Law and Economics of Market Regulation: Sectoral Approaches

FaculteitFaculty of Law, Economics and Governance

NiveauMaster

Studiejaar2026-2027

Beschrijving

Course goals

After this course:

The students are able to apply law & economic theories to current regulatory problems pertinent to the sectors within the scope of this course , such as digital markets regulation (AI Act, DMA), capital markets regulation and utility regulation [achieved through weekly lectures and seminars];
The students are able to critically assess different regulatory solutions implemented in the regulated sectors within the scope of this course by, among others, identifying relevant trade-offs between them [achieved through research presentation].
The students are able to advise relevant stakeholders on the implications of particular principles, institutions, or forms of regulation as applied to any of the sectors within the scope of this course [achieved through a debriefing session for the presentation, peer feedback and self-reflection report on the same

Content

While the first part of the Regulation course (period 1) focused on principles, general theories and some applications, the second part of the Regulation course focuses on an advanced study of concrete sectoral approaches to regulation. In particular, we examine in greater depth the legal and economic analysis of the regulation of network (utility) sectors, as well as digital and capital markets regulation. In the case of the network sectors, the regulation should ensure efficient outcomes and it plays a more prominent role in these sectors and markets than in other sectors of the economy. Network industries are often dominated by one or very few sellers with a high market power (such as natural monopolies or oligopolies), which brings the need for regulation.
Since there are various alternatives to regulation, several questions arise. What are the alternatives available to regulation, and how can we account for legal regulation as the chosen form of governance? What do economic theories suggest on the principles of optimal regulation of decisions on pricing, investments, quantities, or quality in the fields of energy, telecom or digital and capital markets, and what are the legal forms we find in practice? What is the regulatory meaning of economic concepts such as marginal, incremental, average cost pricing and Ramsey pricing, and what legal counterparts do we actually find in the abovementioned specific sectors? These are a few of the questions we will seek answers to in the current course.

Place of the course within the curriculum:

Elective course in the master Law and Economics - students choose between the course Competition II (RGMUIER049) and Regulation II (RGMUIER050) within the programme.

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