This book gives a straightforward account of developments in the theory of industrial economics and blends them into the tradition of industrial organization. The text primarily presents accomplishments of what the author calls, 'The Second Wave', which began in the 1970s and made a sizeable impact in the theoretical aspects of industrial organization, though the earlier contributions that laid the foundation are not forgotten.The book is divided into two parts. The first part features market behaviour and considers monopolist's choices of price and quality, the spectrums of goods advertising and the distribution of structure. Part two analyses the choice price, capacity, product positioning, research and development, and other strategic variables in a comparatively monopolistic market.