Government Regulation of Business
Prof. Trajko Slaveski, Ph.D.
|Course objectives (competences):|
After completion of this course the students should be enabled to:
This course covers the areas of industrial organization, competition policy, and regulation.
Industrial organization covers the plethora of economic factors that determine the market structure (number and size of companies), and their conduct (competitive strategies).
Industries where competition is feasible, but it has been hampered for various reasons (misuse of dominant position, vertical restraints of trade, collusion etc.) are subject to competition policies implemented by special government agencies.
Those industries where competition is absent, or impractical from the social point of view (for example, natural monopolies) are subject to regulation. In addition to economic approach, the political economy approach is also being used , whereby particular focus is concentrated upon certain phenomena in functioning of institutions and government agencies.