EC974-7-AT-CO:
Lectures in Economic and Public Policy
2022/23
Economics
Colchester Campus
Autumn Special
Postgraduate: Level 7
Current
Thursday 06 October 2022
Friday 16 December 2022
20
21 February 2023
Requisites for this module
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(none)
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This policy-oriented module probes the role and limits of government interventions in the microeconomic management of developed economies.
In so doing, the analysis emphasises: (i) examination of the most common market failures and evaluation of options available for government to address them; and (ii) the factors that determine the choice and design of economic and regulatory policies to address these market failures given governments' political objectives. The module then goes on to explore the emergence of government failures and the reasons why the interactions between economics and politics impose constraints on the design of public policies, thereby enabling students to appreciate the associated policy issues and trade-offs.
More specifically, the module focuses on three aspects of the economy. First, the module examines competition policy by analysing monopoly industries: the sources, creation and exercise of monopoly power and the associated practice of monopoly regulation in the context of the general principles noted above. Second, the module probes the challenges and opportunities that arise in urban economies. Cities are the locus of global economic dynamism. Dense urban spaces offer external economies that find expression as: improving the access of firms to markets and their prospects for innovation, and benefits for workers, by increasing both their productivity and their leisure opportunities. However, density also creates external diseconomies taking the form of greater congestion, higher housing costs, and elevated risk of disease exposure. The module formulates and evaluates key policy issues in this context, based around the monocentric city model. Finally, the module identifies a broad range of concepts, theories, and topics related to the economics of health and health care. It enables students to build on the insights of microeconomic theory and to gain an appreciate of how governments balance efficiency and equity concerns in setting health policy.
The aims of this module are:
* To provide students with an analytical grasp of public policy at the microeconomic level, with a focus on: competition policy; urban planning and policy, and health care provision.
* To enable students to be able to analyse the behaviour of monopoly firms and to assess the difficulties faced by a regulator in controlling these behaviours.
* To equip students with a critical appreciation of why governments can play pivotal role in urban planning and the health care sector.
By the end of this module, students will be expected to be able to:
1. Demonstrate a comprehensive understanding of the main types of market failure and the key reasons for government intervention to address these failures.
2. Demonstrate the capability to assess the implications of the success, or otherwise, of government interventions designed to mitigate the identified market failures
3. Demonstrate an understanding of the basis of: competition policy; urban policy; health care policy.
4. Demonstrate the capability to articulate, to analyse and to evaluate the policy debates that arise in the context of (i) competition policy, (ii) urban policies to accentuate the benefits of external economies while mitigating the impact of external diseconomies, and (iii) the opportunities afforded by health care policies, together with the associated challenges of their implementation.
Syllabus Information
* Introductory Concepts in Competition Policy, and Merger Policy - Motta, chs 1, 2, 3
* Antitrust policy – Collusion and Exclusion - Motta, chs 4, 5, 6
* Special Issues in the Digital Economy - European Commission Report: Competition Policy for the Digital Era (Final Report), 2019, by Cremer, Montjoye, and Schweitzer
* Introduction to Urban Economic Policy – Key Economics Concepts for Urban Areas - O'Sullivan chs 1&2
* Amenities and Agglomeration – Sprawl and Market Failures in Cities - O'Sullivan: chs 4-6
* Private and Public Policy Responses – Tiebout, Trams, and more - O'Sullivan, chs 18-20
* Socioeconomic disparities in health - Bhattacharya, Hyde and Tu, ch 4
* Equity and efficiency concerns in health policy - Bhattacharya, Hyde and Tu, ch 15
* Different models of health policy - Bhattacharya, Hyde and Tu, ch 16
* Student Presentations
The module will be delivered via:
1. One 1-hour seminar per week
2. One 2-hour lecture per week
This module does not appear to have a published bibliography for this year.
Assessment items, weightings and deadlines
| Coursework / exam |
Description |
Deadline |
Coursework weighting |
| Coursework |
Presentation - Submission of slides |
|
|
| Coursework |
Term Paper |
|
|
Exam format definitions
- Remote, open book: Your exam will take place remotely via an online learning platform. You may refer to any physical or electronic materials during the exam.
- In-person, open book: Your exam will take place on campus under invigilation. You may refer to any physical materials such as paper study notes or a textbook during the exam. Electronic devices may not be used in the exam.
- In-person, open book (restricted): The exam will take place on campus under invigilation. You may refer only to specific physical materials such as a named textbook during the exam. Permitted materials will be specified by your department. Electronic devices may not be used in the exam.
- In-person, closed book: The exam will take place on campus under invigilation. You may not refer to any physical materials or electronic devices during the exam. There may be times when a paper dictionary,
for example, may be permitted in an otherwise closed book exam. Any exceptions will be specified by your department.
Your department will provide further guidance before your exams.
Overall assessment
Reassessment
Module supervisor and teaching staff
Yes
Yes
Yes
Miss Maria Kyriacou
Available via Moodle
No lecture recording information available for this module.
Economics
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