NOTE: Course offerings change. Classes offered this semester may not be offered in future semesters.

251.31 sec. 1 - Introduction to Law, Economics and Business (Spring 2012)

Instructor: Robert D. Cooter  (view instructor's teaching evaluations | profile)
Instructor: Justin McCrary  (view instructor's teaching evaluations | profile)
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Units: 3
Meeting Time: MW 8:35-9:50
Meeting Location: 2240 Piedmont

Course Start: January 09, 2012
Course Control Number (1Ls): 49747 (section 2)
Course Control Number (Non-1Ls): 49745

Laws and legal institutions facilitate and constrain business. By explaining these effects, microeconomics reveals strategies to make the best use of law in business. Understanding these strategies enables business executives and lawyers to work together more intimately and profitably. Practice in large law firms divides into transactions, regulation, and litigation. The bodies of law that facilitate business by lubricating transactions include property and contracts, as well as corporations, bankruptcy, and banking. The bodies of law that constrain business include torts and regulations to protect consumers, investors, and the environment. Transactions and regulatory compliance mostly avoids litigation, but its shadow looms over all business activities. Law and business students in this class will use microeconomics, which is one of the major theoretical and strategic perspectives on law, to analyze and strategize about some of these major bodies of law. Course website is available at:

There is no formal prerequisite. Graphs and simple algebra will be used in class. Students who have not completed an
undergraduate class in intermediate microeconomics or its equivalent are discouraged from taking the class.

Exam Notes: F,Mid
Course Category: Jurisprudence and Social Policy (JSP)
This course is cross-listed in the following categories:
Business Law
Law and Economics

The following file is available for this course:


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Required Books are in blue

  • Law & Economics
    Robert Cooter and Tom Ulen
    Edition: 6th edition
    Publisher: Pearson
    Copyright Date: To Be Determined
    Note: prices are sampled from internet bookstores. Folletts prices are unavailable at this time.

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