3.0

credits

Average Course Rating

There are two main approaches for implementing government domestic policy: fiscal and regulatory. This is a one-semester course in economic regulation. Economic regulation includes use of market entry and price controls to deal with market imperfections, such as natural monopolies in which competitive markets fail. The course would cover:· the nature of markets and market failure,· a political economy/public choice analysis of the genesis of government intervention,· an evaluation of corrective policies, and· an analysis of alternative regulatory strategies.In addition to the regulation of natural monopolies, potentially competitive markets, and the problem of regulatory capture, the course would cover alternative types of environmental regulation for controlling external social costs. The class would prepare the successful student to examine and interpret problems, policies, programs, and events at all levels of government using the powerful tools of economic analysis applied to government regulation.?