PUBLIC REGULATION OF INDUSTRIES

ECON435

Course Code: ECON435
Semester: -
Theory+Practice: 3 + 0
ECTS: 5

Course Type

Elective Course

Course Level

Bachelor's Degree

Year of Study

Semester

ECTS

Name of Lecturer(s)

Learning Outcomes

At the end of this course, the students;

Understand reasons for and methods of public regulation of industries.
Understand the reasons and methods of regulation of selected industries.

Mode of Delivery

Face to face

Prerequisites

Recommended Optional Programme Components

None

Course Description

The main objective of this course is to introduce the role of government in markets where benefits of competitive markets i.e. equilibria can not be achieved. The course emphasizes the importance of market structure and industrial performance. Besides presenting the main issues of antitrust policy, the characteristics of specific industries and the role of the government regulation in these industries are also covered in detail.

Course Contents

WEEK	TOPICS
1^st Week	Introduction
2^nd Week	Market Efficiency and Failures
3^rd Week	History of the Idea of Monopoly
4^th Week	Week Natural Monopoly and Regulation
5^th Week	Week Alternatives to Regulation
6^th Week	Week Critical Theories of Regulation
7^th Week	Midterm Exam
8^th Week	Week Basics of Competition (Antitrust) Law and the Competition Law-Regulation Relationship
9^th Week	Regulation of the Electricity Industry
10^th Week	Regulation of the Electricity Industry
11^th Week	Regulation of the Telecommunications Industry
12^th Week	Regulation of the Telecommunications Industry
13^th Week	Regulation of Financial Markets
14^th Week	Regulation of Digital Markets/Platforms

Recommended or Required Reading

W. Kip Viscusi (2005), John M. Vernon and Joseph E.
Harrigton, Jr., Economics of Regulation and Antitrust.
Cambridge; MASS: The MIT Press
R. Posner (1974), "Economic Theories of Regulation", Bell
Journal of Economics and Management Science.
E. Butler (2012), "Public Choice: A Premier", IEA Publications
Türkiye'de Elektrik Sektöründe Reform Süreci, Regülasyon ve
Rekabet Politikası, Bağdadioğlu, N., Başaran, A.,
SOSYOEKONOMI, cilt.6, sa.12, ss.137-148, 2010
P. Joskow (1997), "Restructuring, Competition and Regulatory
Reform in the US. Electricity Sector", Journal of Economic
Perspectives, Vol. 11, No.3, 119-138.
De Roover, R. (1951). Monopoly Theory Prior to Adam Smith: A
Revision, The Quarterly Journal of Economics, 65(4), 492-524
K. Yılmaz (2001), "Türk Telekomünikasyon Sektöründe
reform", içinde, TESEV, Devletin Düzenleyici Rolü. İstanbul.
İktisadi Düşünce Tarihi, A. Küçükkalay, 2019, Beta Yayınları
OECD (2003), Competition and Regulation Issues in
Telecommunications, OECD Journal of Competition Law and
Policy Volume 5, No. 3
J. Stiglitz and J. Rosengrad, (2015), "Economics of the Public
Sector", W. W. Norton & Company
Shleifer, A. (2005), Understanding Regulation, European
Financial Management, Vol. 11, No. 4, 2005, 439?451
D. S. Evans and R. Schmalensee (2008), Markets with Two-Sided
Platforms, Issues in Competition Law and Policy 667 667 (ABA
Section of Antitrust Law 2008)

Planned Learning Activities and Teaching Methods

Lecture
Discussion

Assessment Methods and Criteria

	Quantity	Percentage (%)
Mid-term	1	40
Quiz	1	10
Total(%)		50
Contribution of In-term Studies to Overall Grade(%)		50
Contribution of Final Examination to Overall Grade(%)		50
Total(%)		100

ECTS Allocated Based on Student Workload

Activities	Quantity	Duration (Hour)	Total Workload (Hour)
Midterm exam	1	1	1
Preparation for Quiz	1	9	9
Individual or group work	14	3	42
Preparation for Final exam	1	30	30
Course hours	14	3	42
Preparation for Midterm exam	1	25	25
Laboratory (including preparation)
Final exam	1	1	1
Homework
Total Work Load			150
Total Work Load / 30 (h)			5
ECTS Credit of the Course			5

Language of Instruction

Turkish

Work Placement(s)

Programme Qualifications / Learning Outcomes

	LO1	LO2
K1	X	X
K2	X	X
K3
K4
K5
K6
K7	X	X
K8
K9
K10
K11
K12
K13