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ANU Law School · ANU College of Law, Governance and Policy
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 Law Schools' 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.
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.
Learning outcomes 1, 2, 3, 4
- Classes offered in non-standard sessions will be taught semi-intensively with compulsory contact hours of approximately 36 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. Other Information NA
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.