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Economic Analysis of Law (LAWS90187)
Graduate courseworkPoints: 12.5Not available in 2021
Please refer to the return to campus page for more information on these delivery modes and students who can enrol in each mode based on their location.
Overview
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This subject introduces students to the economic analysis of the law as a set of tools for analysing laws and understanding the effect legal rules have on the way people behave. The subject explores the extent to which the principles of economics can be used to explain the workings of the legal system itself. Students will learn how to construct and critique basic economic models of the incentive effects of different legal rules and institutions.
The topics covered in this subject include:
- the Coase theorem
- the choice between property and liability rules
- the allocative effects of alternative liability rules (e.g. strict liability versus negligence)
- the determination of remedies in civil claims (e.g. contract, tort)
- the economics of legal procedure
- public choice.
Particular attention is paid to applying economic analysis to contemporaneous legal and policy controversies in Australia and Asia-Pacific.
Intended learning outcomes
A student who has successfully completed this subject will demonstrate:
- The cognitive and technical skills to critically and independently apply economic principles in critical analysis of legal rules and public policy
- Integrated understanding of the basic economic concepts such as demand-supply, Coase theorem, public choice, moral hazard, adverse selection etc in the legal context
- Through the assessment involving examination, the ability to identify and resolve theoretical and practical problems concerning the economic dimension of legal rules and public policy.
Generic skills
On successful completion of this subject, students will have developed their skills in the following areas:
- Specialist understanding, interpretation, application, and evaluation of economic principles in the context of law and policy debate.
- Identifying and resolving theoretical and practical problems concerning the economic dimension of law and policy debates in a manner that display independent, critical and professional judgment.
- Analyse critically and reflect on the merits and limitations on the inter-disciplinary approach of law, especially for research and further learning.
Last updated: 12 November 2022
Eligibility and requirements
Prerequisites
None
Corequisites
None
Non-allowed subjects
None
Inherent requirements (core participation requirements)
The University of Melbourne is committed to providing students with reasonable adjustments to assessment and participation under the Disability Standards for Education (2005), and the Assessment and Results Policy (MPF1326). Students are expected to meet the core participation requirements for their course. These can be viewed under Entry and Participation Requirements for the course outlines in the Handbook.
Further details on how to seek academic adjustments can be found on the Student Equity and Disability Support website: http://services.unimelb.edu.au/student-equity/home
Last updated: 12 November 2022
Assessment
Description | Timing | Percentage |
---|---|---|
Class participation | Throughout the teaching period | 10% |
Open-book exam
| During the examination period | 90% |
Last updated: 12 November 2022
Quotas apply to this subject
Dates & times
Not available in 2021
Additional delivery details
This subject has an enrolment quota of 60. Your subject enrolment will not be confirmed until the selection process has been run. Selection is conducted on a random basis with outcomes communicated to students shortly after re-enrolment closes. Please refer to the Melbourne Law School website for more information on the JD Quota Elective selection process.
Last updated: 12 November 2022
Further information
- Texts
Prescribed texts
Specialist materials may be provided by Melbourne Law School.
- Links to additional information
- Available through the Community Access Program
About the Community Access Program (CAP)
This subject is available through the Community Access Program (also called Single Subject Studies) which allows you to enrol in single subjects offered by the University of Melbourne, without the commitment required to complete a whole degree.
Entry requirements including prerequisites may apply. Please refer to the CAP applications page for further information.
- Available to Study Abroad and/or Study Exchange Students
This subject is available to students studying at the University from eligible overseas institutions on exchange and study abroad. Students are required to satisfy any listed requirements, such as pre- and co-requisites, for enrolment in the subject.
Last updated: 12 November 2022