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 perseveration 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 to 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.
Mission / Purpose
The mission of the Law and Economics major is to provide students with the analytical and decision-making framework provided by economic theory, the reasoning and argumentation skills of business law, and a broad overview of law and legal institutions.
To view the most accurate requirements of the degree you wish to pursue, please go to https://bulletins.cmich.edu and select the year of the bulletin that applies to you, and "on campus" (unless you are taking distance learning classes, in which case you would select "off campus"). Then simply select the department and specific major and minor you are pursuing.
For additional information, or for a personal walkthrough of major and minor requirements and please contact:
Business Student Services
150 E Bellows
1st Floor, Room 105