Catalogue 2014 - 2015

EC 105 The Economics of Crime

Credits

3 cr.

Course Description

This course does not satisfy the economics requirement in the Colleges of Business and Engineering. This is an examination at the very basic introductory level of the market relationship between the amount of crime and the money spent on crime prevention and protection. A basic issue discussed in the course is that given limited resources and an obvious recognition that crime imposes an economic cost, society must make choices involving the trade-off between the economic costs of crime and the costs of purchasing more crime protection. The opportunity cost principle is used to illuminate this and other issues including the impact of criminal activity on the Gross Domestic Product and the impact of changing the legal status of certain goods and services.