MGTECON 200: Managerial Economics
MGTECON 200 is a baselevel 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.
Units: 3

Grading: GSB Letter Graded
Instructors:
Skrzypacz, A. (PI)
;
Sugaya, T. (PI)
MGTECON 203: Managerial Economics  Accelerated
MGTECON 203 uses the same math as 200 (derivatives and algebra, and not much more) but uses it more often. Previous economics is not necessary, but it does help to be comfortable with simple mathematical models. The business world has become more quantitative and economicsoriented in the last 30 years, but many of the key ideas in economics, relating to topics such as pricing, monopoly, imperfect competition, game theory, moral hazard and adverse selection, public choice, externalities, risk aversion, capital market pricing and equilibrium, and auction theory can all be usefully approached with this relatively small amount of math. The key is for students to develop the small number of intellectual tools that enables one to analyze a wide variety of economic problems.
Units: 3

Grading: GSB Letter Graded
Instructors:
Bulow, J. (PI)
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, employersponsored insurance, the uninsured), medical malpractice and quality regulation, pharmaceuticals, the corporate practice of medicine, regulation of fraud and abuse, and international comparisons.
Units: 3

Grading: GSB Student Option LTR/PF
Instructors:
Kessler, D. (PI)
;
Bundorf, M. (SI)
MGTECON 343: The Evolution of Finance
This course provides a framework to understand how uncertainty and technology affect the evolution of finance (and businesses generally), and its illustration with heavy emphasis on recent developments and future trends. In recent years Myron Scholes has given about half the lectures with the other half given by prominent guests. The guest list changes year to year but 2016's list included David Booth, Howard Marks, Martin Chavez, James Manyika, Kevin Warsh, Tom Kempner, and Larry Summers.
Units: 3

Grading: GSB Letter Graded
Instructors:
Bulow, J. (PI)
;
Scholes, M. (SI)
MGTECON 349: Smart Pricing and Market Design
This course is an Advanced Applications option in the Economics menu. The focus of the course is on pricing mechanisms and the design of marketplaces. The pricing component of the course will handle both traditional topics, such as price differentiation, and more modern ones, such as dynamic pricing. In the market design component of the course, we will consider such topics as auctions (e.g., designing auctions for selling online advertising slots) and matching (e.g., designing mechanisms for matching students to schools).
Units: 3

Grading: GSB Letter Graded
Instructors:
Ostrovsky, M. (PI)
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 middleclass. 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, targ
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Poverty rates have fallen markedly in countries around the world, as more households have joined the lower middleclass. 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 cotaught 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.
Units: 2

Grading: GSB Letter Graded
Instructors:
Shaw, K. (PI)
;
Prennushi, G. (SI)
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.
Units: 3

Grading: GSB Letter Graded
Instructors:
Wilson, R. (PI)
MGTECON 612: Advanced Macroeconomics II
Modern macroeconomics of aggregate fluctuations in advanced economies. Current research on sovereign debt, fiscal policy and financial flows, low growth and stagnation, low interest rates, financial crises, unemployment fluctuations, and other timely topics. The course will be organized around the detailed study of recent research papers. Some lectures will be given by visiting macroeconomists. 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.
Units: 4

Grading: GSB Letter Graded
Instructors:
Di Tella, S. (PI)
;
Hall, R. (SI)
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.
Units: 3

Grading: GSB Letter Graded
Instructors:
Tonetti, C. (PI)
;
Schneider, M. (SI)
MGTECON 626: Continuoustime Methods in Economics and Finance
Continuoustime methods can, in many cases, lead to more powerful models to understand economic phenomena. The BlackScholes optionpricing formula is significantly more tractable than discrete time methods of option pricing based on binomial trees. There is an established tradition in continuoustime asset pricing, and there is increasing use of these methods in other fields, such as game theory, contract theory, market microstructure and macroeconomics.nnThe 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 continuoustime 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.nnWith 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
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Continuoustime methods can, in many cases, lead to more powerful models to understand economic phenomena. The BlackScholes optionpricing formula is significantly more tractable than discrete time methods of option pricing based on binomial trees. There is an established tradition in continuoustime asset pricing, and there is increasing use of these methods in other fields, such as game theory, contract theory, market microstructure and macroeconomics.nnThe 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 continuoustime 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.nnWith 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.nnCoursework will include biweekly problem sets and a takehome 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).
Units: 3

Grading: GSB Letter Graded
Instructors:
Sannikov, Y. (PI)
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