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The University of Chicago Law School was founded in 1902 (by a coalition of donors led by John D. Rockefeller) as the graduate school of law at the University of Chicago and consistently ranks among the highest-rated law schools in the United States. The U.S. News & World Report ranks it fifth among U.S. law schools, and it is noted particularly for its influence on the economic analysis of law.
University president William Rainey Harper requested assistance from the faculty of Harvard Law School in establishing a law school at Chicago, and Joseph Henry Beale, then a professor at Harvard, was given a two-year leave of absence to serve as the first Dean of the law school. During that time Beale hired many of the first members of the law school faculty and left the fledgling school "one of the best in the country."
The Law School experienced a period of profound growth and expansion under the leadership of Dean Edward Hirsch Levi, AB 1932, (1945–1962). Levi later served as university Provost (1962–1968) and President (1968–1975), and then as United States Attorney General under Gerald Ford. During his time at the Law School, Levi brought world-renowned scholars to the faculty and supported the Committee on Social Thought graduate program.
The University of Chicago (U of C, UC, UChicago, or simply Chicago) is a private research university in Chicago, Illinois, USA. It was founded by the American Baptist Education Society with a donation from oil magnate and philanthropist John D. Rockefeller and incorporated in 1890. William Rainey Harper became the university's first president, in 1891, and the first classes were held in 1892. Entirely non-sectarian, Chicago has an international reputation for strong devotion to advanced academic scholarship and intellectualism and is affiliated with 49 Rhodes Scholars and 87 Nobel Prize laureates.
The University consists of the College of the University of Chicago, various graduate programs and interdisciplinary committees organized into four divisions, six professional schools, and a school of continuing education. The University enrolls approximately 5,000 students in the College and about 15,000 students overall.
In 2008, the University spent $423.7 million on scientific research. University of Chicago scholars have played a role in the development of the Chicago school of economics, the Chicago school of sociology, the law and economics movement in legal analysis, the Chicago school of literary criticism, the Chicago school of religion, the school of political science known as behavioralism, and the physics leading to the world's first man-made, self-sustaining nuclear reaction. The University is also home to the University of Chicago Press, the largest university press in the United States.
Chicago (i/ʃɪˈkɑːɡoʊ/ or /ʃɪˈkɔːɡoʊ/) is the largest city in the US state of Illinois and the third most populous city in the United States after New York City and Los Angeles. The city has around 2.7 million residents. Its metropolitan area, sometimes called "Chicagoland", is the third largest in the United States, with an estimated 9.8 million people. Chicago is the county seat of Cook County, though a small portion also extends into DuPage County.
Chicago was incorporated as a city in 1837, near a portage between the Great Lakes and the Mississippi River watershed. Today, Chicago is listed as an alpha+ global city by the Globalization and World Cities Research Network, and ranks seventh in the world on the 2012 Global Cities Index. The city retains its status as an international hub for finance, industry, telecommunications and infrastructure, with O'Hare International Airport being the second busiest airport in the world in terms of traffic movements. In 2008[update], the city hosted 45.6 million domestic and overseas visitors. Among metropolitan areas, Chicago has the 4th largest Gross Domestic Product (GDP) in the world, ranking just behind Tokyo, New York City, and Los Angeles. Chicago is one of the most important Worldwide Centers of Commerce and trade.
A law school (also known as a school of law or college of law) is an institution specializing in legal education.
The oldest civil law faculty in Canada offering law degrees was established in 1848 at McGill University in Montreal, and the oldest common law faculty in Canada offering law degrees was established in 1883 at Dalhousie University in Halifax. The typical law degree required to practice law in Canada is now the Juris Doctor, which requires previous university coursework and is similar to the first law degree in the United States, except there is some scholarly content in the coursework (such as an academic research paper required in most schools). The programs consist of three years, and have similar content in their mandatory first year courses. Beyond first year and the minimum requirements for graduation, course selection is elective with various concentrations such as business law, international law, natural resources law, criminal law, Aboriginal law, etc. Some schools, however, have not made the switch from LL.B. to the J.D. - one notable university that has not made the switch is McGill University.
Ronald Harry Coase (/ˈkoʊs/; born 29 December 1910) is a British-born, America-based economist and the Clifton R. Musser Professor Emeritus of Economics at the University of Chicago Law School. After studying with the University of London External Programme in 1927–29, Coase entered the London School of Economics, where he took courses with Arnold Plant. He received the Nobel Memorial Prize in Economics in 1991.
Coase is best known for two articles in particular: "The Nature of the Firm" (1937), which introduces the concept of transaction costs to explain the nature and limits of firms, and "The Problem of Social Cost" (1960), which suggests that well-defined property rights could overcome the problems of externalities (see Coase Theorem). Coase is also often referred to as the "father" of reform in the policy for allocation of the electromagnetic spectrum, based on his article "The Federal Communications Commission" (1959), where he criticizes spectrum licensing, suggesting property rights as a more efficient method of allocating spectrum to users. Additionally, Coase's transaction costs approach is currently influential in modern organizational economics, where it was reintroduced by Oliver E. Williamson.