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.
Unit details and rules
Academic unit | Law |
---|---|
Credit points | 6 |
Prerequisites
?
|
None |
Corequisites
?
|
None |
Prohibitions
?
|
LAWS5147 |
Assumed knowledge
?
|
None |
Available to study abroad and exchange students | Yes |
Teaching staff
Coordinator | Patricia Apps, patricia.apps@sydney.edu.au |
---|