+++++++++++++++++++++++++++++++++++++++++++++++++++
Ask two questions:
1. What did I miss?
2. Why
did I miss the question?
The summary statistics for Midterm 1 (Spring 2013) are:
Points %
Min. 23 34.3
Median 56.5 84.3
Ave. 57.5 85.8
Max. 67 100
Number 40 40
Grades are calculated out of 68 points as the basis.
Grade # Score % Score
A+
68+
>100.0 %
6 (3 perfect scores)
A
63-67
92.6-98.5 % 9
A-
60-62
87.8-89.8 % 2
B+
58-59 85.2-86.8
% 1
B
55-57
80.9-83.8 % 5
B-
54
79.4 %
3
C+
53 77.9 %
1
C
48-52
70.6-76.5 % 5
C-
47
69.1 %
1
D
41-45 60.3-66.2 % 4
F 30-34
44.1-50.0
3
Short Answer
1. Property/Coase Theorem (2/12 and 2/14; example out of Chap. 5 pages 85-86 of the text, but with different names and values)
a. Efficient = filters are installed on homes
(because it is the lowest cost solution: $500,000 vs. $700,000 and
&800,000). Efficiency is not affected by PR or TC.
b. 1. Farm has PR: Homes install filters
b. 2. Homes have PR: Farm installs building
c. 1. Farm has PR: Homes install filters
c. 2. Homes have PR: Farm buys PR from homes for $500,000=$700,000 and homes install filters
d. Clear statement and explanation of Coase Theorem.
Notes: what does efficient mean? Answer the question that is asked
(especially 1d, which asked about property rights assignment and some
gave answers that discussed all sorts of things but property rights
assignment)
Range: 7-15 (many 15s)
2. Medical malpractice case (Notes: 1/24 and 1/29)
Notes: 19 of 25 scored 8 of 8.
Range: 4-10 (many 10s and 9s). Second easiest question on test.
3. Common Law vs. Civil Law (Notes 1/10 and Table 1 and Friedman reading--"Intermezzo")
Notes: what does efficient mean?
Range: 6-10 (many 10s and 9s). Easiest question on test.
4. Copyright Infringement (Notes 2/14 and 2/19)
plaintiff must show all elements and no AD: own, infringe (direct--scope and nature), harm
Note: define terms--do not use the same term in the definition (infringe)
In answering, use evidence from the case
5. Property
a. Injunctions (Property Rule) vs. Damages (Liability Rule); ex ante vs. ex post (Notes 2/5)
b. T costs; Calebresi-Melamed (Notes 2/5)
c. Private vs. Public: good examples from reading (Greece, Native Americans) (Notes 1/25)
Summary:
1. Answer the question that is asked--especially 1 d.
2. Use legal terms (injunction, compensatory and
punitive damages, own, infringe, and harm, etc.)
3. Be internally consistent (especially #1)
+++++++++++++++++++++++++++++++++++++++++++++++++++
The summary statistics for Midterm 2 (Spring 2013) are:
Points %
Min. 39 45.7
Median 57.4 72.8
Ave. 57.5 73.0
Max. 67 100
Number 40 40
Grade # Score % Score
A+ 66-67 99-100%
A 62-65 93-97 %
A- 60-61 89-91 %
B+ 58-59 86-88 %
B 82-85 82-85 %
B- 53-54 79-81 %
C+ 52 77 %
C 50-51 74-76 %
D
39-40 58-60 %
F 23 34 %
Many students improved their scores
significantly. 11 students improved their scores by more than 10
percentage points, including six students over 20 percentage points and
two students over 25 percentage points. Many of these students came by
and worked with me between the two midterms.
Short Answer
1. Regulation (Baptists v. Bootleggers--enact
prohibitions to limit gambling just like the original B v. B enacted
prohibitions to limit alchohol)
a. Baptists: limit gambling for moral reasons. (2 people)
Bootleggers: limit gambling for support the regulation for economic reasons. (3 people)
The combination of these two groups is sufficient
for a majority (5) on the 9 person committee. People or groups that
have different objectives support a policy.
b. Recommend: 1) limiting gambling to what is there now; 2) Raise
barriers to entry; 3) Different support for different types of
gambling--support for large tourism based casinos, but criticize other
forms of gambling. 4) Restricting gambling by geographic area.
Dates: 3/21-3/26.
Notes: This pattern of regulations should sound familiar--we have done
many cases like this starting about the second week of classes.
Do not be vague. Some said this is like Baptists and
Bootleggers, but never identified either the Baptists or Bootleggers.
2. Harold
a. Wrongful death tort.
b. Elements: List and Define.
c. Plaintiff: must show all 3 elements. Proper equipment; proper monitoring and forecasting.
d. Defense: fight at least one element (negligence
and cause). Lack of lifeboat made no difference in the outcome.
e. Decision: full credit was given for various answers as long as they were argued well.
f. Contributory and Comparative--See table 7
g. Be consistent with the rest of one's answer
Dates: 4/2-4/9
Notes: 1) About 6 people do not know what a cause of action is and how it differs from an element.
2) Don't just say the defense is negligent. How
is the defense negligent? What could they have done to avoid the
accident? (Not go out on the water, have a life boat, train crew, etc.)
3) Answer the question: define the elements--many listed, restated, but did not define. Repeating the word is not defining.
4) Argue on
the basis of elements. Some people listed and defined elements and then
argued other things.
3. Trademarks
a. Descriptive--must have secondary meaning
b. Arbitrary
c. Fanciful
d. Suggestive (Arbitrary)
Dates: 3/5-3/7
Notes: IP vs. TM
4. IP
a. TMs decrease search costs.
b. Decreasing search costs increases search, decreases
ave. price and the variance of prices, and increase quality of products.
Also, search costs reduce barriers to entry, increase competition, etc.
Dates:
Notes:
1) Not asking how IP law affects
all the other factors--just how search costs affect the other factors.
2) TM vs. other forms of IP. About 5 people explored other forms of IP.
Multiple Choice
1. IP (Dates 2/14-3/21)
2. Regulations (Dates 3/21-3/26)
Total MC
8 points 23
4 points 13
0 points 4
Total 40 students
Summary
Ask two questions:
1. What did I miss?
2. Why
did I miss the question?
Answer the questions that are asked. Conversely, don't answer questions
that are not asked--or at least wait until you have answered the ones
you are supposed to. Examples: define elements (#2), innovation (#3),
not other concepts.