ECO 3330 - Law and Economics

Credits: 3 hrs

This course is intended as a one-semester introduction to the economic analysis of the law for students of economics and related social science fields. Students will apply the principles of the rational choice model of behavior to explain the evolution of Western legal institutions and the structure of modern law. Specific topics addressed in the course are: the relationship between legal systems, incentives, and behavior; the evolution of private property rights and market economies; the relationship between the law, efficiency, and equity; and the economic analysis of torts, contracts, and criminal law. After completing this course, students will be able to better understand the nature of the legal system, the effect of changes in laws on their welfare and the welfare of others, and to critically evaluate legal debates. Prerequisite(s): ECO 2311