This accelerated course covers microeconomic concepts relevant to managerial decision making.
Relevant course content focuses on social impact management, ethics, public policy, and environmental management. This course explores how social good is achieved through sound economic decision making that considers externalities. Topics include ethics of collusion and antitrust activities (case: General Electric vs. Westinghouse in Large Turbine Generators); examination of social externalities (car insurance used as an example) and dead weight loss under various economic policies; global warming, considered from a value-of-information perspective; the relationship between prices and environmental impact, and various kinds of environmental externalities such as over-fishing; and social costs in various scenarios such as transportation time, regulations, and materials extraction. Readings focused on climate change, waste, and societal impact include “The BP Amoco/Arco Merger,” “A Better Way to Foster Telephone Privacy,” “Some Economics of Global Warming,” “Willingness to Pay for a Public Good,” and “The Economics of Information: Antitrust Remedies at the FTC.”