Law and Economics / Analyse économique du droit

The economic analysis of law had a deep impact on how we think of the role of the legal system in society, court decisions, and regulatory policy. This course aims to introduce the economic analysis of legal rules and decision making applied to specific areas of the law.

(Tentative course content, subject to changes) :
Introduction to Law & Economics
Fundamental microeconomics concepts; Efficiency and the Law
Contract Law
Torts
Introduction to Empirical Legal Studies.
Criminal Law & Economics.
Legal origins.
Judicial Behaviour.
Medical malpractice.

By the end of the semester, students will have the ability to understand and apply economic tools, models, and theories to legal policy discussions; evaluate the effectiveness of legal rules, regulations, and public policies using sound economic techniques; normatively assess the law in terms of economic efficiency.

Required and Corequired knowledge and skills

Each lecture consists in a mix of traditional class materials (e.g., chapters from textbooks, academic papers) covering fundamental concepts of Law & Economics; and discussion, where students’ participation is expected and encouraged.
Empirical papers on Law & Economics topics will be covered as well. This is not an Empirical Legal Studies’ course, and therefore students are not expected to have training on empirical methods. However, it is important for students to get acquainted with this type of methodology.

References, bibliography, and recommended reading

Tentative short list (to be completed):

• Robert Cooter and Thomas Ulen (2016) "Law and Economics”, 6th edition, Berkeley Law Books
• Posner, R. A. (1979) Utilitarianism, Economics, and Legal Theory, Journal of Legal Studies 103.
• Louis Kaplow & Steven Shavell, The Conflict between Notions of Fairness and the Pareto Principle, 1 American Law & Economics Review 63 (1999).
• Coase, R. (1960) The Problem of Social Cost, Journal of Law & Economics 3: 1-44.
• Arlen, J. (1999) Tort Damages, Encyclopedia of Law & Economics.
• Epstein, L., A. D. Martin and C. L. Boyd (2007) On the Effective Communication of the Results of Empirical Studies, Part I, Vanderbilt Law Review 59:6.
• Becker, G. S. (1968) Crime and Punishment: An Economic Approach, Journal of Political Economy 76(2): 169-217.
• Richard A. Posner (1993) What Do Judges and Justices Maximize? (The Same Thing Everybody Else Does), Supreme Court Economic Review 3:1-41.

Course notes

• Université virtuelle

Additional information

Contacts

Sofia AMARAL-GARCIA : sofia.amaralgarcia@ulb.be

Campus

Solbosch

Method(s) of evaluation

• written examination

written examination

• Open question with developed answer
• Closed question with multiple choices (MCQ)
• Closed question True or False (T/F)

Please specify in this field any additional information that could not be described in the previous field, in order to provide as much information as possible about how the assessment will be carried out..

Mark calculation method (including weighting of intermediary marks)

Final exam: 70%

Group assignment: 30%

Language(s) of evaluation

• english