Regulatory Governance

M. A. / M. Sc.
Program in Regulatory Governance
Curriculum and Description of Courses

(To be launched in 2012-13)
Developed by
Centre for Water Policy, Regulation and Governance
School of Habitat Studies,Tata Institute of Social Sciences
in collaboration with
Prayas Pune and External Experts
Mumbai
March 2013
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Contents
M. A. / M. Sc. Program in Regulatory Governance .................................................................................. 1
I. About the School of Habitat Studies ..................................................................................................... 4
II. Introduction to the Masters Programme in Regulatory Governance..................................................... 4
2.1 Rationale for the Programme by TISS ............................................................................................. 5
2.2 Why engage with Regulatory Governance? .................................................................................... 6
2.3 Scope of the Programme ............................................................................................................... 7
2.4 Overall Purpose ............................................................................................................................. 8
2.5 Specific Objectives ......................................................................................................................... 8
2.6 Student Intake ............................................................................................................................... 8
2.7 Career Paths for Students .............................................................................................................. 9
2.8 Key Features .................................................................................................................................. 9
III. Process of Curriculum preparation...................................................................................................... 9
IV. Program Structure .............................................................................................................................. 9
4.1 Building Blocks of the Program....................................................................................................... 9
4.2 Brief Explanation of Different Components and Lists of Courses................................................... 10
4.3 Semester-Wise Distribution of Courses and Credits...................................................................... 12
4.4 Brief Description of Individual Courses ......................................................................................... 17
VI. Fees and Deposits in Rupees............................................................................................................. 21
VII. Details of Courses ............................................................................................................................ 22
RG1: Introduction to Public Policies: Concepts, Theory, and Practice ................................................. 22
RG2: Introduction to the Indian Legislative, Legal, and Administrative System ................................... 25
RG3: History and Perspectives of Regulation...................................................................................... 27
RG4: Basics of Financial Analysis ........................................................................................................ 30
RG5: Research Methods – I ................................................................................................................ 32
RG6: Concepts and Theories in Regulatory Governance ..................................................................... 34
RG7: Economics for Regulation .......................................................................................................... 36
RG8: Financial Aspects of Regulation ................................................................................................. 39
RG9: Regulatory Impact Analysis........................................................................................................ 41
RG10: Instruments of Regulation-1 .................................................................................................... 44
RG11: Basic course on Regulatory Skills ............................................................................................. 46
RG12: Research Methods – II ............................................................................................................. 48
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RG13: Introductory Course on Sectoral Regulation ............................................................................ 51
RG14: Regulatory Clinic-1 .................................................................................................................. 57
RG15: Introduction to Social and Environmental Regulation Rationales ............................................. 59
RG16: Instruments of Regulation-2 .................................................................................................... 61
RG17: Regulatory Functioning: Process, Procedures and Activities..................................................... 64
RG18: Law for Regulation .................................................................................................................. 67
RG19: Elective in Sectoral Regulation: Electricity Regulation .............................................................. 70
RG 20: Elective Course on Sector Regulation- Micro Finance Sector ................................................... 73
RG21: Elective in Sectoral Regulation: Occupational Health and Safety .............................................. 76
RG22: Elective in Sectoral Regulation: Water Regulation.................................................................... 79
RG23: Research Design and Proposal for Thesis / Project ................................................................... 82
RG24: Regulatory Clinic-2 .................................................................................................................. 84
RG25: Advanced Themes in Regulatory Governance .......................................................................... 86
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I. About the School of Habitat Studies
The School of Habitat Studies is a fully integrated, multi-disciplinary school, undertaking

research, teaching and extension across a broad range of issues with regard to the ‘habitat’.
‘Habitat’ has been understood in its broadest sense as the built environment of human
settlements, along with the social environs in which they are situated as well as the natural
environment, including geophysical and biological. The School houses five centers including the
Centre for Urban Policy and Governance, Centre for Climate Change and Sustainability Studies,
Centre for Water Policy, Regulation and Governance, Jamsetji Tata Centre for Disaster
Management and the Centre for Science, Technology & Society. The School also includes the
“Facility on Urban Reforms in India’ and the ‘Facility on Regulatory Governance’ is ready to be
launched shortly.
II. Introduction to the Masters Programme in Regulatory Governance
The Center for Water Policy, Regulation and Governance (CWPRG) proposes to launch a
Masters Programme on Regulatory Governance from the academic year 2013-14. The
M.A/M.Sc. in Regulatory Governance (hereafter referred to as the program) is a pioneering
initiative of the Tata Institute for Social Sciences and the Prayas Energy Group, to offer the first-
of-its-kind master’s program on Regulatory Governance in the country.
Regulation is broadly understood as an effort by the state to address social risk, market failure or
equity concerns through rule-based direction of social and individual action.1Regulation or
Regulatory Governance is a well-developed discipline, and education programs are conducted by
universities around the world, including London School of Economics (UK), Monash University
(Australia), University of Pennsylvania and Harvard School of Law (USA), to name a few
prominent ones. However, in India,‘regulation’ as an area of study, is a sub-component of the
study of administrative law within law schools and public administration institutions. Being a
multi-disciplinary field, there is a need for an innovative approach to the study of the evolving
regulatory governance in the country, foregrounding the social and environmental dimensions.
With this background in mind, the new program seeks to provide a comprehensive understanding
of contemporary regulation theory and emerging regulatory practice models, both at the national
and international levels, with an innovative component of social and political rationales and
critiques, underpinning the entire program.The program equips the students with the
understanding of different perspectives, theoretical understanding, and practical skills to
effectively engage in and with regulatory activities and processes, taking on board critical social
1
Planning Commission Approach Paper adopts this definition of Regulation.
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dimensions such as equity, environment and sustainability concerns. It provides an opportunity
to build perspectives and skills within this complex discipline, through active learning from
skilled experts and practitioners in the field.
2.1 Rationale for the Programme by TISS

• In keeping with the TISS vision ofcontinually responding to the changing social realities
through development and application of knowledge, this new programme attempts to
respond to the rapid transformation in governance in recent years, through the introduction
of regulatory governance models. Although, no institution in India currently offers such a
program on Regulatory Governance, it is likely that such programs will be evolved by law
schools, management institutions and those offering public administration as a
specialization, in the near future. What would distinguish this program from the other such
potential programs will be its interdisciplinary approach and a clear focus on the social
dimensions of regulatory governance.
• The Planning Commission Working Group on Business Regulatory Governance in its report
examines the issue of building capacities and identifies the need for a “comprehensive
programme on capacity building of government, business and stakeholders” in the field of
regulatory governance2. The Planning Commission in its consultation paper on Regulation
of Infrastructure identifies the need for a separate department of Regulatory Affairs within
the Ministry of Personnel and Administrative Reforms3.
• The study on capacity building requirements of regulatory staff (published by Forum of

Indian Regulators) points towards the existing capacity-gap and hints at the potential for
capacity building through formal training4. Apart from the official regulators, the utilities,
companies and other entities that are regulated (i.e., regulatees), consumer groups and civil
society organizations will also have to develop regulatory capacities in order to effectively
respond and comply with the regulatory requirements.
• Regulation in its dominant neo-liberal form has been narrowly dealing with ‘economic’
regulation. The popular and the more mainstream understanding of Regulation promotes the
view that it creates greater space for markets to enter and compete, thus obscuring its critical
importance in ensuring equity, greater inclusion in policy and law making, and in protecting
rights.
2
Government of India, Towards Optimal Regulatory Governance in India, Report of the Working Group
on Business Regulatory Framework, 2011 (para 5.9.1, 2011) available at:
planningcommission.nic.in/aboutus/committee/.../wg_brf2103.pdf
3
Government of India, Approach to Regulation of Infrastructure, Planning Commission Paper, 2008,
available at:
infrastructure.gov.in/event_Regulation_Law_and_Policy_final.pdf
4
Forum of Indian Regulators (FoIR and Deloitte, Study on Assessing Capacity Building Requirements for
Regulatory Staff, 2012 available at: www.forumofregulators.gov.in/.../FOIR_Final%20Report_KV_0405
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• There is a need to develop ‘social’ perspectives to regulation. Similarly, in the current
situation there is a shortfall of ‘socially’ sensitive and skilled professionals in the field.
These gaps can be effectively filled by TISS by bringing in the social/ rights / pro-people
and pro-poor perspectives into an otherwise conventional approach of purely ‘economic’
regulation. It is also critical to incorporate the ‘environmental’ dimension also, as many
sectors, especially infrastructural sectors have serious environmental implications and the
current stand-alone instruments for ‘environmental protection and conservation’ are not
adequate to respond to these needs. For instance, the Environment Protection regulations in
the country do not adequately touch upon even the environmental dimensions of renewable
energy.
• It is important to note that the field of regulatory governance is rapidly evolving, with
several new regulatory authorities being proposed and many already in the pipeline.
Regulatory governance has several models across the globe. The models being adopted and
experimented within India requires close scrutiny and engagement. Regulatory Governance
models that are anti-democratic in nature need to be critiqued and resisted. It is critical that
this process of engagement and critique adopt a constructive approach, so as to influence the
development of an indigenous model that responds to our socio-political context. To evolve
such domestically sound regulatory governance models, the Tata Institute of Social Sciences
aspires to provide the necessary thought leadership at this very critical juncture.
2.2 Why engage with Regulatory Governance?

An oft repeated question during the development of the curriculum needs to be addressed and
explained here: why study and engage with Regulatory Governance? Is it too nascent a field to
be the subject of a postgraduate programme? Does it bring with it ideological biases that support
and promote a certain form of governance that may be inappropriate within our social-political
context?
We address a few of these critical questions here, so as to share and record our thoughts guiding
the development of the program structure and content of courses.
a) Still a nascent field – Regulatory governance in its new form is only a decade old in India.
However, the oldest institution, the Reserve Bank of India – typifying an independent regulation
model – predates independence. The new models of governance that are emerging are mired in
much confusion and chaos, particularly in language, conceptual thought and institutional
processes, as they seek to replicate and experiment with regulatory models elsewhere. It is into
this anarchy of thought and evolutionary change in the field of regulatory governance that we
choose to step in. It is a conscious choice to be a part of this exciting new journey, to not only
establish a new academic discourse but to also greatly influence the trajectory of its growth
through active participation. The Prayas team, which has been an active practitioner in this field
for several years, feels that the time is right for an engagement with discourse of regulatory
governance. It is our collective conclusion after much considered thought that this is the right
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time to influence the discourse on regulatory governance before emerging institutional models
are too set to respond to demands for (greater) democratization.
b) Why house this in TISS? Should regulatory governance be housed in TISS or would it find a
better fit within a law school or an institution for public administration. It must be noted here that
regulatory governance is a complex discipline requiring competencies in economics, law,
finance, policy, engineering, management, and public administration. TISS is primarily a social
science institution and established the School of Habitat Studies with the specific aim to
undertake research and teaching in a manner that is comprehensively multi and trans
disciplinary—straddling physical, engineering and social sciences as well as the disciplines of
law, planning, and humanities. This setting would allow for greater integration of the wide range
of disciplinesrequired to deal effectively with the issues in the field of regulatory governance. It
is also more suited to take forward the agenda of a people centric discourse on regulatory
governance. A law school or a management school housing such a programme would carry with
them an underlying disciplinary bias rendering the academic course too legalistic or too techno-
managerial in content.
c) Why use the neo-liberal language? The predominant language of regulatory governance is
viewed as being neo-liberal taking forward the agenda of a market model of growth. After much
deliberation, we recognize the need to adopt the language of the mainstream in order to ensure an
active intervention in transforming the regulatory governance spaces. We choose to ‘engage and
critique’; not ‘oppose and shun’. This approach is more similar to the critical academic approach
that engages, evaluates, and thus attempts to transform. To many, this may seem like an
audacious step, but it is an experiment that we choose to undertake. It is adequately safe but also
adequately innovative to bring about a transformation.
2.3 Scope of the Programme

The proposed programme provides a good combination of theoretical inputs and practical
capacity building, with an emphasis on social and environmental perspectives.
• It provides a basic overview of the history, principles, concepts, theory, policies,

institutions, and debates in the field of Regulatory Governance. This background enables
students to critically engage with the rapidly transforming developments in the field.
• The course equips the students with the understanding of different perspectives, theoretical
understanding, and practical skills to effectively engage in and with regulatory activities
and processes, taking on board critical social and environmental dimensions.
• It seeks to provide a comprehensive understanding of contemporary regulation theory and
emerging regulatory practice models, both at the national and international levels, with an
innovative component of social and political rationales and critiques, underpinning the
entire course.
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• It aims at building skills of students in a range of regulatory tools including the various
design and evaluation techniques and provides a clear understanding of processes
pertaining to regulatory governance including those involving interventions and advocacy.
• It adopts a cross-disciplinary approach with interfaces with and among disciplines of law,
economics, finance, history, engineering, management, politics, and public administration.
• It adopts a modular approach, with a built-in Post-GraduateDiploma for professionals who
are able to devote only one year to equip themselves with the theoretical and practical
knowledge of regulatory theory, analysis and processes, with an opportunity to complete
the masters after some gap.
• The elements of pedagogy adopted are diverse, ranging from (a) foundation courses (b)
perspective courses providing exposure to critical debates (c) skill building components (d)
exposure to field and (e) practical components.
• The programme will have a strong interface with practitioners and government agencies,
learning from their experiences on the field.
• It will also interface with current and future programmes offered by TISS.
2.4 Overall Purpose

The Masters in Regulatory Governance is a multi-disciplinary programme, which aims to
develop a cadre of professionals—who aresocially responsible and environmentally-conscious—
in the evolving field of regulatory governance. This programme is geared to serve the diverse
needs of the field of regulatory governance in India.5
2.5 Specific Objectives

The key objectives of this programme include:
a. It seeks to fill the knowledge and capacity gaps in the field of regulatory governance in the
country.
b. It aspires to evolve, engage and influence the academic discourse on regulatory
governance.
c. It aims to mould students to be good regulatory practitioners, who are also socially
responsible and environmentally conscious.
d. It seeks to indirectly support and provide for the specific needs of the field of regulatory
governance through knowledge products, innovative research projects and outreach efforts.
2.6 Student Intake

It is expected that the students from diverse disciplinary backgrounds ranging from economics,
engineering, law, public policy, public administration, management, finance, political science,
social work, bio-technology, pharmaceuticals, health and agriculture, to list a few.
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This clarity is very critical, as the nature, content, form, and field condition pertaining to the regulatory
governance in different countries is vastly diverse.
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It is expected that the first batch for the academic year 2012-13 will consist of about 20 students.
2.7 Career Paths for Students

This programme is designed to provide students a good mix of training in perspectives, concepts,
and theory of regulation, as well as practical component such as regulatory design and practice.
It will also impart training in professional skills and methods, especially those pertinent to the
field of regulatory governance. In addition, it will provide adequate opportunities for gaining
direct understanding of the field through field visits, field exposures, and optional internship.
With such an exposure to both the theoretical and practical components, the level of
employability of the students is expected to be very high. Students will be employed in
institutions and agencies from the burgeoning regulatory domain, ranging from government
bodies, independent regulatory institutions, private and public sector bodies, non-governmental
organizations and research centers.
2.8 Key Features

The key features of the programme are highlighted below
• Provides a comprehensive understanding of contemporary regulation theory and

emerging regulatory practice models;
• Adopts a multi-disciplinary approach and introduces core concepts in economic, legal,
accounting, finance and technical aspects, as relevant for regulatory governance;
• Creates opportunities for learning practical tools of regulatory processes from experts in
the field;
• Built with the cross-cutting theme of social and environmental perspective
• Most importantly, this programme is geared to serve the needs of the field of regulatory
governance in India.
III. Process of Curriculum preparation

In the initial phase, the faculty at TISS collaborated extensively with the Prayas, Pune team to
develop the curriculum development. Some external help was also sought in designing the
courses. In the next phase, it is proposed that we seek comments from experts on the overall
program structure as well as contents of individual courses in the program.
IV. Program Structure
4.1 Building Blocks of the Program

The program comprises of courses that can be categorized into different thematic building
blocks. The Theory and Practice courses are the two major pillars that support the entire program
structure. These two primary components can be further broken down into different components
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such as perspective courses, theory courses, skill-based courses, sectoral courses and so on.
Categorizing courses into these components is critical to ensure that adequate balance is
maintained between the various components or the building blocks. Each of the courses
contributes to one or more of these components. Each of the components is envisaged to play a
certain role in preparing the students for a career as regulatory-professionals.
The components identified for the program along with the weightage for the same in the form of
credits are given in Table 1. For the titles of courses in each of the components, please refer to
the Table 3. Also refer Table 4 for the detailed Course List.
4.2 Brief Explanation of Different Components and Lists of Courses
1. Foundation and Perspective Courses
• The courses in this group are expected to provide initial inputs in sociology, political
science, economics, and development experience of the country. In doing so, they are
also expected to help students develop sensitive and inclusive perspective in
understanding society as well as issues before society.
• The courses from this group are expected to help students develop perspectives on key
specific themes related to Regulatory Governance that often cut across different
disciplines and sub-sectors within the sector.
• The general foundation and perspective courses are common to all the master’s level
programs in the institute and taught at the institute level. These are known as FC I, FC II,
FC III, and FC IV.
• A set of foundation courses and perspective course that are specific to understanding
regulation is also introduced in the first semester.
• The courses will expose students to the conceptual, theoretical, and ideological debates
that should inform the thinking, policies, and practice in Regulatory Governance.
2. Concept and Theory Courses

• These courses introduce students to the evolution of regulation and its various forms, a
range of concepts, relevant theories, and practices from different disciplines that engage
with regulatory governance, such as law, public administration, engineering, economics
and finance, policy and governance.
• The theory courses rely heavily on literature from abroad as the development of
regulatory governance theory within the country is still nascent.
3. General Research Methods and Design
• The courses on research methods and design will provide focus primarily on the
qualitative and quantitative methods of research. The emphasis will be on general
research methods which will be applicable for regulatory studies as well.
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4. Analysis, Methods and Skills for Regulation
• A strong component of skill building is considered essential for two specific reasons.
First, the students within the programme come with diverse skill sets and require skill
building to undertake the tasks of a regulator or regulatee. Second, although there are
diverse sectoral conditions, certain common skills and tools are an essential cross-cutting
theme across sectors. For instance, the determination of tariff is a tool of regulation that
applies across sectors. Tariff determination and tariff analysis is a skill set that students
need to acquire in order to be able to engage effectively with regulatory governance.
5. Sectoral Regulation (Electives)
• Gradually building on the foundational blocks of the first semester, an introduction of

developments and concerns related to regulatory governance from different sectors are
introduced in the second semester. As the master’s program has an in-built two-semester
diploma program, it is thought necessary to provide the diploma students with the
sectoral inputs before they graduate at the end of the second semester. The introductory
sectoral course in the second semester is designed with this in mind. The Masters
students however, will build on this initial learning and gain a greater depth in
understanding of the sectors in the third and fourth semester. They will obtain a
specialization in more than one regulatory sector at the end of two years.
6. Multi Component Courses: Advanced Themes in Regulatory Governance
• This component will provide space for introduction and exposure to advanced and cross-
sectoral themes emerging in the field of regulation. The themes could touch-upon the
theory, concept or practice components. As such these themes could fall into any of the
other components listed here and hence are categorized separately as ‘multi-component
courses’.
7. Field Work and Other Practice Work
• This component offers an opportunity to students to gain practice through exposure,

experience and independent work. As part of practice, the students will undertake
independent research in the fourth semester. There are two outputs expected in the fourth
semester. The first is the research dissertation or project. Students interested in
academic work will undertake work on dissertation while students interested in solving
some concrete regulatory problems will undertake a project. An alternative of self-study
will be provided for students who would like to pursue study in specific area beyond the
conventional boundaries of research or project. This self-study will be more practice
oriented than research. The second output of independent work is a policy assignment.
Here the faculty will develop a terms of Reference (ToR) on some policy/ regulatory
analysis work and the students will undertake the work as an independent assignment,
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under the guidance of the faculty. This will provide the students an opportunity to gain
experience of undertaking and delivering on assignment-based professional task.
• Apart from the independent work, students will be also be provided opportunity to work
on live regulatory issues and processes in the form of ‘regulatory clinic’. The clinic will
be run by the faculty as an ongoing activity of participation and intervention in live
regulatory issues and processes. Students will be provided an option of participating in
the activities of the clinic in various capacities. The first year students will be provided an
opportunity to participate in some live regulatory processes, while second-year students
will be offered opportunity of substantive contribution in form of analysis and
intervention. The activities of the clinic and the opportunities for students will depend of
the status of ongoing live regulatory processes, the capabilities of the students and
availability of time and other resources with the faculty. Students undertaking activities
in the clinic, apart from the credited activities, will be offered certificate of participation
along with a remark in their year-end testimonials.
• Students will also undertake summer internship towards the end of the second semester.
Internship with professional organizations (government or non-governmental) will
provide opportunity to understand the different facets of the regulatory profession. It will
also allow students interact and connect with the professional networks in the field of
regulation. Internships can be taken-up with regulatory agencies, regulated utilities,
NGOs and other bodies associated with regulatory work.
4.3 Semester-Wise Distribution of Courses and Credits

• Table 1 presents distribution of the credits, both component-wise as well as semester-
wise.
• Table 2 presents the summary of overall distribution of credits for each semester
• Table 3 provides course-titles under each components in different semester
• Table 4 provides the course list for each semester along with the codes for each course
• The main objective achieved in the structure presented in the table is to distribute the
courses evenly across the semester, while retaining sequential order among the different
courses that is required by course content and logic of the program.
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Table 1. Semester-wise Breakup of Credits within Components
Components/ Building Semester Semester Semester Semester Total

No.
Blocks I II III IV Credits
1 Foundation and Perspective 9 9
2 Concepts and Theory 6 5 4 15
3 General Research Methods 2 2 1 5
4 Analysis, Methods and Skills 6 6 12
for Regulation
5 Sectoral Courses 5 6 11
6 Practice/ Field Work 1 1 8 10
7 Multi-component Courses 4 4
(Advanced Regulatory Themes)
Total Credits 17 19 18 12 66
Table 2. Semester-wise Break-up of Total Credits
Semester Credits
I 17
II 19
III 18
IV 12
Total 66
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Table 3. Courses in Each of the Components
Component Semester I Semester II Semester III Semester IV
• Foundation Courses - FC 1,
Foundation 2, 3, 4 (7 CR)
and • History &Perspectives on
Perspective Regulatory Governance (RG
3) (2 CR)
• Introduction to Public • Concepts and Theories in • Introduction to Social and
Policies: Concepts, Theory, Regulatory Governance (RG 6) (2 Environmental Regulatory
and Practice (RG 1) (2 CR) CR) Rationales (RG 15) (2 CR)
• Introduction to Indian • Economics for Regulation (RG 7) • Law for Regulation (RG 18) (2
Concepts
Legislative, Legal and (3 CR) CR)
and Theory
Administrative System (RG
2) (2 CR)
• Basics of Financial Analysis
(RG 3) (2 CR)
Research • Research Methods-1 (RG 5) • Research Methods-2 (RG 15) (2 • Research Design and Proposal for
Methods (2 CR) CR) Thesis / Project (RG 23) (1 CR)
• Regulatory Impact Analysis (RG • Instruments of Regulation-2
9) (2 CR) (RG16) (4 CR)
Analysis,
• Financial Aspects of Regulation • Regulatory Functioning: Process,
Methods
(RG 8) (1 CR) Procedures, and Activities
and Skills
• Instruments of Regulation-1 (RG (RG17) (2 CR)
for
10) (2 CR)
Regulation
• Basic Course on Regulatory Skills
(RG11) (1 CR)
• Introductory Course on Sectoral • Elective course on sectoral
Sectoral Regulation (RG 13) (5 CR) regulation 1, 2, 3(RG19-22) (6
Cr)
• Regulatory Clinic-1 (RG 14) (1 • Regulatory Clinic-2 (RG 24) (1 • Project or Dissertation or
Practice/ CR) CR) Self-study (RG26) (6 CR)
Field Work • Summer Internship(non-credit) • Policy Assignment (RG 27)
(2 CR)
• Advanced Themes in
Multi-
Regulatory Governance (RG
component
25) (4 CR)
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Table 4. Course List
Semester Course Code Course Title Credits

I
Part 1: Foundation Courses
FC 1 Understanding Society, Culture 2
and Identity
FC 2 Understanding Developing 2
Economies
FC 3 India’s Development Experience 2
FC 4 Introduction to Research 1
Methodology
Part 2: Introduction to Regulatory Governance

RG 1 Introduction to Public Policies: 2
Concepts, Theory, and Practice
RG 2 Indian Legislative, Legal, and 2
Administrative System
RG 3 History and Perspectives on 2
Regulatory Governance
RG 4 Basics of Financial Analysis 2
RG 5 Research Methods – I 2
II
Fundamentals of Regulatory Governance
RG 6 Concepts and Theories in 2
Regulatory Governance
RG 7 Economics for Regulation 3
RG 8 Financial Aspects for Regulation 1
RG 9 Regulatory Impact Analysis 2
RG 10 Instruments of Regulation – I 2
RG 11 Basics course on Regulatory 1
Skills
RG 12 Research Methods – II 2
RG 13 Introductory Course on Sectoral 5
Regulation
RG 14 Regulatory Clinic-1 1
Summer -- Summer Internship (non-credit, 0
Vacation non-mandatory)
15
Semester Course Code Course Title Credits
III
Advanced Courses on Regulatory Governance
RG 15 Introduction to Social and 2
Environmental Regulatory
Rationales
RG 16 Instruments of Regulation – II 4
RG 17 Regulatory Functioning: Process, 2
Procedures, and Activities
RG 18 Law for Regulation 2
RG 19 to 22 Elective in Sectoral Regulation I, 6
II, III (courses given in list below)
RG 23 Research Design and Proposal for 1
Thesis / Project
RG 24 Regulatory Clinic-2 1
IV RG 25 Advanced Themes in Regulatory 4
Governance
Independent Work
RG 26 Project or Dissertation or Self- 6
study
RG 27 Policy Assignment 2
TOTAL CREDITS(all semester) 66
List of Elective Courses
Semester Course Code Title of Elective Courses Credits

III RG 19 Elective in Sectoral Regulation: 2
Electricity Regulation
RG 20 Elective in Sectoral Regulation: 2
Micro Finance Sector
Occupational Health and Safety
Regulation
Water Regulation
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4.4 Brief Description of Individual Courses
This section provides introduction to the objective and contents of the taught courses.
RG 1: Introduction to Public Policies: Concepts, Theory, and Practice (2 credits, semester 1)
The course is aimed at enabling the students to locate the field of regulation within the larger
body of concepts associated with public policy and governance. This will act as the introductory
course for bringing clarity on conceptual, theoretical, and practical aspects of publicpolicies,
governance, and regulation, especially in the Indian context.
The course will comprise of introduction to the concepts of policy, public policy, policy analysis,
models and theories of policy making, implementation of pubic policies, governance and good
governance, brief introduction to regulation and regulatory governance. It will also provide
exposure to the field of policy advocacy.
RG 2: Indian Legislative, Legal and Administrative System(2 credits, semester 1)
This course introduces students to the legislative process, more particularly locating
administrative and rule making functions within the broader legal framework. It also introduces
students to regulation in the command and control model, juxtaposing it with the emerging forms
of regulatory models. It is designed to provide the base for understanding rule making, legal
interpretation, legal drafting and advanced courses in law, in the next few semesters.
The course content includes a broad introduction to the Indian legal system; Indian Constitution;
separation of powers and the administrative institutions; delegated legislation; administrative
adjudication and administrative tribunals.
RG 3: History and Perspectives on Regulatory Governance (2 credits, semester 1)
This course provides a basic overview of the history, both national and international, in
Regulatory Governance. The module will also provide a quick overview of the context within
which the regulatory institutions are being established in India. The history and perspectives will
provide students the foundation to engage with current debates on regulation.
The course content includes a broad overview of regulatory trends across the world; regulatory
literature from UK, USA, Australia, Europe and Latin America; an introduction to regulation
through international instruments by the WTO, UN agencies. A number of classes will be
devoted to introduction to the various perspectives, including critical perspectives, on Regulatory
Governance.
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RG 4 & RG 8: Basics of Financial Analysis and Financial Aspects of Regulation(2 &1 credit
respectively, sem. 1 & 2)
Financial management is one of the core functions of all forms of commercial and non-
commercial enterprises and development projects/ programs. Understanding regulation of such
enterprises and projects/programs requires basic understanding of various financial concepts and
tools. This course is aimed at acquainting the students with the basic concepts, terms,
methodologies and analytical tools used in project finance analysis. It will include basics of how
to examine the technical aspects of a typical industrial/ infrastructure project having a bearing on
its financial aspects, estimation of project cost, different sources / instruments of financing the
project, basics of costing and accounting concepts, assessing the financial viability of the project
and understanding financial statements like profit & loss account, balance sheet and cash flows.
Part 2 of the course will provide deeper insights of costing, accounting, balance sheet analysis.
RG 5 & RG 12: Research Methods – Part I & II (2 credits each, semester 1&2)
These courses are aimed at developing conceptual understanding and a skill-set on research
methods and tools applied in social sciences. The courses will comprise of the basics of
qualitative and quantitative research and other dimensions of research methodologies.
RG 6: Concepts and Theories in Regulatory Governance (2 credits, semester 2)
This course provides students the concepts and theories that underpin different regulatory
governance models. Although much of the theoretical texts are written with a certain social and
political context, every attempt will be made to understand these within the Indian context,
wherever relevant.
The course content will include understanding Regulation; definition of regulation; principles of
regulation; General Theories of Regulation (Public interest theories of Regulation; Private
interest theories of Regulation; Institutionalist theories of Regulation) and the issue ofRegulatory
Legitimacy and Democracy.
RG 7: Economics for Regulation (3 credits, semester 2)
The course is meant to provide the necessary background of various economic concepts and
analysis framework relevant to the field of regulation. The applications of the same will be
discussed in courses such as Financial Aspects of Regulation, Instruments of Regulation,
Regulatory Impact Assessment and courses on Sectoral Regulation. The course will include
basics of macro and microeconomics, public finance and institutional economics.
RG 10 & RG 16: Instruments of Regulation – Part I& 2 (2 & 4 credits respectively, semester 2
and 3)
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These courses aims at exposing students to and building skill set of the students in diverse set of
instruments of regulation. Instruments of regulation pertain to the tools and techniques employed
to achieve the regulatory objectives such as the different incentive and disincentive mechanism.
Apart from specific tools, the course will also focus on different approaches to regulation such as
self-regulation, co-regulation and meta-regulation, prescriptive regulation, performance-based
regulation, hybrid regulation.
The first part of the course will introduce the different typologies of the instruments/tools as
elaborated by different authors such as Christopher Hood, Lester Salamon, Kenneth Richards,
Van der Doelen, Gunningham and Grabosky, Parker and Braithwaite, McConnell and Enmore,
Daintith, Morgan and Yeung, Arie Freiberg. Introductory details of a selected typology (such as
the recent work of Arie Freiberg) will also be covered in the first part of the course.
Building on this foundation, the second part will focus on advanced techniques of some selected
and relevant tools such as tariff determination and regulation, contract regulation, licensing-
certifications and other authorization techniques, standard setting, and informational regulation.
RG 9: Regulatory Impact Analysis (2 credits, semester 2)
This course on Regulatory Impact Analysis or RIA aims at building capabilities of students to
design RIA studies and apply the same in the process of regulatory design and assessment. The
course will comprise of the various approaches and analytical methods of conducting RIA. The
focus will be on application of cost-benefit analysis and other analytical tools (some of these
tools will be taught in other courses such as the course on Financial Aspects of Regulation) for
designing and assessing regulations. Innovative tools such as multi-criteria analysis, systems
analysis, and distributional impact assessment will also be included in the course contents.
RG 11: Basic Course on Regulatory Skills (1 credit, semester 2)
This course seeks to equip students with the basic skills of drafting legal documents essential for
regulatory practice and functioning. It also seeks to equip students with advocacy skills. The skill
building component will enable students to be effective practitioners in the field of regulatory
governance.
The course content will include legal drafting (rules and legal submissions); legal Interpretation;
writing opinions and judgments; legal and policy advocacy and intervention skills.
RG 13: Introductory Course on Sectoral Regulation (5 credits, semester 2)
The aim of this course is to give exposure to students of the wide range of application of
regulatory theory and practice in different commercial and social sectors. The focus will on
coverage of the sectors at the preliminary level rather than the depth of the content in each sector.
The tentative list of sectors includes: electricity, environment, hydrocarbons (fossil fuel), labor,
land, micro-finance, transport, telecommunications, and water sector. The course will highlight
19
on the perspectives, challenges and experiences of regulation in each of this sector. This
introductory course will be followed by in-depth courses in the third semester on regulation in
some selected sectors.
RG 15: Introduction to Social and Environmental Regulatory Rationales (2 credits, semester

3)
The course will expose students to the social and environmental aspects of regulatory
governance. Although these aspects will be a running thread in all courses, this particular course
will focus on application of the social and environmental aspects in specific regulatory setting.
The course content will include Social Aspects of Regulation (Equality/ Discrimination; Equity
and Access; Labour Rights; Human Rights; Consumer Protection; Quality Management;
Bribery/Corruption) and Environmental Aspects of Regulation (environmental sustainability and
inter generational equity; ecosystem services; environment impact assessment).
RG 17: Regulatory Functioning: Processes, Procedures and Activities (2 credits, semester 3)
Due processes form an integral part of the regulatory legitimacy. This course is meant to
sensitize the students on the importance of different regulatory processes. This process view to
regulation will help in understanding the different facets of transparency and public participation
in regulation. Apart from the general procedural dimensions the course will also provide concrete
examples of regulatory processes such as the tariff determination process and license allocation
process. It will also comprise of models of consumers or user participation.
RG 18: Law for Regulation (2 credits, semester 3)
The course introduces students to the laws that have relevance to and impact regulation and
regulatory models across sectors. The course will provide the base for understanding components
of regulation that are guided by principles of corporate governance and the competition policy in
the country. It also equips students with basic knowledge of the contract law critical for
regulatory design and functioning. The course content will include evolution and issues in
corporate governance in India; corporate social responsibility; emerging issues in competition
and its relevance for regulation; Contract Act.
RG 19: Elective Course on Sectoral Regulation: Electricity Regulation (2 credits, semester 3)
The course aims at building advanced-level understanding of the theory and practice of
electricity regulation. The course comprises of the critical analysis of the evolution of electricity
regulation in India while examining future possibilities and challenges. The course focuses on
tariff setting, power purchase and capacity addition, transmission pricing and planning, consumer
service and monitoring performance, role of markets and measures to encourage transparency,
accountability and participation.
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RG 20: Elective Course on Sectoral Regulation: Micro Finance Sector (2 credits, semester 3)
Micro-Finance in general and micro credit in particular, as an instrument, is increasingly being

adopted by government as well as non-government organizations working on livelihood issues of
urban as well as rural poor. Micro credit is also one of the components of “Financial Inclusion”
program launched by Government of India. These instruments and institutions are and will be
catering to the financial needs of poor and the financially illiterate sections of society. The
Introductory Course in second semester (i.e. RG 13) will provide a bird's eye view of this sector
and identify emerging regulatory issues for this sector.
Whereas the Elective Course in semester three will include theoretical underpinnings of the
Micro Finance Sector, Evolution of this sector all over the world and in India, Implications of the
commercialization of this sector, present efforts to regularize this sector and acquainting with the
regulatory models in other countries.
RG 21: Elective Course on Sectoral Regulation: Occupational Health and Safety Regulation
(2 credits, semester 3)
This course provides an overview and challenges to regulation of occupational health and safety
for workers. The course explores the ‘command and control’ mode of regulation in the country.
The course content will critically examine the regulations that have an impact on OHS from both
a labor perspective and an environmental perspective.
RG 22: Electives in Sectoral Regulation: Water Regulation (2 credits, semester 3)
The course aims at building skills in various regulatory approaches and methods in or relevant to
the water sector. It comprises of regulatory methods applied for water tariff, allocation, pollution
control, water services, and water infrastructure. Special cases of regulation such as groundwater
regulation and regulation of public utilities will also be included. Apart from skill sets around the
tools and techniques of water regulation, the course will expose students to recent developments
related to regulation of water conflicts and water rights.
RG 23:Research Design and Proposal for Thesis / Project (2 credits, semester 3)
This course is aimed as a preparatory course for undertaking independent research in the fourth
semester. The course will focus mainly on the design elements of research such as literature
review, problem structuring and articulation, formulating research questions, identifying
appropriate methodology and logical connections within the various design elements.
VI. Fees and Deposits in Rupees
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VII. Details of Courses
Semester I Courses
RG1: Introduction to Public Policies: Concepts, Theory, and Practice
Course Title and Number Introduction to Public Policies: Concepts, Theory, and Practice
(RG 16)
Semester I
Course Design Team Subodh Wagle
Course Teacher (s) Subodh Wagle
Total Credits 2
Total Credit Hours 30
Rationale
The program in Regulatory Governance, though interdisciplinary in nature, is focused on the

policy and governance aspects. The program attracts students from various disciplines. N order
to prepare for a variety of course in the program, in the initial stage, these students need some
foundational understanding of different conceptual, theoretical, institutional, and practical
dimensions of the public policies and governance. This course is designed with this in mind as
the objective.
Objectives of the Course
• To introduce the students to different basic aspects of public policies, such as the
underlying concepts, definitions, models of public policy making, models of policy
implementation, policy advocacy
• To introduce students to instruments and techniques used for policy implementation
• To introduce students to the discourse around the concept of governance
Course Content
1. Basic Concepts related to the field of Public Policy (2 Hrs.)

Introduction to the Basic Concepts such as Power, Authority, Politics, State,
Sovereignty, Civil Society
2. Fundamental Aspects of Public Policies (2 Hrs.)
Introduction to different characteristics and aspects of the concept of public policy
3. Models of the Public Policy Making (6 Hrs.)
Introduction to different types of model of decision models (such as Rational,
22
Incrementalism, Mixed Scan, Garbage-Can) as well as models of policy-making
processes (such as Group, Elite, Political System, Process)
4. Governance Dynamics Model: How Policies Work Out in the Field (4 Hrs.)
Introduction to the model of the actual working of policy instruments as well as
governance agencies in the field, explaining governance failures
5. Policy Instrumentation and Evaluation (2 hours)
a. Role of instruments in public policy
b. Types of policy instruments
6. Policy Analysis and Evaluation (2 hours)
a. Policy analysis tools
b. Role of policy analysis in policy formulation
7. Introduction to Discourse on Governance (4 Hrs.)
a. Mainstream Discourse
b. Critiques and Criticisms
8. Policy Advocacy: Concepts and Practice (4 Hrs.)
Introduction to various concepts underlying the practice of policy advocacy as well as
introduction to the actual practice of the policy advocacy through a case study
9. Introduction to Regulatory Governance: Concepts and Institutions (4 Hrs.)
Brief Introduction to the new instruments of regulatory governance, viz., the
independent regulatory governance, especially to the underlying concepts, structures,
and procedures
Method of Teaching Lectures and presentations
Method of Assessment and • Class Test (30 %)

Weightage • End-Semester Exam (70%)
Essential Readings
1. Basic Concepts related to the field of Public Policy (2 Hrs.)

Presentations and Lecture Notes by Prof. Subodh Wagle (based on the book: Andrew
Heywood. Key Concepts in Politics. Macmillan)
2. Fundamental Aspects of Public Policies (2 Hrs.)
Presentations and Lecture Notes by Prof. Subodh Wagle (based on the books by
Thomas Dye (page 1-2) and James Anderson (page 1-6)
3. Models of the Public Policy Making (6 Hrs.)
Presentations and Lecture Notes by Prof. Subodh Wagle (based on the books by
Thomas Dye (pages 11-27) and James Anderson (pages 912, 18-24)
4. Governance Dynamics Model: How Policies Work Out in the Field (4 Hrs.)
Presentations and Lecture Notes by Prof. Subodh Wagle
5. Policy Instrumentation and Evaluation (2 hours)
a. Louise-Marie, Videc-Bemelmans, Rist Ray, Vedung Evert. 2003. Carrots,
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Sticks & Sermons: Policy Instruments and their Evaluation. Transaction
Publishers:USA – Chapter 1
b. Hood Christopher. 1983. The Tools of Government. The Machmillan Press:
UK. – Chapter 1
6. Policy Analysis and Evaluation (2 hours)
a. Dye Thomas. 1981. Understanding public policy. Prentice-Hall – Chapter 15
7. Introduction to Discourse on Governance (4 Hrs.)
a. Gisselquist, Rachel M., 2012, Good Governance as a Concept, and Why This
Matters for Development Policy, Working Paper No. 2012/30, UNU-WIDER,
World Institute for Development Economics Research
8. Policy Advocacy: Concepts and Practice (4 Hrs.)
a. Presentations and Lecture Notes by Prof. Subodh Wagle
9. Introduction to Regulatory Governance: Concepts and Institutions (4 Hrs.)
a. Presentations and Lecture Notes by Prof. Subodh Wagle
b. Levi-Faur David. 2010. Regulation and Regulatory Governance. Jerusalem
Papers in Regulatory Governance Paper Series. Working Paper No. 1
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RG2: Introduction to the Indian Legislative, Legal, and Administrative System
Course Title and Number Introduction to the Indian Legislative, Legal, and
Administrative System (RG 2)
Semester I
Course Developer/s RoopaMadhav
Course Teacher (s) RoopaMadhav
Total Credits 2
Rationale
This course introduces students to the legislative process, more particularly locating
administrative and rule making functions within the broader legal framework. It also
introduces students to regulation in the command and control model, juxtaposing it with the
emerging forms of regulatory models. It is designed to provide the base for understanding rule
making, legal interpretation, legal drafting and advanced courses in law, in the next few
semesters.
To provide an overview of the Indian Legal System.

To introduce students to the legislative process, more particularly locating administrative
and rule making functions within the broader legal framework.
To provide the foundation for understanding the legal aspects of regulation and its gradual
evolution in recent years.
Course Content
1. Overview of the Indian Legal System (5 hours)

o Brief historical evolution and outlining the major influences on legal content
and legal institutions in the country.
o The Indian Judiciary – an overview.
2. Introduction to the Indian Constitution and the legislative process (6 hours)
o Philosophy and key features of the Indian Constitution.
o Fundamental Rights and Directive Principles of State Policy
o Decentralisation
3. Federalism, Separation of Powers and Administrative Institutions (4 hours)
(NOTE: Course Contents 1 TO 3 constitute a one credit course jointly offered for
MPRG & MPWPG Courses)
4. Understanding delegated legislation (6 hours)
o Rule of Law; Principles of Natural Justice; Doctrine of Bias
o Acts and Statutes, Ordinances, Administrative directions, notifications,
25
circulars.
5. Administrative Adjudication and Judicial Review of Regulatory Decisions(4 hours)
6. Regulation in the command and control model (5 hours)
Method of Teaching Primarily lectures, discussions and reading original texts of

legislations and court judgements.
Method of Assessment and Written Exam (70 %)

Weightage Assignment (20 %)
Class participation (10 %)
Essential Readings
I. Overview of the Indian Legal System

• Kamala Sankaran and Ujjwal Kumar (eds), Towards Legal Literacy: An Introduction to
Law in India, OUP, New Delhi,2008 Chapters 2 & 4
• UpendraBaxi, “The Rule of Law in India”, 4 International Journal of Human Rights 6-
25 (2007)
II. Introduction to the Indian Constitution and the Legislative Process
• D. D. Basu, An Introduction to the Constitution of India, Prentice Hall, New Delhi,
Chapters 3 and 4.
III. Federalism, Separation of Powers and Administrative Institutions
• D. D. Basu, An Introduction to the Constitution of India, Prentice Hall, New Delhi,
Chapters 15 and 17.
IV. Understanding delegated legislation
• M.P. Jain, Parliamentary Control of Delegated Legislation, (6thEdn) 2007, Chapters 3
& 4.
• Sathe S.P, Administrative Law, 7th Edition, Butterworths, New Delhi, 2004, Select
Chapter 3 and 5.
• Government of India, Second Administrative Reforms Commission, 13th Report,
Chapter 6, Creating an Effective Regulatory Framework (April, 2009)
Additional Readings
• Kapur, Devesh and PratapBhanu Mehta, Public Institutions in India: Performance and
Design, Oxford University Press, Delhi, 2005.
• Hasan, Z., E. Sridharan, R. Sudarshan (eds.), India’s Living Constitution: Ideas,
Practices and Controversies, Permanent Black, 2009.
• Ramesh Aroa&RajniGoel,(2005). Indian Public Administration, VishwaPrakashan,
New Delhi.
26
RG3: History and Perspectives of Regulation
Course Title and Number History and Perspectives on Regulation (RG 3)
Semester I
Course Developer/s RoopaMadhav/Prof. Subodh Wagle
Course Teacher (s) RoopaMadhav/Prof. Subodh Wagle
Total Credits 2
Rationale
This course provides a basic overview of the history, both national and international, in
Regulatory Governance. The module will also provide a quick overview of the context within
which the regulatory institutions are being established in India. The history and perspectives
course will provide students the foundation to engage with current debates on regulation.
To introduce students to the origins of regulatory governance across the world.

To expose students to the different models of regulatory governance and their historical
evolution.
To introduce students to the various perspectives on regulation and the more current
debates and critiques on regulation.
To provide an overview of regulatory institutions in India.
Course Content
- Introduction to Regulation (4 hours)

- History of Regulation in different countries – UK, USA, Australia, Europe and Latin
America (12 hours)
- Perspectives on Regulatory Governance (8 hours)
- Introduction to Regulatory Institutions in India (6 hours) – Regulation through
departments and agencies (Command and Control Model); Statutory Independent
Regulatory Agencies; Self-Regulatory Authorities.
Method of Teaching Lectures, discussions, and guest lectures

Essential Readings
I. Introductory Readings
27
• Braithwaite, J., Coglianese, C., & Levi-Faur, D. (2007). Can regulation and
governance make a difference?,Regulation & Governance, 1: 1-7.
• Yeung, K., The Regulatory State, in Balwin, R., Lodge, M and Cave, M (eds)
Oxford Handbook of Regulation (2010) Oxford University Press
II. History of Regulation
United Kingdom
• Julia Black, Tensions in the Regulatory State, Public law, 2007 (Spring). pp. 58-
73.
• Moran, M. (2001). The Rise of the regulatory state in Britain. Parliamentary
affairs, 54(1), 19 –
• 34. (downloaded)
• Moran, M. (2003). The British regulatory state: High modernism and hyper-
innovation, Oxford: Oxford University Press.
United States of America
• Robert Rabin, Federal Regulation in Historical Perspective, 38 Stan. L. Rev.
1189 (1986) (downloaded)
• McCraw K. Thomas, Regulation in Perspective: Historical Essays, Harvard
University Press, Cambridge, 1981.
• McCraw K. Thomas (ed) Prohpets of Regulation: Adams, Brandeis, Landis&
Kahn.
Europe
• Majone, Giandomenico. 1997. From the positive to the regulatory state: Causes
and consequences of changes in the mode of governance. Journal of Public
Policy 17 (2): 139-167.
• Majone, G. (1994) 'The Rise of the Regulatory State in Europe', West European
Politics, Vol. 17, No. 3, pp. 77-101
III. Perspectives on Regulatory Governance

• Wilson, J Q (1980) The Politics of Regulation, New York, Basic, Ch 10 'The
Politics of Regulation': 357-94
• Hall, P and Taylor, R (1997) 'Political Science and the Three New
Institutionalisms' (1997) 44 Political Studies 936-57.
• Koelble, T, 'The New Institutionalism in Political Science and Sociology'
[1995] Comparative Politics 231-243.
• C. Veljanovski, ‘Economic Approaches to Regulation’ in R. Baldwin, M. Cave,
and M. Lodge (eds.), The Oxford Handbook on Regulation (Oxford, 2010)
Chapter 2
Additional Readings
• Macey, J (1992) 'Organisational Design and the Political Control of
Administrative Agencies' Journal of Law, Economics and Organisation 8: 93-
110
• McCubbins, Matthew, D, Roger G Noll, and Barry R Weingast, 1987
28
'Administrative Procedures as Instruments of Political Control' Journal of Law,
Economics and Organisation 3: 243-77
• Jordana, Jacint and Levi-Faur, David, (2005) Towards a Latin American
Regulatory State? The Diffusion of Autonomous Regulatory Agencies across
Countries and Sectors, International Journal of Public Administration, 28.
IV. Introduction to Regulatory Institutions in India

• Government of India, Second Administrative Reforms Commission, 13th
Report, Chapter 6, Creating an Effective Regulatory Framework (April, 2009)
29
RG4: Basics of Financial Analysis
Course Title and Basics of Financial Analysis (RG-4)
Number
Semester I
Course Development SanjeevChandorkar
Team
Course Teacher (s) SanjeevChandorkar
Total Credits 2
Rationale:
India is witnessing large investments in infrastructure, industrial as well as social. For various
reasons, the sectors which for decades being financed mainly through budgetary allocations are
being opened up for private sector participation. These developments, not only have a bearing on
the way in which these sectors are being financed, but are also being reflected in changes in the
related policies and emergence of regulatory structures for these sectors. Insights into “Basics of
Financial Analysis” are necessary not only for those who may tend to subscribe to the political
economic thoughts driving these developments, but even those who intend to oppose them and
also for those who endeavor to provide alternative models.
• To equip students with the basic concepts, terms, methodologies, mathematical formulas
being used in Financial Analysis.
• To equip the students with the insights of the issues in financial aspects of financing, policy
making and regulation for infrastructure as well as social sectors.
• To lay foundations for the students to take up advance course in the related subject in the
subsequent semester
Course Contents
Introductory lecture ( 2 Hours)
o Overview of the structure of the Course and significance of “Financial Analysis”
Assets ( 4 Hours)
o Technical Aspects, Estimation of Project Cost, Peculiarities of Infrastructure Assets
Means of Financing( 6 Hours)
o Capital Structure, Debt Vs Equity, Capital Market Concepts, Issues in FOREX
financing
Basic Cost and Accounting Concepts (4 Hours)
o Direct and Indirect Costs, Cost behavior pattern, Basic Accounting Concepts,
Introduction to Financial Statements ( 2 Hours)
o Profit & Loss A/c, Balance Sheet and Cash Flow
Operating Cycle & Working Capital Management: ( 2 Hours)
o Fixed Vs Current Assets; Peculiarities of short term finance, Components of Current
Assets
Time Value of Money and Cost of Capital (2 Hours)
o Theoretical understanding of the Concept, techniques, Use of Discounting Tables,
Basis for IRR / NPV, Viability Gap Funding, Estimating Cost of Capital, Factors
30
affecting cost of capital
Financial Assessment (6 Hours)
o Estimation of Projected Profitability, Appraisal Ratios: Profitability Ratios (DCF and
Non DCF) Different aspects of “viability”, Financial Assessment Ratios for
Infrastructure Projects.
Analysis of Financial Statements (2 Hours)
o Balance Sheet, Profit & Loss A/c, Ratio Analysis, Qualitative aspects of Annual
Reports
Method of Teaching Lectures, discussions and exercises
Method of Assessment • Class Test -I 50%

and Weightage • Class Test -II 50%
Essential Readings
(Relevant Extracts from the individual Chapters)
• Finance for Non-Finance Executives – by Dr Prasanna Chandra – McGraw Hill Publications

(Chapters 1,3,4,7 and 10)
• Projects -Planning, Analysis, Selection, Financing, Implementation and Review by DR
Prasanna Chandra (Chapters 5,6,7, 9, 18, 19 and 20)
• Financial Statements Analysis and Security Valuation -by Stephan Penman (Chapter 1 and 2)
• Financial Accounting -by DhaneshKhatri (Chapters 1,2,3 and 4)
• Fundamentals of Cost Accounting – by Lanen, Anderson and Maher (Chapters 2 and 3)
• Foreign Exchange, International Finance and Risk Management – by A V Rajwade – Published
by Academy of Business Studies (Chapters 2 and 3)
31
RG5: Research Methods – I
Course Title and Number Research Methods – I (RG5)
Semester I
Course Teacher (s) Dr. Lalitha Kamath and Ms. Divya Singh
Total Credits 2

The main objective of the course is to familiarize students with the most commonly used
qualitative research methods. The course will prepare them to utilize these methods in
their own research, and to evaluate the qualitative work that others have done.
Course Contents
1. Introduction to course (2 hrs)

2. Designing qualitative studies (4 hrs): How to think about Research Methods,
Sampling, Concepts, Designing qualitative studies, Discussion of how to develop a
proposal
Qualitative Techniques for data collection and analysis (12 hrs)
5. Participant/Direct observation, analysis of documents (2 hrs): Principles of
ethnographic field research; participant observer continuum; strategies for entering,
watching, listening and recording; exiting the field; maintaining a journal.
6. Interviewing (4 hrs):Interview format and sampling, Types of interviews, selecting
the respondents, the interview guide, setting up interviews, writing notes/maintaining a
diary, Ask how not why
7. Focused group discussions (2 hrs)
8. Participatory Research Methods (4 hrs): Transect walk, timeline, oral history
(biographical and historic methods), social and resource mapping, seasonal calendar,
institutional venn diagrams
9. The case study method(4 hrs)
10. Analysis and Interpretation (4 hrs): Discussion of analysis techniques: key
moments in time and strategy; Coding; Analytic memos, Identifying categories; going
beyond categories- finding what doesn’t fit
11. Grounded theory (2 hrs)
12. Reporting and representing the results of qualitative analysis (2 hrs)
Method of Teaching Lectures and classroom discussions
Method of Assessment Course participants will have to write a 20 - 25 page paper

and Weightage describing a field research project that they conduct utilizing
qualitative research methods (20%), and a research proposal
32
which they orally present in class (80%)
Essential Readings
• Ackroyd, S & John Hughes (1992), Data Collection in Context, New York:
Longman
• Hakim, C (1987), Research Design: Strategies and Choices in the Design of
Social Research, London: Allen &Unwin Publisher
• Kumar, R (2009), Research Methodology, Delhi: Dorling Kindersley (India) Pvt.
Ltd.
• Newby, T J & P A Ertmer (1997), Practical Research Planning and Design, New
Delhi: Prentice Hall of India, Private Limited
• Young, P V (1966), Scientific Social Survey Research, Englewood Cliffs:
Prentice Hall Inc.
33
Semester II Courses
RG6: Concepts and Theories in Regulatory Governance
Course Title and Number Concepts and Theories in Regulatory Governance (RG 6)
Semester II
Course Developer/s Prof. Subodh Wagle/ Roopa Madhav
Course Teacher (s) Prof. Subodh Wagle/ Roopa Madhav
Total Credits 2
Rationale
This course provides students the concepts and theories that underpin different regulatory
governance models. Although much of the theoretical texts are written with a certain social
and political context, every attempt will be made to understand these within the Indian context,
wherever relevant.
To introduce students to concepts and theories underpinning different regulatory

governance models.
To provide students an understanding of the various critiques of the regulatory governance
models.
To provide students a critical overview of the issues and concerns around the legitimacy
of regulatory governance models.
Course Content
• Understanding Regulation – definition of regulation; principles of regulation (6

hours)
• General Theories of Regulation (12 hours)
a) Public interest theories of Regulation (Theory and Critique)
b) Private interest theories of Regulation (Theory and Critique)
c) Institutionalist theories of Regulation (Theory and Critique)
• Regulatory Legitimacy and Democracy (8 hours)
a) Issues of political legitimacy of decisions by independent regulators
b) Democratization of contemporary regulatory models
c) Limits of regulatory governance
Method of Teaching Lectures, discussions
34
Essential Readings
I. Understanding Regulation (6 hours)

• Ian Bartle & Peter Vass Ian Bartle and Peter Vass (2007), ‘Self-regulation
within the regulatory state: towards a new regulatory paradigm?’ Public
Administration, 85:4, pp885-905.
• Ian Bartle and Peter Vass (2007), ‘Independent economic regulation: a
reassessment of its role in sustainable development’, Utilities Policy, 15:4,
pp261-269.
Definitions of Regulation
• Julia Black,'Critical Reflections on Regulation' (2002) 27 Australian Journal of
Legal Philosophy 1-37 and CARR Discussion Paper no. 17 (London: LSE,
2003)
Principles of Regulation
• Five Principles of Good Regulation, Better Regulation Commission (formerly
Better Regulation Task Force), UK
• The 1995 OECD Checklist for Regulatory Quality
• The 1997 OECD Recommendations on Regulatory Reform
• The 2005 OECD Principles for Regulatory Quality and Performance
Changing Patterns of Governance
• Fels, A., 1982, ‘The political economy of regulation’, University of New South
Wales Law Journal, 5: 29-60.
II. General Theories of Regulation (12 hours)

• Chapter 2 (Theories of regulation), Morgan, B., &Yeung, K. (2007) An
Introduction to Law and Regulation, Cambridge: Cambridge University Press
• Baldwin, R., & Cave, M. (1999) Understanding Regulation. Theory, Strategy
and Practice. New York: Oxford University Press
- Chapter 2 (Why regulate)
-Chapter 3 (Explaining regulation)
III. Regulatory Legitimacy and Democracy (8 hours)

• Extracts from Chapter 5 (5.5 Regulatory Legitimacy and Democracy; 5.6
Decentered Regulatory Legitimacy), Morgan, B., & Yeung, K. (2007)An
Introduction to Law and Regulation. Cambridge: Cambridge University Press.
• Majone, Giandomenico(2001) Nonmajoritarian institutions and the limits of
democratic governance: A political transaction-cost approach, Journal of
Institutional and Theoretical Economics 157:57-78.
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RG7: Economics for Regulation
Course Title and Number Economics for Regulation (RG 8)
Semester II
Course Developer/s Poonam Mehra/ Anne Josey
Course Teacher (s) Visiting Professor
Total Credits 3
Rationale
The course is meant to provide the necessary background of various economic concepts and
analysis framework relevant to the field of regulation. The applications of the same will be
discussed in courses such as Financial Aspects of Regulation, Instruments of Regulation,
Regulatory Impact Assessment and courses on Sectoral Regulation. The course will include
basics of macro and microeconomics, public finance and institutional economics.
To introduce the students to basic concepts in economics to further a nuanced

understanding of regulation, welfare and environmental issues.
To introduce key principles, theories so that they are able to apply basic economic
analysis to real life problems.
Some of these concepts will be used in subjects in forthcoming semesters and this series is
to ensure that all students are familiar with basic economic ideas despite their diverse
academic backgrounds.
Course Content
1. Micro Economics (20 hours)

a. Utility Theory and Consumer Demand (2 hrs)
b. Production, cost and Supply (2 hours)
c. Factors affecting demand and supply (1 hour)
d. Elasticity and its applications (1 hour)
e. Competitive Markets: Pricing and Competitive Strategy (2 hour)
f. Imperfect Competition and market power: characteristics and types of
monopoly, monopsony, monopolistic competition and oligopoly .Comparison
of different regimes. Market segmentation, Measuring market power (3hrs)
g. Price theory and different price regimes and its applications (2 hours)
h. Investment time and capital markets. (1 hour)
i. Equilibrium and Welfare. (1 hour)
j. Market Failure-types ,causes and alternatives to market failure (1 hour)
36
k. Private and social optimum (1 hour)
l. Resources, the environment and market failure. (1 hour)
m. Risk and Uncertainty (2 hours)
2. Public Finance (10 hours)

a. Public Goods-types and characteristics, quasi Public Goods and club goods,
Provisioning public goods (1hour)
b. Role of Government (0.5 hour)
c. Public Expenditure theories, evolution and role in India, Major Public
Expenditure Programs, Reforms and Financial Bailouts. (2 hours)
d. Taxation theories ,evolution and role in India, types of taxes, emerging trends
:GST, Environmental taxation ( 2 hours)
e. Fiscal Federalism-theories and Fiscal federalism in India (1.5 hours)
f. Role of CAG, Finance Commission and Planning Commission in India ( 1
hour)
g. Debt and Debt Management-theories, concepts, types of debt, India’s fiscal
position, efforts at mitigating fiscal deficit and internal debt accumulation. (2
hours)
3. Macro Economics (10 hours)

a. National Income, Accounting and Balance of Payments (2.5 hours)
b. Classical, Keynesian and Monetary perspectives on macroeconomic
phenomenon (2.5 hours)
c. Inflation-theories measurement and growth , Monetary Policy (1.5 hour)
d. Open economy, trade and aspects (2 hours)
e. Role of the Central Bank especially as a regulator (0.5 hour)
f. Role of Information and emerging macroeconomic thought (1hour)
4. Institutional Economics (5 hours)

a. Role of institutions in the performance of economies (1 hour)
b. Transaction cost economics: the contribution of Coase, extensions and the
governance of contractual relations (1 hour)
c. Institutional economics and regulation (1 hour)
d. New Institutional economics (1 hour)
e. History, Culture, Law and Economics: some perspectives (1 hour)
Method of Teaching Lectures, discussions, and exercises
Method of Assessment and • Assignment 60%

Weightage • Examination 40%
37
Essential Readings
1. Microeconomics
a. Daniel Rubinfeld and Robert Pindyck, Microeconomics, 8thed. ,Pearson, 2012,
Chapters 3 -6
b. Ibid, Chapters 14-18
2. Public Finance
a. Richard Abel Musgrave and Peggy B. Musgrave, Public Finance in Theory and
Practice, Mc-Graw Hill,1989, Chapters 3-5, 8-9.
b. Ibid, Chapters 28 and 29.
c. Ministry of Finance, Economic , Government of India,2011-12
d. Amaresh Bagchi, 50 Years of Fiscal federalism in India-An Appraisal, NIPFP
Working Paper,2003
e. C. Rangarajan and D. K. Srivastava, Dynamics of Debt Accumulation in India:
Impact of Primary Deficit, Growth and Interest Rate Economic and Political
Weekly, Vol. 38, No. 46 (Nov. 15-21, 2003), pp. 4851-4858
3. Macroeconomics
a. Brian Snowdon and Howard R. Vane, A Modern Guide to Macroeconomics: An
Introduction to Competing Schools of Thought, Brookfield: Edward Elgar, 1995,
Chapters 24, 26, 29 and 32.
b. Paul Samuelson, Economics, Tata McGraw-Hill Education, 2010, Chapter 29
4. Institutional Economics
a. Menard, Claude and Mary M. Shirley (eds), Handbook of New institutional
Economics, Dordrecht: Springer, 2005.
38
RG8: Financial Aspects of Regulation
Course Title and Number Financial Aspects of Regulation (RG8)
Semester II
Course Development Team Sanjeev Chandorkar
Course Teacher (s) Sanjeev Chandorkar
Total Credits 1
Rational
Part of the contents of this 1 credit course builds on the foundations laid in the “Basics of Project
Finance” delivered in the first semester and will identify issues in reconciling diverse objectives
like ensuring financial sustainability of the infrastructure projects safeguard “equity”
considerations. Further, when people from lower sections of society, majority of them being
financially illiterate, are being included in the mainstream financial sector, the students of
Regulatory Governance shall also be acquainted with the issues involved in its Financial Sector
regulation particularly from the common peoples' perspective.

To provide deeper insights of each of financial aspects of the regulatory governance.
To equip students with the skills used by the practitioners in the regulatory sector while
analyzing financial aspects of regulatory governance
To facilitate the students to take up more advanced courses in the related themes in
subsequent semester
Course Content
• Assets-II (2 Hours)
◦ Asset Classifications, Asset Valuation, Gold plating or padding the rate base.
• Means of Financing – II (2 Hours)
◦ FDI, FII, GDR, Forward Cover, Complexities of Secondary Market from Regulator's
point of view
• Advance Costing Methods and Accounting for Regulation-II (2 Hours)
◦ Allocation of costs, Marginal costs and Marginal Revenue, Accounting for
Infrastructure Regulation
• Operating Cycle & Working Capital Management -II (2 Hours)
◦ Tariff determination; Issue Network Industries; case study Network Industries :
• Financial Assessment-II (2 Hours)
◦ Risk Return relationship, Incentive regulation, ROE/ Cost of service,
• Indian Financial System (6 Hours)
◦ An overview of Indian Financial System, Financial Sector Regulation Architecture,
39
Peculiarities of financial sector regulation vis-a-vis any other infrastructure sector
regulation; Issues in Financial Sector Regulation, in general and specific to India
Method of Teaching Lectures, discussions, case studies and exercises
Method of Assessment and • Class Test -I 50%

Weightage • Class Test -II 50%
Essential Readings
(Relevant Extracts from the individual Chapters)
• Finance for Non-Finance Executives – by Dr Prasanna Chandra – McGraw Hill

Publications (Chapters 1,3,4,7 and 10)
• Projects -Planning, Analysis, Selection, Financing, Implementation and Review by DR
Prasanna Chandra (Chapters 5,6,7, 9, 18, 19 and 20)
• Financial Statements Analysis and Security Valuation -by Stephan Penman (Chapter 1
and 2)
• Financial Accounting -by Dhanesh Khatri (Chapters 1,2,3 and 4)
• Fundamentals of Cost Accounting – by Lanen, Anderson and Maher (Chapters 2 and 3)
• Foreign Exchange, International Finance and Risk Management – by A V Rajwade –
Published by Academy of Business Studies (Chapters 2 and 3)
• Financial Institutions and Markets -by Dr. L M Bhole and Jitendra Mahakud (Chapters
1,4 and 5)
• Accounting for Infrastructure Regulation- An Introduction – By Pardina, Rapti and
Groom, A World Bank Publication (Chapter 5 and 6)
• Regulatory Accounting Guidelines – Issued by OFWAT, British Regulator for Water
Sector ( 5 Regulatory Accounting Guidelines)
40
RG9: Regulatory Impact Analysis
Course Title and Number Regulatory Impact Analysis (RG 9)
Semester II
Course Designing Team Sachin Warghade, Subodh Wagle, SanjeevChandorkar,

RoopaMadhav
Course Teacher (s) Sachin Warghade
Total Credits 2
Rationale
There is an increasing trend towards ‘problem-solving’ and ‘design’ approach to policy

formulation. Regulatory impact analysis (or RIA) is gradually emerging as a field of study and
practice for analyzing and designing regulations. Various analytical tools (such as Cost-Benefit
Analysis, Participatory Tools) are being used for ensuring that the policy and regulations are
formulated with due understanding and analysis of the problem in hand and the alternatives
available for addressing the problem. Hence, it is found necessary to have an introductory
course on RIA.
• To develop capacities of students to design and conduct regulatory impact analysis (RIA)
using some of the most important analytical tools
• To enable students to comprehend and utilize the different types of statements or reports
based on regulatory impact analysis (RIA) in the process of regulatory decision and
research
• To enable students to develop ToR for different forms of regulatory analysis by assessing
the utility and scope of different types of RIA
Course Content
Part 1: Background to RIA (6 hours)

1. Introduction (2 hours)
a) Genesis, evolution and status of RIA and other forms of analysis
b) Scope and perspectives related to RIA, Role of RIA in regulatory reform and
regulatory decisions
c) Process of RIA: From problem definition to options assessment
2. Introduction to Approaches and Analytical Methods for RIA (4 hours)
a) Analysis Approaches: Expert-oriented Vs consultative/ participatory approaches,
Hard Vs Soft approach, Integrated Vs Fragmented/ partial approach, various decision
41
approaches (absolutist approach, incremental approach, feasibility-based approach,
intuitive balancing approach and other models of analysis and decision making)
b) Analytical methods: Benefit-cost analysis and its variations, distributional impact
assessment, risk assessment, sensitivity/ uncertainty analysis, multi-criteria analysis
Part 2: Methods of RIA (24 hours)
3. Problem analysis: identification of regulatory problem, causal analysis of problem (1
hour)
4. Analysis criteria/ indicators (1 hour)
a. Effectiveness and efficiency-based criteria
b. Equity-based criteria
c. Democratic process-based criteria
d. Legality-based criteria
e. Other social, cultural, environmental criteria
f. Criteria for analysis regulatory agencies
5. Regulatory instruments and design: Identifying alternative solutions from the available
tool-kit (1 hours)
6. Options Assessment-1 (conventional approaches and methods) (12 hours)
g. Benefit-cost analysis: Monetized and non-monetized valuations, quantified and non-
quantified valuations
h. Risk analysis
i. Sensitivity/ uncertainty analysis
j. Other methods such as check-lists based compliance analysis, stakeholder impact
analysis, administrative burden analysis
7. Options Assessment-2 (alternative approaches and methods) (4 hours)
k. Multi-criteria analysis
l. Systems analysis
m. Consultation/ participation-based analysis
8. Analyzing cases of RIAs in health, safety, environment, energy and other sectors (case
studies) (3 hours)
9. Conclusion (2 hours):
a) Planning and quality management of RIA
b) Limitations of RIA; Political critique of RIA; alternatives to conventional RIA:
Social and political perspective for RIA in developing countries
Method of Teaching Lectures, discussions, exercises

• Class participation 10%
Essential Readings
1. For Part 1 of the syllabus (Section 1 & 2):

o Kirkpatrick Colin and Parker David (eds.). 2007. Regulatory Impact
Assessment: Towards Better Regulation? UK: Edward Elgar - Chapter 1 & 2
o Stuart Shapiro. 2010. The Evolution of Cost-Benefit Analysis in U.S.
42
Regulatory Decision making. Jerusalem Forum on Regulation & Governance
Working Paper No. 5.
2. For Part 2 of the syllabus:
o For Section 3 & 4: Chapter 3 & 4 of Kirkpatrick & David (2007)
o For Section 6 & 7:
Office of Management and Budget. 2003. Circular A-4, Subject:
Regulatory Analysis, Washington, D.C.: US Government
Office of Management and Budget (2003) Regulatory Impact Analysis:
A Primer. Washington, D.C.: US Government
Mishan, E.J. 1977. Elements of Cost-Benefit Analysis. London : George
Allen &Unwin Ltd. – Chapter 1 to 4
o For Section 8:
Harrington Winston, Lisa Heinzerling, and Richard Morgenstern (eds).
2009. Reforming Regulatory Impact Analysis, Washington D.C.,
Resources for the Future Press. – Chapter 5 and 8
o For Section 9:
Chapter 4 & 9 of Kirkpatrick & David (2007)
Claudio M. Radaelli (2002) The Politics of Regulatory Impact Analysis
in the OECD Countries: Best Practice and Lesson-Drawing, Delivered
to the Workshop on Regulatory Impact Analysis in Comparative
Perspective, ESRC Programme on The Future of Governance, CARR,
LSE, London, 11 March 2002
43
RG10: Instruments of Regulation-1
Course Title and Number Instruments of Regulation-1 (RG 9)
Semester II
Course Design Team Sachin Warghade, Subodh Wagle, Sanjeev Chandorkar
Total Credits 2
Rationale
Policy and regulatory instruments are the means and mechanisms for achieving the given
objectives. The conventional approach to think about incentive and disincentive mechanisms.
However, regulatory instrumentation has developed into a much complex field with several
frameworks to tackle the instrumentation choice problem. It plays an important role in the
process of design of regulations. Hence, this course is introduced as an important foundation
for research and practical work on regulatory design. The current course provides an
introduction to the typology of tools, basics of different tools and their role in regulation. This
is followed by a second course in the subsequent semester that includes a detail treatment to
some of the important tools.
• To introduce the students to the comprehensive menu of options related to different

approaches and instruments of regulation
• To enable the students to compare the various approaches and instruments of regulation
Course Content
1. Introduction to rationales, institutions, instruments of regulation (2 hours)

2. Taxonomy of instruments (6 + 4= 10 hours)
a) Basic features and criteria of typology
b) Typologies by different authors, namely, Christopher Hood, Lester Salamon,
Kenneth Richards, Van der Doelen, Gunningham and Grabosky, Parker and
Braithwaite, McConnell and Enmore, Daintith, Morgan and Yeung, Freiberg (6
hours @ 0.5 hours per typology)
c) Special Typologies: (4 hours)
i. Pyramidal Approach (Responsive Regulation – Braithwaite)
ii. Mechanisms: self-regulation, co-regulation and meta-regulation,
prescriptive regulation, performance-based regulation
3. Basic features of instruments (approach, methods and tools) (12 hours @ 2 hours per
approach listed below)
44
a) Economic Approach
b) Transactional Approach
c) Authorizational Approach
d) Structural Approach
e) Informational Approach
f) Legal Approach
4. Comparative assessment of instruments (6 hours)
a. Advantages and disadvantages of various instruments
b. Instrument choice problem: Normative concerns, politics of instrument choice,
Advantages and disadvantages of various instruments
c. Instrument choice problem: Normative concerns, politics of instrument choice

Weightage • Examination 65 %
Essential Readings
1. For Section 2 of the course contents:

a. Frieberg Arie. 2010. Re-stocking the Regulatory Tool-Kit. Jerusalem: JPRG
Working Paper No. 15.
b. Baldwin Robert, Cave Martin and Lodge Martin. 2011. Understanding
Regulation: theory, strategy, and practice. Oxford University Press – Chapter 7
&8
c. Morgan, B. and Yeung, K. 2007. An Introduction to Law and Regulation.
Cambridge: Cambridge University Press. – Chapter 3
2. For Section 2, 3 and 4 of the course contents:
a. Frieberg Arie. 2010. The Tools of Regulation. Australia: The Federation Press –
Chapter 5 to 10
Additional Readings:
o Hood Christopher. 1983. The Tools of Government. London: Macmillan.

o Salamon, Lester M. 2002. The Tools of Government: A Guide to the New
Governance. New York: Oxford University Press.
o Ayres, I. and Braithwaite, J. (1992) Responsive Regulation: Transcending
the Deregulation Debate. New York: Oxford University Press.
45
RG11: Basic course on Regulatory Skills
Course Title and Number Basic course on Regulatory Skills (RG 12)
Semester II
Course Developer/s RoopaMadhav/Sachin Warghade/ Subodh Wagle
Course Teacher (s) RoopaMadhav/ Sachin Warghade/ Subodh Wagle
Total Credits 1
Rationale
This course seeks to equip students with the basic skills of drafting legal documents essential
for regulatory practice and functioning. It also seeks to equip students with advocacy skills.
The skill building component will enable students to be effective practitioners in the field of
regulatory governance.
To equip students with the basic skills of drafting legal documents essential for regulatory
practice and functioning.
To provide students with skill based training specific to their specialization in regulatory
governance.
To equip students with advocacy skills.
Course Content
•Legal drafting – Theories and Principles (12 hours)

- Legal Interpretation
- Writing opinions and judgements
• Advocacy and Intervention Skills (8 hours)
- What is Advocacy?
- Instruments of Advocacy
- Strategies of Advocacy
- Case Studies of Advocacy
Method of Teaching Writing and doing exercises
Method of Assessment and Exercises will be credited throughout the teaching of the
Weightage course.
Essential Readings
I. Legal drafting
• P.M.Bakshi, Introduction to Legislative Drafting, 5th Edition, N.M. Tripathi, Mumbai,
46
1995, Relevant extracts.
II. Advocacy and Intervention Skills
• Lecture Notes on Advocacy and Intervention Skills, Subodh Wagle,TISS faculty
47
RG12: Research Methods – II
Course Title and Number Research Methods - II
Semester II
Course Teacher (s) Prof. Lalitha Kamat
Total Credits 2
Total Credit Hours 30 hours
Course Contents
1. The Scientific approach (2 hours): The meaning, nature and scope of scientific
research; research and practice; ethics; role of research in policy formulation and
programme planning, implementation and evaluation
2. Conceptual foundation of research (2 hours): Understanding concepts, variables,

hypotheses and assumptions; Levels of measurement (nominal, ordinal, interval and ratio);
Introduction to reliability and validity- measures
3. The Research process: Goals and Needs as seen within system structures (2 hours):
Designing quantitative studies: Needs Analysis and setting standards; problem identification
and definition through data collection and analysis
4. The Survey Research Process (2 hours): Constructing a questionnaire; Scales and

scaling, index construction; Selecting sample
5. Questionnaire construction contd.: Coding and Data entry, Data analysis [using
Excel] (2 hours): Coding data, cleaning data, analyzing the data
6. Intro class to SPSS [export of excel spreadsheet into spss and usage for in-class
exercises] (2 hours)
7. Data processing techniques and the Visual display of quantitative information (2

hours): Visual display of quantitative information. Integrity of data. Structuring and sorting
data; tabular and graphical representation. Frequency distribution table, bar diagram,
histogram, frequency polygon, ogive Descriptive statistics (percentages).
8. Descriptive statistics – Measures of Central Tendency (2 hours)
9. Descriptive statistics – Measures of dispersion (2 hours): Absolute Measures: Range,

Quartile Deviation, Mean Deviation, Standard Deviation.Relative Measures: Coefficient of
Variation.
10. Inferential statistics - Correlation (2 hours): Statistics to analyze relationships:
48
allowing research questions and hypotheses dictate kind of measurement and specific
statistics used; Correlation, Bivariate data, bivariate frequency distribution, Covariance,
Coefficient of correlation
11. Inferential statistics – Regression (2 hours): Concept of Regression, Independent and

dependent Variables, Regression Coefficient.
12. Sampling (2 hours): Selection of sample: random and non-random sampling methods;
sample size
13. Visualizing distributions; Normal distributions (2 hours)
14 & 15. Hypothesis testing (2 hours): Chi-square test and t-test; ANOVA
Method of Teaching Lectures and classroom discussions
Method of Assessment and Assignment 1: Questionnaire construction and analysis – to

Weightage be done in small groups
Assignment 2: Individual review of quantitative data (50%
weight). This will be an in-class written test in the last
week of semester
Essential Readings
1. Bernard, H.R. (2000): ‘Social Research Methods: Qualitative and Quantitative
Approaches’ (307.2 B 49S, 99601)
1. For Section 1- Chapter 1 esp pages 8-9 and 18-20
2. Section 2 - Chapter 2 pages 30-58; Chapter 3 pg 66-82
3. Section 3 - Chapter 2 pages 46- 58; additional reading Chapter 4
4. Section 4 – Chapter 7, pg 227-262
5. Section 12 - Chapter 5
6. Section 13 - pg. 517-542
2. Krueckeberg and Silvers. Urban Planning Analysis: Methods and Models
1. Section 4 – Chapter 2 / pg 29-40
2. Section 5 - Ch 2 pg 41-48
3. Section 10 - Ch 2 pg 49-56
4. Section 14 & 15 - Ch 5 136-144
3. Nachmias and Nachmias( 2000): ‘Research Methods in Social Sciences’. Worth
Publishers
1. Section 4 - Ch 18
2. Section 10 - pg 351-374
3. Section 11 - pg 375-383
4. Edward Tufte The Visual display of Quantitative Information
1. Section 5, 6 - Ch 1
5. Das, N.G (2007): Statistical Methods
1. Section 5, 6 - Ch 4
49
2. Section 9
6. Weaver, David. Basic Statistical Tools
1. Section 8 - pg 50-53
2. Section 9 - pg 53-56
3. Section 10 - pg 62-77
4. Section 13 – pg 56-62
7. Understanding regression analysis: An Introductory guide
1. Section 11 - pg. 11-36
2. Section 14 & 15 - pg. 36- 53
Additional reading:
8. Nachmias and Nachmias (2000): ‘Research Methods in Social Sciences’ , Worth

Publishers (TISS Library, 307.2/ N 11R, 105096)
1. Section 1 - Chapter 1 esp pg 7-19
2. Section 2 - Pages 47-52
3. Section 11
9. Krueckeberg and Silvers. Urban Planning Analysis: Methods and Models
1. Section 3 - Ch 1 pg. 9- 21
2. Section 12 - Ch 4 pg. 96- 133
50
RG13: Introductory Course on Sectoral Regulation
Course Title and Number Introductory Course on Sectoral Regulation
Semester II
Course Design Team Ashwini Chitnis, Roopa Madhav, Sanjeev Chandorkar,

Shantanu Dixit, Sachin Warghade
Course Teacher (s) Ashwini Chitnis, Roopa Madhav, Sanjeev Chandorkar,

Shantanu Dixit, Sachin Warghade
Total Credits 5
Rationale
One of the ways to gain deeper understanding of regulatory governance in practice is to study
its application in various economic and social sectors. This sectoral approach to regulation will
help students to appreciate and develop skills of applying the theory and analytical tools in
real-world problems. The course on sectoral regulation is designed in two parts. The first part
delivered in this second semester aims at giving a wide exposure to students of the sectoral
applications of regulation. In the second part in the subsequent semester students will
undertake detail study of some representative sectors. These sectorals courses are not meant to
serve the purpose of specialization instead they serve the purpose of learning application of
regulation in some representative sectors.
• To introduce students to wide range of sectors where regulation plays an important role
• To give brief introduction to reforms, issues and challenges in regulation of different
sectors
• To facilitate the students to take up more detailed sectoral course on identical themes in the
next semester
Course Content
The course will cover wide range of sectors. Following are the sectors and brief course
contents for each:
Electricity Sector Regulation (10 hours)
- Introduction
- Techno-economic aspects of power sector and impacts on policy , planning
- Pre-reform Sectoral institutions and regulatory structure
- Reform period and changes leading up to Electricity Act 2003
- Electricity Act 2003 and its implications
51
Environment Regulation (8 hours)
- Environment Regulatory Institutions (Command and Control Mode) – Pollution Control
Boards (Central and State) – Environment Protection Act (4 hours)
- State Environment Impact Assessment Authority; Biotechnology Regulatory Authority Act
( 4 hours)
Hydrocarbons (fossil fuels) (6 hours)
- Oil & Gas sector-Overview, Sectoral Institutions and Regulatory Structure, pre-reform and
post-reform Changes
- Overview of coal sector- Overview, Sectoral Institutions and Regulatory Structure, pre-
reform and post-reform Changes
Labour (10 hours)

- Occupational Health and Safety (5 hours)
- Voluntary Compliance Codes (5 hours)
Land Regulation (8 hours)

- Regulation of Land Use and Land Markets (6 hrs)
a. Town Planning and Zoning Laws
b. Land Ceiling Laws
- Real Estate and Housing Regulatory Bills (2 hrs)
Micro Finance Sector (10 hours)
- Introduction to Financial products and services in retail sector (4 hrs)

a. Financial product and services for poor
b. Risks involved in delivering fund based products
c. Financial inclusion program of Government of India
- Issues to delivering financial products to the poor (4 hrs)
a. Brick & Mortar model of banking
b. Urban bias of Indian banks and their poor penetration
c. Issues of informal sector
- Changed Situation (2 hrs)
a. Policy for branch-less banking, business correspondent model, advent in technology
-hand held devices, satellite linked bank branches, scalable organizational models in
micro-finance sector.
Transport sector regulation (5 hours)
- Overview of the sector, its nature and structure

- Overview of Public transport planning & policy
- Introduction to regulatory authorities and their structure and roles
52
Telecommunications sector (8 hours)
- Introduction to the sector:

o Basic Techno-economic concepts in telephony, data communications and the
internet.
- Overview of the telecommunications sector in India:
o Pre NTP era and the incumbent operators,
o NTP 1994, NTP 1999,
o Department of Telecommunications,
o Regulation in the telecommunication sector (Role of TRAI),
o TRAI Act and further developments
- Important concerns of the sector:
o Unified Access Regime, Tariffs, Cross Subsidies and Universal Service
Obligation
- Evolution and Role of Competition in the Telecom Sector
- Emerging trends and issues in the sector
Water sector regulation (10 hours)

- Water Sector Reforms (2 hours)
a) Water policy and legal reforms in India (past developments, current reforms
including regulatory reforms, both surface and ground water)
b) International experiences of water reforms and regulation
- Challenges and Perspectives to Regulation (8 hours)
a) Challenges to Water Regulation: Characteristic features of water as a resource and
sector (public good, basic life-sustaining resource, natural monopoly, ecosystem-
connected), problems of regulation
b) Perspectives of water governance and regulation: Rights-based perspective, water
justice, common pool-resource, gender-perspective, community-based approach,
ecological-perspective, market-based perspective
c) Institutional/ organizational models and mechanisms of water regulation (India and
International): Self-regulation, community-based regulation, government-driven
regulation, IRA-based regulation, Hybrid regulation
d) Introduction to Instruments of Water Regulation: water tariff, allocation and
entitlements, service licensing and contract regulation, integrated river basin
planning
e) Experiences of water regulation in India and other countries
The respective course coordinators and teachers will decide on the emphasis to be given to
particular sectors. There might be new additions or other changes in the sectors selected
depending on the need of the class as well as the availability of the faculty.
Method of Teaching Lectures, discussions, case studies
Method of Assessment and Assignment 50%

Weightage Examination 50%
53
Essential Readings
Electricity
- N. Sreekumar and Girish Sant, Know your power: A citizens primer on the electricity
sector 2nd Ed, Prayas Energy Group,2006 (relevant excerpts of chapters)
Environment Regulation
- Making Sustainability Work: Best Practices in Managing and Measuring Corporate Social,
Environmental and Economic Impacts, Marc J. Epstein, Sheffield, UK : Greenleaf Pub. ;
San Francisco: Berrett-Koehler Publishers, 2008. (relevant excerpts of chapters)
Hydrocarbons
- Anil Jain and Anupama Sen, Natural Gas in India: An Analysis of Policy. Oxford Institute
for Enegry Studies,2011 (relevant excerpts of chapters)
Labour
- Jonathan A. Batten, Thomas A. Fetherston (Eds), Social Responsibility: Corporate
Governance Issues, Research in International Business and Finance, Volume 17, Elsevier
Science, 2003, Amsterdam. (Library code: 658.408/B32S/100950)
- Relevant Chapters: Why Governance and Social Responsibility Matters, Batten and
Fetheston
Microfinance
- Basics of Micro Finance – Presentation of Two Models –By Lopa Dasgupta- Published by
Dada Purav Research & Training Institute, Mumbai
- Report of the Committee on Financial Inclusion by Dr Rangarajan -Published by Planning
Commission, Government of India
- Building Inclusive Financial Sectors for Development – A report published by United
Nations
Telecommunications
- Daljit Singh, A Primer on Indian Telecommunication sector, Asian Institute of Transport

Development,2004
- TRAI Act 1997 and its amendments
Water
- Iyer Ramaswamy. 2009. Water and the Laws in India. Sage

- Wagle, S. and Warghade, S. 2009c. Water Sector IRAs and Institutional Reforms in India,
Proceedings of the National Workshop on Independent Regulatory Authorities (IRA) and
54
Related Institutional Reforms in the Water Sector in India held in Mumbai on August 28
2009. Pune, India: PRAYAS
Additional Readings
Electricity
- Electricity Act, 2003
- Madhav Godbole, Power Sector Reforms: No Takers, Economic and Political Weekly,
September 11, 2004.
- Electricity Bill, 2001: Many S
- Navroz Dubash. Independent Regulatory Agencies: A Theoretical Review With Reference
To Electricity and Water in India Economic and Political Weekly, October 4, 2004
Hydrocarbons
- Plan documents and reports by Planning commission

- PNGRB and transport-related Acts and policies
- Ashok Chawla committee report on Auction of Natural resources,2011
- NCAER and IDFC, Report of the expert group on Indian railways, Policy Imperitives for
reinvention and growth.
- Ajeet Choudhary, Deepak Dangayach, Prashant Dwivedi, Tarun Sharma and P. Venu
Madhav, A report on the road sector in India,2001,IIM-A
- S Morris (ed),India Infrastructure Report: Issues in regulation and industry structure,
Oxford University Press,2001
- Ashok Sreenivas and Girish Sant, Shortcomings in governance of natural gas sector,
Economic and Political Weekly, July 25,2009
- Ashok Sreenivas, Girish Sant, Daljit Singh ,Emerging Issues in the Indian Gas Sector: A
Critical Review, Economic and Political Weekly, August 25,2007
Labour
- Indicators for Social, Ethical and Environmental Performance: Using Systems Analysis-
Based Social Choice Theory for Social Welfare Measurement, Sardar M.N. Islam and
Matthew F. Clarke
- In Search of Society: Redefining Corporate Social Responsibility, Organisational Theory
and Business Strategies, Jan Jonker
Microfinance
- Existing Legal and Regulatory Framework for the Micro-finance Institutions in India – A
report bt SADHAN and M-CRIL
- Microfinance in India: Issues, Problems and Prospects: A Critical Review of Literature by
S L Shetty Academic Foundation
- Why Doesn't Micro-finance Work- A Destructive Rise of Local Neoliberalism- by Milford
55
Bateman – Zed Books -London
- Micro-credit -Myth Manufactured -Edited by Farooque Chowdhary -published by Shrabon
Prokashani -Dhaka, Bangladesh
- Confessions of a Micro-finance Heretic -by Hugh Sinclair -published by Collins Business
Telecommunications
- TRAI orders, regulations and notifications

- Planning commission reports and papers
- Nirvikar Singh, Telecommunications, The concise Oxford companion to Economics in
India, Kaushik Basu and Annemie Maertens (ed.)
- Rafiq Dossani, Telecommunications Reform in India, Quorum Books 2002
In addition to above
Lecture Notes by TISS Faculty and Prayas Team
56
RG14: Regulatory Clinic-1
Course Title and Number Regulatory Clinic-1 (RG15)
Semester II (spread over semester 1 and 2, but evaluated in semester 2)
Course Design Team Sachin Warghade, Roopa Madhav, Sanjeev Chandorkar
Course Teacher (s) Sachin Warghade, Roopa Madhav
Total Credits 1
Total Credit Hours Field work
Rationale
The practice of regulatory governance can be seen in form of regulatory proceedings of various
governmental agencies as well as participation of non-governmental agencies and individuals.
It is important for students to gain real-life exposure and experience to such proceedings and
the back-office work being done for such regulatory actions. Hence, a short field work
component is added in form of regulatory clinics. Although clinics are meant for actual
interaction and servicing of real clients, in this course the purpose will be to enable students to
understand the working environment of the clients.
• To provide exposure to real-life situations and issues related to regulatory governance
Course Content
• Observe live processes related to regulation conducted by official government bodies or

non-governmental organizations:
o Government bodies: Witness regulatory process such as regulatory hearing or
consultation conducted by different regulatory agencies. The regulatory agencies
could be: Sectoral Utility Regulators (e.g. Electricity Regulatory Commission),
Information Commissions, Human Rights Commissions, District Consumer Forums
and State Consumer Disputes Redressal Commissions, High courts (cases related to
sectoral regulation) and other such bodies.
o Non-governmental Organizations: Witness processes related to regulation
conducted by NGOs in form of consultations, awareness campaigns and other
research or advocacy activities.
• Observe a regulatory process that provides interface with the official regulators will be the
preferred mode of the clinic. However, in absence of such opportunities the students can
observe a process by NGOs having direct relevance to a regulatory issue and process.
57
• Study plan and outputs:
o Reading of background material (such as petitions, literature on the regulatory
issue) associated with regulatory process to be observed.
o Developing a template for observation and analysis of the regulatory process to be
witnessed. The template will include identification of specific topics of observation
and analysis (e.g. transparency, participation, quality of substantive arguments,
intervention strategies). This will comprise of procedural as well as substantive
aspects of the regulatory issue involved.
o Writing a ‘Regulatory Observation and Analysis Note’ (ROAN) of about 4 pages
for each of the regulatory process witnessed. The ROAN should comprise critical
analysis of the procedural and substantive content as well as recommendations for
improvements.
o The scope and number of such ROAN will be decided by the respective faculty
depending on the intensity of the regulatory process observed
• Regulatory clinic will be an ongoing activity that will comprise of various forms of
outreach and dissemination work of the faculty with the involvement of the students.
Additional efforts and initiatives undertaken by students as part of this clinic, in 1st and 2nd
semester, to contribute substantively in a regulatory process will be acknowledged and
considered for evaluation under ‘Regulatory Clinic-2’. Students who undertake extra
efforts and initiatives, other than those considered for the credits, will be offered with a
separate certificate of participation in the regulatory clinic and will also be provided with a
remark in their year-end testimonials.
• Mechanisms other than those mentioned here for conducting the clinic can be developed by
the respective course teacher in accordance with the fulfillment of the course objective. In
absence of opportunities to observe the ongoing regulatory process the students may also
undertake small field visits to projects, programmes or community places to understand the
ground-level issues of regulatory design, implementation and evaluation.
Method of Teaching Field exposure

Weightage
Essential Readings
(no specific readings other than the documents of the regulatory proceedings/ process to be
observed)
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Semester III Courses
RG15: Introduction to Social and Environmental Regulation Rationales
Course Title and Number Introduction to Socio-Political and Environmental
Regulatory Rationales (RG15)
Semester II
Course Developer/s Roopa Madhav/ Prof. Subodh Wagle
Course Teacher (s) Roopa Madhav
Total Credits 2
Rationale
The course will expose students to the socio-political and environmental rationales or
objectives of regulatory governance. It will enable students to adopt these aspects as a running
thread in taking forward their understanding and analysis of regulatory governance.
To expose students to the social and environmental objectives of regulatory governance.

To enable students to adopt these as a running thread in taking forward their
understanding and analysis of regulatory governance.
Course Content
1) Socio-Political Objectives of Regulation (20 hours)
• Equality/ Discrimination
• Equity and Access
• Labour Rights – no child labor; health and safety; freedom of association;
• Human Rights
• Consumer Protection; Quality Management
• Transparency; Accountability; Participation (Democratisation of Regulatory
Governance)
• Bribery/Corruption
2) Environmental Objectives of Regulation (15 hours)
• Environmental sustainability and inter generational equity

• Environmental Impacts
• Eco-system services
59

Essential Readings
I. Socio-political Objectives of Regulation

• Primarily lecture notes prepared by TISS faculty.
• Eric Windholz & Graeme A. Hodge, Conceptualising Social and Economic
Regulation: Implications for Modern Regulators and Regulatory Activity, JPRG Paper
No. 49, February 2013.
II. Environmental Objectives of Regulation
• Lele, Sharachchandra M, 1991, "Sustainable Development: A Critical Review." World
Development 19:6, pp. 607-21.
• Millennium Ecosystem Assessment (MEA), United Nations, 2005
• EIA Manual, Ministry of Environment and Forests, Government of India
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RG16: Instruments of Regulation-2
Course Title and Number Instruments of Regulation-2 (RG 16)
Semester III
Total Credits 4
Rationale
This course is in continuation of the introductory course in the first semester. This second part
of the course on regulatory instruments serves as an advanced course that caters to the
complexities of design, implementation and evaluation of some of the important instruments.
This course thus prepares the students to face the practical and professional challenges of
working on actual regulatory tools and mechanism.
To develop understanding and skills related to design of some of the key instruments of
regulations
Course Content
1. Advanced Price Regulation (15 hours)

a. Pricing theory and practice (Marginal-cost pricing, Ramsey pricing, Pricing for
distributive justice, Pricing for regulating monopoly)
b. Cost and Cost-plus pricing
c. Price capping (single and multiple product/s and service/s)
d. Market-based pricing
e. Other methods: Mixed-methods, negotiated settlements, Pricing-cum-quality
regulation, Special pricing situations (e.g. peak-load pricing)
f. Example of electricity and water tariff regulation
2. Advanced Tradable permits (4 hours)
a. Entitlements and permits
b. Trading system
c. Examples of water trading and pollution permits
3. Advanced Contract regulation (8 hours)
a. Construction contracts
b. Service Contracts
c. Procurement Contracts
4. Advanced Licensing and other authorizations (8 hours)
a. Licensing
b. Registrations
c. Certification and accreditation
61
5. Other instruments of regulation: Standard setting and quality regulation (4 hours),
competition regulation (entry-level regulation & others, 6 hours), advanced informational
regulation (4 hours), Structural Regulation (2 hours), Legal Regulation (4 hours) (total 20
hours)
6. Enforcement strategies (4 hours)
7. Normative and political dimensions of instrument design (cross-cutting issue in above
contents and separate concluding lecture) (1 hours)

Essential Readings
1. For Section 1 of the course contents:

• Kahn Alfred. 1988. The Economics of Regulation: Principles and Institutions. MIT.
– Chapter 2, 4, 7 (60 pages)
• Lowell Alt. 2006. Energy Utility Rate Setting. Chapter 9, 10, 11 and 13 (25 pages)
• George A. Raftelis. 2005. Water and Wastewater Finance and Pricing: A
Comprehensive Guide. CRC Press Book – Chapter 10 to 14 (65 pages)
2. For Section 2 to 7 of the course contents:
• Frieberg Arie. 2010. The Tools of Regulation. Australia: The Federation Press –
Chapter 5 to 10
• OECD. 2001. Domestic Transferable Permits for Environmental Management:
Design And Implementation
• BakovicTonci, Tenenbaum Bernard and Wolf Fiona. 2003. Regulation by contract.
Washington DC: The World Bank
• Robert Goldscheider (ed.). 2002. Licensing Best Practices: The LESI Guide to
Strategic Issues and Contemporary Realities.
• Magat, W. A., and Viscusi, W. K. 1992. Informational Approaches to Regulation.
MIT Press, Cambridge, MA London.
• Paul R. Kleindorfer’ and Eric W. Orb. 1998. Informational Regulation of
Environmental Risks. Risk Analysis, Vol. 18. No. 2.
• Mehta Pradeep. 2011. Evolution of Competition Laws and their Enforcement: A
Political Economy Perspective. Routledge
• Peter J. May and Raymond J. Burby. 1998. Making Sense Out of Regulatory
Enforcement. LAW & POLICY, Vol. 20, No. 2, April 1998
Additional Readings
• Schmidt Michael R. 2000. Performance-Based Ratemaking: Theory and Practice.
62
Public Utilities Report Inc. USA
• Pedell Burkhard. 2006. Regulatory Risk and the Cost of Capital: Determinants and
Implications for Rate Regulation. Springer
• Crew Michael A. 1994. Incentive Regulation for Public Utilities. Springer
63
RG17: Regulatory Functioning: Process, Procedures and Activities
Course Title and Number Regulatory Functioning: Process, Procedures and Activities
(RG 17)
Semester III
Course Design Team Ashwini Chitnis, Shantanu Dixit
Course Teacher (s) Ashwini Chitnis, Shantanu Dixit
Total Credits 2
Rationale
Regulatory governance provide greater emphasis on ‘due-process’ with the objective of

democratization of the governance processes and outcomes. Hence, a specific course is
introduced to understand the practical aspects of functioning of regulatory and other related
bodies with specific focus on the processes, procedures and activities.
To introduce the students to practices in the regulatory space so as to enable them to

intervene and participate in the regulatory process.
To exposite the role of the regulator, the space for regulation while exposing the students
to the political dimension of the regulatory practice.
To familiarise the students with the actors involved in the regulatory process and studying
the spaces which they create and operate to influence the sector.
To initiate dialogue about regulatory processes to make them more effective while
analysing evidence from India and other countries.
Course Content
1. Introduction to regulatory procedures:

a. Appointment process: elected versus appointed regulators
b. Transparency Accountability and Participation related provisions in the
regulator’s functioning: Conduct of business regulations, reasoned orders,
record of proceedings, pre-publication of regulations, placing regulations before
legislation and public hearings.
c. Appeal against regulatory orders: process and experience
2. Important regulatory processes

a. Tariff revision
b. License allocation and revocation
c. Consumer welfare related issues, safety and service quality
64
3. Models for enabling consumer participation
a. Consumer participation models :theory and practice in other countries
b. Consumer participation models in India
c. Public proceedings
4. State and the Regulator relations

a. Autonomy of Regulators
b. Directives to regulator by State and vice-versa
c. Regulatory politics: examples from Gas sector, TRAI, Water regulator in
Maharashtra
5. Regulatory process as a means of sector democratization

a. Spaces created through regulatory process for improving service and consumer
welfare
b. Regulatory process as an opportunity for improving consumer education and
awareness
Method of Assessment and • Assignments 60%

Essential Readings
• Brown, A. C., Stern, J., Tenenbaum, B., & Gencer, D. (2006). Handbook for
Evaluating Infrastructure Regulatory Systems. World Bank.Acts and Conduct of
business regulations of various regulators
• Lodge, M. (2004). Accountability and Transperancy in Regulation:critiques doctrines
and instruments. In J. Jordana, & D. Levi-Feur, The politics of regulation:instituitions
and regulatory reforms for the age (pp. 124-142). Edward Elgar Publishing.
• Innes, J., & Booher, D. (2005). Reframing Public Participation: Strategies for the 21st
Century. Institute of Urban and Regional Development, UC Berkeley.
Additional Readings
• Kirkpatrick, C., Parker, D., & Zhang, Y. F. (2004). Regulatory Impact Assessment in
Developing and Transition Economies :A survey of current practice. Centre On
Regulation and Competition,Working Paper Number 83.
• Ogus, A. (2002). Comparing regulatory systems: institutions, processes and legal
forms in industrialised countries. Working Paper No.35 Centre for Regulation and
Competition.
• TERI. (2010). Framework for Effective Consumer Grievance Redressal System.
Ministry of Urban Development ,Government of India.
• Sappington, E. (2005). Regulating Service Quality: A Survey. Journal of Regulatory
Economics , 123–154
• Bernstein, M (1955) ‘Regulating Business by Independent Commission.’ , Princeton
University Press
• Berry W.D (1982) ‘Theories of regulatory impact: the roles of the regulator, the
regulated, and the public’, Review of Policy Research 1: 436–441.
65
• Giraldi F.,Maggetti M.(2010) ‘The independence of regulatory authorities,’Handbook
On The Politics Of Regulation Edited by David Levi Faur Chapter 14 Edward Elgar
Publishers
• Larsen A., Pedersen L.H, Sørensen E.M and Olsen O.J(2005), ‘Independent
Regulatory Authorities in Europe’ Presented to SESSA Conference on Regulation,
Bergen.
• Nixon, D. C. (2001). Appointment delay for vacancies on the federal communications
commission. Public Administration Review, 61, 483-492.
• Nixon D., Bentley, R. (2006) Appointment Delay and the Policy Environment of the
National Transportation Safety Board, Administration and Society
• Planning Commission (2008) ‘Approach paper to Regulation of Infrastructure’,
Government of India
• Quast T (2010) ‘Do Elected Public Utility Commissioners Behave More Politically
than Appointed Ones?’Sam Houston State University Department of Economics and
International Business Working Paper Series
• Rao S,(2003)Report of Pre-Qualification Procedure for the Appointment of Vice
Chancellors in Indian Universities, National Institute of Educational Planning and
Administration
• Rao, S. L.( 2002) “The Political Economy of Power.” Rajiv Gandhi Institute for
Contemporary Studies Working Paper Series No. 34. New Delhi, India.
• Rao, S. L. 2004. Governing Power: A New Institution of Governance: The Experience
with Independent Regulation of Electricity. Delhi: TERI Press.
• PFC and Planning Commission Reports
• Studies and Reports Commissioned by the Forum of Regulators
• Making spaces, changing places, Andrea Cornwall, Institute of Development Studies
Oct 2002
• Prayas, Energy Group (2003), A Good Beginning but Challenges Galore: A Survey
Based Study of Resources, Transparency, and Public Participation in Electricity
Regulatory Commission in India. Pune: Prayas, Energy Group.
• Dubash, N. K., & Rao, N. (2007). The Practice and Politics of Regulation-Regulatory
Governance in Indian Electricity. Macmillan India Ltd.
66
RG18: Law for Regulation
Course Title and Number Law for Regulation (RG 19)
Semester III
Course Developer/s Roopa Madhav/ Shantanu Dixit
Total Credits 2
Rationale
The course introduces students to the laws that impact regulation and regulatory models across
sectors. The course will provide the base for understanding components of regulation that are
guided by principles of corporate governance and the competition policy in the country. It also
equips students with basic knowledge of the contract law critical for regulatory design and
functioning.
To introduce students to the laws that impact regulation and regulatory models across
sectors.
This introductory course will provide the base for understanding components of regulation
that are guided by principles of corporate governance and the competition policy in the
country.
It also equips students with basic knowledge of the contract law critical for regulatory
design and functioning.
Course Content
I. Corporate Governance and Regulation

1) Evolution of Corporate Governance in India
2) Introduction to Companies
o Meaning, Classification and Formation of Company, Promotion and Incorporation of
Companies
o Memorandum and Article of Association
o Directors; Members: Shareholders
o Meetings of Company – Kinds of Meetings, Rules of Meeting, Voting
o Capital – Share and Debentures
o Winding Up
3) Issues in Corporate Ownership and Control
o Board Governance
o Responsibilities of Board Members
67
o Agency Problem and Role of Independent Directors
o Protection of Minority Shareholders
4) Financial Reporting – Board Member’s Perspective
o Role of Audit and other Committees
5) Disclosures
o Disclosure Requirements; Reporting Requirements; Related Party transactions
o Compliance conditions of the listing agreement with respect to corporate
governance.
6) Enterprise Risk Management
7) Strategic Alliances, Mergers and Acquisitions
8) Corporate Social Responsibility
II. Competition Law and Regulation

1) Introduction to Competition Policy and Evolution of Competition Law
2) Indian Competition Law –
Evolutions - MRTP; Competition Act, 2002
- Regulation of Abuse of Dominance in India
- Regulation of Agreements in India
- Regulation of Combinations in India
- Powers and functions of Competition Commission
3) Emerging Issues in Competition Law
- IPRs and Competition Law
- Cross-border issues in Competition Law
- Business strategy and Competition Law
III. Regulation and Contract Law

- Nature and Classification of Contracts
- Essential elements of a valid contract – (a) Offer and Acceptance; (b) Valid
Consideration; (c) Capacity to Contract; (d) Valid Agreements
- Performance and Discharge of Contract
- Breach of Contract – Meaning and Remedies
- Other Concepts in Contracts: Guarantee; Indemnity; Surety; Agency
Method of Assessment and Written Paper (80 %) and Viva (10 %)

Weightage Class participation (10 %)
Essential Readings
I. Corporate Governance and Regulation

• Chakrabarti, Rajesh; Megginson, William L.; Yadav, Pradeep K. (2007) : Corporate
governance in India, CFR working paper, No. 08-02, http://hdl.handle.net/10419/41393
• Vikramaditya Khanna, “Corporate Governance in India: Past, Present and Future”
(2009)
II. Competition Law and Regulation
68
• Vinod Dhall ed., Competition Law: Concepts and Practices Relevant for India (2007)
• Report of the Working Group on Competition Policy (Planning Commission of India,
2007)
III. Regulation and Contract Law
• Avatar Singh, Law of Contract, Eastern Book House, Lucknow, 2000, Chapters 1, 2
and 3.
69
RG19: Elective in Sectoral Regulation: Electricity Regulation
Course Title and Number Elective in Sectoral Regulation: Electricity Regulation (RG 19)
Semester III
Course Design Team Shantanu Dixit, Ashwini Chitnis
Course Teacher (s) Shantanu Dixit, Ashwini Chitnis
Total Credits 2
Rationale
Electricity is one of the first utility sector where independent regulation was established. Since
then there has been comprehensive development of the regulatory framework in the sector. It
involved regulation of private as well as public power producers, transmitters and suppliers.
Hence, a course on electricity regulation will help students to grasp the regulatory aspects of a
typical commercial utility.
To examine provisions under the electricity act, national level policies and national, state
regulations with respect to concerns such as tariff setting, power purchase and capacity
addition, transmission pricing and planning, consumer service and monitoring
performance, role of markets and measures to encourage transparency accountability and
participation
To critically evaluate the evolution of electricity regulation in India while examining
future possibilities and challenges.
To learn from experiences of developed and developing nations in the field of electricity
regulation
To understand the emerging role of the private sector and understanding its regulation
To study the role of renewable energy and energy efficiency programs
Course Content
1. Tariff regulation
a. Provisions as per Electricity Act 2003, national policies and regulations on tariff
regulation
b. Actual practice and experience of tariff setting
c. Challenges faced in India and possible innovations
2. Power purchase planning and capacity addition
a. Types of generation: merchant, captive, private and regulated
b. Bidding guidelines ,standard bidding documents and its implications for
governance
70
c. Issues and developments relating to capacity addition and power purchase
3. Performance and consumer service
a. Provisions and regulations to ensure efficiency improvements
b. Provisions to protect consumer interest
c. Compliance to regulations and laws and other consumer service issues in India.
d. Rural Electrification: mandate, progress, achievements and concerns.
4. Transmission planning and pricing
a. Planning and pricing :Concepts and theory
b. Regulations and Provisions for transmission planning and pricing
c. Trends in Transmission planning and pricing
5. Transparency, accountability and participation
a. Legal spaces and provisions to ensure Transparency, accountability and
participation
b. Impact of these spaces and future implications
6. Competition and markets
a. Open access-policies, regulations ,current status and future potential
b. Power exchanges and bilateral trading - policies, regulations and current status and
future possibilities
c. Issues related to electricity market operations in India
7. International experience of electricity regulation
a. Evolution of electricity regulation in developed and OECD nations
b. Lessons and experience for developing nations
8. Renewable energy
a. Issues and Developments: Technical, economic and regulatory
b. Instruments and Applications: Renewable Purchase Obligation,feed-in tariffs,
Renewable Energy Certificates
c. Future potential and emerging trends
9. Private sector regulation in power
a. Mumbai, Delhi and Odisha experience
b. Achievements and Challenges in private sector regulation
c. Franchisees and PPPs-effectiveness and regulation
10. Emerging trends
a. Smart grids
b. Demand side management
Method of Assessment and Assignment 60%

Weightage Examination 40%
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Essential Readings
• Electricity Act,2003
• Ministry of Power, National Tariff Policy, Government of India,2006
• Ministry of Power National Electricity Policy, Government of India.2005
• N.Sreekumar and Girish Sant,Know your power: A citizens primer on the electricity
sector 2nd Ed, Prayas Energy Group,2006
Additional Readings
• Various state and central level regulations and tariff orders
• Gayatri Gadag, Ashwini Chitnis and Shantanu Dixit: Transition from MoU to
competitive bidding: Good take off but turbulence ahead, Discussion Paper, Prayas
Energy Group,2011
• S.L Rao (ed.),Powering India: A decade of policy and regulation, Academic
Foundation,2011
• Alok Kumar and Sushanta K. Chatterjee, Electricity Sector in India: Policy and
Regulation, Oxford University Press,2012
• Ravindra Kadam,Ashwini Chitnis and Shantanu Dixit, Consumers Guide for Electricity
Services,Prayas Energy Group,2010.
• Jaime Millan, Power Sector Reform in Latin America: Accomplishments, Failures and
Challenges, Economic and Political Weekly, December 10,2005
• AnjulaGurtoo and Rahul Pandey, Power Sector in Uttar Pradesh: Past Problems and
Initial Phase of Reforms, Economic and Political Weekly, August 4,2001
72
RG 20: Elective Course on Sector Regulation- Micro Finance Sector
(refer next page)
73
Course Title and Elective Course on Sector Regulation- Micro Finance Sector
Number (RG20)
Semester III
Course Development Sanjeev Chandorkar
Team Teacher (s)
Course Sanjeev Chandorkar
Total Credits 2
Rational
Many developing countries, including India have adopted “micro-finance” as an
instrument for mainstreaming hitherto excluded sections of the society in the financial
sector. Because of multitude of agencies involved in these activities compounded by lack
of coherence among the regulating entities the poor people are being rendered vulnerable
to malpractices in the sector.
Micro-finance, will continue to be in vogue for years to come and has a potential to affect,
adversely or beneficially, the lives of millions of families in our country. This underlines
the need to step up efforts (academic, research, field activism) to safeguard the interests of
the poor people.
• To sensitize the students towards the issues being faced by the poor people, the
customers of micro-finance products, in the absence of pro-active regulatory
oversight.
• To equip the students with insights on the structural as well as regulatory issues
prevalent in the micro-finance industry.
Course Content
Theoretical Underpinning relevant to the Micro-finance Sector (6 Hours)

• Role of “Credit” in individuals' economic development; “Moral Hazard” and
“Adverse Selection” issues to be dealt by the lender; Financial Requirements of the
poor; formal and informal financial markets.
Evolution of financial products and services aimed at poverty alleviation ( 6 Hours)

• Government of India programmes aimed at helping poor, Financial Inclusion
programme of GoI, Differences in the issues involved in urban and rural borrowers;
Evolution of Micro-Finance Industry in India (4 Hours)

• Evolution of Self Help Groups(SHGs); Bank-SHG link programme; Private sector
led Micro-Finance Institutions(MFIs); Statistical Profile of Micro Finance Sector;
Implications of Commercialization of Micro-finance Sector ( 4 Hours)

• Discarding developmental role by MFIs, brief case studies of evolution of few
Indian MFIs; Crisis in the state of Andhra Pradesh;
Regulatory Issues of Micro-finance Sector (6 Hours)
74
• Structural difficulties in regulating micro-finance activities; Difficulties due to
multiple and overlapping regulatory jurisdiction, Malegaon Committee Report;
Draft Micro-finance Regulatory and Development Bill, 2012 and its critique
Micro-finance regulatory practices in other countries (4 Hours)

• US Sub-prime crisis, crisis proneness of performance driven business models of
financial intermediaries; Models being practices in Latin American and/or African
countries.
Method of Assessment • Class Test -I 50%
and Weightage • Class Test -II 50%
Essential Readings
(Relevant Extracts from the Chapters)
Basics of Micro Finance – Presentation of Two Models –By Lopa Dasgupta-
Published by Dada Purav Research & Training Institute, Mumbai (Chapters 1 to 5)
Micro Finance_Perspectives and Opeartions_Indian Institute of Bankers_McMillan
Publications (pages 55 to 73)
Report of the Committee on Financial Inclusion by Dr Rangarajan -Published by
Planning Commission, Government of India (Chapters 3 and 4)
Commercialization of Micro-finance in India : Working Paper by Prof.
M.S.Shriram, IIM Ahemedabad (15 pages)
Existing Legal and Regulatory Framework for the Micro-finance Institutions in
India – A report bt SADHAN and M-CRIL ( 70 pages)
Microfinance in India: Issues, Problems and Prospects: A Critical Review of
Literature by S L Shetty Academic Foundation (Chapters 4,5 and 6)
Why Doesn't Micro-finance Work- A Destructive Rise of Local Neoliberalism- by
Milford Bateman – Zed Books -London (pages 28 to 59)
Micro-credit -Myth Manufactured -Edited by Farooque Chowdhary -published by
Shrabon Prokashani -Dhaka, Bangladesh (Pages 77 to 102 and 201 to 226)
Confessions of a Micro-finance Heretic -by Hugh Sinclair -published by Collins
Business (pages 215 to 238)
75
RG21: Elective in Sectoral Regulation: Occupational Health and Safety
Course Title and Number Elective in Sectoral Regulation: Occupational Health and
Safety (RG 21)
Semester III
Course Developer/s Roopa Madhav
Total Credits 2
Rationale
This course provides an overview and challenges to regulation of occupational health and
safety for workers. The course explores the ‘command and control’ mode of regulation in the
country. The course content will critically examine the regulations that have an impact on OHS
from both a labour perspective and an environmental perspective.
a. To introduce students to the command and control mode of regulatory governance.

b. Examine the key concepts and ideas that inform occupational health and safety in the
country, with a view to examine the nature of the regulatory framework, its effectiveness
and the need for reform
76
Course Content
1) Occupational Health and Safety in India – Overview and the challenges of Regulation.
2) ILO on OHS
o Convention 155 on Occupational Safety and Health and the Working Environment;
o Convention 161 on Occupational Health Services;
o Convention 167 on Safety and Health in Construction;
o Convention 176 on Safety and Health in Mines;
o Convention 184 on Safety and Health in Agriculture;
o Convention 187 on the promotional framework for Occupational Safety and Health
3) Regulation of OHS in India
o Indian Constitution
o Labour Law and OHS
(i) Factories Act, 1948;
(ii) Mines Act, 1952;
(iii) Dock Workers (Safety, Health and Welfare) Act, 1986;
(iv)Plantation Labour Act, 1951;
(v) Dangerous Machines (Regulations) Act, 1983;
(iv) Radiological Protection Rules,1971;
(v) Workmen’s Compensation Act and Employees State Insurance Act
o Environmental Law and OHS
(i) Environment (Protection) Act and Rules which prescribe standards for noise
pollution, management of bio-medical waste, management of hazardous wastes.
4) Regulation of OHS for informal workers
Method of Assessment and Written Paper (80 %) and Viva (10 %)

Weightage Class participation (10 %)
Essential Readings
I. Overview of OHS in India
• S.C. Srivastava, Occupational Health of Workers in India, 31 Banaras Law Journal

(2002) 11-42.
II. ILO on OHS
• International Labour Office. 2004. Global Strategy on Occupational Health and Safety:
Conclusions adopted by the International Labour Conference at its 91st Session, 2003.
Geneva, Switzerland.
III. Regulation of OHS in India
• Report of the Working group on Environment & Occupational Health, Planning

Commission, Tenth Five Year Plan, August, 2001.
77
IV. Regulation of OHS for informal workers
• Forastieri, V. 1999. Improvement of Working Conditions and Environment in the

Informal Sector Through Safety and Health Measures. International Labour Office
(ILO). Geneva, Switzerland.
http://www.ifwea.org/@Bin/148785/1999ImproveConditionsThroughHS.pdf
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RG22: Elective in Sectoral Regulation: Water Regulation
Course Title and Number Elective in Sectoral Regulation: Water Regulation (RG 22)
Semester III
Course Design Team Sachin Warghade, Subodh Wagle
Total Credits 2
Rationale
Water is an important resource that serves multiple purposes with diverse values attached. It
has social, economic, environmental, cultural as well as entertainment value. Understanding of
water regulation allows the students to appreciate and comprehend the challenges and
strategies of regulation in a highly complex yet every-day environment. This course provides
that opportunity by dealing with the regulatory problems, strategies and tools applied to water
sector.
• To enable students to apply the theory, concepts and methods of regulation to water sector
• To develop understanding of the regulatory concepts and methods applied to water sector
Course Content
1. Introduction to Instruments of Water Regulation (2 hours)

a. Typology of instruments
b. Regulatory reforms in India (MWRRA Act and other state laws on water
regulation)
2. Normative Frameworks for Water Regulation (objectives of regulation) (1 hours)
a. Water rights and equity
b. Water efficiency
c. Community water management
3. Water tariff regulation (6 hours)
a. Economics and politics of tariff regulation in water
b. Tariff methodology and regulatory measures
c. Tariff regulation in India
d. International experiences of tariff regulation
4. Regulating water access and allocation (4 hours)
79
a. Right to water, allocation and access
b. Water allocation policies in India
c. Water entitlements and trading
5. Water pollution and quality control (2 hours)
a. Polluter pays principle and other disincentive mechanisms
b. Tradable pollution permits
c. India and international experiences
6. Regulating water services and service providers (4 hours)
a. Challenges in regulating public and private services
b. Licensing and contracting of services
c. Service standards
7. Water infrastructure regulation (project regulation) (2 hours)
a. Project review and approval mechanisms
b. Financial, social and environmental regulation of projects
8. Water planning (Integrated River Basin Planning) (2 hours)
a. River-basin and planning approach to management and regulation
b. Regulatory role of river basin planning
c. India and international experiences
9. Groundwater Regulation (3 hours)
a. Challenges in groundwater regulation
b. Groundwater laws in India
c. Regulating groundwater extraction and recharge: instruments and achievements
d. India and international experiences
10. Emerging issues in water regulation in India (4 hours)
a. Water conflicts and regulation
b. Right to water and regulation
c. Regulation of public utilities
d. Regulating PPPs and Private Companies
e. Autonomy and Accountability of IRA
f. Democratization of regulatory processes
g. Politics of water regulation

• Class Participation 10%
Essential Readings
o For Section 1 and 2:

a. Prayas. 2012. Notes on Design of Water Regulations. Pune
80
b. Government of Maharashtra. 2005. Maharashtra Water Resources Regulatory
Authority Act.
o For Section 3:
a. MWRRA. 2009. Approach Paper for Bulk Water Tariff Regulation. Maharashtra
b. George A. Raftelis. 2005. Water and Wastewater Finance and Pricing: A
Comprehensive Guide. CRC Press Book – Chapter 10 to 14 (65 pages)
o For Section 4 -10:
a. PRAYAS. 2009b. Independent Water Regulatory Authorities in India: Analysis and
Intervention, Compendium of Analytical Work by PRAYAS (2006-2009). Pune,
India: PRAYAS
b. Lecture notes
81
RG23: Research Design and Proposal for Thesis / Project
Course Title and Number Research Design and Proposal for Thesis / Project (RG 23)
Semester III
Course Design Team Subodh Wagle
Course Teacher (s) Subodh Wagle
Total Credits 1
Rationale
Students of the master’s programs are expected to work on a thesis, research project, or
assignments involving research work involving significant time and efforts. The first step in
such an effort is to prepare a comprehensive research proposal, after working out a manageable
but well articulated research design. This course is aimed specifically to prepare students for
these two tasks. It is also aimed at helping students develop relevant skills of designing
research projects and preparing proposals for research projects, which will be useful for their
future work. As there is one or more separate course(s) covering research methods and
techniques, this course does not cover these aspects.
• To introduce to students various terms and concepts that are foundational for research
designs and research projects
• To introduce students to frameworks and procedures for developing research designs and
proposals for research projects
Course Content
Section 1: Introduction to Basic Concepts and Terms (2 Hrs.)
• Terms include: Research Design, Research Methodology, Research Methods, Research

Tools / Techniques, Process of Research, Research Plans, Problem Statement
Section 2: Developing Research Design (8 Hrs.)
• Developing Research Problem and Problem Statement

• Evolving Research Questions
• Deciding on Research Methods and Research Techniques / Tools
82
Section 3: Developing and Presenting Research Proposal (5 Hrs.)
• Different Elements of the Research Proposal

• Practical Tips for Writing Research Proposal
• Preparing and Delivering Presentation on Research Proposal
Method of Teaching • Class Lecture and Presentation

• Discussion on Case Examples
Method of Assessment and • Assignment: Submission of the Research Proposal
Weightage (90%)
• Class Participation (10%)
Essential Readings
Section 1:
• Notes of TISS Faculty

• Kothari, C. R. (2006). Research Methodology: Methods and Techniques. New Delhi:
New Age International Publishers [Chapter 1: “Research Methodology: An
Introduction”]
Section 2:
• Kothari, C. R. (2006). Research Methodology: Methods and Techniques. New Delhi:

New Age International Publishers [Chapter 2: “Defining the Research Problem”,
Chapter3: “Research Design”]
• “Part I: What is Research Design?” available at:
http://www.nyu.edu/classes/bkg/methods/005847ch1.pdf
• Hernon and Schwartz (2007) “What is a problem statement?” Library and Information
Science Research 29 (2007) 307–309
• Eliis and Levy (2008) “Framework of Problem-Based Research: A Guide for Novice
Researchers on the Development of a Research-Worthy Problem” Informing Science:
The International Journal of an Emerging Transdiscipline Volume 11, 2008, pp. 17 to
23
Section 3:
• Key Elements of Research Proposal, Available at:

http://www.bcps.org/offices/lis/researchcourse/key_elements.html
• Van Evera (1997). Guide to Methods for Students of Political Science. Chapter 4 and 5
• Notes by TISS Faculty
83
RG24: Regulatory Clinic-2
Course Title and Number Regulatory Clinic-2 (RG 24)
Semester III
Course Design Team Sachin Warghade, Roopa Madhav, Sanjeev Chandorkar,

Subodh Wagle
Course Teacher (s) Sachin Warghade, Roopa Madhav
Total Credits 1
Total Credit Hours Independent work
Rationale
This course is in continuation of the part one of the course in semester two. In this course the
focus will be on providing field exposure to students in form of actual engagement in certain
substantive aspects of regulation. This is necessary for the students to develop understanding
of the field reality and gain experience of actual substantive contribution.
• To expose the students to the challenges and opportunities of engaging and contributing in
live regulatory issues and processes
Course Content
• Students will make a substantive contribution in an issue in which there is some ongoing
regulatory process or in an issue which can be taken for future possible regulatory
intervention. Following can be the modes of contribution:
o In Collaboration or Support of outside Organizations: The contribution can be done
in collaboration, association or to support an outside non-governmental or
governmental organization in an ongoing regulatory process. This will be the
preferred mode of the clinic since it will provide students opportunity to interact
and learn from different stakeholders.
o Independent Student Initiative: However, in case of lack of opportunities of
engaging with outside organization the contribution can be done independently by
the students without any direct support to an outside organization. In any case, the
contribution should be such that it is relevant and practically useful to further the
cause of bringing pro-people and pro-poor changes in the regulatory content and
process. Even in case of independent contribution the students will be expected to
interact with experts and other stakeholders for consultation and other purposes.
84
• For example, the substantive contribution can be in form of:
o Some background analysis (like the Regulatory Impact Analysis) for influencing a
regulatory decision, functioning, proposal, petition or process
o Direct contribution in form of actual petition, submission, complaints or other
applications related to regulatory intervention and processes
• Evaluation will be done based on the final product of the substantive contribution, which
can take any of the above form. The final document should be of minimum 5 pages if it is
based on some background-analysis. There will no such minimum requirement if the final
document is based on actual petition or submission. Apart from the final product the
students will also write a 2 page report on the process underwent in development of the
product which should highlight the intensity of engagement of the students in the issue and
the stakeholders.
• Regulatory clinic will be an ongoing activity that will comprise of various forms of
outreach and dissemination work of the faculty with the involvement of the students.
Students who undertake extra efforts and initiatives, other than those considered for the
credits, will be offered with a separate certificate of participation in the regulatory clinic
and will also be provided with a remark in their year-end testimonials.
• Mechanisms other than those mentioned here for conducting the clinic can be developed by
the respective teacher in accordance with the fulfillment of the course objective.
Method of Teaching Field exposure

Weightage
Essential Readings
(readings will be specific to the substantive issue selected for clinic)
85
Semester IV
RG25: Advanced Themes in Regulatory Governance

Course Title and Number Advanced Themes in Regulatory Governance
Semester IV
Course Design Team Roopa Mahadev, Sanjeev Chandorkar
Course Teacher (s) Roopa Mahadev, Sanjeev Chandorkar
Total Credits 4
Rationale
The Advanced themes in regulation explore emerging areas of regulatory governance and
regulatory models. PPPs as an area of requiring a regulatory framework is fast emerging, while
self-regulatory models are being discussed widely in the context of the media and labour
regulation. These new and emerging areas within the discipline provide an insight to the
students to contemporary issues in regulatory governance.
• To provide an overview to students to some of the advanced themes emerging in the
discipline of regulatory governance
• To introduce students to contemporary developments in regulatory governance
Course Content
The course will comprise of various themes related to theory and practice of regulatory
governance. Following are some of the themes that will be covered:
Regulation of Public-Private Partnerships ( 30 hours)
Corporate Models and Investment Risks ( 4 Hours)
• Company's Act provisions, types of companies, concepts Special Purpose
Vehicle(SPV),
Analysis of Investment Risks (4 Hours)
• Types of Investment Risks, Rationale for each one of them, Risk profiles of the
Infrastructure projects, Principle of “Sharing of Risks”,
Evolution and History of Public-Private-Partnerships (4 Hours)
• Privatization in European and Latin America countries, Need for risk sharing between
public and private sector partners; Mainstream rational for Promoting PPPs; the
86
evolution of PPPs in India
Critique of PPPs (4 Hours)
• PPP: a “back-door” privatization?; ultimate risks bearer continues to be the public
sector partner or state;
Different Models of PPPs (4 Hrs)
• Various variants of Build-Operate-Transfer(BOT) to Concession agreements; Common
features of PPPs; Definitions of PPPs
Issues in Regulating PP Model independent of the sector (6 Hrs)
• Process related (Determining eligibility, Bidding, Selection, Negotiation, Finalization),
Tariff determination; monitoring mechanisms, likely conflicts with the sector specific
Regulator,
Case Studies (4 Hrs)
The real life PPP Agreements may be studied, the relevant clauses may be cited, analyzed from
the point of view of common people
Self-regulation (Media and Labour) (30 hours)

• Understanding self-regulation (6 hours) – Is self-regulation better than statutory regulation?
• Voluntary Codes of Conduct on Labour Rights and Human Rights (10 hours)
-Codes of Conduct, Ethical Trade
- Audit, Enforcement and Accountability
• Self- Regulation and Co-Regulation of Media - India, UK, South Africa (10 hours)
• Critiques of the self-regulatory governance models (4 hours)
Method of Assessment and • For PPP Regulation

Weightage o Class Test -I 50%
o Class Test -II 50%
• For Self-regulation
o Written Paper (80 %) and Viva (10 %)
o Class participation (10 %)
Essential Readings
Regulating Public Private Partnerships

(Relevant Extracts from the Books, websites)
• Government of India all encompassing website on PPPs : www.pppindia.gov

• Public Sector Industries Research Unit (PSIRU), a research unit in Europe working to
safeguard the interest of the common people www.psiru.org
87
• Assorted articles on PPP appeared in Economic & Political Weekly (12 in numbers_50 pages)
• Resource Book on PPP case studies – published by European Commission (Chapter 1 and 3)
• Guidebook on Promoting Good Governance in PPP -by United Nations
• Public Auditing Guidelines issued by Comptroller and Auditor General of India
Self-regulation
I. Understanding Self-regulation
- Ian Bartle and Peter Vass (2007), ‘Self-regulation within the regulatory state: towards a
new regulatory paradigm?’ Public Administration, 85:4, pp885-905.
II. Voluntary Codes of Conduct – Labour Rights and Human Rights
- Virginia Haufler, Industry Self-Regulation in a Global Economy, (Carnegie Endowment for
International Peace, Washington D.C., 2001) Chapter 3
- Roopa Madhav, ‘Corporate Codes of Conduct in the Garment Sector in Bangalore’ in
J.Fudge, K.Sankaran and S.McCrystal (eds), Blurring Legal Boundaries:
Commercialisation and Informalisation of Work (Onati Series, Hart, 2012)
III. Self-Regulation and Co-Regulation of Media
- DurgaDasBasu, Law of the Press, 2ndEdn, New Delhi, Prentice Hall Inc., 1986.
- Campbell, Angela J. “Self-Regulation and the Media”, (1999) 51 Federal Communications
Law Journal, 711
- UK, Leveson Report, 2012 and recent newspaper opinion pieces debating media regulation
in India.
88

Regulatory Governance

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M. A. / M. Sc.

Program in Regulatory Governance

Curriculum and Description of Courses

Prayas Pune and External Experts

The School of Habitat Studies is a fully integrated, multi-disciplinary school, undertaking

II. Introduction to the Masters Programme in Regulatory Governance

2.1 Rationale for the Programme by TISS

• The study on capacity building requirements of regulatory staff (published by Forum of

2.2 Why engage with Regulatory Governance?

2.3 Scope of the Programme

• It provides a basic overview of the history, principles, concepts, theory, policies,

2.4 Overall Purpose

2.5 Specific Objectives

2.6 Student Intake

2.7 Career Paths for Students

2.8 Key Features

• Provides a comprehensive understanding of contemporary regulation theory and

III. Process of Curriculum preparation

IV. Program Structure

4.1 Building Blocks of the Program

4.2 Brief Explanation of Different Components and Lists of Courses

1. Foundation and Perspective Courses

2. Concept and Theory Courses

3. General Research Methods and Design

5. Sectoral Regulation (Electives)

• Gradually building on the foundational blocks of the first semester, an introduction of

6. Multi Component Courses: Advanced Themes in Regulatory Governance

7. Field Work and Other Practice Work

• This component offers an opportunity to students to gain practice through exposure,

4.3 Semester-Wise Distribution of Courses and Credits

Components/ Building Semester Semester Semester Semester Total

Table 2. Semester-wise Break-up of Total Credits

Component Semester I Semester II Semester III Semester IV

Semester Course Code Course Title Credits

Part 2: Introduction to Regulatory Governance

List of Elective Courses

Semester Course Code Title of Elective Courses Credits

RG 1: Introduction to Public Policies: Concepts, Theory, and Practice (2 credits, semester 1)

RG 2: Indian Legislative, Legal and Administrative System(2 credits, semester 1)

RG 3: History and Perspectives on Regulatory Governance (2 credits, semester 1)

RG 6: Concepts and Theories in Regulatory Governance (2 credits, semester 2)

RG 7: Economics for Regulation (3 credits, semester 2)

RG 9: Regulatory Impact Analysis (2 credits, semester 2)

RG 11: Basic Course on Regulatory Skills (1 credit, semester 2)

RG 13: Introductory Course on Sectoral Regulation (5 credits, semester 2)

RG 15: Introduction to Social and Environmental Regulatory Rationales (2 credits, semester

RG 17: Regulatory Functioning: Processes, Procedures and Activities (2 credits, semester 3)

RG 18: Law for Regulation (2 credits, semester 3)

RG 19: Elective Course on Sectoral Regulation: Electricity Regulation (2 credits, semester 3)

Micro-Finance in general and micro credit in particular, as an instrument, is increasingly being

RG 22: Electives in Sectoral Regulation: Water Regulation (2 credits, semester 3)

RG 23:Research Design and Proposal for Thesis / Project (2 credits, semester 3)

VI. Fees and Deposits in Rupees

Course Design Team Subodh Wagle

Course Teacher (s) Subodh Wagle

Total Credit Hours 30

The program in Regulatory Governance, though interdisciplinary in nature, is focused on the

Objectives of the Course

1. Basic Concepts related to the field of Public Policy (2 Hrs.)

Method of Teaching Lectures and presentations

Method of Assessment and • Class Test (30 %)

1. Basic Concepts related to the field of Public Policy (2 Hrs.)