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Course 2015-2016 a.y.

20463 - COMPETITION POLICY, REGULATION AND LIBERALIZATIONS


CLMG - M - IM - MM - AFC - CLAPI - CLEFIN-FINANCE - CLELI - ACME - DES-ESS - EMIT
Department of Economics

Course taught in English


Go to class group/s: 31

CLMG (6 credits - II sem. - OP  |  SECS-P/01) - M (6 credits - II sem. - OP  |  SECS-P/01) - IM (6 credits - II sem. - OP  |  SECS-P/01) - MM (6 credits - II sem. - OP  |  SECS-P/01) - AFC (6 credits - II sem. - OP  |  SECS-P/01) - CLAPI (6 credits - II sem. - OP  |  SECS-P/01) - CLEFIN-FINANCE (6 credits - II sem. - OP  |  SECS-P/01) - CLELI (6 credits - II sem. - OP  |  SECS-P/01) - ACME (6 credits - II sem. - OP  |  SECS-P/01) - DES-ESS (6 credits - II sem. - OP  |  SECS-P/01) - EMIT (6 credits - II sem. - OP  |  SECS-P/01)
Course Director:
MICHELE POLO

Classes: 31 (II sem.)
Instructors:
Class 31: MICHELE POLO


Course Objectives

The course aims at equipping students with tools to interpret the economics of competition policy, regulation and liberalization. The course reviews the main theoretical tools as well as antitrust cases and regulatory and liberalization plans in network industries and public utilities.


Course Content Summary
  • Competition Policy.
  • History, goals and norms.
  • Market power and social welfare.
  • Market definition and assessment of market power.
  • Horizontal Agreements.
  • Horizontal mergers.
  • Vertical restraints and vertical mergers.
  • Abuse of dominance and foreclosure.
  • Regulation.
  • Natural monopoly and contestability.
  • Optimal regulation under symmetric information: Ramsey pricing.
  • Optimal regulation under asymmetric information: moral hazard and adverse selection.
  • Regulatory schemes: price cap, rate of return, yardstick regulation.
  • Competition for the market and franchise bidding.
  • Liberalizations.
  • Design of the industry structure: horizontal and vertical unbundling.
  • Design of ownership structure: privatization.
  • Design of public policies: antitrust and regulation.
  • Electricity.
  • Gas.
  • Telecoms.
     

Detailed Description of Assessment Methods

The exam is in written form.


Textbooks
  • M. MOTTA, Competition Policy. Theory and Practice, Cambridge, Cambridge University Press, latest edition.

A more complete reading list will be provided.


Prerequisites
A good knowledge of microeconomics and industrial organization at the undergraduate level.
Last change 27/03/2015 12:44