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ECO3033 Law and Economics

Units : 1
Faculty or Section : Faculty of Business, Education, Law and Arts
School or Department : School of Commerce


Pre-requisite: LAW1101 or LAW2224 or LAW5224

Other requisites

Students will require access to e-mail and have internet access to UConnect for this course.


Central to the understanding of law and economics is a set of fundamental economic concepts and tools of economic analysis. Concepts such as rationality and economic tools such as price theory, efficiency and market failure are introduced. These tools and concepts are then applied to legal issues such as property rights, contract law, criminal law, torts, and competitive markets. Law and economics offers a framework with which to model legal outcomes by bringing together legal theory and economic reasoning.

In this course, the economic way of thinking is applied to real world problems and policy issues and demonstrates the relevance of viewing legal rules from an economic perspective. Legal issues examined in the course include property law, tort law, contract law, criminal law and market regulation. The economic analysis of the law provides a unified vision of the law, tying together diverse areas of law into a common theoretical structure.

Course offers

Semester Mode Campus
Semester 3, 2014 External