ACL3: 20. Competition Economics
Economics relies on theory, numbers and scientific evidence. Competition is an economic concept. Economic evidence and analysis, therefore, play a crucial role when dealing with competition law cases.
What is market power? How do you measure it in economic terms? What makes a company dominant? Is holding 80% of the market share good enough to make one dominant? Or must one have 99% to be considered dominant? What is a market? Why is dominance only measured in a relevant market? What is the relationship between profits and market power? When are vertical and horizontal restraints justified and when are they not? When and why are cartels unjustified? For all these questions we have to inevitably go back to economics and economics is used to answer many of these questions.
On completing this course, you will have a basic idea of how economics is used in competition law cases. It will also help you weave economic arguments in your case when fighting a case. If concepts are clear from an economic perspective, you as a competition lawyer will have significant value to add to your cases. It is akin to adding another layer of argument, which has its consistency, scientific rigour and method. This layer of economics will make your case very strong and persuasive. And often, it will be the key to persuading the judge.
Who should take this course?
Law Students and Recent Law Graduates, Lawyers, In-House Counsels, Legal Professionals who wish to switch to corporate practice or looking to kickstart a career as Transactional Lawyers, Chartered Accountants, Company Secretaries, Cost & Work Accountants, Government Officials, Academicians, Managers, Chief Executive Officers, Company Directors, Prospective Entrepreneurs, may take this course. The course would help launch law students into a career in corporate law and help practitioners develop their corporate law practice. Business professionals, advisors and managers interested in a detailed legal understanding of corporate affairs may take this course to hone their legal skills.
This course is part of EBC Learning — CII, Upskill Diploma in Advanced Corporate Law Path. There are no prerequisites to enrol.
Yugank Goyal is an Associate Professor of Public Policy at FLAME University. Earlier he taught at Jindal Global Law School. His tryst with the Economics of Competition Law began while studying Masters at Erasmus University Rotterdam, where later, he also pursued his PhD in law and economics. Given his interdisciplinary background, he enjoys making complex ideas simple, something visible in his treatment of the Economics of Competition Law.
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