Industrial Economics deals with the behavior of firms, their interactions with the consumers and the corresponding market outcomes. The focus of analysis in industrial economics is on understanding strategic behavior of firms. In those cases, where the interaction of firms results in undesirable outcomes in the market place, industrial economics offers and develops policy options to remedy market failures.
Students specializing in Industrial Economics will have a firm grasp of the principles of strategic decision making and the consequences of such decisions in the market place. Thus, the chair offers possibilities for students who plan to work in leading positions in large firms as well as consulting firms. Moreover, the students will be excellent candidates for continuing their careers in government agencies and shaping public policy.
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