14.23 Government Regulation of Industry, Spring 2003
The objective of this course is to introduce you to the role of government in markets where competitive equilibria “fail.” In this course we will emphasize the importance of market structure and industrial performance, including the strategic interaction of firms. We will examine...
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| Language: | en-US |
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2023
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| Online Access: | https://hdl.handle.net/1721.1/152437 |
| _version_ | 1811085114025705472 |
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| author | Pollitt, Michael |
| author_facet | Pollitt, Michael |
| author_sort | Pollitt, Michael |
| collection | MIT |
| description | The objective of this course is to introduce you to the role of government in markets where competitive equilibria “fail.” In this course we will emphasize the importance of market structure and industrial performance, including the strategic interaction of firms. We will examine the behavior of individual markets in some detail, focusing on cost analysis, the determinants of market demand, investment behavior, market power, and the implications of government regulatory behavior. The course will be broken into three parts. In the first part, we will review firm behavior and the theory of the market. Here, we will discuss perfectly competitive markets (our “benchmark”), efficiency, market structure, strategic competition, and productivity. Once the foundations of the market are well understood, we will then move on to the second part of the course, where we will study “economic” regulation. Here, we will look at the behavior of natural monopolies and regulatory options for dealing with them. And in the third part of the course, we will study “social” regulation—focusing on environmental, health, and safety regulation. |
| first_indexed | 2024-09-23T13:03:08Z |
| id | mit-1721.1/152437 |
| institution | Massachusetts Institute of Technology |
| language | en-US |
| last_indexed | 2024-09-23T13:03:08Z |
| publishDate | 2023 |
| record_format | dspace |
| spelling | mit-1721.1/1524372023-10-17T03:29:02Z 14.23 Government Regulation of Industry, Spring 2003 Government Regulation of Industry Pollitt, Michael General equilibrium capital theory incomplete markets externalities public goods Industrial policy 450699 Economics, Other. The objective of this course is to introduce you to the role of government in markets where competitive equilibria “fail.” In this course we will emphasize the importance of market structure and industrial performance, including the strategic interaction of firms. We will examine the behavior of individual markets in some detail, focusing on cost analysis, the determinants of market demand, investment behavior, market power, and the implications of government regulatory behavior. The course will be broken into three parts. In the first part, we will review firm behavior and the theory of the market. Here, we will discuss perfectly competitive markets (our “benchmark”), efficiency, market structure, strategic competition, and productivity. Once the foundations of the market are well understood, we will then move on to the second part of the course, where we will study “economic” regulation. Here, we will look at the behavior of natural monopolies and regulatory options for dealing with them. And in the third part of the course, we will study “social” regulation—focusing on environmental, health, and safety regulation. 2023-10-16T21:21:43Z 2023-10-16T21:21:43Z 2003-06 2023-10-16T21:21:52Z 14.23-Spring2003 14.23 IMSCP-MD5-14afc4652d9f146d0652ca143c3b5220 https://hdl.handle.net/1721.1/152437 en-US http://www.core.org.cn/OcwWeb/Economics/14-23Government-Regulation-of-IndustrySpring2003/CourseHome/index.htm This site (c) Massachusetts Institute of Technology 2023. Content within individual courses is (c) by the individual authors unless otherwise noted. 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| spellingShingle | General equilibrium capital theory incomplete markets externalities public goods Industrial policy 450699 Economics, Other. Pollitt, Michael 14.23 Government Regulation of Industry, Spring 2003 |
| title | 14.23 Government Regulation of Industry, Spring 2003 |
| title_full | 14.23 Government Regulation of Industry, Spring 2003 |
| title_fullStr | 14.23 Government Regulation of Industry, Spring 2003 |
| title_full_unstemmed | 14.23 Government Regulation of Industry, Spring 2003 |
| title_short | 14.23 Government Regulation of Industry, Spring 2003 |
| title_sort | 14 23 government regulation of industry spring 2003 |
| topic | General equilibrium capital theory incomplete markets externalities public goods Industrial policy 450699 Economics, Other. |
| url | https://hdl.handle.net/1721.1/152437 |
| work_keys_str_mv | AT pollittmichael 1423governmentregulationofindustryspring2003 AT pollittmichael governmentregulationofindustry |