Economics of Regulation and Public Choice
| Code | School | Level | Credits | Semesters |
| BUSI3166 | Nottingham University Business School | 3 | 20 | Spring Malaysia |
- Code
- BUSI3166
- School
- Nottingham University Business School
- Level
- 3
- Credits
- 20
- Semesters
- Spring Malaysia
Summary
This module covers the two broad areas of public choice and regulation. The first part of the module examines the processes and influences involved in the making of UK economic policy, from a public choice perspective. Topics covered include advanced market failure, policy systems, voting, bureaucracy and pressure groups. The second part of the module covers topics including natural monopoly regulation; retail price control; access pricing; universal service obligations; franchising and nationalisation.
Target Students
Available to Part II Business School students who have the required pre-requisites BUSI2164 Industrial Economics II: Economics of Pricing and Decision Making.
Classes
- One 1-hour-30-minute seminar each week for 4 weeks
- One 3-hour lecture each week for 11 weeks
Assessment
- 50% Coursework 1: One 2000 word individual coursework
- 50% Exam (1-hour-30-minute): One 1.5-hour examination
Assessed by end of spring semester
Educational Aims
To develop an understanding of the processes and influences involved in economic policymaking in the United Kingdom, using a public choice framework. To develop an understanding of the main issues relating to the regulation of industries and to apply economic reasoning in a critical manner to regulated industries.Learning Outcomes
Knowledge and understanding
This module develops a knowledge and understanding of:
- The development of appropriate policies and strategies within a changing environment to meet stakeholder interests.
- The need for individuals and organisations to manage responsibly and sustainably and behave ethically in relation to social, cultural, economic and environmental issues.
- The applications of economics. To discover how to apply relevant economic principles and reasoning to a variety of applied topics, in particular in the fields of industrial organisation and managerial economics.
- Understanding of distinctive economic theories, interpretations and modelling approaches, and their competent use.
Intellectual skills
This module develops:
- The ability to analyse facts and circumstances to determine the cause of a problem and identifying and selecting appropriate solutions.
- Conceptual and critical thinking, analysis, synthesis and evaluation.
- The ability to adopt an interdisciplinary perspective on policy design and implementation, combining insights from political science and economics.
Transferable (key) skills
This module develops:
- Communication and listening including the ability to produce clear, structured business communications in a variety of media.
- Self-management and a readiness to accept responsibility and flexibility, to be resilient, self-starting and appropriately assertive, to plan, organise and manage time.
- An awareness of the interpersonal skills of effective listening, negotiating, persuasion and presentation and their use in generating business contacts.
- Articulating and effectively explaining information.
Conveners
- Dr Hway Boon Ong
- Dr Wye Leong Roy Khong