Industrial Economics (Advanced) (2012/2013)

Course partially running (all years except the first)

Course code
Name of lecturer
Angelo Zago
Angelo Zago
Number of ECTS credits allocated
Academic sector
Language of instruction
primo semestre dal Sep 24, 2012 al Dec 21, 2012.

Lesson timetable

Learning outcomes

The course analyzes firms’ problems, in particular their interactions with the owners, the management, the workforce, and the input providers, starting from real world problems. The major objective of the course is to prepare the students to the critical assessment of these economic situations and the related economic policies. We analyze firms’ choices using microeconomic and asymmetric information tools. We thus will use an analytical approach, with a special emphasis on the theory of incentives, that is the behaviour of economic agents in situations with asymmetric information and divergent interests.
It is a course of applied microeconomics aimed at students working in Management and Accounting, who will be working in consulting, management and organizational positions in various types of firms. The exposition of the different topics will be motivated by case studies, together with the analysis of productive sectors and economic policies, as it is the tradition of Economics Departments in different Business Schools. Moreover, the course will provide the students with analytical tools which will will allow them to understand the functioning of nonprofit organizations within advanced economies, including their relationships with for-profit firms as well as their ability to favour the accumulation of bridging social capital.


- The gains from trade.
- Transaction costs.
- The entrepreneur.
- Property rights.
- Principal and Agent.
- Multitasks model.
- Hierarchies.
- Integration and the visible hand.
- Corporate governance 1: management incentives and shareholders’ role.
- Corporate governance 2: the takeover and financial structure. Private equity ed Hedge
- Profit-sharing, cooperatives and mutual enterprise.
- Non-profit and charitable enterprise.
- Private and public enterprise: the ownership of business

Reference books
Author Title Publisher Year ISBN Note
RICKETTS M. The Economics of Business Enterprise. An Introduction to Economic Organization and the Theory of the Firm Edward Elgar  

Assessment methods and criteria

Consistently with the course contents, the final exam will be consist of:
- a traditional written exam (with open questions), during which the students will be asked to answer some theoretical questions (usually 2); in addition, the students are expected to comment on real world events related to the course contents;
- a written examination (multiple choices) regarding theory;
- a short essay (2,000 words), as described on the course web page.