FACULTY OF LAW
Law is a system of rules and social norms that govern relationships between people and organizations. Who makes these rules and how they apply varies across different social groups, or countries.
The term law has more meaning, but this multiplicity of meanings is more present in legal theory and philosophy of law than in everyday life.
There are three different approaches to defining the concept of law.
- Jusnaturalism, for which the law is an ethical phenomenon.
- Legalism and normativism, for which law is a set of norms as psychological or logical-linguistic terms.
- Socialism, for which law is a socio-material category.
Economics comes from the Greek word oikonomia; oikos-house, nomos-law. Economics is a scientific discipline that studies how societies use scarce resources to produce certain goods and services and distribute them to people.
At the heart of the above definitions are two key ideas in economics.
First: All goods are scarce. There is no way a country can produce infinite quantities of goods.
It follows that no matter how developed a country’s economy is, it does not produce enough to satisfy even the smallest wishes of all its inhabitants.
Second: Given that desires are unlimited and goods are limited, the economy must find a way to produce good in the most efficient way possible. Efficiency is, therefore, another important determinant of modern economies.
From these two ideas, three fundamental questions arise in economics. These are the “what”, the “why” and the “for whom” to produce. That is, each society must choose which goods to produce, how (more or less effectively) and how the goods will be distributed. These three problems are central problems that the economy of any society in the world revolves around.
Economics as a science deals with the discovery, analysis and deepening of knowledge about economic laws and phenomena in social production, from the point of view of the analysis of production relations (classical economic theory), ie the rational use of limited resources and unlimited human needs. The analysis is done at the macro and micro levels.
