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2018/19 Taught Postgraduate Module Catalogue

TRAN5271M Economics of Regulation

15 creditsClass Size: 40

Module manager: Jeremy Toner
Email: J.P.Toner@its.leeds.ac.uk

Taught: Semester 2 View Timetable

Year running 2018/19

Pre-requisite qualifications

Prior economics experience required; discuss with tutor in advance.

This module is not approved as an Elective

Module summary

This course aims to provide students with a thorough understanding of the costs and benefits of alternative approaches to correcting market failure in respect of public utilities, such as in the transport sector (a variety of modes will be explored). Consideration will be given to theoretical contributions and empirical evidence. The course will focus on UK examples, but will also consider international evidence where appropriate to draw out important similarities and differences with the UK case. The question of how best to regulate and involve the private sector notably in the public utilities, transport, continues to be a major issue in the UK and internationally. In the UK and elsewhere, the public utilities are the source of considerable employment opportunities for micro economists, either directly in the regulation departments of the firms themselves, or indirectly through employment at the industry regulators, relevant government department and consultancy firms.

Objectives

This course aims to provide students with a thorough understanding of the costs and benefits of alternative approaches to correcting market failure in respect of public utilities, and in particular the transport sector (a variety of modes will be explored). Consideration will be given to theoretical contributions and empirical evidence.

The course will focus on UK examples, but will also consider international evidence where appropriate to draw out important similarities and differences with the UK case.

Learning outcomes
Students will develop;
-a thorough understanding of the costs and benefits of alternative approaches to correcting market failure in respect of public utilities
- understanding of the different forms of regulation available and the advantages and disadvantages of each
- ability to apply the key concepts and approaches developed in the module to the consideration of the appropriate way to regulate a selected public utlity industry through completion of a coursework report.


Syllabus

- Theories of regulation
- market failure
- responses to market failure
- privatisation and its comparison with state ownership and mixed models
- competition policy
- non-market failure
- models of economic regulation
- efficiency analysis in regulatory reviews
- sectoral applications include a variety of transport modes, and other public utilities

Teaching methods

Delivery typeNumberLength hoursStudent hours
Lecture102.0020.00
Private study hours130.00
Total Contact hours20.00
Total hours (100hr per 10 credits)150.00

Opportunities for Formative Feedback

Progress will be monitored informally through discussion in the lectures and formally through the coursework to be submitted during the course of the module.

Students may make an appointment to meet the lecturer to discuss questions / problems.

Methods of assessment


Coursework
Assessment typeNotes% of formal assessment
Essay3,000 words33.30
Total percentage (Assessment Coursework)33.30

Normally resits will be assessed by the same methodology as the first attempt, unless otherwise stated


Exams
Exam typeExam duration% of formal assessment
Standard exam (closed essays, MCQs etc)2 hr 00 mins66.70
Total percentage (Assessment Exams)66.70

Normally resits will be assessed by the same methodology as the first attempt, unless otherwise stated

Reading list

The reading list is available from the Library website

Last updated: 12/12/2018 16:33:10

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