Pass/Fail and Law School Admissions

<p>I'm a sophomore considering (but not set on) applying to law school. I've been struggling with an Economics course, and after realizing how important GPA really is in things like law school admissions, I've come to the decision to either take the course Pass/Fail or drop it. If I were to take it Pass/Fail (within my allowed Pass/Fail budget per my university), would that adversely affect my chances as a law school applicant later on? Would it look bad to admissions committees?</p>