The first part of this course introduces students to the economic approach covering important basic economic concepts and theories (including efficiency, notions of social benefit and cost, the Coase Theorum, Median Voter Theory, and Agency Theory).
The second part of this course applies these theories to the analysis of rules and legal institutions. Topics in the second half could include
- Property, Contract and Tort Law and Economics (applying the Coase Theorum and extensions)
- Economic Analysis of Disputes, Litigation, Court and Tribunal Decision Making (including the economic analysis of the efficiency of the common law)
- Economic Analysis of Government - Constitutional and Administrative Law and economics (including public choice theory of Parliamentary Government and agency theory of Executive Government)
- The economics of Corporations law ( including transactions costs analysis of the role of Corporate Personality, Limited Liability, and Directors Duties)
- The Economics of Competition Law ( and its relationship to Intellectual Property)
- Economics and the Criminal Justice System,
- The use of economic evidence in court, and Government decision making the role of theory, econometrics, statistical and financial analysis.
Learning Outcomes
Upon successful completion, students will have the knowledge and skills to:
By the conclusion of this course, it is intended that students who have successfully completed all the course requirements will be able to:- Explain, conceptualise and distinguish a sound understanding of basic economic methodology and the meaning of concepts such as efficiency, justice, rights, legal rules and institutions and the relationships between them;
- Identify, analyse and critically examine the complexities of the interplay between economic consequences and the role of law and legal institutions;
- Identify, critically examine and apply specific legal policy issues from a law and economics perspective; and
- Demonstrate, at masters level, the ability to independently plan and execute a research project applying legal research principles and methodologies to critically analysis and apply legal principles and practice to complex issues.
Other Information
This is an intensive course with a 4 day compulsory intensive (see LLM timetable for dates).Approximately 6 weeks from the completion of the intensive your final assessment will be due. Contact with fellow students and the convenor, both prior to the intensive and after, is conducted via the Wattle course site.
Indicative Assessment
Assessment for this course will likely consist of:- Class Participation (10%)
- Research Essay (90%, 7000 words)
The ANU uses Turnitin to enhance student citation and referencing techniques, and to assess assignment submissions as a component of the University's approach to managing Academic Integrity. While the use of Turnitin is not mandatory, the ANU highly recommends Turnitin is used by both teaching staff and students. For additional information regarding Turnitin please visit the ANU Online website.
Workload
26 hours of face to face teaching (4 day intensive). The course will also require advanced preparation through assigned readings. In total, it is anticipated that the hours required for completion this course (class preparation, teaching and completion of assessment) will not exceed 120 hours.Click here for the LLM Masters Program timetable
Requisite and Incompatibility
Prescribed Texts
The prescribed text for this course is:- Robert D. COOTER and Thomas ULEN (2012), Law and Economics, Addison Wesley Longman, 6th edition
Preliminary Reading
It is highly recommended students have access to:- Posner, Richard A. Economic Analysis of Law, 8th edition, 2010, Aspen Law & Business; especially Parts III, IV, VI and VII
- Mueller, Dennis C. Public Choice III, 3rd ed. 2003, Cambridge University Press especially chapters 1-3 and 16
- Kahn, A. E. (1988) The Economics of Regulation: Principles and Institutions, MIT Press Chapter 1
Students must rely on the approved Course Study Guide which will be posted to the Wattle course site approximately 4 weeks prior to the commencement of the course.
Assumed Knowledge
Students without an Australian law degree must have completed LAWS8587 Legal Framework of RegulationFees
Tuition fees are for the academic year indicated at the top of the page.
If you are a domestic graduate coursework or international student you will be required to pay tuition fees. Tuition fees are indexed annually. Further information for domestic and international students about tuition and other fees can be found at Fees.
- Student Contribution Band:
- 3
- Unit value:
- 6 units
If you are an undergraduate student and have been offered a Commonwealth supported place, your fees are set by the Australian Government for each course. At ANU 1 EFTSL is 48 units (normally 8 x 6-unit courses). You can find your student contribution amount for each course at Fees. Where there is a unit range displayed for this course, not all unit options below may be available.
| Units | EFTSL |
|---|---|
| 6.00 | 0.12500 |
Course fees
- Domestic fee paying students
| Year | Fee |
|---|---|
| 2017 | $3420 |
- International fee paying students
| Year | Fee |
|---|---|
| 2017 | $4878 |
Offerings, Dates and Class Summary Links
ANU utilises MyTimetable to enable students to view the timetable for their enrolled courses, browse, then self-allocate to small teaching activities / tutorials so they can better plan their time. Find out more on the Timetable webpage.
