ECO 385 - LAW AND ECONOMICS

College of Business and Economics

Credit(s): 3

This course will survey the field of law and economics. We will study the core areas of common law - property, contract, and tort. We will consider the sometimes-competing goals of equity and efficiency and their roles in the formulation of legal decisions. We will study the Coase theorem, and will see how the presence of transactions costs, incomplete information, and risk aversion can influence the outcome of any particular legal decision. Finally, we will examine criminal law, optimal punishment, and optimal enforcement.

Prereq: ECO 201 and ECO 202 or the equivalent.