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Introduction to the Economic Fundamentals of Competition and Regulatory Law

Key issues: Relevance of economics and effects on business law, competition theories, special features of market and competition structures in the regulated sectors

In this course the students gain an understanding of economic principles and processes. They deal with the economic theories on competition that areas of economic law are based on. Economic efficiency, welfare allocation, models of perfect competition, oligopoly and the application of game theory in economics, Cournot and Bertrand competition models, market power and market definition, cartels, horizontal and vertical agreements, mergers and unilateral abusive conducts are some of the topics covered under an economic perspective. Students are able to understand these structures and concepts necessary for the understanding of economic law.