This course examines the role of the corporation in the American economy. Questions considered include the following: Are our markets competitive? How do firms compete with each other and why? What do we lose when monopoly exists? How does market structure affect advertising and technological progress? Why regulate corporate behavior in the areas of advertising, product safety, pollution, and occupational safety? Do we regulate effectively? What is the appropriate role of business in public policymaking? Format: lecture/discussion. Requirements will include one short paper, a midterm, and a final exam. Prerequisite: Economics 110. Students who have completed Economics 251 must have permission of the instructor. Enrollment limit: 40.