|
Law and Economics Syllabus David B. Mustard |
| Purpose |
| Law and economics is one of
the fastest-growing areas of applied microeconomics. It uses the standard
microeconomic tools and concepts of scarcity, choice, preferences, incentives,
supply and demand to explain legal and political rules, social conventions
and norms, firms and contracts, government organizations, and other institutions.
Our perspective will be that of the economist, trying to understand these
institutions by reference to purposeful human choice.
Law schools are devoting increasing attention to understanding the economic analysis of law. Therefore, this course provides solid preparation for students who are interested in going to law school. This course assumes a strong working background in microeconomics. (ECN 4010 is a prerequisite). If it's been a while since you had intermediate micro, you may have to put in some extra time reviewing the material as we discuss it during the course. "For the rational study of law the blackletter man may be the man of the present, but the man of the future is the man of statistics and the master of economics." Oliver Wendell Holmes. 1897. "The Path of Law", Harvard Law Review, Vol. 10. |
| Web Site |
| You are responsible for checking the class web site regularly. All announcements and changes will be posted there. If you have administrative questions, please check the web site first. Your second source of information on administrative matters is classmates. You should contact me only after you have pursued these first two options. |
| Required Reading |
|
The textbook is David Friedman, Law's
Order: What Economics Has to Do with Law and Why it Matters (Princeton,
NJ: Princeton University Press, 2000). It will be available in all the
usual places.
Articles from various sources are linked directly on the outline of notes. Later in the semester I may assign a course reader. If I choose to use it will let you know when and where the course packet is available. |
| Examinations and Grading |
|
For undergraduates (4450) the course grade will be based on one
paper (10%), two midterms (40%), a comprehensive final (35%) and class
participation (15%). The class participation grade will be a function of
quality and frequency of participation.
For graduates (MBA, MAcc, MPA) (6450) the course grade will be based on one short paper (10%), one long paper (20%), two midterms (30%), a comprehensive final (30%) and class participation (10%). The class participation grade will be a function of quality and frequency of participation. Exams will be based on both the class notes and required reading. There will be no make-up midterm exams. 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. This policy obviously allows students to skip all the midterms, and place 75% of their course grade on the final. However, students who pursue this strategy overwhelmingly do poorly. Failure to take the final exam at the scheduled time will result in a grade of zero. Therefore, if you know that you will not be able to take the final at the assigned time, you should not take this course. Two exceptions to this rule are:
www.curriculumsystems.uga.edu In this case please let me know one week prior to the last day of classes. (2) if the Office of the Vice-President for Student Affairs (110 Old College) verifies that you have a family emergency or personal illness. If this occurs please let me know before the exam or as soon as possible after the exam.
Tuesday 25 March 2008
The first day of classes is Tue. January 8, 2008. No extra credit will be given for the course. Academic
Honesty: UGA's Academic
Honesty Policy will be strictly enforced in this course. I strongly
urge you to become particularly familiar with Section 5 that discusses
prohibited conduct. |
| Papers |
| The paper assignments
will differ for undergraduates and graduates.
All papers must be handed in at the beginning of class. Papers not handed in at the beginning of class will be assessed late penalties. For each 24-hour period after the paper is due, there will be a penalty of 10% reduced from the grade. Directions for the papers are on the papers page. |
| Trial, Jury Service and class off |
| The paper involves
participating as a juror in a mock trial through UGA Law School's
evidence class. The trial is tentatively scheduled for: Wed. 9 April 2008: Trial Day 1(10:30-11:20 am.) Thurs. 10 April 2008: Trial Day 2 (10:30-11:20 am.) It is likely that the trial will have a jury selection process, which most likely will occur on Tue. 8 April 2008 in our own class. Because this is a demand outside of the normal class period, I will cancel a class or two during the semester. We will NOT have class on Thursday Jan. 24. If you are unable to serve as a juror at either of these times an alternative assignment will be made. |
| Course Outline |
| A general outline is presented
here. A more
detailed outline is posted in the class notes.
1. Introduction to Law and Economics
|