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SYLLABUS

Law and Economics , 15 ECTS Credits

COURSE CATEGORY   Fristående kurs MAIN FIELD OF STUDY   SUBJECT AREA     COURSE CODE   HNAA05

AIM OF THE COURSE

The aim of the course is for the students to aquire a general introduction to Law and Economics.

CONTENTS

The course includes two parts with each four sections. Part 1. - Introduction First there is an introduction to the economic approach to law. The history of the field of study is briefly presented. You will also be introduced to some basic concepts of microeconomic theory. - Economic Theory of Property Rights Property rights are fundamental in the market economic system. The economic consequences of different property right regimes, such as private vs. collective ownership, are examined. Intellectual property such as patents and brand names are also studied. - Economic Theory of Contract Law Contracts are fundamental for trade and corporation. Without enforcement of contracts a lot of transactions would never occur, and as a consequence the social welfare would be reduced. The theory of contract is also applied to corporations like firms and marriage. - Economic Theory of Tort Liability The economic theory of liability law deals with the conditions for efficient rules when there are no contract of the involved parties, e.g. in traffic accidents and industrial pollution. Part 2. - Antitrust Legislation Antitrust legislation is today a classic example of a regulation, which aims at a reduction of welfare losses. These underlying economic reasons for antitrust laws will be examined. - Corporate Law Firms and corporations are an alternative way of organizing economic activities as compared to the market process. In the presence of transaction costs it might be more efficient to organize economic activities trough a firm rather than through the market. We will study some of the ways the law can facilitate the formation of firms. - Economics of Regulation Economic theory of regulation provides an explanation to why regulations look like they do. Regulations mean that administrative authorities replace the market mechanism in the allocation process of resources. We will examine what effects this might have on social welfare. The different perspectives on regulations will be stressed. - Economics of Crime We introduce you to the economic theory of crime. We introduce a model of a rational criminal that maximizes the benefit of crime. This theory is then used to develop theories of optimal levels of enforcement and punishment. This will then be applied to environmental law and policy. - Economics of the Environment The theories above are applied to environmental policy and law. Environmental principles such as sustainable development and the polluter pays principle are examined.

TEACHING

The teachers meet the student at two teaching days. Here lectures are given. The rest of the teaching is virtual. The students are given reading lists and questions to be answered individually and mailed for grading. There are also group assignments by which students communicates and interact with the teachers. Each student also writes two individual papers which are supervised by an expert in the field.

EXAMINATION

The examination will include questions to answer individually, group assignments, and individual papers/cases. Students who have failed an examination are normally allowed to retake it on two additional occasions, one of which should be arranged shortly after the first examination. Students failing an exam covering either the entire course or part of the course three times are entitled to have a new examiner appointed for the reexamination. Students who have passed an examination may not retake it in order to improve their grades. Students who have failed an examination are normally allowed to retake it on two additional occasions, one of which should be arranged shortly after the first examinationn. Students failing an exam covering either the entire course or part of the course three times are entitled to have a new examiner appointed for the reexamination. Students who have passed an examination may not retake it in order to improve their grades.

ADMISSION REQUIREMENTS

Only general admission requirements: Completion of an upper secondary education and skills in English, both written and oral, corresponding to the level of English required in Swedish upper secondary education (eg. a TEOFL-score of at least 500 points for paper based test, 197 points for computer based test or 61 points for internet based test; IELTS with at least 5,0 overall and no part under 4,5, or equivalent) TOEFL score 550/213 or equivalent (3 årskurser engelska på gymnasienivå/Engelska B).

GRADING

The course is graded according to the ECTS grading scale A-F

CERTIFICATE

Course certificate is issued by the Faculty Board on request. The Department provides a special form which should be submitted to the Student Affairs Division.

COURSE LITERATURE

The course literature is decided upon by the department in question.

OTHER INFORMATION

Planning and implementation of a course must take its starting point in the wording of the syllabus. The course evaluation included in each course must therefore take up the question how well the course agrees with the syllabus. The course is carried out in such a way that both men´s and women´s experience and knowledge is made visible and developed.

Law and Economics Law and economics   Department responsible for the course or equivalent: EKI - Department of Management and Economics             Registrar No:   Course Code: HNAA05           Exam codes: see Local Computer System       Subject/Subject Area :                       Level   Education level     Subject Area Code   Field of Education   A       NAA   SA