Teaching Contracts from A Socioeconomic Perspective

This essay begins with a brief discussion of what socioeconomics is. In this section I also address whether one must be well versed in conventional economics in order to apply a socioeconomic perspective. I then discuss the basic themes that are present throughout my contracts class that stem from my interest in socioeconomics. Underlying these themes is the more fundamental goal of devising methodologies for assessing the quality of contracts. By quality, I mean something more and perhaps more subtle than whether the parties have conformed to all the formal requirements. Instead, I encourage students to examine whether all of the many factors leading to the formation of a contract are ones to be supported. Finally, I identify some specific materials that lend themselves to a socioeconomic perspective that are not always included in the casebook