Economics of Regulation

Catalog description

Examines government regulation of market processes (“economic regulation”), using the principles of economic analysis. The course will be divided into three parts. First will be an in-depth look at the history of regulation, primarily in the United States, to provide a firm understanding of the scope, evolution and ubiquity of regulation. Second will be the theoretical treatment of several key regulatory issues: natural monopoly, oligopoly, price-setting and franchising. Finally, regulation (and in some cases deregulation) of certain specific industries will be explored: telecom, energy, transportation, solid waste and financial services.