Markets and Regulation

Uitgebreide vaknaam	Markets and Regulation
Leerdoelen	After having completed this module, students will be able to • describe the central concepts and theories of markets and regulation, including efficiency, welfare and transaction costs; • explain which types of regulation are needed for markets to work; • clarify the various forms of market failure, the welfare impact of government interventions and regulatory failure, using international examples; • explain when efficiency and the rule of law are in harmony and when they may collide; • discuss laws and regulations from an economic perspective as well as legal options to improve their efficiency in a global setting; • apply simple micro- and macro-economic techniques.
Omschrijving	The central question of this course is: how to balance efficiency with the rule of law in the regulation of markets in an international and European context? The interactions between states as well as the cross-border market transactions between companies and individuals are regulated by means of international and European law. Examples will be discussed of laws and regulations that are efficient and those that are not. The examples will be international and comparative, based on economic theory and empirical research, ranging from Europe to Africa, the Americas, Asia and Australia. Where politicians can help or hamper efficiency by changing the ‘rules of the game’, lawyers can propose legal changes and interpret the existing rules in such a way that efficiency is improved. Students will actively discuss whether and how lawyers should balance efficiency with the rule of law in international and European market regulations.
Uren per week	4
Onderwijsvorm	hoorcollege (14 2-hour lectures (during the block))
Toetsvorm	schriftelijk (essayvragen) (digitaal)
Vaksoort	b-niveau, niet-juridisch
Coördinator	prof. dr. E. Woerdman
Docent(en)	Dr. F.G. Tiche ,prof. dr. E. Woerdman
Verplichte literatuur	Titel Auteur ISBN Prijs The Economy: Economics for a Changing World (2017, Oxford University Press / CORE Team). Free e-book via UG library. Bowles, S., W. Carlin and M. Stevens 9780198810247
Entreevoorwaarden	This course is only accessible for students that have obtained at least 45 EC from their first year courses at research university level or that participate in a pre-approved pre-master or decree programme. Not accessible for students who have passed Introduction to Economics (RGBEO00405) before 1-9-2020.
Opmerkingen	Free e-book via UG library.
Opgenomen in	Opleiding Jaar Periode Type Exchange programme Law 1 semester II b optional LLB International and European Law 2 semester II b verplicht Open Colleges 1 semester II b keuze Pre-LLM International and European Law: track Energy and Climate Law 1 semester II b compulsory Pre-LLM International and European Law: track International Commercial Law 1 semester II b compulsory