ULMS Electronic Module Catalogue

The information contained in this module specification was correct at the time of publication but may be subject to change, either during the session because of unforeseen circumstances, or following review of the module at the end of the session. Queries about the module should be directed to the member of staff with responsibility for the module.
Code BLEL701

Year CATS Level Semester CATS Value
Session 2021-22 Level 7 FHEQ First Semester 15

Pre-requisites before taking this module (other modules and/or general educational/academic requirements):


Modules for which this module is a pre-requisite:


Programme(s) (including Year of Study) to which this module is available on a required basis:


Programme(s) (including Year of Study) to which this module is available on an optional basis:


Teaching Schedule

  Lectures Seminars Tutorials Lab Practicals Fieldwork Placement Other TOTAL
Study Hours   24

Timetable (if known)              
Private Study 126


EXAM Duration Timing
% of
Penalty for late
CONTINUOUS Duration Timing
% of
Penalty for late
Coursework There is a resit opportunity. Standard UoL penalty applies for late submission. This is an anonymous assessment. Assessment Schedule (When) :Semester 1  5000 words    100       


1) The central aim of this module is to develop basic student understanding regarding the economic analysis of law and to create students ability to think critically about law through the lens of economic concepts and models. 2) The broader aim of the module is to contribute to the development of working student knowledge with regard to the operation of the legal system surrounding business enterprises in general and its economic analysis. 3) A more general aim of the module is to develop student knowledge and legal skills which they can utilise in the future irrespective of whether they chose a career in practice, in academia or in other fields. In particular this truly interdisciplinary module will familiarise students with the concepts, terminology and methodology of a different discipline. This will contribute significantly to students' communication skills and critical analysis skills. This will also enable students to communicate and work effectively with colleagues train ed in another discipline and solve common problems together.

Learning Outcomes

(LO1) Students will develop awareness of basic economics concepts, such as efficiency, externalities, collective action problems, principal-agent problems, moral hazard, information asymmetries, ex post and ex ante, game theory and transaction costs

(LO2) Students will develop an ability to think critically about law and legal system through lens of these economic concepts and models

(LO3) Students will develop awareness of the key objectives and functions of economics as a discipline. More specifically at the end of the module, students should be aware that economics deals with all kinds of human behaviour, thus, it might be helpful in the explanation and solution of all kinds of legal problems, including those in public law subjects. This contrary to the common assumption, economics is not only about markets and commercial activities.

(LO4) Students will develop an appreciation that using economic concepts in a simple way may contribute to the stregth of legal argumentation (Thus, students should be aware that the module does not only engage in a theoretical debate, but skills developed in this course will be highly relevant and useful in their professional life).

(LO5) Students will develop a sensitivity to spot the aspects of economics involved in daily life situations and the strength of economic concepts in explaining those situations

(S1) Communication (oral, written and visual) - Presentation skills – oral

(S2) Improving own learning/performance - Reflective practice

(S3) Communication (oral, written and visual) - Presentation skills - written

(S4) Communication (oral, written and visual) - Academic writing (inc. referencing skills)

(S5) Critical thinking and problem solving - Critical analysis

(S6) Information skills - Critical reading

(S7) Research skills - All information skills

(S8) Global citizenship - Relevant economic/political understanding

(S9) Economic awareness - Relevant understanding of the economic environment in which the legal system operates

(S10) Commercial awareness - Relevant understanding of economic organisations

Teaching and Learning Strategies

Teaching Method 1 - Seminar
Description: Interactive seminars to which students will prepare for with self-study.
Attendance Recorded: Yes
Notes: The course will be taught through 12 interactive seminars (total 24 hours) in which students will have a structured discussion of the seminar's topic.

Self-Directed Learning Description: Students will be provided a reading list before each seminar. They will also be provided a list of key questions to direct their self-learning activity. The discussion of these questions will provide the main structure of the seminar discussion.



1) Introduction: What is Law and Economics? 2) Methodology I (Positive and Normative Law & Economics) 3) Methodology II (concepts: efficiency, markets & market failures, externalities and methods to deal with them) 4) Methodology III (concepts: risk, moral hazard, rent-seeking) 5) Law and Economics of Property Law (General) 6) Law and Economics of Intellectual Property Law (Patents & Copyrights) 7) Law and Economics of Contract Law I (General) 8) Law and Economics of Contract Law II (application to a business relation and the breach of contracts) 9) Law and Economics of Liability Law (General) 10) Law and Economics of Producers' Liability 11) Law and Economics Criminal & Tort Law: Torts V Crimes (General) 12) Corporate crimes

Recommended Texts

Reading lists are managed at readinglists.liverpool.ac.uk. Click here to access the reading lists for this module.