Asian Law and Economics Association ConferenceJune 20, Seoul, Korea

Teaching Law and Economics

in Korea

Haksoo KoSeoul National University School of Law

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Brief History of Law and Economics Education in Korea First offered as an undergraduate course at

Seoul National University College of Law in mid-1980s.

A few more courses were offered in early 1990s, and course offerings steadily (and slowly) have been increasing ever since.

Also, steady increase of academic interests in the field Increase in the number of researchers Korea Law and Economics Association was

established in 2002

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Law and Economics Education in Korea Today Current situation of course offerings

(based on the presenter’s non-comprehensive, non-systematic information)

15 – 20 courses are regularly offered nationwide in an academic year at an undergraduate level

Plus, several graduate level courses Courses are offered mostly for economics

students, not for law students Courses are generally introductory courses

Not common to offer advanced level courses

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Universities where courses are regularly offered (not exhaustive)

Seoul National University – Law; Public Policy Yonsei University – Economics Korea University – Economics SungKyunKwan University – Economics Kyung Hee University – Economics Sookmyung Women’s University – Economics Inchon University – Economics University of Seoul – Economics Pusan National University – Economics Dongguk University – Economics Chonnam National University – Economics

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Law and Economics Education in Korea Today

Law and Economics Education in Korea Today: Survey Results Students

(based on the presenter’s non-comprehensive informal survey)

Mostly economics major Mostly college juniors and seniors Courses are popular at many universities

Number of students is often close to or over 100 Expected to become more popular, especially

among those who plan to apply to “Law School”

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Law and Economics Education in Korea Today : Survey Results Textbook

(based on the presenter’s non-comprehensive informal survey)

Popular textbooks Se-Il Park (Korean) Cooter and Ulen

And, Posner Polinsky

Plus, Some other books, or course packets composed of

compiled materials

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Law and Economics Education in Korea Today : Survey Results Subject legal areas that are covered

(based on the presenter’s non-comprehensive informal survey) Major areas covered:

Property Torts Contracts Litigation Criminal law

And, Corporate law Competition law

Plus, Intellectual property; Constitutional law; Administrative

law One major issue

To teach (mostly) the US law? Or, (mostly) applied economics?

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Law and Economics Education in Korea Today : Survey Results Graduate level interests

(based on the presenter’s non-comprehensive informal survey)

Growing interest But, not much developed and served yet Guidance and exposure needed

For economics students: to teach them it could be much more than applied microeconomics

For law students: to lower entry barrier (regarding economics methodology)

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Law and Economics Education in Korea Today : Survey Results Pedagogic challenges

(based on the presenter’s non-comprehensive informal survey)

Lack of background understanding of law or economics (of instructors and of students)

From economics Possibility of ‘over-emphasis’ of economic methodology and

technicality Possibility of focusing on issues that are not legally important

or not applicable in Korea From law

Possibility of teaching ideas or methodology that are economically inaccurate or biased

Lack of textbooks written in Korean Lack of cases, examples and other materials based on

Korean experiences that can easily be used in class9

Law and Economics Education in Korea Tomorrow? General increase in interests and demand,

but uncertainty remains Introduction of the “Law School” system is the

biggest factor “Law School” factor

“Law School”: Post-graduate professional school Student body:

Many are undergraduate economics or business majors

Student demand: General increase in interest in areas related to

economics and business

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Universities where courses are expected to be offered as law school courses under the new “Law School” system

(not exhaustive at all; situations can easily change) Seoul National University Korea University SungKyunKwan University Hanyang University University of Seoul Pusan National University Many other schools seem to have plans to offer courses in

law and economics, although these plans could just remain as plans

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Law and Economics Education in Korea Tomorrow?

Law and Economics Education in Korea Tomorrow? Introduction of the “Law School” system

Positive effect Continued increase in interest (or, even

greater interest than before) From students (and thus for course offerings)

and also among academics Limiting factors

Limited supply of instructors Currently, some schools apparently have

difficulties finding suitable instructors (and professors in the field)

Limited interest from the “traditional” legal academia

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Law and Economics Education in Korea Tomorrow? How to supply instructors and researchers

to meet the growing demand? Entry barrier

Issue of fluency in both law and economics (Majority of) supply so far

Ph.D in Economics, often with degrees from major US universities Background in industrial organization and/or in applied

microeconomics Usually no prior training in law In relative terms, lower entry barriers for them to teach law

and econ, especially competition law and econ Any lawyers?

Not many. Often exposure to law and econ while pursuing graduate level legal training in the US

Some, after getting undergraduate law degree, obtained economics Ph.D (or, the opposite)13

Law and Economics Education in Korea Tomorrow? Supply of instructors and researchers

Challenges Catering to advanced, diversified needs

Collaboration needed between law and econ scholars on the one hand, and scholars in subjective legal areas on the other

Staying “relevant” to today’s legal and institutional issues in Korea

Differentiation from the familiar dogmatic approach to law Proving that law and economics is useful and

relevant Skeptics are abundant!!

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