ECO 223 - Law & Economics

Course Units: 1

This course is devoted to the analysis of legal mechanisms with formal economic reasoning. We are going to discuss issues such as property law, contract law, tort law etc. in relation to two main economic criteria: efficiency and feasibility. The focus of this course is not on legal rules per se, but on legal mechanisms that would result in desirable consequences by giving correct incentives. As such, ideas from collaborative game theory and mechanism design will be studied and applied. Topics include the allocation of rights, property rights, legal remedies, bargaining and transaction costs. Prerequisite(s): ECO 101 CC: SOCS