syllabus - Economics 570: Government and Business MW, 1:30...

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Economics 570: Government and Business MW, 1:30 – 3:18, Scott Lab 54 Spring 2008 Instructor: Matt Lewis Office: 419 Arps Office Phone: 292-0480 E-mail: Course Website: Office Hours: W 3:30-4:00, F 11:00-11:30, or by appointment Course Overview: In the economist’s model of perfect competition, market forces (supply and demand) ensure a socially efficient outcome, meaning that the “optimal” amount of goods are produced and consumed. However, in reality, perfect competition is the exception rather than the norm. As a result, free functioning markets will not always produce the best outcome. A subfield of economics called “Industrial Organization” studies the ways in which markets are “imperfectly” competitive and how this affects the prices and quantities of goods produced and consumed. This course will introduce the basic concepts of industrial organization and discuss how government regulation and antitrust policy attempt to help create a more socially desirable outcome when markets fail to do so. To help understand the important economic issues that arise with imperfect competition we will frequently discuss current policy debates as well as the recent history of U.S. regulation and antitrust policy. Prerequisites: The prerequisites for this course are Econ 200, Principles of Microeconomics. You should have an interest in how government regulates business and how businesses interact strategically with each other (and regulators). You also must be willing to come to class regularly and be prepared and motivated to participate in class discussions as this will affect your grade in the course. Required Text:
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This note was uploaded on 07/17/2008 for the course ECON 570 taught by Professor Lewis during the Spring '08 term at Ohio State.

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syllabus - Economics 570: Government and Business MW, 1:30...

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