Prerequisite: The Economics Institute was carefully designed for those who possess little or no previous formal economics education. It covered basic price theory, with emphasis on the allocative effects of alternative property rights regimes, transaction cost economics, and the application of basic economic theory to a variety of legal issues. As such, there was no prerequisite for this Institute.
Program Description: The goal of the Economics Institute for Law Professors was to help participants enhance their understanding of economics and broaden their analytical tools in order to introduce greater economic sophistication and policy relevance to their professional work. More than 670 law professors worldwide have attended the LEC’s Economics Institutes. Alumni routinely credit the Institute with providing creative insights into research and teaching, and with facilitating collegial associations. Enrollment is limited to 30 professors.