TYPE OF COURSE UNIT	Elective Course
LEVEL OF COURSE UNIT	Bachelor's Degree
YEAR OF STUDY	-
SEMESTER	-
NUMBER OF ECTS CREDITS ALLOCATED	5
NAME OF LECTURER(S)	. Servıs Servıs Instructor Ali Arıöz
LEARNING OUTCOMES OF THE COURSE UNIT	At the end of this course, the students; 1) The causes of deviations from market efficiency (market failures) 2) The reasons and methods of regulation of selected industries.
MODE OF DELIVERY	Face to face
PRE-REQUISITES OF THE COURSE	No
RECOMMENDED OPTIONAL PROGRAMME COMPONENT	None
COURSE DEFINITION	The main objective of this course is to introduce the role of government in markets where benefits of competitive markets i.e. equilibria can not be achieved. The course emphasizes the importance of market structure and industrial performance. Besides presenting the main issues of antitrust policy, the characteristics of specific industries and the role of the government regulation in these industries are also covered in detail.
COURSE CONTENTS	WEEK TOPICS 1st Week Introduction 2nd Week Market Efficiency and Failures 3rd Week Natural Monopoly and Regulation 4th Week Alternatives to Regulation 5th Week Critical Theories of Regulation 6th Week Public Choice and Austrian Approaces 7th Week Basics of Competition (Antitrust) Law and the Competition Law-Regulation Relationship 8th Week Midterm Exam 9th Week Regulation of the Electricity Industry 10th Week Regulation of the Electricity Industry 11th Week Regulation of the Telecommunications Industry 12th Week Regulation of the Telecommunications Industry 13th Week Regulation of Financial Markets 14th Week Regulation of Digital Markets/Platforms
RECOMENDED OR REQUIRED READING	W. Kip Viscusi (2005), John M. Vernon and Joseph E. Harrigton, Jr., Economics of Regulation and Antitrust. Cambridge; MASS: The MIT Press R. Posner (1974), "Economic Theories of Regulation", Bell Journal of Economics and Management Science. E. Butler (2012), "Public Choice: A Premier", IEA Publications U. Zenginobuz ve S. Uğur (2001) ,"Türkiye Elektrik Sektöründe Yeniden Yapılanma Özelleştirme ve Regülasyon", içinde TESEV, Devletin Düzenleyici Rolü. İstanbul. P. Joskow (1997), "Restructuring, Competition and Regulatory Reform in the US. Electricity Sector", Journal of Economic Perspectives, Vol. 11, No.3, 119-138. K. Yılmaz (2001), "Türk Telekomünikasyon Sektöründe reform", içinde, TESEV, Devletin Düzenleyici Rolü. İstanbul. OECD (2003), Competition and Regulation Issues in Telecommunications, OECD Journal of Competition Law and Policy Volume 5, No. 3 J. Stiglitz and J. Rosengrad, (2015), ?Economics of the Public Sector?, W. W. Norton & Company Shleifer, A. (2005), Understanding Regulation, European Financial Management, Vol. 11, No. 4, 2005, 439?451 D. S. Evans and R. Schmalensee (2008), Markets with Two-Sided Platforms, Issues in Competition Law and Policy 667 667 (ABA Section of Antitrust Law 2008)
PLANNED LEARNING ACTIVITIES AND TEACHING METHODS	Lecture,Discussion
ASSESSMENT METHODS AND CRITERIA	Quantity Percentage(%) Mid-term 1 40 Quiz 1 10 Total(%) 50 Contribution of In-term Studies to Overall Grade(%) 50 Contribution of Final Examination to Overall Grade(%) 50 Total(%) 100
ECTS WORKLOAD	Activities Number Hours Workload Midterm exam 1 1 1 Preparation for Quiz 1 9 9 Individual or group work 14 3 42 Preparation for Final exam 1 30 30 Course hours 14 3 42 Preparation for Midterm exam 1 25 25 Laboratory (including preparation) 0 0 0 Final exam 1 1 1 Homework 0 0 0 Total Workload 150 Total Workload / 30 5 ECTS Credits of the Course 5
LANGUAGE OF INSTRUCTION	English
WORK PLACEMENT(S)	No