Economics can be used to explain the workings of legal system and to analyse the effect legal rules have on human behaviour. This course introduces the concepts of law and economics. It is designed for law students with no background in economics. This course will start by introducing the basic principles of microeconomics that are useful for all law practitioners, regardless of specialty. Then, this course will introduce the applications of economic analysis to different areas of the law. This course does not require advanced mathematics knowledge. It focuses on the theoretical approaches to law instead of the empirical approaches. Where mathematics is used, it will mostly be basic graphical and algebraic analysis at secondary-school level.

Examination

Students will need to show their understanding, critical assessment and mastery of the foundational concepts of law and economics, and their interaction inter se.

Students are also expected to demonstrate their ability to muster her legal knowledge to address hypothetical problems.

To pass this course

Applicable to students admitted from Semester A 2022/23 to Summer Term 2024 

- Students must obtain an aggregate mark of 50% and a minimum of 50% in each of the coursework and the examination elements of the assessment.

Applicable to students admitted before Semester A 2022/23 and in Semester A 2024/25 and thereafter

- Students must obtain an aggregate mark of 40% and a minimum of 40% in each of the coursework and the examination elements of the assessment.