Legal Method and Law and Economics

Introduction

The course introduces two subjects; the legal method (12 hours) and Law and economics, including economic theory (18 hours). The last 6 hours both course coordinators will take part in the teaching and address the mixture of the two – what is the relevance and weight of economic arguments/ aspects when interpreting Norwegian law? We will also discuss ethical aspects and explore alternatives to efficiency and law and economics aims for legal statements.

The legal method part will ensure that the student acquires knowledge on how legal reasoning takes place. During the course, the student will learn to identify legal issues in a case, how to find a legal basis (and hence the; learn how to find a rule through the interpretation doctrine), set up a discussion, subsume, and conclude in a case. The course will also give the student knowledge about legal concepts, provide information about the different legal sources, how to weigh the sources, and offer insight into the doctrine of relevance and weight. Introduction in the legal method will also include knowledge about EU-law and its influence on "the Norwegian legal method."

The exchange of goods and services are fundamental for value creation in modern economies. Legal norms and systems (including enforcement mechanisms) are formal institutions of importance for the coordination of economic activities and use of resources, whether through markets or in organizations. The course aims to combine the two disciplines of economics and law to examine fundamental rules governing the economy.

Legal rules of property, contract and tort law incentivize individuals’ behavior. The course employs basic microeconomic theory to analyze how legal rules affect the behavior of individuals and firms and the development of the economy. This insight is also crucial for individuals and firms when choosing a contract and choosing an organization or a company form.

Topics to be covered include the economic impact of law institutions such as district court, contract law, compensation (in and out of contract), intellectual property rights and the regulation of anti-competitive conduct (the competition law). The interaction with industry regulation and public law subjects such as tax and environmental law is considered.

Course content

• Law and fairness
• The legal system,
• Traditional, modern Norwegian legal method
• Relevant legal sources, the interpretation doctrine, the doctrine on relevance and weight
• The Competition law
• Transaction costs and the Coase theorem.