486 Jurisprudence (Kaplinsky)

LAW486

Jurisprudence: An Introduction to Law & Economics

(Kaplinsky)

Prerequisite courses: 

Prerequisite for: 

Instructor(s): Professor Eran Kaplinsky

Method of presentation: Lecture/seminar

METHOD OF EVALUATION

Final paper (80%) and class participation (20%)

COURSE DESCRIPTION

This seminar provides an introduction to economic analysis of law. No formal background in economics is necessary. We will explore the concept of economic efficiency and its role in legal analysis: Are law and legal institutions efficient? Could they be more efficient? Should they be? These questions will be explored through analysis of a variety of legal problems taken from tort law, contract, property, criminal law, family law, and other areas of the law, including: What is the most effective method of controlling pollution? Can we assign a dollar value to human life? Should individuals be allowed to trade in body parts? Should contracts be enforced by specific performance or damages? How do we decide when to jail perpetrators of harm instead of making them compensate their victims? In the course of investigating these questions we will also highlight several key law & economics concepts, including externalities, property rules and liability rules, risk aversion, moral hazard and adverse selection, ex ante and ex post, strategic behaviour and game theory, and others.

SPECIAL COMMENTS

Description updated 2023-24. Please contact the instructor for any specific questions you may have related to this particular course section.

REQUIRED TEXTS (IF ANY):

David D. Friedman, Law’s Order: What Economics Has to Do with Law and Why It Matters (https://press.princeton.edu/books/paperback/9780691090092/laws-order; also available as an e-book).