The Centre for Human Rights, Faculty of Law, University of Pretoria in collaboration with the African Global Trade Institute will host an virtual Industrial Policy Masterclass from 25 - 28 November 2024. This course is a globally relevant course and not country specific. The course is designed for policymakers, economists, legal professionals, government officials, the civic society and other stakeholders who want to develop their skills and knowledge of the legal and economic principles of industrial policy.
This course will help government officials in the policy space to better design, implement and assess policies within the new framework of the AfCFTA. For those in the private sector, this course will help to better understand the thinking behind industrial policy and formulate better business strategies to operate in a world where industrial policy is increasingly important.
The course provides a theoretical base to understand the principles behind industrial policy before dealing with how it is implemented. By the end of the course, the participants will have a solid understanding of industrial policy principles and be equipped with models to better assess industrial policies.
Course overview
Course length: Four days of 2.5 hours per day
Dates: 25 - 28 November 2024
Price:
- In South Africa R6 700.00 incl. VAT;
- For Non-South Africans US$ 400.00
Course type: Short course
Mode of delivery: Online (zoom)
Certificate: On successful completion
Language: English
Level of difficulty: Medium
Course prerequisites: Minimum grade 12 or matriculation
Course preparation: None
Course Content
Day 1: Introduction to industrial policy
- Supply, demand and the setting of prices
- Understanding opportunity cost
- There is no free lunch (costs and benefits)
- Concentrated benefits and dispersed costs
- What is industrial policy and what it is not
- What problem does industrial policy seek to solve? Protecting legacy businesses, improving productivity or supporting innovation?
- History of industrial policy
- The Corn Laws
- The Fordney – McCumber Tariff
- The Smoot Hawley Act
- The Jones Act
- Industrial policy implementation mechanisms
- Trade instruments – tariffs, export duties, quantitative restrictions and trade remedies
- Subsidies
- Special Economic Zones
- Government procurement
- Government sale of assets
- Contracted commitments
- A snapshot of industrial policy around the globe in the 21st century
Day 2: Part 1 - The theory of industrial policy
- Meet Frederich List, the father of industrial policy
- Meet David Ricardo – comparative advantage
- Pick your strategy: Import replacement or export orientation
- Meet Frederic Bastiat – Localisation’s original critic
- The theories of localisation and beneficiation
- Vertical and horizontal industrial policies. Introduction to the XA Policy Pyramid
Day 3: Part 2 – The theory of industrial policy
- The art, or not, of picking winners
- The importance of a competent state (Know your leviathan)
- The role of accountability
- The risk of creating oligarchs and concentrating wealth
- Opportunity costs and trade-offs
- The role of prices in allocating resources
- Industrial policy and the WTO
Day 4: Part 1 - The process of industrial policy
- The traditional policy making process
- Secrecy and lobbying
- The importance of participation and transparency - Introduction to the XA Policy Assessment Matrix
- Meet John Rawls. How to use the ‘veil of ignorance’ to improve policy formulation
Day 4: Part 2 - Measuring industrial policy
- The role of data
- How do you know when you have succeeded or failed? Using the SMART framework.
- The unmeasured part of industrial policy.
- The time it takes to make decisions and its impact on the policy efficacy
- The risk of evergreen support
- Meet the Reverent Thomas Bayes – Applying Bayesian thinking in the policy space
- The principles of good industrial policy
- Brief overview of the applied industrial policy masterclass
Payment
Account name: University of Pretoria
Bank: ABSA Bank
Account number: 214 000 0038
Branch code: 632005
Swift code: ABSAZAJJ
As reference please supply the following information: (A1F659) and Lastname
Please email a proof of payment to Mr Dennis Antwi at Dennis.Antwi@up.ac.za
NB: Do not make payment until you have received confirmation that you have been accepted for the course.
NB: Kindly note this is part 1 of a 2 course series. The second course on applied industrial policy will be done in person as a two day workshop at the University of Pretoria before the end of March 2025. Course fees and details of this course will be communicated after completion of part one.
For more information, please contact: humanrights@up.ac.za
This masterclass is presented by the Centre for Human Rights, Faculty of Law, University of Pretoria in collaboration with the African Global Trade Institute.
