IB/IL 327 - The Legal and Regulatory Environment of Business: A Comparative Look at the EU and the U.S.

The course provides a survey and examination of laws affecting business operations and the market for goods, services, and securities in the European Union and the United States. These laws will be compared and contrasted with regard to policy and procedure in parallel areas. Students will be asked to critically assess the relative effectiveness, reasonableness, and fairness of the contrasting approaches where appropriate. Through such thinking, the student should develop an appreciation for the political and cultural content of “public policy” as it is expressed in law. To the degree possible, problems specific to the local, Austrian, market will be incorporated in order to give more specific content to the discussions. This would include topics such as United Nations Agencies, OPEC, and special markets including the Performing Arts and the Wine Industry.

The course is also much more than a course in law. It is multi-disciplinary in approach and attempts to build on a foundation of the liberal arts and business disciplines allied to law. Law functions as one of the focal points where effective decision-making draws from multiple arenas and perspectives. Law also promotes and requires that analysis include points of view that conflict with the interests of the decision maker. The course materials also emphasize that merely following the law is not enough. Responsibility requires an awareness of the ethical component that is a part of every conflict over resources.