Skip to 0 minutes and 14 seconds What makes a person criminal and what can be done to lower crime? Does having more police lower the crime? Should we build more prison and put more criminals behind bars? Will thieves not steal if they have better job opportunities? I’m a Professor Songman Kang, in the College of Economics and Finance at Hanyang University in Seoul, Korea. Economics of Crime addresses these questions by applying economic theory and econometric techniques. In this course we will learn about the contributions made by economists on crime research. Are criminals rational? Do they respond to incentives like a consumer responding to changes in prices? What are the costs of crime and what can be done to lower crime in a cost-effective manner?
Skip to 1 minute and 4 seconds along the way you will be introduced to a number of examples of empirical studies done by economists. economists are very much interested in recovering a causal relationship. a task which usually requires a clever empirical design and high quality of data. We will see how the availability of Big Data in recent years allowed us to perform many interesting investigations.
Skip to 1 minute and 31 seconds So, please join us for this course on Economics of Crime where we use economics to think about and find a solution to these important questions.