You shall teach them the statutes and the laws, and shall show them the way in which they must walk, and the work that they must do. (Exodus 18:20)
The laws or instructions of Yahweh are not often described, but there were indeed specific laws for the children of Israel. These laws were revelations of what God's will was concerning certain people, situations, etc., that they would not otherwise know. It was teaching for Israel to learn God's laws, because it was knowledge they didn't have in themselves. Let's look at the word:
"The Hebrew word "torah" is the same word used for the entire compilation of words, appointments, commandments, statutes, ordinances and laws, that refers to the first five books of the Bible, written by Moses. It comes from the primitive root, ירא, to teach or to throw or shoot an arrow. It is used to describe instruction by showing a person what the "mark" to aim for really is."
Knowing the above, the laws of Yahweh were very important to Israel to learn what God wanted of them. It helped Israel learn for what mark God was wanting them to aim, in many different areas of life. To understand God's intention is to certainly be instructed and we thus can learn much by studying Yahweh's laws.
8Be careful that you don't let anyone rob you through his philosophy and vain deceit, after the tradition of men, after the elements of the world, and not after Christ. 9For in him all the fullness of the Godhead dwells bodily, (Colossians 2:8-9)