Economics of Crime

Crime is one of the most important domestic policy issues for any country, and interest in public safety has only grown stronger in recent years. This course will introduce you to an economic model of crime - exploring policies on crime and motivations for committing crimes all within the context of economics. Understand the rational choice framework and the choices behind committing crimes On this course you’ll learn about the key determinants of criminal choice such as motivation, deterrence, and punishment. Under the rational choice framework potential criminals are more likely to participate in illegitimate activities when the expected gains are greater and the expected losses smaller. You’ll see how this framework can be applied in various topics in crime research, and discuss their strengths and weaknesses. Learn about criminal policy We’ll also be examining the policing and punishment strategies related to crime, including learning about recent examples of policy interventions designed to reduce crime. Explore the impact of economics on crime Throughout the course we will examine the economics of crime - from looking at the effects of adverse economic conditions and labor markets to discussing the research contributions made by economists in the past several decades. In doing this we hope to develop a better understanding of crime and search for ways to lower criminal risks in our society.