ECONOMICS AND LAW
Learning outcomes of the course unit
Law&Economics and the Economic Analysis of Laws and Institution studies the legal behaviour and juridical-institutional codes and evaluates the social costs of institutional choices and regulations, preparing lawyers who will be able to comprehend how legal and institutional contexts modify incentive and affect socio-economic behaviour, and will also be able to evaluate legal codes and institutions (for example within the context of international bodies: WB, IMF). The course is not technical in nature and provides information useful for full comprehension of the issues covered. The course will provide in-depth analysis of public sector institutions and budgetary policy, dedicating special attention to efficiency and equity. Ample space will also be given property law, contracts, corporate theory and other legal questions. Finally, the efficacy of standards, laws and regulations necessarily depend on the approach of the socio-economic behaviour of citizens who are dependent on the incentives created by policy (enforcement).
Course contents summary
1. INTRODUCTION TO LEGAL AND INSTITUTIONAL ECONOMIC ANALYSIS
2. EFFICIENCY EQUITY AND WELFARE.
3. PROPERTY LAW AND EXTERNALITY
4. LAW ENFORCEMENT
5. RISK ALLOCATION AND STRATEGIC BEHAVIOURS
6. THE ECONOMIC VALUE OF LIFE
7. INTELLECTUAL PROPERTY AND RESEARCH
8. COMPETITION AND ANTITRUST
9. CONTRACTS, INCENTIVE, REGULATION AND CORPORATE THEORY.
10. CIVIL RESPONSIBILITY AND OTHER LEGAL PROBLEMS
D. FRIEDMAN, L'Ordine del diritto. Perche l'analisi economica puo servire al diritto, Il Mulino, Bologna, 2004