This unit will consider economic concepts relevant to understanding the regulation of markets. Micro-economic theory will be used to highlight the impact of market failures, including market power, information imperfections, externalities and public goods. Practical tools for evaluating regulation, including the structure, conduct and performance framework and cost-benefit analysis will also be covered.<br/><br/>The unit will examine structure and pricing regulation, the regulation of information provision and the use of market instruments in regulation affecting the environment. It will consider both economic and social regulation, including that relating to the fairness of market... -- Course Website
