ECON 442 Law and Economics Prof S. Mialon ECON 442 Law and Economics Course Syllabus Spring 2017
REQUIRED TEXT: Law and Economics By Robert Cooter and Thomas Ulen. A free copy of the book is available on-line for downloads: http://scholarship.law.berkeley.edu/books/2/ SUPPLEMENTARY TEXT: Law’s Order By David Friedman. A free copy of the book is available on the author’s webpage: http://www.daviddfriedman.com/laws_order/index.shtml PREREQUISITES : ECON 201 (Intermediate Microeconomics) + MY OFFICE: Rich Memorial Bldg #333 COURSE WEB PAGE: Blackboard MY OFFICE HOURS : Tuesdays 9:30AM-11:30AM and Wednesdays 10:15-11:15AM E-MAIL: [email protected]
Course Description and Objectives
This course introduces the basic concepts of law and economics. Economics is an important tool to understand the effect of legal rules on people's behavior. We will focus on the areas of tort, property and contract, and crime and punishment in applying economics to the analysis of law. Specific topics to analyze are including the economic function of contracts; remedies for breach of contract; marriage and divorce, how to correct market failure from externalities with legal actions; the economic motive to commit crimes; death penalty, gun controls, privacy, negligence versus strict liability; property rules. We will also explore the way economics can be used to understand the workings of the legal system itself.
By the end of this semester, students will be able to (i) demonstrate their knowledge and understanding of the legislative and judicial decisions presented in class, (ii) identify key economic aspects of the decisions, (iii) critically analyze the impact on people’s conduct and social welfare.
The course will assume that students are equipped with intermediate level of microeconomic theory regarding consumer/producer optimization problem, expected utility, game theory, equilibrium, market failure and externalities.
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Exams, Case Analysis, and Grades
1. EXAMS
(1) There will be two exams on Feb 22 (W) and Apr 28 (F). The second exam is on the day of your final exam. It is scheduled on Friday, April 28 at 3:00 PM. The two exams account for 70% of your course grade. Of the two exams, the best score will account for 40%, and the other score will account for 35%. These exams are NOT cumulative. (2) All tests are based on my lecture materials. (3) Make-up exams are NOT offered in any cases. (4) A student arriving late to an exam session will not be allowed to take the exam if other examinees have left before the student arrives.
2. CASE LAW ANALYSIS
See provided instructions for Case Analysis.
3. GRADES
Course grades will be determined on the basis of your relative performance in the class. Your course work requires
Two exams (75%) A Case Law Analysis (20%) Class Participation (5%) Total 100%
Course Website and Contact Information
The course website is Blackboard. You will be able to download word or PDF version of course materials (including syllabus, class ppt slides, articles, etc.) from Blackboard. In most cases, talking in person is the best way to get the explanations you need. Alternatively, I can be reached via email at [email protected].
I will frequently use “course email” on Blackboard to communicate with you outside the class. Often, I will need to make important announcements on blackboard and e-mail the announcements using the course email. Please check your email regularly, every day between Sunday and Thursday.
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TENTATIVE COURSE SCHEDULE
By Topic Chapters in NOTE Cooter and Ulen 1/11 (W) Introduction. Economic Analysis of 1/10: Class begins Law 1/18 (W) Law and Legal Institutions 3 1/17 Schedule change ends
1/25 (W) Theory of Property Rights 4
2/1 (W) Eminent Domain, Intellectual 5 Property, Patent 2/8 (W) Tort Liability 6
2/15 (W) Products Liability, Medical 7 Malpractice, Punitive Damages, Tort Reform 2/22 (W) CH 3-7 1st Exam 3/1 (W) Strict Liability v Negligence 7 3/6-3/10 Spring Break 3/15 (W) Contract Law and Bargaining 8, 9
3/22 (W) Marriage, Divorce, Adultery Friedman, 3/22 (W) Due date for Case Ch13. Analysis Proposal pp.171-188 3/29 (W) Crime and Punishment 12
4/5 (W) Deterrence, Death Penalty 13
4/12 (W) Gun control 13
4/19 (W) Legal process, Trial v. Settlement, 10,11 Burden of Proof 4/24 (M) Social Norms v Law 4/24 (M) Last class day Due date for the Submission of Term Paper 4/28 (F) CH 7-13 2nd Exam
* This schedule is tentative.
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