Intro to Law and Economics (Abrams)
Faculty
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| David S. Abrams Professor of Law, Business Economics, and Public Policy dabrams@law.upenn.edu |
Additional Information
Skills Training
Oral Presentations
Team Projects
Grading
15% Participation,
70% Exam,
15% Other (In-class exercises and short assignments will be 15% of the grade.)
Exam
Multiple Choice,
In Class,
Open-Book
No
Class meets in person.
Course Continuity
Students are encouraged to stay home if you are ill or experience flu-like symptoms. If you miss a class for any reason, it is still your responsibility to make up the work missed.
I offer the following to students who miss class due to illness:
- Class sessions are regularly recorded. If you are absent due to illness or some other unavoidable circumstance, email me and I can send you an email with instructions for accessing the recording for the class session(s) you missed.
Meeting Times/Location
MW 3:00PM - 4:20PM
Silverman Hall 240A
Category
First-Year
Credits
3.0
In recent years, economics has become an increasingly important tool for those who want to understand the effect legal rules have on the way people behave. In the class, we will explore the extent to which the principles of economics can be used to explain the workings of the legal system itself. This course introduces the concepts of law and economics with an emphasis on practical examples and results from empirical studies. It also introduces skills from economics that are useful for all lawyers, regardless of specialty. We will touch on important advances in data science, AI and machine learning that are making big impacts today.
Topics covered include the Coase Theorem, rules vs. standards, arbitrage, the shadow of the law, dead-hand control and many others. Numerous legal examples will be discussed ranging from stop-and-frisk policing to optimal patent duration and many in between.
No prior acquaintance with economics is assumed; the relevant economic concepts are developed through an examination of particular legal applications. This is a 1L elective course and 1Ls will receive priority in enrollment, but all law students as well as students from other schools with an interest in law and economics are encouraged to enroll.
Business and Corporate Law Learning outcomes: Demonstrate a core understanding of business and corporate law; Perform legal analysis in the context of business and corporate law; Communicate effectively on topics related to business and corporate law; Demonstrate an understanding of the interconnection between the world of business and finance and that of business and corporate law, and how they affect other areas of law and society.
Criminal Law and Procedure Learning outcomes: Demonstrate a core understanding of criminal law and procedure; Perform legal analysis in the context of criminal law and procedure; Communicate effectively on topics related to criminal law and procedure; Demonstrate an understanding of the role criminal law and procedure play in society and their impact on other areas of law and society.
Intellectual Property and Technology Law Learning outcomes: Demonstrate a core understanding of intellectual property law; Perform legal analysis in the context of intellectual property law; Communicate effectively on topics related to intellectual property; Demonstrate an understanding of the interconnection between technology and intellectual property, and how they affect other areas of law and society.
Perspectives on the Law Learning outcomes: Demonstrate an understanding of how the law affects, and is affected by, the individual course topic; Perform legal analysis in the context of the individual course topic; Communicate effectively on the legal and other aspects of the individual course topic; Demonstrate the ability to use other disciplines to analyze legal issues relevant to the individual course topic, including economics, philosophy, and sociology, as appropriate.
Administrative and Regulatory Law Learning outcomes: Demonstrate a core understanding of administrative and regulatory law and the administrative process, including the role of statutory authorization and work of administrative agencies; Perform legal analysis in the context of administrative and regulatory law; Communicate effectively on topics related to administrative and regulatory law; Demonstrate an understanding of the role administrative and regulatory law play in our legal system and in society as a whole.