Class Ecnomic Regulation and Markets

In this course we consider the role of independent regulators in the economy. We discuss the reasons that justify a regulatory intervention, the role of independent regulators, what are the regulatory instruments and what are the consequences of this type of intervention. We explore the regulatory practice in Portugal, discussing the role played by independent regulators, their statutes and intervention. We also studied the role of the competition authority and the application of competition law.

Not applicable

Regulation in Portugal  Regulators   Competition Authority  Regulation: Concept and Foundations  Definition of Economic Regulation and Other Concepts  Regulation and Competition Defense  The Regulation Cycle  Institutional Framework of Regulation  Regulatory Intervention Models  Institutional Design of Regulation  Portuguese Regulation Regime  Theories of Regulation: Fundamentals  Economic Efficiency   Why and When to Regulate: Market Failures  (Alternative) Theories of Regulation  Instruments of Economic Regulation  The Regulation of Natural Monopolies and the Challenge of Social Optimum  . Direct State Intervention  Intervention for Price  Regulation in Asymmetric Information Environments  Market Mechanisms to Respond to Your Failures  Competition Law – Objectives and Introductory Concepts  The Methodology of Competitive Analysis  Concepts of legal analysis 

The discipline is taught combining a theoretical and practical approach, alternating the teaching of theoretical concepts with the discussion of practical situations or numerical exercises The reading of fundamental texts is encouraged. In compliance with what is established by the University ‘s pedagogical rules, students can choose a continuous evaluation regime with the following rules: 1. A student should attend to more than 75% of the classes taught. 2. The continuous assessment system includes a Test, to be carried out at the end of the academic semester, and the presentation of a paper (in writing and oral presentation). A student who does not opt for continuous assessment is assessed by a final exam

Ferreira, J., Cabugueira, M., Silva, M., Marques, N. e Marcelo, P. (2024) “Manual de Regulação e Concorrência”, Almedina (https://www.almedina.net/manual-de-regulacao-e-concorrencia-1703905209.html)   João Confraria (2010) ¿Regulação e Concorrência, Desafios do século XXI¿, Economia Colecção: Campus do Saber, - Nº10 Ano: 2010, 2ª Edição Noll, Roger G., ¿Economic perspectives on the politics of regulation¿, in Schmalensee, Richard and Willig, Robert ed., ¿Handbook of Industrial Organization¿, Volume 2, North Holland, 1989, Chapter 22 Braeutigam, Ronald R. ¿Optimal policies for natural monopolies¿, in Schmalensee, Richard and Willig, Robert ed., ¿Handbook of Industrial Organization¿, Volume 2, North Holland, 1989, Chapter 23 Viscusi, W. Kip.; Vernon, John Mitcham; Harrington, Joseph Emmett, (1995), ¿Economics of Regulation and Antitrust¿, MIT Press Bishop, S. and Walker, M. (2010), ¿The Economics of EC Competition Law: Concepts, Application and Measurement¿, Sweet and Maxwel