Course Description
An efficiency-based perspective on major areas of the law, including contract, tort, and nuisance law, which points to the reduction of transactions costs as unifying legal principle.
Additional Requirements for Graduate Students:
A course project or additional exam will be required of graduate students.
Athena Title
ECN ANALYSIS OF LAW
Prerequisite
ECON 4010
Semester Course Offered
Offered every year.
Grading System
A - F (Traditional)
Course Objectives
The field of law and economics uses the standard microeconomic tools and concepts of scarcity, choice, preferences, incentives, and supply and demand to explain legal and political rules, social conventions and norms, firms and contracts, government organizations, and other institutions. The class's perspective will be that of the economist, trying to understand these institutions by reference to purposeful human choice.
Topical Outline
Introduction to Law and Economics Legal Institutions Common Law and Efficiency Property Law Contract Law Securities Law Contract Law Regulation and Rent Seeking Uncertainty, Risk, and Insurance Tort Law Criminal Law
Syllabus