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ECO3033 Law and Economics

Short Description: Law and Economics
Units : 1
Faculty or Section : Faculty of Business, Education, Law and Arts
School or Department : School of Commerce
Student contribution band : Band 3
ASCED code : 091901 - Economics
Grading basis : Graded

Other requisites

Students are required to have access to a personal computer, e-mail capabilities and Internet access to UConnect. Current details of computer requirements can be found at


Central to the understanding of law and economics is a set of fundamental economic concepts and tools of economic analysis. Concepts such as rationality and economic tools such as price theory, efficiency and market failure are introduced. These tools and concepts are then applied to legal issues such as property rights, contract law, criminal law, torts, and competitive markets. Law and economics offers a framework with which to model legal outcomes by bringing together legal theory and economic reasoning.

In this course, the economic way of thinking is applied to real world problems and policy issues and demonstrates the relevance of viewing legal rules from an economic perspective. Legal issues examined in the course include property law, tort law, contract law, criminal law and market regulation. The economic analysis of the law provides a unified vision of the law, tying together diverse areas of law into a common theoretical structure.

Course offers

Semester Mode Campus
Semester 1, 2019 Online