This module is designed to show the intersection of law and economics. The course aims to develop an understanding of how economic concepts can be applied to legal rules. The module will explore the application of economic principles to legal doctrines and will focus on a number of areas such as torts, contracts, property.
The course starts from the “birth” of law and economics as separate fields, examining the claims and the limits of the “pure economics” and “pure law” as well as the implicit assumptions which relate to them. This module aims to provide a detailed analysis of the interaction between law and economics in a number of specific areas. Familiarity with the economic effects of legal rules and accurate understanding of the institutional legal framework of market economies has become indispensable for understanding commercial reality.
The learning outcomes of the course is the development of analytical skills to a level where students can evaluate critically law and economics research outputs and design and carry out themselves such research projects. The course provides an overview of standard models of the economic analysis of law, based on property rights, contracts, torts, litigation issues, financial markets, regulation and antitrust.
5,000 word course essay