Law and Economics (BØK501)

Law and Economics is one of many interdisciplinary sciences concerning law (such as Law and Psychology and Law and Philosophy). Law and Economics analyses the law using economic methods. Since the two subjects are so interconnected, Law and Economics gives us a better understanding of both subjects. Law and Economics offers both positive and normative economic analysis of law.

Course description for study year 2023-2024. Please note that changes may occur.


Course code




Credits (ECTS)


Semester tution start


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Learning outcome


Students should:

  • Have good knowledge of basic microeconomics, especially with regards to the law of supply and demand, as well as in-depth knowledge of economic analysis of property rights, civil liability and contract law.
  • Know how supply and demand are affected by legal rules.
  • Have knowledge of basic theories of law and economics concerning topics such as property, contract and civil liability.
  • Have advanced knowledge of the consequences of legal rules by identifying the incentives created by a legal framework.


Students should be able to:

  • Have the ability to do basic economic analyzes of law in civil law systems.
  • Recognize the economic issues in a legal problem and apply an economic way of thinking to analyse it.
  • Conduct a comparative analysis of alternative legal arrangements based on transaction costs, incentives and risk allocation, and assess the efficiency effects of legal rules and policies.

Required prerequisite knowledge



Form of assessment Weight Duration Marks Aid
Written exam 1/1 5 Hours Letter grades Valid calculator

Course teacher(s)

Course coordinator:

Truls Ellingsæter

Study Program Director:

Tarjei Mandt Larsen

Open for

Business Administration - Bachelor's Degree Programme
Exchange programmes at UIS Business School

Course assessment

There must be an early dialogue between the course supervisor, the student union representative and the students. The purpose is feedback from the students for changes and adjustments in the course for the current semester.In addition, a digital subject evaluation must be carried out at least every three years. Its purpose is to gather the students experiences with the course.


The syllabus can be found in Leganto