Economics of Law and Order

Catalog description

This course examines legal institutions through the lens of economics. Emphasis is placed on how changing laws influence outcomes at a societal level. In each lesson, students will focus on the relevant economic background and institutional structure and then deduce how this in turn informed choices made by participants in the economy. The economic order that is generated by the interaction of countless individuals and firms is mediated through the legal system. If one wishes to understand this extended order, one must understand the legal institutions in which it operates.