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A Forensic economist is a person who performs economic damage evaluations and provides expert witness testimony for purposes of civil litigation.
Qualifications to testify in court as an expert in the field of forensic economics can vary greatly. Typically, a graduate degree in economics, business/finance or accounting is suffice, or having earned the title of Certified Public Accountant. Ultimately, the Rules of Evidence in the jurisdiction preciding over the civil case prevail. Most Rules of Evicence relating to the qualifications of an expert witness are based on the Federal Rules of Evidence; Rule 702, which states:
If scientific, technical, or other specialized knowledge will assist the trier of fact to understand the evidence or to determine a fact in issue, a witness qualified as an expert by knowledge, skill, experience, training, or education, may testify thereto in the form of an opinion or otherwise.
It is because of this and because of related case law (for example Supreme Court of the United States, JONES & LAUGHLIN STEEL CORP. v. PFEIFER, 462 U.S. 523, CERTIORARI TO THE UNITED STATES COURT OF APPEALS FOR THE THIRD CIRCUIT, Argued February 28, 1983 - Decided June 15, 1983), individuals with a bachelor's degree and/or a graduate degree in a related field can also qualify. One of the most common type of non-economist who testifies in the small-niche field of forensic economics is the Vocational Expert (a rehabilitation counselor or psychologist), another individual who is also versed in wages and benefits, earnings growth trends, and an injured person's ability to perform household services.
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Organizational Links
"Forensic economist"