This course is about economic analysis of law. Students will learn to apply basic economic analysis to legal rules. The course will enable students to think critically about the desirability, efficiency, and effectiveness of laws and regulations in light of economic analysis of legal rules.
The course will review the basics of microeconomic theory, survey the structure of the legal system and its primary regulatory actors, and explore the substance of a number of relevant legal rules and regimes. The course will then examine and analyze the legal system in light of foundational topics and emerging concepts in the economic analysis of law (including behavioral economics).
This course will also explore the implications of economic analysis for the design and practice of law and regulation, particularly laws and regulations that affect commercial and economic activity. It will consider questions about the appropriate scope, and effective design, of such law and regulation.
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