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Circular and Energy Economics
Competition and Economic Regulation

Competition and Economic Regulation

Code	18185
Year	1
Semester	S1
ECTS Credits	6
Workload	TP(30H)
Scientific area	Economics
Entry requirements	NA
Learning outcomes	The objectives of the curricular unit (CU) are: - Consolidate knowledge within the scope of microeconomic policy in an economy; - Understand the relevance of public intervention in markets, via competition and regulatory policies; - Understand regulatory issues in natural monopolies and network industries; - Analyze the regulation of the utility industries; - Understand the importance of information and uncertainty in decision making - Analyze the role of contracts and incentives in the face of moral hazard and adverse selection behavior by economic agents. At the end of the UC, the student must be able to understand the need for public intervention, both from the perspective of competition and regulation. They acquire competition and regulatory tools to analyze and intervene in real market situations. Students also understand the importance of mastering information and contract theory in situations of uncertainty
Syllabus	1 - Public intervention in a market economy 2 - Competition and antitrust policy 3 - Economic regulation 4 - Natural monopoly regulation 5 - Utilities pricing 6- Uncertainty and information
Main Bibliography	Belleflamme, P., Peitz, M. (2010) Industrial Organization: Markets and Strategies. Cambridge University. Bolton, P., Dewatripont, M. (2004), Contract Theory, MIT Press. Church, J. and Ware, R. (2000), Industrial Organization: a strategic approach, McGraw-Hill Laffont, J-J, Martimort, D. (2001). The Theory of Incentives: The Principal-Agent Model, Princeton University Press. Lesser, J. A. and Giacchino, L. R. (2019). “Fundamentals of Energy Regulation”, Third Edition, PUR Incorporated. Motta, M. (2004). Competition Policy: theory and practice, Cambridge University Press. Newberry, D. (2002). Privatization, Restructuring and Regulation of Network Utilities, MIT Press. Tirole, J. 1988. The Theory of Industrial Organization, Cambridge, Mass.: MIT Press. Melitz, M. and Varian, H. R. (2024). Intermediate Microeconomics: A Modern Approach, 10th Ed, W. W. Norton & Company Viscusi, W. K., Vernon, J. and Harrington, J. (2018). “Economics of Regulation and Antitrust”, 5th ed., MIT Press.
Teaching Methodologies and Assessment Criteria	The teaching method is face-to-face, consisting both of theoretical and practical classes, as well as on tutorials classes. The bibliography supports each one of the issues of the syllabus. The teacher proposes exercises to solve and case studies to discuss. Alongside the technical analysis of the issues, the debate about alternative regulatory policies is pursued. With close monitoring, the student performs, discloses, and discusses a research paper. Learning activities include regular office hours, by appointment and by email.
Language	Portuguese. Tutorial support is available in English.