Competition law is intrinsically linked with the discipline of economics. In the last few years, economic evidence has become an essential ingredient of a successful competition law case as the application of economics to competition law analysis can result in greater precision and predictability in the law’s enforcement Since economics forms the basis of competition law and is essential in determining and predicting market behaviour, an understanding of the concepts of economics in context of the prevailing law, helps an economist and even a lawyer adopt a more methodical approach while dealing with matters pertaining to competition law. The objective of this course is to equip the students with an in-depth understanding of the economic concepts and tools pertaining to competition law. This course will help the student in applying the economic theory and models to their analysis of competition law cases.
What do you learn?
- Fundamentals of demand, supply and market equilibrium
- Consumer and producer behaviour
- Types of markets and sources of market failure
- Basic concepts in game theory
- Economic tool to define relevant market
- Factors and quantitative tests for assessing market power
- Economics of multi-sided markets
- Cartelization strategies
- Approaches to cartel detection
- Economics of damages caused by cartels
- Economic efficiencies and rule of reason in vertical agreements
- Economics of abuse of dominance
- Anticompetitive effects and efficiency defence in mergers
- Tests for merger analysis
- Merger simulation models
- Merger remedies
- Online reading material is provided that includes concepts and case studies.
- Webinars for new developments
- Competition news updates provided fortnightly
- Online examination for assessment
What is unique about this course?
- It offers a deep understanding of the economic theory of markets, firm behaviour, welfare, business strategies etc.
- It teaches the economic tools used in competition analysis.
- It provides case studies for the ease of understanding of the economic concepts.
- It explores the nexus between economic and legal aspects of competition law.
- It provides quizzes at the end of each module for self-assessment.
- It emphasizes the role of economics in competition law in general, so it can be studied by international students for applicability to any jurisdiction.
- It is an online course, which provides the flexibility to access from anywhere, anytime.
Who should take this course?
- Students studying law, economics or business management
- Practicing lawyers and In-house counsels
- Corporate executives/entrepreneurs to keep their business compliant with competition law
- Chartered Accountants and Company Secretaries
- Management personnel
- Academicians studying in the field of competition law
- Students/professionals desirous of working with competition authority
- Students interested in pursuing a career in competition law
- Any working professional desirous of gaining practical knowledge of competition law
- Competition authority
- Law firms
- Senior advocates
- Law colleges
- Economic consultancies in the field of competition
- Think tanks
- Independent practitioners
How do our students benefit?
Competition law is one such area of law that has been conjoined with economic theory since its inception. Understanding market behaviour, perfect/imperfect competition, incentives to producers and consumers, the rise and fall of consumer demand, the indirect effect of various factors on the price of a product, consumer behaviour, etc. is instrumental to competition law. Since economics is what forms the basis of competition law, as we know it, understanding the economic concepts that regulate competition law is imperative.
Due to its highly unique structure, the Economics for competition law course would definitely prove useful in boosting the career opportunities of students and professionals alike, whether from legal or non-legal background.