EMLE study plan

Derive Marshallian and Hicksian demand for Cobb-Douglas, quasi-linear and perfect-complements preferences, and state the Slutsky decomposition for each case

Solve consumer choice problems under a budget constraint, distinguishing substitution from income effects and identifying Giffen behaviour

Compute elasticities of demand (price, income, cross-price) from a given demand function and classify the good accordingly

Explain revealed preference axioms and use them to test a small set of consumption bundles for consistency

Derive short-run and long-run cost functions from a production function, including returns to scale and cost duality

Analyse profit maximisation and shut-down conditions for a price-taking firm, and distinguish economic from accounting profit

Compare monopoly, monopolistic competition and oligopoly outcomes, computing deadweight loss from a linear demand and constant marginal cost

Solve a Cournot duopoly and a Stackelberg leader-follower game numerically and interpret the equilibrium quantities

State the Coase theorem precisely, including its assumptions, and identify when bargaining fails to reach efficiency

Distinguish Pareto efficiency, Kaldor-Hicks efficiency and social welfare functions, and apply each to a nuisance dispute

Model a negative externality with private and social marginal cost curves and compute the Pigouvian tax that restores the efficient quantity

Explain the difference between Coasean bargaining, Pigouvian taxation and tradable permits in terms of transaction costs and information requirements

Apply the Hand formula to a negligence scenario and compare the result with a strict-liability rule

Contrast the historical development of civil law and common law traditions, naming the key codification and precedent-setting moments

Distinguish the roles of codified statutes, doctrine and precedent in each tradition and explain how each affects legal certainty and adaptation

Explain the economic argument that precedent generates information externalities and that codification reduces decision costs

Compare judicial reasoning styles (deductive from code versus analogical from cases) using a hypothetical contract dispute

Identify the institutional features of mixed jurisdictions and supranational legal orders and their implications for forum shopping

Analyse contract formation and interpretation through the lens of transaction costs, asymmetric information and default rules

Explain efficient breach, expectation versus reliance damages, and when specific performance is the better remedy

Apply the cheapest-cost-avoider principle and comparative negligence to a tort scenario, computing expected liability under each rule

Explain the economic justification for property rights, including the tragedy of the commons, the anticommons and the bundle-of-rights conception

Compare remedies for takings and nuisance using the concepts of property rules and liability rules

Explain the economic rationale for regulation, including natural monopoly, information asymmetry and public goods, and identify regulatory capture risks

Apply the relevant market definition and market power concepts in competition law, and distinguish per se prohibitions from rule-of-reason analysis

Compute a Herfindahl-Hirschman Index for a given market and interpret concentration thresholds

Solve dominance and Nash equilibrium problems in 2x2 normal-form games, including mixed strategies and prisoner's dilemma variants

Read and interpret a basic regression output, identifying coefficient sign, significance and the limits of causal inference

Structure an argumentative essay with a clear thesis, signposted reasoning and a counterargument that is engaged rather than dismissed

Write precise definitions of technical terms (efficiency, externality, precedent, dominance) that a non-specialist could apply

Edit for concision by cutting nominalisations, hedging stacks and redundant connectives from a draft

Use evidence and citation conventions appropriately in legal-economic writing without overstating empirical claims

Produce a timed 45-minute essay under exam conditions and self-assess against a rubric covering structure, accuracy and clarity

Consolidate all seven domains by re-deriving the ten most examinable results from memory (Slutsky, Coase, Pigou, Hand formula, HHI, Nash equilibrium, efficient breach)

Complete two full-length mock exams under timed conditions and score them against the answer keys

Diagnose recurring error patterns and target the two weakest domains with focused re-study

Rehearse diagram drawing and numerical computation speed so that quantitative items are completed within the time budget