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Industrial Organization Practice Exercises with Answer Keys
Pak-Sing Choi • Eric Dunaway • Felix Muñoz-Garcia
=Eric Dunaway, Felix Munoz-Garcia, and Pak-Sing Choi - Industrial Organization_ Practice Exercises with Answer Keys Textbook
This textbook presents exercises on Industrial Organization with detailed answer keys.
1. Worked-out exercises. We provide 122 step-by-step exercises with detailed answer keys, so readers can understand how to solve similar questions on their own. We also present the intuition behind each mathematical assumption and result, covering the typical material required in Industrial Organization courses at the undergraduate level and by most courses at the master’s level.
In contrast, the above textbooks on Industrial Organization tend to focus on theoretical tools and the main empirical findings in the literature, but rarely offer step-by-step answers to the exercises. In our experience, this presentation style hinders students’ ability to apply the theoretical concepts to other fields or his or her own research projects. Our manuscript, then, seeks to fill this void by complementing the theoretical concepts in current textbooks, offering practice exercises that predict firm behavior and regulation in different industries.
2. Tools. We emphasize the game-theoretic tools used in each type of exercise, so readers easily perceive that these tools can be systematically applied to other markets, forms of competition, or information environments where firms, consumers, and regulating agencies interact.
3. Algebra support and step-by-step calculations. We assume a little mathematical background in algebra and calculus, walking the reader through most algebraic steps, which motivate students to reproduce each result on their own. From our recent experiences, students’ calculus for this course is appropriate, but their algebra is often rusty. Hence, we detail the algebraic simplifications, making sure that students can more easily follow every step.
4. Exercises based on journal articles. Several exercises are based on published articles. However, we reduce the model to its main ingredients, providing tractable functional forms for demand and costs and dividing the question into several easy-to-answer parts. This would help students to reproduce the main findings of the article on their own. This teaching tool, which introduces them to published articles in a more friendly way, is highly effective for students in their senior year and for graduate students in seeing the main steps in the authors’ analysis which students can subsequently use in their own research.
5. Ranked exercises. Finally, we rank exercises according to their difficulty (either because of its more general analysis or its algebra steps): with a letter A next to its title to indicate easy exercises, a B to indicate intermediate difficulty, and a C for relatively more challenging exercises. This rankingshould help undergraduate (master’s) students start reviewing exercises with an A (B) and, once they feel comfortable with this type of questions, move to exercises marked with a letter B (C, respectively).
Industrial Organization_ Practice Exercises with Answer Keys Textbook.pdf
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