From the Fall 2004 issue of Nexus.
Several years ago, a $1 million dollar endowment created the Chair in Law and Economics, honouring one the founders of law and economics study, Professor Michael Trebilcock. Three law graduates - David Macdonald, James Hinds, and Murray Edwards - who were inspired by Michael and motivated by the economics courses taught at law school, were among the donors to this important gift.
After graduation in 1981, David Macdonald went on to establish a notable business career. He vividly remembers being a student in Professor Trebilcock's Law and Economics course. The class was small, composed of only a dozen students. "It was there that I learned the principles for deriving a sense of underlying order in legal discipline," Macdonald recalls. "Michael was exceptionally gifted in presenting the [interdisciplinary] linkages in a way that resonated and was easy to understand and absorb. I found him very intelligent, committed and engaging."
James D. Hinds (J.D., 1983) left law school and headed straight into business. He is grateful for the knowledge of economics that he acquired during his years at U of T. "Law gives you an organizational matrix to understand the economy. I learned to see how institutions relate to one another. The bottom line is that in the corporate world, you must understand how economics underlies business in order to succeed."
Another philanthropic alumnus, N. Murray Edwards '83, has gone on to become one of Canada's leading business figures. After graduating with honours, Edwards began his career as a partner at Duckworth & Palmer in Calgary before launching into business full-time. As founder and President of Edco Financial Holdings Ltd, he developed a reputation as a guru in the oil and gas business. An unpretentious supporter of Calgary business and charitable initiatives, Edwards is currently Co- Owner of the Calgary Flames Hockey Club and Director of the Business Development Bank of Canada. In 2003, he established the N. Murray Edwards Market Information Centre in the Haskayne School of Business, which provides realtime financial information for business students and faculty. He was recently named one of "50 Canadians to Watch" by Maclean's Magazine.
Under Professor Trebilcock's direction, the Law and Economics Program, the only of its kind in the country, allows for critical analysis not only in traditional economics-oriented fields such as antitrust and corporate law but also areas at the very heart of our legal system: torts, property, contracts, domestic relations, procedure and constitutional law. The endowed Chair ensures that the Program continues to shape the development of public policy and legal education in this important area of study and to inspire students to think broadly about their career aspirations. "I'm a real believer in supporting world class excellence," says Macdonald. "The University of Toronto is an institution that is committed to excellence and Michael is not just committed to it, he is it."
See also the Law and Economics Program web page.
