Courses
Business Economics and Public Policy
- BUS–G 100 Business in the Information Age (3 cr.) This course is designed to provide students with an introductory survey of business practices, public policy, and economic information. Major topics include understanding the U.S. economic system, wealth creation, business structures, business ethics, entrepreneurship, key business disciplines, the role of government and the current economic environment both domestic and global.
- BUS–G 202 Business, Government and Society (2 cr.) P: ECON-E 201 or ECON-S 201 with a grade of C or better. G202 is an I-Core prerequisite that is required of all business majors. It is also part of the sophomore Global Foundations Core. This course is intended to make students aware of the broad range of ways in which the non-market environment—especially government policy—affects business, and gain an understanding of the process through which businesses and other special interest groups create and change the rules of the game under which they function. In today’s economy, successful business strategy entails more than outmaneuvering rival companies; managers must also devise strategies to cope with the global, non-market forces that confront businesses and other forms of organization. Managers need to understand how public policy is made and how special interest groups, including their own businesses, can affect the policy process. This is true both for the CEO of a multinational corporation dealing with multiple governments and the administrator for a local partnership trying to deal with city officials.
- BUS-G 271 Global Business Analysis (1.5 cr., 8 wks) P: D270 with C. Students apply the country analysis skills, learned in BUS-D 270 Global Business Foundations, to a specific country or region. Many Kelley departments offer versions of this course. This means that, while all versions focus on business analysis, each could emphasize a different field of business and/or region of the world.
- Sample Topic for G271: An Introduction to European Economic Integration. For the last twenty years, the European Union (E.U.) has been the most developed model of regional integration. Despite the recent setbacks caused by the Eurozone crisis, the European Union remains a vibrant and evolving economic and political entity. This course offers insights into various aspects of the European Union. The first part of the course provides a brief overview of the origins and evolution of the E.U. and some of its most important institutions. The second part introduces some of the most important micro- and macro-economic policies that continue to shape the integration process. The class requires students to prepare and present a report (using the knowledge acquired in BUS-D270) that focuses on the impact of various common policies on certain businesses or economic sectors.
- BUS–G 300 Introduction to Managerial Economics and Strategy (3 cr.) Only for non-business majors. Managerial Economics is a course which illustrates how economic principles can be applied to making effective and profitable management decisions for a company. Within the course, students also learn how to think strategically and apply the fundamentals of game theory when they are making business decisions. The goal, then, of this course is to expose the student to effective managerial decision-making. For a student interested in any management type position, this course will provide a fundamental basis for further study. Managerial economics is also a course that will serve the student throughout daily life. Not open to business majors. No credit toward a degree in business. Students may not receive credit for both G300 and G304.
- BUS–G 303 Game Theory for Business Strategy (3 cr.) P: ECON-E 201 or ECON-S 201. Game theory, a traditional tool for academic economists, has become increasingly popular in the business world and is an essential tool of economic consultants. A major in Business Economics and Public Policy must have more than a rudimentary knowledge of Game Theory. Managerial decisions are not static and cannot be made in isolation. A manager must take into account and react to the “moves” of rival firms, government, and his or her subordinates and superiors within the company. Game theory is designed for the study of these types of interactions. The ultimate aim of the course is to strengthen your ability to think strategically in business situations, rather than to teach you facts or theories. To achieve this aim, we iterate between theory and practice. We use both formal case studies and real world examples to sharpen our strategic thinking skills.
- BUS–G 304 Managerial Economics (3 cr.) P: ECON-E 201 or ECON-S 201 with a grade of C or better. Only for business majors; non-majors should take G300. The main theme in the course is the application of formal analysis to managerial decisions in a variety of settings. We begin by using optimization theory to analyze the classical supply and demand model of large markets, in which firms make production decisions based on a market price that they cannot affect. Then, we move on to markets with fewer firms, using game-theoretic tools to study managerial decisions in an environment where those decisions impact the market as a whole. Lastly, we consider the firm as a unit, focusing on more advanced pricing strategies and contracting. This latter part of the course relies heavily on recent work in information economics. Credit not given for both G300 and G304.
- BUS-G 316 Sustainable Enterprise (3 cr.) A sustainable enterprise is defined as any human endeavor with integrity in three interrelated dimensions – environmental, cultural/social, and economic—and whose collective actions meet the needs of the enterprise and its stakeholders today without compromising the ability of future generations to meet their needs. The purpose of this course is to investigate the challenges of implementing sustainability in a variety of contexts and under often divergent perspectives. This course is designed to give students the tools to be able to identify and explain how sustainability creates new opportunities for, and constraints on, enterprise value creation. Students will first focus on short term strategies (low-hanging fruit) that will then create momentum for more long term organizational change for sustainability (game changers).
- BUS–G 345 Money, Banking, and Capital Markets (3 cr.) P: (ECON-E 201 or ECON-S 201) and (ECON-E 202 or ECON-S 202) with grades of C or better. This course is designed to give students a broad introduction to the operation and structure of the U.S. financial system. It provides an analysis of the structure and functions of contemporary financial institutions and markets, together with an analysis of the prices that are determined in these markets. Contemporary macroeconomic and financial developments are emphasized and current phenomena and policy proposals and their implications are discussed.
- BUS–G 350 Business Econometrics (3 cr.) P: ECON-E 370 or equivalent. The objective of the course is to understand various econometric, statistical, and forecasting tools for making informed business decisions. Econometric theories will be studied in order to understand the proper use of various methods in applied work. Computer exercises and applications to the real world problems will be emphasized. Topics include linear regression, binary dependent variable, simultaneous equations models, two-stage least squares, regressions with time series data and panel data methods.
- BUS–G 400 Capstone in Economic Consulting (3 cr.) P: BUS-G 304. This capstone course intends to develop or sharpen those skills that are associated with a successful consultant. A good economic consultant must be able to ask the right questions, possess a strong analytical background, and be able to communicate findings and recommendations effectively to his or her client. By analytical background, we mean: familiarity with sound economic thinking; ability to create or use financial, econometric, statistical, or other types of modeling; effective command of spreadsheets, statistical software, and databases. In addition to all of the foregoing, a successful consultant must demonstrate a professional attitude, good judgment, the ability to work well both individually and as part of a team, and the ability to work under pressure without compromising on work quality. The student who takes this course is expected to be highly motivated and have basic diagnostic, analytical, and communication skills. A capstone experience signals a highly interactive structure between faculty and students.
- BUS–G 406 Business Enterprise and Public Policy (3 cr.) This course is about areas of government regulation that affect business, including Antitrust Laws, Consumer Protection, Natural Monopoly, the Politics of Regulation, and Pollution. A business's ability to deal with such regulations is often the single most important determination of its profitability.
- BUS–G 456 Non-Market Risk Consulting (3 cr.) Firms traditionally focus on outcomes: product quality, delivery time, cost and pricing. Less attention has been given to process: environmental impacts, worker conditions and governance. With the reduction in communication and coordination costs non-market players such as activists, legislators and regulators, and society as a whole, have become more effective in pressuring firms to focus on these process issues. Failure to do so leads to non-market risks: boycotts, negative information campaigns, legislation etc., that damages profitability. Non-market risk management is aimed at spotting, mitigating, or eliminating these risks. This course focuses on non-market risk consulting strategies and how they may be aligned with market strategies to drive log-run business value.
- BUS–G 490 Independent Study in Business Economics and Public Policy (1-3 cr.)P: Consent of department chairperson and of instructor. Supervised individual study and research in the student's special field of interest. The student proposes the investigation desired and, in conjunction with the instructor, develops the scope of work to be completed. Written report required. In conjunction with the Economic Consulting major, a student may select to work with an economic consulting firm in the summer following the junior year. Upon returning to campus, the student then writes a detailed report on the internship activities. An alternative is for the student to work on an actual consulting job under the guidance of a faculty member.
- BUS–G 492 Data Analysis using Economics Modeling (3 cr.) P or C: BUS-G 350. In this course, students develop the analytical tools and hands-on experience with data and economic models to optimally utilize information in decision-making, often in the context of economic consulting. We cover data management and descriptive statistics, along with advanced analysis including policy evaluation and endogeneity control. We discuss these topics in the context of classic economic and business questions, and we also discuss several accessible, pertinent research papers to highlight key concepts. In addition, students develop presentation and communication skills, particularly with regard to quantitative outputs, and learn valuable, targeted computer programming skills. Finally, students learn the basics of identification in order to better understand which data is most useful to collect when answering a given empirical question.
- BUS–G 494 Public Policy and the International Economy (3 cr.) P: F370 or F304 with a grade of C or better. The goal of this class is to help students develop a sound understanding of the basic elements of international trade and finance and the effects of various international economic policies on domestic and world welfare. Topics on international trade will include the potential gains and losses from free trade agreements, the inclusion of labor standard in international trade agreements, globalization and its consequences on income distribution, and the global business practices within the bounds of anti-corruption laws. International agreements on regional trade liberalization (such as EU and NAFTA) and on multilateral trade liberalization (e.g., WTO) will be highlighted. Topics on international finance will include foreign investment, capital control, balance of trade, debt management, determination of foreign exchange rates, and international monetary system.
