Course Descriptions
ECONOMICS (ECON)
Professors: Mario L. Belotti, William F. Donnelly, S.J., Alexander J. Field, John M. Heineke, William A. Sundstrom
Associate Professors: Henry Demmert, Carolyn L. Evans, Linda Kamas, Michael Kevane (Chair), Kris J. Mitchener, Helen Popper, Dongsoo Shin
Assistant Professor: Homa Zarghamee
W. M. Keck Foundation Professor: Mario L. Belotti
Michel and Mary Orradre Professor: Alexander J. Field
Note: The following course is required of all MBA students. Please see Waiver Rules (page 35).
ECON 405. Macroeconomic Theory and Policy
Study of what determines the level and rate of growth of output, income, employment and prices, and the level of interest and foreign exchange rates. Designed to prepare decision-makers to understand how an economy functions in the aggregate and to help them interpret, analyze, and operate within a changing macroeconomic environment. Prerequisite: OMIS 353. (3 units)
Note: The following course is required of all MBA students.
ECON 401. Economics for Business Decisions
Managerial economics. Demand, cost, production, and pricing at the level of the individual firm or industry. Market structure and the regulatory environment. Emphasis on applications as well as theory. Prerequisite: OMIS 353. Must be completed within the student’s first three quarters of residence. (3 units)
Note: The following courses are offered as electives and/or as part of a concentration.
ECON 422. Topics in Profit Maximizing Pricing
Examines a number of pricing and planning topics, including new product planning, determining relevant costs for the pricing decision, financial analysis for pricing, and anticipating and influencing competitor’s pricing decisions. Other topics that may be covered include strategies for pricing in segmented markets, pricing product lines, and pricing products with learning curves and short life cycles. Class will be run as a seminar using econometric and statistical modeling, case studies, and student research projects. Cross-listed as MKTG 588. Credit will not be given for both. Prerequisites: ECON 401, MKTG 551, differential calculus, and a working knowledge of hypothesis testing and regression analysis. (3 units)
ECON 424. Economics of Decision Making Under Uncertainty
Examines managerial decision-making from the behavioral point of view. Identifies the normatively “correct” decision in a number of specific decision problems; compares with the actual decisions most managers make. Discusses actual decisions and the nature and frequency of biases, as well as techniques for eliminating bias to improve the quality of decision making. Prerequisite: ECON 401. (3 units)
ECON 430. Game Theory and Strategic Behavior
Theoretical concepts and tools for analyzing issues in the business environment such as conflict, bargaining, pretending and shirking in organizations and markets, agenda construction, and strategic commitment. Game theoretical topics such as Nash-equilibrium, Subgame perfection, Bayesian Nash-equilibrium, Harsanyi transformation, commitment, and Perfect Bayesian Equilibrium will be discussed. Prerequisite: ECON 401. (3 units)
ECON 432. International Trade
The application of principles and techniques of economic analysis to patterns of foreign trade, foreign investment and the national economy, international agreements and institutions, and environmental and social effects of trade. Covers theory of comparative advantage, distributional issues relating to trade, political economy of trade protection and trade agreements, and empirical issues in applied trade analysis. Lectures, discussions, and short papers on current policy issues. Prerequisites: ECON 401 and ECON 405. (3 units)
ECON 434. Money and the Economy
The financial system as a whole. The basic determinants of the supply of and demand for loanable funds, the manner in which funds are exchanged in the money and capital markets, the influence of demand and supply factors on interest rates, the impact of changes in interest rates, money supply, and loanable funds on the level of economic activity. Prerequisite: ECON 405. (3 units)
ECON 466. International Monetary and Financial Relations
In-depth examination of the functioning of the international monetary system and international financial arrangements with emphasis on policy towards exchange rates and balance of payments crises in emerging markets. Foreign exchange markets, balance of payments, international liquidity, central bank policy and international regulatory institutions, and macroeconomic modeling. Prerequisite: ECON 405. (3 units)
ECON 696. Experimental Course
Covers special topics; offered on an occasional basis. (3 units)
ECON 852. Managerial Economics for Business Decisions
Explores microeconomic theories used for managerial decisions. Discusses the economic behavior of individuals and firms to understand how their interactions in markets affect managerial decisions. Concepts of market, price elasticity, theory of consumer choice, and both intra-firm and inter-firm strategic interactions will be discussed using various analytical tools. Open to WAMBA program students only. (3 units)
ECON 857. Macroeconomics
Study of what determines the level and rate of growth of economic output, income, employment and prices, and the level of interest and foreign exchange rates. Designed to prepare decision-makers to understand how an economy functions in the aggregate, and to help them interpret, analyze, and operate within a changing macroeconomic environment. Open to WAMBA program students only. (3 units)
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