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UTD - School of Management BA 4309 - Business Regulation Fall, 2005/SM 1.

212 - Thursdays 7:00 - 10:00 PM

Dr. Robert Formaini Office: (By apt. only) (214) 922-5343 bob.formaini@dal.frb.org

Textbook - Required: Viscusi, Kip, John Vernon and Joseph Harrington. (2000) Economics of Regulation and Antitrust , 3rd ed. (MIT Press). Recommended (but not directly tested) supplemental reading: Armentano, Dominick. 1990. Antitrust and Monopoly (Oakland, CA: Independent Institute) Anderson, Terry and D. Leal. 1991. Free Market Environmentalism (SF: Pacific Research) Brock, Walter and James Adams. 1991. Antitrust on Trial (Princeton, NJ: University Press) Howard, Phillips K. 1996. The Death of Common Sense (NY: Warner Books) Lomberg, Bjorn. 2004. The Skeptical Environmentalist. (NY: Cambridge Univ. Press) Liebowitz, Stan and Steven Margolis. 2000. Winners, Losers, and Microsoft (Oakland, CA: The Independent Institute). MacKenzie, Richard. 2000. Trust on Trial (NY: Perseus Press) Miller, Roger LeRoy et al. 2003. The Economics of Public Issues (Boston: Addison Wesley) Yandle, Bruce.1997. Common Sense and Common Law for the Environment: Creating Wealth in Hummingbird Economies (Rowman and Littlefield) Grade The student's overall grade will be comprised of four quiz grades, each quiz weighted equally at 25% of the final grade. There will be NO EXTRA CREDIT WORK ASSIGNED FOR ANY REASON and there is no homework assigned, or due, beyond reading the text ahead of time and being prepared for class discussions. Do NOT ask for extra credit! Class discussions will focus around two things: (1) the textbook, and (2) general interest regulation topics that are topical. Students are encouraged to participate in these discussions and to bring in supporting materials for their viewpoint or to suggest lines of classroom discussion. Students can also suggest topics for discussion that might nor be on the syllabus. The professor reserves the right to decide whether such suggestions will be discussed. *** (See below) August: 18 25 September: 1 8 15 Chapters 4, 5 and 6 Chapters 7, 8, and 9 QUIZ #1 General introduction to the class Chapters 1, 2 and 3 Tentative Schedule

22 29

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Chapters 10 and 11 Chapters 12 and 13

Government Regulation Syllabus Fall semester, 2005 UTD - Dr. Formaini October: 6 13 20 27 November: 3 10 17 24 December: 1 8 Chapters 23 and 24 QUIZ #4 CAREFULLY Chapters 20 and 21 QUIZ #3 Chapter 22 Thanksgiving Holiday Chapters 14 and 15 QUIZ #2 Chapters 16 and 17 Chapters 18 and 19

NOTE THE FOLLOWING VERY ******************************************************* ************************************** ************************************************

Miscellaneous:

The instructor reserves the right to CHANGE this class schedule if he sees fit to do so. Students are advised that good attendance is the ONLY WAY to know if the schedule is being followed as written. DO NOT RELY EXCLUSIVELY ON THIS SYLLABUS FOR QUIZ DATES (exception: final quiz) ! It is vital that students read the text carefully. This is not necessarily the most riveting material to read, and some of it is very detail-oriented, as will be the test questions based on that material. Although everything assigned in the text might be on a quiz, those items highlighted in lectures - whether in the text or not - are the primary source for quiz questions. (Anything explicitly deleted by professor from text will not be tested on.)

One way that classes can be more interesting is to look ahead at current regulation topics that are attached to the dates on the class syllabus and to prepare materials for the class discussion that week. Be prepared to be challenged, but never be afraid to make an argument or express an opinion. This course has been designed as a two-way discussion, not a one-way lecture of material and personal opinion from the instructor to you. Please participate! Additional Readings of Interest Stigler, George Government Regulation Syllabus Fall semester, 2005 UTD - Dr. Formaini Kahn, Alfred Coase, Ronald Goodman, John C. Viscusi, W. Kip Epstein, Richard A. The Citizen and the State: Essays on Regulation

The Economics of Regulation AThe Problem of Social Cost@ Journal of Law and Economics (1960) The Economics of Public Policy: The Micro View Risk By Choice: Regulation, Safety and Health in the Workplace and Rational Risk Policy Principles for A Free Society: Reconciling Individual Liberty With the Public Good

Withdrawals: Students alone are responsible for withdrawing from class correctly through the Registrar's office. Students on the roll at the end of the semester will receive a grade regardless of whether they have attended class and/or taken all of the quizzes. That grade will be an (F) and it cannot be changed, so please do the appropriate paperwork should you decide to withdraw. Other Miscellaneous Comments: Please read ahead of the lectures so that you can participate in class discussions of the material. Please be on the lookout for stories from newspapers, magazines etc; on regulation/policy/antitrust issues that you think might make profitable classroom discus-sion topics or support your own viewpoint(s). Please be on time for class and do not leave class early. If you can’t be in class the whole time, then stay home. A 7:00 PM starting time is late enough so that you can make the class from home or work all of the time as long as you do it. If not, perhaps you should consider taking the course at another time? If the instructor is not present at class time, please wait 45 minutes. If he still is not present, you may leave. Simply return the

following week to be informed of what happened the previous week and how the syllabus schedule is affected by the missed class etc; Please do not socialize during class, and turn off all pagers and/or cell phones before class begins. If you are interested in the professor=s background etc; go to Awww.dallasfed.org @ and search (upper right corner) his last name. Or, click on “ Economic Research,” then on “Economists,” and then on his name. This will produce his bio while the search will produce many of his recent articles. Or just “google” his name.

Best of luck to you this semester!