Economic consulting is the practice of providing advanced economic, financial, and statistical analysis for use in a litigation environment. Law firms, state institutions, and other organizations may rely on economic consultants to produce research, analyses, reports, and testimony to be used in trial.
Economic consulting consists of providing economic expertise in a variety of areas, including but not limited to antitrust; bankruptcy; energy; finance; healthcare; insurance; intellectual property; labor and employment; life sciences; media and entertainment; and securities.[1][2][3][4][5][6] Economic consulting firms often provide the support team when a client hires an economic expert.[7] The expert—typically a professor or a senior member of an economic consulting firm—will provide economic consulting by, for example, analyzing competitive effects, calculating damages, and testifying to one’s expert opinion before a judge, jury, arbiter, or government enforcement agency.[7][8]