ECN6110 - GAME THEORY FOR ENTREPRENEURS
GAME THEORY FOR ENTREPRENEURS
ECN6110 Game Theory For Entrepreneurs
3 Credit MSM Elective
In this course you will learn to analyze strategic situations that have an interactive component. You will learn how the economic perspective informed by game theory, probability and mathematics can be used to analyze complex situations that managers and entrepreneurs encounter on a regular basis. You will learn to anticipate how other individuals and firms will behave and react to the environment and actions of other players. Gaining an understanding of the structure and strategies of other players enhances your ability to play games well and to improve the results. You will also gain an appreciation for the game before the game, how to influence the structure, strategies and payoffs in order to promote specific behavior or outcomes. The analytical tools developed in this class are valuable for common business situations such as pricing models, investment decisions, contract design and dealing with the issues of moral hazard and adverse selection.
ECN6300 - ECONOMIC ANALYTICS
ECN6300 Economic Analytics
3 credits Blended
This course provides a framework for systematic analysis of consumer and firms choices in light of global market dynamics to create and capture value, given the firm's and industrys market structure. This course can be broken down across three phases:
Foundation: Economic data sources for business; economics theories and models related to analytics in business (e.g. maximization of consumer utility/satisfaction; consumer and firm behavior).
Intermediate: Linear and non-linear models in the context of business applications (e.g. elasticity and demand; marginal productivity; sales simulation; quantifying impacts of government policies on business); Association and Causality; logit and multinomial logit for multiple outcomes (e.g. predicting choices of different brands; predicting market shares of different products).
Advanced: Time series (AR, MA, ARMA and ARIMA), exponential smoothing, and trend models (e.g. their applications in sales and revenue forecasting, human resource and customer service); how to present economics findings for business purposes.
ECN6310 - MODERN ECONOMETRICS FOR BUSINESS
MODERN ECONOMETRICS FOR BUSINESS
ECN6310: Modern Econometrics for Business
Using an experiential learning approach, this course equips you with a wide variety of modern tools in prescriptive analytics, from business experiments to regression discontinuity, to give you the power to evaluate business strategies and policies. The course also covers extensive anatomy of regressions, hypothesis testing, Monte-Carlo simulation, and time series analysis and forecasting with a hands-on approach using applications from the world of business.
Pre-req for MBA students: MBA students will be required to review approximately 6 hours of pre-work videos.
ECN7200 - MANAGERIAL ECONOMICS
ECN7200 Managerial Economics
Managerial Economics (MICRO) - This course provides a framework for systematic analysis of consumer and firms choices in light of global market dynamics to create and capture value given the firm's and industrys market structure. This framework is used to explain firm adjustment to changes in market conditions, as well as to changes in government policies and laws. While the course focuses on understanding how the value of the firm can be increased, it also addresses broader questions of efficiency, equity and sustainability.
ECN7201 - INTER MACRO AND BUSINESS ENVIR ANALYSIS
INTER MACRO AND BUSINESS ENVIR ANALYSIS
ECN7201 International Macroeconomics and Business Environment Analysis
(Previously title: Managing at the Crossroads: Business, Government, and the International Economy)
Managing at the Crossroads: Business, Government, and the International Economy (Mac-BGIE) This course focuses on domestic and international cause-and-effect relationships among credit markets, goods and services markets, and foreign exchange markets. This global framework is used to explain the effect that economic, social, and/or political shocks have on a nations growth and prosperity.
ECN7500 - MANAGERIAL ECONOMICS: COMPETING TO WIN
MANAGERIAL ECONOMICS: COMPETING TO WIN
ECN7500: Managerial Economics: Competing to Win
3 elective credits
**If you have taken and passed ECN7200 you cannot register for ECN7500 as these two courses are equivalent**
Running a successful business requires decision-making that is informed by an understanding of the market environment in which the firm operates. Business leaders and entrepreneurs need analytical skills and the ability to anticipate market dynamics if they are going to manage for growth. Managerial Economics: Competing to Win provides students strategic and tactical competencies such as: sizing market demand, identifying market opportunities, differentiating products and services effectively, strategic pricing, cost modeling, determining optimal firm size and identifying sources of market power. With these competencies in hand, students will then develop the ability to determine the best competitive strategies based on a clear understanding of an industrys structure and behavior, and the firms advantages within the larger market. Students will use game theory to model strategic behavior, consider the firms responsibilities and the governments role in correcting market failures, and will leave the course with an ability to create business models that will grow stakeholder value.
ECN7505 - INTERNATIONAL MACRO:EVERY MBA KNOW
INTERNATIONAL MACRO:EVERY MBA KNOW
ECN7505: International Macro: What Every MBA Should Know
3 elective credits
This course focuses on the intersection between international macroeconomics and business strategy. It highlights the movements of and interrelations among major macroeconomic variables that affect the performance of nations, in general, and businesses, in particular. None of these economic factors is controlled by any manager, but good managers must react to, cope with, and anticipate them. IM provides an intuitive, logical, and internally consistent framework for managers to: (1) function effectively in a world where business performance and strategies are affected by international institutions, domestic and global economic forces, as well as government and central bank policies , (2) evaluate whether government and central bank policies are sustainable, (3) create and critically evaluate country analyses, (4) clarify how changes in a countrys economic climate affect corporate financial plans and capital budgeting decisions, and (5) improve financial projections (e.g., cash flow statements, income statements and balance sheets). With this knowledge, managers are better able to internalize, analyze, and make decisions based on the expected impact that economic, political, and social forces have on companies strategies, competitive positions, and performances.
ECN7510 - FINANCIAL MACROECONOMIC DATA ANALYSIS
FINANCIAL MACROECONOMIC DATA ANALYSIS
ECN7510: Financial and Macroeconomics Data Analysis
3 elective credits
There are numerous challenges to competently modeling/forecasting financial and macroeconomic variables. Basic statistical analysis may yield misleading results for various reasons including time-varying volatility, structural change, and outliers. Time series data is also often non-stationary which, if not addressed, can lead to spurious regression or nonsense correlations. Analysis of big data meanwhile can promote model selection bias where the effects in the final model are overstated. Moreover, the relationship of cause and effect between variables is often two-way, where both variables affect each other. In this class, you will learn several methods to address these problems including: cointegration (to address non-stationarity), vector autoregression (to allow for interdependence between variables), and a machine learning algorithm to conduct unbiased model selection from big data while addressing outliers and structural change.
ECN7520 - ECONOMIC & FINANCIAL FORECASTING
ECONOMIC & FINANCIAL FORECASTING
Economic and Financial Forecasting
If you have taken QTM9501, Business Forecasting, you cannot take this course.
Do you anticipate making or evaluating economic and business forecasts in your career? This "hands-on" course provides students a comprehensive introduction to the field of forecasting and econometrics. It covers three main areas of forecasting: basic statistical methods, structural models, and time series models. Throughout the course we will focus on applied examples and use software to forecast key economic and business measures of performance (such as asset pricing, investment risk, interest rates, unemployment rates, industry level and firm level sales, revenues and other variables) while learning to assess the strengths and weaknesses of these forecasts.
These techniques can improve corporate financial planning, marketing, sales forecasts, production planning, and many other decisions where better predictions in light of uncertainty can reduce costs, raise profits and lead to better decision-making.
This course is typically offered in the following semester: Fall
ECN7550 - BUSINESS STRATEGY AND GAME THEORY
BUSINESS STRATEGY AND GAME THEORY
ECN7550- Business Strategy and Game Theory
3 credit graduate elective
This course makes extensive use of Game Theory (in addition to applied economics and other emerging strategic models) to provide a systematic and rigorous approach for formulating winning strategies for creating and capturing value in the context of interdependence and uncertainty. This course will empower you with the knowledge and skills to frame the strategic questions for data analysis and turn data into strategic insight and foresight for agile startups as well as for large corporations. Case studies are used to illustrate successful application of strategies. The teaching method utilizes simulations, gaming, and practical, case based discussions. Topics include: threats and opportunities in the supply chain, the dynamics of pricing rivalry, entry decisions/entry deterrence, mergers and acquisitions, strategic commitment, negotiating, bidding, and managing innovation for sustaining competitive advantage. Antitrust issues are also addressed.
ECN7555 - HEALTH CARE: MARKET ANALYTICS AND STRAT
HEALTH CARE: MARKET ANALYTICS AND STRAT
ECN7555 Health Care: Markets, Analytics and Strategies
(Previously titles Health Economics)
3 elective credits
Health care costs account for 18% of U.S. GDP, which is one reason the health care industry is abundant with job openings and entrepreneurship opportunities! This is especially true in the Boston area, which has become a global leader in the health care and life sciences industries. This course follows a hands-on, two-pronged approach to solve real-world problems.
Prong #1 focuses on the market and organizational structures of major stakeholders, including pharmaceutical companies, health care tech companies, insurers, hospitals, physicians, patients, and government.
Prong #2 uses empirical methods, such as big data, survey, Pay-for-Performance, and Health Technology Assessment, to analyze these stakeholders challenges, assess business opportunities, and design evidence-based strategies. In addition, you will learn SAS, a highly demanded analytical skill on the job market.
For students interested in health care and life science industries, this course will provide you with the tools and knowledge needed for evidence-based, expert-level opinions. For students interested in in analytics, the methods used in health care analyses are applicable, transferrable, and relevant to a host of other industries and functions, such as marketing and finance.
ECN7575 - BUS MODELS, COMPT AND CHANGING EURO ENV
BUS MODELS, COMPT AND CHANGING EURO ENV
ECN 7575 Business Models, Competitiveness, and the Changing European Environment
3 elective abroad credits
Program 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 DaVincis The Last Supper, and attending a soccer game at San Siro.
Prerequisites: ECN7200 and ECN7201
ECN7580 - INDEPENDENT RESEARCH
******Independent research is available for all academic divisions. Registration is manual for
students through Graduate Programs and Student Affairs******
Independent Research provides an opportunity to conduct in-depth research in areas of a student's own specific interest. Students may undertake Independent Research for academic credit with the approval of a student-selected faculty advisor, the appropriate division chair, and Graduate Programs and Student Affairs. Please note that a student is responsible for recruiting a faculty advisor through the student's own initiative and obtain the advisor's prior consent/commitment before applying for an independent research project. Authorization for such a project requires submission of a formal proposal written in accordance with standards set forth by the Graduate School. The research project normally carries 1.5 or 3 credits.For more information and a proposal outline please visit: http://life.babson.edu/organization/GPSA