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Bulletins

Law and Economics Major, B.A., B.S.

Interdepartmental - B.A. or B.S. degrees
Major Map for B.A.
Major Map for B.S.

The Law and Economics major combines the elements of both disciplines - the analytical and decision-making framework provided by economic theory as well as the reasoning and argumentation skills of business law. The modern manager faces legal implications of decision-making in daily operations and in formulating business strategy. Business law courses provide the student with insight into legal institutions, the nature of legal language, the regulatory environment and the legal principles pertaining to property rights, contracts, business organization and commercial relationships. The economic content features the use of problem-solving techniques to develop analytical decision-making skills. Students will gain an appreciation of the preservation of individual rights and methods to evaluate the efficiency of the legal system.

The major is intended for students preparing for a career in the legal profession or those seeking a legal emphasis within their business or liberal arts studies. A student planning to attend law school will receive valuable information on the use of economics in legal applications. A working knowledge of these basic issues also benefits others, e.g. expert witnesses routinely use economic concepts in testimonies.

Contact either the Finance and Law Department or the Economics Department for the names of advisors.

Admission Requirements, Retention & Termination Standards

  1. Up to 6 hours may be taken as Credit/No Credit and counted towards the major.
  2. Students are strongly advised to select elective courses in consultation with an Economics or Finance & Law Department advisor.
  3. No more than a total of 27 hours of credit earned in business courses, including business transfer hours, may be counted towards graduation unless the student is majoring in the College of Business Administration.

Program Requirements

Required Courses (18 hours)

BLR 202Legal Environment of Business

3(3-0)

BLR 302Law of Agreements

3(3-0)

BLR 350/ECO 350Law and Economics

3(3-0)

ECO 201Principles of Macroeconomics

3(3-0)

ECO 202Principles of Microeconomics

3(3-0)

ECO 365Intermediate Microeconomic Theory

3(3-0)

Electives (15 hours)

Note: BLR 410 may be given credit as a 300-level or above Economics elective, or as a 300-level or above BLR elective, but not both.

Electives I (9 hours)

9 hours of electives in Economics at the 300-level or above; 6 hours of which must be from the following courses:

BLR 410Regulatory Law

3(3-0)

ECO 301Environmental Economics

3(3-0)

ECO 315Economics of Immigration

3(3-0)

ECO 360Public Economics

3(3-0)

ECO 410Government and Business

3(3-0)

ECO 425The Economics of Industrial Organization

3(3-0)

ECO 515Collective Bargaining and Labor Law

3(3-0)

Electives II (6 hours)

6 hours of electives from any BLR course 300-level or above, excluding BLR 365.

Total: 33 semester hours