Law and Economics
| Code | School | Level | Credits | Semesters |
| BUSI3013 | Business | 3 | 10 | Autumn UK |
- Code
- BUSI3013
- School
- Business
- Level
- 3
- Credits
- 10
- Semesters
- Autumn UK
Summary
Introduction to law and economics: the Coase theorem, property rights and transaction costs. Economics of corporate law; ownership, agency and governance structures. Economics of contract law; efficient breach and efficient remedies. Economics of tort law; efficient liability rules. Economics of criminal law; fines and imprisonment. Economics of legal processes; litigation, settlement and trial. Competitive markets; products liability. Non-competitive markets; economics of antitrust law and regulation.
Target Students
Only available for Part II Business School students.Available to exchange students.
Classes
- One 1-hour seminar each week for 2 weeks
- One 1-hour lecture each week for 10 weeks
10 one-hour lectures plus two one-hour seminars. Please note all non-lectures will be timetabled in the Business School
Assessment
- 100% Coursework 1: 2000 words
Assessed by end of autumn semester
Educational Aims
To provide an introduction to the insights into the law and legal processes which have arisen from the application of economic analysis, and to explore applications from the law of tort, contract and commercial law.Learning Outcomes
Knowledge and understanding
This module develops a knowledge and understanding of:
• Leadership, management and development of people including the implications of the legal context
• Leadership, management and development of organisations including the implications of the legal context
• The development of appropriate policies and strategies within a changing environment to meet stakeholder interests
• The need for individuals and organisations to manage responsibly and sustainably and behave ethically in relation to social, cultural, economic and environmental issues
Intellectual skills
This module develops:
• The ability to analyse facts and circumstances to determine the cause of a problem and identifying and selecting appropriate solutions
• Conceptual and critical thinking, analysis, synthesis and evaluation
Professional practical skills
This module develops:
• Self-analysis and awareness/sensitivity to diversity in terms of people and cultures. This includes a continuing appetite for development.
Transferable (key) skills
This module develops:
• Articulating and effectively explaining information
• Emotional intelligence and empathy