Summary module description:
A foundation to the theory of regulation - why governments need to regulate markets, the different forms of regulation and the costs and benefits of such regulation.

The module is expected to provide a foundation to the theory of regulation, why governments need to regulate markets, the different forms of regulation and the costs and benefits of such regulation. Students are expected to have intermediate level economics. The aim of this module is to
- provide a grounding into the knowledge and understanding of the economic analysis that underlies the intervention of governments into markets;
- give students analytical skills to understand problems of regulation in all spheres - business, finance, public utilities etc.;
- provide students with the ability to analyse regulation issues in terms of their implications for social welfare and economic efficiency.
The approach is mainly analytical but also looks at some real world examples.

Assessable learning outcomes:
On completion of the module students should be able to:
- Analyse regulation issues in general.
- Analyse the impact of both the initial failure as well as the solutions that are used to overcome them.
- Read primary literature in the area.

Additional outcomes:
Students will develop general analytical skills and will also master the ability to work independently under pressure of restricted time frames and make their own decisions on the organisation of their work. They will also develop generic skills for future employment and career development.

Outline content:
1. Introduction to regulation (including regulatory capture)
2. Natural monopoly and its regulation
3. Environmental regulation; Health & Safety
4. Financial regulation

Brief description of teaching and learning methods:
Detailed guidance on the main topics of the syllabus and key references are provided in 10 x 2 hour sessions of lectures. Students are required to do a significant amount of reading of journal articles, chapters of books, statistical sources and websites of national and international organisations. Lectures will involve considerable student input, often in the form of discussion based on allocated readings.

Contact hours:
  Autumn Spring Summer
Lectures 20
Guided independent study 80
Total hours by term 100.00
Total hours for module 100.00

Summative Assessment Methods:
Method Percentage
Written assignment including essay 65
Class test administered by School 35

Other information on summative assessment:
One 3,000 word essay (worth 65% of the overall mark) and a written test (35%).

Formative assessment methods:

Penalties for late submission:
Penalties for late submission on this module are in accordance with the University policy. Please refer to page 5 of the Postgraduate Guide to Assessment for further information:

Length of examination:

Requirements for a pass:
A mark of 50% overall.

Reassessment arrangements:
By examination only (coursework will not be included in the re-assessment) in August/September of the same year.

Additional Costs (specified where applicable):
1) Required text books:
2) Specialist equipment or materials:
3) Specialist clothing, footwear or headgear:
4) Printing and binding:
5) Computers and devices with a particular specification:
6) Travel, accommodation and subsistence:

Last updated: 31 March 2017

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