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 the analysis of claims involving persons, workers, firms, or markets for evidence concerning damage liability; the calculation of damages in personal and commercial litigation; and, 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
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.