Date of Submittal:
Approved by School of MGMT:
Reviewed by CEP:
Approved by Univ. Senate:

03/13/05
03/11/05

Document No:
Proposed Effective Date:
Contact Person:
Form 40 Needed:

MGMT-CC-05-02
Fall, 2006
J. Furdek
Yes

Subject:

Establishing a prerequisite of ECON 467 Economics and the Law and improving the grammar of the course description.

Justification:

The rigor and coverage of this course requires a foundation in microeconomics which becomes the prerequisite.

Key Features:

Students in the B.S. Management curricula had completed a sequence of business principles courses prior to taking upper level ECON or MGMT courses. Students in other curricula seek to take this course making the pre-requisite a necessity. The grammar has been revised to clarify the course description.

Current:

ECON 467 ECONOMICS AND THE LAW
(Class 3, Cr. 3, Lab 0)

This course analyzes the conditions under which laws promote or hinder the efficient use of resources in a society. The course reviews the relevant microeconomic theory underlying social decision making. It next develops the basis for property rights analysis and contract law. Discussion also focuses on risk allocation and liability issues associated with tort law.

Proposed:

ECON 467 ECONOMICS AND THE LAW
(Class 3, Cr. 3, Lab 0)
Prerequisite: ECON 251

This course is a study of the economic consequences of laws. The focus is on the impact of laws on the efficient use of resources in a society. The relevant microeconomic theory underlying social decision making will be examined. The economic foundations of property rights and contract law will be examined, including issues of risk allocation and liability associated with tort law.

Impact on Students:

Stating the implied pre-requisite provides better information to students.

Impact on Other Academic Units:

None

Summary of Discussions with
Other Academic Units:

None

Impact on University Resources:

None.

Impact on General Education Requirements:

None.