23.04.-27.04.	Antitrust Law and Economics	Prof. Daniel L. Rubinfeld, University of California
04.06.-08.06.	Banking: Law and Economics Issues after the Financial Crisis	Prof. Geoffrey P. Miller, New York University

This course is designed to provide students with an understanding of the economic principles that underlie modern antitrust legal analysis in both Europe and the U.S. Topics covered will include merger analysis (Merger Guidelines, market and monopoly power, the analysis of unilateral effects and coordinated effects), the relationship between intellectual property and antitrust (essential facilities, exclusionary practices, and patent misuse), and high technology (network effects, innovation, tying, and monopoly leveraging).  Principles will be developed through a discussion of a number of significant recent high-profile cases.  Students will be expected to work on small group projects during the course week.

The crisis that swept across financial markets in 2008-2009 was one of the most significant economic events of the past half-century - a disaster whose effects are still being felt in the world economy, from sovereign debt issues in Europe to state and municipal bankruptcies in the United States to lingering weaknesses in economic growth, high unemployment, and foreign exchange disruptions. In some respects, the severity of the crisis was a function of the era of stability and confidence that immediately preceded it - a time when bankers and economic policymakers tended to believe that severe downturns in the business cycle and panics in financial markets were a thing of the past. The vulnerabilities in the world's financial architecture exposed by the events of 2008-2009 have stimulated dramatic rethinking about the structure of financial markets and about the efficacy and purposes of the regulation of financial institutions. This course will examine the nature and purposes of the banking firm - understood both in the narrow sense of commercial banks and more broadly as including also "shadow banks" which, while not chartered as commercial banks, fund themselves with short-term liabilities making them subject to runs. We will look at banks as financial intermediaries specializing in payment services and maturity transformation.  Having identified the strengths as well as the weaknesses of banks - analyzed by an examination of a bank's balance sheet - we will consider (a) devices to protect liquidity in banking firms and markets; (b) strategies for regulating the capital of financial firms; and (c) deposit insurance and other interventions in markets intended to prevent financial panics or to mitigate the severity of panics once they begin.

Professor Daniel L. Rubinfeld is Robert L. Bridges Professor of Law and Professor of Economics Emeritus at the University of California, Berkeley and Professor of Law at NYU.  He served from June 1997 through December 1998 as Deputy Assistant Attorney General for Antitrust in the U.S. Department of Justice.  Professor Rubinfeld is the author of a variety of articles relating to antitrust and competition policy, law and economics, and public economics, as well as two textbooks, Microeconomics, and Econometric Models and Economic Forecasts.  He has consulted for private parties and for a range of public agencies including the Federal Trade Commission, the Antitrust Division of the Department of Justice, and various State Attorneys General.  He has received fellowships from the National Bureau of Economic Research (NBER), the Center for Advanced Studies in the Behavioral Sciences, and the John Simon Guggenheim Foundation.  Professor Rubinfeld teaches courses in antitrust and law and statistics, and is a member of the American Academy of Arts and Sciences and a research fellow at NBER.  He is the past President of the American Law and Economics Association.  He has received an honorary doctorate from the University of Basel and has taught a variety of Law and Economics courses in Gerzensee in the past.

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Professor Geoffrey Miller is the Stuyvesant Comfort Professor of Law at New York University and the director of NYU Law School's Center on Financial Institutions. Miller is the author of six books and more than two hundred research papers, including The Law of Banking and Financial Institutions (Aspen Law & Business) and Trust, Risk, and Moral Hazard in Financial Markets (il Mulino). In addition to his service at New York University, he has taught courses in banking regulation at institutions around the world, including the University of Frankfurt, the University of Sydney, the University of St. Gallen, the University of Basel, Harvard University, and the University of Genova.

The following pdf-files contain information on the program fee as well as the application procedure and the admissions process.

• Administrative information
• Application form

Susanne Senn / Teodora Ruiz
Administrative Manager Doctoral Program

Phone: +41 31 780 31 03

Fax:     +41 31 780 31 00

 

Studienzentrum Gerzensee, Dorfstr. 2, CH-3115 Gerzensee, Switzerland