Aligning with the NUCB Business School’s mission statement, this course assists participants to foster a "frontier spirit” and enables them to solve economic and business problems in a global society.

Industrial Organization, a major subject of applied MICROECONOMICS, studies how firms interact and compete with each other in the market. The primary tools of Industrial Organization are consumer and producer theory, optimization, and in particular game theory.

The course surveys the main topics and analytical tools in the field of Industrial Organization. It focuses on market structure, firms' conduct, and industry performance. Of special interest is firms' strategic behavior in price and non-price competition. The types of behavior, or conduct, include oligopoly pricing and production, strategic entry deterrence, horizontal mergers and acquisitions (both in traditional industries and in digital industries), and vertical integration. The effects of firms' conduct on economic welfare and the feedback effects on market structure are examined. Moreover, the course covers the effects of regulatory and legal systems (such as antitrust law or competitive policies) on firms' behavior and how firms operate under regulatory and legal regimes.

This course serves as an introductory course to prepare participants for further study in the area of Industrial Organization. It is also helpful for those participants who plan to pursue careers in private enterprises, including financial and legal institutions, in federal and state regulatory agencies, as well as in international trade.

By taking this course, participants will deepen their understanding of interactions between firms in cooperative and non-cooperative environments.

Participants will delve into theoretical and applied examination of firms’ strategic interactions in
oligopolistic markets, dominant firms’ behavior, pricing and marketing strategies that firms may use to increase profits.

Participants will cultivate knowledge of public policy responses to firms’ behavior, including antitrust policy and regulation.

*本学の教育ミッションを具現化する形で設定されています。

By the end of the course, participants are expected to be able to

• understand how and why different industry structures offer various opportunities for firms to achieve competitive advantages
• understand the importance and the challenge of defining the relevant market in a competitive analysis
• examine the factors determining the firms’ appropriate strategy choices
• critically analyze the meaning of anti-competitive practices, especially the abuse of dominant market power
• identify the challenges that new firms face in heavily regulated industries
• understand the pros and cons of being a first mover

教育手法 Teaching Method		% of Course Time
インプット型 Traditional		30 %
参加者中心型 Participant-Centered Learning	ケースメソッド Case Method	70 %
	フィールドメソッド Field Method	0 %
合計 Total		100 %

***Course Prerequisites***
• It is desirable that participants have a basic understanding of microeconomics.
• All participants are recommended to devote at least 3 hours to mandatory readings for each case and are expected to prepare their own answers to the assignment questions.
• Participants who wish to acquire deeper insights are suggested to read additional readings.

***Class Discussion***
• The class is based on open discussions and participants are facilitated to exchange their opinions with their classmates.
• Participants are expected to think flexibly and update their perspectives based on the open discussions and new theories.
• No specific comment may be given to each participant's opinion, but participants will know if their opinions are appreciated by listening to their classmates' feedback.

***Preparation report***
The detailed assignment questions will be distributed in the file “Assignment Sheet”.
Format: 2-3 pages, single-spaced, 12pt font size
Submission method: Upload your preparation report (PDF version) on Google Classroom
Deadline: 09:00, Day 2 (JST)
Feedback: The common factor(s) will be discussed in class.
IMPORTANT: The omitting of a source is considered plagiarism, even with indirect quotations.

***Case Exam***
The exam case and questions will be distributed in class on Day 4.
Duration: 3 hours
Deadline: Before the class ends on Day 4
Submission method: Upload your preparation report (PDF version) on Google Classroom
IMPORTANT: The omitting of a source is considered plagiarism, even with indirect quotations.

*成績は下記該当項目を基に決定されます。
*クラス貢献度合計はコールドコールと授業内での挙手発言の合算値です。

講師用内規準拠 Method of Assessment	Weights
コールドコール Cold Call	0 %
授業内での挙手発言 Class Contribution	60 %
クラス貢献度合計 Class Contribution Total	60 %
予習レポート Preparation Report	10 %
小テスト Quizzes / Tests	0 %
シミュレーション成績 Simulation	0 %
ケース試験 Case Exam	30 %
最終レポート Final Report	0 %
期末試験 Final Exam	0 %
参加者による相互評価 Peer Assessment	0 %
合計 Total	100 %

評価の留意事項　Notes on Evaluation Criteria

• The grading system is in line with NUCB Business School Grading Policy, i.e., the final course grading will follow a forced distributed curve when the number of participations is larger than 10.
• Grading of class contribution is based on RELEVANCE, QUALITY, and FREQUENCY.
• The preparation report and the case exam will be graded by the comprehensiveness and depth of arguments.

• 配布資料

• Lecture slides and other reading materials will be distributed.
• Paul Belleflamme and Martin Peitz. Industrial Organization: Markets and Strategies (2nd Edition) (NOT necessary for the course). Cambridge University Press, 2015. ISBN-13: 9781107687899
• Massimo Motta. Competition Policy: Theory and Practice (NOT necessary for the course). Cambridge University Press, 2004. ISBN-13: 9780521016919

The structure, contents, and assessment are modified based on the concerns raised by the previous participants.

（実務経験 Work experience）

Refereed Articles

• (2020) Regulatory risk, vertical integration, and upstream investment. European Economic Review 128
• (2020) Mergers with Structural Remedies in a Cournot Oligopoly. Theoretical Economics Letters 10(2): 2162-2078
• (2017) Asymmetric price adjustments: A supply side approach. International Journal of Industrial Organization 50
• (2015) Mergers between regulated firms with unknown efficiency gains. Review of Economic Design 19