Regulating by the Numbers: Benefit-Cost Analysis and OIRA Review – With Congress perennially at a virtual standstill, most new federal legal requirements come from administrative agencies. And these regulations touch on some of our most fundamental values and challenges: human health, climate change, societal inequities, and so on. Over decades, agencies have developed standardized ways of incorporating these values, with benefit-cost analysis (“BCA”) and review by the Office of Information and Regulatory Affairs (“OIRA”) often taking center stage. This seminar will zoom in on these vital steps in the regulatory process, helping unlock a critical skillset for regulatory advocates.
Topics will include the legal nuts and bolts of agency BCA and OIRA review, BCA’s philosophical and economic underpinnings, deep dives on particular issues (valuing lives, climate-change costs, distributional considerations, future people, the environment, nonhuman animals, etc.), and alternative decisionmaking frameworks. We will touch on current events and live controversies in this space. Grades will be based on class participation, short reactions to the readings, and a semester-long term paper taking a stance on one of the technical or ethical issues raised in class. Previous or concurrent exposure to administrative law (e.g., taking Legislation and Regulation or Administrative Law) is recommended but not strictly required, and no economics background is expected.