There are law schools around the country that enable students to learn about both economics and the law. One of the more common dual-degree graduate programs awards a Juris Doctor (J.D.)/Doctor of Philosophy (Ph.D.) in law and economics.
Top 10 Law Schools
U.S. News & World Report deemed the following institutions to be the best law schools in the United States in 2016.
|College/University||Location||Institution Type||Tuition and fees (2015-2016)*|
|Yale University||New Haven, CT||Private||$58,050|
|Harvard University||Cambridge, MA||Private||$58,242|
|Stanford University||Stanford, CA||Private||$56,274|
|Columbia University||New York, NY||Private||$62,700|
|University of Chicago||Chicago, IL||Private||$56,916|
|New York University||New York, NY||Private||$59,330|
|University of Pennsylvania||Philadelphia, PA||Private||$58,918|
|University of California - Berkeley||Berkeley, CA||Public||$48,679 in-state, $52,630 out-of-state|
|University of Michigan - Ann Arbor||Ann Arbor, MI||Public||$53,112 in-state, $56,112 out-of-state|
|University of Virginia||Charlottesville, VA||Public||$54,000 in-state, $57,000 out-of-state|
Source: U.S. News & World Report
School Selection Criteria
Here are some considerations to remember when choosing an economic law program:
- Make sure that the program you choose includes coursework in key financial and economic issues, such as contracts, business regulatory practices, intellectual property and anti-trust concerns.
- To save time and money, individuals can look into joint degree programs at the graduate level that lead to both a J.D. and Ph.D. in economics and law.
- Some schools offer Master of Laws (LL.M.) in International Economics programs that concentrate on international business policies and regulatory practices. However, many LL.M programs are intended for foreign-educated practicing lawyers and may not be suitable for students educated in the U.S.
Bachelor of Arts in Economics, Concentration in Pre-Law
The pre-law concentration might include classes covering fundamentals of constitutional law, business law and economics in law. These programs can prepare graduates to enter law school or a graduate degree program related to financial management and national or international economies.
J.D./Ph.D. in Law and Economics
Core coursework typically involves integrated classes about the theory and behavior on the convergence of law and economics. Many joint degree programs allow students to specialize in a particular area of expertise. Some schools require that students apply to both programs simultaneously, while others allow students who hold a J.D. to later enter the law and economics Ph.D. program.
LL.M. in International Business and Economic Law
A J.D. is usually necessary for entry to this program, which might require completion of 24-42 credits. Degree programs of this type tend to be highly customizable and allow students to select a specific are of focus.
Aspiring lawyers who want to learn about both economics and the law can pursue several different educational tracks, depending on their particular interests in the field.