ECONOMICS OF REGULATION OF BUSINESS

SHE Level 3
SCQF Credit Points 20.00
ECTS Credit Points 10.00
Module Code M3L122528
Module Leader Margaret-Anne Houston
School Glasgow School for Business and Society
Subject Economics
Trimester
  • B (January start)

Summary of Content

This module will provide students with an understanding of the origins and rationale for the legislative and policy framework within which business, government and consumers operate. It will explore the regulator/consumer/producer/government relationship whilst developing an appreciation of the role of international governments with regard to regulatory frameworks taking into account such issues as consumer protection and competition policy. Summary of how PRME-related issues / topics are covered in this module: Students will be encouraged to identify, discuss and investigate contemporary international economic regulatory topics which directly address issues which confront public and private sector organisations and how such dilemmas, for example, effective governance and appropriate regulatory frameworks, can be resolved.

Syllabus

-360 1. Origins and rationale for the regulatory, legislative and policy framework within which business, government and consumers operate. -360 2. Critical discussion of the main players within regulatory policy, frameworks and enforcement services - including government agencies, consumer organisations, lobbyists, trade associations. 3. Regulatory strategies for overcoming market failure. 4. Discussion of 'good' regulation; regulatory failure, risks and de-regulation. 5. Purpose and regulatory roles of government and relevant bodies: e.g. UK Competition and Markets Authority, UK Food Standards Agency, EU Competition Commission, USA Federal Trade Commission, USA Food & Drug Administration. 6. Origins of and current development of business regulation and consumer economic issues - international, EU and domestic. E.g. utility markets, social media, internet regulation.

Learning Outcomes

On successful completion of this module, the student should be able to:Knowledge based:1) Explain and understand the historical & economic development of regulatory frameworks2) Examine the philosophical and international political context of business regulation and consumer economics.Skills based: 3) Evaluate the regulator/consumer/producer/government relationship with respect to effective regulatory systems, consumer detriment, enforcement and business compliance issues.4) Synthesise business regulation and consumer economics issues within the International marketplace with issues of effective business regulation.

Teaching / Learning Strategy

The module is delivered through a combination of lectures, student led seminars and direct learning activities. Students are expected to have active participation in lectures (i.e. asking relevant questions) with full engagement and commitment to learning in all lectures and seminars. Lectures and seminars are underpinned by independent learning and directed study with supportive documentation being disseminated to students electronically via GCU Learn. The emphasis is on a multi-disciplinary analysis of international issues related to business regulation and consumer economics. Formative assessments will be conducted through GCU Learn including discussion boards and submission of annotated bibliographies prior to starting the written assessment. Students will receive written feedback on their essays with an opportunity to discuss their work prior to the final examination. GSBS will continue to use the advancement of GCU Learn as a blended learning tool through its teaching and learning as well as through engagement with students. GSBS will ensure that all modules are GCU Learn enabled and with the support of the Learning Technologists at the cutting edge of development of online materials. Academic staff and the Learning Technologists will continue to work together to develop and operate all modules on GCULearn to ensure student support and information sharing. Students are provided with formative and summative feedback via a variety of mechanisms. Feedback on coursework is provided within 3 working weeks of submission. As university for the common good, equality and diversity principles are core GCU values. Equality, diversity and inclusivity is embedded in this module through the creation of learning, teaching and assessment strategies that promote equality of opportunity, eliminate discrimination and harness the benefits of functional and demographic diversity. Engaging students of different class, race and ethnic backgrounds, gender identity, sexual orientation and beliefs is ensured in this module in the following ways; b7 A curriculum that is accessible and meaningful to all by actively valuing diversity and encouraging students to draw on their own experiences in relation to the module content; b7 Conscious use of language and module content that is free from stereotyping, sexism, racism, homophobia, transphobia and discrimination based on systems of belief b7 Recognition and awareness of perceived power imbalances within the student cohort (e.g. gender, race, class and intersecting identities). This is dependent on identifying the characteristics of the student cohort before the module commences.

Indicative Reading

-567 Books: Essential Text: Baldwin, R.; Cave, M. & Lodge, M. (2012) Understanding Regulation. 2 nd Ed. Oxford University Press: UK Supplementary: Braithwaite, J. & Drahos, P. (2000) Global Business Regulation. Cambridge University Press: UK Cranston, R. (2000) Consumers and the Law. 3 rd Ed. Weidenfeld & Nicolson: UK Davies, H. & Green, D. (2008) Global Financial Regulation. Polity: UK Hopkins, D., Kontnik, L.T. & Tunage, M. (2003) Counterfeiting Exposed: Protecting your brand and customers. John Wiley and Sons Inc.: UK Lunt, P. (2012) Media regulation: governance and the interest of citizens and consumers. Sage: UK McCartney, S. (2005) The Fake Factor. Why we love brands but buy fakes. Marshall Cavendish Business: London Middleton, K.; Rodger, B.J. & MacCulloch, A. (2003) UK & EC Competition Law: Cases & Materials. Oxford University Press: UK. Nijsen, A.; Hudson, J.; Mfcller, C.; Paridon, K. van; Thurik, R. (Eds.) (2009) Business regulation and public policy: the costs and benefits of compliance. Springer: UK. (E-BOOK) Ogus, A.I. (2004) Regulation: legal form and economic theory. Hart Publishing: UK Parker, C. & Nielsen, VL. (Eds) (2011) Explaining Regulatory Compliance: Business Responses to Regulation. Edward Elgar Publishing Ltd: UK Phillips, T. (2007) Knockoff: the deadly trade in counterfeit goods: the true story of the world's fastest growing crime wave. Kogan Page: UK Prosser, T. (2010) The regulatory enterprise: government, regulation, and legitimacy. Oxford University Press: UK (E-BOOK) Ramsay, I. (2012) Consumer Law and Policy: Text and materials on Regulating Consumer Markets. 3 rd Ed. Hart Publishing: UK Rickett, C. & Telfer, T. (2003) International Perspectives on Consumers' Access to Justice. Cambridge Press: UK Rogers, K.M. (2011) The Internet and the Law. Palgrave MacMillan: UK Steiner, G. & Steiner, J. (2011) Business, Government and Society. 13 th Ed. Irwin McGraw-Hill: UK. Recommended Journals British Food Journal; Edinburgh Law Review; Harvard Business Review; Harvard Law Review; International Journal of Consumer Studies; Journal of Business Research; Journal of Consumer Affairs; Journal of Consumer Policy; Journal of Financial Crime; Journal of Financial Regulation & Compliance; Journal of Retailing; Journal of Scottish Affairs; Law and Policy; New Law Journal Online sources: Various websites from international government agencies and regulatory bodies.

Transferrable Skills

By the end of this module students will have gained competence in the following key areas: b7 Analytical and critical thinking skills b7 Communication skills (oral and written) b7 Discussion skills b7 Essay writing b7 Problem solving skills b7 Interpersonal skills b7 Time management skills

Module Structure

Activity Total Hours
Lectures (FT) 24.00
Independent Learning (FT) 125.00
Assessment (FT) 40.00
Seminars (FT) 11.00

Assessment Methods

Component Duration Weighting Threshold Description
Exam 01 2.00 50.00 35% Individual unseen exam 2 hours
Course Work 01 n/a 50.00 35% Individual Essay 2000 words