14 episodes

Law students are routinely taught how to gather facts, interpret legal texts, and apply legal rules to established facts. These techniques are and will always be important to all lawyers, regardless of their position and practice. However, they do not suffice. Lawyers in almost every area of practice (litigation, corporate, government, public interest, etc.) must be familiar with analytical concepts and methods that go beyond fact gathering and interpretative legal skills in order to be successful. This course covers the basics of the methods. It will provide you with a fundamental understanding that allows you to apply them when necessary in legal practice. This course is designed to be fully accessible to those with no prior quantitative training or background in the subjects covered. However, a high school level of mathematics is required.

LMU Analytical Methods for Lawyers - Lehrstuhl für Bürgerliches Recht, Deutsches, Europ. und Int. Unternehmensrecht Ludwig-Maximilians-Universität München

    • News

Law students are routinely taught how to gather facts, interpret legal texts, and apply legal rules to established facts. These techniques are and will always be important to all lawyers, regardless of their position and practice. However, they do not suffice. Lawyers in almost every area of practice (litigation, corporate, government, public interest, etc.) must be familiar with analytical concepts and methods that go beyond fact gathering and interpretative legal skills in order to be successful. This course covers the basics of the methods. It will provide you with a fundamental understanding that allows you to apply them when necessary in legal practice. This course is designed to be fully accessible to those with no prior quantitative training or background in the subjects covered. However, a high school level of mathematics is required.

    • video
    Analytical Methods - Folge 3: Contracting

    Analytical Methods - Folge 3: Contracting

    Contracting - Example: Your next tenancy agreement; Why exchange goods and services?; The Edgeworth box: Tea or coffee?; Why contracts?; Complete contracts; Contracts and the law; Adverse selection vs. moral hazard; Adverse selection: The reaction cycle; Moral hazard; Resolving disputes; Contract checklist; Production contracts; Examples for flat-free and cost-plus contracts; The hold-up problem; Sale and lease of property; Loan contracts; Principal-agent contracts; Example: Bonuses for executives.

    • 2 hrs 3 min
    • video
    Analytical Methods - Folge 2: Game Theory

    Analytical Methods - Folge 2: Game Theory

    Game Theory - Decision theory vs. game theory; A typical legal application of game theory; Some applications of game theory in legal settings; Representation of games; Normal-form games; The prisoner's dilemma; Prisoner's dilemma in litigation; Solution concepts for the prisoner's dilemma; Discoordination game: Matching pennies; A clever takeover bid; Dominant strategy equilibrium; Iterated games; The iterated prisoner's dilemma; Social benefits or social losses?; Achieving the cooperative outcome; N-person prisoner's dilemmata and common goods; Coordination games; Extensive-form games; The ultimatum game.

    • 1 hr 53 min
    • video
    Analytical Methods - Folge 5: Individual Finance

    Analytical Methods - Folge 5: Individual Finance

    Individual Finance - What is finance?; Individual Finance; Finance and Lawyers; The time value of money; The time price of money;Compound interest; The effect of compound interest; Example: An investment decision; Example: Refined litigation risk analysis; Inflation; The Rule of 72; Net present value of an investment; The concept of Annuities; Internal rate of return; Risk and return; Mortgages as means of individual finance; The concept of a mortgage; Student debt in the US; Financial distress: Personal bankruptcy; Financial innovations before the crisis; The financial crisis - how come?; Global CDO Issuance Volume 2000 - 2012; Legal responses to the finacial crisis; Too big to fail?.

    • 1 hr 58 min
    • video
    Analytical Methods - Folge 1: Decision Theory

    Analytical Methods - Folge 1: Decision Theory

    Decision Theory - Fundamental concepts; Expected value; Cumulative Probabilities; Serially cumulative probabilities; Decision trees; TreeAgePro and other software for litigation risk analysis; Difficulties in building the tree; Discounting and risk preferences; Risk aversion; Sensitivity analysis; Challenges to the rationality assumption.

    • 3 hrs 49 min
    • video
    Analytical Methods - Folge 4: Accounting

    Analytical Methods - Folge 4: Accounting

    Due to software failure this podcast covers only the first part of unit 4; we are currently working on restoring the second part.

    Accounting - Accounting and Lawyers; Why Accounting?; Financial Statements; Financial statements in the media; The fundamental accounting equation; The structure of a balance sheet; San Francisco Coffee Company GmbH; The income statement; Sample income statement; Alternative design of the income statement; Income statement Siemens AG; Cash flows; Sample cash flow statement (IAS 7).

    • 56 min
    • video
    Analytical Methods - Folge 6: Corporate Finance

    Analytical Methods - Folge 6: Corporate Finance

    Corporate Finance - What is corporate finance?; The fundamental accounting equation; Corporate finance and lawyers; The spectrum of financial products; Why do firms emerge?; The theory of the firm; Insourcing or outsourcing - make or buy?; Insourcing at General Motors; Why is there limited liability?; Separation of ownership and control; Shareholder coordination; Managers as agents for the stockholders; The case of Ernst Lieb; Diverging interests; Principal-agent theory; The case of Rajat Gupta; Countermeasures for principal-agent problems; The market for corporate control; Agent costs of debt; The efficient-market hypotheses; Behavioral finance; The dot-com bubble; Company valuation.

    • 1 hr 55 min

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