Spring 2009
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BPUB/LGST 621: The Governmental and Legal Environment of Business
Prerequisites: None
This course
provides students with a basic understanding of how the law and the
political process affect business strategy and decision making. Topics
include how market infrastructure (contracts, intellectual property,
corruption, the press) affect business strategy, and how businesses deal
with challenges involving government agencies or legislation. The course
presents broadly applicable frameworks that will help students to manage
and advise clients more effectively in a world heavily influenced by
legal concerns and governmental forces.
BPUB 720: Behavioral Economics And Prediction Betting Markets
Prerequisites: None; no technical background is assumed
This class
considers an intriguing – and growing – set of non-traditional markets,
including trading (or gambling) on the outcome of sporting events,
elections, political risks, corporate outcomes, public policy and
economic statistics. We will explore these markets, drawing on insights
from economics and psychology, and highlighting the parallels between
these markets and other existing markets. We will examine the potential
uses of these markets in the business and public policy domains.
Importantly, the success of these markets depends on whether these
markets yield efficient forecasts, which in turn depends on factors such
as market design, and the biases exhibited by individual traders. We
then turn to discussing recent advances in behavioral economics and
attempt to apply psychologically-grounded theories of information
processing to a particular set of prediction markets: sports betting.
Assessing potentially profitable trading strategies with a critical eye,
we will discuss not only investment opportunities, but what these
findings reveal about both human psychology and the operation of
markets.
Professor Justin Wolfers MW 3-4:30PM
Course Syllabus
BPUB 770: Political Economy of the Public Sector
Prerequisites: A basic understanding of microeconomics
This course explores the role of government in the economy. We will first consider the economic rationale for government intervention in the economy-in what situations is government intervention in private markets warranted? We will then analyze the successes, failures, and compromises inherent in government interventions in a variety of areas, such: the environment, legalizing marijuana, research and development, piracy and intellectual property, merger policy, financial disclosure, banking, airlines, media, social security, terrorism, bankruptcy, education, health care, labor unions, employment regulation, and tax policy.
Professor Betsey Stevenson MW 3-4:30 PM
BPUB 789: Nations, Politics, and Markets
Prerequisites: FNCE 602.
The course addresses the interaction of economic and political policy and the lessons to be derived for businesses and international organizations. The course will examine the political factors underlying economic policy in emerging market economies including policies toward banking crises, privatization of state owned enterprises, macroeconomic problems, reform of the international trade system, and corruption. The role of international agencies such as the World Bank and the International Monetary Fund will be analyzed. Intensive attention will be given to government and international responses to the recent financial crises in Asia and Latin America and the problems encountered in Eastern Europe including Russia as well as China.
Professor Howard Pack MW 1:30-3 PM