Eight shared courses
All five first term courses in Haifa, Rotterdam and Hamburg are the same across the different partner Universities. In the second term, three courses are the same for each University (Ghent, Hamburg and Rotterdam). You can find out more about the shared courses below.
First term courses
Foundations of Law and Economics
The course Foundations of Law and Economics consists of two modules: Introduction to Law and Introduction to Microeconomics.
Introduction to Law (2 ECTS)
This course provides a general introduction to the law and to the study of law. Students will become acquainted with the main fields of law: private law, criminal law, constitutional and administrative law. Specific attention will be paid to the basic differences between common law and civil law systems and to the relationship between national laws and European law. Besides the study and discussion of literature, students will train specific legal skills, such as the use of statutes, the analysis of judgments and the solution of legal cases. This course seeks to:
Harmonize levels of understanding of law among lawyers and economists in the EMLE programme
Facilitate among lawyers from various countries an understanding of basic legal concepts and doctrines across legal systems
Introduce both lawyers & economists to legal concepts and methods that are instrumental in the field of law and economics
Introduction to Microeconomics (2 ECTS)
Economic analysis of law investigates legal rules and enforcement from an efficiency perspective. The main purpose of this course is to equip students with the fundamental set of conceptual tools of microeconomics, which can be applied to different economic and regulatory problems. After dwelling into the analytics of consumers’ and producers’ choice, the course discusses the main market structures, risk and uncertainty, and market failures.
Concepts and Methods of Law and Economics (4 ECTS)
This course offers an introduction to the basic concepts and methods of law and economics. It illustrates the broad utility of these tools by way of applications to the analysis of various core areas of law. This course does not aim to develop practical skills or new insights, but rather to show the broad utility of economic analysis of law. By combining examples from various areas of law, students will learn that the economic approach to law provides a unified vision of the law, tying together diverse areas of the law into a common theoretical structure.
Economic Analysis of Public Law (4 ECTS)
This course offers an introduction to the economic analysis of regulation, which is broadly interpreted as government intervention in market processes. The course illustrates the purposes of regulatory intervention from a welfare economics perspective, and it discusses the tension between public and private interest in regulatory choices. A special focus of this course is on issues of European regulation and on cost-benefit analysis.
Economic Analysis of Private Law (8 ECTS)
This double course aims at giving students an overview of the most important insights from the economic analysis of private law. It combines economic analysis of property law, tort law, and contract law. As far as property law is concerned, the course integrates the legal and the economic approach to ownership and illustrates costs and benefits of different ways to protect entitlements. As far as tort law is concerned, the course offers a comparative analysis of the legal principles from an economic perspective, particularly regarding the structure of liability, the damage compensation, and the insurance. As far as contract law is concerned, the course illustrates its goals and functions from an economic perspective. Moreover, it aims to provide a functional understanding of the spectrum of feasible contracts and of their use in legal practice.
Second term courses
In addition to the common courses below, each second term university provides two unique courses following the specialization track. More information about these are given in the other tabs.
Empirical Legal Studies (4 ECTS)
Modern law and economics is unthinkable without empirical tests. This course makes students familiar with the most important aspects of such tests from the design stage, to the collection of data to the actual estimate of simple econometric models. It is a “hands on” course including many practical exercises. Students of this course will learn to:
- Think creatively about research design
- Describe the data
- Run OLS regressions
- Interpret the data as it relates to causality
Corporate Governance and Finance (4 ECTS)
Economic efficiency may be undermined by misallocation of financial resources. This course discusses corporate law and financial regulation from the perspective of the correction of financial markets failure. The course focuses on the various legal, contractual and extra-legal mechanisms available to protect (minority) shareholders and other stakeholders from the self-serving behaviour of managers and of controlling shareholders. Moreover, the course addresses the problem of financial distress and its consequences for the financing of private and public enterprises, as well as for financial stability.
Competition Law & Economics (4 ECTS)
Competition policy (also called “antitrust policy”) is a term used broadly to describe intervention by public authorities to ensure competition in markets for goods and services. This course aims at making students familiar with the application of economic arguments in European competition law. Comparisons with U.S. antitrust law are included where appropriate for a better understanding of cases and the implications of legislation and court rulings on economic efficiency.