Introduction to Law and Economics

Economic Approach to Law- History and criticism; Interrelationship between Legal and Economic Process; Economic Efficiency in law and Economics; Market Failure; Coase Theorem and related ideas; Compensation Principle; Social Welfare Function.

Reading List

·        Burrows, P. & Veljanovski, C.G. (Eds.). (1981). The Economic Approach to Law. Butterworths, London.

·        Coase, R.H. (1993). Law and Economics at Chicago. Journal of Law and Economics, 36(1), 239-254.

·        Coase, R.H. (1960). The Problem of Social Cost. Journal of Law and Economics, 3, 1-44.

·        Cooter, R. & Ulen, T. (2012). Law and Economics. Addison‐Wesley (Pearson).

·        Miceli, T. J. (2004). The Economic Approach to Law. California: Stanford Economics and Finance.

·        Posner, R.A. (1998). Values and Consequences: An Introduction to the Economic Analysis of Law (Working Paper no 53). Coase-Sandor Institute for Law and Economics, The University of Chicago Law School.

·        Swanson, T.M. & Johnston, S. (1999). Global Environmental Problems and International Environmental Agreements, Edward Elgar, UK.

Law, Legal Institutions and Property

The Civil and Common law Traditions; The Federal and State Court Systems; The Nature of Legal Dispute; Legal Rules Evolution Process; An Economic Theory of Property; Economics of Intellectual Property.

Reading List

·        Cooter, R. & Ulen, T.(2012). Law and Economics. Addison‐Wesley (Pearson).

·        Jain, M.P. (1990). Outlines of Indian Legal History. N.M. Tripathi (P) Ltd., Bombay.

·        Miceli, T. J. (2004). The Economic Approach to Law. California: Stanford Economics and Finance.

·       Spitzer, M. & Hoffman, E. (1980). A Reply to Consumption Theory, Production and Ideology in the Coase Theorem. Southern California Law Review, 53(4), 1187-1214.

Economics of Tort Law

Defining of Tort Law; Economic Theory of Tort Liability; Applications of the Economic Theory of Tort Law;

Consumer Protection; Consumer Courts.

Reading List

·        Aggarwal, V.K. (2000). Bharat’s Consumer Protection (Law and Practice). B.L.H. Publishers Distributors Pvt. Ltd., New Delhi.

·        Cooter, R. & Ulen, T. (2012). Law and Economics. Addison‐Wesley (Pearson).

·        Kaplow, L. & Shavell, S. (1996). Property Rules versus Liability Rules: An Economic Analysis. Harvard Law Review, 109(4), 713-790.

·        Lando, H. (1997). An Attempt to Incorporate Fairness into an Economic Model of Tort Law. International Review of Law and Economics, 17(4), 575-587.

·        Miceli, T. J. (2004).The Economic Approach to Law. California: Stanford Economics and Finance.

Economic Role of Contract

Economic Theory of Contract; Remedies as Incentives; Formation Defenses and Performance Excuses; Applications of the Economic Theory of Contract.

Reading List

·        Ayres, I. & Gevtner, R. (1989). Filling Gaps in Incomplete Contracts: An Economic Theory of Default Rules. The Yale Law Journal, 99, 87-130.

·        Cooter, R. & Ulen, T. (2012). Law and Economics. Addison‐Wesley (Pearson).

·        Cornish, W.R. (2001). Intellectual Property. Universal Law Publishing, New Delhi.

·        Friedman, D. (1989). The Efficient Breach Fallacy. Journal of Legal Studies, 18(1), 1-24.

·        Miceli, T. J. (2004). The Economic Approach to Law. California: Stanford Economics and Finance.