Law and Economics

In this course we will use the tools of economics to analyze legal institutions and examine the way that the law influences incentives and behavior. Particular emphasis will be placed on how economics informs law in the areas of property, contracts and torts (accidents). Much attention will also be given to the evolution of the law and the extent to which this evolution promotes or discourages economic efficiency. (ECON 0155) 3 hrs. lect.