Skip to main content
Unit of study_

Law and Economics - LAWS3447

Year - 2018

The aim of the unit of study is to provide an understanding of the economic analysis of law and to clarify fundamental differences between legal argument and the analysis of public policy. The unit defines the role of government within the framework of welfare economics and examines the social and economic effects of legal regimes within that framework. Particular attention is given to the concept of a competitive market, to the available empirical evidence on market failure, and to the need for government intervention in response to market failure and its negative consequences for social justice. Topics covered include: theoretical concepts of social justice; social insurance; externalities and the environment; monopoly regulation, tort rights and remedies; asymmetric information, adverse selection and moral hazard with applications to medical malpractice; agency, corporate governance and managerial incentives; family law; taxation; and the measurement of inequality.

Classes
2 x 2hr seminars/week for 10 weeks

Assessment
2 x 1000wd essays on a set problem (30%), class participation and presentation (10%) and 2hr exam (60%)

Additional information
This unit satisfies the Jurisprudence/Part 2 requirement of the LLB.

Prohibitions

LAWS3036 or LAWS5147

Details

Faculty: Sydney Law School

Semester 2

30 Jul 2018

Department/School: Law
Study Mode: Normal (lecture/lab/tutorial) day
Census Date: 31 Aug 2018
Unit of study level: Senior
Credit points: 6.0
EFTSL: 0.125
Available for study abroad and exchange: Yes
Faculty/department permission required? No
Location
Camperdown
More details
Unit of Study coordinator: Prof Patricia Apps
HECS Band: 3
Courses that offer this unit

Non-award/non-degree study If you wish to undertake one or more units of study (subjects) for your own interest but not towards a degree, you may enrol in single units as a non-award student. Cross-institutional study If you are from another Australian tertiary institution you may be permitted to undertake cross-institutional study in one or more units of study at the University of Sydney.

To help you understand common terms that we use at the University, we offer an online glossary.