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Competition Law is an area of law with mixed legal-economic content. The central disciplinary underpinning of competition law is economics. It is therefore essential that those practising in this field, whether as legal advisors to business, competition authority staff, or members of tribunals or courts have a solid grounding in the economic theories, concepts and techniques that underpin the policy, law and enforcement in this field.
This foundational subject introduces students to the history and spread of competition law across the world over the last century and to the range of objectives, influenced by various economic schools of thought, that have informed its development in different places and at different times. It ensures that students are well-versed in core economic vocabulary, concepts and frameworks and the ways in which they are translated into categories of legal prohibitions and enforcement approaches, common to all competition systems.
The subject sets the foundation for the course, providing crucial groundwork that will equip students to confidently tackle the economic content of the remaining subjects in greater detail. While the subject includes material with basic numerical equations, examples and diagrams, it does not require students to have advanced mathematical or statistical background knowledge or skills.
Highlights of the subject include:
- Practical application of economic concepts and techniques through problem-based learning activity; and
- Expositions and insights from leading economists and practitioners on various aspects of economics and the role of economists in competition law and practice.
Intended learning outcomes
On completion of this subject, students will have:
- Developed important foundational knowledge about the historical origins and development of competition systems, the policy objectives of the law, and the role of economics in the design and application of competition law;
- Started to develop specialised cognitive and technical skills that equip them to independently and critically analyse and apply economic concepts and theories relevant to competition law; and
- Shown a capacity to use the knowledge and skills they have gained in the subject in a way that demonstrates effective autonomy, judgment, adaptability and responsibility as an expert learner and practitioner in the field of global competition and consumer law.
Last updated: 15 July 2021