312098 Ökonomische Analyse des Rechts II "Vertragstheorie" / Economic Analysis of Law "Contract Law" (V) (SoSe 2021)

Brief description
This course provides a clear introduction to economic analysis and its application to legal rules and institutions. It begins with an introductory overview of economic tools and their application to the legal environment, followed by economic theory of property law. Finally, the course proposes a focus on Pharmaceutical Industry and R&D of innovative drugs, as well as policy implications.

Course objectives
Students will understand how microeconomic theory can be used to critically evaluate law and public policy; and they will be able to apply economic concepts and methods in the analysis of regulations.

Organization
The course is split up between lectures on the core issues of the program and seminar sessions during which students have to contribute to the learning process by presenting scientific articles on selected relevant topics for the Law and Economics, and actively taking part in discussions concerning the proposed cases studies.

Assessment methods
An oral presentation of scientific articles during the course (first step), and the submission of an essay on selected topics at the end of the course (second step).

Prerequisites
None

Materials
Cooter, R., & Ulen, T. (2016). Law and economics. Addison-Wesley.
Selected journal articles on the core areas of law (i.e., property law), as well judiciary and institutional efficiency.