Undergraduate Course: Competition Law and Economics (LAWS10270)
Course Outline
| School | School of Law |
College | College of Arts, Humanities and Social Sciences |
| Credit level (Normal year taken) | SCQF Level 10 (Year 3 Undergraduate) |
Availability | Available to all students |
| SCQF Credits | 20 |
ECTS Credits | 10 |
| Summary | This course provides an introduction to competition law, with a particular emphasis on the subject's economic aspects. It examines the economic theories and methods that underpin each area of competition law, as well as considering the broader influence that economics and economists exert on the field. |
| Course description |
Taking in perspectives from the United Kingdom, European Union and United States, this course introduces students to competition law and the economics of competition law.
Competition law is a vital tool in shaping markets, lowering prices, promoting innovation, and safeguarding the political and social realms from excesses of economic power. These issues are especially relevant today, with the dominance of the 'Big Tech' companies in digital markets, as well as other powerful companies across a range of industries. Given that competition law is an inherently interdisciplinary subject, with deep connections to economics, knowledge of economic theories and methods is critical to its study and practice.
Each of the three major areas of competition law - anticompetitive agreements, abuse of dominance and merger control - are profoundly shaped by economics. Accordingly, competition authorities employ economists to develop theories of harm on which to build their cases. In turn, defendants hire economic consultants to rebuff such theories in court.
The centrality of economics to competition law is highly contested. On one hand, it is praised in some quarters for bringing scientific rigour and objectivity to the field. On the other, with its focus on market-based solutions, it is often criticised for helping to create an enforcement environment that is overly deferential to corporate power.
Given this context, the course provides students with an understanding of the substantive and procedural ways in which economics interacts with competition law, as well as an appreciation of the opportunities and challenges presented by the use of economic expertise in legal and regulatory settings.
Methodologically, the course draws on mainstream competition law and economics, as well as critical insights from economic sociology and the law and political economy tradition. Although some equations and empirics may be used, the course is not mathematical.
The course will cover the following topics:
- The history and development of competition law (especially in the US, UK and EU)
- Theories of economic competition
- Central concepts in competition law analysis (market definition and market power)
- Anticompetitive agreements (horizontal and vertical)
- Abuse of dominance (exploitation and exclusion)
- Mergers and merger control (horizontal, vertical and conglomerate)
- Economic regulation (public utilities and digital)
- The role of economics and economists in competition authorities and courts
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Entry Requirements (not applicable to Visiting Students)
| Pre-requisites |
|
Co-requisites | |
| Prohibited Combinations | |
Other requirements | None |
Information for Visiting Students
| Pre-requisites | None |
| High Demand Course? |
Yes |
Course Delivery Information
|
| Academic year 2024/25, Available to all students (SV1)
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Quota: 0 |
| Course Start |
Semester 1 |
Timetable |
Timetable |
| Learning and Teaching activities (Further Info) |
Total Hours:
200
(
Seminar/Tutorial Hours 20,
Programme Level Learning and Teaching Hours 4,
Directed Learning and Independent Learning Hours
176 )
|
| Assessment (Further Info) |
Written Exam
0 %,
Coursework
100 %,
Practical Exam
0 %
|
| Additional Information (Assessment) |
The summative assessment will be a 5000-word essay (100%) |
| Feedback |
Students will have the opportunity to submit a formative assessment, composed of an abstract and a bullet-pointed essay plan for the summative assessment. Written feedback on the summative assessment will also be provided. |
| No Exam Information |
Learning Outcomes
On completion of this course, the student will be able to:
- Demonstrate knowledge and understanding of legal frameworks governing competition law across the UK, EU and US
- Demonstrate knowledge and understanding about the relevance of economics in each area of competition law
- Critically assess the opportunities and challenges involved in the use of economics in legal and regulatory contexts, and in competition law in particular
- Conduct independent research in the area of competition law and economics
- Draw on acquired knowledge to structure, develop and communicate arguments effectively, both orally and in writing
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Reading List
| The core resource for this course is Gunnar Niels, Helen Jenkins and James Kavanagh, Economics for Competition Lawyers (3rd edition, OUP 2023). Other seminar-specific readings will be made available on a weekly basis. |
Additional Information
| Graduate Attributes and Skills |
-Creative problem solvers and researchers: The students conduct research into legal and economic issues and identify creative solutions to problems relating to competition law through analysis of key primary and secondary sources
-Critical and reflective thinking: Students will engage with varied sources and perspectives to understand the nature of competition law and its interaction with economics from a critical perspective
-Passion to engage locally and globally: Covering several major competition law jurisdictions (UK, EU, US), the course encourages students to engage with competition law issues on the domestic, supranational and international levels.
-Courage to expand and fulfil their potential: As an interdisciplinary course, the course encourages students to look curiously beyond law and engage with economics, as well as the related fields of economic sociology and political economy. |
| Keywords | competition law,law and economics,law and political economy |
Contacts
| Course organiser | Dr Andrew McLean
Tel:
Email: amclean3@ed.ac.uk |
Course secretary | Miss Robyn Blyth
Tel: (01316) 514550
Email: rblyth@ed.ac.uk |
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