LAW6644

"Law and Economics" is one of the most important developments in legal scholarship of our times. Economics and game theory have changed the way many scholars and legal practitioners think about law, litigation, and legal process. Legal scholarship using economic analysis is highly influential in legal academia and in courts. The field of law and economics received the highest level of recognition with numerous Nobel Prizes in economics awarded to economists and law professors who contributed to the creation of this field of research, holding joint appointments in various U.S. law schools, including James Buchanan (1986), Ronald Coase (1991), Gary Becker (1992), Vernon Smith (2002), and OliverWilliamson (2009). This course introduces the students to the field of law and economics, with applications spanning across several areas of law, including contracts, torts, property, civil procedure, antitrust, and regulation. No prior knowledge of economics or game theory is required.