ECONOMIC ANALYSIS OF THE LAW


Chen Jianlin

Faculty of Law
University of Melbourne

Description:
This course introduces students to the economic analysis of law as a set of tools for analysing laws and understanding the effect legal rules have on the way people behave. This course also explores the extent to which the principles of economics can be used to explain the workings of the legal system and political institutions. Particular attention is paid to apply economic analysis to contemporaneous law and policy controversies in East Asia.

The course neither presumes nor requires a background in economics.


Keywords:
Economic Analysis; Public Choice; Efficiency; Redistribution


Course Objectives
At the end of the course, students should be able to:
explain basic economic concepts such as demand-supply, Coarse theorem, public choice, moral hazard, adverse selection etc.
construct and evaluate basic economic models of the incentive effects of different rules and institutions
apply economic principles in analysis of legal rules and public policy
identify and evaluate the various economic justifications for and against in the context of novel legal and policy problems


Teaching/Learning Methodology/Methods
The course is organised as an interactive seminar. Student participation is expected and counted significantly towards the final grade.


Course Materials
All necessary course reading materials will be available as electronic PDF. It is not necessary to purchase the suggested texts.

Suggested Texts
Richard A. Posner, Economic Analysis of Law (Wolters Kluwer Law & Business 9th ed., 2014).


Assessment
80% In-hall exam; 20% Class participation


Course Schedule


Seminar No. 1 Contract & Employment Law



Seminar No. 2 Property & Tort



Seminar No. 3 Criminal Law & Organized Crime



Seminar No. 4 Religion



Seminar No. 5 Public Policy: Regulations and Public Choice



Seminar No. 6 EXAM