Economic Environment of Business

In the course we discuss the basic parameters of the economic environment of a country that are of interest to law professionals.  We place special emphasis on the applications of economic theory, i.e., on the discussion of important historical examples and real-time news.  Some topics are related to microeconomics, while others are related to macroeconomics.  For example, at a macro level, we examine the fundamental importance of the institutional and legal framework in the determination of a country’s economic prosperity.  At a micro level, we examine the causes and effects of monopolies, as well as the appropriate legal and regulatory framework in monopolized markets.

After the successful completion of the course a student will be able :

• to comprehend the fundamental parameters that may determine a country’s economic growth.
• to demonstrate a critical understanding of the relationship between a country’s legal/institutional framework and economic prosperity.
• to demonstrate an increased critical perception of the beneficial effects of perfectly competitive markets on economic prosperity
• to have a critical awareness of the harmful effects of monopolies and exclusionary practices on economic prosperity
• to have specialized knowledge of the role of antitrust laws and regulatory agencies