LAW-2252 Law and Economics
This course provides an introduction to economic analysis of law. The course covers economic analysis of torts, contracts, criminal law, cost benefit analysis, health, safety, and environmental regulation, risk and insurance, behavioral law and economics, and legal procedure. The economic approach is introduced using simple examples and problem sets, and then extended using case studies of particular topics. Case studies will be chosen based on student interest. Possible case study topics include a comparison of the tort system and no-fault liability for preventing medical errors, the problem of insuring against natural catastrophes, the regulation of sub-prime mortgage lending, and the politics of risk regulation. No prior knowledge of economic analysis is required. Students will be evaluated based on class participation, completion of a handful of problem sets, and either an open book exam or a paper. Paper will qualify for the Legal Writing Requirement.