[FAIE] Economic Law – Where Law and Economics Intersect, Creating Strength for National Development

Economic Law has been and continues to be a field of study that attracts significant interest from young people. It offers numerous employment opportunities and strong potential for future career development for students, with high demand for human resources. Moreover, experts evaluate Economic Law as a field with substantial career development prospects in the future, as there is an increasing need for highly qualified professionals with in-depth knowledge in this area.

To help you establish a foundation for career orientation and choose the right major, in this article LHU provides an overview of the Economic Law program.

Economic Law – What Is It?

Vietnam’s economy is increasingly flourishing with the continuous development of domestic companies and enterprises as well as foreign-invested corporations. More than ever, the legal framework and issues related to economic policies must be ensured. Any enterprise or organization needs to clearly understand legal regulations in order to conduct business activities in compliance with the law.

Economic Law (in English: Economic Law) is a field of study grounded in Law and integrated with knowledge in economics and commerce. In the context of a market economy, Economic Law consists of the body of legal regulations issued by the State to regulate economic relations arising in the process of state economic organization and management, as well as in the production and business activities among economic entities. Economic Law was established to maintain and resolve disputes in business and commerce, and to ensure the operational processes of enterprises during domestic and international transactions and exchanges.

In recent years, the Economic Law field has continuously affirmed its role and position as an essential foundation for successful integration. Clearly, to integrate effectively and attract foreign investment capital, it is crucial to demonstrate a complete legal framework that maximizes the protection of investors’ rights and interests, thereby giving them confidence when investing in Vietnam.

What Do Economic Law Graduates Do?

According to the Ministry of Justice, the demand for human resources in Economic Law is increasingly rising, especially in enterprises, multinational corporations, banks, financial institutions, law firms, legal consultancy organizations, and state agencies. It is forecast that by 2025, the demand for Economic Law human resources will increase by approximately 10–15% annually. Currently, around 40,000–50,000 law students graduate each year. However, the number of students with in-depth specialization in Economic Law remains very limited.

With the interaction among different economies and the multidirectional development of social life, jobs related to the legal sector are becoming increasingly essential. Currently, Economic Law is considered a field with high recruitment demand and attractive income levels. This major equips students with quick responsiveness, flexibility, comprehensive knowledge, critical thinking skills, an engaging career, good income, and social recognition.

Especially in today’s era, as issues of developing and improving human resource quality, advancing education, and enhancing training quality to meet labor market demands become more important, graduates in Economic Law have even more career opportunities. They can easily choose jobs with attractive salaries and high promotion prospects. Economic Law graduates may assume positions such as:

• Legal consultants who analyze, assess, and resolve issues arising in business activities and ensure that activities related to law within organizations, companies, and enterprises comply with state policies and relevant international conventions in the economic field;

• Legal professionals providing legal services of lawyers or practicing lawyers;

• Staff working at commercial arbitration centers and units providing legal consultancy services;

• Legal advisors, legislative officers, executive officers, and judicial officers;

• Researchers and lecturers in Economic Law at research institutes and educational institutions;

• Officials working at state agencies (People’s Procuracy, People’s Court, etc.).

The Economic Law training program of Lac Hong University is developed based on societal demand for Economic Law graduates who possess strong political qualities and professional ethics; fundamental legal knowledge; and practical legal knowledge in Vietnam and internationally, in order to meet the workload related to legal matters in economic organizations (human resources and legal departments), state agencies, legal practice organizations (lawyers, notaries, bailiffs), as well as research and teaching in Economic Law at research and educational institutions in the current period.

The Appeal of Economic Law for Dynamic Young People Passionate About Law and Economics Who Are Not Afraid of Challenges

Dynamic and Challenging:

Young people who are passionate about law and economics, possess dynamic personalities, and enjoy innovation will appreciate the dynamic, flexible, and challenging learning and working environment of Economic Law. This field is constantly evolving and developing, continuously updating new regulations and social trends to adjust legal relations in line with reality, requiring learners to continuously enhance their knowledge and skills and regularly update new legal regulations to adapt in practice.

Although constantly evolving and not confined to any fixed regulation, this field is highly challenging, requiring students to withstand high pressure, adapt to a dynamic and competitive working environment, and, above all, possess strong self-learning ability, logical thinking, and practical problem-solving skills. When studying and researching Economic Law, students develop logical thinking, analytical and argumentative skills, and effective problem-solving abilities, which are suitable for those who enjoy learning, researching, and resolving legal issues in the business environment.

Broad Career Opportunities:

Economic Law offers numerous career opportunities in various sectors such as:

• Enterprises: legal officers, legal consultants, legal department staff, internal auditors, etc.;

• Banks: banking lawyers, legal officers, etc.;

• Law practice: practicing lawyers, legal consultants, etc.;

• State agencies: inspectors, procurators, judges, clerks, etc.

Economic Law combines legal and economic knowledge, offering diverse job opportunities related to the field. Students can easily find positions suited to their abilities and interests. The demand for Economic Law human resources is increasingly high in enterprises, financial institutions, banks, etc. The field also opens opportunities for young people to start businesses in legal consultancy and legal services.

Attractive Salaries and High Promotion Prospects:

Economic Law is a profession with attractive income levels corresponding to one’s capacity and qualifications. The starting salary for new Economic Law graduates ranges from 8 to 15 million VND per month, depending on experience, competence, and job position, and may increase significantly.

Salaries for experienced lawyers, legal specialists, legal consultants, and enterprise managers can reach tens of millions of VND per month. With knowledge of Economic Law, income may be higher compared to other majors. With competence and experience, Economic Law graduates may advance to leadership positions in enterprises and economic organizations.

Enhancing Logical Thinking, Argumentation Skills, and Problem-Solving Ability:

This field helps young people develop logical thinking, analytical reasoning, and scientific problem-solving skills. Students have opportunities to practice and enhance these essential cognitive skills. At the same time, Economic Law requires learners to analyze situations, construct sound arguments, and propose appropriate solutions.

Moreover, students enhance their business knowledge, gain deeper understanding of markets, business operations, and enterprise management; expand networks; and have opportunities to meet and interact with enterprises, lawyers, and experts in the economic field.

Economic Law plays an important role in promoting socio-economic development, providing high-quality human resources for agencies and organizations operating in the economic sector. It is an important field with significant development potential, equipping students with essential knowledge and skills to work in various areas of the economy.

Additionally, communication, negotiation, and presentation skills are strengthened through study and practice, helping students develop logical thinking, analytical ability, problem-solving skills, and effective communication.

A Highly Applicable Field:

Economic Law integrates legal and economic knowledge to resolve legal issues in business activities. It is highly practical and suitable for dynamic young people who enjoy applying theoretical knowledge to real-life situations. Therefore, graduates possess solid professional skills and the ability to meet job requirements related to legal fields for which they have been trained.

Modern education requires theory to be integrated with practice and to meet societal demands, aiming to develop learners’ practical competencies through real experiences and practical exposure. It is necessary to strengthen practical skills alongside theoretical training so that students can optimally apply acquired knowledge in real work, gain broader perspectives, understand practice while studying theory, and develop their own viewpoints on real cases based on legal foundations.

Professional Working Environment:

Students majoring in Economic Law have opportunities to work in professional and dynamic environments with numerous opportunities for learning and self-development.

Furthermore, pursuing this field allows students to meet, interact, and learn from successful professionals in the fields of law and economics.

Contributing to a Civilized and Developed Society:

Economic Law plays an essential role in ensuring that business activities comply with the law, contributing to a healthy business environment, a comprehensive legal system, lawful business operations, and the development of a civilized society and a growing economy.

A Multidisciplinary Field Combining Law and Economics:

Economic Law equips students with knowledge in law, economics, finance, and commerce, providing an overall understanding of business activities and the role of law in the economy.

A Contemporary Field: Economic Law continuously updates legal and economic changes, ensuring students acquire knowledge and skills aligned with practical demands.

High Demand for Human Resources:

As the economy continues to develop, enterprises and economic organizations increasingly require personnel with knowledge of both law and economics. After graduation, Economic Law students can work in enterprises, economic organizations, banks, financial institutions, state agencies, etc. The field opens broad career opportunities, with growing demand for lawyers, legal specialists, legal consultants, enterprise managers, and other professionals knowledgeable in Economic Law.

With these advantages, Economic Law is an excellent choice for dynamic young people passionate about law and economics who are not afraid of challenges.

Reasons to Choose Economic Law at LHU:

In recent years, Lac Hong University (English name: Lac Hong University) has affirmed its position in its training strategy across levels and disciplines. Upon graduation, students secure employment immediately, as the University has signed cooperation agreements with enterprises with the training objective: “nurturing talents, developing human resources.” Keeping pace with societal trends, the Economic Law major at LHU has become a reputable training program in the Southeast region. LHU has consistently created “shortcuts” for learners to access domestic and international enterprises, contributing to supplying society with legal experts possessing knowledge and skills in business law within an increasingly internationally integrated market economy.

Training Quality:

Experienced Faculty: LHU has a highly experienced and qualified academic staff, including many Doctor of Philosophy (Ph. D), MB, lawyers, and economic experts.

Advanced Curriculum: The Economic Law program at LHU is designed based on actual labor market demands, updating the latest knowledge in law and economics.

Modern Teaching Methods: LHU applies modern teaching methods emphasizing practice, enabling students to effectively apply knowledge in real situations.

Additionally, during their studies, LHU organizes practical legal seminars to help students grasp new professional requirements in the integration period, as well as the “Mock Trial” program to familiarize students with judicial activities alongside theoretical learning.

From the early years of study, LHU also organizes internship observation programs to help students become familiar with real working environments before graduation.

University Reputation:

LHU is highly evaluated by international educational organizations: LHU is rated 4 stars by QS Stars and ranked among the top 1000 universities worldwide according to THE WUR 2023. LHU is a reputable university with more than 25 years of training experience.

LHU maintains extensive partnerships with domestic and international enterprises and organizations, providing students with numerous internship and employment opportunities after graduation.

To ensure graduate competency in alignment with societal needs, the Economic Law program at LHU regularly evaluates its curriculum and learning outcomes over the years to adjust the program according to social demands, ensuring that graduates possess comprehensive legal knowledge and essential skills to work in enterprises, state agencies, and other organizations.

Learning Environment:

Modern Facilities: LHU possesses modern and well-equipped facilities, with a comprehensive library of books and learning materials.

Dynamic Environment: LHU regularly organizes seminars, specialized courses, and extracurricular activities to help students develop personal competencies.

Friendly Environment: LHU has dedicated and supportive staff and personnel who are always ready to assist students.

Tuition Fees:

LHU offers various scholarships for high-achieving students and those in difficult circumstances. Moreover, students can be assured that tuition fees will not increase throughout their study period at the University.

Convenient Location: LHU is located in Bien Hoa City, Dong Nai Province, a dynamic and developing city convenient for students’ study, living, and personal development.

Opportunities for Extracurricular Participation: LHU offers numerous clubs and extracurricular activities that help students develop soft skills and life skills.

With these advantages, LHU is a suitable choice for students wishing to pursue Economic Law.

The Economic Law program at Lac Hong University was established to provide human resources for economic legal sectors, addressing issues arising in state economic organization and management or in business activities among economic entities. In its development orientation, LHU continuously adjusts the training program to align with societal changes to produce high-quality human resources that meet the needs of enterprises and society in organizing and managing the market economy. In the context of strong interaction among global economies, complex issues frequently arise requiring legal intervention. Particularly, Bien Hoa is recognized as a key industrial zone, requiring abundant Economic Law human resources to support enterprises and organizations in legal and related matters.

Is It Easy for Economic Law Students to Find Employment?

With the continuous development of domestic enterprises and foreign-invested corporations, ensuring the legal framework and economic policy-related issues is more important than ever. It can be said that Economic Law has become an indispensable profession in modern society, equipping students with in-depth legal knowledge and practical business law skills; research capability; and the ability to address legal issues arising in business operations and state management of enterprises.