This concentration's main goal is to
help individuals and organizations make decisions in a disciplined and
strategic way. It introduces several frameworks and models, and applies them in a variety of
environments. Although the emphasis is on business and policy
applications, the frameworks are versatile enough to apply to strategic
decisions in general. Excelling in business and policy-making is all
about correctly diagnosing a problem or position, making the best
decisions to improve upon this position, and sustaining this improvement
over the long run. This concentration will equip students with the
right tools to accomplish these goals.
The required classes in this concentration are:
- Game Theory: This is
the main analytical framework to study situations in which outcomes are
strategically determined by more than one decision-maker.
- Business Strategy: Class focuses on firm and organizational decisions that go beyond the day to day realm.
Decisions such as how to create value for customers, how to position a
product, or where to draw the boundaries of the organization, all fall
within the domain of this discipline.
- Competition, Strategy and Policy: Known as ECO 798 this course introduces
major topics in the economics of imperfectly competitive markets, and explores how behaviors and outcomes in these
markets are influenced by policies and regulations. The class also covers models of firm behavior
under imperfect information, and the optimal design of contracts and
incentives. This is very much a
hands-on-class designed to make you a better negotiator and extract
surplus in bargaining contexts.