Spring 2009
Click here to email the MBA advisor.
Syllabi are available in Adobe PDF format - DOWNLOAD ADOBE PDF READER
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.
Course Syllabus
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 761: Risk Analysis & Environmental Management
(Also listed as BPUB 261/961; OPIM 261/761; ESE 567)
Prerequisites: None, but microeconomics helpful
This course is designed to introduce students to the complexities of
making decisions about threats to human health and the environment when
people's perceptions of risks and their decision-making processes differ
from expert views. Recognizing the limitations of individuals in
processing information the course explores the role of techniques such
as decision analysis, cost-benefit analysis, risk assessment and risk
perception in structuring risk-management decisions. We will also
examine policy tools such as risk communication, incentive systems,
third party inspection, insurance and regulation in different problem
contexts.
The problem contexts for studying the interactions between analysis,
perceptions, and communication will include risk-induced stigmatization
of products (e.g. alar, British beef), places (e.g. Love Canal), and
technologies (e.g. nuclear power); the siting of noxious facilities,
radon, managing catastrophic risks including those from terrorism. A
course project will enable students to apply the concepts discussed in
the course to a concrete problem.
Professor Howard Kunreuther
MW 10:30-12:00
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 777: Cost Benefit Analysis
(Also listed as BPUB204; BPUB 960)
Prerequisites: Microeconomics.
The principle tool for project and policy evaluation in the public sector. For government, whose “products” are rarely sold, the valuation of costs and benefits by means alternative to market prices is necessary. It is the counterpart to cost accounting in the private firms and provides guidance to avoiding wasteful projects and undertaking those that are worthwhile. Given government regulations, cost benefit evaluations are critical for many private sector activities. Real estate developers, manufacturing firms, employers of all types are required to provide evaluations of environments impacts and of urban impacts for their proposed projects. They too must engage in cost benefit analysis, in the valuation of social benefits and costs. Government analysts, consultants, and private firms regularly carry out cost benefit analyses for major investments-bridges, roads, transit systems, convention centers, dams – as well as for regulatory activities – OSHA workplace safety regulations and the Clean Air Act are two important examples.
Professor Richard Voith MW 1:30-3PM