This three course concentration is ideal for those seeking to understand and predict the success and failure of their own business as well as their competitors’ businesses, for those seeking to improve the performance of their business, and for individuals interested in the effect of government policy on corporate decision-making.
This class deals with firms' business plans and policies and how they change in response to various incentives and stimuli. We will discuss frameworks used to analyze and formulate business strategies. We will introduce tools and techniques for diagnosing a firm's competitive position, identifying managerial and organizational issues, evaluating plans of action, and anticipating the consequences of alternative decisions.
ECO 555 or 505
STRATEGIC DECISION MAKING AND GAME THEORY
The goal of this course is to introduce students to game-theoretic way of thinking and show its usefulness in understanding various problems arising in business, economics, as well as many other disciplines and every day life. The tools used in game theory are analytical in nature, and hence the building blocks of the course will necessarily draw on analytics. The instructor's job will be to make these analytics accessible to students without using too much mathematics. Once students grasp these tools, a variety of applications will be presented, discussed, and illustrated using experiments. These applications will be mainly in the fields of business and economics, but will often span to other areas like law, politics, biology, and ethics. In this way, students will get a broad perspective of the multiple applications of game-theoretic reasoning.
ECO 555 or 505
Content and format of this course are variable. An in-depth study of current issues in economics. Subject matter will be indicated in class schedule.
BUSINESS REGULATION AND ANTITRUST
This course examines the rationale for and efficiency of government regulation of business in the United States. Various forms of government regulation are evaluated to determine their effectiveness in promoting market efficiency. We will emphasize the importance of market structure and industrial performance, including the strategic interaction of firms. We will examine the behavior of individual markets in some detail, focusing on cost analysis, the determinants of market demand, investment behavior, market power, and the implications of government regulatory behavior.
ECO 555 or 505
MICROECONOMICS OF MARKET ORGANIZATION
Imperfectly competitive markets are more common than perfectly competitive markets. This course is about the effects of imperfectly competitive market structure on the organization, pricing, product choice, and entry of firms. We will study the acquisition and use of market power, strategic competition across firms, private sector sources of market failure, and the role of governent competition policy. Factor markets will also be discussed.
ECO 505 or ECO 555 is a prerequisite for this class.