Law and Economics
In the Law and Economics course, methods and analytical tools commonly used in economics are applied to produce explanations for both the development of law and the effects of law.
Normative studies are carried out in order to establish a basis for evaluating which rules to choose in order to obtain efficient use of resources and a preferred distribution of goods. Various rules are regarded as incentives to which rational actors adapt. The quality of the results is assessed on the basis of the welfare theory developed in economics. Issues related to efficiency and distribution are studied not only within market related disciplines such as contract law, property law and competition law, but also within family law, civil procedure, general deterrence, etc. Law and Economics is not firmly linked to national law, it is fundamentally international in nature. Furthermore, the discipline transcends traditional classifications of law in the sense that solutions to environmental problems, for example, are sought both within private law and public law.