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SOK-2036: The Economics of Regulation Work Load
10 credits (ECTS) | Type of course
Theoretical subject. | Level of course/Year of study
Normally second year. | Language of instruction
Norwegian | Examination semester
Spring
| Objectives
To enable the students to evaluate different regulatory regimes, with a particular emphasis on economic efficiency.
To give students insight into how the theory of incentives can be used to design economic regulation to achieve a better utilisation of scarce resources.
| Contents
Governments can influence and guide the use of resources in society by the use of different instruments, and one of the goals of regulation is to improve economic efficiency. A classic example of regulatory intervention is found in the regulation of natural monopolies. Regulatory interventions can affect firms'' incentives related to efficiency in production, but may also affect the incentives to invest in R&D and other essential infrastructure. This course will examine how the regulatory mechanisms should be designed to best ensure economic efficiency, in particular in those settings where the regulatory body has only imperfect information about relevant factors (such as costs and demand). The interplay between regulation and competition policy will also be examined. | Form of teaching
The course has multiple teaching approaches | Exam and assessment
Written exam and compulsory exercises. | Recommended reading/syllabus
Available on request | Homepage
http://www.nfh.uit.no
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