The aim of the course is to provide students with rigorous economic tools for the analysis of competition and regulation policies.
We will analyse and discuss the economic motivations underlying public intervention for regulation of markets and with particular interest on the analysis of the main regulatory tools and on economic issues underlying antitrust policies. In the first part of the course we will focus on the analysis of auctions and procurement mechanisms. The second part will focus on the analysis of regulation and competition policies from the theoretical point of view with attention also to the empirical evidence.
At completion of the course students should be able to:
- Understand and evaluate critically the justifications for the public intervention in the regulation of markets.
- Analyse and assess rigorously the economic implications of auction and procurement mechanisms.
Students should be able to demonstrate:
- Understanding and mastering of the relevant aspects of game theory and their application to the analysis of strategic behaviour of firms. In particular students should be able to apply these concepts to both numerical problems and case studies related to the definition of optimal pricing and quality strategies for firms in general auctions or procurement auctions.
- To be able to presenting their arguments rigorously in a limited amount of time by identifying and selecting the relevant aspects to focus on.
- To have acquired appropriate competence on the issues discussed in the module, so that to be able to apply the related concepts to the analysis of case studies.
The exam is composed by open questions, exercises and brief analysis of case studies. Each question can be divided into sections that may cover all these method of evaluation. The contribution of each question to the final evaluation is made explicit in the exam.
A sample copy of exam paper is available at the e-learning web page of the module.