The course will cover the basic principles of market regulation, from market failures to the main approaches for regulating different type of prices. quality and investments. Moreover, it will focus on energy markets and their special needs in term of regulation. Theoretical models and case studies will be analyzed in order to improve the comprehension of regulated markets, with a focus on enrgy markets. In particular, solid evidence and multiple anecdotes will be delivered in order show the concrete relevance of theoretical developements and to facilitate the understanding of reality. The relevance of the institutional capacity of the authorities for the optimal design of regulation will also be analyzed, together with policy implications of different regulation approaches.
The course covers the basic principles of market regulation, from market failures to the main approaches for regulating different type of prices, with a particular focus on energy markets and their special needs in term of regulation. In the first part of the course the issue of the different rationales for regulation are discussed, including the conventional rationale based on the definition of natural monopoly and the need for addressing allocative and productive efficiency; moreover, alternative ways to control or influence firms’ behavior are analyzed, like competition for the market, contestability, state ownership, reliance on competition law and negotiated agreements.
Knowledge of a undergraduate microeconomics course.
Lectures and seminars of field experts, videos and frorntal lessons.
Students who have valid certification of physical or learning disabilities and who wish to discuss possible accommodations or other circumstances regarding lectures, coursework and exams, should speak both with the instructor and with Professor Elena Lagomarsino elena.lagomarsino@unige.it, the Department's disability liaison.
Ricevimento: Student office hours on Wednesday at 14:30, by appointment via email. Modality (in-person/online) to be agreed with the instructor.
second semester
Home assigments and written examination,
