VK KFK IndM: Firms and Competition
Course-Number Instructor Time Location First Session
040542 Christoph Graf Wed, 2--5 p.m. Oskar-Morgenstern-Platz 1, 2nd Floor, Lecture room 12 Oct 2, 2013

    Target audience of this course are Business students of the KFK Industrial Management. In the first part of this course we discuss market structures (e.g., perfect competition, monopoly, oligopoly). Furthermore, we study game theoretic models to analyze markets. We continue then to focus on electricity markets -- a market which gained importance in the last decade. This part of the course is complemented by a session from Wien Energie (a local utility) where current practical issues are discusssed. Finally, we analyze network markets. Most theoretic models are partial equilibrium models stemming from the discipline of industrial organization. To enrich the theoretic models we also have room for discussing relevant case-studies. All students should be interested in applied microeconomics.

    The course consists of a lecture and exercise part and a seminar part. Until Christmas I will prepare and present the content of our course. We will split the time in class into a part where I will lecture and a part where You present the exercises. Before the lecture start, I will hand out a list where You can tick the exercises You have prepared. With the help of this list I will randomly choose someone who has prepared the exercise and ask him/her to present the exercise on the board.

    An exercise count as negative if

    • 1. it cannot be solved or it was not prepared OR
    • 2. the student is absent when calling him/her.

    If this is the case all ticks of that person in this lesson will be deleted.

    The seminar part will take place in January. Students will form groups and choose a topic from a list provided by Wien Energie. The final presentations will take place in the building of Wien Energy in mid-January. Important: The presentation should consist of a theoretical part (published scientific literature), as well as Your own creative approaches to solve the problems. Please make sure that Your presentation meets scientific standards. Important: The presentation has to be sent to me via email in pdf format 24h before Your talk takes place.

    You will be graded based on your performance in the following components (weights in parentheses)

    • Mid-Block Exam (20%);
    • Final Exam (50%);
    • Homework and Presentation (30%).

    The grading is given based on the following table

    87.5%--100% Sehr Gut (1)
    75%--87.5% Gut (2)
    62.5%--75% Befriedigend (3)
    50%--62.5% Genügend (4)
    0%--50% Nicht Genügend (5)

  • Wilkinson, N. (2005). Managerial Economics. Cambridge University Press.
  • Pindyck, R. S. and Rubinfeld, D. L. (2005). Microeconomics. 6th International Edition. Pearson Education, Inc., New Jersey.
  • Motta, M. (2004). Competition Policy. Cambridge University Press.
  • Shy, O. (2001). The Economics of Network Industries. Cambridge University Press.
  • Stoft, S. (2002). Power system economics: designing markets for electricity. Piscataway, NJ: IEEE Press New York, NY.
  • Murray, B. (2009). Power markets and economics: energy costs, trading, emissions. Wiley.
  • Erdmann, G. and Zweifel, P. (2008). Energieökonomik. Springer.

  • Important: Attendance of the first lecture is required for a successful registration to the course. If you can not attend the first lecture, please inform me via e-mail until Oct 2, 2012 the latest.
  • Code of conduct for scientific practice.
  • Information regarding the consequences of cheating, Studienpraeses
  • Important: If you do not want to participate in the course and are registered, please deregister in the UNIVIS in time. All students who are registered at the end of the semester will be graded. If you want to deregister and are already assigned a paper, please also inform me per mail.
  • Rechtliche Hinweise für Studierende: Die Herstellung von Kopien aller Art (ausgenommen für die persönliche Nutzung im Rahmen der Lehrveranstaltung), die Veröffentlichung von Lehrmaterialien und Inhalten jeglicher Art (z.B. durch Bereitstellen zum Download außerhalb dieser Webpage) sowie die Nutzung der Lehrmaterialien für kommerzielle Zwecke, ist untersagt. Auch eine Aufzeichnung im Hörsaal (z.B. Fotografieren von Unterlagen, Audio-/Videoaufnahmen des/der Vortragenden) und eine Veröffentlichung der Aufzeichnungen ohne Zustimmung des/der Vortragenden stellt eine Rechtsverletzung dar.