Marketplace Economics: Alternatives to Regulation
Spring 2014 • LAW 610 • Credits: 2
Instructor: Nancy Shurtz
Introduction to important economic concepts (such as externalities, market failure, and efficiency) and exploration of how market mechanisms (marketable permits, environmental taxes, tax incentives, refund-deposits, information, partnership agreements, and mediation) can be used to supplement environmental regulations in the goal of promoting a sustainable future. Students will read excerpts from the major books and law reviews in the field as well as study illustrative case studies in the use of each market mechanism. Students will also be exposed to a wide range of perspectives: regulatory, industry, trade association, consumer, journalist, and academic, and analyze each market mechanism based on equity, efficacy, efficiency, and administrability.