Game Theory and Strategic Decisions (MECN-452-0) How does a decision-maker make good decisions in strategic situations - situations where outcomes depend on the choices of other purposeful individuals as well as one's own? Participants in this course will gain an understanding of how to use the concepts and tools of Game Theory to guide their decisions. Topics include backward induction and subgame perfection, collusion and competition, mixed strategies, credibility and commitment, negotiation and bargaining, information asymmetry, market entry, and bidding strategies in auctions. This course makes extensive use of individual and group experiments and discussion.
Microeconomic Analysis (MECN-430-0) 1Ys: This course is either waived during the admissions process or completed during the Summer term.
Among the topics this core course addresses are economic analysis and optimal decisions, consumer choice and the demand for products, production functions and cost curves, market structures and strategic interactions, and pricing and non-price concepts. Cases and problems are used to understand economic tools and their potential for solving real-world problems.
Pricing (KELLG_MA-322-0) Comparison of the three main ways to set prices-haggling/negotiation, posted price, and auctions. How to choose the best method in a given situation. Customizing the price of the same product or service to different segments, using optimization models to set prices when volume is uncertain, pricing multiple products. Introduction to techniques for gathering information about buyer valuations and demands, including regression, conjoint analysis, and enterprise value creation.
Business Analytics (DECSM-431-0) Business Analytics II (DECS-431-0) This sequel to DECS-430 extends the statistical techniques learned in that course to allow for the exploration of relationships between variables, primarily through multivariate regression. In addition to learning basic regression skills, including modeling and estimation, students will deepen their understanding of hypothesis testing and how to make inferences and predictions from data. Students will also learn new principles such as identification and robustness. The course has an intense focus on managerial relevant applications, cases and interpretations.