4th GNLU ESSAY COMPETITION ON LAW AND ECONOMICS, Last Date of Submission: 15th September 2021

The centre for law & economics is a centre of excellence for research and training in the Discipline of law & economics (also referred to as the economic analysis of law). The centre Values rigorous work in the discipline and aims to promote awareness of and research in the Field. It carries out courses and conferences for scholars, practitioners and students apart From publications on the economic analysis of contemporary legal issues. It aims to produce Quality prescriptions for legislators, regulators and government departments and provide Clear explanations and guidance to businesses and ordinary citizens alike. Centre for law and Economics has always tried to reach out to bright and young minds who have keen interest in Employing economic tools and theories for legal analysis. Some of these efforts can be seen at GNLU centre for law and economics page for past events. GNLU also offers a PH.D degree Course in economics to promote academic skill and research vigor in economics and law

Theme of the essay competitions

The subject of ‘law & economics’ or ‘economic analysis of law’ is concerned with this interface between the subjects of law & economics. It permits the greater use of economic tools and Concepts to examine and understand the law in addition to recognising the importance of law. To the analysis of the economy. Today, the field of law & economics has expanded and transformed subjects such as property, contracts, torts, criminal law and procedure, Constitutional law, administrative law, environmental law, family law, etc. The inherent Advantage of this field is that its objective nature permits the legal system to function Rationally and more efficiently. Besides, it provides a useful normative standard for evaluating Law and policy. Law & economics is a cutting-edge, interdisciplinary field that applies tools From microeconomic theory to legal rules and structures so as to explain their functioning, Evaluate their performance and prescribe alternative rules and structures so as to create Optimum social outcomes

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