Being “strategic” means intelligently seeking your own goals in situations that involve other parties who do not share your goals. The purpose of this course is to develop your understanding of strategic situations encountered as a manager in a business firm. Taking this course will teach you to recognize strategic opportunities when they arise, to frame those opportunities within a model that your business partners can understand, to predict how your own actions will affect the actions of other parties involved.

"Trade and Investment Strategy" is a strategy elective on the microstructure of trade and growth in private enterprise. It combines analytic with experimental methods to investigate strategic interactions in bidding, buying, selling, designing trading mechanisms, consumption based portfolio analysis, investment dynamics, and governance.

Personnel Strategy 45-971

This course analyzes how a company develops its human resource base with a view to maximizing its expected value. In the absence of appropriate incentives, the workforce of a firm, its upstream service providers, and even management, do not share the objectives of shareholders. The perspective we take is without apology, strategic. Employees intelligently and capably pursue their own private interests, and the goal of managers is to create a working environment that, roughly speaking, induces employees to achieve the firm’s long term revenue objectives at minimum cost. We show how employment and human resource practice adapt to the economic opportunities and challenges that firms confront.

 

This course explores the empirical content of economic theories, the identification of economic models, the estimation of model primitives, and structural econometric practice, including computation, the asymptotic properties of estimators, and small sample performance. To develop and apply these concepts we focus on three areas of current research interest: (i) dynamic discrete choice optimization and dynamic games; (ii) principal agent models of optimal contracting; (iii) procurement models, auction mechanisms, limit order market microstructure and competitive equilibrium.

Structural Econometrics 899

This course explores relationships between economic theory, identification, estimation and econometric practice. It develops structural approaches for analyzing large cross sectional and longitudinal data sets, by exploiting restrictions derived from the equilibrium dynamic outcomes of economic theory. We investigate empirical content, characterize identification, evaluate alternative estimators and testing procedures, as well as consider counterfactuals. The topics we cover include individual discrete and continuous optimization problems, non-cooperative games, optimal contracting, auctions, market microstructure and competitive equilibrium.