90354 - Law, Economics And Markets

Course Unit Page

  • Teacher Francesco Parisi

  • Credits 6

  • SSD IUS/05

  • Language English

  • Campus of Bologna

  • Degree Programme Second cycle degree programme (LM) in Economics (cod. 8408)

Academic Year 2021/2022

Learning outcomes

The course offers an introduction to the basic concepts of law and market regulation. It invites students to familiarise with the concepts of property, contract and litigation by emphasising their functions in the market economy. At the end of the course, students should be able to read and understand (basic) legal scholarship and to be aware of the main differences across legal systems.

Course contents

  1. Techniques and methodology used for this course
  2. Purpose of regulation and alignment of incentives
  3. Contracts and their regulation
  4. Coase's theorem and the economic analysis of legal remedies
  5. Market, production and liability for non-contractual damage
  6. Economic theories of property, environment and sustainability
  7. Economic analysis of the markets and the effects of litigation


  1. Parisi (2013), The Language of Law and Economics: a Dictionary, Cambridge University Press.
  2. ROBERT COOTER, UGO MATTEI, PIER GIUSEPPE MONATERI, ROBERT PARDOLESI, THOMAS ULEN (2006), The market of rules. Economic analysis of civil law I. Fundamentals

    plus some articles on markets and regulation indicated in class.

    Non-attending students will find useful the exercises contained in:
  3. ROBERT COOTER, UGO MATTEI, PIER GIUSEPPE MONATERI, ROBERT PARDOLESI, THOMAS ULEN (2006), The market of rules. Economic analysis of civil law II. Applications

Teaching methods

Lectures, exercises and class discussion.


Assessment methods

Written exam: multiple choice questions with motivation and open-ended questions. Duration: two hours.

Students are reminded that exams passed with positive results can be repeated a maximum of once.



18-23: the student has sufficient preparation and analytical skills, spread however, over just few topics taught in the course, the overall jargon is correct

24-27: the student shows and adequate preparation at a technical level with some doubts over the topics. Good, yet not to articulate analytical skills with the use of a correct jargon

28-30: Great knowledge about most of the topics taught in the course, good critical and analytical skills, good usage of the specific jargon

30L: excellent and in depth knowledge of all the topics in the course, excellent critical and analytical skills, excellent usage of specific jargon.

Teaching tools

slides, video projector, blackboard, digital blackboard

Office hours

See the website of Francesco Parisi