Excerpt from course description

Law, Business and Society


This bachelor's course aims to provide students with an introduction to the fundamental legal prerequisites for economic activity and societal organization, and how these prerequisites have evolved over time. The course provides basic legal knowledge, including key features of the rule of law and legal regulations, law in society, and international perspectives. Furthermore, the course provides students with a comprehensive understanding of the historical development of capitalism and the modern market economy, the role of companies and other entities in the economy, how these companies and entities have evolved over time, and the various types of entities operating in the economy today. Students are also expected to have an understanding of the main features of the development of the global economy, including central driving forces, legal prerequisites, and consequences.

Course content

Part 1:The economy, firms and markets in an international perspective

  • Economic growth and economic inequality in a historical perspective.
  • The emergence and development of capitalism and the market economy.
  • What is a company and where does it come from?
  • Who is the company for? What are the company's basic goals? Various stakeholders in companies.
  • Evolution in the organization and ownership of companies.
  • Certain fundamental features of different types of ownership forms (sole proprietorship, partnership, cooperative companies, self-owned enterprises, limited liability companies, public limited companies, foundations, etc.).
  • Further details about limited liability companies and public limited companies today, and the legal regulation of these company forms.
  • What is a "free market"? The market as a legal, social, and cultural system.
  • The rise of the global economy.
  • Consequences of economic growth for climate, environment, and development of prosperity.

Part 2: The principles of the rule of law and historical development

  • The idea and basic principles of the rule of law (including the principle of separation of powers, the principle of popular sovereignty as well as freedom of speech, religion and assembly, but also other central principles such as the principle of legality, legal certainty and conditions for preserving the legitimacy of the court).
  • The rise of the rule of law nationally and internationally.
  • What is the function of the court in the economy?
  • The relationship between public law and private law
  • Who enforces the rule of law (legislative power, courts, mediation schemes, public supervision, the EU system and Norway)
  • The legislative process in Norway
  • The internationalization of law.


This is an excerpt from the complete course description for the course. If you are an active student at BI, you can find the complete course descriptions with information on eg. learning goals, learning process, curriculum and exam at portal.bi.no. We reserve the right to make changes to this description.