316-460 Advanced Restrictive Trade Practices

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Objectives:

On completion of this subject students should:

• understand the structure of the Trade Practices Act and the interaction between the various restrictive trade practices provisions;

• be able to construe each restrictive trade practice section of the Trade Practices Act in terms of its mixed economic - legal content;

• have an understanding of relevant economic concepts such as 'markets', 'market power', 'competition', 'barriers to entry', 'economic efficiency';

• develop the ability to analyse and appraise the reasoning of the courts in leading cases;

• understand how court procedures and the laws of evidence shape the outcome of litigation, and the development and efficacy of the law;

• develop the ability to identify in actual forms of business conduct practices that are prohibited or suspect;

• understand the policy objectives in legislating to control various categories of restrictive trade practices such as 'price-fixing', 'misuse of market power', mergers for 'market dominance' and 'exclusive dealing';

• be aware of the analytical circumstances in which restrictive practices, and market power, promote the public interest and how to identify those circumstances in practice;

• develop a critical appreciation of the structure of penalties and remedies for breaches of the Act;

Content:

A study of depth of those parts of the Trade Practices Act 1974 (Cth) that relate to restrictive trade practices. This is an interdisciplinary seminar which aims to integrate the relevant law of economics and to highlight important issues of business policy. Topics will include price fixing and other collusive agreements, misuse of market power, mergers, resale price maintenance, exclusive dealing, authorisation and exemption, enforcement and remedies. These are issues raised by most legislation to control monopolies and restrictive practices, and the course aims to develop analytic skills which will be of continuing relevance whatever the amendments to the law.

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