| Semester 1, 2020 Online | |
| 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 |
Staffing
Examiner:
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 .
Rationale
Law and Economics explores the application of economic principles and methods to the law and legal issues. The course develops knowledge about the interaction of the legal system and resource allocation through the study of law and economics. To this end, the economic analysis of law is founded on models of human behaviour and examines how decision making is affected by different legal regimes. In this course both positive and normative analysis will be used. Positive analysis is used to predict the consequences of legal rules and normative analysis is used, in particular, to evaluate the efficiency effects of legal rules.
Synopsis
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.
Objectives
On successful completion of this course students will have:
- the necessary knowledge to recognise the economic issues in a legal problem;
- an understanding of how to apply the economic way of thinking to analyse a legal problem;
- an understanding of how to assess the efficiency effects of legal rules and policies.
Topics
| Description | Weighting(%) | |
|---|---|---|
| 1. | Introduction to law and economics | 5.00 |
| 2. | Economic tools and techniques | 20.00 |
| 3. | Property rights | 15.00 |
| 4. | Contract law | 15.00 |
| 5. | Torts | 15.00 |
| 6. | Competitive markets | 15.00 |
| 7. | Criminal law, law enforcement and punishment | 15.00 |
Text and materials required to be purchased or accessed
ALL textbooks and materials available to be purchased can be sourced from (unless otherwise stated). (https://omnia.usq.edu.au/textbooks/?year=2020&sem=01&subject1=ECO3033)
Please for alternative purchase options from USQ Bookshop. (https://omnia.usq.edu.au/info/contact/)
Reference materials
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Student workload expectations
| Activity | Hours |
|---|---|
| Directed 精东传媒app | 70.00 |
| Independent 精东传媒app | 95.00 |
Assessment details
| Description | Marks out of | Wtg (%) | Due Date | Notes |
|---|---|---|---|---|
| ASSIGNMENT 1 | 30 | 30 | 26 Mar 2020 | (see note 1) |
| ASSIGNMENT 2 | 30 | 30 | 30 Apr 2020 | |
| TAKE HOME EXAM | 40 | 40 | End S1 | (see note 2) |
Notes
- Assignments 1 and 2 will be short-answer and essay-type questions.
- This will be a take home exam. Students will be provided further instruction regarding the exam by their examiner via 精东传媒appDesk. The examination date will be available via UConnect when the Alternate Assessment Schedule has been released.
Important assessment information
-
Attendance requirements:
There are no attendance requirements for this course. However, it is the students' responsibility to study all material provided to them or required to be accessed by them to maximise their chance of meeting the objectives of the course and to be informed of course-related activities and administration. -
Requirements for students to complete each assessment item satisfactorily:
Due to COVID-19 the requirements for S1 2020 are: To satisfactorily complete an individual assessment item a student must achieve at least 50% of the marks for that item.
Requirements after S1, 2020:
To satisfactorily complete an individual assessment item a student must achieve at least 50% of the marks. Depending upon the requirements in Statement 4 below, students may not have to satisfactorily complete each assessment item to receive a passing grade in this course. -
Penalties for late submission of required work:
Students should refer to the Assessment Procedure (point 4.2.4) -
Requirements for student to be awarded a passing grade in the course:
Due to COVID-19 the requirements for S1 2020 are: To be assured of receiving a passing grade a student must achieve at least 50% of the total weighted marks available for the course.
Requirements after S1, 2020:
To be assured of receiving a passing grade a student must achieve at least 50% of the total weighted marks available for the course. -
Method used to combine assessment results to attain final grade:
The final grades for students will be assigned on the basis of the aggregate of the weighted marks obtained for each of the summative assessment items in the course. -
Examination information:
Due to COVID-19 the requirements for S1 2020 are: An Open Examination is one in which candidates may have access to any printed or written material and a calculator during the examination
Requirements after S1, 2020:
This will be an open examination. Candidates may have access to any printed or written material and a calculator during the examination. -
Examination period when Deferred/Supplementary examinations will be held:
Due to COVID-19 the requirements for S1 2020 are: The details regarding deferred/supplementary examinations will be communicated at a later date.
Requirements after S1, 2020:
Any Deferred or Supplementary examinations for this course will be held during the next examination period. -
精东传媒app Student Policies:
Students should read the USQ policies: Definitions, Assessment and Student Academic Misconduct to avoid actions which might contravene 精东传媒app policies and practices. These policies can be found at .
Assessment notes
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Referencing in assignments:
Students studying this course as part of a Bachelor of Laws or Juris Doctor degree must use the Australian Guide to Legal Citation (AGLC) style. Students who are not enrolled in a Bachelor of Laws or Juris Doctor degree may use either Harvard (AGPS) or the Australian Guide to Legal Citation (AGLC) in their assignments to format details of the information sources they have cited in their work. For AGLC style guide enquiries, consult the AGLC manual from the USQ Library's referencing guide at or contact the Law librarian. The Harvard (AGPS) style to be used is defined by the USQ Library's referencing guide at .