LA9F7-20 Economic Analysis of Law
Introductory description
Law and the economy are intimately connected: law affects economic behaviour, performance, and development, which in turn affect how law is structured, operates, and evolves. The module introduces students to a prominent way to study of these connections – the 'economic analysis of law' (sometimes referred to simply as 'law & economics').
Module aims
The module aims to provide students with a solid knowledge of the basic principles of economics that can improve their understanding of legal rules, doctrines, and procedures. The module demonstrates the value of applying economic reasoning and economic methodologies to the analysis of problems in familiar areas of law, such as property, contract, tort, crime, and more.
Outline syllabus
This is an indicative module outline only to give an indication of the sort of topics that may be covered. Actual sessions held may differ.
The topics that will be covered in this module include: introduction to law & economics; economics of crime; economics of property rights; economics of contract law; economics of tort law; economics of corporate law; economics of intellectual property; economics of competition law; limitations and extensions of law & economics
Learning outcomes
By the end of the module, students should be able to:
- Develop a good knowledge of the basic principles of economics that are relevant for lawyers
- Recognise why any discussion of existing or proposed legal rules requires comparative institutional analysis
- Critically evaluate the use of economic evidence and advice in the adoption of policy
- Critically assess the theoretical, empirical, and normative limitations of the economic analysis of law
- Understand recent developments in law & economics
Indicative reading list
View reading list on Talis Aspire
Interdisciplinary
The module combines methods and insights of two academic disciplines – law and economics – to show students the value of communicating across disciplinary boundaries and how each discipline can complement the other.
Subject specific skills
Have a good knowledge and understanding of the theoretical ideas and applications of law and economics.
Be able to apply economic reasoning and methods to a variety of legal problems.
Understand and evaluate legal reform proposals in economic terms.
Transferable skills
Develop independent, analytical, and critical thinking skills.
Improve ability to evaluate and communicate complex ideas.
Enhance ability to develop, structure, and deliver persuasive lines of argument.
Mobilise multiple source materials in the service of a sustained analytical argument.
Work unsupervised as the main mode of work.
Work in a team and be sympathetic to other contributions.
Study time
| Type | Required |
|---|---|
| Seminars | 9 sessions of 3 hours (14%) |
| Private study | 133 hours (66%) |
| Assessment | 40 hours (20%) |
| Total | 200 hours |
Private study description
No private study requirements defined for this module.
Costs
No further costs have been identified for this module.
You must pass all assessment components to pass the module.
Assessment group A2
| Weighting | Study time | |
|---|---|---|
| 4000 word essay | 100% | 40 hours |
|
A 4,000 word essay from a menu of assigned topics. |
||
Feedback on assessment
Individual written feedback and general (cohort) feedback (standard Law School policy).
Courses
This module is Optional for:
- Year 1 of TIMA-L981 Postgraduate Social Science Research
- Year 1 of TLAA-M3PJ Postgraduate Taught Advanced Legal Studies
-
TLAS-M3P7 Postgraduate Taught International Economic Law
- Year 1 of M3P7 International Economic Law
- Year 1 of M3P7 International Economic Law
- Year 1 of TLAS-M221 Postgraduate Taught LLM in International Corporate Governance and Financial Regulation
This module is Core option list A for:
- Year 1 of TLAA-M3PJ Postgraduate Taught Advanced Legal Studies
- Year 1 of TLAA-M223 Postgraduate Taught International Commercial Law
- Year 1 of TLAS-M3P7 Postgraduate Taught International Economic Law
- Year 1 of TLAS-M221 Postgraduate Taught LLM in International Corporate Governance and Financial Regulation
This module is Core option list B for:
- Year 1 of TLAA-M3PJ Postgraduate Taught Advanced Legal Studies
- Year 1 of TLAA-M223 Postgraduate Taught International Commercial Law
- Year 1 of TLAS-M3P7 Postgraduate Taught International Economic Law
- Year 1 of TLAS-M221 Postgraduate Taught LLM in International Corporate Governance and Financial Regulation