New Graduate Course
Stevens Institute of Technology
Approved by GCC 06-12-13
School:
Howe School of Technology Management
Course Title:
Economic Foundations of Management Research
Program:
Howe School Ph.D. Program
Course:
MGT735
Catalog Description:
This course focuses on developing theoretical knowledge and understanding of economic
concepts related to decision-making, consumer behavior, and competitive strategy. It
introduces the methods and techniques for analyzing economic activities. It aims to
improve the understanding of managerial decision-making processes by presenting
analytic tools by examining the principal theories of decision-making and strategic
behavior.
Course Objectives:
In this course, students will:
• Gain a theoretical foundation of decision-making processes and strategic behavior with a
focus on the applicability of economics to real life.
• Conceptually understand strategic behavior.
• Learn terms and concepts to analyze different decision scenarios.
• Apply decision-making techniques to different economic events.
• Use economic concepts to describe and analyze economic events and make decisions.
List of Course Outcomes:
After taking this course, students will be able to:
- Derive theory driven arguments for management research
- Evaluate economic concepts with critical thinking skills
- Understand terms and concepts that could help analyzing different economic scenarios
- Describe and analyze economic events and make decisions by applying economic
concepts.
Prerequisites: Only for accepted Ph.D. students
Cross-listing: None
Grading Percentages: HW
Class work
Mid-term
Final
Projects
Other
Class work (10%): Class discussion is an important aspect of this course. You are
expected to have done the readings and participate in class by expressing your
understandings and viewpoints
on the readings. In class discussion, content of your
discussion is most important. Silence in class will result in a low grade.
HW (40%): Individual Assignments
During the semester you will be given assignments which deal with particular aspects of
the topics dealt with in class that week. The purpose of these assignments is to explore
some key aspects taught in this class and to apply them in a “real” situation. Late
assignments will be downgraded by 5 points per day.
Final Exam (50%): In the last week of the course your progress will be assessed through
an exam. The exam will be conducted in class during lesson time. There is a two hour
time limit on the exam.
Credits:
3 credits
Other
For Graduate Credit toward Degree or Certificate:
Yes
No
Not for Dept. Majors
Other
Textbook(s) or References: See Reading in the sample syllabus.
Mode of Delivery:
Class
Online
Modules
Other
Program/Department Ownership: Ph.D. Program
When first offered: Spring 2011
Department Point of Contact and Title: Tal Ben Zvi, Associate Professor
Date approved by individual school and/or department curriculum committee: 05-06-13
Sample Syllabus: Associated reading materials are an example. They will change each time the
course is offered.
Week 1
Week 2
Topic
Introduction
Preference
Choice
Rationality
Reading
MWG: Ch. 1; DN: Ch. 1
and LR: Ch. 13; DN: Ch. 2
/
HW
Week 3
Week 4
Week 5
Week 6
Week 7
Week 8
Week 9
Week 10
Week 11
Week 12
Week 13
The Value of
Information;
Information
Structure
Utility Theory
Prospect Theory
Game
Theory:
Introduction
Games
with
Perfect
Information
Nash Equilibrium /
Mixed
Strategy
Equilibrium
Coalitional Games
and the Core
Collective Action
Games
with
Incomplete
Information
Games
with
Incomplete
Information
Dynamic Games /
Repeated Games
Week 14 Final Exam
A; KT
MWG: Ch. 6; LR: Ch. 2;
KT
MWG: Ch. 7
MWG: Ch. 8; DN: Ch. 3,4,5; FT: Ch. 1
LR: Ch. 4,5; OR: Ch. 2,3
LR: Ch. 6; DN: Ch. 9; OR: Ch. 13
OM: Ch. 1,2
MWG: Ch. 8; FT: Ch. 6;
OR: Ch. 11
MWG: Ch. 9; FT: Ch. 5; OR: Ch. 8,9
None
Required Readings
•
•
•
•
•
•
(MWG) A. Mas-Colell, M.D. Whinston and J.R. Green, Microeconomic Theory
Oxford University Press, 1995. ISBN-10: 0195073401; ISBN-13: 978-0195073409
(LR) R.D. Luce and H. Raiffa, Games and Decisions
Dover Publications, 1989. ISBM-10: 0486659437; ISBN-13: 978-0486659435
(DN) A.K. Dixit and B.J. Nalebuff, Thinking Strategically
W.W. Norton and Company, 1993. ISBN-10: 0393310353; ISBN-13: 978-0393310351
(FT) D. Fudenberg, and J. Tirole, Game Theory,
Cambridge, MA: MIT Press, 1991. ISBN-10: 0262061414; ISBN-13: 978-0262061414
(OR) M. Osborne, M. and A. Rubinstein, A Course in Game Theory Cambridge, MA:
MIT Press, 1994. ISBN-10: 0262650401; ISBN-13: 978-0262650403
(OM) O. Mancur, Logic of Collective Action: Public Goods and the Theory of Groups,
Cambridge, MA: Harvard University Press, 1965. ISBN-10: 0674537513; ISBN-13: 9780674537514
•
•
(A) N. Ahituv, “A Systematic Approach Toward Assessing the Value of an Information
System”, MIS Quarterly, Vol. 4, No. 4, 1980, pp. 61-75
(KT) D. Kahneman, D. and A. Tversky, “Prospect theory: An analysis of decisions under
risk”, Econometrica, Vol. 47, 1979, pp. 313-327