Econ 522 – Economics of
Law – Spring 2012
Lectures: |
Mondays and Wednesdays, 2:30-3:45 p.m., Social Science 5106 |
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Professor: |
Dan Quint, dquint@ssc.wisc.edu |
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7428 Social Science, 263-2515Office hours: Tuesdays 1:30-3:30 p.m., other times by appointment |
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Teaching Assistant: |
Fran Flanagan, fflanagan@wisc.edu 6443 Social ScienceOffice hours: Mondays 12:15-2:15 p.m. |
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Exam Dates: |
Two in-class midterms, Feb 29 and March 26, held in Birge Hall 145Final exam Monday, May 14, 10:05 a.m.-12:05 p.m., in Social Science 6210 |
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Office Hours Between Now and the Final: |
Monday 5/7 Fran, 12:15-2:15 p.m.Tuesday 5/8 Prof. Quint, 1:30-3:30 p.m.Wednesday 5/9 Prof. Quint, 2-4 p.m.Thursday 5/10 Prof. Quint, 2-4 p.m.Friday 5/11 Fran, 1-3 p.m. |
Syllabus Homework 1 – efficiency due 11:59 p.m., Thursday February 9 via Learn@UW
Homework 2 – property law due 11:59 p.m., Thursday February 23 via Learn@UW
Homework 3 – contract law due 11:59 p.m., Thursday March 15 via Learn@UW
Homework 4 – torts, legal process, criminal law due 11:59 p.m., Thursday May 3 via Learn@UW
Sample exam problems from past semesters, and an answer to one of them.
Practice problems for Monday May 7.
Slides/Lecture Notes introductory material Lecture 1 – overview, the Common and Civil Law traditions, whales and baseballsLecture 2 – efficiency – what is it, and do we want it? Optional (ungraded) homework problem for next MondayLecture 3 – static game theory, motivating property law property law Lecture 4 – the Coase Theorem; Demsetz on when property rights will expandLecture 5 – normative Coase and normative Hobbes; Calabresi and Melamed on remediesLecture 6 – more on efficient property law design; sequential rationalityLecture 7 – intellectual propertyLecture 8 – establishing and losing property rights; remedies; limitations and exceptions to property rightsLecture 9 – more limitations on property rights: regulation and eminent domain contract law Lecture 10 – motivating contract law; the bargain theory; breach of contractLecture 11 – reliance; default rules; regulationsLecture 12 – when should a contract not be enforced?Lecture 13 – more ways to get out of a contract; more on remedies for breachLecture 14 – penalty vs liquidated damages; examples of incentives; repeated interactionsLecture 15 – endgame problems in repeated games; motivating tort law tort law Lecture 16 – precaution, activity, incentives under various liability rulesLecture 17 – more on incentives under various liability rules; the Hand Rule, effects of errorsLecture 18 – extensions to the basic modelLecture 19 – value of a statistical life; punitive damages; facts about the US tort system legal process Lecture 20 – the legal process itselfLectures 21 and 22 – criminal law other stuff Lecture 23 – behavioral economics and the lawLecture 24 – efficiency revisited, conclusion Section Handouts Section 1 (Jan 27)Section 2 (Feb 3)Section 3 (Feb 10)Section 4 (Feb 17)Contract Law handout 1 (Mar 9)Contract Law handout 2 (Mar 16)Tort Law handout 1 (Apr 13)Tort Law handout 2 (Apr 20)Criminal Law handout (Apr 27) Review ProblemsReview Solutions You can also check out the course materials from last semester, the course will be very similar.