Video: Market Perspectives

Course Overview

This case-based course applies market perspectives and economic analysis to contemporary issues. The cases explore concrete situations that highlight the challenges and tradeoffs of decision-makers. Issues explored include: education, urban development, illegal drugs, rent control, housing, drug pricing, racial references, corporate political action, social media, sea level rise, employment of people with disabilities, and the like. We explore situations in which businesses’ pursuit of profits both positively and negatively affect their communities, including their employees, local physical and social environments.

We use a collection of basic economic concepts including supply and demand, externalities, incentives, property rights, agency conflicts, and information asymmetries. We develop these tools and then apply them to contemporary issues, which enables the discussions to go beyond the generalities of headlines to grapple with practical solutions to specific problems. For example, instead of discussing general environmental challenges, we focus on how a small island community deals with the impact of sea level rise and related concerns, highlighting costs and benefits, property rights and the complexity of decision-making.

The course doesn’t push a political philosophy. Rather, it encourages students to discuss their own approaches using the tools that are frequently applied to business decisions. What to optimize, how to optimize, and who benefits or loses, are frequent concerns in our case discussions. There are rarely right or wrong answers but using the tools of business analysis can help frame the discussion productively so that we can gain a better understanding of our own perspectives, and the perspectives of those who favor a different approach.

Course Structure

The course is taught using case method, with traditional and multimedia cases along with occasional supplementary readings. 19 class sessions plus a paper. Classes meet on the Wednesdays and Thursdays of the Y-schedule (no Fridays).

Grading

50% based on class participation and polls

50% based on a paper

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