University of Pennsylvania Carey Law School

We also welcome into our classrooms students whose careers and educations cross sectors and international lines. Students pursuing Master in Law and LLM degrees enrich and diversify our course discussions, contributing to the Law School’s overarching mission to provide the finest and most comprehensive legal education for all students. From Native American law to trial advocacy, and from environmental law to human rights, UCLA Law is home to top programs, centers and institutes that offer unique learning opportunities and a chance for students to make an impact while still in school. The most prominent economic analyst of law is 1991 Nobel Prize winner Ronald Coase, whose first major article, The Nature of the Firm , argued that the reason for the existence of firms (companies, partnerships, etc.) is the existence of transaction costs. Rational individuals trade through bilateral contracts on open markets until the costs of transactions mean that using …