|
Economic Analysis of Law (a) Syllabus David B. Mustard |
| SACS Requirement Statement |
| This syllabus is organized to fulfill the requirements imposed by the Southern Association of Colleges and Schools (SACS) "Course Syllabus Policy." Letters in parentheses indicate the provision of the policy that is met. |
| Course Description (b) |
| An efficiency-based perspective on major areas of the law, including contract,
tort, and nuisance law, which points to the reduction of transactions costs as
unifying legal principle. 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. "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. However, even if you have no interest in going to law school, this course will still be very beneficial. Every business, non-profit agency, and household increasingly must be familiar with legal issues. |
| Prerequisites (c) |
| ECON 4010. You should know the material in Chapter 2 "Tools for the Economic Analysis of Law" of the textbook, which reviews some of the important material covered in ECON 4010. |
| Course Objectives and Learning Outcomes (d) |
| Students are expected to attend class, complete the assigned readings and discuss the readings articulately in class. Stud. |
| 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. |
| In-Class Expectations/ Attendance Policy (k) |
| Attendance will be taken each day. All students are expected to come to class ready to discuss the day’s reading. Participation is an essential component of the course and will account for 15% of the total course grade. Because unexpected situations occur, everyone will have two opportunities during the term of taking a free day, on which you will not be called on to discuss the assigned reading. Let me know before class if you would like to use a free day. However, you should still come to class on those days. |
| Required Reading (l) |
|
The textbook is Law and Economics (New York,
NY: W.W. Norton & Company, 2008) by Jeffrey L. Harrison and Jules Theeuwes. 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. |
| Principal Course Assignments (h) Examinations and Grading (i, j) |
|
For undergraduates (4450) the course grade will be based on one
paper (10%), three midterms (45%), a comprehensive final (30%) 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%), three 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 (m). 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.
Wed. Oct. 14, 2009 Mon. Nov. 16, 2009
The first day of classes
is Mon. Aug. 17, 2009. No extra credit will be given for the course. |
| University of Georgia Honor Code (f) |
| As a University of Georgia Student, you have agreed to abide by the University's academic honesty policy, "A Culture of Honesty" and the Student Honor Code. All academic work must meet the standards described in "A Culture of Honesty". Lack of knowledge of the academic honesty policy is not a reasonable explanation for a violation. Questions related to the course assignments and the academic honesty policy should be directed to the instructor.I strongly urge you to become familiar with the section on 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. |
| Course Topical Outline (e) |
| A more
detailed outline will be updated during the semester. The course syllabus is a
general plan for the course; deviations announced to the class by the instructor
may be necessary (g).
1. Introduction to Law and Economics
|