MARKETS, REGULATIONS AND LAW
Instructional goals
Train students on the law and economics of antitrust and regulation
Intended learning outcomes
After studying this course, the student should be able to:
Demonstrate a critical understanding of the economic behavior of individual and collective agents.
Apply different theories of market structures and perspectives in market analysis.
Demonstrate a general knowledge of the origins, structure and functioning of legal systems.
Compare different legal systems and their development.
Demonstrate an awareness of the impact of law on markets and business performance.
Demonstrate a general knowledge of the main theories and types of economic regulation.
Identify, explain and critically assess key regulatory issues relevant to market and business practice in different industries.
Course Contents
Law and economics of antitrust and regulation; property rights, liability rules, commons, anticommons and semicommons; elements of liberalization and market regulation; cost-benefit analysis and regulatory impact assessment.
Reference Books
Teaching materials will be available on the Learn platform (http://learn.luiss.it ) at the outset of the course
Teaching Methods
Frontal teaching, interactive discussion, case studies, seminars
Assessment Method
Attending students: in-class group presentations (30%), intermediate evaluation test (30%), seminars participation (10%), and final written exam (30%).
Non-attending students: individual home assignment (60%), seminars participation (10%), and final written exam (30%).
Thesis assignment criteria
Relevance of the topic proposed
Week 1
Regulation: rationales, aims, criteria and strategies. Market failures. Regulatory strategies.
Week 2
Basic economics of regulation. Network industries and the liberalization process: the Regulatory State. Price regulation.
Week 3
Principles of antitrust law and economics. Essential facility doctrine in EU and U.S.. Seminar.
Week 4
Two- and multi-sided markets. Regulation vs. antitrust.
Week 5
Digital platforms regulation: Digital Markets Act and U.S. proposals. Seminar.
Week 6
The margin squeeze in EU and U.S.. Seminar.
Week 7
Sharing economy. Seminar.
Week 8
Regulation of the biopharmaceutical industry.
Week 9
Telecommunications regulation.
Week 10
Net neutrality. Seminar.
Week 11
Zero-rating offers. In-class presentations.
Week 12
In-class presentations. Wrap-up class.