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PUBLIC LAW FOR ECONOMICS
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PUBLIC LAW FOR ECONOMICS
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Academic year 2017/2018
- Course ID
- ECO0246
- Teacher
- Maurizio Irrera (Lecturer)
- Year
- 2nd year
- Type
- Distinctive
- Credits/Recognition
- 6
- Course disciplinary sector (SSD)
- IUS/05 - diritto dell'economia
- Delivery
- Formal authority
- Language
- English
- Attendance
- Optional
- Type of examination
- Written
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Sommario del corso
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Course objectives
After a brief introduction regarding Law & Economics methods and their first and most common application to competition law, the course will focus on the functional and economic issues related to corporate law. In particular, it will point out the common structure and core features of corporate law across jurisdictions; then, it will explore the role of corporate law in minimizing coordination and agency problems: noted that the exigencies of commercial activity and organization present practical problems that are roughly similar in market economies throughout the world, the analysis will focus on the ways in which corporate laws respond to these problems, and the various forces that have led different jurisdictions to choose roughly similar solutions to them.
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Results of learning outcomes
1) Knowledge and understanding ability.
The objective of the course is to develop graduate students' abilities in acquiring a better understanding of the rules of law as a response to economic issues.
2) Capability to apply knowledge and understanding
The course aims at fostering the students' understanding of the methodological issues involved in Law & Economics studies.
3) Capability to approach the subject in a critical manner
By the end of the course, students are expected to have increased their ability to critically assess the solutions given by law to economic problems.
4) Communication abilities
Students will be required to communicate using the technical language of Law & Economics.
5) Learning ability
The course aims at fostering the students' ability to identify economic problems and policy issues and to assess what the best regulatory solutions to them could be.
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Course delivery
Teacher's lectures
Students' presentations
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Learning assessment methods
Written exam at the end of the course (and possible midterm test)
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Program
Law & Economics method: introduction
Applications to competition law:
collusion and cartels
abuse of a dominant position
concentrations between undertakings
Applications to corporate law:
common structure of corporate law
legal strategies to address economic issues
governance mechanisms in ordinary business decisions
agency problem between shareholders and managers
agency problem between majority and minority shareholders
corporation's transactions with creditors
agency problem between firm and creditors
related-party transactions
structural fundamental changes (e.g. charter amendments, mergers or acquisitions)
control transactions
securities regulation of public markets
Suggested readings and bibliography
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AA.VV., The Anatomy of Corporate Law: A Comparative and Functional Approach, Oxford University Press, 2017
Further reading materials will be given during the course.
P.J. Slot and M. Farley, An Introduction to Competition Law: Second Edition, Bloomsbury, 2017
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