Foundations of Regulation: Market and Government Failure

Why do some markets fail to deliver fair or efficient outcomes, and why do well-intentioned government regulations sometimes make things worse? Understanding the delicate balance between free markets and state intervention is essential for anyone interested in public policy, economics, or development planning. This text-only course guides you through the foundational economic theories of market and government failure, giving you the analytical tools to evaluate regulatory policies, identify inefficiencies, and understand the modern challenges of economic planning. What you'll learn: - Understand key economic concepts of public goods, externalities, and asymmetric information. - Analyze how monopolies and market power distort economic efficiency. - Evaluate the tools of government intervention, including taxes, subsidies, and price controls. - Identify the causes of government failure, from rent-seeking to regulatory capture. - Examine modern regulatory challenges, including environmental policies and digital platform governance. - Apply theoretical frameworks to real-world international development and planning scenarios. You will begin by exploring fundamental definitions and classic economic theories before progressing to complex regulatory designs and real-world policy trade-offs. Through structured readings and written analysis exercises, you will learn to think critically about policy design. Designed entirely for beginners, this course requires no prior background in economics, mathematics, or public policy. Start reading today to build a strong foundation in regulatory theory and public policy analysis.