Law and EconomicsCarret icon
(2 cr.) This course explores the use of economic analysis in the study of specific legal problems, of the existing legal system, and of proposed modifications to existing legal structures. It begins by examining the nature of economic reasoning and limitation of applying economic theory, the course explores the economic foundations of property law, including entitlement theory, pollution problems, monopoly problems, government allocation of resources, and public property rights. It then examines the economic theory as applied to criminal sanctions and criminal law, tort negligence theory, strict liability, economic foundations of contract law, and contract impossibility. The direction of the course from that point is partially determined by the interest of the class but may include problems of population control, allocation of scarce medical resources, justification of inheritance, economic analysis of rent control and housing code enforcement, consumer problems, and military service. In general, the course avoids delving into areas that are covered in depth in other courses such as tax policy, antitrust law, and regulated industries. Every Year, All
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