Authorised by Academic Registrar, April 1996
Objectives On completion of this subject students should understand and be able to analyse critically the economic reasons for government intervention to reduce the adverse effects of restrictive trade practices; have an understanding of the Australian Competition Commission (and its predecessor, the Trade Practices Commission) and be able to evaluate recent decisions from the perspectives of an economist, lawyer, policy-maker and business manager.
Synopsis What do we mean by `competition', by `misuse of market power?' What kinds of public benefits might be associated with such practices as merger, collusive agreements, exclusive dealing? These are some of the economic issues discussed in this seminar. The focus of the seminar is upon the operation of the Trade Practices Act but the issues selected for discussion are those posed by most systems of legislative control of monopolies and restrictive practices. The seminar discusses the legislation from the viewpoints of policy-maker, lawyer and management.