Please note! Course description is confirmed for two academic years, which means that in general, e.g. Learning outcomes, assessment methods and key content stays unchanged. However, via course syllabus, it is possible to specify or change the course execution in each realization of the course, such as how the contact sessions are organized, assessment methods weighted or materials used.


The purpose of the course is to familiarize students to advanced topics and methods in Empirical Industrial Organization (IO). At the end of the course, students have learned how to estimate static demand and supply using both market level and individual level data, and how the estimation results can be used in applications. The course will start the process of preparing economics Ph.D. students to conduct thesis research in this area.

Credits: 6

Schedule: 01.03.2021 - 16.04.2021

Teacher in charge (valid 01.08.2020-31.07.2022): Iivo Vehviläinen

Teacher in charge (applies in this implementation): Iivo Vehviläinen

Contact information for the course (valid 01.02.2021-21.12.2112):

Please contact Iivo for any queries:

For exercises:

CEFR level (applies in this implementation):

Language of instruction and studies (valid 01.08.2020-31.07.2022):



  • Valid 01.08.2020-31.07.2022:

    The course starts with a reminder of logit and nested logit models before moving on to BLP models, identification issues, and the choice of optimal instruments. In addition, we will cover market power and merger analysis, and other applications.

  • Applies in this implementation:

    Applications this year will include at least market power and merger analysis. 

Assessment Methods and Criteria
  • Valid 01.08.2020-31.07.2022:

    Exercises (60 %), exam (40 %)


Study Material
  • Valid 01.08.2020-31.07.2022:

    Research articles assigned during the course.

  • Applies in this implementation:

    The course material will consists of a set of research articles. Reading list to be added.

  • Valid 01.08.2020-31.07.2022:

    First year economics PhD courses and Hanken course Empirical Industrial Economics (Aalto 31E09300/Hanken 26041/Uni. Helsinki ECOM-443) or equivalent.


Details on the schedule
  • Applies in this implementation:

    Weekly agenda:

    1. Logit and nested logit (Lectures by Otto)
    2. BLP and demand side estimation (Tanja)
    3. Identification, optimal instruments (Ari)
    4. Supply side (Otto, visit by Frank Verboven)
    5. Applications #1: Market power, merger analysis (Iivo, visit by Olli Kauppi)
    6. Applications #2: Precise content to be defined