We didn't have a specifc course for Equity stuff, per se. We had a strong, written out production policy in my college, that was based on Equity rules. I took Theatre Management twice (1st time for credit, 2nd time I audited for a new teacher's perspective). In this class the final project was the "create" our own new small professional theatres. The first time I took the class, the professor wanted us to fully take into account the restrictions of the SPT contract. So I read through that then. I let the rest of the team be more creative, and I was the nay-sayer in terms of policy, and budget.
Independently during college, because I had an interest, I also read the LORTand NEAT contracts. We had no formal instruction in it, but I sought it out.