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.

Aims:
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 some prior grounding in/ introductory knowledge of microeconomics. 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 analyze 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 market failures in different markets and consider ways in which these failures can be overcome using standard economic tools and concepts.
•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.Theories of market failures.
2.Reasons for and types of government intervention.
3.Consequences of regulation for economic welfare.
4.Regulatory applications in the field of business, finance, international business etc.

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. A 2-hour seminar is dedicated to project development and preparation.

Contact hours:
  Autumn Spring Summer
Lectures 20
Seminars 2
Guided independent study 178
       
Total hours by term 200.00
       
Total hours for module 200.00

Summative Assessment Methods:
Method Percentage
Written assignment including essay 20
Project output other than dissertation 70
Class test administered by School 10

Other information on summative assessment:
Assessment is by coursework only: one 2,000 word essay (worth 20% of the overall mark), one 2-hour written test (10% of overall mark) and one 5000 word project (worth 70% of overall mark). Submission of essay and class test will be in the autumn term. Submission of project is the final day of the Spring term.

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: http://www.reading.ac.uk/internal/exams/student/exa-guidePG.aspx.
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: http://www.reading.ac.uk/internal/exams/student/exa-guidePG.aspx

Length of examination:
There is no final examination; this module is assessed by coursework only.

Requirements for a pass:
A weighted average coursework mark of 50%.

Reassessment arrangements:
Re-assessment will be on the basis of a further 5000 word project. This cannot be a re-submission of the earlier project.
Assignments for re-assessment are required to be submitted by 21st August 2015.

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: 21 December 2016

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