The Business Law and Policy Specialization consists of five tracks designed to provide additional guidance to students in course selection, as well as highlight the program's curricular strengths:

• Business Law
• Bankruptcy
• Mergers and Acquisitions
• Securities Regulation 
• Taxation

All the tracks consist of the same set of foundational courses followed by two groups of courses (Groups A and B). Finally, each track consists of transactional courses, which offer intensive hands-on exposure to a field of practice. Thus, all the tracks in the specialization consist of eight or nine upper division courses.

Business Law Track

  • Three or four foundation courses in the second year (preferably in the first semester)
  • At least three Group A courses (basic courses for students intending to enter general business practice)
  • One Group B course, so that the total of courses chosen between Group A and Group B equals at least four
  • At least one transactional course (preferably in the third year). A second transactional course may be counted as a Group B course.   

Bankruptcy Track

  • Three or four foundation courses in the second year (preferably in the first semester)
  • One Group A course (Law 248. Business Bankruptcy)
  • Three Group B courses
  • One transactional course (preferably in the third year). A second transactional course may be counted as a Group B course.

Mergers and Acquisitions Track

  • Three or four foundation courses in the second year (preferably in the first semester)
  • At least two Group A courses 
  • Totaling, with Group B, at least four courses
  • One transactional course (preferably in the third year). A second transactional course may be counted as a Group B course.

Securities Regulation Track

  • Three or four foundation courses in the second year (preferably in the first semester)
  • One Group A course (Law 236. Securities Regulation)
  • Three Group B courses
  • One transactional course (preferably in the third year). A second transactional course may be counted as a Group B course.

Taxation Track

  • Three or four foundation courses in the second year (preferably in the first semester)
  • One Group A course (Law 291. Taxation of Business Enterprises)
  • Three Group B courses
  • One transactional course (preferably in the third year). A second transactional course may be counted as a Group B course.

The concept underlying these requirements is straightforward. The foundational courses — Accounting for Lawyers, Financial Analysis, Business Associations and Introduction to Federal Income Taxation — explore the forces underlying the world of business transactions. Accounting for Lawyers and Financial Analysis explain the rudiments of the accounting and microeconomic conventions that underlie contemporary analysis of market transactions; knowing the conventions behind the assignment of costs allows students to think themselves into the position of those who engage in business transactions. Business Associations explores the basic forms taken by entities engaging in market transactions — forms that have implications for both lawyers and business persons. To understand Federal Income Taxation is to understand many otherwise inexplicable aspects of transactions, which are often driven by quite different tax consequences attaching to varying forms a transaction might take.

Beyond these foundational courses, the program has identified courses that are basic courses for students intending to enter general business practice or other specialty practice areas (Group A courses), as well as courses that provide further depth in a variety of areas (Group B courses).

Finally, the program offers each student the opportunity to take an intensive transactional course. Advanced transactional courses offer skills development that will help prepare students to enter into transactional practice with a broad exposure to the relevant interconnected bodies of substantive law, an understanding of what and why transactional lawyers do what they do and how they go about doing it ethically and competently.

Simulations and exercises are a natural vehicle for integrating advanced instruction in several bodies of law with training in lawyering skills. Thus, an advanced seminar in mergers and acquisitions law might involve simulations that require students to integrate corporate law, taxation, securities law and antitrust law in the course of structuring, negotiating and drafting the documents necessary for the merger of two firms. Or an advanced course in securities law might call for students to structure, negotiate and draft documents pertaining to an initial public offering or private placement, integrating securities law, corporate law, taxation and commercial law, as well as skills development.