Have you ever wondered if people are *really* rational? For the last hundred years economic theory has been built on the underlying assumption that people are rational. The field of behavioral economics and decision making both challenge this fundamental assumption by showing in a variety context, people's judgments are not rational. In this brief six week course, we will go through an overview of some of the main points in the field exploring things like prospect theory, the endowment effect, hyperbolic discounting, priming, moral decision making, nonconscious priming, among a variety of other topics.
Basic theory of consumer behavior, production and costs, partial equilibrium analysis of pricing in competitive and monopolistic markets, general equilibrium, welfare, and externalities.Recommended for students planning to apply to graduate school in economics, accounting, or finance.
Provides an overview of the major areas in marketing. Introduces the concept of marketing as a means of creating value for consumers. Emphasis placed on understanding consumer needs and behavior. Coverage includes the major tools of the marketing mix: segmentation and positioning, product development and branding, channels of distribution, pricing, advertising, and communication strategies. Lectures, cases, guest speakers, and a computer simulation. Not open to Sloan graduate students. This course is an introduction to marketing: the study or practice of providing goods or services that satisfy human desires. To illustrate and discuss marketing concepts, we will read articles from scientific journals, chapters from marketing textbooks, newspaper clippings, and selections from popular literature. We will also use case studies to illustrate marketing principles and to apply marketing concepts to the real world. These case studies will involve a wide variety of products, including flowers, computer software, power tools, watches, and even contact lenses for chickens (seriously).
Marketing communications help to define an orgaisation's relationship with its customers. This unit emphasises the strategic importance of such communication and its long-term effect on consumers. Communication models can act as a predictive guide, but in the end it is important to recognize the autonomy and unpredictability of consumers.
This class presents microeconomic theory and applications of consumer and producer behavior and welfare analysis at an intermediate level. In addition to standard competitive models, we study deviations due to externalities, asymmetric information, and imperfect rationality. We apply this material to policy debates including minimum wage regulations, food stamp provision, trade protection, educational credentials, health insurance markets, and real estate markets.
" This introductory course teaches the fundamentals of microeconomics. Topics include consumer theory, producer theory, the behavior of firms, market equilibrium, monopoly, and the role of the government in the economy. 14.01 is a Humanities, Arts, and Social Sciences (HASS) elective and is offered both terms. "
Examine how consumer behavior is changing in response to new products and services enabled by smart technologies and what additional measures are needed to facilitate consumer acceptance and response, to engage businesses and drive the necessary commercial transactions for widespread acceptance of smart energy technology. (59 minutes)
Focus on theoretical work for studying operations planning and control problems. Topics vary from year to year, and include inventory theory, sequencing theory, aggregate production planning, production scheduling, multistage production/distribution systems, performance evaluation, and flexible manufacturing systems.
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