EC333 – Fall, 2025 Market Organization and Public Policy
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EC333 –Fall, 2025
Market Organization and Public Policy
Class Goals: This course studies government intervention into the market place in the context of antitrust policy in the United States. Business competition can lead to inefficient or unjust outcomes, and many important policy initiatives have been designed to solve these problems. We use the tools of microeconomics to study why these negative outcomes arise, what has been the effect of policy in the past and present, and how policy should develop in the future. We study the economics of antitrust as well as the legislative and judicial history of policy in practice. This integration of economic analysis and historical perspective requires students to exercise many different skills and the reward is a deeper understanding of all sides of these issues. Students leave the class with an up-to-date knowledge of the antitrust environment in the U.S., a deep understanding of the theory that drives these issues, and familiarity with recent important antitrust cases.
Learning Outcomes: This course satisfies several Hub requirements:
Historical Consciousness (HCO): This class traces the history of antitrust policy since 1890. Students are able to relate changes in antitrust policy to wider changes in US society. Students are exposed to primary source material in the form of Supreme Court opinions drawn from the entire history of antitrust jurisprudence.
Ethical Reasoning (ETR): Public policy towards large firms and market power is becoming an increasingly political topic. Students learn to participate in this important policy debate and consider the social responsibility of market participants beyond and in relation to antitrust laws.
Critical Thinking (CRT): Critical thinking is central to EC333. Students learn to construct arguments for both sides in a case, and then analyze how judges should proceed in these environments.
Prerequisites: EC201, Calculus
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Grading: |
Homework Class Participation Midterm I Midterm II Final |
15% 5% 25% 25% 30% |
There will be five to seven homework assignments (more assignments implies shorter assignments). They are due one week after being handed out. Unless there is a pre-arranged reason, the penalty for lateness is: up to 48 hours late, forgiven once and 10% off thereafter, up to one week late 25% off. I return assignments along with answer keys one week after they are due, and there is no credit for turning in assignments after that point. Around tests, I may return assignments in less time, which would correspondingly limit the amount of time to turn in late work.
I will assign several readings or podcasts near the end of the semester, along with a few questions that we will use to hold class discussion. This work affects only your class participation grade.
Midterms are not cumulative. The Final Exam will focus on questions from the last third of the class. It may contain questions on material from the entire semester, although I will prepare you for the topic. Regardless of the exact questions, many issues reappear throughout the semester, so early classes are important for the final exam.
Please note that I grade not only on the content of your work but also on the clarity with which it is presented. I try to take account of students’ facility with the English language, but the ability to present your ideas clearly is among the most important skills you develop in a college education, and it is one that will be stressed in this class.
You are welcome to bring calculators to exams.
Class participation encompasses all ways in which you contribute to or distract from the classroom environment. For instance, participating in discussion and arriving at class promptly both count. Electronic devices (such as cellular phones) must be rendered silent before class begins. Failure to do so leads to an immediate loss of points for class participation, and repeated failure is subject to further action.
In order to obtain full credit for class participation, you must raise your hand and be called on. Speaking once every few weeks is enough to obtain full credit. Further participation is, of course, very welcome, but it does not impact your grade.
I will sometimes select students randomly to answer questions, even if those students have not requested to speak. If you are very uncomfortable with this arrangement, please see me. Your answers in these situations have no bearing on your class participation grade, positive or negative.
Students missing class are expected to get notes from fellow classmates. Any handouts or assignments appear on the web page by the day after class.
Calculus will play a role in this class. I will teach you enough to get by if you have not taken calculus previously, but students that have not taken calculus before typically struggle with a portion of the class.
2025-10-09