Interdisciplinary
Law and Economics Highlights
NYU Law has a core of full-time faculty that consider law and economics a primary focus of their work: Professors Barry Adler, Jennifer Arlen '86, William Allen, Oren Bar-Gill, Lily Batchelder, Vicki Been '83, Stephen Choi, Kevin Davis, Mark Geistfeld, Clayton Gillette, Robert Howse, Marcel Kahan, Lewis Kornhauser, Florencia Marotta-Wurgler '01, Geoffrey Miller, Richard Revesz, Deborah Schenk, Daniel Shaviro and Katrina Wyman. Among those are several lawyer-economists—Professors Arlen, Choi, Bar-Gill, Geistfeld and Kornhauser all have both J.D.s and Ph.D.s in economics. Their research and teaching ranges from the economic analysis of law to behavioral economics to the relation between economic and moral theories of tort law.
The depth of scholarship in law and economics is further increased by affiliated and visiting faculty. Affiliated Professor Nicola Persico, for example, a professor of economics at NYU, teaches Quantitative Methods and Models for Law and Society and Law and Economics of Discrimination. Adjunct Professor Alan Rechtschaffen teaches Financial Instruments and the Capital Markets. Leading economists, such as Daniel Rubinfeld, Suzanne Scotchmer, Mihir Desai and Alan Auerbach, participate in the intellectual life of the Law School.
The economic analysis of law is taught throughout the standard curriculum as well as in advanced courses and several colloquia. There are the Colloquium on Law and Economics; the Colloquium on Law, Economics and Politics; the Innovation Policy Colloquium and the Tax Policy Colloquium. In the Law, Economics and Politics Colloquium, for example, students investigate a wide variety of topics ranging from the foundations of rational choice theory to applications to questions of immediate interest. Economists and political scientists have used the theory to investigate a number of topics of central interest to the law such as (a) how the organization of Congress affects the nature and content of legislation enacted; (b) the relation between courts and Congress; (c) Congressional and judicial control of administrative agencies; (d) federalism and (e) the structure of adjudication.
The Law School’s Center for Law, Economics and Organization promotes interdisciplinary research and teaching in law and economics. Two of its directors recently organized at NYU the Second Annual Conference on Empirical Legal Studies, which featured original empirical and experimental legal scholarship by leading scholars worldwide. More than 400 scholars from across the country and around the world, from many academic disciplines, participated in this event. Professors Geoffrey Miller and Jennifer Arlen are leading proponents of empirical analysis of legal issues, which has recently seen a dramatic growth in popularity. The legal community is embracing the empirical approach, says Miller, because “it doesn’t attempt to argue for or against any moral or social objective, but to figure out how the law functions in practice—what its consequences really are. [Empiricism accomplishes this] without being speculative but by actually counting and observing.” (Read more about Empirical Legal Studies in The Law School magazine.)
More than 170 nations regulate their economies through central banks. NYU's Center for the Study of Central Banks and Financial Institutions draws on perspectives from law, economics, political science, history and sociology. Also headed by Miller, it sponsors the annual Global Economic Forum. The featured speaker in 2007 was Ben Bernanke, the chairman of the Federal Reserve Board; this year the keynote speaker was Jean-Claude Trichet, president of the European Central Bank.
For students interested in research and study in the field of law and economics, NYU offers both a joint J.D./M.A. (economics) degree and a joint J.D./Ph.D. (economics) degree. NYU School of Law students can also cross-register for courses at the economics department, the Stern School of Business, the political science department and the Wagner Graduate School of Public Service.
There are also several programs and scholarships available for entering and current J.D. students, including:
Law and Economics Scholars Program
Leadership Program in Law and Business
Furman Academic Scholars Program
Environmental and Land Use Scholars Program
Housing and Urban Policy Scholars Program
Institute for International Law and Justice Scholars Program
Intellectual Property Law Scholars Program
Lawrence Lederman/Milbank Fellowship
Leadership Program in Tax Law and Fiscal Policy
For graduating J.D. students, fellowships include:
Furman Academic Fellowship Program
Wagner Fellowship in Law & Business