ADVERTISING
Bachelor	TR-NQF-HE: Level 6	QF-EHEA: First Cycle	EQF-LLL: Level 6

Course Introduction and Application Information

Course Code	Course Name	Semester	Theoretical	Practical	Credit	ECTS
ECO4224	Industrial Organizations	Spring	3	0	3	6

This catalog is for information purposes. Course status is determined by the relevant department at the beginning of semester.

Basic information

Language of instruction:	English
Type of course:	Non-Departmental Elective
Course Level:	Bachelor’s Degree (First Cycle)
Mode of Delivery:	Face to face
Course Coordinator :	Assist. Prof. DİMİTAR ASENOV SIMEONOV
Course Lecturer(s):	Assist. Prof. DİMİTAR ASENOV SIMEONOV
Recommended Optional Program Components:	Optional Course Materials: videos, games, etc.
Course Objectives:	The course is about firms in markets. It focuses on firm behavior in imperfectly competitive markets. It analyzes the acquisition and use of market power by firms, strategic interactions among firms, and the role of government competition policy. During the course we will approach this subject from both theoretical and applied perspectives.

Learning Outcomes

The students who have succeeded in this course;
1.Explain the role of profits in a market economy.
2.Set optimal prices and price discriminate.
3.Understand how price and non-price competition among firms affect economic welfare.
4.Predict industry-level changes using demand/supply analysis.
5.Analyze and evaluate models of competitive, oligopolistic, and monopoly markets.
6.Use game theory to predict how your actions influence those of others.
7.Analyze and evaluate how firms’ structure and conduct affect economic welfare and how these results feedback to effect structure and conduct.
8.Identify sources of market failure.
9.Explain the role of government competition policy.

Course Content

Market Structure & Market Power, Price Discrimination & Monopoly, Product Variety & Quality under Monopoly Static & Dynamic Games, Anti-competitive behaviors, Mergers

Weekly Detailed Course Contents

Week	Subject	Related Preparation
1)	Introduction	PEPALL et al., Ch.1
2)	Basic microeconomics	PEPALL et al., Ch.2
3)	Market Structure & Market Power	PEPALL et al., Ch.3
4)	Technology & Costs	PEPALL et al., Ch.4
5)	Price Discrimination & Monopoly	PEPALL et al., Ch.5,6
6)	Product Variety & Quality under Monopoly	PEPALL et al., Ch.7
7)	Commodity Bundling & Tie-in Sales	PEPALL et al., Ch.8
8)	Midterm Exam
9)	Static Games: Quantity v. Price Competition	PEPALL et al., Ch.8 & 9
10)	Dynamic Games: First & Second Movers	PEPALL et al., Ch.11
11)	Entry Deterrence & Predation	PEPALL et al., Ch.12,13
12)	Price Fixing & Repeated Games	PEPALL et al., Ch.14
13)	Horizontal Mergers	PEPALL et al., Ch.16
14)	Vertical & Conglomerate Mergers	PEPALL et al., Ch.17

Sources

Course Notes / Textbooks:	Industrial Organization: Contemporary Theory and Empirical Applications by PEPALL, RICHARDS and NORMAN, Blackwell Publishing, 4th or 5th edition.
References:	The Economist Businessweek HBR

Evaluation System

Semester Requirements	Number of Activities	Level of Contribution
Quizzes	1	% 10
Midterms	1	% 40
Final	1	% 50
Total		% 100
PERCENTAGE OF SEMESTER WORK		% 50
PERCENTAGE OF FINAL WORK		% 50
Total		% 100

ECTS / Workload Table

Activities	Number of Activities	Duration (Hours)	Workload
Course Hours	14	3	42
Study Hours Out of Class	14	4	56
Quizzes	8	1	8
Midterms	1	20	20
Final	1	20	20
Total Workload			146

Contribution of Learning Outcomes to Programme Outcomes

No Effect	1 Lowest	2 Low	3 Average	4 High	5 Highest

	Program Outcomes	Level of Contribution
1)	To be able to apply theoretical concepts related to mass communication, consumer behavior, psychology, persuasion,sociology, marketing, and other related fields to understand how advertising and brand communication works in a free-market economy.	2
2)	To be able to critically discuss and interpret theories, concepts, methods, tools and ideas in the field of advertising.	2
3)	To be able to research, create, design, write, and present an advertising campaign and brand strategies of their own creation and compete for an account as they would at an advertising agency.	2
4)	To be able to analyze primary and secondary research data for a variety of products and services.	2
5)	To be able to develop an understanding of the history of advertising as it relates to the emergence of mass media outlets and the importance of advertising in the marketplace.	2
6)	To be able to follow developments, techniques, methods, as well as research in advertising field; and to be able to communicate with international colleagues in a foreign language. (“European Language Portfolio Global Scale”, Level B1)	2
7)	To be able to take responsibility in an individual capacity or as a team in generating solutions to unexpected problems that arise during implementation process in the Advertising field.	3
8)	To be able to understand how advertising works in a global economy, taking into account cultural, societal, political, and economic differences that exist across countries and cultures.	2
9)	To be able to approach the dynamics of the field with an integrated perspective, with creative and critical thinking, develop original and creative strategies.	2
10)	To be able to to create strategic advertisements for print, broadcast, online and other media, as well as how to integrate a campaign idea across several media categories in a culturally diverse marketplace.	2
11)	To be able to use computer software required by the discipline and to possess advanced-level computing and IT skills. (“European Computer Driving Licence”, Advanced Level)	2
12)	To be able to identify and meet the demands of learning requirements.	2
13)	To be able to develop an understanding and appreciation of the core ethical principles of the advertising profession.	2