This course develops some basic economic concepts in the context of specific legal issues. In some areas of law it is now impossible to practice without at least a modicum of economic sophistication. This is especially true of antitrust, corporate law, and the law of public utilities (telecoms and electricity). Economics has become increasingly important in other areas as well. It provides a coherent framework for the analysis of doctrine. In addition, it provides methods for testing the implications of legal rules or governmental policies. The primary focus of the course will be on economic analysis in the common law core subjects of contracts, torts, and property. The course begins with some essential building blocks, starting with the basics of supply and demand and how a price system works.