...PRIMA SEZIONE CONCETTI BASILARI 1. INTRODUZIONE L’assunto sul quale si basa l’analisi economica del diritto è che le regole, in generale, e il diritto, in particolare, influenzano il comportamento degli individui, o meglio le loro scelte comportamentali. La teoria delle scelte per antonomasia è la microeconomia, per cui l’analisi economica del diritto, riprende i concetti e gli strumenti basilari della microeconomia per valutare le scelte comportamentali dei soggetti davanti una regola. Un interessante caso illustrato nel 2000 da Uri Gneezy e Aldo Rustichini sul Journal of Legal Studies può farci capire il collegamento tra regola e scelta comportamentale. In alcune strutture scolastiche di Haifa si assisteva a ritardi ripetuti dei genitori all’orario di uscita dei propri figli, comportando che gli insegnanti e gli addetti dovessero prolungare la propria permanenza lavorativa per custodire i bambini; la dirigenza scolastica decise quindi di introdurre una regola che prevedesse una sanzione monetaria in caso di ritardo. Per valutare gli effetti di tale regola, la sanzione fu introdotta in sei delle dieci scuole dell’infanzia, mentre le restanti ebbero il ruolo di campione di controllo. L’obiettivo del produttore della regola (la dirigenza scolastica) era di capire se la sanzione spingesse i genitori a una condotta più consona, per poi valutarne un’estensione a tutte le scuole. Lo studio rilevò effettivamente una variazione del comportamento dei genitori a seguito dell’introduzione...
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...TD N°3 : Le principe de légalité Corrigé dissertation : L’impôt est payé pour assurer la sécurité collective. A l’origine, le consentement est limité aux finances extraordinaires et à la noblesse et au clergé. La soupape de sécurité sera améliorée : * en Angleterre en 1628 et en 1689 : élargissement du consentement * en Amérique : révoltes * 1789 en France avec la Révolution : le Royaume qui est dans une situation financière économique catastrophique mais Necker va faire lever de nouveaux impôts. Le plan était que le clergé et la noblesse vont voter contre le Tiers état le problème est que la noblesse se scinde en deux alors que le clergé reste unit. Dans la foulée, les privilèges sont abolis et l’introduction du droit d’aide. DDHC et art 14 : principe de consentement à l’impôt est généralisé (méthode du consentement par le parlement est choisie). * Lois des 1815 : principe n’est pas repris= le parlement va seul à continuer la loi jusqu’en 1914. * 1946 : IV République donc on réinscrit dans la loi que la loi est votée par le Parlement * Constitution de 1958 : loi fixe les règles pour l’assiette, le taux et des impositions de recouvrement Les sanctions fiscales sont considérées par le Conseil constitutionnel comme des sanctions pénales. Limites au principe de légalité : * document 3 : les collectivités territoriales= on confère la libre administration aux collectivités mais cette liberté n’existe pas si elles n’ont pas d’autonomie...
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...Enterprises in China 1.0 Introduction 2.0 Proprietorships 3.0 Partnerships 4.0 Corporates 1.0 Introduction In the People’s Republic of China, business organizations may be classified in to three main classes: individual proprietorships, partnerships, and corporations. The laws that effect these forms of business enterprises are diverse. There is no single code or statute that governs the PRC law of business enterprises. According to the sources of capital, there are domestic capital enterprises which are regulated by Sole Proprietorship Enterprise Law of the People's Republic of China , Partnership Business Law of the People's Republic of China, and Company Law of the People's Republic of China and foreign capital enterprises which are regulated by The Measures for Administration of the Establishment of the Partnership by Foreign Enterprises or Individuals within the Territory of China, Law of the People’s Republic of China on Chinese-Foreign Con-Tractual Joint Venture, Law of the People’s Republic of China on Chinese-Foreign Equity Joint Ventures, and Law of the People’s Republic of China on Foreign – Capital Enterprises. The relevant laws are the Security Law , the Fair Competition Law and the Antitrust Law. 2.0 Proprietorships 2.1What is a sole proprietorship enterprise A sole proprietorship enterprise means a business entity established within China with its capital contributed by one individual and its assts owned personally by the sole proprietor, who assumes unlimited...
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...ECO 201 Assignment 1 Explain the difference between the law of demand and the law of supply. What does the phrase ‘other things equal” mean? Why do we need that? Answer: The difference between the law of demand and the law of supply is that they both move into opposite direction. The law of demand states that the consumers will demand more of goods or services if the price goes down. The variable of the price drop creates an incentive to increase the demand for the goods and services. The law of supply moves in the opposite direction with its main focus being the suppliers of goods or services. There will be a larger incentive for the increase of goods supplied if the price increases. Both of these laws use the “other things equal” assumption or ceteris paribus. This assumption is used when identifying the relationship between two variables like a price and quantity. By using this assumption, economists can isolate the variables so other factors will not affect the development of the theory. When we see the term other things equal we know that this assumption is made to indicate that other variables are not changing or affecting the variables of interest. Without this assumption it would be impossible to develop theories about the relationships and make a causal connection between two variables that can be identified. 2 In your own words, explain the difference between a movement along the demand curve and a shift in demand. Then, provide an example from your own...
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...ics Economics as a Science and its relevance to Law Economics is the branch of knowledge concerned with the production, consumption, and transfer of wealth. It is the condition of a region or group as regards material prosperity. It is the social science that analyzes the production, distribution, and consumption of goods and services. Now the Question is whether Economics is a science or not? Economics is a science that treats of those social phenomena that are due to wealth getting and wealth using activities of Man. The word ―Economics‖ is derived from the Greeks word ―Oikonomos‖ which means to manage the house. So it means the management of a household especially in those matters, which are relating to the income and expenses of the family. After sometime, political economy term was also used for this topic and slowly political economy adopted the shape of Economics. There are numerous definitions of Economics offered from time to time but there is no clear and concise definition. Keeping in view this situation J.M. Keynes has rightly, stated ―Political Economy is said to have strangled itself with definition.‖ However, Economics is considered to be a science as well as an art. Some of its features like, self corrective nature, systematic body of knowledge, own laws and theories, universal validity of its laws (law of demand, marginal utility, law of diminishing returns etc) support economics to be a science, but its other features like lack of predictability and lack of...
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...The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel 1991 Ronald H. Coase Ronald Harry Coase (/ˈkoʊz/; 29 December 1910 – 2 September 2013) was a British economist and author. He was the Clifton R. Musser Professor Emeritus of Economics at the University of Chicago Law School. After studying with the University of London External Programme in 1927–29, Coase entered the London School of Economics, where he took courses with Arnold Plant. He received the Nobel Prize in Economics in 1991. Coase, who believed economists should study real markets, not theoretical ones, established the case for the corporation as a means to pay the costs of operating a marketplace. Coase is best known for two articles in particular: "The Nature of the Firm" (1937), which introduces the concept of transaction costs to explain the nature and limits of firms, and "The Problem of Social Cost" (1960), which suggests that well-defined property rights could overcome the problems of externalities (see Coase theorem). Coase is also often referred to as the "father" of reform in the policy for allocation of the electromagnetic spectrum, based on his article "The Federal Communications Commission" (1959), where he criticises spectrum licensing, suggesting property rights as a more efficient method of allocating spectrum to users. Additionally, Coase's transaction costs approach is currently influential in modern organizational economics, where it was reintroduced by Oliver E. Williamson...
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...Ateneo de Davao University In Partial Fulfillment of the Requirements in Communication Arts MA 300 Full Written Analysis of the Case on St. Francis College of Commerce Analine R. Evangelista Kristel Mae D. Magsipoc Hadriza S. Omar Juella M. Laguna September 22, 2012 I. Summary St. Francis University was a medium-sized private University, located in a major port city in Visayas. The University is well known for its engineering and Science degree courses and was one of the better private universities in the city. It boasts of a total of 26,000 enrollees at both the graduate and undergraduate levels. The College of Commerce was a major unit of the University. However, it has only 3000 student enrollees or so, compared to the College of Engineering, which accounted for more than a third of the University’s enrollment. The College of Commerce has 55 full time faculty and over 100 lecturers. The faculty members taught as many as 5 courses per semester while the lecturers taught three courses. The College of Commerce was distributed among the four major fields, namely: Banking and Finance, Accounting, Marketing and Business Management. In June of 1988, Mr. Santos assumed the position of Dean of the College of Commerce. Since the college experienced rapid growth in enrollment in the University during the past ten years, Dean Santos wanted to combine curricular improvements and administrative changes that would improve...
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...tempered optimism about the economics profession, with which have been associated by occupation for more than 20 years. Historically, economic theory originated in the happy union of Athens and Jerusalem known as “the natural law,” and has always returned to the sanity of its roots—after exhausting the alternatives. As I read its history, economic theory has nearly completed its last great detour away from sanity, and is rapidly running out of alternatives to a renewal of “natural-law economics.” If such a renewal occurs, it won’t be because economists have decided to sit down and learn from philosophers (or, God forbid, theologians)—nothing could be farther from their minds—but for the same reason as the last seismic shift in economics, which began in the 1870s: a growing number of economists are finding the current state of economic theory a professional embarrassment. Of course, I may be underestimating the average economist’s threshold of embarrassment. But let me explain the nature of that * John D. Mueller is Associate Scholar of the Ethics and Public Policy Center and president of LBMC LLC, a financial-markets forecasting firm. For most of the 1980s he was Economic Counsel to the House Republican Conference (caucus) under chairman Jack Kemp. The research on which this article is based was made possible by The Lehrman Institute and the James Madison Program at Princeton University. 2 embarrassment, why only a renewed “natural law economics” will relieve it, and ...
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...Economics is a social science that studies how individuals, governments, firms interact in allocation of resource, distribution of resources and transaction in the market. Public finance is said to be the center of economics that studies government activities in the economics and how government finances their expenditure. The span of government activities in a country are capitalist in which government activities are narrow, socialist where government undertakes most government activities and mixed economy in which the government takes a larger share of the economics activity. Externalities occurs in a situation where the buyer and seller do not take into consideration the effect of their action on third party or where there is a spillover effect on production process, externalities also occur when the right to use of environment is in dispute which means there is a need for property right. Which is the law created for firms, individuals for the use of a resource. Whenever there is an externalities and inefficient allocation of resource by private sector then market has failed to achieve efficiency also If the environment is regarded as being of value why does it suffer abuse? When and how does use of environment become abuse? The simple answer is that these problems are examples of a combination of various aspects of what is commonly known as market failure. These include missing markets, externalities, common property and other related effects. we can say, absence of...
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...Abstract In 1959, Ronald Coase introduced what is now known as the Coase Theorem, which suggests that absent transaction costs, any initial property rights agreement leads to an economically efficient outcome. Straying from previous models supported by most economists, this position was initially met with skepticism. Discussion Prior to 1959, the standard economic understanding held that government regulation enhances efficiency by correcting for claimed imperfections. This thinking was in keeping with A. C. Pigou’s contention that was developed in 1920. Pigou called claimed imperfections, “market failures”. In 1959, Ronald Coase authored an article for the University of Chicago’s Journal of Law and Economics entitled, “The Federal Communications Commission”. In this article, Coase suggested that in the absence of transaction costs, any initial property rights arrangement leads to an economically efficient outcome (McTeer 2003). In Coase’s discussion, he changes the way torts are viewed. In Pigou’s model, one party does harm to another; therefore, government regulation is necessary to ensure that the party filing the claim of harm is no longer harmed. Coase’s model expands the view of harm to include the party accused of inflicting harm on the other party. Specifically, Coase demonstrates that if government regulation is put into place to prevent harm to a party, the entity that is now subjected to the regulation is now being harmed. For example, Company A...
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...Rights, Freedom, Equality, and Efficiency Response A concept that is discussed in economics is Pareto Optimality. A Pareto optimal situation is a circumstance where a person cannot be made better off without making another person worse off. This means that resources have been allocated and distributed in a way that will result in efficiency. There would be no waste in a Pareto optimal situation. However, one could argue if Pareto optimal situations, while they are efficient, are also fair. The Pareto Optimality theory does not state anything about equality, and so the question of distribution arises. It is a fair Pareto optimal situation when two parties have equal amounts of a good, but it is also Pareto optimal when one person has all the goods and the other has none. This is where the flaws in this theory are. While reducing waste and inefficiency, it raises the possibility of inequality and the goods being distributed and allocated to one powerful person. So Pareto inefficiency does not provide basic sustenance for all. In fact, it may favor the few in power that have the capability to have more goods allocated to them. Pareto optimality will not result in Kingdom-enhancing outcomes if it benefits the rich and leaves the poor with less. Also, this means that to make the rich better off, it will continue to hurt the poor. One of Jesus’ primary messages was to love and take care of the poor. In light of this, we should look for other ways to preserve efficiency...
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...THEORY AND PRACTICE OF THE ECONOMIC ANALYSIS OF LAW POSSIBLE TOPICS FOR SEMINAR PAPERS 1. General Approaches Overview paper on classical, behavioural, neuro-economical approaches. 2. The Assumption of Economic Rationality Standard economic analysis assumes that people are rational maximizers of their own utility. This assumption consists of a cognitive element (“thin rationality”, the assumption that people’s preferences meet the requirements of completeness, dominance, invariance, etc.), and a motivational one (“thick rationality”, the assumption that ultimately people only care about their own utility). Students should analyze the fruitfulness and limitations of this assumption, as well as ways to overcome these limitations. 3. Theories of Human Motivation Overview about classical and new theories of human motivation, supplementing and/or challenging the idea of economic rationality as prime human motivation. 4. Economic Analysis and Commensurability Much of the attractiveness of economic analysis stems from the possibility of quantifying people’s preferences in monetary terms, which in turn facilitates the use of mathematical models to explain and predict human behavior, as well as to derive normative and policy implications. This raises the debate about the comparability and commensurability of values. 5. Economic Analysis of Law and the Endowment Effect There are competing explanations for the Endowment Effect and some economists actually doubt...
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...001 Economic Liberalization, the Changing Role of the State and ‘‘Wagner’s Law’’: China’s Development Experience since 1978 DAMIAN TOBIN * CeFiMS, SOAS, University of London, UK Summary. — The paper applies Wagner’s Law of increasing state activity to illustrate the changing function of the state in China as a consequence of economic liberalization. Wagner’s Law describes the association between increasing national wealth in progressive states and the rise in state activity and expenditure. This indicates that the causes of bureaucratic expansion are to be sought, not just in terms of political pressures, but the interplay between political considerations and the economic necessities, resulting from the emergence of new property rights. A simple illustrative model is developed to measure the effects of increasing national wealth and the growth of the public sector. This suggests that the patterns of economic development observed by Wagner in 19th century Europe are not unlike those observed in China today. Ó 2005 Elsevier Ltd. All rights reserved. Key words — Asia, China, economic growth, public sector 1. INTRODUCTION The relationship between economic growth and the size of the state sector has long been a topic of interest for public policy practitioners and academics alike. Throughout history, the role of the state has been critical in determining particular economic outcomes. Research in this area has in general focused on how economic policies impact upon economic growth...
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...Accredited Tertiary Courses Listing 2012 Accredited Tertiary Courses Listing 2012 – as at 26 September 2012 1 2012 Accredited Undergraduate Courses AUSTRALIAN CAPITAL TERRITORY The Australian National University University of Canberra NEW SOUTH WALES Australian Catholic University Australian Institute of Higher Education Avondale College Charles Sturt University Kings Own Institute Macquarie University Southern Cross University Top Education Institute The University of New England The University of New South Wales The University of Newcastle The University of Sydney University of Technology, Sydney University of Western Sydney University of Wollongong Williams Business College NORTHERN TERRITORY Charles Darwin University QUEENSLAND Australian Catholic University Bond University Central Queensland University Christian Heritage College Griffith University James Cook University Queensland University of Technology The University of Queensland The University of Southern Queensland University of the Sunshine Coast SOUTH AUSTRALIA Flinders University Kaplan Business School The University of Adelaide University of South Australia Open Universities (conferred by Uni of SA) TASMANIA University of Tasmania VICTORIA Australian Catholic University Cambridge International College Carrick Higher Education Deakin University Holmes Institute Holmesglen Institute of TAFE La Trobe University Melbourne Institute of Technology Monash University Northern Melbourne Institute of TAFE RMIT...
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...European Contract Law: An Economic Perspective Prof. Fernando Gomez Professor of Law and Economics Universitat Pompeu Fabra, Barcelona, Spain Session 1 The Law and Economics of Legal Harmonization and European Harmonization of Private Law Ogus and Garoupa, “The Strategic Interpretation of Legal Transplants”, in Journal of Legal Studies, vol. 35 No. 2 (2006) Gomez and Ganuza, “The Economics of Private Law Harmonized Lawmaking: Mechanisms, Modes and Standards”, in Brownsword/Micklitz/Niglia/Weatherill (eds.), Foundations of European Private Law, Hart Publishing (2010, forthcoming). You may skip the last section of the paper. Session 2 European Harmonization of Contract Law: Why and How Gomez, “The Harmonization of Contract Law Through European Rules: A Law and Economics Perspective”, in European Review of Contract Law, Vol. 4 No. 2 (2008) Ganuza and Gomez, “Optimal Harmonized Standards for Promoting Cross-Border Trade”, Working Paper, Department of Economics and Business, Universitat Pompeu Fabra (2009) Session 3 Basic Issues on Long-Term Distribution Contracts and their Legal Regulation in Europe Artigot and Gomez, “Long-Term Contracts in the Law and Economics Literature”, in De Geest (ed.), Encyclopedia of Law and Economics. Contracts, Edward Elgar (2010, forthcoming). You may skip sections 6, 7, 8. Gomez, “Cooperation, Long-Term Relationships and Open-endedness in Contract Networks” in Cafaggi (ed.), The Law and Economics of Contract Networks...
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