This seminar provides a one semester introduction to the field of law and economics. Economic theory provides the jurist and the lawyer with tools to analyze the effects of legal rules on the behavior of individuals and firms. We start with the assumption that individuals act rationally, economic analysis of the law allows one to examine the expected outcomes from adopting a certain legal rule, and the welfare effects of such a rule, including its implications over efficiency, equality and fair distribution. Then we also examine the behavioral and the experimental challenges to these assumptions and their effects on the optimal legal rules. This seminar will apply economic theory to various fields of law, including Tort law, Property law, Contract law, Procedure, and Criminal law. Grades will be based on a seminar paper. NOTE: A limited number of students may be permitted to satisfy the upper-class writing requirement. **A student who fails to attend the initial meeting of a seminar (designated by an (S) in the title), or to obtain permission to be absent from either the instructor or the Registrar, may be administratively dropped from the seminar. Students who are on a wait list for a seminar are required to attend the first seminar meeting to be considered for enrollment.

Note that this information may change at any time. Please visit the Student Link for the most up-to-date course information.