Economics of Law

Catalog description

Pre-req: Completion of the Core Curriculum Research & Professional Writing requirement, ECN 302. The economic concepts of public and private goods, externalities, and benefits vs. cost will be used to analyze the economic basis for and effects of property, contract, and tort law. Important cases will be discussed and issues such as the rules for determining the liability for accidents will be explored. In addition, the trade-offs involved in the use of the legal system itself will be explored in such areas as plea bargaining, trial vs. settlement of civil cases, and various arrangements for payment of legal costs.