Joint Degrees in Law & Economics

George Mason University School of Law is one of the nation’s leading centers for the study of law and economics. During the past 15 years, George Mason has assembled a distinctive, interdisciplinary faculty, many of whom hold doctorates in economics, philosophy, political science or related fields. The LLM Degree in Law & Economics provides an opportunity to develop an expertise in the skills of economic analysis as they are applied to a variety of legal settings.

George Mason University's School of Law and Department of Economics offer several joint degrees in Law & Economics. These programs have been given final approval by the faculties of the School of Law and the Department of Economics.

JD/PhD Joint Degree Program

The JD/PhD Joint Degree Program in Law and Economics provides a combined training in law and modern economic theory and quantitative methods and stresses a critical evaluation of legal, political, and social institutions in analyzing real world issues. It provides students with the most advanced and systematic training in these fields of research, preparing them for careers in academia (both law schools and economics departments), government and policymaking.

Joint Degree students would normally earn a joint JD and PhD in 12 semesters, including dissertation, obtaining joint credit for a total of 18 credit hours. This schedule is premised on participants being able to earn 9 credit hours in each program for coursework completed in the other program through recognition of "joint credit" for upper division coursework.

LLM/PhD Joint Degree Program

The LLM/PhD Joint Degree Program in Law and Economics is designed to provide advanced training in applied law and economics in conjunction with a systematic doctoral degree in economics. Admission to the LLM requires a JD or equivalent degree. This combination of degrees is particularly suitable to both U.S. and foreign lawyers who plan to acquire the most advanced and systematic training in the field of Law and Economics, preparing them for careers in academia (both law schools and economics departments), government and policymaking.

Joint Degree students would normally earn a joint LLM and PhD in 9 semesters, including dissertation, obtaining joint credit for a total of 12 credit hours. This schedule is premised on participants being able to earn 6 credit hours in each program for coursework completed in the other program through recognition of "joint credit" for upper division coursework.

JD/MA Joint Degree Program

The JD/MA Joint Degree Program in Law and Economics provides law degree students with an opportunity to master the fundamentals of modern economic analysis and quantitative methods. It provides students with full legal training and a solid focus on economics, preparing them for careers in legal academia, government and policymaking.

Joint Degree students would normally earn a joint JD and MA in economics in 10 semesters, obtaining joint credit for a total of 12 credit hours. This schedule is premised on participants being able to earn 6 credit hours in each program for coursework completed in the other program through recognition of "joint credit" for upper division coursework.

LLM/MA Joint Degree Program

The LLM/MA Joint Degree Program in Law and Economics provides LLM students with an opportunity to master the fundamentals of modern economic analysis and quantitative methods. Admission to the LLM requires a JD or equivalent degree. This combination of degrees is particularly suitable to both U.S. and foreign lawyers who plan to acquire the most advanced and systematic training in the field of Law and Economics, preparing them for careers in academia (both law schools and economics departments), government, and policymaking.

Joint Degree students would normally earn a joint LLM and MA in economics in 6 semesters, obtaining joint credit for a total of 10 credit hours. This schedule is premised on participants being able to earn 5 credit hours in each program for coursework completed in the other program through recognition of "joint credit" for upper division coursework.

George Mason's Degree Programs in Law and Economics

At George Mason, we recognize the importance of interdisciplinary studies. Our specialized programs ensure that our graduates can demonstrate depth as well as breadth in their education and that they are prepared for academic, legal and policy careers into the 21st Century.

As Henry Manne wrote when tracing the intellectual history of George Mason's law and economics program, economics has proven to be the most powerful and applicable cross-disciplinary tool to use in conjunction with law: "There simply are more fields of law that can use economics profitably than is true of any other discipline."

In 1996, the American Bar Association Section of Legal Education and Admissions to the Bar drafted a proposal identifying the basic areas of knowledge that are important to a sophisticated legal education and to the development of a competent attorney. Two are of particular interest to us:

A sound grounding in economics, particularly elementary microeconomic theory
Some basic mathematical and financial skills, such as an understanding of basic pre-calculus mathematics and an ability to analyze financial data.

JD Program

The School of Law teaches the wide range of traditional topics that form the bulk of modern practice, but in most courses a focus on quantitative and economic aspects of legal problems enhances the traditional doctrinal approach.

Our JD program probably offers the greatest variety of specialized courses in the profession and JD students will have the unique opportunity to acquire a concentration in legal and economic theory and systematic training in economic analysis of law, which will benefit their career and academic research. All our JD students, whether specializing in law and economics or not, are required to take a course in Economic Foundations of Legal Studies, which provides the foundation for the economic approach to law. Our curriculum introduces students to legal methods along with economic and quantitative tools, stressing the application of the nonlegal methods in legal contexts. We reinforce this strategy in most courses at the School of Law, where almost every professor of law is also expert in some area or areas of economics and quantitative methods. Students will also have the opportunity to study law and economics through our Exchange Program with the University of Hamburg, Germany.

All George Mason law students are required to satisfactorily complete 89 credit hours for graduation. Forty of those credit hours are in general courses; the remaining credit hours are in elective courses. See the Law School's web site for additional information concerning the JD degree requirements.

PhD Program

The PhD Program in Economics provides training in modern economic theory and quantitative methods and also stresses it's a critical evaluation of economic and social organizations in analyzing real world issues. It prepares students for careers in academia, business, and government. The program requires candidates to satisfactorily complete a minimum of 72 credit hours of course work, which includes up to 24 credit hours of dissertation work. Requirements for the degree include two courses of Microeconomic Theory (Econ 611 and 812), two courses of Macroeconomic Theory (Econ 715 and 816) and one course each of Mathematical Economics (Econ 630), and Econometrics (Econ 637). Also required are two courses in each of two fields of concentration. Students are required to pass preliminary examinations in Micro Theory and Macro Theory, both typically taken after the first year of full-time study, and in each of two fields of concentration. Full-time doctoral students typically take 9 - 12 credit hours of coursework each semester. Part-time students are encouraged to arrange their schedules to take two courses per semester for at least their first year of study. Specialized fields in graduate economics include Austrian Economics, Constitutional/ Institutional Economy, Public Choice, Law and Economics, Comparative Economic Systems, Industrial Organization, International, Monetary, Public Finance

Additional information concerning the PhD degree requirements can be obtained on-line at the Department of Economics web site.

LLM Program in Law and Economics

The LLM in Law & Economics offered at the School of Law is a natural outgrowth of the prominence that the Law School has achieved in this area and will be the only advanced degree in law and economics offered anywhere in the United States.

The LLM program in Law & Economics happily complements the strength of our new research in these blooming fields of research. Students have the opportunity to interact with leading figures in academia and to learn from an outstanding group of scholars whose work is at the frontier of current research. The school regularly hosts a number of distinguished speakers and scholars in the field of law and economics.

Our curriculum is probably the most advanced in the profession, and LLM students will have the unique opportunity to acquire a systematic training in economic analysis of law, which will benefit their future career and academic research. The schedule of taking courses is intended to be flexible. Students will be required to finish the program within two years, but most are expected to complete the degree in two semesters. Students will also have the opportunity to study law and economics through our Exchange Program with the University of Hamburg, Germany.

Admissions: For admissions to the LLM program, please contact the Admissions Office.

Courses in Law and Economics

A representative selection of offerings in law and economics and related disciplines is listed below.

Law courses:

Antitrust (Law 156)
Antitrust Policy Seminar (Law 480)
Bankruptcy (Law 167)
Case Studies in the Economics and the Law
Comparative Law (Law 346)
Economic Foundations of Legal Studies I (Law 108)
Economics of Private Law Seminar
Environmental Regulation I (Law 218)
Environmental Regulation II (Law 313)
International Business Economics and Law (Law 249)
Law and Economics Seminar (Law 482)
Law of Investment Management (Law 275)
Legal and Economic Theory of Intellectual Property (Law 261)
Litigation and Dispute Resolution Theory (Law 205)
Perspectives on the Individual, Family, and Social Institutions (writing course) (Law 344)
Perspectives on Regulation (Law 289)
Problems in Corporate Law Seminar (Law 447)
Products Liability (writing course) (Law 296)
Public Choice and Public Law (writing course) (Law 366 )
Regulated Industries (Law 315)
Tort Theory Seminar (Law 449)
Unincorporated Business (Writing Course) (Law 339)
Business Associations (Law 172)
International Trade (Law 253)
International Trade Law Seminar (Law 434)
Jurisprudence (Law 254)
Jurisprudence Seminar (Law 435)
Law and Social Science Seminar (Law 472)
Law of Investment Management (Law 275)
Legislation (Law 266)
Negotiating with the Regulatory State (Law 281)
Proof (Law 299)
Quantitative Forensics (Law 301)
Readings in Legal Thought (Law 342)
Real Estate Finance (Law 295)
Secured Finance (Law 322)
Securities Law and Regulation (Law 317)
Spontaneous Order and the Law (Law 456)
Statistics for Lawyers and Policy Analysts (Law 364)
Welfare Law and Policy Seminar (Law 455)

Economics courses:

Political Economy and Public Policy I (Econ 825)
Political Economy and Public Policy II (Econ 826)
Economic Philosophy (Econ 827)
Constitutional Economics (Econ 828)
Economics of Institutions (Econ 829)
Industrial Organization and Public Policy I (Econ 844)
Industrial Organization and Public Policy II (Econ 846)
Public Finance (Econ 849)
State and Local Public Finance (Econ 851)
Public Choice I (Econ 852)
Public Choice II (Econ 854)
Special Topics in Public Finance (Econ 853)
Economic Development (Econ 866)
International Trade and Policy (Econ 869)
International Monetary Economics (Econ 871)
Special Topics in Economics: Law and Economics (Econ 895)
Seminar in Public Finance (Econ 950)
Seminar in Economic Development (Econ 965)
Seminar in International Economics (Econ 970)
American Economic History (Econ 623)
Comparative Economic Systems (Econ 676)
Monetary Theory and Policy (Econ 817)
History of Economic Thought (Econ 820)
History of Economic Thought II (Econ 821)
Topics in Economic History (Econ 823)
Labor Economics (Econ 842)
Urban and Regional Economics (Econ 856)
The Economics of Urban Transportation Planning (Econ 858)
Resource Economics (Econ 860)
Economics of the Environment (Econ 861)
Economic Development (Econ 866)
Managerial Economics (Econ 872)
Economic Analysis of Soviet-type Systems (Econ 878)
Austrian Theory of the Market Process I (Econ 880)
Austrian Theory of Market Process II (Econ 881)
Seminar in Monetary Theory and Policy (Econ 918)
Seminar in Labor Economics (Econ 940)
Seminar in Industrial Organization (Econ 945)
Seminar in Urban and Regional Economics (Econ 955)
Seminar in International Economics (Econ 965)

Admissions and Academic Requirements

Joint degree applicants must qualify for admission in the respective programs according to the standards independently established by School of Law and Economics Department. Applications should be sent to the respective Admissions Offices, indicating that a parallel application is filed for another program under the joint degree program.

The School of Law and the Economics Department independently establish the requirements for graduation in each program. Joint degree students are subject to all such degree requirements with the exception of an allowance of joint credit for specified courses and for a maximum of 18 joint credits for JD/PhD program (9 credits from law courses and 9 credits from economics courses), 12 joint credits for LLM/PhD and JD/MA programs (6 credits from law courses and 6 credits from economics courses), and 10 credits for the LLM/MA program (5 credits from law courses and 5 credits from economics courses).

A matriculant in the School of Law who has been accepted into an approved joint degree program with the Department of Economics may substitute a specified number of credits in the Department of Economics for credits required to qualify for degrees in the School of Law, as follows: JD/PhD in Economics: 9 hours; JD/MA in Economics: 6 hours; LLM in L& E/PhD in Economics: 6 hours; LLMin L& E /MA in Economics: 5 hours.

Academic credit awarded in the School of Law under this provision will be considered ungraded credit for purposes of computing GPA in the School of Law. As a general rule, academic credit awarded under this provision may be substituted only for unrestricted electives in the School of Law. However by special permission granted upon an individual student's application, the School of Law's academic director for the applicable joint degree program may permit up to 3 hours of credit in the Department of Economics to be substituted for the required School of Law course in Legal and Economic Methods, where no legal educational purpose would be served by requiring the individual student to complete that required course in the School of Law; such special permissions will not increase the total amount of cross-credit permitted under this regulation.

Fellowships

Through the Levy Fellowship Program in Law and Liberty George Mason Law School encourages young scholars to enter the academic field of law and economics by sponsoring their pursuit of a JD degree at this Law School. Fellowship grants cover tuition and fees and provide a substantial stipend for up to three years.

To be eligible for a Levy Fellowship, an applicant must either (1) have earned a PhD in economics, political science, finance, or a related field from an accredited university or (2) have successfully completed all course work in one of the above fields and have passed a general exam for a PhD from an accredited university. Additionally, each fellow must pledge that it is his or her intention to pursue a policy-related or academic career with an interdisciplinary teaching and research specialization.

Two or more fellowships per year are granted to entering law students. Fellowship grants cover tuition and fees at the George Mason University School of Law and provide an average annual stipend of as much as $22,000 for up to three years.

Fellowships are granted for one academic year and are renewable, on evidence of satisfactory progress, for up to two additional years.

Contact Information

For Law School admissions, please contact 703-993-8010.

For Economics Department admissions, please contact the Economics Graduate Studies Office at 703-993-1135