ECON 320 - Law and Economics

An introduction to law and economics. Standard economic theory is used to examine the law and legal institutions, and to study the origin, nature, and consequences of the “rules of the game” as they pertain to individual and group behavior. Questions addressed in this course include the following: How does the legal system shape economic incentives in ways that lead to socially optimal or sub-optimal behavior? How does one measure the benefits and costs of changes in legal rules? What is the nature of private property in a market economy? What is the appropriate role of a legal system in settling private disputes?

Credits: 1.00
Corequisite: None
Prerequisites: ECON 251
Major/Minor Restrictions: Only Economics, Environmental Economics, Mathematical Economics majors and minors
Class Restriction: None
Area of Inquiry: Social Relations,Inst.& Agents
Liberal Arts CORE: None

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