In this course, students first analyse the various models of economic regulation used in current market economies, specially the regulatory framework of the European Union, mainly as regards regulating monopolies, promoting competition and the environment. Secondly, students look at the fundamental concepts and instruments of the Law of Competition and its application in the European Union. Thirdly, students analyse models to stipulate regulatory goals, based both on public interest theories and private interest theories. Finally, students analyse the main aspects of the penalty regime, centred on the Law of Competition, and discuss economic approaches to determining penalties.