LAW305 - Economic Analysis of Law (Offered in 2016 - 17, Term 1)

This course examines the role of economic principles in analyzing the law. It seeks to provide students with an understanding of the law based on microeconomic analysis. Under the economic approach to law, laws are viewed as providing incentives for changing human behavior and as instruments for achieving policy objectives. This course also explores the implications of economic principles for what the law should be. The economic approach to law places emphasis on the criterion of efficiency, particularly in analysing private law (property, contract and tort law). The course also addresses criticisms of the economic approach to law, in particular, the redistributive approach to private law.

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