4th GNLU Essay Competition on Law and Economics-Last Date of Submission – 15th October 2021

CENTRE FOR LAW & ECONOMICS (CLE)

The Centre for Law & Economics (CLE) 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 PhD degree course in Economics to promote academic skill and research vigour 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. Law & Economics has seen prolific development in various jurisdictions and has elicited startling results that have changed the way we look at and run our legal systems, winning scholars a number of accolades, notably including the Nobel Prize in Economics.

This calls for a general theme of law and economics for the Essay Competition. With further restrictions around the world due to COVID-19, economic policies have evolved impacting major sectors. The Centre encourages the submission of manuscripts for essays focusing on the economic analysis of law. Manuscripts may be in any of the substantive areas of Law and Economics, including but not limited to the following:

•      Basic Areas of Law and Economics: Property, Contract, Tort Law and Product Liability, Forensic Economics, Criminal Law, Civil Law, Common Law, Constitutional and Election Law.
•       Regulation and Business Law: Antitrust, Business and Securities, Regulated Industries, Business and Cyber, Real Estate.
•      Economics of Legal Procedure: The Legal System Litigation Process, Illegal Behavior and Law Enforcement.
•  Macroeconomics and Law; Use of economic tools in Public Policy analysis.
•   Law and Finance: Financial sector reforms in India formation of monetary policy, Cyber Crimes, Stock Market Regulations, Sovereign Bonds, Corporate and Banking Bankruptcy, Bankruptcy code, Tax Evasion, Black Money, Basel and Financial Stability Board norms, WTO and the Financial Services;
•   Market Regulators: IRDA, TRAI, SEBI, PFRDA, Antitrust; Regulated Industries/ Competition law and working of the commission, Consumer laws, Financial Sector Legal Reforms Commission.
•  Economic Analysis of litigations: Causes of delays/pendency in judicial administration, costs of delays, out of court settlements, Judicial reforms, Legal Procedures, the legal system and illegal behaviour, Enforcement of law.
•  International Law (public and private): International Trade, Law and Development, Environmental Law, Human Rights Law.
•  Other Substantive Areas of Law and Economics Labor, Energy, Environmental, Health, and Safety, International, Tax, Family and Personal, Immigration.
• The above themes are only indicative. We invite essays from other allied areas of Law and Economics as well.

WHO ARE ELIGIBLE TO CONTRIBUTE?

GNLU through its Centre for Law and Economics has been working towards the creation of interest an awareness in legal study using economic tools. Apart from that GNLU also offers a PhD degree course in Economics. Following this aim further, the current edition of GNLU Essay Competition on Law and Economics aims to promote young scholars and researchers having an avid interest in the field of Law and Economics. GNLU Centre for Law and Economics has always tried to reach out to bright and young minds who have a 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.

In order to promote such young minds, the theme of this edition of the Essay Competition is targeting the following:

§  Students/Research Scholars pursuing M.A./M.Phil/Ph.D Discipline in Economics

§  Research Scholars pursuing PhD in the interdisciplinary study of Law and Economics

§  Students/Research Scholars pursuing M.A./M.Phil/Ph.D Discipline in Statistics

§  Students/Research Scholars pursuing M.A./M.Phil/Ph.D Discipline in Public Policy

§  Students/Research Scholars pursuing M.A./M.Phil/Ph.D Discipline in Development Studies

§  Students pursuing Five-Year/Three LLB Discipline

§  Students pursuing One-Year/Two-Year LLM Discipline

§  Academicians teaching and researching in the interdisciplinary study of law and economics.

§  Professionals working in Banking, Finance or Economics field.

This is not an exhaustive list. Students, Researchers, Academicians, Professionals having an avid interest in the interdisciplinary study of Law and Economics are welcome to contribute to the Essay Competition too. However, we strongly promote Young Researchers, Scholars and Academicians to contribute to this Essay Competition and be associated with GNLU Centre for Law and Economics.

 CASH PRIZES:

1st Prize to Best Essay: 15,000 (INR) Cash Prize + Publication in GNLU Journal of Law and Economics.

2nd Prize to Second Best Essay: 10,000 (INR) Cash Prize

3rd Prize to Third Best Essay: 5,000 (INR) Cash Prize

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