The aim of this course is to provide lawyers not having an economic background with an introduction to economic theory underlying EU Competition Law. The course links hence well with the other Competition Law courses in the curriculum. After having introduced the basics of microeconomic theory such as supply and demand, cost concepts, elasticity and barriers to entry, the professors discuss economic concepts which are highly relevant to competition lawyers such as market definition, market power, oligopoly theory, cartel co-ordination, co-ordinated and non-coordinated effects in the assessment of mergers, vertical restraints and dominant firm behaviour.
On completion of the course, students will be expected to be able to master the key economic concept relevant to competition law. The students will also become familiar with the economic analysis of mergers, cartels, abuse of dominant position, and vertical restraints, and will be able to understand and evaluate the economic analysis of competition cases.