Economics

ECON3845Introduction to Law and Economics3 ch (3C) [W]

This course applies the tools of economic analysis to the study of legal rules and institutions. Topics and case studies in three core areas of the law - property, contracts, and crime and punishment - are used to illustrate and develop two related ideas. The first is that economic principles have guided significant developments in the evolution of the law in many areas, and an understanding of these economic principles will lead to a better understanding of the law as it is currently practiced. The second is that economic analysis can be used to assess and critique current law from a social perspective, leading to improved public policy evaluation and formation in all areas of civil and criminal law.

Prerequisite: First-year microeconomics (ECON 1001, or ECON 1013, or ECON 1014 or ECON 1073), or permission of the instructor.