competition law and economics

Since the end of the 1970, economics has changed the way we are thinking about competition law, from collusion to exclusionary practices. The purpose of that certificate course will be to explain the economic structure of competition law and the way economists are considering legal mechanisms.

Lecture 1. Why do we have competition law? The economic rationale

In that lecture, I will present the neoclassical understanding of competition law and why competition law is required. We will see that, for economists, the notion of “surplus” is fundamental since it is a measure of the social welfare.

Lecture 2. Understanding the limits of competition law

When competition law is considered, the optimal design of competition rules if often not considered. For efficiency reasons, however, addressing the limits and possibilities of competition law is required. In that lecture, we will for example inquire into the relevance of sanctioning mere intent or the relevance of exemptions.

Lecture 3. Elements on the economics of collusion

Collusion is probably the most well-known anti-competitive practice. We will consider its logic and its dynamic. What are the types of collusion that we need to sanction? Is a collusion really sustainable according to economic theory?

Lecture 4. Elements on the economics of unreasonable use of market power

In that lecture, we will not only address the question of market power and the way to measure it but also consider the economic meaning of “unreasonable” when that market power is used.

Lecture 5. Elements on the economics of mergers

Mergers are regulated all over the world as a way to prevent some undesirable effects. In that lecture I will present the framework used by economists to consider the efficiency of a merger.