MGF5710 - Governance of market societies - 2017

6 points, SCA Band 1, 0.125 EFTSL

Postgraduate - Unit

Refer to the specific census and withdrawal dates for the semester(s) in which this unit is offered.


Business and Economics

Organisational Unit

Department of Management


Professor Christopher Nyland

Unit guides



  • First semester 2017 (Day)
  • First semester 2017 (Off-campus)


In the contemporary world the political and economic leaders of capitalist and socialist societies have come to accept that effective governance requires both markets and regulation. But while this consensus exists there is substantial disagreement as regards what constitutes the optimal mix of markets and regulation. In this subject we introduce students to both the system of regulatory capitalism that prevails in the OECD and to the regulatory socialist form of governance that is being created in China. In so doing we explain why the concurrent existence of these two systems of governance have become a source of global tension.


The learning goals associated with this unit are to:

  1. provide students with a sound grasp of why the governance of contemporary societies requires robust markets and regulations
  2. enable students to understand how regulatory capitalism and regulatory socialism work and why there are similarities and differences
  3. assist students to grasp prevailing ideas for making the two systems work better
  4. provide understanding of why it is that the concurrent existence of different systems of governance is a source of tension across states.


Within semester assessment: 60% + Examination: 40%

Workload requirements

Minimum total expected workload to achieve the learning outcomes for this unit is 144 hours per semester typically comprising a mixture of scheduled learning activities and independent study. Independent study may include associated readings, assessment and preparation for scheduled activities. The unit requires on average three/four hours of scheduled activities per week. Scheduled activities may include a combination of teacher directed learning, peer directed learning and online engagement.

See also Unit timetable information

Chief examiner(s)