Excerpt from course description

Economic Analysis of Topics in Law


Laws and legal institutions in society serve many purposes. Maby most importantly, the presence of laws and legal institutions lay the ground for the use of legal sanctions. That is, laws and legal institutions ensure that certain actions can be sanctioned in a predicable way and that bilateral agreements (contracts) can be enforced. A key question that arises with respects to legal sanctions is how and to what extent they affects behavior.

The field of economics provides a theory to predict behavior. Specifically, economic theory predicts how behavior responds to changes in costs and benefits associated with actions. Consequently, economic theory is well suited to study how legal sanctions affect behavior.

This course will introduce students to the concept of economic analyses of law. Students will be introduced to fundamental concepts in economics and learn to apply them to various topics in law including property law, tort law, tort law, contract law, legal processes, and criminal law.

Course content

  • Microeconomic theory
  • Economic analysis of:
    • Property law
    • Tort law and liability
    • Contracts and contract law
    • The legal process
    • Criminal law


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