New Online Course Catalogue will be available soon.
LAWCOMM 769 : Special Topic: Economic Regulation: Principles and Practice
Law
2020 Semester One (1203) (15 POINTS)
Course Overview
New Zealand, like other countries in recent decades, has varied in its approach to economic regulation. We have evolved from extensive regulation in the 1960s and 1970s, through deregulation in the 1980s and 1990s, to today’s selective reregulation. Behind the swings of the policy pendulum, what is the underlying basis for economic regulation? This course looks at the rationale for economic regulation, explores what makes for good regulatory practice, explores the range of regulatory tools available to tackle identified problems, and considers the potential downsides and risks of regulation. It explains how New Zealand’s regulatory workhorse, Part 4 of the Commerce Act 1986, operates and reviews legal challenges to it. It also explores the regulatory frameworks in the telecommunications sector (the Telecommunications Act 2001) and the dairy sector (Dairy Industry Restructuring Act 2001), and examines New Zealand’s first use of market studies (petrol industry). It considers whether regulation is desirable or necessary in highly dynamic industries with fast rates of technological innovations. It includes presentations from invited regulatory practitioners. It concludes by taking a stocktake of where there may be unfinished regulatory business – new problems requiring new regulatory approaches, and old regulation that may now be superfluous. The course is relevant to anyone advising businesses in regulated or about to be regulated industries, and lies at the fascinating interface between economics and law.
Capabilities Developed in this Course
| Capability 1: | Disciplinary Knowledge and Practice |
| Capability 2: | Critical Thinking |
| Capability 3: | Solution Seeking |
| Capability 4: | Communication and Engagement |
| Capability 5: | Independence and Integrity |
| Capability 6: | Social and Environmental Responsibilities |
Learning Outcomes
- Understand basic economic concepts of workable competitive markets and recognise where unregulated markets may not work well for the long term benefits of consumers (Capability 1.1, 2.1, 2.2, 3.1 and 6.2)
- Recognise the limitations of generic competition law in dealing with market ‘failure’. (Capability 1.1, 2.1, 2.2 and 3.2)
- Understand the rationales for and against economic regulation and when regulation might act as a complement to, or a substitute for, workably competitive markets (Capability 2.1, 2.2, 3.1 and 3.2)
- Appreciate the potential downsides and costs of regulation as well as the benefits. (Capability 2.1, 2.2, 3.1 and 3.2)
- Understand the intellectual background of pro-regulation, de-regulation and re-regulation policy evolution internationally and in New Zealand (Capability 2.1, 2.2, 2.3, 3.2 and 3.3)
- Recognise best practice in considering, implementing, and reviewing economic regulation • Demonstrate familiarity with key economic regulatory statutes in New Zealand (Part IV of the Commerce Act, Telecommunications Act, Dairy Industry Restructuring Act) (Capability 2.1, 2.2, 2.3, 3.1, 3.2 and 3.3)
- Understand the assumptions behind, and the operation of, the ‘building blocks’ model under Part IV of the Commerce Act (Capability 2.1, 2.2, 2.3, 3.1, 3.2 and 3.3)
- Demonstrate and understand how to apply awareness of outstanding regulatory and deregulatory policy issues and better engage with legal and economic regulatory experts (Capability 1.1, 2.1, 2.2, 2.3, 3.1, 3.2, 3.3, 4.1, 5.1 and 6.2)
Assessments
| Assessment Type | Percentage | Classification |
|---|---|---|
| Class participation | 10% | Individual Coursework |
| Research outline | 10% | Individual Coursework |
| Research essay | 80% | Individual Coursework |
| 3 types | 100% |
| Assessment Type | Learning Outcome Addressed | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | |||
| Class participation | ||||||||||
| Research outline | ||||||||||
| Research essay | ||||||||||
Learning Resources
Workload Expectations
There will be 18 contact hours in this course. As a postgraduate course, there is an expectation that you prepare well for each class. The nature of the substantive assessment involving independent research also requires a significant amount of work outside of class. As a general guide, you should expect a workload of six hours outside of the classroom for each hour spent in class. The guideline for the total workload for this course is 150 hours.
Digital Resources
Course materials are made available in a learning and collaboration tool called Canvas which also includes reading lists and lecture recordings (where available).
Please remember that the recording of any class on a personal device requires the permission of the instructor.
Academic Integrity
The University of Auckland will not tolerate cheating, or assisting others to cheat, and views cheating in coursework as a serious academic offence. The work that a student submits for grading must be the student's own work, reflecting their learning. Where work from other sources is used, it must be properly acknowledged and referenced. This requirement also applies to sources on the internet. A student's assessed work may be reviewed against online source material using computerised detection mechanisms.
Inclusive Learning
All students are asked to discuss any impairment related requirements privately, face to face and/or in written form with the course director, lecturer or tutor.
Student Disability Services also provides support for students with a wide range of impairments, both visible and invisible, to succeed and excel at the University. For more information and contact details, please visit the Student Disability Services’ website at http://disability.auckland.ac.nz
Special Circumstances
If your ability to complete assessed coursework is affected by illness or other personal circumstances outside of your control, contact a Student Academic and Support Adviser as soon as possible before the assessment is due.
If your personal circumstances significantly affect your performance, or preparation, for an exam or eligible written test, refer to the University’s aegrotat or compassionate consideration page: https://www.auckland.ac.nz/en/students/academic-information/exams-and-final-results/during-exams/aegrotat-and-compassionate-consideration.html.
This should be done as soon as possible and no later than seven days after the affected test or exam date.
Student Feedback
At the end of every semester students will be invited to give feedback on the course and teaching through a tool called SET or Qualtrics. The lecturers and course co-ordinators will consider all feedback and respond with summaries and actions.
Your feedback helps teachers to improve the course and its delivery for future students.
Class Representatives in each class can take feedback to the department and faculty staff-student consultative committees.
Student Charter and Responsibilities
The Student Charter assumes and acknowledges that students are active participants in the learning process and that they have responsibilities to the institution and the international community of scholars. The University expects that students will act at all times in a way that demonstrates respect for the rights of other students and staff so that the learning environment is both safe and productive. For further information visit Student Charter (https://www.auckland.ac.nz/en/students/forms-policies-and-guidelines/student-policies-and-guidelines/student-charter.html).
Disclaimer
Elements of this outline may be subject to change. The latest information about the course will be available for enrolled students in Canvas.
In this course you may be asked to submit your coursework assessments digitally. The University reserves the right to conduct scheduled tests and examinations for this course online or through the use of computers or other electronic devices. Where tests or examinations are conducted online remote invigilation arrangements may be used. The final decision on the completion mode for a test or examination, and remote invigilation arrangements where applicable, will be advised to students at least 10 days prior to the scheduled date of the assessment, or in the case of an examination when the examination timetable is published.