Where is Emulator settings is Android Studio 1.5.1?
Hm... I need to downgrade to version 1.4:


http://tools.android.com/download/studio/stable


or wait for fix to:


https://code.google.com/p/android/issues/detail?id=195031
https://stackoverflow.com/questions/33909062/no-emulator-tab-in-edit-configurations-in-android-studio