Law and Economics Emphasis
The purpose of the law and economics emphasis is to provide students with a well-rounded education at the intersection of economics and the law in order to prepare the students for law school. The emphasis provides students with tools of economic analysis that allow them to predict the effects of particular legal rules, to explain why particular legal rules exist, and to analyze whether particular legal rules should exist. In addition, the emphasis provides students with the economic tools and institutional knowledge to examine various aspects of the legal system, torts, contracts, property rights, the economics of litigation, antitrust law, and regulation.
Why Major in Economics in Preparation for Law School?
- At the core of the study of market-based economies is the role of private property and private property rights. This creates a natural synergy between the study of markets and the law. Many areas of law require some working knowledge of economics. At the same time, economic analysis can be used to better understand the law. One can examine the economic foundations of property law, torts, criminal law, contracts, and anti-trust.
- Research shows that economics students tend to have higher LSAT scores, on average, than other majors. Lawyers who were undergraduate economics majors also tend to earn higher incomes.
Students must complete the following 6 credit hours:
- Econ 312 Law and Economics
- Econ 307 Applied Price Theory
Students must also complete 9 credit hours from the following list of courses:
- Econ 324 Experimental Economics
- Econ 401 Government and Business
- Econ 404 Industrial Organization
- Econ 410 Financial Economics
- Econ 427 Labor Economics
- Econ 505 Public Finance