rayiner wrote:TaipeiMort wrote:First, whoever said that law and economics has no business application is uninformed. If you are already at a good econ level (where you understand the microeconomics underlying price, marketing strategy, and finance, and the macroeconomics underlying the monetary and banking system), then law and econ at Chicago will add some significant elements to your business education when it comes to macro decision making, especially at leadership, policy, and strategy levels.
This is completely ridiculous. Finance in practice has almost nothing to do with theoretical economics. Its much more closely related to accounting, mixed in with market psychology.
I agree. But, understanding in practice the economics of time, risk, information, etc. on valuation of assets, and how to take this knowledge and thereafter apply multivariable calc (or run an excel function) to correctly price financial instruments and develop investment strategies is great contextual background to then go forward and study market policy and legal regulation. I mean, there are only so many people out there that have both the microeconomic practical knowledge, and the macroeconomic law and admin policy/monetary and banking, etc. combination. I am just pointing out that if you have good macro and micro knowledge as a base, there is a lot that law and econ has to add to your ability to succeed.