Stephen G. Marks

Professor of Law

BA magna cum laude, University of California-Irvine
JD and PhD in Economics, University of California-Berkeley

Areas of Interest
Corporate, Business & Transactional Law, Economics & Law
Contact
Biography

Stephen Marks has been a distinguished member of the Boston University community for many years. He began his teaching career in 1981 at the University’s School of Management, where he taught courses in banking, finance, investments, corporations, economics and decision making. Since joining the School of Law faculty in 1988, Professor Marks has taught courses in corporations, securities regulation and law and economics. “I enjoy these subjects because they are so relevant for students,” he says. “In every practice area, lawyers come face-to-face with corporations, for example. And economics provides students with a powerful and rigorous tool for analyzing law and legal institutions.”

Co-author of the textbook Managerial Economics (fourth edition), published in 2002, Professor Marks’ work has appeared widely in journals of law and economics. In collaboration with his School of Law colleague Alan Feld, he wrote the 1997 article “Legal Differences Without Economic Distinctions: Points, Penalties, and the Market for Mortgages,” for the Boston University Law Review. In 1996, he co-authored “Teaching Macroeconomics by the Case Method” for the Journal of Economic Education. He also authored the chapter “The Separation of Ownership and Control” for the 1998 Encyclopedia of Law and Economics.

Professor Marks’ home life is perhaps equally as distinguished. He and his wife are home schooling their children and, as students of Spanish themselves, raising them to be bilingual. Professor Marks is active in the peace and justice movement, and also dabbles in guitar, saxophone and violin.

Publications
  1. Stephen Marks & William F. Samuelson, Managerial Economics, 8th ed., Wiley (2015).
    Publisher
  2. Stephen Marks & Jeffrey Marks, Becoming a Bilingual Family: Help Your Kids Learn Spanish (and Learn Spanish Yourself in the Process), University of Texas Press (2013).
    Publisher
  3. Stephen Marks & William F. Samuelson, Managerial Economics, 7th ed., John Wiley (2011).
  4. Stephen Marks, "Valuing the Future: Intergenerational Discounting, Its Problems, and a Modest Proposal," 41:7 Environmental Law Reporter 10615 (2011).
    Westlaw | SSRN
  5. Stephen Marks & William F. Samuelson, Managerial Economics, 6th ed., Wiley (2010).
  6. Stephen Marks, "Reply & Response: A Comment on the Relationship Between Judicial Salary and Judicial Quality," 88 Boston University Law Review 843 (2008).
    Lexis Advance | HeinOnline (BU) | HeinOnline
  7. Stephen Marks & William F. Samuelson, Managerial Economics, 5th ed., Wiley (2006).
  8. Stephen Marks & William F. Samuelson, Managerial Economics, 4th ed., Wiley (2003).
  9. Stephen Marks, "The Separation of Ownership and Control," in Encyclopedia of Law and Economics 692, B. Bouckaert & Gerrit De Geest, eds., Edward Elgar Publishing Limited (2000).
  10. Stephen Marks & William F. Samuelson, Managerial Economics, 3d ed., Dryden Press (1999).
  11. Stephen Marks, "Legal Differences Without Economic Distinctions: Points, Penalties, and the Market for Mortgages," 77 Boston University Law Review 405 (1997).
    Lexis Advance | HeinOnline (BU) | HeinOnline
  12. Stephen Marks & Michael Rukstad, "Teaching Macroeconomics by the Case Method," 27 Journal of Economic Education 139 (1996).
  13. Stephen Marks, "Utility and Community: Musings on the Tort-Crime Distinction," 76 Boston University Law Review 215 (1996).
    Lexis Advance | HeinOnline (BU) | HeinOnline
  14. Stephen Marks & William F. Samuelson, Managerial Economics, 2d ed., Dryden Press (1995).
  15. Stephen Marks, "Discontinuities, Causation, and Grady's Uncertainty Theorem," 23 Journal of Legal Studies 287 (1994).
    HeinOnline (BU) | HeinOnline
  16. Stephen Marks & William F. Samuelson, Managerial Economics, Dryden Press (1992).
  17. Stephen Marks, "Of Posin and Pigs, of Coase and Cost," 38 Wayne Law Review 47 (1991).
    HeinOnline (BU) | HeinOnline
  18. Stephen Marks & Alex Kane, "The Delivery of Market Timing Services: Newsletters Versus Market Timing Funds," 1 Journal of Financial Intermediation 150 (1990).
    SSRN
  19. Stephen Marks & Alex Kane, "Performance Evaluation of Market Timers: Theory and Evidence," 23 Journal of Financial and Quantitative Analysis 45 (1988).
    SSRN
  20. Stephen Marks & N. Kulatilaka, "The Strategic Value of Flexibility: Reducing the Ability to Compromise," 78 American Economic Review 574 (1988).
  21. Stephen Marks & Alex Kane, "The Rocking-Horse Analyst," 13 Journal of Portfolio Management 32 (Spring 1987).
  22. Stephen Marks, "Negligence, Causation, and Information," 31 McGill Law Journal 128 (1985).
    HeinOnline (BU) | HeinOnline
  23. Stephen Marks, "Tax Income Again and Again," The Wall Street Journal __ (June 24, 1985).
  24. Stephen Marks & N. Kulatilaka, "The Value of Flexibility in a Certain World," in Proceedings of the Institut National de Recherche en Informatique et en Automatique - Conference on Production Systems , (Apr. 1985).
  25. Stephen Marks & R. Cooter, "Bargaining in the Shadow of the Law: A Testable Model for Strategic Behavior," 11 Journal of Legal Studies 225 (1982).
Courses

4 credits

Marks, Tung and Walker: Course about the legal structure and characteristics of business corporations. Topics include the promotion and formation of corporations; the distribution of power between management and shareholders; the limitations on management powers imposed by state law fiduciary duties and federal securities laws; shareholder derivative suits; capital structure and financing of corporations; and fundamental changes in corporate structure, such as mergers and sales of assets. The course serves as a prerequisite to advanced courses. PREREQUISITE: Business Fundamentals. GRADING NOTICE: The CR/NC/H option is only offered in Professor Marks's section. Ellias: This course is an introduction to the basic legal rules and principles governing corporations. We examine three basic problems: (1) conflicts between a firm's managers and its owners (the shareholders); (2) conflicts between shareholders; and (3) conflicts between shareholders and creditors. We examine the costs associated with these conflicts and how markets, legal rules, and contracts might reduce them. This is a foundational law school course that provides the fundamental knowledge of business and finance needed for upper level classes. No prior knowledge of business or finance is expected. PREREQUISITE: Business Fundamentals. GRADING NOTICE: This class does not offer the CR/NC/H option.

FALL 2016: LAW JD 816 A1 , Sep 6th to Dec 8th 2016
Days Start End Credits Instructors Bldg Room
Tue,Thu 2:10 pm 4:10 pm 4 Stephen G. Marks LAW 103
FALL 2016: LAW JD 816 W1 , Sep 7th to Dec 7th 2016
Days Start End Credits Instructors Bldg Room
Mon,Wed 8:30 am 10:30 am 4 David I. Walker LAW 103
SPRG 2017: LAW JD 816 M1 , Jan 18th to Apr 26th 2017
Days Start End Credits Instructors Bldg Room
Mon,Wed 10:40 am 12:40 pm 4 Stephen G. Marks LAW 103
FALL 2017: LAW JD 816 A1 , Sep 6th to Dec 6th 2017
Days Start End Credits Instructors Bldg Room
Mon,Wed 2:10 pm 4:10 pm 4 Frederick Tung LAW 414
FALL 2017: LAW JD 816 M1 , Sep 5th to Dec 7th 2017
Days Start End Credits Instructors Bldg Room
Tue,Thu 2:10 pm 4:10 pm 4 Stephen G. Marks LAW 103
SPRG 2018: LAW JD 816 E1 , Jan 16th to Apr 24th 2018
Days Start End Credits Instructors Bldg Room
Tue,Thu 8:30 am 10:30 am 4 Staff
SPRG 2018: LAW JD 816 W1 , Jan 17th to Apr 25th 2018
Days Start End Credits Instructors Bldg Room
Mon,Wed 10:40 am 12:40 pm 4 David I. Walker

4 credits

Course about the legal structure and characteristics of business corporations. Topics include the promotion and formation of corporations; the distribution of power between management and shareholders; the limitations on management powers imposed by state law fiduciary duties and federal securities laws; shareholder derivative suits; capital structure and financing of corporations; and fundamental changes in corporate structure, such as mergers and sales of assets. The course serves as a PREREQUISITE to advanced courses. GRADING NOTICE: This class will not offer the CR/NC/H option.

FALL 2016: LAW JD 815 A1 , Sep 6th to Dec 8th 2016
Days Start End Credits Instructors Bldg Room
Tue,Thu 10:40 am 12:40 pm 4 Stephen G. Marks LAW 414
FALL 2017: LAW JD 815 A1 , Sep 6th to Dec 6th 2017
Days Start End Credits Instructors Bldg Room
Mon,Wed 10:40 am 12:40 pm 4 Gary S. Lawson LAW 605

2 credits

This CLASS IS RESTRICTED to students who have received permission from the Office of Experiential Education to enroll. This is the companion academic component for students enrolled in the Independent Proposal Externship: Fieldwork course. Students work with a faculty supervisor in writing a 15-20 page research paper related to the subject area of the placement, and submitting seven 4-6 page reflective journals. NOTE: Students who enroll in this component of the externship may count the credits towards the 6 credit Experiential Learning requirement or the Upper-class writing requirement. It may not be used to satisfy more than one requirement. COREQUISITE: INDEPENDENT PROPOSAL EXTERNSHIP: FIELDWORK (LAW JD 709).

FALL 2016: LAW JD 710 A1 , Sep 6th to Dec 8th 2016
Days Start End Credits Instructors Bldg Room
ARR TBD TBD 2 Stephen G. Marks
SPRG 2017: LAW JD 710 A1 , Jan 17th to Apr 26th 2017
Days Start End Credits Instructors Bldg Room
ARR TBD TBD 2 Brian A. Wilson
FALL 2017: LAW JD 710 A1 , Sep 5th to Dec 7th 2017
Days Start End Credits Instructors Bldg Room
ARR TBD TBD 2 Nancy J. Moore ROOM
SPRG 2018: LAW JD 710 A1 , Jan 16th to Apr 25th 2018
Days Start End Credits Instructors Bldg Room
ARR TBD TBD 2 Staff

3 credits

This course will cover the principal legal, tax and business issues of mergers and acquisitions. PREREQUISITE: Corporations or permission of instructor.

SPRG 2017: LAW JD 988 A1 , Jan 18th to Apr 26th 2017
Days Start End Credits Instructors Bldg Room
Mon,Wed 9:00 am 10:25 am 3 Stephen G. Marks LAW 103
FALL 2017: LAW JD 988 A1 , Sep 5th to Dec 7th 2017
Days Start End Credits Instructors Bldg Room
Tue,Thu 11:00 am 12:25 pm 3 Stephen G. Marks LAW 605
SPRG 2018: LAW JD 988 B1 , Jan 16th to Apr 24th 2018
Days Start End Credits Instructors Bldg Room
Tue,Thu 11:00 am 12:30 pm 3 Staff
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