| CLASS # | TOPICS | READINGS | ASSIGNMENTS |
|---|---|---|---|
| Part I: Review of Firm Behavior and Market Theory | |||
| 1 | The Role of Government. | Viscusi, W. Kip, John M. Vernon, and Joseph E. Harrington. Economics of Regulation and Antitrust. 3rd Ed. Chaps. 1 and 2. (Hereafter "VVH".) | |
| 2 | Markets. | VVH. Chap. 4. | |
| 3 | Markets cont’d. | VVH. Chap. 5. | |
| 4 | The Dominant Firm and Strategic Competition. | VVH. Chap. 6. | |
| Part II: Economic Regulation | |||
| 5 | Introduction to Economic Regulation. | VVH. Chap. 10. | |
| 6 | Public Enterprise. | VVH. Chap. 14. | |
| 7 | Regulating Natural Monopolies: Electric Power Example. | VVH. Chaps. 11 and 12. | |
| 8 | Franchise Bidding: The Case of Cable Television. | VVH. Chap. 13. | |
| 9 | Dynamic Issues in Natural Monopoly Regulation: Telecommunication Example. | VVH. Chap. 15. | |
| 10 | Dynamic Issues in Natural Monopoly Regulation: Telecommunication Example 2. | Council of Economic Advisors. Appendix 2: "Case Study of Finnish Wireless Cluster." Klemperer, P. "How (not) to Run Auctions: The European 3G Telecom Auctions." Pp. 829-845. |
|
| 11 | Transportation Regulation. | VVH. Chap. 17. | |
| 12 | Review for Midterm Examination. | ||
| 13 | Midterm Examination in Class, Closed Book. | ||
| 14 | Midterm Examinations Returned. | ||
| 15 | Problems of Regulation: The Case of UK Railway Privatisation. | Pollitt, M. G., and A. J. Smith. "The Restructuring and Privatisation of British Rail: Was it really that bad?" Pp. 463-502. | |
| 16 | Problems of Regulation: The Case of Californian Electricity Deregulation. | Joskow, P. "California’s Electricity Crisis." Pp. 365-388. | |
| Part III: Social Regulation | |||
| 17 | Externalities. | VVH. Chap. 19. | |
| 18 | The Value of Life. | VVH. Chap. 20. | |
| 19 | Environmental Regulation 1. | VVH. Chap. 21. Hahn, Robert W. "Economic Prescriptions for Environmental Problems: How the Patient Followed the Doctor's Orders." Pp. 95-114. |
|
| 20 | Environmental Regulation 2: Markets for Clean Air. | Joskow, P. L., R. Schmalensee, and E. M. Bailey. "The Market for Sulfur Dioxide Emissions." Pp. 669-85. | |
| 21 | Environmental Regulation 3: Regulating the Global Commons. | Chichilinisky, G., and G. Heal. "Global Environmental Risks." Pp. 65-86. | |
| 22 | The Regulation of Workplace Safety. | VVH. Chap. 23. | |
| 23 | Pharmaceuticals. | VVH. Chap. 24. | |
| 24 | Regulation of the Internet: Should the State have Protected Napster? | Klein, B., A. V. Lerner, and K. M. Murphy. "The Economics of Copyright 'Fair Use' in a Networked World." Pp. 204-208. Boldrin, M., and D. Levine. "The Case Against Intellectual Property." Pp. 209-212. Silva, F., and G. B. Ramello. "Sound Recording Market: The Ambiguous Case of Copyright and Piracy." Pp. 415-442. |
|
| 25 | Conclusion. Revision for Final Exam. | ||
| 26 | Final Exam. | ||
