OPPORTUNITIES FOR FURTHER STUDY IN LAW AND ECONOMICS

Compiled by Bernard Robertson

New Zealand - Extramural or Block Release Papers

Masters level

University of Auckland

In 2009 Dr George Barker, director of the Centre for Law and Economics at ANU, will teach an intensive LLM paper on law and economics. The paper will be in the second semester and is worth 25% of a year’s work. The intensive teaching period is 7 – 13 October 2009. Anyone interested should contact the Faculty of Law at the University of Auckland. The paper can be credited to an LLM or other qualifications at Auckland or to other qualifications. Members of LEANZ interested in taking this paper are also invited to contact the President of LEANZ as LEANZ may take some decisions on supporting this paper.

Massey University

The main opportunity for part-time study in law and economics is the Massey University DipBusAdmin/MPhil. This is a two year (full time equivalent) degree in which one does 120 points in taught papers (sufficient for DipBusAdmin) followed by a 120 point thesis to complete the MPhil. An economist with no law degree would take Fundamentals of Law and three other law or dispute resolution papers followed by a law and econ thesis. A lawyer with no economics degree could take Economics for non-economists followed by certain other economics papers and then the thesis. A graduate in both can pitch straight into a combination of law (or dispute resolution) and economics papers followed by the thesis. An economist who has done only a 3 year degree will be required to do an additional 120 points before enrolling for the MPhil. This could be done by taking Business Law and Dispute Resolution papers enabling a combination of law papers and economics papers in the MPhil.

University of Waikato

ECON526 - Law and Economics

This module will apply microeconomic analysis to common law and to statute law. It will analyse selected issues in property law, contact law tort, criminal law and international law.

Law and Economics is an increasingly important area of economics which involves the application of microeconomic theory and statistical methods to examine the formation, structure, processes and impact of law and legal institutions. Law and economics includes those areas of law that directly affect markets or economic activity, such as the effect of law on competition, industry regulation and trade law. In recent decades the most innovative extension of economics has been the 'new' law and economics. This examines the entire legal and regulatory system regardless of whether the law controls economic relationships.

New Zealand - Papers Available to Internal Students in 2008

There are numerous papers taught at Law Faculties, economics departments and commercial or business law departments of potential interest to those with background in both law and economics. This page lists only papers specifically intended to teach law and economics to those with background in only one of the two subjects.

University of Auckland

ECON 303 Law and Economics - Basil Sharp

http://www.business.auckland.ac.nz/comwebContent/sitemanager/index.cfm?fs=pgv&pageid=17445&pD=13407&courseid=221

DipLaw (one year)

The Auckland law faculty offers a one year DipLaw consisting of a mix of LLB and LLM papers for graduates in other disciplines.

Victoria University of Wellington

LAWS 335/ECON 330 Law and Economics - Lew Evans

http://www.victoria.ac.nz/home/study/subjects/coursecatalogue.aspx?course=LAWS-335&t=_2008&res=d

http://www.victoria.ac.nz/home/study/subjects/coursecatalogue.aspx?course=ECON-330&t=_2008&res=d

DipLaw (one year)

The Victoria law faculty offers a one year DipLaw consisting of a mix of LLB and LLM papers for graduates in other disciplines. VUW also offers a CertLaw consisting entirely or mainly of LLB papers. A first year legal system paper must usually have been passed first, but does not count towards the points required for the Diploma or Certificate.

Canterbury University

ECON 224 Economics of Current Policy Issues - Eric Crampton

http://www.canterbury.ac.nz/courseinfo/GetCourseDetails.aspx?course=ECON224&occurrence=&year=2006

This course is also discussed in the November LEANZ newsletter.

ECON 327 Economic analysis of law - Assoc Prof Alan Woodfield

http://www.canterbury.ac.nz/courseinfo/GetCourseDetails.aspx?course=ECON327&occurrence=&year=2006

University of Waikato

ECON217 and ECON317 Economics, Law and Policy

An introduction to the application of economic reasoning and techniques in the study of policy issues in law. Areas covered include property law, contracts, tort law and criminal law.

Aim: To introduce students to the application of economic reasoning and techniques in the study of policy issues in law.

Content: The economic analysis of law involves the application of economic reasoning and techniques to policy issues in various legal areas including property law, contracts, tort law and criminal law. The paper will analyse legal rules and policies in terms of their costs and benefits and their effects on individual behaviour.

International

Short courses

The Mises Institute, Auburn, Alabama

www.mises.org

Mises offers:

(1) a summer Mises University a one week intensive course in Austrian economics designed primarily for economics graduates but will take lawyers with some economics background. Austrian economics is much more integratable with law than neo-classical economics and leads to a law'n'economics approach rather than a Law and Economics approach. The syllabus of the week is heavily concerned with law and economics topics such as the role of the state and market regulation. A prime attraction for lawyers is that Austrian economists do not go in for maths, statistics or empirical research but base their theories on logical deduction from premises.       

(2) a self study course in Austrian economics, 52 hours of lecture on CD together with substantial amount of reading material and a shelf of books. The course can be bought and used by oneself, or for a substantial extra payment one can obtain on line tuition.

Degree programmes in law for economists and in law and economics for law graduates

EUROPEAN UNION

European Masters in Law and Economics

A one year LLM in which one can study at two or three universities in Europe (incl UK). All teaching and assessment is in English. In the first two terms seminars are available in the same basic law and economics subjects at all the participating universities. In the third term one completes a thesis and attends one or two seminars which differ from university to university. In the October term, one studies at Rotterdam, Hamburg or Bologna: in the January term at Ghent, Hamburg or Bologna. In the May term, seminars and supervision are offered in Aix-en-Provence, Bologna, Hamburg, Link�ping/Stockholm, Madrid, Manchester, Rotterdam and Vienna. The exact degree received depends on the university attended in the third term. The programme is explained at http://www.emle.org/index_org.html. It is possible to proceed to a PhD based at Hamburg or Bologna with some study at the other of the two

College of Europe at Bruges, Belgium

Good working knowledge of French required, language brushing up available. Offers a one year, three term, LLM in EU law and MAs in economics, politics, and international relations. Given the nature of EU law, both the law and economics syllabuses are quite “law and economics” oriented but LLM and MA(Econ) students can opt for a “law and economics” specialisation. The course follows the common European pattern of two terms of seminars followed by a third term of dissertation writing. All students take some interdisciplinary seminars, mainly in the first term. “Law and economics” students take papers from the law and economics syllabuses together with special joint seminars. EU citizens can apply via a national selection committee, otherwise one applies directly to the College. Alberto Costi at VUW law faculty is a graduate of the College. By tradition the College is the breeding ground for future top EU public servants and is said to have a freemason-like alumni association!

College of Europe, Natolin, Warsaw

Good working knowledge of French required, language brushing up available. The College of Europe Natolin campus teaches a one year, two semester, MA. The first semester all students follow a common multidisciplinary course in the law, economics, politics and history of european integration. In the second semester students choose one of five special topics, all of which have some law and economics content, but the topic The Single Market has an entirely law and economics syllabus. Admission as per Bruges.

European University Institute, Florence

Working knowledge of a second EU language required, language training available. The EUI is primarily a research institution offering PhDs in politics, law, economics and history. The law department also offers a one year, three term, LLM. Unlike the College of Europe, it is not focused on the exposition of EU law but has a more general and comparative approach. The focus has recently become very much on private law, regulation and law and economics. The first two terms of the LLM are spent taking a research seminar, an advanced course and three other seminars and the third term spent on writing a dissertation. Of the four advanced courses on offer this year, one is a law and economics course and so are several of the seminars. There are also research and working groups which LLM students can attend, including a working group on law and economics. All teaching is in English but students are required to complete at least one assessed item (which may be a literature review) in another EU language. Andrew Butler of Russell McVeagh is a graduate of the EUI.

GERMANY

Frankfurt

A highly practice-oriented LLM. The Institute for Law and Finance at the University of Frankfurt offers an LLM which includes economic, financial and practical business angles. The focus is on financial regulation, but with a deliberately international and principled approach, not an EU slant. Some economics and finance papers must be taken and economic analysis is built in to the law papers. All teaching is in English but a two month internship must be completed in one of the international organizations, German organizations or a law firm in Frankfurt.

Bucerius Law School, Hamburg

Offers a one year LLM in law and business which includes law, economics and finance papers.

NETHERLANDS

Utrecht

Offers an LLM in Law and Economics consisting of a paper on Law and Economics theory, a microeconomics paper and electives in competition law, business regulation, international trade etc. This is a state-subsidised course and so fees, even for non-EU students, are lower than for the LLM in Global Business Law, which is law and economics oriented, and there are opportunities for fee waivers and grants in some circumstances.

SWITZERLAND

World Trade Institute, University of Berne

The Institute teaches a one year Master of International Law and Economics (MILE) which is of unusual structure. All students follow the same course of seminars for three terms and then have three months in which to write a thesis. The seminar courses are in weekly modules following a logical progression starting with modules in microeconomics and in international law and then moving on to more detailed aspects of international trade regulation. The institute itself cannot offer progression to doctorate level but one can move into other departments of the university after the MILE. A feature of the weekly module system is that practitioners, professionals and others can attend individual modules and so a wide range of people may be met at various times. The Institute offers other short courses and international forums, a five week summer school and a distance learning diploma which requires one week of attendance at the Institute.

UNITED KINGDOM

Dundee

The Centre for Energy, Petroleum and Mineral Law and Policy offers LLM and PhD degrees by research thesis in its areas of environmental and natural resource law and encourages interdisciplinary approaches. This law school is very small by international standards, about the size of Canterbury but is of course located at a centre of activity in the energy and petroleum industries.

London, Intercollegiate

The LLM is offered jointly by all the University of London law schools except LSE: ie University College, London, Queen Mary and Westfield, King's College, London and the School of Oriental and African Studies. In practice LLM students spend most of their time at the Institute of Advanced Legal Studies, an intercollegiate postgraduate facility. A vast range of papers is offered including an Economic Methods for Lawyers paper and papers on competition law, market regulation and intellectual property which specifically include economics. Students must register at one of the four schools, which must offer two of the law papers being taken, which can include a dissertation. It is also possible to take one economics paper in place of a law paper from the economics department of the school at which the student is registered but the structure of the economics degrees differs from the LLM which may restrict the choice of economics papers available. For economists, each of the four colleges teaches its own Masters degrees in economics and each has its own rules and practice about crediting in an LLM paper or half paper.

Oxford

The Law Faculty is developing a Masters in Law and Finance, to be offered in an alliance with the Said Business School from October 2010 for graduates in law or business/economics. The syllabus will consist of two new papers 'Law and Economics of Corporate Transactions' and 'Securities Regulation' which are taught through the year and classes in micro-economics and finance which start at a basic level and progress to more specialized material. Progress to DPhil will be possible but there is not yet any arrangement for a one year extension to MPhil. The two new papers will also be available in the BCL, so from 2010 by combining them with competition law, property rights and other papers one will be able to create a law and economics oriented BCL. After the BCL a one year extension to obtain an MPhil by a thesis is possible. Professor John Armour is newly arrived and would be interested to supervise students taking research degrees in law and economics.

London School of Economics

There is no special law and economics programme but the LLM can be taken in law and economics oriented subjects and one out of four papers can be taken from the economics MSc syllabus. There is also a one year MSc in Economics and Philosophy to which it is possible to give a jurisprudential bent.

Cambridge

The Cambridge Law Faculty is not law and economics oriented, although there is an LLM paper on “Political theory and private law” which examines law and economics. However, the Department of Land Economy offers a one year MPhil in environmental policy and planning-related subjects based on law, economics and other disciplines.

UNITED STATES

Focussed study of law and economics mainly means study in the US. But LLMs at most US Law Schools simply take the form of attending JD classes. Little special provision is made for LLM students at many law schools.

US News and World Report rates law schools but its attention is entirely on the JD. That is not entirely irrelevant as the top staff will gravitate to the top schools but if no special provision is made for LLM students they may find themselves in JD classes taught mostly by teaching assistants. Another ranking possibly of more interest to post-graduates is available at http://www.leiterrankings.com/faculty/2007faculty_impact.shtml

Most US law schools have a paper called Law and Economics which can be taken in the LLM and/or allow a proportion of the LLM (25 -33% typically) to be taken in appropriate papers from other departments. If this is the only provision for Law and Economics then the school does not get into the list below which is a rough and incomplete ranking of LLMs at US law schools in accordance with perception of the extent to which they make special provision for LLM students and the extent to which Law and Economics is catered for. Comments and suggestions to Bernard.robertson@lexisnexis.co.nz are welcome.

Notes:

1. links are not provided as too many links leads to problems with sites not working or being transferred. In general universities can be found at www.name.edu. A list of all law school links appears at http://jurist.law.pitt.edu/lawschools/nz.php . Usually one then clicks on 'Academics' (which means the programmes not the staff) and then on 'LLM' or 'Advanced degrees' etc.

2. US law schools use 'programs'. This is a New Zealand commentary. The spelling 'program' is only used where the full proper title of a programme is given.

Yale (New Haven, CT)

The Yale LLM is without doubt the most prestigious in the US. Preselection is rigorous, only about 25 students are selected a year and they must indicate their intention to take up academic careers. They act as a cohort in many respects. Focus on law and economics is possible and the school as a whole is permeated with Law and Econ thinking. Up to 25% of the credits may be taken from graduate programmes in other schools, eg economics. LLM graduates can proceed to a one year thesis for a JSD, which can be completed away from Yale. Yale also offers an MSL degree (Master of Studies in Law) a one year degree in law that can be taken by graduates in other disciplines, eg economics.

George Mason (Washington DC for practical purposes)

Offers an LLM in Law and Economics (and an LLM in Intellectual Property). George Mason Economics Department is a hotbed of Austrian Economics. The Law School is co-located with the Mercatus Centre and the Institute of Humane Studies. The LLM syllabus includes papers on economic foundations, public choice, a number of law and economics electives and some free choice of electives from the JD. Conjoint LLB and economics graduates can take joint LLM/MA or LLM/PhD programmes in law and economics, and economics graduates can take the joint JM/PhD, the JM being like a Yale MSL. If you want to study Law'n'economics as opposed to economic analysis of law, this is the place. George Mason law school has risen steadily up the US News and World Report rankings in recent years and scores even more highly in the Leiter scholarly impact survey. George Mason law school also offers Levy Fellowships which enable economics PhDs to take a full three year JD on a stipend, see the LEANZ Home Page.

Vanderbilt (Nashville, TN)

The Southern equivalent of Ivy League. Has a specialized PhD programme in law and economics. LLM students are assigned to an individual staff member with whom they work out first the subject matter of a dissertation and then what seminars or classes will support that dissertation. A law and economics syllabus can be worked out. There is also a two-year LLM in Law and Business which is heavily oriented to topics of interest to law and economics students and a joint LLM/MA in Latin American studies which can be taken with an economics focus.

Tufts University (Medford MA)

Working knowledge of a second language required. The Fletcher School offers a two year MA in Law and Diplomacy and a one year LLM. The MA specialises in public and private international law. At least one paper has to be taken from each of the areas of Law, Economics, and International Relations, but the latter area includes papers on international political economy, the functioning of international economic institutions and so on. By combining relevant papers with an appropriate thesis one can effectively gain a degree in law and economics and in international law or in international economics. The LLM offers three specializations, one of which, International Economic Law, is a law and economics syllabus. Progress to PhD is possible.

Berkeley (University of California)

The Berkeley Centre for Law, Business and the Economy runs a Program in Law and Economics which provides a focus for LLM students who wish to take a number of law and econ oriented papers as well as sponsoring research seminars. The Centre also has some planned joint degree programmes for conjoint LLB and economics graduates such as the LLM/PhD in economics.

Columbia (New York City, NY)

Columbia's Centre for Law and Economic Studies sponsors research and conferences and also has some funding for LLM and JSD candidates who wish to work in law and economics. LLM students would be expected to take law and econ oriented JD papers and to take some credits in economics courses. JSD candidates need to be writing a dissertation on a subject of interest to the centre. The scheme assumes a need on the part of law graduates to spend time on economics course work, so a joint LLB/Economics graduate may be at an advantage.

Chicago

The Program in Law and Economics is run by Professor Richard Epstein but is a research oriented programme which would apply more to JSD students than LLM. There are many law and economics oriented JD papers for LLM students to take but little special provision is made for them. Funding is not usually available for LLM students but is available for LLM graduates to proceed to JSD. The LLM is limited to 50 students who are encouraged to engage in some special activities.

Stanford (Palo Alto, CA)

The West Coast equivalent of Ivy League. There are two LLM programmes, the LLM in Law, Science and Technology and the LLM in Corporate Governance and Practice, both offering many papers of interest to law and economics students. LLM students at Stanford can attend the Law and Economics programme research seminars and earn credits toward their LLM. Only about 10 LLM students are enrolled in each programme each year. Potential academics who want to proceed to the JSD have to take their masters degree through the Stanford Program in International Legal Studies leading to a JSM degree.

Harvard (Cambridge, MA)

Some 150 students take the Harvard LLM each year, making it quite different in character from any other US LLM. Students attend JD classes which are often taught by teaching assistants rather than the professor in charge. Harvard has all the advantages and disadvantages of size. There is a huge range of papers on offer and so it is possible to focus on law and economics. There is a general Economic Analysis of Law paper and a quantitative paper as well as specific papers on competition law etc. Law and economics students can also attend the law and economics research seminars and earn credit for attendance. There is a heavy public policy bent to the teaching in both law and economics and a relationship with the Kennedy School of Government. The top students can proceed to SJD by thesis.

New York University (New York City, NY)

NYU economics department traditionally has strength in Austrian Economics. In the LLM teaching is permeated with law and economics. NYU law faculty does have a special programme aimed at those who intend to become academics.

Virginia (Richmond, VA)

The Program in Law and Economics runs regular research seminars which LLM students can attend but not credit and also a few two week intensive seminars each year taught by visitors from other universities which can be credited to the LLM.

Top | About LEANZ | Members Only | Join LEANZ | Seminars | Links | Contact | Search | Home

© 2002-2005 Law & Economic Association of New Zealand. Site designed by e-Xpert and powered by MOST.