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About Centre

Introduction

Law and Economics is a niche area dealing with the interface of the two subjects, wherein economic tools are used to better understand the law and to find its efficiency and working. The field Law and Economics or Economic Analysis of Law is concerned with this interface between the subjects of law and economics. It permits the greater use of economics to examine the law in addition to recognizing the importance of law to an analysis of the economy. Today, the field of Law and Economics has expanded into more areas 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. However, despite these significant advantages, Law and Economics has not gained much recognition in India, as compared to developed countries.

Mission

The mission of the GNLU Law and Economics Center (GLEC) is to create awareness among the general public at large about this nascent field of study, which can play a crucial role in making the Indian Legal System more efficient.

Aims and Objectives
  • To demonstrate the importance of this field in improving the efficiency of laws.
  • To show how law and economics can contribute to policy making and thereby help better deal with prevalent socio-economic problems.
  • To undertake research on contemporary problems, and to further analyze policies from an economic point of view.
  • To collaborate with universities and institutes from across the world to conduct seminars and certificate courses, for dissemination of knowledge.