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MGTECON 200: Managerial Economics

MGTECON 200 is a base-level course in microeconomics. It covers microeconomic concepts relevant to management, including the economics of relationships, pricing decisions, perfect competition and the "invisible hand," risk aversion and risk sharing, and moral hazard and adverse selection. This year we are piloting a "flipped classroom" where students will be expected to work through the online modules before each class and the time in class will be devoted to solving problems and discussing cases.
Terms: Win | Units: 3

MGTECON 203: Managerial Economics - Accelerated

MGTECON 203 is the more quantitative version of MGTECON 200. It uses math tools such as derivatives and algebra to explain economics concepts. No previous knowledge of economics is assumed. The class covers key ideas in economics relating to topics such as game theory, dynamic cooperation, pricing, market power, competitive equilibrium, moral hazard, adverse selection, externalities, risk aversion, and auction theory. The goal of the class is to develop a collection of analytical tools that enable one to analyze a wide variety of economic problems and business strategies.
Terms: Win | Units: 3

MGTECON 328: Economics of the Media, Entertainment, and Communications Sector

This course analyzes business decisions in current and historical cases from the media, entertainment, and communications sector. Topics include (1) pricing, bundling and tiering of media products, (2) horizontal and vertical integration of content, distribution, and hardware, (3) selling and buying advertising, (4) choosing between subscription-funded, advertising-funded, or mixed revenue models, (5) negotiations between content and distribution, (6) antitrust in media and technology, (7) the effect of technology on the news media business, (8) the labor market for entertainment stars, (9) competition and regulation in communications infrastructure, (10) strategy in spectrum auctions, and more. There is an emphasis on combining concepts from economics and statistics with institutional knowledge about the sector. The course format is case discussion, guest speakers from the industry, and discussion of concepts from economics and statistics. Evaluation is based on class participation, completion of reading and written assignments, and a final paper.
Terms: Win | Units: 3

MGTECON 331: Health Law: Finance and Insurance

This course provides the legal, institutional, and economic background necessary to understand the financing and production of health services in the US. Potential topics include: health reform, health insurance (Medicare and Medicaid, employer-sponsored insurance, the uninsured), medical malpractice and quality regulation, pharmaceuticals, the corporate practice of medicine, regulation of fraud and abuse, and international comparisons.
Terms: Win | Units: 3

MGTECON 350: Economics of Labor: Strategy, Policy, and the Future of Work

This Advanced Application of Microeconomics course will study the labor market. The initial section, focused on organizations' personnel strategies will consider how labor markets differ from other goods and how to adopt classic supply/demand analysis to attract and motivate employees. The second portion of the course will provide insights into key public policy issues related to labor markets including drivers of inequality, minimum wages, labor market discrimination, and tax policy. The final set of classes will look at how trends in automation, demographics, and working from home are changing the labor market.
Terms: Win | Units: 3
Instructors: ; Oyer, P. (PI); Shaker, S. (GP)

MGTECON 383: Measuring Impact in Business and Social Enterprise

Businesses are increasingly expected to have a positive social impact, as evidenced by the rapid growth of impact investing. Yet, even as the impact investing market has taken off, impact measurement has lagged, undermining the credibility of the sector. Impact measurement is also critical to individual firms, not-for-profits and governments, as they face increased pressure to generate quantifiable results. How can we measure impact? What are some of the most effective frameworks, tools and approaches for impact measurement? How does one choose the most appropriate measurement tool based on factors such as the size, maturity and sector of an organization? Can impact be distilled down to a single monetary measure, such as a dollar? These and other questions will be explored in considerable depth, through analysis and discussion of case studies as well as hand-on use of impact measurement tools. This course is a good match for students interested in impact measurement, impact investing, profit-with-purpose businesses or the role of business in society. The course will be co-taught by Matt Bannick, who led the impact investing firm, Omidyar Network, and served as the President of PayPal and of eBay International, and Neil Malhotra, Director of the Center for Social Innovation and an expert in the statistical measurement of impact.
Terms: Win | Units: 3

MGTECON 526: Inclusive Economic Growth and Poverty Reduction in Developing Countries

Poverty rates have fallen markedly in countries around the world, as more households have joined the lower middle-class. Indeed, though U.S. income inequality has increased, inequality has fallen around the world. However, by developed country standards, poverty remains pervasive. What has caused the decline in rates of poverty and can we expect further decreases or can we act to accelerate the improvements? One answer is that countries that have experienced 'inclusive growth'?, in which the growth of the economy (i.e., GDP) has elevated the incomes of the poor, have done better at creating jobs for the poor, especially in the private sector. Therefore, the class will consider the evidence on the factors that have contributed to inclusive economic growth in developing countries. A second answer as to why poverty has fallen, but remains at high levels, is that governments and aid agencies and foundations have targeted programs to the poor. This course discusses macroeconomic policy, targeted government policies, aid, and entrepreneurship in developing countries. Examples will be given from Latin America, South Asia, and Africa. The course is co-taught by a Stanford economist and a World Bank consultant and will build on examples from recent experiences. The class is aimed at GSB students who are either intellectually curious about the topic or anticipate doing business in developing countries.
Terms: Win | Units: 2

MGTECON 583: Measuring Impact in Business and Social Enterprise

Businesses are increasingly expected to have a positive social impact, as evidenced by the rapid growth of impact investing. Yet, even as the impact investing market has taken off, impact measurement has lagged, undermining the credibility of the sector. Impact measurement is also critical to individual firms, not-for-profits and governments, as they face increased pressure to generate quantifiable results. How can we measure impact? What are some of the most effective frameworks, tools and approaches for impact measurement? How does one choose the most appropriate measurement tool based on factors such as the size, maturity and sector of an organization? Can impact be distilled down to a single monetary measure, such as a dollar? These and other questions will be explored in considerable depth, primarily through analysis and discussion of case studies. This course is a good match for students interested in impact measurement, impact investing, profit-with-purpose businesses or the role of business in society. The course will be taught by Matt Bannick, who led the impact investing firm, Omidyar Network, and served as the President of PayPal and of eBay International.
Terms: Win | Units: 2

MGTECON 601: Microeconomic Analysis II

This course studies the roles of information, incentives and strategic behavior in markets. The rudiments of game theory are developed and applied to selected topics regarding auctions, bargaining, and firms' competitive strategies; information economics; and contracting and market design.
Terms: Win | Units: 3

MGTECON 604: Econometric Methods II

Second course in the PhD sequence in econometrics at the Economics Department (as Econ 271) and at the GSB (as MGTECON 604). This course presents modern econometric methods with a focus on regression. Among the topics covered are: linear regression and its interpretation, robust inference, asymptotic theory for maximum-likelihood und other extremum estimators, generalized method of moments, Bayesian regression, high-dimensional and non-parametric regression, binary and multinomial discrete choice, resampling methods, linear time-series models, and state-space models. As a prerequisite, this course assumes working knowledge of probability theory and statistics as covered in Econ 270/MGTECON 603.
Terms: Win | Units: 4

MGTECON 612: Advanced Macroeconomics II

This is an advanced class in macroeconomics. We cover monetary and business cycles models, labor models, and HANK models. Students enrolled in MGTECON 612 take the class for 4 units. Students develop a research proposal and present it to the instructors as the final exam. Prerequisite: Satisfaction of the economics department's core macro requirement or consent of the instructors.
Terms: Win | Units: 4

MGTECON 617: Heterogeneity in Macroeconomics

The goal of this course is to introduce students to frontier research in quantitative macroeconomics and finance with heterogeneous agents. We study models with imperfect financial markets and/or search frictions. We emphasize theory and numerical methods as well as tools to confront model predictions with both micro and macro data. Potential applications cover a wide range of topics in household finance, corporate finance and firm dynamics, asset pricing, housing and labor markets, business cycles and growth.
Terms: Win | Units: 3

MGTECON 618: Social Insurance and Urban Economics

The course covers various topics relating to social insurance and urban economics. The first half of the course covers the rationale for government interventions into private insurance markets, adverse selection, social insurance design and the intersection between social insurance and intra-family insurance. The second half of the course covers topics in urban economics, such as spatial equilibrium, placed-based policies, and housing policy.
Terms: Win | Units: 3

MGTECON 626: Continuous-time Methods in Economics and Finance

Continuous-time methods can, in many cases, lead to more powerful models to understand economic phenomena. The Black-Scholes option-pricing formula is significantly more tractable than discrete- time methods of option pricing based on binomial trees. There is an established tradition in continuous-time asset pricing, and there is increasing use of these methods in other fields, such as game theory, contract theory, market microstructure and macroeconomics. The goal of this class is to explore some of the old classic research as well as new economic models, and to discover areas of economics where continuous-time methods can help. The intention is to give graduate students a tool, which they can use to gain comparative advantage in their research, when they see appropriate. With this goal in mind, 25% of the class will focus on mathematics, but with economically relevant examples to illustrate the mathematical results. Up to one half of the class will cover established models, and the rest will focus on new papers. If students have their own work that uses continuous time, we can take a look at that as well. Coursework will include biweekly problem sets and a take-home final exam. There will also be room for short student presentations (related to homework assignments, economic papers, or definitions and results related to specific math concepts).
Terms: Win | Units: 3

MGTECON 628: Reading Group in Industrial Organization

This course meets weekly on Fridays at Noon. The primary purpose of the course is to read and discuss current working papers in Industrial Organization and related fields (e.g., Econometrics, Marketing, and Labor). Students are required to present papers a couple of times per quarter and both students and faculty may also present their own working papers.
Terms: Aut, Win, Spr | Units: 1 | Repeatable 12 times (up to 12 units total)

MGTECON 629: Faculty Research Workshop

Each week, a different economics faculty member will discuss his or her important and /or current research. The course is an important introduction to PhD level research topics and techniques. Attendance is mandatory.
Terms: Aut, Win | Units: 3 | Repeatable 10 times (up to 30 units total)
Instructors: ; Shaw, K. (PI); Smeton, K. (GP)

MGTECON 691: PhD Directed Reading (ACCT 691, FINANCE 691, GSBGEN 691, HRMGT 691, MKTG 691, OB 691, OIT 691, POLECON 691, STRAMGT 691)

This course is offered for students requiring specialized training in an area not covered by existing courses. To register, a student must obtain permission from the faculty member who is willing to supervise the reading.
Terms: Aut, Win, Spr, Sum | Units: 1-15 | Repeatable for credit

MGTECON 692: PhD Dissertation Research (ACCT 692, FINANCE 692, GSBGEN 692, HRMGT 692, MKTG 692, OB 692, OIT 692, POLECON 692, STRAMGT 692)

This course is elected as soon as a student is ready to begin research for the dissertation, usually shortly after admission to candidacy. To register, a student must obtain permission from the faculty member who is willing to supervise the research.
Terms: Aut, Win, Spr, Sum | Units: 1-15 | Repeatable for credit
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