Law and Economics addresses questions of regulatory design by combining insights and methodologies from both legal and economic scholarship. Students will learn how the tools of economics can be used to help address complex regulatory challenges such as climate-compatible regulation of trade and investment. Introducing the interdisciplinary field of Law & Economics through analysis of current regulatory challenges, this course reflects the ANU College of Law’s commitment to transdisciplinary teaching.
In addition to a range of relevant economic theory, this course introduces students to empirical methods. Students will learn how both qualitative and quantitative empirical approaches can be used to study both the causes and consequences of regulation. The focus with regard to methodologies will be on understanding when different methodologies are likely to be appropriate, and how to interpret findings. As such, this course should be seen as a complement to, but not substitute for a general "methods" course.
In this course, students will gain an understanding of both the strengths and limitations of economic approaches to regulatory design. Importantly the course clearly distinguishes between neoclassical economics and neoliberal ideology, between welfare and financial wealth. Examples include the application of welfare-economy theory to critically analyse current international investment agreements, or to illustrate the logic behind trade-related climate policies such as carbon border adjustments. These examples will also be used to illustrate the limits of neoclassical economics regarding questions of distribution of welfare. Similarly, the limitations of Chicago-school Law & Economics a la Coase will be explored. Understanding strengths and limitations of the economic approach will allow students to both design and critically analyse regulatory proposals based on economic rationale.
Learning Outcomes
Upon successful completion, students will have the knowledge and skills to:
- Critically reflect on the current regulatory environment and incorporate economic approaches into regulatory design.
- Apply economic approaches to review responses to current regulatory challenges.
- Develop, synthesise and apply specialist knowledge of economic concepts relevant to analysis of regulation.
- Research and evaluate empirical analyses of the causes and consequences of regulation.
Other Information
NA
Indicative Assessment
- The proposed means of assessment for this course will provide students with at least two pieces of assessment, including one piece during the teaching period. More information about the means of assessment, including the relationship between the assessment and the learning outcomes of the course, will be available in the class summary and on the course WATTLE page. (100) [LO 1,2,3,4]
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Workload
- Classes offered in non-standard sessions will be taught semi-intensively with compulsory contact hours of approximately 26 hours of face-to-face teaching. The course will also require advanced preparation through assigned readings. In total, it is anticipated that the hours required for completion of this course (class preparation, teaching and completion of assessment) will not exceed 120 hours.
- Classes offered during semester periods are expected to have three contact hours per week. Students are generally expected to devote at least 10 hours overall per week to this course. In total, it is anticipated that the hours required for completion of 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
Students must rely on the approved Class Summary which will be posted to the Programs and Courses site approximately two weeks prior to the commencement of the course. Alternatively, this information will be published in the Program course list when finalised.
Preliminary Reading
Students must rely on the approved Class Summary which will be posted to the Programs and Courses site approximately two weeks prior to the commencement of the course. Alternatively, this information will be published in the Program course list when finalised.
Fees
Tuition fees are for the academic year indicated at the top of the page.
Commonwealth Support (CSP) Students
If you 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). More information about your student contribution amount for each course at Fees.
- Student Contribution Band:
- 3
- Unit value:
- 6 units
If you are a domestic graduate coursework student with a Domestic Tuition Fee (DTF) place or international student you will be required to pay course tuition fees (see below). Course tuition fees are indexed annually. Further information for domestic and international students about tuition and other fees can be found 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 |
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.
