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  3. Economics of the Law

Economics of the Law (ECON30018)

Undergraduate level 3Points: 12.5On Campus (Parkville)

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Year of offer2019
Subject levelUndergraduate Level 3
Subject codeECON30018
Semester 1
FeesSubject EFTSL, Level, Discipline & Census Date

This subject addresses the economic principles underlying various areas of the law and which are relevant to legal practice. Three main issues will be studied. The first is competition law and consumer protection. The second is property rights, including intellectual property. The third main area concerns issues of damages and compensation. The course will develop economic tools to analyse these legal issues. These include incomplete contracting, oligopoly analysis and incomplete information.

Intended learning outcomes

On successful completion of this subject students should be able to:

  • specify a microeconomic policy issue;
  • select and justify appropriate economic theories for analysing the issue;
  • specify benefits and costs expected to result from the policy intervention;
  • identify alternative economic policies for achieving the policy object if appropriate.

Generic skills

  • High level of development: problem solving; application of theory to practice; interpretation and analysis; critical thinking; receptiveness to alternative ideas.

  • Moderate level of development: oral communication; written communication; synthesis of data and other information; evaluation of data and other information; accessing data and other information from a range of sources.

  • Some level of development: collaborative learning; team work; statistical reasoning; use of computer software.

Last updated: 11 October 2019