Forensic economics
Encyclopedia
Forensic economics is the scientific discipline that applies economic
theories and methods to the issue of pecuniary damages
as specified by case law
and legislative codes
. Topics within forensic economics include (1) the analysis of claims involving persons, workers, firms, or markets for evidence concerning damage liability; (2) the calculation of damages in personal and commercial litigation; and, (3) the development and use of generally accepted forensic economic methodologies and principles. [Definition adopted by National Association of Forensic Economics Board of Directors, 8/1/2002]
A graduate degree in economics is the usual qualification of forensic economists. Other persons who provide economic damages related testimony include persons with graduate degrees in business/finance/accounting, financial analysis, and vocational rehabilitation specialists.
“Forensic Economics: An Overview” provides additional detail concerning the work of forensic economists. The article appeared as part of a “Symposium on Forensic Economics.”
Recent Text Books
Economics
Economics is the social science that analyzes the production, distribution, and consumption of goods and services. The term economics comes from the Ancient Greek from + , hence "rules of the house"...
theories and methods to the issue of pecuniary damages
Damages
In law, damages is an award, typically of money, to be paid to a person as compensation for loss or injury; grammatically, it is a singular noun, not plural.- Compensatory damages :...
as specified by case law
Case law
In law, case law is the set of reported judicial decisions of selected appellate courts and other courts of first instance which make new interpretations of the law and, therefore, can be cited as precedents in a process known as stare decisis...
and legislative codes
Statute
A statute is a formal written enactment of a legislative authority that governs a state, city, or county. Typically, statutes command or prohibit something, or declare policy. The word is often used to distinguish law made by legislative bodies from case law, decided by courts, and regulations...
. Topics within forensic economics include (1) the analysis of claims involving persons, workers, firms, or markets for evidence concerning damage liability; (2) the calculation of damages in personal and commercial litigation; and, (3) the development and use of generally accepted forensic economic methodologies and principles. [Definition adopted by National Association of Forensic Economics Board of Directors, 8/1/2002]
A graduate degree in economics is the usual qualification of forensic economists. Other persons who provide economic damages related testimony include persons with graduate degrees in business/finance/accounting, financial analysis, and vocational rehabilitation specialists.
“Forensic Economics: An Overview” provides additional detail concerning the work of forensic economists. The article appeared as part of a “Symposium on Forensic Economics.”
See also
- EconomicsEconomicsEconomics is the social science that analyzes the production, distribution, and consumption of goods and services. The term economics comes from the Ancient Greek from + , hence "rules of the house"...
- ForensicsForensicsForensic science is the application of a broad spectrum of sciences to answer questions of interest to a legal system. This may be in relation to a crime or a civil action...
- Economic damages
Recent Text Books
- Determining Economic Damages, by Gerald D. Martin, James Publishing, Inc., 1988-2011.
- Economic Foundations of Injury and Death Damages, Roger T. Kaufman, James D. Rodgers, and Gerald D. Martin Editors, Edward Elgar Publishing Company, 2006.
- Measuring Loss in Catastrophic Injury Cases, Kevin Marshall and Thomas R. Ireland and John O. Ward Editors, Lawyers and Judges Publishing Company, 2006.