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ECN3645 Business and Economic Policy in Developing Countries
4 Advanced Liberal Arts CreditsThis course discusses the latest research in economics on the two fundamental questions of economic development: 1) why are some countries rich and some poor and what can be done about it, and 2) why are some individuals poor and remain poor for generations, and what can be done to alleviate poverty. In answering these questions, the course introduces students to the economic and political environment in poor countries. Topics include measures of development, economic growth, macroeconomic poverty traps (such as conflict, being landlocked, and low quality of institutions), foreign aid, and microeconomic poverty traps (such as poor nutrition and health, low educational endowments, and incomplete markets). The course introduces empirical strategies in economics to identify causal effect, such as randomized controlled trials, instrumental variable, difference-in-differences and regression discontinuity.
Prerequisites: (SME2031 or ECN2002) and ECN2000
QTM7800 Business Analytics
2 Credits (Core MBA)If you have taken and passed QTM7200, you cannot register for QTM7800, as these two courses are equivalent
In the BA stream of the course, regression models are used to understand dependence relations and thereby improve the accuracy of predictive modeling. Sensitivity analyses are used to determine which factors drive our decisions, and, thus, determine which factors need to be carefully managed. In the OIM stream of the paired course, strategic tradeoffs are discussed to understand the operations and information models for a variety of settings (e.g., startups, nascent or established organizations) and thereby improve any model by utilizing resources (e.g., physical assets, people, data, digital technologies, markets) and processes for the flow of goods, people and information.
MSB6300 Business Analytics Field Project
3 Blended CreditsThe course will provide students with the opportunity to reinforce as many as possible of the program's learning goals by guiding and coaching them through the performance of analytical tasks that they can expect to encounter in the workplace following graduation. The course will consist of two principal components:
1. A formal curriculum, delivered in a blended format, that will teach students critical skills needed to plan and execute analytical projects, and then to communicate their results effectively to senior management and other stakeholders; and
2. A consulting project, coached by a faculty member, in which teams of students will perform an analytical task for an outside organization and present their work to executives from that organization.
LTA2031 Top Performers: Business in American Drama
4 Intermediate Liberal Arts CreditsEver since Willy Loman walked on stage with his sample cases in Arthur Miller's 1949 masterpiece Death of a Salesman, it has been thought axiomatic that American playwrights have painted a bleak portrait of sales professionals in particular and businesspeople generally. But a close look at American dramatic treatments of business shows something more complicated. Over the past century American playwrights have located in the world of business and the world of drama a shared preoccupation with the sometimes tricky distinctions between word and act, authenticity and performance, the _real_ and the symbolic. This course will look at a selection of American plays from the early twentieth century to the present, focusing on those plays' treatment of business and economic life. In addition to close scrutiny of dramatic texts and theatrical performances, we will also explore the role of performance in business. In other words, we'll look at both business in American drama and drama in American business. Your performance will be assessed through two papers, a mid-term and a final exam.
This course is typically offered in the following semesters: Fall
Prerequisites: (FCI1000 or AHS1000) and (WRT1001or RHT1000)
MOB3583 Business Environment in Russia
4 General CreditsOffered to students in the BRIC Program
OIM3545 Business Intelligence and Data Analytics
**Students who took this as MIS3545 cannot register for this course**
This course is about how organizations, and their employees can successfully collect, evaluate and apply information to become better decision makers. It starts with basic concepts regarding business data needs and ends with hands-on experience using Business Intelligence (BI) tools. It takes a variety of experts to start and run a business - financial, operational, marketing, accounting, human relations, managerial, etc. Each knowledge base requires up-to-date information to plot strategy or keep it on track. Our ability to capture large volumes of data often outstrips our ability to evaluate and apply the data as management information. These are the challenges we will address in this course so that you can become an intelligent gatherer and user of data in your chosen field.
Prerequisites: SME2012 or OIM2000
LAW1000 Business Law & Ethics
(Formerly Business Law)
This course provides students, as future business managers and leaders, with broad exposure to important areas of business law and with an introduction to business ethics. Legal and business considerations often are closely related. Students need a good working knowledge of legal and ethical principles in order to succeed in the business world. Law can be used to create and capture value for business activities as well as to mitigate legal and business risks.
Course goal #1 is to enable students to identify when they face legal issues in their professional lives and understand how to find additional information and/or consult intelligently with an attorney about them. Goal #2 is for students to be able to manage a business and its legal environment effectively. This includes understanding the significance of various legal and ethical issues, knowing how to manage and resolve legal disputes, knowing how to effectively structure businesses and deals, learning how to use the law to their advantage, and perhaps even when and how to try to change existing law. Goal #3 is to consider the limitations of the law and the role of ethical business principles and practices in sound decision making. To these ends, students read and analyze legal and ethics materials, apply precedents to new situations, complete group and individual projects, and practice analyzing, thinking, speaking and writing in a logical manner.
Business Law furthers three out of four overall learning goals of the undergraduate program
Collaboration - group projects such as negotiating contracts or conducting risk analyses and developing recommendations Communication - writing-intensive course involving writing assignments (research papers, contracts, analyses) and extensive Socratic dialogue in class through law case method teaching Problem solving - continual application of precedent to analyze fact situations and identify the application of legal principles to resolve the legal dispute in question, as well as the use of law as a larger policy tool to address wider social issues and problems. This course also has learning objectives specific to law and ethics. By the end of the course, students should be able to:
Understand substantive legal rules as well as procedural rules, institutions, and mechanisms; Appreciate the complex relationship between law and ethics; Identify ethical issues commonly arising in business and personal situations and understand and employ an ethical framework to manage these issues; Evaluate the ongoing role of law as a means of channeling human behavior in an interdependent society; Use law as a tool for understanding and solving business and social problems; and Utilize legal reasoning and understand how to make and defend basic legal arguments by drawing upon a broad range of relevant sources of legal authority.
This course is typically offered in the following semesters: Fall and Spring
ECN7515 Business Model Innovation to Compete in the Digital Economy
3 Elective Credits
Recent surveys to Top Management Teams show that business model innovation is at the forefront of their thoughts and challenges, both in startups and established companies. This course provides the tools to design and operate innovative business models.
The tools to be learned should help students understand how to think about business model innovation, respond to the entry of disruptive business models, and decide whether the company should operate single or multiple business models. We also analyze business model transformation and innovation in entrepreneurial organizations and how these organizations can use business model innovation to challenge established companies even in mature industries.
Examples of questions to be asked in the course are: How can a startup disrupt industries such as dairy, pharmaceutical, retail, financial, wine, and biotechnology? What are the fundamental issues to consider when designing business models that require different customer groups simultaneously? How to build sustainable models? What are the conditions to implement a business model innovation in an organization? How can the simultaneous operation of more than one business model promote a hard-to-imitate competitive advantage?
Regardless of your intended career path, understanding business models is essential. In investment banking or private equity, you need to understand the "engine" (i.e., the business model) that produces profits. In consulting, you need to solve organizational problems, which is very hard without understanding how the business model works. In industry, regardless of the company, economic sector, and position, you need to understand the context in which you operate and how your actions fit into the firm's policies, assets, and decision-making. In entrepreneurship, business model innovation is a powerful tool to succeed.
ECN 7575 Business Models, Competitiveness, and the Changing European Environment
3 Elective Abroad CreditsProgram fee is paid to Glavin Office - program fee includes: accommodations, breakfast, ground transportation, program planned meals and cultural excursions. Not included: tuition, international flight, single room supplement (additional $500), visa costs, additional meals and personal expenses.
ECN 7575 explores competitive and strategic dimensions of companies doing business in the European Union (EU) in the context of EU competitiveness, institutions, policies, history and culture. This course studies ways that companies organize and define core competencies to build successful global brands. It further examines emerging trends, opportunities, and challenges for business and business creation in Italy and in the EU. ECN7575 explores how companies adapt and take advantage of business model disruptions, such as changes in technology and EU regulation, in light of current market dynamics. This course is grounded in economic fundamentals of relevant market definition, competitiveness in different geographies, firm behavior and performance, and provides students with opportunities to evaluate how companies position themselves for success in global markets based on their business model and strategic choices.
ECN 7575 is divided into two parts: two on-campus lectures (WebEx available for Blended Learning students) and a week-long site visit to Italy. In Italy, students will visit 5-6 companies to study challenges and opportunities they are facing in the context of the EU, its institutions, and global competition. Past company visits include among others: Amazon, PayPal, Lamborghini, Ferrari, Ducati, Ermenegildo Zegna, Armani, Eataly, Brembo and DHL. In addition, several faculty from Bocconi University will offer lectures and case discussions pertaining to the current developments in the EU and the European Competitiveness court and relate them to relevant company visits. Applications discussed will also include luxury brand management, integrated supply chains, and consequences of specific business model choices for valuation, revenue potential, and brand equity objectives. Last but not least, several activities are planned that will allow students to engage in and embrace Italian history and culture. Past excursions include a night at La Scala, a guided tour of Milan, a viewing of Leonardo DaVinci's The Last Supper, and attending a soccer game at San Siro.
Prerequisites: ECN7200, ECN7201, ECN7500 or ECN7505
SEN1321 Business Opportunities in the Circular Economy(Senior Instructor: Reino Hyyppa) Economic development over the past century has been reliant on a linear model of "take, make, dispose" that requires a constant and inexpensive supply of materials and energy, which has contributed to climate change, pollution and environmental degradation. Entrepreneurs and business leaders are currently tasked with transitioning to a more sustainable economy, which decouples economic growth from finite resource consumption. A transition to a Circular Economy, which is both restorative and regenerative in design, will reduce our dependence on earth's finite resources. We will be able to optimize the yields from natural resources by circulating products and materials at their highest utility throughout our economy. A circular economy reduces the environmental impacts of global development and could create an economic benefit of $1.8 trillion, in Europe alone, by 2030 through innovation and new job opportunities.
Students in this course will analyze case studies on how circular economies have been successfully implemented into urban economies and businesses. The seminar will incorporate an example of sustainable food production that uses indoor gardening technologies, as well as takeaways from the panel on circular economies at the 2017 Net Impact Conference. Finally, working within teams, students will be challenged to identify an environmental problem facing Babson College and to develop a solution using circular economics.
Class 1 - Wednesday, Jan 31
Class 2 - Wednesday, Feb 7
Class 3 - Wednesday, Feb 14
Class 4 - Wednesday, Feb 21
Class 5 - Wednesday, Feb 28
Class 6/Showcase - Wednesday, March 7
Senior-Led Seminars are free, non-credit courses that are taught by seniors at Babson. Upon successful completion of a seminar, students will receive a grade of non-credit pass (NCP) and the course will appear on your transcript at the end of the semester. These courses are made possible by a generous gift of the Donald W. White, Sr. '50 Family.