We observe that contracts have become increasingly complex and comprehensive over time. What are the fundamental causes of this complexity and what challenges does it create? What strategies can be used for managing this complexity and(or) exploiting it? What benefits can be reached with contracting practice that uses “less legalese”? The course is based on the Law and Economics theory on Contracts and interdisciplinary approach within Legal Design.
The theory and substance part will involve reading and discussing scholarship from Economic Analysis of Law and Behavioral Science. We will cover, among others, concepts of bounded rationality, rational choice theory and empirical as well as experimental studies common in the field of Law and Economics. The practical part will involve case studies of commercial contracts. The course is not covering different types of contracts but rather it is based on contract theory (L&E) that will be applied to legal design approach.
- You will acquire knowledge of general terminology and principles of Legal Design within the framework of Law and Economics of contracts.You will acquire knowledge of general terminology and principles of Legal Design within the framework of Law and Economics of contracts.
- During the lessons, you will learn to apply Legal Design techniques and methods to improve business operations.
- You will learn how Legal Design can be used as a way to empower people. They will gain the ability to break down a complex transaction and explain it clearly to a non-expert
The course can be taken by students both from Helsinki and Vaasa.
- Teacher: Matti Kukkonen
- Teacher: Katri Nousiainen