The economics of crime

Isn’t economics about money, trade, and forecasting the economy?  Yes; however, it also provides us with a set of tools that enable us to think about a wide range of topics.  Nils Braakmann, Professor of Economics at Newcastle University, challenged Year 13 PTE students to consider the economics of crime.  Considering the pioneering work of Gary Becker, Nils explained how economic modelling can be used to forecast the likelihood of becoming a criminal and how public policy can then be shaped to deter criminal activity.