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Market Power and Competition Law (LAWS70029)
Graduate coursework level 7Points: 12.5Not available in 2018
About this subject
Overview
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Market power is a pivotal concept underpinning the competition and access provisions of competition legislation—in Australia, the Competition and Consumer Act 2010 (Cth)—as well as corresponding provisions of competition laws worldwide. Prohibitions against misuse of market power (or abuse of dominance in other jurisdictions) involve a complex combination of legal and economic principles, an understanding of which gives considerable insight into many other aspects of competition law and policy. This subject provides a detailed and sophisticated examination of the regulation of market power, using the Australian experience as illustrative with European and American examples used as points of comparison. It focuses upon practical implications for industries in which market power has been an issue (eg telecommunications, supermarkets, aviation). The lecturers, a lawyer and an economist, each have considerable practical experience acting for and against the competition regulator, as well as a strong academic track records in the field.
Principal topics include:
- What is market power and when does it arise?
- Legal principles and economic theory
- Measurements of market power
- The relationship between misuse of market power and the access regime
- Recent amendments to predatory pricing provisions and ongoing reform agendas
- Strategic behaviour and misuse of market power
- Structural remedies and market design issues
- Industry case studies such as telecommunications, supermarkets and aviation.
Intended learning outcomes
A student who has successfully completed this subject will:
- Have an advanced and integrated understanding the current law set out in the Competition and Consumer Act 2010 (Cth) on the misuse of market power
- Have a sophisticated understanding of the legal and economic theory behind the concepts of market power and abuse of market power
- Be able to critically examine, analyse, interpret and assess the effectiveness of the legal rules pertaining to market power
- Have an advanced understanding of other means by which market power is managed or regulated in Australia, and an appreciation of how those measures relate to the prohibition against misuse of market power
- Be an engaged participant in debate regarding various reform proposals to Australia’s system for regulating market power, whether industry-specific or of general application
- Have some insight into the regulation of market power in other jurisdictions, enabling an informed assessment of the strengths and weaknesses of the Australian regime
- Have the cognitive and technical skills to consider the prohibition against misuse of market power in a commercial context so as to be able to advise clients on compliance and potential liability
- Have the cognitive and technical skills to independently examine, research and analyse market power issues
- Have the communication skills to clearly articulate and convey complex information regarding market power to relevant specialist and non-specialist audiences
- Be able demonstrate autonomy, expert judgment and responsibility as a practitioner and learner in the field of market power.
Last updated: 3 November 2022