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:

1. Critically reflect on the current regulatory environment and incorporate economic approaches into regulatory design.
2. Apply economic approaches to review responses to current regulatory challenges.
3. Develop, synthesise and apply specialist knowledge of economic concepts relevant to analysis of regulation.
4. Research and evaluate empirical analyses of the causes and consequences of regulation.

Examination Material or equipment

There is no final examination for this course.

Required Resources

Cooter, Robert & Ulen, Thomas, Law and Economics (Pearson, 6th edition, 2016) Available at: https://lawcat.berkeley.edu/record/1127400?ln=en&v=pdf

Cooter, Robert & Gilbert, Michael, Public Law and Economics (Oxford University Press, 2022) Available at: https://publiclawandeconomics.org/

Recommended Resources

Whether you are on campus or studying online, there are a variety of online platforms you will use to participate in your study program. These could include videos for lectures and other instruction, two-way video conferencing for interactive learning, email and other messaging tools for communication, interactive web apps for formative and collaborative activities, print and/or photo/scan for handwritten work and drawings, and home-based assessment.

ANU outlines recommended student system requirements to ensure you are able to participate fully in your learning. Other information is also available about the various Learning Platforms you may use.

Staff Feedback

Students will be given feedback in the following forms in this course:

• written comments
• verbal comments
• feedback to whole class, groups, individuals, focus group etc

Student Feedback

ANU is committed to the demonstration of educational excellence and regularly seeks feedback from students. Students are encouraged to offer feedback directly to their Course Convener or through their College and Course representatives (if applicable). Feedback can also be provided to Course Conveners and teachers via the Student Experience of Learning & Teaching (SELT) feedback program. SELT surveys are confidential and also provide the Colleges and ANU Executive with opportunities to recognise excellent teaching, and opportunities for improvement.

Other Information

Extensions late submission and penalties - https://law.anu.edu.au/current-students/policies-procedures/extensions-late-submission-and-penalties

Deferred examination: http://www.anu.edu.au/students/program-administration/assessments-exams/deferred-examinations

Penalties for excess word length: https://law.anu.edu.au/current-students/policies-procedures/word-length-and-excess-word-penalties

Distribution of Grades Policy: Effective from Winter Session and Second Semester 2018 (and until further notice), the current Grading Distribution Policy has been suspended pending the development of a new policy. For further information about this interim policy please see: https://law.anu.edu.au/current-students/policies-procedures/grading

Further Information about the Course: is available from the course Canvas page. Students are required to access the Canvas site regularly throughout the course for details on weekly classes and any announcements relating to the course.

Class Schedule

Week/Session	Summary of Activities	Assessment
1	Introductory Lecture: What do we mean by Law, Economics, Regulation, Law & Economics?
2	Lecture and tutorial: Neoclassical Fundamentals and Welfare Economics
3	Lecture and tutorial: An Economic Theory of Property
4	Lecture and tutorial: An Economic Theory of Tort Law	Assessment Task 1 Due Tuesday
5	Lecture and tutorial: An Economic Theory of Contract Law
6	Lecture and tutorial: An Economic Theory of Enforcement
7	Lecture and tutorial: Quantitative empirical methods for analysis for and of Regulation	Assessment Task 2 Due Tuesday
8	Lecture and tutorial: Qualitative and mixed methods for analysis for and of Regulation
9	Lecture and tutorial: Topics in the Economics of Property Law
10	Lecture and tutorial: Topics in the Economics of Tort Liability	Assessment Task 3 Due Tuesday
11	Lecture and tutorial: Topics in the Economics of Contract Law
12	Lecture and tutorial: Topics in the Economics of Enforcement

Tutorial Registration

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. MyTimetable (MyTT) tutorial allocations are done on a first-come, first-served basis. If you hold a current EAP stating that you require priority selection, you will need to contact the College Student and Education Support team before MyTT opens.

If you are unable to secure a spot in your preferred timeslot, we recommend enrolling in another tutorial and joining the waitlist (indicated by a heart). If spots become available, they are automatically chronologically allocated to those on the waitlist.

Please note that work commitments will not be considered as a reason for requesting a change to your allocation/s. It is expected that students make themselves available on weekdays for tutorials and seminars. Find out more on the Timetable webpage.

Assessment Summary

Assessment task	Value	Due Date	Return of assessment	Learning Outcomes
Research topic for feedback	0 %	12/08/2025	26/08/2025	1,3
Research Proposal	30 %	16/09/2025	30/09/2025	1,3
Annotated Bibliography	20 %	07/10/2025	11/11/2025	2,4
Research Essay	50 %	04/11/2025	*	1,2,3

* If the Due Date and Return of Assessment date are blank, see the Assessment Tab for specific Assessment Task details

Policies

ANU has educational policies, procedures and guidelines , which are designed to ensure that staff and students are aware of the University’s academic standards, and implement them. Students are expected to have read the Academic Integrity Rule before the commencement of their course. Other key policies and guidelines include:

• Academic Integrity Policy and Procedure
• Student Assessment (Coursework) Policy and Procedure
• Extenuating Circumstances Application
• Student Surveys and Evaluations
• Deferred Examinations
• Student Complaint Resolution Policy and Procedure
• Code of practice for teaching and learning

Assessment Requirements

The ANU is using 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. For additional information regarding Turnitin please visit the Academic Skills website. In rare cases where online submission using Turnitin software is not technically possible; or where not using Turnitin software has been justified by the Course Convener and approved by the Associate Dean (Education) on the basis of the teaching model being employed; students shall submit assessment online via ‘Wattle’ outside of Turnitin, or failing that in hard copy, or through a combination of submission methods as approved by the Associate Dean (Education). The submission method is detailed below.

Moderation of Assessment

Marks that are allocated during Semester are to be considered provisional until formalised by the College examiners meeting at the end of each Semester. If appropriate, some moderation of marks might be applied prior to final results being released.

Examination(s)

There is no final examination for this course.

Assessment Task 1

Research topic for feedback

Details of Task: Short description of and motivation for proposed research topic for the other assessment tasks.

Nature of Task: Optional. This assessment task is designed to give students an opportunity to receive feedback on their progress in the course.

Weighting: 0%

Submission Requirements: Your submission must be made in a word processing file format (.doc, .docx). PDF files will not be accepted.

Word limit: 200 words. The ANU College of Law's Word Length and Excess Word penalties policy can be found here.

Due Date: 5pm, Tuesday 12 August 2025. Late submission is permitted by arrangement directly with the Convenor. Formal extension application with the College is NOT required.

Estimated return date: 26 August 2025.

Assessment criteria: Suitability of the proposed topic for the later assessments.

Assessment Task 2

Research Proposal

Details of Task: Research topic proposal identifying a current regulatory challenge and the economic theories which could be used to help address it.

Nature of Task: Compulsory and non-redeemable. Failure to submit this assessment will result in a mark of zero for this assessment task.

Weighting: 30%

Submission Requirements: Your submission must be made in a word processing file format (.doc, .docx). PDF files will not be accepted.

Word limit: 1800 words. The ANU College of Law's Word Length and Excess Word penalties policy can be found here.

Referencing Requirements: Full citation should be provided for each source included in the Annotated Bibliography. In-text citation plus Bibliography can be used to cite other papers when discussing the sources. Footnotes should be used for the referencing of all sources. All references should be compliant with the current edition of the Australian Guide to Legal Citation.

Due Date: 5pm, Tuesday 16 September 2025. Late submission (without an extension) is permitted, although late penalties will apply.

Estimated return date: 30 September 2025.

Assessment criteria: An assessment rubric will be available in Canvas.

Assessment Task 3

Annotated Bibliography

Details of Task: Annotated bibliography of empirical literature of relevance to the regulatory challenge identified in Assessment Task 1.

Nature of Task: Compulsory and non-redeemable. Failure to submit this assessment will result in a mark of zero for this assessment task.

Weighting: 20%

Submission Requirements: Your submission must be made in a word processing file format (.doc, .docx). PDF files will not be accepted.

Word limit: 1200 words. Word count includes full citations to the sources included in the Annotated Bibliography. The ANU College of Law's Word Length and Excess Word penalties policy can be found here.

Referencing Requirements: In-text citations must be used to an academic standard, but students may choose their preferred style (e.g. footnotes or "author, date"). Footnotes should be used for the referencing of all sources. All references should be compliant with the current edition of the Australian Guide to Legal Citation.

Due Date: 5pm, Tuesday 7 October 2025. Late submission (without an extension) is permitted, although late penalties will apply.

Estimated return date: 11 November 2025.

Assessment criteria: An assessment rubric will be available in Canvas.

Assessment Task 4

Research Essay

Details of Task: Research paper drawing on economic theory and evidence to propose and justify a response to a current regulatory challenge.

Nature of Task: Compulsory and non-redeemable. Failure to submit this assessment will result in a mark of zero for this assessment task.

Weighting: 50%

Submission Requirements: Your submission must be made in a word processing file format (.doc, .docx). PDF files will not be accepted.

Word limit: 3,000 words. The ANU College of Law's Word Length and Excess Word penalties policy can be found here.

Referencing requirements: In-text citations must be used to an academic standard, but students may choose their preferred style (e.g. footnotes or "author, date"). Footnotes should be used for the referencing of all sources. All references should be compliant with the current edition of the Australian Guide to Legal Citation.

Due Date: 5pm, Tuesday 4 November 2025. Late submission (without an extension) is permitted, although late penalties will apply. Please be aware that if you are in your final course(s), any late submissions may delay your conferral date.

Estimated return date: Official end of semester results release date.

Assessment criteria: An assessment rubric will be available in Canvas.

Academic Integrity

Academic integrity is a core part of the ANU culture as a community of scholars. The University’s students are an integral part of that community. The academic integrity principle commits all students to engage in academic work in ways that are consistent with, and actively support, academic integrity, and to uphold this commitment by behaving honestly, responsibly and ethically, and with respect and fairness, in scholarly practice.

The University expects all staff and students to be familiar with the academic integrity principle, the Academic Integrity Rule 2021, the Policy: Student Academic Integrity and Procedure: Student Academic Integrity, and to uphold high standards of academic integrity to ensure the quality and value of our qualifications.

The Academic Integrity Rule 2021 is a legal document that the University uses to promote academic integrity, and manage breaches of the academic integrity principle. The Policy and Procedure support the Rule by outlining overarching principles, responsibilities and processes. The Academic Integrity Rule 2021 commences on 1 December 2021 and applies to courses commencing on or after that date, as well as to research conduct occurring on or after that date. Prior to this, the Academic Misconduct Rule 2015 applies.

 

The University commits to assisting all students to understand how to engage in academic work in ways that are consistent with, and actively support academic integrity. All coursework students must complete the online Academic Integrity Module (Epigeum), and Higher Degree Research (HDR) students are required to complete research integrity training. The Academic Integrity website provides information about services available to assist students with their assignments, examinations and other learning activities, as well as understanding and upholding academic integrity.

Online Submission

You will be required to electronically sign a declaration as part of the submission of your assignment. Please keep a copy of the assignment for your records. You must ensure that you upload the correct document on the specified submission due date and time. Any document modified after the due date and time will either incur a late penalty or will NOT be accepted. Unless an exemption has been approved by the Associate Dean (Education), submission must be through Turnitin in a word processing file format (.doc, .docx). Electronic copies in .pdf file format are not acceptable.

Hardcopy Submission

For some forms of assessment at ANU (hand written assignments, art works, laboratory notes, etc.) hard copy submission is appropriate when approved by the Associate Dean (Education). Hard copy submissions must utilise the Assignment Cover Sheet. Please keep a copy of tasks completed for your records.

Late Submission

Individual assessment tasks may or may not allow for late submission. Policy regarding late submission is detailed below:

• Late submission not permitted. If submission of assessment tasks without an extension after the due date is not permitted, a mark of 0 will be awarded.
• Late submission permitted. Late submission of assessment tasks without an extension are penalised at the rate of 5% of the possible marks available per working day or part thereof. Late submission of assessment tasks is not accepted after 10 working days after the due date, or on or after the date specified in the course outline for the return of the assessment item.
• Late submission is not accepted for tests or examinations.
• Late submission with an extension. To ensure equity for all students, the 5% penalty per working day for late submission of work does not apply if you have been granted an extension. Where an extension is granted, the revised due date and submission time will be provided in writing. Importantly, any revised due date is inclusive of weekends and public holidays. Regardless of which day of the week the revised due date falls on, students who submit after that date will be penalised by 5% of the possible marks available for the task per 24-hour period.

Referencing Requirements

The Academic Skills website has information to assist you with your writing and assessments. The website includes information about Academic Integrity including referencing requirements for different disciplines. There is also information on Plagiarism and different ways to use source material. Any use of artificial intelligence must be properly referenced. Failure to properly cite use of Generative AI will be considered a breach of academic integrity.

Returning Assignments

All marks and feedback will be provided by the return date listed in the class summary. 

Extensions and Penalties

Extensions and late submission of assessment pieces are covered by the Student Assessment (Coursework) Policy and Procedure. Extensions may be granted for assessment pieces that are not examinations or take-home examinations. If you need an extension, you must request an extension in writing on or before the due date. If you have documented and appropriate medical evidence that demonstrates you were not able to request an extension on or before the due date, you may be able to request it after the due date.

Resubmission of Assignments

A resubmission refers to the act of re-uploading a submission for an assessment task after an initial submission has already been made. This typically occurs when a student realises they have submitted an incorrect or incomplete document and wishes to upload the correct version.

Resubmissions are permitted up to the due date and time without penalty. After this point, any resubmissions will incur the relevant late penalty with no exceptions.

If you need to request that your original submission be deleted in order to resubmit, please email enquiries.law@anu.edu.au. Do not contact your course convenor directly regarding this matter.

Please note: If a task states that no late submissions are permitted, then resubmissions will not be accepted under any circumstances after the due date and time.

Privacy Notice

The ANU has made a number of third party, online, databases available for students to use. Use of each online database is conditional on student end users first agreeing to the database licensor’s terms of service and/or privacy policy. Students should read these carefully. In some cases student end users will be required to register an account with the database licensor and submit personal information, including their: first name; last name; ANU email address; and other information.
In cases where student end users are asked to submit ‘content’ to a database, such as an assignment or short answers, the database licensor may only use the student’s ‘content’ in accordance with the terms of service – including any (copyright) licence the student grants to the database licensor. Any personal information or content a student submits may be stored by the licensor, potentially offshore, and will be used to process the database service in accordance with the licensors terms of service and/or privacy policy.
If any student chooses not to agree to the database licensor’s terms of service or privacy policy, the student will not be able to access and use the database. In these circumstances students should contact their lecturer to enquire about alternative arrangements that are available.

Distribution of grades policy

Academic Quality Assurance Committee monitors the performance of students, including attrition, further study and employment rates and grade distribution, and College reports on quality assurance processes for assessment activities, including alignment with national and international disciplinary and interdisciplinary standards, as well as qualification type learning outcomes.

Since first semester 1994, ANU uses a grading scale for all courses. This grading scale is used by all academic areas of the University.

Support for students

The University offers students support through several different services. You may contact the services listed below directly or seek advice from your Course Convener, Student Administrators, or your College and Course representatives (if applicable).

• ANU Health, safety & wellbeing for medical services, counselling, mental health and spiritual support
• ANU Accessibility for students with a disability or ongoing or chronic illness
• ANU Dean of Students for confidential, impartial advice and help to resolve problems between students and the academic or administrative areas of the University
• ANU Academic Skills supports you make your own decisions about how you learn and manage your workload.
• ANU Counselling promotes, supports and enhances mental health and wellbeing within the University student community.
• ANUSA supports and represents all ANU students