Through this course, students will learn how the use of microeconomic and game theoretic tools can help us to understand possible unintended consequences of legal rules, policies and institutions. Through recognition of these consequences, more effective policies can be designed.
Contents
This course approaches the topic of law through the lens of economic theory. The material uses tools of microeconomics and game theory to understand the construction, applications, advantages, and drawbacks to legal rules and institutions, contract, political rules, laws, and social norms. The focus is on the American common law legal system, but we will also discuss the civil law system.