Review Suggestions
邓老师是 2023 年刚刚加入 UM，Law and Econ 也是新开的（也许是因为他在马里兰大学读 phd 的时候担任这门课的 TA），第一年的整体难度不难，而且又因为这门课是一个 RE，大三大四的牛鬼蛇神全部汇聚一堂，带给你压力的本身不是知识本身的难度而是身边的学神学霸。
如果把 problem set 和 PPT 好好看一两遍，自己能够总结出 PPT 里的 conclusion 性质的表格，考试的时候不要失误，相信也能取得好成绩。
To analyze the laws as an “Economist”.
Review Class on Microeconomics
Review
Review Guide:
Concepts:
- Contracts, performance and breaches, damages, liability rules, efficient investment and reliance, paradox of compensation, foreseeability. (Note that the actual amount of damages payment depends not only on the liability rule, but also on whether the payment is upfront or upon delivery of the good. If there is any upfront payment or deposit, that should be included in damages calculation when breach happen.)
- Torts, precaution and care, liability assignment, negligence, due care level, efficient level of precaution and activity, business and strangers/customers.
- Crimes, deterrence, detection and punishment costs.
Examples :
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Remedies and investment in performance.
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In class contract example and optimal performance.
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Airplane purchase.
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Concert ticket example and damages rules.
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Hadley v. Baxendale: Penalty Defaults Example.
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Bilateral precaution example.
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Taxi driver example.
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Oyster bar example.
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Crime deterrence example.
Exercise
- Problem Set 4
- Problem Set 5
- Problem Set 6