Industrial Policy - Introduction
Industrial policy is a very large area of economics involving theoretical, empirical and legal matters.
Our focus here will be on the economic rational behind industrial policy related to industry structure. We will examine types of economic efficiency and how various industrial structures and pricing mechanisms fare with respect to these efficiency outcomes. We will briefly consider some basics of U.S. anti-trust law and how it has been interpreted and enforced. Finally we will look at some issues in the regulation of natural monopoly.
Other forms of regulation include environmental regulation, product safety, and consumer protection. These issues will be dealt with in the externalities and public economics sections respectively.
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