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Second Term

(Hamburg, Rotterdam, Ghent)

In this term, students earn 20 ECTS. All students must attend the same three fundamental courses at the second term University. In addition they will attend two additional specialized courses defined by the choice of a certain EMLE track, taught at the respective second term locations: the Public and International Track (Hamburg), Innovation and Intellectual Property Track (Ghent) or the Markets,

Corporations and Regulators Track (Rotterdam). Each second term University will have two specialized courses that all students will attend, which will be followed by more specialized courses in the same track in the third term.

6. Empirical Legal Studies (4 ECTS)

Modern law and economics is unthinkable without empirical tests. This course makes students familiar with the most important aspects of such tests from the design stage, to the collection of data to the actual estimate of simple econometric models. It is a "hands on" course including many practical exercises. Students of this course will learn to: Think creatively about research designDescribe the dataRun OLS regressionsInterpret the data as it relates to causality

7. Corporate Governance & Finance (4 ECTS)

Economic efficiency may be undermined by misallocation of financial resources. This course discusses corporate law and financial regulation from the perspective of the correction of financial markets failure. The course focuses on the various legal, contractual and extra-legal mechanisms available to protect (minority) shareholders and other stakeholders from the self-serving behaviour of managers and of controlling shareholders. Moreover, the course addresses the problem of financial distress and its consequences for the financing of private and public enterprises, as well as for financial stability.

8. Competition Law & Economics (4 ECTS)

Competition policy (also called "antitrust policy") is a term used broadly to describe intervention by public authorities to ensure competition in markets for goods and services. This course aims at making students familiar with the application of economic arguments in European competition law. Comparisons with U.S. antitrust law are included where appropriate for a better understanding of cases and the implications of legislation and court rulings on economic efficiency.

9. A) Economic Analysis of Constitutions (4 ECTS, Hamburg)

This course aims to provide students with specialized knowledge in topical fields of economic and social regulation, including applications of competition policy to specific industries. To this purpose, the course supports guest lectures by field experts, who are either academics or professionals with a law and economics background, or both. Students are supposed to be already familiar with the methodology of economic analysis of regulation in order to bring the discussion to a more advanced level. This course prepares the students to use their skills both scientifically and in policymaking. The contents of the course are updated yearly. The topics include inter alia regulation of liberal professions, public utilities, environmental regulations and recent developments in competition policy.

B) Economics Analysis of Intellectual Property (4 ECTS, Ghent)

This course is designed to provide students with advanced skills on the enforcement of law in the field of regulation of markets. In particular, students learn how to use economic arguments and economic evidence in real-life cases in courts and/or regulatory agencies. The course is organized in a moot court format. Students must take the role of plaintiffs, defendants, regulators or regulatees. They are supposed to base their arguments and decisions, both orally and in writing, on economic analysis of law. The topics, which are reviewed yearly, include inter alia competition law, product liability, mergers and acquisitions, financial and consumer law.

C) Markets, Corporation and Regulators Moot Court (4 ECTS, Rotterdam)

This course aims at providing students an overview of the fast growing field of constitutional law & economics. After laying the groundwork (why an economic theory of the constitution? What concepts of the constitution are used ? and useful?), it delves into the normative analysis of constitutions (Rawls, Buchanan). The main focus is, however, on positive issues. These can be separated into the (economic) effects of constitutions on the one hand and the determinants of constitutions on the other. The effects of a number of constitutional rules such as the form of government, the electoral system, and the use of direct democracy will be analyzed. After having shown that constitutions can have far-reaching effects, the course asks how the differences between constitutions can be explained. The course closes with a discussion of open questions such as the gap between de jure constitutional rules and their actual implementation. Throughout this course, comparative and quantitative analyses will occupy center stage.

10. A) Economic Analysis of International Law (4 ECTS, Hamburg)

The economic analysis of international law is a relatively young area of Law & Economics. Many exciting questions have been posed but few have been answered convincingly. The course begins by formulating a number of essential questions with regard to central issues of international law from an economic point of view. The course deals with the sources of international law as well as the role of international organizations in its implementation. It also discusses the relevance of domestic institutions for the implementation of international law. A large chunk of the course is devoted to analyze specific areas of international law (such as investment, trade, but also human rights and refugee law) from an economic point of view

B) Advanced Contract Law & Economics (4 ECTS, Ghent)

This course will introduce students to the intersection between intellectual property law and economics. Topics range from the economic justification of intellectual property law, the enforcement of intellectual property, the political economy of intellectual property protection, as well as empirical studies of the effects of intellectual property rights on incentives and the level of creativity and innovation in society. The course will focus on copyright law, patent law, trademark law, and trade secrets.

C) Advanced Economics of Regulation (4 ECTS, Rotterdam)

This course discusses advanced topics in contract law and economics with a focus on contexts of innovation and creativity. Through the lens of principal-agent-theory, we examine topics such as the function of contracts in innovative relations, contract design of venture capitalists, problems of crowdfunding, and the interaction of incentive schemes and creative output. A sound understanding of basic game-theoretic concepts of economic theory of contracts is a strongly suggested prerequisite for this course. While economic theory will be the methodological focus, the course accounts for insights from behavioral and experimental economics where appropriate.

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Midterm Conference 2018...more

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Students Voices

lucas seabra


"The EMLE year was un unforgettable experience. Academically, it expanded my understanding of law and economics by offering a unique aproach to a broad range of legal issues using economic reasoning and public policy analysis. Personally, the privilege of earning a master's degree in different countries with a diverse group of students provided an interesting cultural opportunity to widen our horizons about the world."

Lucas Ataydes Leite Seabra

[EMLE Student 2009/2010]