Guest Lecture on 'Law and Economic Analysis'
VENUE: ASSEMBLY HALL, SLSH 10.00 AM TO 1.00 PM
RESOURCE PERSONS:MR. K. RAJENDRA,MR. A. SRIDHAR SHARMA
INTRODUCTION: Lawyers and legal scholars use the phrase “law and economics” which refers to the application of microeconomic analysis to legal problems. Because of the overlap between legal systems and political systems, some of the issues related to law and economics are also raised in political economy. Law and economics emphasizes on incentives and people’s responses to these incentives. It stresses that markets are more efficient than courts and when possible, the legal system, according to the positive theory, will force a transaction into the market. Economics, whose subject, at the most fundamental level, is not money or the economy but the implications of rational choice, is an essential tool for figuring out the effects of legal rules. Knowing what effects rules will have is central both to understanding the rules we have and to deciding what rules we should have. Economic concepts are used to explain the effects of laws, to assess which legal rules are economically efficient, and to predict which legal rules will be promulgated. The fundamental assumption of the economic approach, to law and everything else, is that people are rational.
OBJECTIVE OF THE GUEST LECTURE:
Symbiosis Law School, Hyderabad has organized the guest lecture on law and economic analysis to:
- Explain the effects of laws in relation to economic concepts
- To assess the legal rules which are economically efficient
- To predict which rules will be promulgated
10:00am Formal Introduction of the Guest Lecture
10:05 am: Welcome address, Introduction and Felicitation of the Resource persons by Prof. Dr. M. I. Baig, Director, SLS,H
10.15 to 11.30am Mr. K. Rajendra addressing the students
11.31am to 12.45pm Mr. Sridhar Sharma addressing the students
12.55pm Vote of Thanks by Dr. Sukhvinder Singh Dari, Dy. Director, SLS, Hyderabad.
- 1. Prof. R. Radhakrishnan,