NERA Economic Consulting at a Glance


  • “Academic environment”
  • “Intellectually challenging, analytical work”
  • “Early responsibility”


  • “Little opportunity for growth”
  • “Promotion ceiling in terms of advanced degrees”
  • “Unpredictable hours”

The Buzz

  • "Great at what they do."
  • "Good technical skills and expertise.'
  • "Top for economics."

About NERA Economic Consulting

NERA Economic Consulting makes its buck off understanding what many people can't: economics. The global firm provides economic advice, analysis, expert testimony, and regulatory insight for clients throughout North America, Latin America, Europe, and the Asia-Pacific region. Employing more than 500 professionals, including 425 economists, the firm has been creating strategies, studies, reports, expert testimony, and policy recommendations for government authorities and the world's leading law firms and corporations for more than half a century. NERA specializes in bringing academic analysis and rigor, objectivity, and real-world industry experience to bear on issues arising from competition, regulation, public policy, strategy, finance, and litigation. The firm uses hard economic data to make its case, drawing on its professionals' expertise in statistics, econometrics, game theory, mathematics, and computer science.

A big umbrella

NERA was founded in 1961 as National Economic Research Associates by Dr. Jules Joskow-a professor of economics-and Dr. Irwin Stelzer, an economist. It was the first consulting firm dedicated to methodically applying rigorous microeconomic thought to litigation and regulatory matters. In 1983, global professional services firm Marsh & McLennan acquired the firm, with Joskow staying on with the company under Marsh & McLennan's direction and Stelzer acting as president.  Today, NERA exists as a business unit of Marsh & McLennan's subsidiary the Oliver Wyman Group, operating alongside other Marsh & McLennan professional services units, such as risk and reinsurance specialist Guy Carpenter, insurance broker and risk adviser Marsh, and human resources solutions provider Mercer.

NERA know-how

Among NERA's many service offerings, it is often called on for its antitrust capabilities. Respected and experienced in the world of antitrust and competition authorities, clients depend on NERA professionals for economic analysis and testimony on business issues related to mergers and acquisitions, antitrust litigation, and competition policy. Consultants are able to look at economic matters arising in antitrust cases and to help clients deal with issues such as market definition and power, market structure and entry conditions, pricing, profitability, and damages.

When companies are facing securities litigation, commercial disputes, and class actions, or are on the receiving end of enforcement actions by the government regulatory agencies across the globe clients turn to NERA for advice and clarity. NERA is widely recognized as a leading firm in the economics of securities, finance, and commerce. Their consultants have provided expert testimony and consulted in the areas of in securities and commercial disputes, market efficiency and trading analysis, valuations of fixed-income and derivative products, and risk management. NERA also provides expert advice on commercial litigation and damages. NERA experts in this area provide analyses of clients' competition, regulatory environment, and management decisions; cost, pricing, and product strategies; and risk management, business valuation, and dispute avoidance and resolution, among other services.

NERA's Energy, Environment, Communications & Infrastructure (EECI) Practice is on the cutting edge of the information technology age, responding to the marriage of energy and environmental issues with technological advancement in the telecom/internet arena and the infrastructure required to support it. Our forward-thinking group has identified specific market needs and has created an innovative offering of services. Each component of NERA's EECI practice rests on four pillars of expertise: Litigation, Regulatory, Transactional, and Advisory. Our experts are uniquely situated to offer a cross-industry perspective to the wide range of challenges our clients encounter.

Publish and be … recognized

Not surprisingly, for a company boasting numerous academics, NERA's consultants are constantly publishing their findings in formats that range from journal and magazine articles to white papers and books. NERA consultants are often interviewed and their expertise sought by publications around the world. In addition, NERA experts are often requested to participate as speakers, panelists and moderators in a broad range of conferences addressing industry trends, legal cases, and newsworthy and topical issues."


Congressional Research Service report cites Dr. Sharon Brown-Hruska on BSA/AML enforcement

05 February 2018

Washington, DC-A Congressional Research Service (CRS) report on the Bank Secrecy Act/Anti-Money Laundering (BSA/AML) enforcement, published 12 January 2018 and presented to brief the US Congress, extensively cites a 2016 report by NERA Managing Director Dr. Sharon Brown-Hruska titled "Developments in Bank Secrecy Act and Anti-Money Laundering Enforcement and Litigation." The CRS report, "Trends in Bank Secrecy Act/Anti-Money Laundering Enforcement," quotes Dr. Brown-Hruska's analysis of the increases in penalty frequency and size for BSA/AML penalties

NERA Welcomes Three New Antitrust and Competition Economists

17 January 2018

NERA is pleased to announce that three seasoned antitrust and competition economists have joined the firm. Tom Hoehn joins as an Affiliated Consultant based in Berlin; Dr. Anca Cojoc is the newest Senior Consultant and will work out of the London office; and Dr. Jeffrey Prince, Professor and Chairperson of Business Economics and Public Policy at the Kelley School of Business at Indiana University, enters as an Affiliated Academic. Collectively, Mr. Hoehn, Dr. Cojoc, and Dr. Prince bring nearly five decades of experience in economic research and analysis, consultations during regulatory disputes, and expert testimony to bear for NERA's clients.

NERA Economic Consulting Opens Office in Miami, Florida

14 November 2017

New York -- NERA Economic Consulting, a leading global provider of economic analysis in business, legal, and regulatory matters, is pleased to announce the opening of its latest office in Miami, Florida. NERA's Miami office will strengthen the firm's ability to provide consulting services in Florida, Mexico, Latin America, and the Caribbean.

NERA Auctions Analysis Cited in US Department of Energy Report

05 October 2017

 The US Department of Energy (DOE) recently released its latest "Offshore Wind Technologies Market Report" on the state of the offshore wind industry. The report analyzes topics ranging from market developments to changes in technology such as floating turbines, pricing trends, and financing costs.

 Energy Economist Joins NERA Economic Consulting


Julie M. Carey  joined the firm's Energy, Environment, Communications & Infrastructure Practice as a Director. Ms. Carey is an energy economist who regularly serves as an expert witness in energy-related commercial and regulatory disputes, as well as in international arbitrations. She has more than 20 years of experience addressing economic issues in power, oil and gas, coal, renewables, pipelines, and railroad sectors. Ms. Carey has authored expert reports and provided expert testimony on energy industry matters in US courts, before international arbitration panels, and before the Federal Energy Regulatory Commission (FERC), National Energy Board, and many other regulatory agencies. Ms. Carey is an Adjunct Professor at Georgetown University, where she teaches energy economics in the graduate economics program. She earned her MA in economics from Pennsylvania State University and BA in economics from Allegheny College. Ms. Carey frequently speaks at energy industry conferences and provides insights on energy market dynamics and economic issues.

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NERA Economic Consulting

1166 Avenue of the Americas
24th Floor
New York, NY 10036
Phone: (212) 345-3000
Fax: (212) 345-4650


  • Employer Type: Subsidiary
  • Stock Symbol: MMC
  • Stock Exchange: NYSE
  • President: Dr. Lawrence Wu
  • 2018 Employees: 500

  • Major Departments & Practices
    Antitrust and Competition
    Bankruptcy and Financial Distress Litigation
    Class Actions and Class Certification
    Commercial Litigation and Damages
    Communications, Media, and Internet
    Consumer Protection in Financial Services
    Corporate Governance and Compliance
    Environmental Economics
    Financial Institutions and Banking
    Financial Risk Management
    Intellectual Property
    International Arbitration
    Labor and Employment
    Life Sciences
    Mass Torts and Product Liability
    Postal Services
    Radio Spectrum
    Regulatory Economics
    Risk Advisory Services
    Securities and Finance
    Statistical Sampling and Analysis
    Survey Research, Design, and Analysis
    Transfer Pricing
    White Collar, Investigations, and Enforcement

Major Office Locations

  • New York, NY (HQ)
    25+ offices in 14 countries