Law and Economics

This course explores the insights economics offers about both how the legal system ought to be structured and the implications of its actual design. The course gives particular attention to the key areas of property law, contracts, torts, and criminal law, though it will also look at issues such as civil and criminal procedure. The course will present the traditional law and economics models developed over the past 30 years, but it will also consider the criticisms of and limitations to such models, and it will look at the implications of recent developments such as behavioral law and economics and the rise of empirical law and economics. No prior knowledge of economics is assumed.
Credits: 3

Type: LEC