This course surveys the laws that govern markets. It emphasizes regulation of monopolies and financial risk. Our study of monopolies will cover competition policy under antitrust law and its alternatives, including rate and service regulation. Our study of financial risk will cover investor protection under securities law and management of systemic risk. Throughout we will evaluate and compare various regulatory models, including administrative agencies, federal and state law enforcement, private actions, and self-regulation. Topics will include legal responses to innovation, markets of special interest to Montana, and the current financial crisis, all of which we will place in context with past deregulation episodes, bailouts, and shifts in regulatory and judicial attitudes. The course is a seminar, with grades based on class participation and a short paper or presentation.