The growth of economies depends on the growth and survival of industries and firms. If you analyze national or multinational economies, industry competition, or company management, it is important to know how industries develop and change. A crucial part of this change, in many industries and for overall economic growth, is continual development of new or improved production methods and products.
This course examines industrial change beginning from the inception of an industry. We pay close attention to technology, which often drives industrial competition. We examine the entry, exit, and growth of firms in individual markets, such as the production of automobiles, shampoo, calculators, penicillin, or software. We study how oligopolies form. We talk about possible national policies and strategies for corporate success. Parts of the story include product variety, economies of scale and scope, advertising and distribution, firm growth by expansion or merger, international trade, and the growth of cities.