EC31610 - PRIVATISATION AND REGULATORY ECONOMICS

Module Identifier	EC31610
Module Title	PRIVATISATION AND REGULATORY ECONOMICS
Academic Year	2001/2002
Co-ordinator	Dr Mark Rhodes
Semester	Semester 2
Pre-Requisite	EC30230 or (EC31410 and EC36420)
Course delivery	Lecture	10 Hours
	Seminars / Tutorials	4 Hours
Assessment	Course work	Essay	20%
	Exam	1.5 Hours	80%

Aims

This third year semester 2 module discusses the privatisation, and approaches to regulation, of public utility companies. We start from an explanation of the size, cost and market structure for these sectors. The case for privatisation and the welfare arguments for regulation are then examined. Different approaches to regulation are discussed and their application and experience in practice are examined. Topics will be presented in formal lectures and discussed in smaller classes. Independent work through reading, discussion and the completion of exercises is an integral part of the learning process for the module.

Learning outcomes

On completing this module students will:

Be able to describe the size and importance of network utilities to the UK economy
Be able to discuss the economic case for privatisation
Justify the continuing case for regulation.
Have the skills to analyse and critically interpret the merits of different regulatory models.
Assess how different models have been applied in practice.
Be able to critically examine the practical effects of a regulatory approach.
Posses detailed knowledge of the post privatisation experiences of at least two UK sectors.

Reading Lists

Books
P M Jackson and C M Price. (1994) Privatisation and regulation: a review of the issues. Longman
S Martin and D Parker. (1997) The impact of privatisation: Ownership and corporate performance in the UK. Routledge
D Newbery. (1991) Privatisation, restructuring and regulation of network utilities. MIT Press
J Vickers and G Yarrow. (1988) Privatisation: An economic analysis. MIT Press
M Waterson. (1988) Regulation of the firm and natural monopoly. Blackwell