EFB346 Market Structure and Regulation
To view more information for this unit, select Unit Outline from the list below. Please note the teaching period for which the Unit Outline is relevant.
| Unit code: | EFB346 |
|---|---|
| Prerequisite(s): | EFB228 or EFB223 |
| Credit points: | 12 |
| Timetable | Details in HiQ, if available |
| Availabilities |
|
Unit Outline: Semester 1 2027, Gardens Point, Internal
| Unit code: | EFB346 |
|---|---|
| Credit points: | 12 |
| Pre-requisite: | EFB228 or EFB223 |
| Coordinator: | Salonkara Chaudhuri | salonkara.chaudhuri@qut.edu.au |
Overview
The profitability of firms, the prices you face as a consumer, and the economic value of a market are determined by the market’s underlying structure. In Market Structure and Regulation, you will advance your understanding of the sources of firms’ market power, its impact on consumer welfare and market efficiency, and the role of public policy and competition law in regulating markets. This unit enables you to use fundamental economic tools to analyse real-world markets and regulations.
Learning Outcomes
On successful completion of this unit you will be able to:
- Analyse pricing and other forms of strategic behaviour on the part of firms, both when faced with complex patterns of consumer demand and when faced with strategic competitors. [KS 1.1, HO 2.1]
- Identify sources of market power and analyse its impact on economic efficiency and consumer welfare. [KS 1.1, HO 2.1]
- Critique both Australian and international regulatory policy with regards to competition and market power, considering theoretical, comparative and empirical perspectives to make recommendations. [HO 2.2, SE 5.1]
- Apply teamwork knowledge and skills for collaborating effectively with peers to produce cohesive analysis. [TS 4.2]
Content
The unit applies microeconomics concepts covered in (Intermediate) Microeconomics to the field of Industrial Organization. It takes a formal approach to analysing the way firms make production and sales decisions and interact strategically with each other in the marketplace. The unit focuses on the concept of market power and the tension it creates between increased firm profits and decreased market efficiency. The role of competition regulators, such at the ACCC in Australia, in response to the presence or potential threat of excess market power is highlighted throughout the unit. Topics include:
- Monopoly markets and their regulation
- Markets with imperfect competition
- Horizontal relations, collusion, and mergers
- Market foreclosure and maintenance of market power
- Vertical relations and restraints
- Network effects
QUT Business Capabilities (Undergraduate)
The content and assessment in this unit are aligned to a selection of the following set of QUT Business Capabilities, also known as Assurance of Learning Goals (AoLs). Developing these capabilities will assist you to meet the desired graduate outcomes set at QUT and equip you with the knowledge and skills to succeed in your chosen career.
Knowledge and Technological Skills (KS)
1.1 Demonstrate and apply integrated discipline (including technical) knowledge across the broad field of business with depth in one or more core business disciplines.
1.2 Apply technical and technological skills appropriate and effective for real world business purposes and contexts.
Higher Order Thinking (HO)
2.1 Investigate real world business issues and situations through the effective analysis, evaluation and synthesis of theory and practice.
2.2 Exercise independent judgment and initiative in adapting and applying knowledge and skills for effective planning, problem solving and decision making in diverse contexts.
Professional Communication (PC)
3.1 Use information literacy skills, and communicate effectively and professionally in written forms and using media appropriate for diverse purposes and contexts.
3.2 Use information literacy skills, and communicate effectively and professionally in oral forms, appropriate for diverse purposes and contexts.
Teamwork and Self (TS)
4.1 Exercise self-reflection, responsibility and accountability in relation to own learning and professional practice.
4.2 Apply teamwork knowledge and skills for effective collaboration across diverse purposes and contexts.
Social, Ethical and Global Understanding (SE)
5.1 Demonstrate and apply knowledge of ethical and legal principles and practices in analysing and responding to business issues.
5.2 Demonstrate and apply knowledge of socially responsible behaviour in analysing and addressing business issues in national and international business contexts.
Learning Approaches
Your active involvement is essential to develop theoretical, empirical, and applied knowledge and skills in this advanced area of economics. Through policy analysis, you will foster social and ethical understanding, while working with more conceptual materials will help you advance your critical analysis and mature thinking.
You will engage with theoretical and empirical material presented by the lecturer, with opportunities for practice and questions. The tutorial programme relies on your preparation of solutions to set questions before the tutorial. These questions are designed to test your basic understanding, critical analysis, and higher-level thinking, as well as your ability to apply microeconomic principles to empirical or applied problems. The questions used in tutorials are also intended to prepare you for the end-of-semester examination.
Feedback on Learning and Assessment
Students will receive feedback in various forms throughout the semester which may include:
- Informal: worked examples, such as verbal feedback in class, personal consultation
- Formal: in writing, such as checklists (e.g. criteria sheets), written commentary
- Direct: to individual students, either in written form or in consultation
- Indirect: to the whole class
Assessment
Overview
The assessment in this unit aims to support your achievement of the unit learning outcomes and course assurance of learning goals. The assessment has been designed in order to allow you to:
- receive feedback on your learning as you progress toward the development of knowledge, understanding, skills and attitudes (formative assessment);
- demonstrate your learning in order to achieve a final grade (summative assessment).
Unit Grading Scheme
7- point scale
Assessment Tasks
Assessment: Consultation Report
Acting as a team of economic consultants, you will investigate a contemporary policy issue and provide recommendations to the relevant regulatory authority. You will then reflect on the teamwork process.
The ethical and responsible use of generative artificial intelligence (GenAI) tools is authorised in this assessment. See the relevant assessment details in Canvas for specific guidelines.
This assessment item is based on teamwork and provides evidence of achievement of associated Unit Learning Outcomes and Course Learning Outcomes. Individual submissions/presentations will not be accepted.
Formative or Summative: Formative and Summative
Business Capabilities (AoL goals): HO (2.1, 2.2), TS (4.2), SE (5.1)
This assignment is eligible for the 48-hour late submission period and assignment extensions.
Assessment: Problem Solving Task
This problem-solving task will consists of exercises that will help assess your understanding of theoretical and applied content in the unit and is designed to help you prepare for the End of Semester Exam.
The ethical and responsible use of generative artificial intelligence (GenAI) tools is authorised in this assessment. See the relevant assessment details in Canvas for specific guidelines.
Formative or Summative: Formative and Summative
Business Capabilities (AoL goals): KS (1.1), HO (2.1)
This assignment is eligible for the 48-hour late submission period and assignment extensions.
Assessment: End of Semester Exam
The examination will assess how you apply your knowledge and problem-solving skills based on the material covered in the unit.
The use of generative artificial intelligence (GenAI) tools is prohibited during this assessment.
This invigilated examination requires attendance on campus or at an assessment centre, regardless of your attendance mode for the unit.
This assessment item is Verified Identity Assessment. Requirements are provided on the Unit Canvas site.
Formative or Summative: Summative
Business Capabilities (AoL goals): KS (1.1), HO (2.1), SE (5.2)
Academic Integrity
Academic integrity is a commitment to undertaking academic work and assessment in a manner that is ethical, fair, honest, respectful and accountable.
The Academic Integrity Policy sets out the range of conduct that can be a failure to maintain the standards of academic integrity. This includes, cheating in exams, plagiarism, self-plagiarism, collusion and contract cheating. It also includes providing fraudulent or altered documentation in support of an academic concession application, for example an assignment extension or a deferred exam.
You are encouraged to make use of QUT’s learning support services, resources and tools to assure the academic integrity of your assessment. This includes the use of text matching software that may be available to assist with self-assessing your academic integrity as part of the assessment submission process.
Breaching QUT’s Academic Integrity Policy or engaging in conduct that may defeat or compromise the purpose of assessment can lead to a finding of student misconduct (Code of Conduct – Student) and result in the imposition of penalties under the Management of Student Misconduct Policy, ranging from a grade reduction to exclusion from QUT.
Resources
The resources in this unit include a prescribed text and additional resources added to the Canvas site.
Resource Materials
Prescribed text(s)
Cabral, Luis M. B., (2017) 2nd Edition, Introduction to Industrial Organization, The MIT Press.
Recommended text(s)
Kwoka Jr, John E & White, Lawrence J., (2019) 7th edition, The Antitrust Revolution, Oxford University Press.
Other
A Canvas site for EFB346 has been developed. Students must refer to it regularly for important updates and announcements. It contains links to many additional resources that are pertinent to this unit, including downloadable lecture notes, recordings, tutorial questions, and answer keys.
Risk Assessment Statement
There are no out-of-the-ordinary risks associated with learning and teaching activities in this unit.
Course Learning Outcomes
This unit is designed to support your development of the following course/study area learning outcomes.BS05 Bachelor of Business
- Demonstrate and apply integrated business knowledge, combining disciplinary depth and interdisciplinary insight, to address complex and evolving business challenges.
Relates to: ULO1, ULO2, Problem Solving Task, End of Semester Exam - Investigate complex business issues by critically analysing, evaluating, and synthesising theory and practice to generate evidence-based insights.
Relates to: ULO1, ULO2, Consultation Report, Problem Solving Task, End of Semester Exam - Exercise independent judgment and initiative to adapt and apply knowledge and skills for strategic planning, creative problem-solving, and effective decision-making in diverse, dynamic, and technology-enabled contexts.
Relates to: ULO3, Consultation Report - Collaborate effectively in diverse and digitally enabled team environments, applying teamwork knowledge and skills to achieve shared goals.
Relates to: ULO4, Consultation Report - Demonstrate and apply knowledge of ethical and legal principles to analyse and respond to business issues with integrity, professionalism, and accountability.
Relates to: ULO3, Consultation Report - Demonstrate and apply knowledge of socially responsible and sustainable business practices to address national and global business challenges in ways that create long-term value.
Relates to: End of Semester Exam
BS08 Bachelor of Business - International
- Demonstrate and apply integrated business knowledge, combining disciplinary depth and interdisciplinary insight, to address complex and evolving business challenges.
Relates to: ULO1, ULO2, Problem Solving Task, End of Semester Exam - Investigate complex business issues by critically analysing, evaluating, and synthesising theory and practice to generate evidence-based insights.
Relates to: ULO1, ULO2, Consultation Report, Problem Solving Task, End of Semester Exam - Exercise independent judgment and initiative to adapt and apply knowledge and skills for strategic planning, creative problem-solving, and effective decision-making in diverse, dynamic, and technology-enabled contexts.
Relates to: ULO3, Consultation Report - Collaborate effectively in diverse and digitally enabled team environments, applying teamwork knowledge and skills to achieve shared goals.
Relates to: ULO4, Consultation Report - Demonstrate and apply knowledge of ethical and legal principles to analyse and respond to business issues with integrity, professionalism, and accountability.
Relates to: ULO3, Consultation Report - Demonstrate and apply knowledge of socially responsible and sustainable business practices to address national and global business challenges in ways that create long-term value.
Relates to: End of Semester Exam
Unit Outline: Semester 1 2027, Online
| Unit code: | EFB346 |
|---|---|
| Credit points: | 12 |
| Pre-requisite: | EFB228 or EFB223 |
Overview
The profitability of firms, the prices you face as a consumer, and the economic value of a market are determined by the market’s underlying structure. In Market Structure and Regulation, you will advance your understanding of the sources of firms’ market power, its impact on consumer welfare and market efficiency, and the role of public policy and competition law in regulating markets. This unit enables you to use fundamental economic tools to analyse real-world markets and regulations.
Learning Outcomes
On successful completion of this unit you will be able to:
- Analyse pricing and other forms of strategic behaviour on the part of firms, both when faced with complex patterns of consumer demand and when faced with strategic competitors. [KS 1.1, HO 2.1]
- Identify sources of market power and analyse its impact on economic efficiency and consumer welfare. [KS 1.1, HO 2.1]
- Critique both Australian and international regulatory policy with regards to competition and market power, considering theoretical, comparative and empirical perspectives to make recommendations. [HO 2.2, SE 5.1]
- Apply teamwork knowledge and skills for collaborating effectively with peers to produce cohesive analysis. [TS 4.2]
Content
The unit applies microeconomics concepts covered in (Intermediate) Microeconomics to the field of Industrial Organization. It takes a formal approach to analysing the way firms make production and sales decisions and interact strategically with each other in the marketplace. The unit focuses on the concept of market power and the tension it creates between increased firm profits and decreased market efficiency. The role of competition regulators, such at the ACCC in Australia, in response to the presence or potential threat of excess market power is highlighted throughout the unit. Topics include:
- Monopoly markets and their regulation
- Markets with imperfect competition
- Horizontal relations, collusion, and mergers
- Market foreclosure and maintenance of market power
- Vertical relations and restraints
- Network effects
QUT Business Capabilities (Undergraduate)
The content and assessment in this unit are aligned to a selection of the following set of QUT Business Capabilities, also known as Assurance of Learning Goals (AoLs). Developing these capabilities will assist you to meet the desired graduate outcomes set at QUT and equip you with the knowledge and skills to succeed in your chosen career.
Knowledge and Technological Skills (KS)
1.1 Demonstrate and apply integrated discipline (including technical) knowledge across the broad field of business with depth in one or more core business disciplines.
1.2 Apply technical and technological skills appropriate and effective for real world business purposes and contexts.
Higher Order Thinking (HO)
2.1 Investigate real world business issues and situations through the effective analysis, evaluation and synthesis of theory and practice.
2.2 Exercise independent judgment and initiative in adapting and applying knowledge and skills for effective planning, problem solving and decision making in diverse contexts.
Professional Communication (PC)
3.1 Use information literacy skills, and communicate effectively and professionally in written forms and using media appropriate for diverse purposes and contexts.
3.2 Use information literacy skills, and communicate effectively and professionally in oral forms, appropriate for diverse purposes and contexts.
Teamwork and Self (TS)
4.1 Exercise self-reflection, responsibility and accountability in relation to own learning and professional practice.
4.2 Apply teamwork knowledge and skills for effective collaboration across diverse purposes and contexts.
Social, Ethical and Global Understanding (SE)
5.1 Demonstrate and apply knowledge of ethical and legal principles and practices in analysing and responding to business issues.
5.2 Demonstrate and apply knowledge of socially responsible behaviour in analysing and addressing business issues in national and international business contexts.
Learning Approaches
Your active involvement is essential to develop theoretical, empirical, and applied knowledge and skills in this advanced area of economics. Through policy analysis, you will foster social and ethical understanding, while working with more conceptual materials will help you advance your critical analysis and mature thinking.
You will engage with theoretical and empirical material presented by the lecturer, with opportunities for practice and questions. The tutorial programme relies on your preparation of solutions to set questions before the tutorial. These questions are designed to test your basic understanding, critical analysis, and higher-level thinking, as well as your ability to apply microeconomic principles to empirical or applied problems. The questions used in tutorials are also intended to prepare you for the end-of-semester examination.
Feedback on Learning and Assessment
Students will receive feedback in various forms throughout the semester which may include:
- Informal: worked examples, such as verbal feedback in class, personal consultation
- Formal: in writing, such as checklists (e.g. criteria sheets), written commentary
- Direct: to individual students, either in written form or in consultation
- Indirect: to the whole class
Assessment
Overview
The assessment in this unit aims to support your achievement of the unit learning outcomes and course assurance of learning goals. The assessment has been designed in order to allow you to:
- receive feedback on your learning as you progress toward the development of knowledge, understanding, skills and attitudes (formative assessment);
- demonstrate your learning in order to achieve a final grade (summative assessment).
Unit Grading Scheme
7- point scale
Assessment Tasks
Assessment: Consultation Report
Acting as a team of economic consultants, you will investigate a contemporary policy issue and provide recommendations to the relevant regulatory authority. You will then reflect on the teamwork process.
The ethical and responsible use of generative artificial intelligence (GenAI) tools is authorised in this assessment. See the relevant assessment details in Canvas for specific guidelines.
This assessment item is based on teamwork and provides evidence of achievement of associated Unit Learning Outcomes and Course Learning Outcomes. Individual submissions/presentations will not be accepted.
Formative or Summative: Formative and Summative
Business Capabilities (AoL goals): HO (2.1, 2.2), TS (4.2), SE (5.1)
This assignment is eligible for the 48-hour late submission period and assignment extensions.
Assessment: Problem Solving Task
This problem-solving task will consists of exercises that will help assess your understanding of theoretical and applied content in the unit and is designed to help you prepare for the End of Semester Exam.
The ethical and responsible use of generative artificial intelligence (GenAI) tools is authorised in this assessment. See the relevant assessment details in Canvas for specific guidelines.
Formative or Summative: Formative and Summative
Business Capabilities (AoL goals): KS (1.1), HO (2.1)
This assignment is eligible for the 48-hour late submission period and assignment extensions.
Assessment: End of Semester Exam
The examination will assess how you apply your knowledge and problem-solving skills based on the material covered in the unit.
The use of generative artificial intelligence (GenAI) tools is prohibited during this assessment.
This invigilated examination requires attendance on campus or at an assessment centre, regardless of your attendance mode for the unit.
This assessment item is Verified Identity Assessment. Requirements are provided on the Unit Canvas site.
Formative or Summative: Summative
Business Capabilities (AoL goals): KS (1.1), HO (2.1), SE (5.2)
Academic Integrity
Academic integrity is a commitment to undertaking academic work and assessment in a manner that is ethical, fair, honest, respectful and accountable.
The Academic Integrity Policy sets out the range of conduct that can be a failure to maintain the standards of academic integrity. This includes, cheating in exams, plagiarism, self-plagiarism, collusion and contract cheating. It also includes providing fraudulent or altered documentation in support of an academic concession application, for example an assignment extension or a deferred exam.
You are encouraged to make use of QUT’s learning support services, resources and tools to assure the academic integrity of your assessment. This includes the use of text matching software that may be available to assist with self-assessing your academic integrity as part of the assessment submission process.
Breaching QUT’s Academic Integrity Policy or engaging in conduct that may defeat or compromise the purpose of assessment can lead to a finding of student misconduct (Code of Conduct – Student) and result in the imposition of penalties under the Management of Student Misconduct Policy, ranging from a grade reduction to exclusion from QUT.
Resources
The resources in this unit include a prescribed text and additional resources added to the Canvas site.
Resource Materials
Prescribed text(s)
Cabral, Luis M. B., (2017) 2nd Edition, Introduction to Industrial Organization, The MIT Press.
Recommended text(s)
Kwoka Jr, John E & White, Lawrence J., (2019) 7th edition, The Antitrust Revolution, Oxford University Press.
Other
A Canvas site for EFB346 has been developed. Students must refer to it regularly for important updates and announcements. It contains links to many additional resources that are pertinent to this unit, including downloadable lecture notes, recordings, tutorial questions, and answer keys.
Risk Assessment Statement
There are no out-of-the-ordinary risks associated with learning and teaching activities in this unit.
Course Learning Outcomes
This unit is designed to support your development of the following course/study area learning outcomes.BS05 Bachelor of Business
- Demonstrate and apply integrated business knowledge, combining disciplinary depth and interdisciplinary insight, to address complex and evolving business challenges.
Relates to: ULO1, ULO2, Problem Solving Task, End of Semester Exam - Investigate complex business issues by critically analysing, evaluating, and synthesising theory and practice to generate evidence-based insights.
Relates to: ULO1, ULO2, Consultation Report, Problem Solving Task, End of Semester Exam - Exercise independent judgment and initiative to adapt and apply knowledge and skills for strategic planning, creative problem-solving, and effective decision-making in diverse, dynamic, and technology-enabled contexts.
Relates to: ULO3, Consultation Report - Collaborate effectively in diverse and digitally enabled team environments, applying teamwork knowledge and skills to achieve shared goals.
Relates to: ULO4, Consultation Report - Demonstrate and apply knowledge of ethical and legal principles to analyse and respond to business issues with integrity, professionalism, and accountability.
Relates to: ULO3, Consultation Report - Demonstrate and apply knowledge of socially responsible and sustainable business practices to address national and global business challenges in ways that create long-term value.
Relates to: End of Semester Exam
BS08 Bachelor of Business - International
- Demonstrate and apply integrated business knowledge, combining disciplinary depth and interdisciplinary insight, to address complex and evolving business challenges.
Relates to: ULO1, ULO2, Problem Solving Task, End of Semester Exam - Investigate complex business issues by critically analysing, evaluating, and synthesising theory and practice to generate evidence-based insights.
Relates to: ULO1, ULO2, Consultation Report, Problem Solving Task, End of Semester Exam - Exercise independent judgment and initiative to adapt and apply knowledge and skills for strategic planning, creative problem-solving, and effective decision-making in diverse, dynamic, and technology-enabled contexts.
Relates to: ULO3, Consultation Report - Collaborate effectively in diverse and digitally enabled team environments, applying teamwork knowledge and skills to achieve shared goals.
Relates to: ULO4, Consultation Report - Demonstrate and apply knowledge of ethical and legal principles to analyse and respond to business issues with integrity, professionalism, and accountability.
Relates to: ULO3, Consultation Report - Demonstrate and apply knowledge of socially responsible and sustainable business practices to address national and global business challenges in ways that create long-term value.
Relates to: End of Semester Exam