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Majors
& Requirements
There
are five majors hosted by the Managerial Economics & Decision
Sciences Department.
Analytical
Consulting
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Requirements
The Analytical Consulting major is a unique, multidisciplinary
program that leverages the Kellogg School' s rich analytical
curriculum as well as its position as a magnet for recruiters
from all major consulting companies. Intended to equip the
students with fundamental tools used in consulting, the major
consists of three components: Decision models, analytical
strategy, and empirical methods. Each component consists of
3 to 4 courses that span the fields of decision sciences,
operation management, managerial economics, and marketing.
Completing the major requires taking 4 courses, with at least
one in each of the fields mentioned above.
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Decision
Sciences
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Requirements
The Decision Sciences major delivers a variety of modeling
techniques for use in diverse industries. The subject matter
is meant to give students a "mathematical toolbox"
usable across many disciplines - whether using regression
to forecast sales, designing spreadsheets for portfolio optimization
or constructing decision tree models to evaluate different
R&D alternatives. Because of its flexibility, the major
is an ideal complement to majors in finance, economics, operations
or marketing. In recent years decision science techniques
have been especially relevant for (but not limited to) companies
in the following areas: general consulting, oil & natural
gas, automotive, pharmaceuticals and transportation.
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Entrepreneurship
& Innovation
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Requirements
The major in Entrepreneurship & Innovation
recognizes the ever-increasing role of entrepreneurial activity,
both individual and corporate, in the modern economy. It is
designed for students contemplating going into business for
themselves at some stage of their career, joining an entrepreneurial
venture, an entrepreneur support organization such as a commercial
bank or venture capital firm.
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Managerial
Economics
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Requirements
The Managerial Economics major is well suited for careers
in consulting, finance and marketing. Competitive strategic
analysis, pricing strategies and macroeconomics are taught
in various courses. These are key analytical tools to have
in hand in both industry-based and function-based careers.
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Operations
Management
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Requirements
Operations
Management is the management of business processes, that is,
the management of the recurring activities of a firm. Along
with finance and marketing, operations is one of the three
primary functions of a firm. At the danger of being simplistic,
one may say that marketing induces the demand for products
(goods and services), finance provides the capital, and operations
produces and delivers the product. Even more generally, operations
spans the entire organization: COOs are in charge of R&D,
design/engineering, production operations, marketing, sales,
support and service.
The operations
major is designed with two specific career paths in mind:
consulting and general management. Operations is arguably
the most appropriate major for a consultant or general manager
to learn about the daily cross-functional management of the
firm. All operations electives in the operations major take
an interdisciplinary view and interface with finance (for
investing and financial evaluation), marketing (appropriate
delivery channels and customer management), organizational
behavior and strategy. Instead of the technical engineering
view of operations, the focus is on managing the business
well.
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