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Third Term

(Hamburg, Aix/Marseille, Vienna, Warsaw, Mumbai, Rome, Barcelona)


In this term, students earn 20 ECTS divided as follows: 5 ECTS are earned by attending two complementary courses, following the track system they chose with their second term location; 15 ECTS are earned writing a Master thesis in the form of a scientific paper of now more than 13,000 words on a specific subject in Economic Analysis of Law. Students are supposed to specialize in one area of Law and Economics, which depends on the third term location and track chosen.


Legal Framework for the Digital Economy (Aix)

The course aims at providing a thorough and rigorous analysis of the legal issues that follow from the deep effects that the Internet and digital technologies have (i) on the structure of existing markets, (ii) on the creation of new markets, and (iii) on the strategies that economic agents (firms, consumers and regulators) deploy on these various markets. The tools of the theory of industrial organization are used to understand a wide array of online market phenomena, including multi-sided platforms, impacts of ?big data? (targeted advertising and pricing, recommendation systems, privacy), net neutrality and online business models. The course makes use of case studies to make parallels between theory and reality. At the end of the course, students should be able to (i) master an array of specific concepts from the theory of industrial organization, so as (ii) to understand how the Internet affects the working of markets, (iii) as well as the strategies implemented by firms, consumers and regulators on these markets, and (iv) to apply these theoretical concepts to inform public policy.


Competition Law For New Business Models (Aix)

The course will first establish, via real life examples, that the production of goods and services is more than ever best characterized as a discovery process driven by an entrepreneurial spirit that constantly shifts the lines of the pre-existing markets and, as a matter of fact, invents new ways of developing profitable businesses (Google, Facebook, Smart phones, Block chains, etc). Starting from this analysis, the course will explore the relevance of the traditional concept of competition law (e.g. monopoly?s dead weight losses, SSNIP test or essential facility doctrine for a platform business) and their recent evolution. The course will also re-examine the articulation between, on one hand, ex ante regulation and, on the other hand, ex post correction via competition law in this new market environment. Finally, the role of intellectual property rights and their connection with the dynamic efficiency of markets will be investigated.


Law and Economics of Innovation (Barcelona)

The course provides a general overview of the problems arising from the interaction between technology and the law. The general economic analysis of contracts, torts and property will be applied to the challenges posed by smart contracts, algorithm contracts, self-driving contracts, the interaction between big data and competition law, the internet of things and the application of products liability and insurance to fully automated devices. Sharing and collaborative economy formulas will also be analyzed in the course.


Advanced course on Intellectual Property (Barcelona)

The course focuses on the specific issues that the internet poses to the traditional law and governance of intellectual property rights. From an economic perspective, the course deals with the impact of information technologies on intellectual property law regimes, collaborative creativity on the internet and other forms of shared innovations, digital exhaustion and challenges to the enforcement of intellectual property rights and to the application of traditional remedies. The course also deals with the legal and economic rationales behind specific remedies such as disgorgement of profits. The law and economics of technical protection measures and the impact of blockchain technology will also be analysed.


European Integration (European Union Law & Economics) (Hamburg)

This course is devoted to an economic analysis of EU integration. We shall evaluate the case for economic integration in fields such as free movement of goods, free movement of workers, freedom of establishment, free movement of services and of capital. Understanding the legal framework and the lawmaking process is crucial for a complete picture of the EU. The course will also consider the economics of the Euro as a single currency, the design of the Eurozone, and the consequences of the financial crisis.


EA of International Trade & Investment Law (Advanced Issues in the Economics of International Law) (Hamburg)

This course aims at enabling students to carry out the economic analysis of specific aspects of international law autonomously and independently. This promises to be an intellectual challenge as the economic analysis of international law is still in its infancy. An important criterion for the choice of the concrete subject of the course is the timeliness of the topic. Possible topics include ? but are not limited to ? investment and trade, the economic analysis of international refugee law, or the economic analysis of counterterrorism measures.


L&E of Development: Foundations (Mumbai)

The course introduces students to fundamental development problems, issues faced by developing nations, debates on the relationship between law and (economic) development and exposes them to the diversity of international experience regarding legal interventions to promote development. It hopes to encourage students to go beyond multi-country/period statistical analyses and study the interface between law and economy as if both space and time, i.e., the historical context, mattered and appreciate the mutually constitute relationship between law, legal institutions, and economy. The course begins with an introduction to various economic perspectives on the relationship between law and development and then gradually complicates the narrative by bringing in multidisciplinary critiques, historical studies, and case studies on recent law and development interventions across the world.


L&E of Development: Institutions (Mumbai)

This course is designed to expose the student to fundamental theoretical perspectives and empirical research that have developed over the years to study the emergence and functions of institutions, with special emphasis placed on law as an institution. Insights gained in the course will be helpful in understanding the role of institutions in development, and in analyzing the process of economic change.


Experimental Approaches to Law Making and Regulation (Rome)

Students will start with learning the foundations of experimental methodology both in the lab and in the field, including some basic techniques for designing software and for analyzing the experimental data. Students will cover a selective list of experimental evidences supporting major findings of the standard L&E literature (that may include property, tort, contracts and crime as well as to the topics of consumer choice and behavioral regulation). Students will learn how to design and implement robust tests of regulatory reforms proposals through randomized control trials techniques.


Better Regulation (Rome)

Students will approach all stages of the regulatory process, from rulemaking to institutional framework and enforcement, and they will acquire tools to improve the flow and the stock of regulation used at national, European and international level. Students will also familiarize with a large body of evidence from cognitive sciences that is relevant to regulation and will discover how it is being currently used in the regulatory process. Another learning goal concerns the analysis of the impact of cognitive sciences on the regulatory toolkit.


Cases in Competition L&E (Vienna)

This seminar is for master students and covers selected topics in competition law and economics. We start with basic game theoretical models explaining market behavior in monopolies and oligopolies. We then discuss methods applied in antitrust cases as market definition, assessment of market power, evaluation of mergers and calculation of cartel damages. Students will present related competition cases and write a term paper. The aim of this seminar is to expand students' knowledge of advances in the field of competition economics at the master level. A particular emphasis is put on empirical applications and the discussion and presentation of cases. This course provides lectures on the basic game theoretic models as well as on the empirical implantation of these models and their applications. By presenting case studies, students will learn how to apply the theoretical and the econometric models to real world situations.


Enforcement of Competition Law: Dispute Resolution & Procedure (Vienna)

The course deals with the enforcement of competition law in a twofold manner. On the one hand, itdiscusses the current EU-framework, the relevant case law and pertinent policy proposals and, on the other hand, it relates this competition-law specific policy approach to the general analysis of the respective topics (torts, criminal law, law enforcement, procedure).The seminar is held in English. This seminar aims at providing students with a research/literature-based analysis of advanced issues regarding the enforcement of competition law in the broad sense.The seminar also aims at increasing the students´ employability in economic consulting firms, in law firms, and in other specialized units (such as competition authorities) in the area of competition law.


International Corp. Governance (Warsaw)

The aim of the course is to present the interdisciplinary concept of corporate governance by analyzing institutions and mechanisms of corporation supervision as well as institutions and mechanisms ensuring management accountability from international perspective. In different economic systems, different mechanisms and institutions of management supervision have emerged. Hence, the course takes the systemic view of the governance structures found around the world. A systems view tries to discover the ?internal logic? of a set of corporate governance mechanisms and institutions - how well do the components fit together? After the course students are capable of blocks building of corporate governance system as well as know the corporate governance mechanisms and their appropriateness of an entire system.


Financial Markets and Regulators ( Warsaw)

Students will become familiar with a mosaic system of domestic and international supervision over the financial market from the EU perspective. They will be informed about the difference between microprudential and macroprudential supervision. The European Union has been active within the financial sector, in particular after the financial crises of 2009. Students will learn about institutions involved in the European supervision, e.g. European Central Bank as well as they will be taught about various regulations over financial market.



Exchange opportunities:

During the third term, a maximum of three well-performing EMLE students get the opportunity to go six to seven weeks to our Associate Partner, the Law and Economics Center at the University of California, Berkeley, USA. Students will be invited by us to apply shortly before the start of the second term. Only those students that already have a Master degree in Law, Economics, or Business can be accepted for Berkeley. Students are not solely chosen on their academic performance in the EMLE, but also on their motivation and CV.

The selected students will be officially hosted as ‘visiting researchers’ and will attend a seminar on law and economics. They will have to pay their own travel, accommodation and visa costs, but not the Campus/University/Law School Residence Fee. The visit to Berkeley will be acknowledged on the EMLE Diploma Supplement.



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EUA Joint Masters Programme Accreditation by NVAO and ZEvA Erasmus+ Masters Course Erasmus Mundus Association


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Students Voices

ziwei xu

"This program broadens my focus and cultivates me in the interdisciplinary research. I tasted the academic research with multi-aspects as well as the life with multi-cultures.
I was encouraged by the energetic people in the program who are helpful, enthusiastic and intelligent."

Ziwei Xu

[EMLE Student 2009/2010]