Economics relies on theory, numbers and scientific evidence. Economic evidence and analysis play a crucial role when dealing with competition law. Economic analysis therefore is the heart of competition law.

As a lawyer it is essential to have some knowledge on economic analysis when dealing with competition law. This course aims to apply economic theory to the practice of competition law.

COURSE DETAILS

• Level - Beginner
• Total no. of videos - 45
• Total no. of assignments - 53

Instructor

YUGANK GOYAL

Yugank Goyal is the Assistant Professor and Assistant Dean (Research & International Collaborations) at Jindal Global Law School. His tryst with Economics of Competition Law began while studying for his Masters at Erasmus University Rotterdam. Having worked in areas related to regulation and governance, he has gained a firm mastery over economics of competition law.

1. Introduction

• • 1.1 Welcome
  • 1.2 Why take this course?

2. Role of Competition Law

• • 2.1 Why competition law?
  • 2.2 Need for economics in competition cases
  • 2.3 Moving from MRTP to the Competition Act, 2002
  • 2.4 Competition Commission of India (CCI) and COMPAT

3. Basic Microeconomics

• • 3.1 Demand and supply curve
  • 3.2 Elasticity
  • 3.3 Cross-price elasticity
  • 3.4 Marginal cost
  • 3.5 Producer surplus and consumer surplus

4. Goals of Competition Law

• • 4.1 Efficiency
  • 4.2 Consumer welfare

5. Economic Approaches - Form versus Effect

• • 5.1 The Harvard School approach
  • 5.2 Chicago School approach
  • 5.3 Which theory does India follow?
  • 5.4 Transaction cost and industrial organisation theories

6. Market Power and its Abuse

• • 6.1 What is market power?
  • 6.2 Identifying the source of market power
  • 6.3 What is dominance?

7. Relevant Market

• • 7.1 Determining the relevant product market
  • 7.2 Determining the relevant geographic market

8. Estimating Market Power

• • 8.1 Conditions necessary for market power
  • 8.2 Using elasticity to determine market power
  • 8.3 Estimating market power using market share
  • 8.4 Estimating market power – Lerner Index
  • 8.5 Estimating market power – HHI Index
  • 8.6 Relationship between profits and market power
  • 8.7 Calculating costs when there exist common costs

9. Determining the Relevant Market

• • 9.1 Relevant market – Hypothetical Monopolist Test or SSNIP test
  • 9.2 Critical loss analysis
  • 9.3 Demand and supply substitutability

10. Abuse and Vertical Restraints

• • 10.1 What is abuse of dominant position?
  • 10.2 Vertical restraints - the concept
  • 10.3 Principal agent relationship in economics
  • 10.4 Justifying vertical restraints

11. Other forms of Abuse

• • 11.1 Tying and bundling
  • 11.2 Justifying tying and bundling
  • 11.3 Predatory pricing
  • 11.4 Justifications for predatory pricing

12. Collusions and Cartels

• • 12.1 Understanding collusions and collusive agreements
  • 12.2 Identifying a cartel – conditions necessary for cartels
  • 12.3 Defending a cartel
  • 12.4 Justifying cartels

13. Good bye

• • 13.1 Conclusion and next steps