The Economics of Consumer Policy

Catalog description

Familiarizes students with the economic analysis of consumer policy issues. Uses the tools of microeconomic analysis to investigate the interaction between government and the marketplace, with an emphasis on how that interaction affects consumers. Examines the rationale for and effects of regulation of industry. Considers alternative theories of regulation, including the capture, economic, and public interest theories. Applies those theories to specific types of regulation, including economic regulation of specific industries (e.g., telecommunications, electricity, trucking, railroads, postal services) as well as to broader social regulation (e.g., health, safety, environmental). The effects of regulatory reform in numerous industries are also examined. An attempt is made to examine current topics relating to consumer policy.