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Economic Analysis of Law: Corporations and Markets (LAWS0216)

This course provides an introduction to quantitative and qualitative methods widely used in economic analysis and applies them to problems of corporate and competition law, and financial regulation.

The aim of the module is to enable students to gain an understanding of basic methods widely used in economics analysis of law (optimization theory, descriptive statistics, estimation and regression analysis), apply these methods to topical issues of corporate law, financial regulation, and competition law, and engage critically with the relevant law, economics and finance literature.

Module syllabus (indicative)

  • Introduction to statistics and the law
  • The normal distribution
  • The chi-square distribution and anti-discrimination law
  • Bivariate regression and correlation
  • Multivariate regression in the law and applications (legal origins literature; damages quantification)
  • Law & Finance I: investor protection, firm performance and financial development
  • Law & Finance II: market efficiency and transparency
  • Derivatives and optimization
  • Example: Monopoly prices and optimization
  • Example: Jensen-Meckling Theory of the Firm

Recommended materials

Module reading lists and other module materials will be provided via online module pages, once students have made their module selections upon enrolment.

Preliminary reading

  • Cooter, Robert & Thomas Ulen, Law and Economics (6th ed., Pearson 2016)
  • Easterbrook, Frank H. & Daniel R. Fischel, The Economic Structure of Corporate Law (Harvard University Press 1991)
  • Finkelstein, Michael O & Bruce Levin, Statistics for Lawyers (3rd ed., Springer 2015)
  • Lawless, Robert, Jennifer Robbennolt & Thomas Ulen, Empirical Methods in Law (2nd ed., Wolters Kluwer 2016)
  • Shiller, Robert J., Irrational Exuberance (3rd ed., Princeton University Press 2015)
  • Thaler, Richard H, Misbehaving: The Making of Behavioural Economics (Norton 2015)

Key information

Module details
Credit value:15 credits (7.5 ECTS, 150 learning hours)
Convenor:Florian Wagner-von Papp;
Carsten Gerner-Beuerle
Other Teachers:None
Teaching Delivery:10 x 2-hour weekly seminars, Term Two
Who may enrol:Any UCL Master’s student
Prerequisites:Students must also complete either Economic Analysis of Law (LAWS0106) or Law, Economics and Society: The Foundations of Capitalism (LAWS0064) in Term One, unless you have completed a social science degree with quantitative elements.
Must not be taken with:None
Qualifying module for:LLM in Intellectual Property Law;
LLM in Law and Economics;
LLM in Corporate Law;
LLM in Competition Law;
LLM in International Banking and Finance Law
Assessment
Practice Assessment:Opportunity for feedback on one optional practice essay
Final Assessment:Exam (100%)