George Mason Law & Economics Center Twenty-Eighth Economics Institute For Law Professors

Sunday, July 15 to Friday, July 27, 2012, The Stanley Hotel, Estes Park, CO

The Henry G. Manne Program in Law & Economics Studies presents the Twenty-Eighth Economics Institute for Law Professors to be held at The Stanley Hotel in Estes Park, CO. The program will run from Sunday, July 15 to Friday, July 27, 2012.

OVERVIEW: The goal of the Economics Institute for Law Professors is to help participants enhance their understanding of economics and broaden their analytical tools in order to introduce greater economic sophistication and policy relevance to their professional work. More than 640 law professors worldwide have attended the LEC's Economics Institutes. Alumni routinely credit the Institute with providing creative insights into research and teaching, and with facilitating collegial associations.

The Economics Institute is carefully designed for those who possess little or no previous formal economics education. It covers basic price theory, with emphasis on the allocative effects of alternative property rights regimes, transaction cost economics, and the application of basic economic theory to a variety of legal issues.

The Twenty-Eighth Economics Institute will accommodate up to 30 law professors. All professors must attend group meals and social events together. Classes meet for two weeks, with morning sessions daily and afternoon sessions scheduled on several days. There is no class on Sunday, July 22.

The Economics Institute for Law Professors will run concurrently with the Law Institute for Economics Professors.

Reading assignments are substantial. Participants will receive, and are urged to study, the reading materials in advance.

TOPICS: Topics to be covered include:
- Supply and Demand
- Consumer Behavior and Demand
- Cost, Production and Supply
- Game Theory
- Competition, Oligopoly and Monopoly
- Environmental Economics
- Property Rights Economics and the Coase Theorem
- Agency Costs, Transactions Costs and the Theory of the Firm
- Crime and Punishment
- Risk, Injury, Liability and Insurance
- Public Choice Economics
- Labor Economics
- Experimental and Behavioral Law & Economics
- Economics of Innovation
- Growth Economics

The Economics Institute for Law Professors is organized by Henry N. Butler, Executive Director of the Law & Economics Center and George Mason University Foundation Professor of Law at George Mason University School of Law.

NO TUITION; HOTEL AND GROUP MEALS ARE PROVIDED: There is no tuition charged for the Institute, nor are there any room and board fees. Participants are responsible for their own travel costs to and from the Institute, as well as incidental expenses and individual meals.

REFUNDABLE DEPOSIT: All participants accepted to the program will be asked to make a refundable* deposit of $1,200 to guarantee their place at the program. Deposits are due within thirty (30) days of acceptance. Failure to provide the deposit by that date will result in cancelation of acceptance.

*Deposit will only be refunded upon completion of the entire Institute, including participation in all group functions.
APPLICATION PROCESS AND ACCEPTANCE: Acceptance for this conference is by competitive application only. Application should be made through the Law & Economics Center's website at: http://www.masonlec.org/application-law-institute-for-economics-professors

Each applicant must state why they believe this program will be valuable to them and their work, and provide the names and contact information for three (3) professional references. The applicant may also include any additional information that would be pertinent to the decision-making process. Letters of recommendation are welcome, but not required.

For questions regarding the application process, or about the program in general, please contact Jeff Smith at jsmithQ@gmu.edu. The LEC will begin evaluating applications on December 1 and will continue to consider applications until the program is fully subscribed.

INSTITUTE FACULTY:
- Terry L. Anderson, Hoover Institution and Property and Environment Research Center (PERC)
- Joanna Shepherd Bailey, Emory University School of Law
- Michael R. Baye, Kelley School of Business, Indiana University
- Henry N. Butler, George Mason University School of Law
- Robert D. Cooter, University of California, Berkeley, Boalt Hall School of Law
- Scott E. Masten, Ross School of Business, University of Michigan
- Joshua D. Wright, George Mason University School of Law
- Kathryn M. Zeiler, Georgetown University Law Center
- Todd J. Zywicki, George Mason University School of Law

AGENDA: Complete program agenda is available on our website at: http://www.masonlec.org/economics-institute-for-law-professors. Reading assignments will be added by May 15, 2012.

READING MATERIALS AND ASSIGNMENTS: Reading materials will be provided in advance. Other materials will be downloadable from the LEC website.

VENUE:
The Stanley Hotel
333 Wonderview Avenue
Estes Park, CO 80517
http://www.stanleyhotel.com

A room reservation will be made for each of the accepted participants. Do not reserve a room yourself. If you wish to extend your stay either before or after the Institute, please contact Jeff Smith and he will assist you in making those arrangements.

MEALS: Breakfast and lunch will be provided on days with class sessions. There will be five (5) receptions and four (4) dinners over the course of the Institute. Interaction between Institute faculty and participants is an important part of the learning experience. Therefore, all participants are required at all meals on the program agenda. All meals will be shared with the participants in the concurrent Law Institute for Economics Professors.

TRAVEL: Participants are responsible for their own transportation arrangement and expenses to and from the Institute. The closest airport to the Stanley Hotel is Denver International. Directions to the Institute are available here: http://stanleyhotel.com/directions

FURTHER INFORMATION: For more information regarding this conference or other initiatives of the Law & Economics Center, please visit: http://www.MasonLEC.org and http://www.MasonManne.org or call or send an email to: (703) 993-8040, lec@gmu.edu