|| EC31610 |
|| PRIVATISATION AND REGULATORY ECONOMICS |
|| 2003/2004 |
|| Dr Mark J Rhodes |
|| Semester 2 |
|| EC30230 or (EC31410 and EC36420) |
| Course delivery
|| Lecture || 10 Hours |
|| Seminars / Tutorials || 4 Hours |
|Assessment Type||Assessment Length/Details||Proportion|
|Semester Exam||1.5 Hours ||80%|
|Semester Assessment|| Essay||20%|
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.
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.
M Armstrong, S Cowan and J Vickers (1994) Regulatory Reform: Economic Analysis and British Experience
J Vickers and G Yarrow (1988) Privatisation: An economic analysis
S Martin and D Parker (1997) The impact of privatisation: Ownership and corporate performance in the UK
M Waterson (1988) Regulation of the firm and natural monopoly
P M Jackson and C M Price (1994) Privatisation and regulation: a review of the issues
I Stelzer (Nov, 2000) A review of privatisation and regulation experience in Britain
IEA Lecture, Source http://www.iea.org.uk/wpapers/regstelzer2000
D Helm (2001) Making Britain more competitive: A critique of regulation and competition policy
Scottish Journal of Political Economy, Vol.48, No.5, pp.471-487.
D Newbery (1999) Privatisation, restructuring and regulation of network utilities
D Newbery (1997) Privatisation and liberalisation of network utilities
European Economic Review 41, pp.357-383
This module is at CQFW Level 6