Monash University Handbook 2010 Postgraduate - Unit

Synopsis

This unit provides an introduction to the range of instruments which can be used by regulators to obtain compliance. While it mixes theory and practice, it is oriented towards the practical application of regulatory methods and examines their strengths and weaknesses, the empirical evidence as to their effectiveness and the dangers in their use. Topics include:

• Regulation and regulatory design
• State regulation vs social regulation
• Taxonomies of regulatory methods
• Input vs output-based regulation
• Rewards and incentives
• Choosing the best methods
• Ordering methods
• Regulatory impact statements
• Trust, technology and information
• Economic, market and private regulation

Objectives

On completion of this unit, students will be able to:

• understand the concept of regulatory design;
• understand the taxonomies of regulation;
• understand the major techniques of regulation and the tools available to implement them;
• develop competence to critically identify the strengths and weaknesses of the regulatory techniques identified;
• understand the main values against which regulatory methods and processes might or should be addressed; and
• understand why and how regulatory methods fail.

Assessment

Written essay (1,500 words): 20% Written essay (6,000 words): 80%

Chief examiner(s)

Professor Arie Freiberg

Contact hours

24 contact hours per semester (either intensive, semi-intensive or semester long, depending on the Faculty resources, timetabling and requirements)