About this course: Think about the oldest and most familiar principles of American law, property and proportional liability, in a new and surprising way, and learn to apply economic reasoning to an especially important and interesting aspect of life.
Created by: Wesleyan University
Taught by: Richard Adelstein, Professor
Department of Economics
| Commitment | 16 hours of videos and assessments |
| Language | English |
| How To Pass | Pass all graded assignments to complete the course. |
| User Ratings |
Syllabus
WEEK 1
Property
Property is where law and economics meet, but it's not a simple concept. Property is not an object or a relation between people and objects, but a set of rights, relations among people over who is to control each of the many uses to which objects can be put. D...
5 videos, 2 readings
Graded: Property
WEEK 2
Exchange and Efficiency
Voluntary exchange implies mutual benefit – when people trade property rights, it's because they each believe that what they get from the trade will be more valuable to them than what they have to give up to get it. So if there are no obstacles to voluntary ex...
5 videos, 1 reading
Graded: Exchange and Efficiency
WEEK 3
Externality
Exchange involves both benefit and cost – traders take rights from others, imposing costs on them but creating benefit for themselves, but they must compensate the others for their costs by paying for the rights they've taken. External costs are imposed when o...
6 videos, 1 reading
Graded: Externality
WEEK 4
Crime and Punishment
Some externalities involve only a few uncompensated losers of rights whose costs are easily reckoned in monetary terms, so that forcing the taker to pay exactly these costs to the victims ensures both that victims will be fairly compensated and that takers wil...
8 videos, 1 reading
Graded: Crime and Punishment
WEEK 5
Property, Utility and Technology
The concept of property is developed in two new directions. One concerns the problem of eminent domain and evokes the ancient conflict between individual rights and collective needs – in what circumstances, and to what extent, should private property be protec...
8 videos, 1 reading
Graded: Property, Utility and Technology
WEEK 6
Criminal Procedure
Criminal liability means that crimes have prices, and how these prices are exacted in practice from people who take rights without compensation is the problem of criminal procedure. How do judges know who is guilty, and what prices guilty people should be made...
7 videos, 1 reading
Graded: Criminal Procedure
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Wesleyan University
At Wesleyan, distinguished scholar-teachers work closely with students, taking advantage of fluidity among disciplines to explore the world with a variety of tools. The university seeks to build a diverse, energetic community of students, faculty, and staff who think critically and creatively and who value independence of mind and generosity of spirit.
Ratings and Reviews
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A delightful course. Professor Richard Adelstein's lectures are simply amazing. His way of conveying information are so enticing so that it makes easier to understand the subject. I'm really very pleased an grateful for such an wonderful opportunity to take part in this wonderful course.
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The class, is very insightful. Thus far, it's full of deeper insight, than I'd experienced, from my other colleges.