REGULATION AND COMPETITION POLICIES
Syllabus
EN
IT
Learning Objectives
LEARNING OUTCOMES: This course equips students with the tools to understand and analyze the functioning of different market structures. It introduces the rationale behind public interventions in markets, focusing first on regulation, with applications to digital markets, and then on competition policy, illustrated through real case studies.
KNOWLEDGE AND UNDERSTANDING: By the end of the course, students will acquire both theoretical and methodological tools to enhance their understanding of economic phenomena in different market structures. Key topics include:
- Market functioning under monopoly and imperfect competition;
- Regulation of digital markets;
- Competition policy and enforcement mechanisms.
APPLYING KNOWLEDGE AND UNDERSTANDING: Students will apply their knowledge by solving exercises, engaging in case-study analyses, and actively participating in class discussions. Through these activities, they will develop the ability to critically assess regulatory frameworks and competition policies.
MAKING JUDGEMENTS: Upon completion of the course, students will be able to critically analyze key issues related to regulation and competition policies in markets characterized by imperfect competition. They will develop independent judgment and problem-solving skills to evaluate policy interventions in real-world scenarios.
COMMUNICATION SKILLS: Students will improve their ability to communicate complex economic concepts effectively. They will be encouraged to debate policy issues and engage in discussions, enhancing their capacity to convey arguments in a clear and structured manner.
LEARNING SKILLS: The course fosters independent learning by equipping students with research skills, critical thinking, and the ability to apply economic reasoning beyond the classroom. They will be prepared to deepen their knowledge in advanced studies or professional settings related to regulation and competition policy.
KNOWLEDGE AND UNDERSTANDING: By the end of the course, students will acquire both theoretical and methodological tools to enhance their understanding of economic phenomena in different market structures. Key topics include:
- Market functioning under monopoly and imperfect competition;
- Regulation of digital markets;
- Competition policy and enforcement mechanisms.
APPLYING KNOWLEDGE AND UNDERSTANDING: Students will apply their knowledge by solving exercises, engaging in case-study analyses, and actively participating in class discussions. Through these activities, they will develop the ability to critically assess regulatory frameworks and competition policies.
MAKING JUDGEMENTS: Upon completion of the course, students will be able to critically analyze key issues related to regulation and competition policies in markets characterized by imperfect competition. They will develop independent judgment and problem-solving skills to evaluate policy interventions in real-world scenarios.
COMMUNICATION SKILLS: Students will improve their ability to communicate complex economic concepts effectively. They will be encouraged to debate policy issues and engage in discussions, enhancing their capacity to convey arguments in a clear and structured manner.
LEARNING SKILLS: The course fosters independent learning by equipping students with research skills, critical thinking, and the ability to apply economic reasoning beyond the classroom. They will be prepared to deepen their knowledge in advanced studies or professional settings related to regulation and competition policy.
ANNA D'ANNUNZIO
Prerequisites
Basic knowledge of microeconomics and elementary algebra is required.
Program
Competition policies (Prof. Andrea Pezzoli)
• Origin and goals of Competition Law.
• Different types of markets: Differentiated markets, Contestable markets, Multi-sided markets.
• Actual and Potential Competition. Barriers to Entry and Barriers to Exit.
• Restrictive Agreements: Explicit an Implicit Collusion
• Horizontal Agreements, Cartels, Exchanges of Information, Hub and Spoke.
• Vertical Restraints.
• Abuse of Dominant Position. The assessment of Dominance. Exclusionary and Exploitative Abuses.
• Different types of Exclusionary Abuses: Predation, Tie-in, Margin Squeeze, Refusal to Deal and Access to Essential Facilities….
• Merger Control.
• Dynamic Efficiency, Long Term and Legal Certainty.
Regulation in digital markets (Prof. Anna D'Annunzio)
• Platforms and network effects
• Pricing in multi-sided markets
• Non pricing strategies
• Data and privacy
• General Data Protection Regulation
• Digital Market Act
• Digital Service Act
The syllabus is the same for all students, both attending and non-attending.
• Origin and goals of Competition Law.
• Different types of markets: Differentiated markets, Contestable markets, Multi-sided markets.
• Actual and Potential Competition. Barriers to Entry and Barriers to Exit.
• Restrictive Agreements: Explicit an Implicit Collusion
• Horizontal Agreements, Cartels, Exchanges of Information, Hub and Spoke.
• Vertical Restraints.
• Abuse of Dominant Position. The assessment of Dominance. Exclusionary and Exploitative Abuses.
• Different types of Exclusionary Abuses: Predation, Tie-in, Margin Squeeze, Refusal to Deal and Access to Essential Facilities….
• Merger Control.
• Dynamic Efficiency, Long Term and Legal Certainty.
Regulation in digital markets (Prof. Anna D'Annunzio)
• Platforms and network effects
• Pricing in multi-sided markets
• Non pricing strategies
• Data and privacy
• General Data Protection Regulation
• Digital Market Act
• Digital Service Act
The syllabus is the same for all students, both attending and non-attending.
Books
"Industrial Organization”, Paul Belleflamme and Martin Peitz, Cambridge (optional)
"Economics for Competition Lawyers", Niels, G., Jenkins, H.,Kavanagh, J.,Third Edition, Oxford University Press
"Economics for Competition Lawyers", Niels, G., Jenkins, H.,Kavanagh, J.,Third Edition, Oxford University Press
Bibliography
"Digital Services Act", Regulation 2022/2065 of the European Parliament and the Council
"Digital Markets Act", Regulation 2022/1925 of the European Parliament and the Council
"Competition policy –- Theory and Practice”, Massimo Motta, Cambridge
"Digital Markets Act", Regulation 2022/1925 of the European Parliament and the Council
"Competition policy –- Theory and Practice”, Massimo Motta, Cambridge
Teaching methods
The course includes lectures and interactive classes aimed at introducing and deepening the main theoretical concepts, in order to provide students with the foundational and advanced knowledge necessary to understand the economic and regulatory mechanisms covered in the course.
The theoretical presentation of each topic, supported by graphs, tables, presentations, and applied examples, is designed to develop students’ understanding of economic models and the relevant regulatory framework.
In-class exercises, based on problem-solving activities and applied examples, aim to consolidate acquired knowledge and to promote the application of theoretical models to real-world situations, thereby contributing to the development of students’ analytical and problem-solving skills.
Class discussions and interactive activities encourage active participation, stimulate critical thinking and independent judgment, and foster students’ ability to argue and communicate effectively using the appropriate technical language of the discipline.
The theoretical presentation of each topic, supported by graphs, tables, presentations, and applied examples, is designed to develop students’ understanding of economic models and the relevant regulatory framework.
In-class exercises, based on problem-solving activities and applied examples, aim to consolidate acquired knowledge and to promote the application of theoretical models to real-world situations, thereby contributing to the development of students’ analytical and problem-solving skills.
Class discussions and interactive activities encourage active participation, stimulate critical thinking and independent judgment, and foster students’ ability to argue and communicate effectively using the appropriate technical language of the discipline.
Exam Rules
A written test is planned to assess the level of knowledge of the subject. The oral test will be at the discretion of the instructor. The oral examination may be required at the discretion of the instructor based on the outcome of the written exam, particularly in the case of borderline results, in order to clarify specific aspects of the written assessment and to evaluate the student’s independent judgment and critical thinking skills.
The exam will be evaluated according to the following criteria:
Not suitable: Significant gaps and/or inaccuracies in the knowledge and understanding of the topics; limited analytical and synthesis skills, frequent generalizations, and limited critical and judgment skills; the topics are presented in a non-coherent manner and with inappropriate language.
18-20: Barely sufficient knowledge and understanding of the topics, with possible generalizations and imperfections; sufficient analytical, synthesis, and judgment skills; the topics are often presented in a somewhat inconsistent manner and with language that is not very appropriate/technical.
21-23: Routine knowledge and understanding of the topics; correct analytical and synthesis skills with sufficiently coherent logical reasoning and appropriate/technical language.
24-26: Good knowledge and understanding of the topics; good analytical and synthesis skills, with arguments expressed rigorously but with language that is not always appropriate/technical.
27-29: Comprehensive knowledge and understanding of the topics; notable analytical and synthesis skills; good judgment autonomy; topics are presented rigorously and with appropriate/technical language.
30-30L: Excellent level of knowledge and in-depth understanding of the topics; excellent analytical, synthesis, and judgment autonomy; arguments are expressed originally and with appropriate technical language.
Any student found using a device connected to the internet (phone, watch or any other device) during an exam will be barred from attending the remaining exams in the same exam period. In case the misconduct occurs during the last session of an exam period, the student will not be allowed to sit for the first session of the following exam period.
The exam will be evaluated according to the following criteria:
Not suitable: Significant gaps and/or inaccuracies in the knowledge and understanding of the topics; limited analytical and synthesis skills, frequent generalizations, and limited critical and judgment skills; the topics are presented in a non-coherent manner and with inappropriate language.
18-20: Barely sufficient knowledge and understanding of the topics, with possible generalizations and imperfections; sufficient analytical, synthesis, and judgment skills; the topics are often presented in a somewhat inconsistent manner and with language that is not very appropriate/technical.
21-23: Routine knowledge and understanding of the topics; correct analytical and synthesis skills with sufficiently coherent logical reasoning and appropriate/technical language.
24-26: Good knowledge and understanding of the topics; good analytical and synthesis skills, with arguments expressed rigorously but with language that is not always appropriate/technical.
27-29: Comprehensive knowledge and understanding of the topics; notable analytical and synthesis skills; good judgment autonomy; topics are presented rigorously and with appropriate/technical language.
30-30L: Excellent level of knowledge and in-depth understanding of the topics; excellent analytical, synthesis, and judgment autonomy; arguments are expressed originally and with appropriate technical language.
Any student found using a device connected to the internet (phone, watch or any other device) during an exam will be barred from attending the remaining exams in the same exam period. In case the misconduct occurs during the last session of an exam period, the student will not be allowed to sit for the first session of the following exam period.
Attendance Rules
Attendance is optional. The course is held in person.