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GEST-S567

Regulation and Antitrust economics for businesses

année académique
2024-2025
2025-2026

Titulaire(s) du cours

Luis CORREIA DA SILVA (Coordonnateur)

Crédits ECTS

5

Langue(s) d'enseignement

anglais

Contenu du cours

  • When to regulate

  • Market definition

  • Assessing market power

  • Models of regulation

  • Cost of capital

  • Vertical and horizontal agreements

  • Abuse of dominance

  • State aid

  • Mergers and acquisitions

  • Finance & Valuation concepts

  • Regulation in the financial services sector

Objectifs (et/ou acquis d'apprentissages spécifiques)

This course is designed to present the main insights that economic reasoning can provide in analysing regulatory and antitrust issues. It will be articulated around three questions, which we will approach from both a theoretical and an applied perspective:

  • What is a market?

  • What are the benefits of competition?

  • How can we ensure that markets operate efficiently?

We will cover the basic economic principles in regulation (when does a market operate in a satisfactory way? Why regulate and when? What to regulate? How to regulate?) and antitrust matters (when are markets deemed competitive? When do mergers lessen or increase competition in a market? When is a firm’s behaviour deemed ‘anti-competitive’?). We will also examine the main economic tools that are commonly used in the legal treatment of regulation and antitrust. We will primarily focus on the tools’ relevance and practical applications, in order to equip managers with a broad set of experiences where corporate goals are at risk or can be enhanced through good planning in this area.

Méthodes d'enseignement et activités d'apprentissages

The course will consist of:

  • 12 interactive lectures;

  • at-home assignments;

  • role-playing case study.

Students will be expected to attend the lectures and participate in the debates, read the related material in advance of the classes and take part in case studies. The workload is intended to be manageable.

Références, bibliographie et lectures recommandées

To be provided

Contribution au profil d'enseignement

In the European Union, and around the world, businesses operate in a legal and regulatory environment that affects their current operations and future decisions. This framework relies on two principles:

  • antitrust should be a deterrent: if businesses behave in a way that is detrimental to competition, and to consumers’ welfare, they will be punished.

  • regulation might be required: in markets where competition cannot arise, rules must be introduced to improve market outcomes such as price levels, quality provision, and R&D spending;

For businesses, market interventions (regulation and antitrust) may present significant risks and costs; alternatively, they can also create opportunities by enabling firms to compete on a level playing field. In such a context, understanding the economics supporting the legal and regulatory framework becomes essential for future managers in any sector of the economy.

Autres renseignements

Contacts

solvay@oxera.com

Evaluation

Méthode(s) d'évaluation

  • Autre

Autre

Students will be assessed based on a single 2h final exam (90% of the grade) and on the written assignments (10% of the grade).

Langue(s) d'évaluation

  • anglais

Programmes