SyllabusDr. Steve Sullivan

ECO 401: Economics of the LawOffice: Room 252

Spring 2003 SemesterTel: 88-420

Textbook:

Robert Cooter and Thomas Ulen, "Law and Economics", Addison Wesley Longman (2000).

Course Description:

This course will examine the interrelationship between legal institutions and legal processes on one hand and economic outcomes on the other. The economic effects of common law, property law, contract law, criminal law, and the economic affects of legal processes will be studied.

Prerequisites:

ECO 301 or equivalent is required. Otherwise the permission of the instructor--which is not likely--will be required.

A normal ability to perform algebraic manipulation is assumed. An ability to understand and apply graphical analysis to economic problems is assumed. An ability to recall and apply the terms, concepts, and techniques of intermediate micro will be required.

Course Outline:

Part I: Introduction to Economics of the Law

Cooter and Ulen (CU) chapters 1, 2, 3

Part II: Economics of Property LawCU chapters 4 5

Part III:Economics of Contract LawCU chapters 6, 7

Part IV:Economics of Tort Law and LiabilityCU chapters 8, 9

Part V: Economics of Crime and PunishmentCU chapters 11, 12

Part VI:Economics of the Legal ProcessCU chapter 10

Exam Dates:

Midterm 1: Wednesday, February 19

Midterm 2: Monday, March 31

Final Exam: According to AUBG

final exam schedule.

Course Project:

In addition to conventional exams, students will be required to prepare a written report and in-class presentation regarding some specific legal issue, or economic issue directly pertaining to the law or legal process. I encourage students to form teams consisting of two or three people to carry out the projects. Each team needs to submit one written report detailing the issue or case, the economic issue raised, and arguments for and against the government or court decision (if applicable). The in-class presentation must involve the participation of all team members, with the subject material divided among the presenters in some reasonably sensible way. The time allowed for the in-class presentation should be approximately 30 minutes, enough to describe the basic facts and issues of the case to an audience (presumably) familiar with economic theory and the basic issues in the economics of the law.

Grade Determination:

Students’ grades will be determined by the following guidelines:

Midterm 1 25%

Midterm 225%

Final Exam25%

Project:

In-class presentation10%

Written report15% ______

100%

Attendance Policy:

Presumably all students are enrolled in this course by choice, rather than coercion. It is not my intention to take attendance or monitor attendance, but I expect all students to attend regularly. I reserve the right to drop from the course any student who does not attend on a regular basis. Students who miss class for any reason bear the full responsibility for finding out what material may have been missed. In accordance with AUBG policy, students who do not attend during the first week of classes will be dropped from the class register if there are students on the waiting list.

Academic Honesty:

I view any act of academic dishonesty very seriously -- an offense both to myself and to your fellow students. Any act of cheating (including being a willing provider of answers for another student's exam) disqualifies the student(s) from continuing in the course and earns the offending student(s) grades of "X".

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