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Last Updated on Monday October 19. This is the final update. I apologize for not getting the final update to you--after Sat. I had trouble accessing my web editor from home. 

Midterm Grading Policy
    If you do not take a midterm, the weight of that midterm will be applied to your final exam. Your decision must be made before the midterm begins. You cannot take the midterm or part of the midterm and later choose to drop it. If you do not want the test to count, DO NOT COME to the classroom. Once the test is handed out, it will count.

Content: The test will cover readings and lectures from Fri. Sep. 18 through Friday Oct. 16. See the course outline for details. I try to emphasize on exams the things I emphasize in the lectures and readings.

    The questions that will be primarily drawn from the following broad topics:
    5. Coase Theorem--1 question about 12 points
    6. Regulation--1 question about 12 points.
    7. Intellectual Property--1 question for about 18 points; 1 question for about 10 points

Length
    The test will have about 4 questions for 52 points. The number of points will be listed next to each questions. You will have 50 minutes to complete the exam.

Suggestions
    1) Print out web outline and go through the topics systematically. This will also help you target your reading.
    2) Think before you write. It is to your benefit to outline the answer before writing it out in detail.
    3) Be clear and organized--reduce the transactions costs of grading.
    4) Answer the question that is asked.
    5) If there are subsections to a question, arrange your answers by subsection.

During exam
    You can write directly on the question sheet and will not need additional paper.
    You may bring a calculator.

Types of questions I could ask
    1) T, F, U & Explain: I make an assertion and you must indicate whether it is true, false or uncertain and explain why. Most of the points are given for your explanation, not your answer about whether it is true or false.
    2) Legal Problems with Economic Analysis.
    3) Economic Problems with legal applications.
    4) Questions from readings - you should be able to provide a coherent overview of the main arguments from the readings.
    5) Extensions of ideas and principles we discussed in class.

Grades
    Grades will be posted as soon as they are done. The postings will include your score and summary stats for the exam.