PROF. Alden F. Abbott

202-482-1328 (office)

703-506-0020 (home)

This class will examine regulation of industry, employing insights from law and economics and public choice. The text is Regulation and Deregulation (Cases and Materials) by Harrison, Morgan, and Verkuil ("R&D"), supplemented by photocopied materials ("PM") (available from the copy center). Your grade will be based on an in-class exam on May 1 (6:00 p.m., Room 224). You may only bring the text book, photocopied materials ("PM"), and your own notes to the exam. (I reserve the right to give a one-half grade bonus (e.g., from B to B+ or from A- to A) for outstanding class participation.) Assigned readings by class session are set forth below (page numbers refer to the R&D text).

January 13 1-44 (The Context of Regulation and Deregulation)

January 20 45-67 (Constitutional Limits on Regulation)

January 27 67-94 (Constitutional Limits Cont.)

February 3 94-122 (Constitutional Limits Cont.)

February 10 123-47 (Natural Monopoly/Gas and Electricity) plus PM Set 1

February 17 147-64, 492-93, 525 (Qs 6-7) (Telecom Deregulation) plus PM Set 2

February 24 165-91 (Excessive Competition Rationale) plus PM Set 3

March 2 191-219 (Transaction Costs)

March 16 219-40 (Inherently Scarce Resources) plus PM Set 4

March 23 240-59 (Scarce Resources Cont.)

March 30 260-315 (Cost/Benefit Analysis)

April 6 315-342 (Exchangeable Property Rights); 342-352 (Self-Regulation)

April 13 353-362, 450-493 (Rate Regulation)

April 20 Finish Rate Regulation, plus probable guest lecture on restructuring of the electric utility industry