COURSE SYLLABUS
School of Management
The University of Texas at Dallas
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Course: Instructor: Home Page: Semester: Start/End Date: Time: |
BA 4309 - 002 - REGULATION OF BUSINESS Peter Lewin http://www.utdallas.edu/~plewin/ Spring 2012 January
17 – May 4 MW 10:00 a.m. - 11:15 a.m. SOM 2.103 |
| Course Info | Tech Requirements | Access and Navigation | Communications | Resources | Assessments | Course Outline | Scholastic Honesty | Course Evaluation | UTD Policies |
Course
Information
Course Description
All business occurs within a particular legal and regulatory environment. This course will examine the structure and effects of that environment. The general theory of government regulation will be explained as it applies to various specific cases. Included will be such topics as the analysis of government regulations concerning safety, the environment, anti-trust, anti-discrimination, financial trading, health care and price controls. These topics will be examined within a general theoretical framework paying particular attention to comparisons between the impact of these laws and their apparent intent. The role of changes in technology, the political environment and other macro-global influences will be addressed. Prerequisite: MECO 6201/6303.
My goal is to have students emerge from this course with a critical understanding of the regulatory environment in which business occurs. This environment is the result of the interaction between the legal structure and economic realities. Such a critical understanding would consist of the ability to assess the particular legal and regulatory structure and to understand how it works to achieve or fail to achieve its apparent purpose and how it affects other aspects of business life.
Course Format
The course material consists of 8 lessons. See Course Outline for details. Some of the lessons are longer than others. Please consult the accompanying instructions to determine how to listen to the online lessons and view the PowerPoint slides.
Instructor Information
Dr. Peter Lewin
Email: plewin@utdallas.edu
Instructor's Web Site: http://www.utdallas.edu/~plewin
Online Course Site: http:/elearning.utdallas.edu/ (requires login, see instructions below)
You can contact me anytime by phone or email, or by appointment in my office.
Instructor Information
1. Instructor brief biography
I was born and grew up in Johannesburg, South Africa. I received a BA (honors) degree in Economic and History from the University of the Witwatersrand in Johannesburg in 1969. In September 1972, after teaching at the business school there, I left to study at the University of Chicago. I received a Ph.D. in Economics from the University of Chicago in 1979. I was fortunate to have had four Nobel prize winners as teachers. In January 1979 I moved with my family to Dallas, where we have lived ever since. After seven years as an academic, I tried my hand in an entrepreneurial venture and joined a friend in a startup business called Soft Warehouse. Today it is called CompUSA. I was one of its founding shareholders. It was a difficult but very enlightening experience. In 1992 I decided to return to academics and have been with the UTD School of Management since 1997. I love my job. I have a passion for teaching and for economics.
My wife and I were married in December 1969. We have four children and two grandchildren.
To see more about my professional and personal life visit my website at http://www.utdallas.edu/~plewin/
2. Contact Information
My full contact information
is:
Email: plewin@utdallas.edu
Phone: 972-883-2729
Office: SM 3.223
You can contact me anytime by phone or email, and see me by appointment in my office. Under normal circumstances I prefer email.
Course Materials
Each audio lesson is accompanied by complementary visual material (in PowerPoint format). These materials contain lesson objectives, information on recommended reading and provide required formulas, diagrams, tables and outlines.
The following texts will serve as a guide to discussions and are required.
·
The
Economics of Public Issues by Roger Leroy
Miller et. al., Seventeenth edition, Addison Wesley, 2012.
ISBN # 0-23-802113-9 or 978-13-802113-9
·
The
Antitrust Religion by
Edwin S. Rockefeller Cato Institute 2007. ISBN # 1933995092 or 978-1933995090
(also available in kindle edition 193-3995092).
·
Capitalism
and Freedom by Milton
Friedman, Paperback - 2nd edition (February 1963) University of Chicago Press;
ISBN: # 0-226-264-01-7
·
Give Me a Break
by John Stossel Harper Collins or Perennial
Currents, 2004/5. ISBN:# 0060529156 or # 0060529148
·
Note
also Stossel’s other book which I highly recommend
for enjoyable and informative, albeit alarming, reading: Myths, Lies, and Downright Stupidity: Get Out the
Shovel--Why Everything You Know is Wrong (Hyperion, 2006) ISBN:
#1401302548.
Some online materials will be included in the PowerPoint presentations and the suggested reading for each lesson will be indicated.
Textbooks and some other bookstore materials can be ordered online through a vendor of your choice or from Off-Campus Books or the UTD Bookstore. They are also available in stock at both bookstores.
In addition here are some helpful links
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1. to articles relevant to our
discussion of monopoly and anti-trust. |
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· Articles by Armentano and others
in the Freeman on Antitrust – worth reading! |
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2. to articles relevant to School
Choice |
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· The Milton and
rose Friedman foundation on educational choice |
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· Milton Friedman editorial on Vouchers in the WSJ
06/09/2005 |
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3. to other stuff in general. |
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4. to the Environment |
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· To
Drill or Not to Drill: Let the Environmentalists Decide |
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· Editorial on Global Warming and Alarmism (2006) – must
read !! |
I will add links relevant to our discussions to the Reading Resources section as we go along.
A. Introduction
There
is no traditional “textbook” for this course. You are encouraged to read freely
in the four texts provided, to seek out the material relevant to the issues in
the lectures and the discussions.
This
Guide is designed to introduce you to the texts and to suggest some
associations between the lessons and the reading material.
B. The Texts
· The Economics of Public Issues by Roger Leroy Miller et. al., Thirteenth
edition, Addison Wesley 2012 edition.
This is our most
widely used text. It is clearly written and very accessible. It consists of a
series of chapter-long issues or “cases.” I suggest reading the relevant
chapters once through before the lecture and discussion, once again after
listening to the lecture and participating in the discussion and perhaps going
over it before the tests.
· The Antitrust Religion by Edwin S. Rockefeller. Cato Institute, 2007. ISBN-13:
978-1933995090
This is a sustained and trenchant
analysis of current and past antitrust law as it actually works in practice and
how it is inappropriately modeled on irrelevant neoclassical economic models.
· Capitalism and
Freedom by Milton Friedman, Paperback - any edition
(originally 1963) University of Chicago Press; ISBN: # 0-226-264-01-7
Milton Friedman is perhaps the most
well-known economist of the 20th century. He is also a
political commentator of sorts. This book is a classic, worth reading and
rereading over long periods of time. It is written in the time-honored
tradition of British Liberal thought – the same ideas that inspired the
founders of this nation. Not all students find it easy reading, but I urge you
to persevere.
· Give Me a Break by
John Stossel, Harper Collins or Perennial
Currents, 2004/5. ISBN:#0060529156
This is a popular
book and should be very easy reading. It may infuriate some of you. That’s ok,
get mad. But then try and see if you can point out where Stossel is wrong. If you can’t, then maybe you ought
to rethink getting mad. I urge you to read this book right through. I believe
it to be a rare and refreshing look at some of the current follies that beset
our society and our thinking. But whether you agree or not its worth thinking about.
General Outline
The table below
outlines the reading assignments for each class according to the following key
M. is Miller et. al.,
R, is Rockefeller,
F. is Friedman
S. is Stossel
The numbers refer to
the chapters.
|
Lesson |
Theme |
|
Notes. |
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Lesson 1 |
General Introduction |
F. Preface, 1, 2 M. 1, 4 , 5. S. 5,6.7. |
Friedman provides the general
background values for the course. The Miller and Stossel chapters are applications suggested
by the lectures. |
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Lesson 2 |
Elementary Regulation |
M. 6,7, 8, 9, 10, 12, 22, 29 S. 8 |
The issues here are price-controls,
taxes, subsidies, tariffs, free trade. |
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Lesson 3 |
Regulation of Monopoly |
R. all chapters. M. part 4, + 29 |
Rockefeller provides the
detailed arguments and background. The Miller chapters are applications. |
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Lesson 4 |
Regulation of Labor |
F. 7 M. 11, 13, 14 |
Friedman’s chapter was
written before the civil rights and affirmative action initiatives. There is
a huge literature, but I elected not to burden you with extra material. The
lecture will be your main guide. |
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Lesson 5 |
Occupational Licensure |
F. 9 M.19 S. 9 |
Friedman’s chapter is the
classic statement of this position. The Miller and Stossel chapters provide applications to
specific aspects. |
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Lesson 6 |
Regulation of Capital |
M. 20, 21, 23 |
The Miller chapters are
applications. You need not read all of my paper – read it lightly to get an
idea of the issues involved with inflation. |
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Lesson 7 |
Regulation of the Use of
the Environment |
M. Part 6. S. 10 |
The lectures provides the essential
framework. Think hard about the upstream-downstream problem and the Coase
Theorem. The chapters suggested here provide some illustrative cases. |
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Lesson 8 |
Conclusion |
M. Part 7. |
Technical
Requirements (provided by UTD eLearning)
I make extensive use of E-Learning in this course. In addition to a confident level of computer and Internet literacy, certain minimum technical requirement must be met to enable a successful learning experience. Please review the important technical requirements and the web browser configuration information.
Course
Access and Navigation
This course was developed using a web course tool called eLearning. It is to be delivered entirely online. Students will use their UTD NetID account to login to the course at: http://elearning.utdallas.edu Please see more details on course access and navigation information.
To get started with an eLearning course, please see the Getting Started: Student eLearning Orientation.
UTD provides eLearning technical support 24 hours a day and 7 days a week. The improved services include a toll free telephone number for immediate assistance (1-866-588-3192), email request service, and an online chat service. The UTD user community can also access the support resources such as self-help resources and a Knowledge Base. Please use this link to access the UTD eLearning Support Center: http://www.utdallas.edu/elearninghelp.
Policy on Server Unavailability or Other Technical Difficulties
The university is committed to providing a reliable online course system to all users. However, in the event of any unexpected server outage or any unusual technical difficulty which prevents students from completing a time sensitive assessment activity, the instructor will extend the time windows and provide an appropriate accommodation based on the situation. Students should immediately report any problems to the instructor and also contact the UTD eLearning Help Desk: http://www.utdallas.edu/elearninghelp, 1-866-588-3192. The instructor and the UTD eLearning Help Desk will work with the student to resolve any issues at the earliest possible time.
Communications
This eLearning course has built-in communication tools which will be used for interaction and communication. Some external communication tools such as regular email and a web conferencing tool may also be used during the semester..
Interaction with Instructor: Students may send personal concerns or questions to me using the course Email tool or, preferably, by private email address, plewin@utdallas.edu. I will reply to student emails or Discussion board messages within 3 working days under normal circumstances.
Student Assessment:
Grading/Evaluation
There will be three timed online tests, two midterms (25% each) and a comprehensive final (50%). The tests will be composed of multiple choice questions. In addition 5% can be added to your grade by participation.
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Test 1 |
25% |
Lessons 1, 2, and 3 |
February 17 – 19 |
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Test 2 |
25% |
Lessons 4, 5, and 6 |
March 16 - 18 |
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Test 3 (final) |
50% |
Lessons 7, 8 (25%) All Lessons (25%) |
May 4 – 6 |
As you can see there is very minimal time available for this course. We will have to stay very close to a tight timetable. The dates of the discussions (which I will provide as we go along) will not track exactly with the dates provided for the online tests, since I have made these available over the weekend for your convenience. So be sure not to fall behind because there is no time to catch up.
Makeup tests will be allowed only for very special circumstances. There are NO extra credit assignments.
Please see below for further information on the online tests.
You can check your grades by accessing “My Grade” icon under My Tools on the Course Menu after the grade for each assessment is released.
Online Testing
You can access tests by clicking the "Assessments" link on the course Menu or the icon on the designated page and then clicking the available test title links. Each test is timed and can only be taken for ONE TIME within the scheduled time window. Please read the on-screen instructions carefully before you click “Begin Assessment”. After each quiz is graded and released, you may go back to the Assessments page and click “View All Submissions” to review your exam results.
Self-Tests
There is a self test available for each lesson module. Those are non-credit quizzes for self assessment. Please take the quiz after you finish each lesson. Please see the instruction above on accessing the self tests.
Course
Outline
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Lesson 1 – two parts |
General Introduction:
Regulation – its origins and effects. Regulation involves the truncation of
ownership. It is both the product and cause of changes in economic incentives.
An examination of various theories of government and regulation. |
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Lesson 2 – two parts |
Elementary Regulation: Price
controls, tariffs, taxes, subsidies and quotas. Minimum wages, rent controls,
salary caps. |
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Lesson 3 – three parts |
Regulation of Monopoly: The
development of anti-monopoly law in America. The current anti-trust
environment. |
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Test 1 - Lessons 1, 2, and 3 |
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Lesson 4 – two parts |
Regulation of Labor: anti-discrimination,
equal pay and equal employment opportunity, labor safety laws, unemployment
insurance, labor unions. |
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Lesson 5 – two parts |
Occupational licensure: The
economics of health care and other professions. |
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Lesson 6 – two parts |
Regulation of Capital: the
regulation of the monetary and financial sectors –the regulation of financial
institutions, money, inflation and foreign currencies. |
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Test 2 - Lessons 4, 5, and 6 |
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Lesson
7 – two parts |
Regulation of the use of the Natural
Environment: The economics of the environment. Air pollution, hazardous
materials, preservation of wildlife, depleteable
resources. |
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Lesson
8 |
General Conclusion: The
Ethical Foundations of Business Behavior Politics, Economics and the
way of the world. |
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Test 3 (final) - Lessons 7, 8
(25%) All Lessons (25%) |
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Scholastic Honesty
The University has policies and
discipline procedures regarding scholastic dishonesty. Detailed information is
available on the UTD Judicial Affairs web page. All students are expected
to maintain a high level of responsibility with respect to academic honesty.
Students who violate University rules on scholastic dishonesty are subject to
disciplinary penalties, including the possibility of failure in the course
and/or dismissal from the University. Since such dishonesty harms the
individual, all students and the integrity of the University, policies on
scholastic dishonesty will be strictly enforced.
Course Evaluation
As required by UTD
academic regulations, every student must complete an evaluation for each
enrolled course at the end of the semester. An online instructional assessment
form will be made available for your confidential use. Please look for the
course evaluation link on the course Homepage towards the end of the course.
Student
Conduct & Discipline
The
University of Texas System and The University of Texas at Dallas have rules and
regulations for the orderly and efficient conduct of their business. It is the
responsibility of each student and each student organization to be
knowledgeable about the rules and regulations which govern student conduct and
activities. General information on student conduct and discipline is contained
in the UTD publication, A to Z Guide, which is provided to all
registered students each academic year.
The
University of Texas at Dallas administers student discipline within the procedures
of recognized and established due process. Procedures are defined and described
in the Rules and Regulations, Board of Regents, The University of Texas
System, Part 1, Chapter VI, Section 3, and in Title V, Rules on Student
Services and Activities of the university’s Handbook of Operating Procedures.
Copies of these rules and regulations are available to students in the Office
of the Dean of Students, where staff members are available to assist students
in interpreting the rules and regulations (SU 1.602, 972/883-6391).
A student at
the university neither loses the rights nor escapes the responsibilities of
citizenship. He or she is expected to obey federal, state, and local laws as
well as the Regents’ Rules, university regulations, and administrative rules.
Students are subject to discipline for violating the standards of conduct
whether such conduct takes place on or off campus, or whether civil or criminal
penalties are also imposed for such conduct.
Academic
Integrity
The faculty
expects from its students a high level of responsibility and academic honesty.
Because the value of an academic degree depends upon the absolute integrity of
the work done by the student for that degree, it is imperative that a student demonstrate
a high standard of individual honor in his or her scholastic work.
Scholastic
dishonesty includes, but is not limited to, statements, acts or omissions
related to applications for enrollment or the award of a degree, and/or the
submission as one’s own work or material that is not one’s own. As a general
rule, scholastic dishonesty involves one of the following acts: cheating,
plagiarism, collusion and/or falsifying academic records. Students suspected of
academic dishonesty are subject to disciplinary proceedings.
Plagiarism,
especially from the web, from portions of papers for other classes, and from
any other source is unacceptable and will be dealt with under the university’s
policy on plagiarism (see general catalog for details). This course will use
the resources of turnitin.com, which searches the web for possible plagiarism
and is over 90% effective.
Email Use
The
University of Texas at Dallas recognizes the value and efficiency of
communication between faculty/staff and students through electronic mail. At
the same time, email raises some issues concerning security and the identity of
each individual in an email exchange. The university encourages all official
student email correspondence be sent only to a student’s U.T. Dallas email address
and that faculty and staff consider email from students official only if it
originates from a UTD student account. This allows the university to maintain a
high degree of confidence in the identity of all individual corresponding and
the security of the transmitted information. UTD furnishes each student with a
free email account that is to be used in all communication with university
personnel. The Department of Information Resources at U.T. Dallas provides a
method for students to have their U.T. Dallas mail forwarded to other accounts.
Withdrawal
from Class
The
administration of this institution has set deadlines for withdrawal of any
college-level courses. These dates and times are published in that semester's
course catalog. Administration procedures must be followed. It is the student's
responsibility to handle withdrawal requirements from any class. In other
words, I cannot drop or withdraw any student. You must do the proper paperwork
to ensure that you will not receive a final grade of "F" in a course
if you choose not to attend the class once you are enrolled.
Student
Grievance Procedures
Procedures
for student grievances are found in Title V, Rules on Student Services and
Activities, of the university’s Handbook of Operating Procedures.
In
attempting to resolve any student grievance regarding grades, evaluations, or
other fulfillments of academic responsibility, it is the obligation of the
student first to make a serious effort to resolve the matter with the
instructor, supervisor, administrator, or committee with whom the grievance
originates (hereafter called “the respondent”). Individual faculty members
retain primary responsibility for assigning grades and evaluations. If the
matter cannot be resolved at that level, the grievance must be submitted in
writing to the respondent with a copy of the respondent’s School Dean. If the
matter is not resolved by the written response provided by the respondent, the
student may submit a written appeal to the School Dean. If the grievance is not
resolved by the School Dean’s decision, the student may make a written appeal
to the Dean of Graduate or Undergraduate Education, and the deal will appoint
and convene an Academic Appeals Panel. The decision of the Academic Appeals
Panel is final. The results of the academic appeals process will be distributed
to all involved parties.
Copies of
these rules and regulations are available to students in the Office of the Dean
of Students, where staff members are available to assist students in
interpreting the rules and regulations.
Incomplete
Grade Policy
As per university policy, incomplete grades will be
granted only for work unavoidably missed at the semester’s end and only if 70%
of the course work has been completed. An incomplete grade must be resolved within
eight (8) weeks from the first day of the subsequent long semester. If the
required work to complete the course and to remove the incomplete grade is not
submitted by the specified deadline, the incomplete grade is changed
automatically to a grade of F.
Disability
Services
The goal of
Disability Services is to provide students with disabilities educational
opportunities equal to those of their non-disabled peers. Disability Services
is located in room 1.610 in the Student Union. Office hours are Monday and
Thursday, 8:30 a.m. to 6:30 p.m.; Tuesday and Wednesday, 8:30 a.m. to 7:30
p.m.; and Friday, 8:30 a.m. to 5:30 p.m.
The contact
information for the Office of Disability Services is:
The
University of Texas at Dallas, SU 22
PO Box
830688
Richardson,
Texas 75083-0688
(972)
883-2098 (voice or TTY)
Essentially,
the law requires that colleges and universities make those reasonable
adjustments necessary to eliminate discrimination on the basis of disability.
For example, it may be necessary to remove classroom prohibitions against tape
recorders or animals (in the case of dog guides) for students who are blind.
Occasionally an assignment requirement may be substituted (for example, a
research paper versus an oral presentation for a student who is hearing
impaired). Classes enrolled students with mobility impairments may have to be
rescheduled in accessible facilities. The college or university may need to
provide special services such as registration, note-taking, or mobility
assistance.
It is the student’s
responsibility to notify his or her professors of the need for such an
accommodation. Disability Services provides students with letters to present to
faculty members to verify that the student has a disability and needs
accommodations. Individuals requiring special accommodation should contact the
professor after class or during office hours.
Religious
Holy Days
The
University of Texas at Dallas will excuse a student from class or other
required activities for the travel to and observance of a religious holy day
for a religion whose places of worship are exempt from property tax under
Section 11.20, Tax Code, Texas Code Annotated.
The student
is encouraged to notify the instructor or activity sponsor as soon as possible
regarding the absence, preferably in advance of the assignment. The student, so
excused, will be allowed to take the exam or complete the assignment within a
reasonable time after the absence: a period equal to the length of the absence,
up to a maximum of one week. A student who notifies the instructor and
completes any missed exam or assignment may not be
penalized for the absence. A student who fails to
complete the exam or assignment within the prescribed period may receive a
failing grade for that exam or assignment.
If a student
or an instructor disagrees about the nature of the absence [i.e., for the
purpose of observing a religious holy day] or if there is similar disagreement
about whether the student has been given a reasonable time to complete any
missed assignments or examinations, either the student or the instructor may
request a ruling from the chief executive officer of the institution, or his or
her designee. The chief executive officer or designee must take into account
the legislative intent of TEC 51.911(b), and the student and instructor will
abide by the decision of the chief executive officer or designee.
Off-Campus
Instruction and Course Activities
Off-campus, out-of-state, and
foreign instruction and activities are subject to state law and University
policies and procedures regarding travel and risk-related activities.
Information regarding these rules and regulations may be found at the website
address given below. Additional information is available from the office of the
school dean. (http://www.utdallas.edu/BusinessAffairs/Travel_Risk_Activities.htm)
These
descriptions and timelines are subject to change at the discretion of the
Professor.
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