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Bilkent University

Online Academic Catalog

Undergraduate and Graduate Programs 2020-2021


LAW 501 Economic Analysis of Law

Concepts of "risk aversion" and "diminishing marginal utility income", economic analysis of contract law - economic function of law of contracts, economic analysis of tort law, cost and benefit analysis, external effects, rational choice theory in law and economics, concept of "risk allocation", damage compensation rule, concept of "economic efficiency", property rule versus liability rule, concept of "optimal level of care", negligence, strict liability, judgment proof problem. Credit units: 3 ECTS Credit units: 5.

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