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This course explores the role of law in promoting economic welfare. Law has many meanings and many aspects, but some version of it is essential to cooperative human interaction and thus to civilization itself. Cooperation often is a positive-sum or welfare-enhancing activity, while competition among individuals, in contrast, is often zero- or negative-sum. Law, among its other functions, can serve as a mechanism to harmonize private incentives to achieve cooperative gains, to maintain an equitable division of those gains, and to deter "cheating." Economic analysis of law focuses on the welfare-enhancing incentive effects of law and law enforcement and on law's role in reducing the risks of cooperation by setting expectations of "what courts or the state will do" in various contingencies. Prerequisite: Econ 50.