Industrial Economics

Industrial economics is the study of firms, industries and markets. It looks at firms of all sizes - from local corner shops to multinational giants. And it considers a whole range of industries, such as electricity generation, car production and restaurants. When analyzing decision making at the levels of the individual firm and industry, Industrial Economics helps us understand such issues as: the levels at which capacity, output and prices are set; the extent that products are differentiated from each other; how much firms invest in research and development (R&D) how and why firms advertise. This book covers wide-ranging economic analysis of the firm, its international structure, markets and competitors as well as external economic environment.