Business Economics
Lally School of Management and Technology - MGMT-6300

Description
This course is an introduction to the macroeconomic environment in which businesses operate, and a survey of the basic microeconomic decision tools needed for successfully navigating in that environment. The macroeconomic environment is shaped by conscious governmental policy, predictable long term trends, and unpredicted "shocks." Learn how these forces combine to determine Gross Domestic Product (GDP), unemployment, interest rates, currency exchange rates, federal budget and foreign trade balances.

Microeconomics seeks to optimize firm objectives within the limits imposed by resources, technologies, and institutions. Its basic decision-making tools are optimization under constraints, empirical forecasting of demand and cost sensitivities, the analysis of competitive market structures, and strategic "game" theory. Government regulatory and tax policies are studied in terms of their effects on the firm.

Outcomes:
After taking this course, students should be able to:

1. Understand the effects of governmental macroeconomic and regulatory policies.
2. Understand current debates about such policies.
3. Measure and forecast the drivers of change in the demand for your product, and the costs of supplying it.
4. Develop numerical plans that can optimize firm outcomes in profits, sales, growth, and costs.
5. Be able to identify the chief constraints to such optimization, and to measure the dollar value of reducing these constraints.
6. Understand the competitive structure of one's own industry.
7. Understand the strategies of one's competitors and business partners - in order to ¡¦
8. Develop a coherent strategy, short term and long term, within one's own industry.

Note: This course may require lab sessions. More information will be posted on the course website in the near future.

Prerequisites
Some familiarity with elementary differential calculus, while useful, is not required. The mathematical techniques used in this class (optimization and regression analysis) can be performed through basic Excel programs.

Textbook(s)
Ordering Information

Format
Classes: 13 weeks, 13 sessions

Grading
Homework/Projects: 30%
First Half exam: 30%
Second Half exam: 30%
Class Participation: 10%

Computing
Email and World Wide Web access required for course communications, use of WebCT, and printing of course notes. Microsoft Excel and Word (Office 97 or later versions) will also be needed for the homework and exams. All class assignments must be submitted electronically.

Access to WebCT, Rensselaer's course management tool, is required. Please refer to this page for instructions on how to set up your computer for WebCT.

Who Should Enroll
This course may be used in your Plan of Study as follows:

Degree Programs
CSCI - elective with advisor pre-approval
CSYS - elective with advisor pre-approval
ELEC - elective with advisor pre-approval
EPOW - elective with advisor pre-approval
ESCI-MOT - elective with advisor pre-approval
ESCI-MSE - elective with advisor pre-approval
ITEC - elective with advisor pre-approval
MANE - elective with advisor pre-approval
MBA - core course
MGMT-MS - elective
MGTE - elective with advisor pre-approval
TCOM - elective with advisor pre-approval

This course is also open to non-matriculated students who meet the prerequisites.

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