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Course catalog descriptions for courses offered in all currently published terms.
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Business Economics |
Department Chairperson: Lafontaine, Francine
Department Website: http://www.bus.umich.edu/Academics/Departments/BE/
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| BE 502 |
Applied Microeconomics |
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2.25 hours |
Core |
Terms Offered: F09(A), F08(A) |
| | Course Prerequisites: No credit in BE 501 |
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Applied Microeconomics --- This course provides students with the foundations of microeconomic analysis. The primary objective is to develop the abilities of students to apply fundamental microeconomic concepts to a wide range of managerial decisions, as well as public policy issues. Foundation topics include: costs and supply behavior of the firm; consumer behavior and market demand; market forces, price formation and resource allocation; international trade and trade restrictions; and, market power and price-setting behavior. Students will also be introduced to more advanced aspects of microeconomic analysis. Advanced topics include; decision-making with risk and imperfect information; and, complex pricing strategies. |
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| BE 527 |
Energy Markets and Energy Politics |
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3 hours |
Elective |
Terms Offered: F09 |
| | Cross-listed with: NRE 527 |
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Energy Markets and Energy Politics --- The goal of this course is to give students a solid grasp of the environmental and social impacts of, and the institutions that govern, energy use, so that you can play a more effective role in shaping future policy or business decisions. We will begin with basic scientific and technological facts regarding the major uses for and sources of energy. We will then study energy markets (including spot and future markets), and what they are capable of accomplishing; we will also study the ways energy markets may fail. This will lead into an overview of the role of government in influencing energy decisions, starting with a high-level perspective, and then working with a series of case studies that examine in depth what government has accomplished in the area of energy policy. The course will wrap up with several current policy/business issues such as renewable portfolio standards, markets for renewable energy credits, and integrating the transportation sector into a cap-and-trade system for greenhouse gas emisisions. |
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| BE 550 |
Non-Market Strategy |
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3 hours |
Elective |
Terms Offered: F08 |
| | Cross-listed with: NRE 551, PUBPOL 515 |
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Non-Market Strategy --- This course examines influences on business that arise from public policies, government regulation, non-governmental organizations and media, which have come to be called the "non-market environment." The course examines how business is affected by these non-market institutions and actors, and how business can help shape the environment and the "rules of the game." The course stresses the interaction between market and non-market business strategies, and how firms operate the public arena to create and maintain competitive advantage. The course draws from the literature on economics and politics of government regulation of business, as well as from business case studies. |
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| BE 555 |
Non-Market Strategy: Shaping the Rules of the Game |
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1.5 hours |
Elective |
Terms Offered: F09(A) |
| | Course Prerequisites: (BE 501,502 or 591) and (no credit in BE 550/NRE 551, PUBPOL 515) |
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Non-Market Strategy: Shaping the Rules of the Game --- Most business courses teach you how to play the game of business within the rules. This course is about the rules themselves, their creation and their enforcement. While a firm's competitive advantage is created in large part through developing exploiting difficult-to-imitate capabilities and resources in the market environment, the non-market environment in which the firm operates also presents important risks and opportunities for business leaders. Many barriers to imitation derive from legal rules or public policies that favor certain capabilities over others. These policies are not exogenously given. They are instead the outcome of competition between businesses and other groups within public institutions. In many industries, corporate activity in the policymaking and judicial process is a key element in creating or maintaining a company's competitive advantage. This course has four main goals: 1) Create awareness of the broad range of ways in which the non-market environment - especially government policy - affects business. 2) Give an understanding of the process through which business and other groups create and change the rules of the game. 3) Gain a mastery of a set of conceptual tools and frameworks for developing and implementing non-market strategies. 4) Provide opportunities to practice formulating integrated strategies that function skillfully in the non-market arena. |
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| BE 562 |
Growth and Stabilization in the Macro Economy |
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2.25 hours |
Elective |
Terms Offered: W10(A), F09(B), W09(A), F08(A) |
| | Course Prerequisites: No credit in BE 560 |
| | Advisory Prerequisites: BE 501 or 502 or 591 or equivalent |
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Growth and Stabilization in the Macro Economy --- This course is an analysis of private market forces and national and international policy decisions that drive fluctuations in the global economy. The course uses formal macroeconomic models to give students the tools to understand and evaluate contemporary and historical economic growth. The course focuses on the structure of national and international banking and financial systems, sources of financial instability, and their impact on economic growth. Key topics include long-run economic growth, international trade, interest rates, exchange rates and monetary policy. The course emphasizes development of students' ability to analyze national and international economic data and to understand discussions of macroeconomic issues in the business press and their implications for business decision-making. |
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| BE 570 |
Tax Policy and Business |
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3 hours |
Elective |
Terms Offered: W09, W10 |
| | Advisory Prerequisites: BE 501 or 503 or equivalent |
| | Cross-listed with: PUBPOL 575 |
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Tax Policy and Business --- An analysis, from the business and government policy perspectives, of some of the largest government programs that shape the economic environment. The course begins with a theoretical treatment of the principles that should infuse an appropriate role of government in the economy, and proceeds to apply these principles to critical policy issues. The first seven weeks deals with federal income tax policy, focusing on how the tax system affects the economy and business decisions. An evaluation of the major proposals for income tax reform will be examined, including the flat tax and the national retail sales tax. |
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| BE 580 |
Game Theory and Competitive Tactics |
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3 hours |
Elective |
Terms Offered: F09, F08 |
| | Course Prerequisites: No credit in BE 581 |
| | Advisory Prerequisites: BE 501/503 recommended |
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Game Theory and Competitive Tactics --- This course focuses on two main questions: How can firms develop and maintain profits in the face of competition, and how do governments use antitrust and competition laws to set limits on the degree to which firms exercise market power? The objectives of this course are to understand the effects of firm tactics and strategies on the firm's customers and rivals, and their likely reactions, and to see how policies designed to promote competition affect the feasibility of various actions firms might want to take. In particular, we will compare the U.S. and European approaches to competition policy and the implications for business. We will apply the analytical tools of economics and basic game theory in our examination of firm decisions and industry competition. The dimensions of competitive strategy that we cover include product differentiation, horizontal mergers, strategies to deter entry, predatory practices, strategic commitment, cooperative pricing, and vertical restraints. The concepts in the course will be developed using a mix of lectures, business cases, and antitrust case material. |
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| BE 581 |
Competitive Tactics and Policy |
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1.5 hours |
Elective |
Terms Offered: W10(B) |
| | Course Prerequisites: No credit in BE 580 |
| | Advisory Prerequisites: BE 501/BE 503/permission of instructor |
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Competitive Tactics and Policy --- This course focuses on how firms interact with others in their industry and with government agencies enforcing policies designed to promote competition. Companies with market power must be aware of potential domestic and international legal constraints on their actions. We will compare U.S. and European approaches to competition policy and the implications for business. We will apply the analytical tools of economics and basic game theory in our examination of firm decisions and industry competition. The dimensions of competitive strategy that we cover will include competition and cooperation in an oligopoly, horizontal mergers, and strategies to deter entry by a dominant firm. The concepts in the course will be developed using a mix of lecture, business cases, and antitrust cases. |
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| BE 591 |
Applied Microeconomics |
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2.25 hours |
Core |
Terms Offered: W09(B), W10(B) |
| | Advisory Prerequisites: Global MBA students only |
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Applied Microeconomics --- This course provides students with the foundations of microeconomic analysis. It is designed to develop in students an ability to apply the analysis to business decision-making and public policy evaluation. Topics include: (1) the nature of the business firm, its costs and its supply behavior; (2) consumer behavior and market demand; (3) market forces, price formation and resource allocation; (4) international trade and trade restrictions; and (5) market power, cartels and price-setting behavior. IN this course, students also apply microeconomic analysis to more advanced aspects of business decision-making and public policy evaluation. Topics include: (1) imperfect information and uncertainty; (2) decision-making with risk; (3) principal-agent issues and incentive contracts; (4) complex and multipart pricing strategies; (5) vertical relationships between firms and suppliers; and (6) antitrust and regulatory policies. |
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| BE 619 |
Incentives & Productivity |
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2.25 hours |
Elective |
Terms Offered: W10(A), W09(A) |
| | Cross-listed with: MO 619 |
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Incentives and Productivity --- This course applies economics to the analysis of personnel management issues. Topics covered include hiring and firing decisions, human capital and the provision of on-the-job training, task assignment, intrinsic and extrinsic motivation, the provision of incentives in firms, the advantages and disadvantages of alternative compensation schemes, promotions and up-or-out contracts as incentive mechanisms, objective and subjective performance evaluation, relative performance evaluation, career-based incentives, team production, stock options and executive compensation, and the impact of labor laws on personnel management choices from an international comparative perspective. |
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| BE 750 |
Independent Study Project |
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1 - 3 hours |
Elective |
Terms Offered: F09, S09, W09, M08, M09, F08, W10, S08 |
| | Advisory Prerequisites: Graduate standing |
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Independent Study Project --- Independent study projects, supervised by faculty, are available to graduate business students in good academic standing. To select a project, students should consult the appropriate professor about the nature of the project and the number of credit hours the work would earn. Students earn one to three credit hours per project and may elect only one study project in a term. Graduate business students should consult their program bulletins for information
regarding total number of projects and credits that can be applied to their degree. To register for a project students must submit an approved Independent Study Project application, available online. |
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