School of Management
The University of Texas at Dallas
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Course: |
FIN 6308.0G1 - Distance Learning (Online) Course |
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The Regulation of Business and Financial Markets |
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Instructor: |
Peter Lewin |
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Semester: |
Fall 2009 |
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Dates: |
August
20 – December 16, 2009 |
| Course Info | Tech Requirements | Access and Navigation | Communications | Resources | Assessments | Course
Outline | Scholastic Honesty | Course
Evaluation
| UTD Policies |
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Welcome to Welcome to FIN 6308! This syllabus page will provide you with necessary information on the technical requirements, course requirements and expectations, materials and dates. You can use the contents links above to navigate. Please contact me with any questions. I am looking forward to meeting you online. |
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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 online 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., Sixteenth edition, Addison Wesley, 2009. ISBN # 0-321-30349-0
- The Antitrust Religion (Hardcover) by Edwin S. Rockefeller. Cato Institute, 2007. ISBN-13: 978-1933995090
- 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 MBS Direct Virtual Bookstore or Off-Campus Books web ordering site. They are also available in UTD Bookstore and Off-Campus Books and may also be available online.
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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· Editorial from the Wall Street Journal, January 24,
2001 – on California and its problems. |
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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.
Technical Requirements (provided by UTD eLearning)
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 through UTD Galaxy: http://galaxy.utdallas.edu or directly 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. Please see more details about communication tool information.
Interaction with Instructor: I will communicate with students mainly using the Discussion board. 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
Resources
The following university resources are available to students:
UTD Distance Learning: http://www.utdallas.edu/oee/distance/students/cstudents.htm
McDermott Library: Distance Learners (UTD students who live outside
the boundaries of Collin, Dallas, Denton, Rockwall, or Tarrant counties) will need a UTD-ID number to access all
of the library’s electronic resources (reserves, journal articles, ebooks,
interlibrary loan) from off campus. For UTD students living within those
counties who are taking online courses, a Comet Card is required to check out
materials at the McDermott Library. For more information on library resources
go to http://www.utdallas.edu/library/distlearn/disted.htm.
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 |
September 18 - 20 |
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Test 2 |
25% |
Lessons 4, 5, and 6 |
October 23 - 25 |
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Test 3 (final) |
50% |
Lessons 7, 8 (25%)
All Lessons (25%) |
December 4 – 6 |
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Maximum bonus for
class participation - awarded on
quality of posts. |
5% |
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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 tests.
You can check your grades by accessing “My Grade” icon under My Tools on the Course Menu after the grade for each assessment task is released.
Class Participation (up to a possible 5% bonus added to your score)
You may participate in class discussion by following the “Discussions” link on your navigation menu (on the left side of the screen). I will create and manage a series of discussion topics and questions at different points during the semester. Discussion on particular topics will be open for only a limited time period. So, you should watch this space very regularly for current and new topics. I encourage you to post questions or comments on the topics (this is a public space, so everyone will see your posting). You will be rewarded for evidence that you understand the material and that suggests good thinking. You will not be rewarded for postings that do not fall into this category – and you could be penalized for subjecting me and your fellow classmates to postings that are a waste of time. So keep your postings short and make sure they have some value.
In addition to the providing you the possibility of earning a bonus, the discussions will prepare you for the tests. So I urge you to at least read the discussions and my replies as part of your learning and preparation.
To ask general questions, or make a general comment – related to the course in general and not to a specific topic – make use of the topic space entitled “Questions for Peter Lewin.” Remember everyone in the class will see these, so use this space for communications that may be of interest to everyone. To communicate with me privately, on topics of interest or pertinent only to you, please use the “Mail” link on your navigation menu (on the left side of the screen). To keep abreast of the latest topics and on announcements relating to the course – which could include supplementary course information – be sure to keep updated with “Announcements”.
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
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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 |
September 18 - 20 |
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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 – regulation in the wake of Enron; the regulation of financial institutions, money, inflation and foreign currencies. |
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Test 2 - Lessons 4, 5, and 6 |
October 23 - 25 |
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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%) |
December 4 – 6 |
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.
University
Policies
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.
© 2009: Professor Peter Lewin, plewin@utdallas.edu