In this course, you will focus on Section 2 of the Sherman Act and the Clayton Act, which forbids monopolies and states that mergers are illegal if the effect may be to substantially lessen competition, respectively. These laws don't have strict definitions, so it has been left to courts to interpret. You will walk through a series of court cases to examine what behaviors have come to define monopolistic conduct and how courts, as well as regulators, have tried to determine whether a merger should be prohibited because it will stifle competition. Through this course, you will gain a better understanding of the impact these laws and their interpretations have on the overall marketplace and your organization as you do business in the 21st century.
You are required to have completed the following course or have equivalent experience before taking this course:
Antitrust and Horizontal Restraints on Trade
Key Course Takeaways
Explore how courts and regulators have determined and defined monopolistic behavior
Examine how courts and regulators decide if a merger will hurt competition and should be prohibited
Charles Frank Reavis Sr. Professor of Law and Professor of Economics, Cornell Law School
George Hay is one of the foremost antitrust authorities in the United States. After he received his Ph.D. in economics from Northwestern University, Professor Hay taught economics at Yale University for five years, until he joined the U.S. Department of Justice’s Antitrust Division in 1972. He served as Director of Economics and won several awards for service to the Justice Department. Professor Hay became a Professor of Law and a Professor of Economics at Cornell University in 1979 and was named to the Edward Cornell chair in the Law School in 1992. He became the Charles Frank Reavis Sr. Professor of Law in 2014.
Professor Hay teaches a variety of law and law-related courses in both the Law School and the College of Arts and Sciences, and he lectures on antitrust throughout the United States and the rest of the world. He has appeared as an expert witness in many antitrust cases in the United States, Canada, Australia, and New Zealand. Professor Hay’s most recent articles include “A Tale of Two Cities: From Davids Holdings to Metcash,” coauthored with E. Jane Murdoch, and “Anti-competitive Agreements: the meaning of ‘agreement.’”