Fall 2014 - Economic Analysis Of Private Law
Credit Hours: 1 Course ID: 179M Unique # 29538
|TTH||8:10 - 10:15 am||TNH 3.129|
This course is restricted to upper division students only.
What's the best way to reduce car accidents? Should people be allowed to breach contractual promises as long as they pay damages? Should we design tort law to reduce car accidents rate to zero? Should private parties be allowed to take each other's property paying just compensation? Should we allow third party litigation funding? This course examines these and similar questions through the lens of economic analysis of law. Economic analysis of law applies economic principles to legal analysis. The course explores how this approach sheds light on a variety of otherwise-puzzling aspects of private law. The course will also examine the limits of economic theory, asking such questions as: Are people really rational? Is efficiency fair?
The course is a 1-credit course offered over three weeks in October. No background in economics is required or assumed.