BEPP2030 - BUS IN GLOBAL POL ENVIR
This course examines the non-market components of business and the broader political, regulatory, and civil context in which companies function. This course addresses how businesses interact with political and regulatory institutions, as well as the general public, with a focus on the global economy. The first portion examines the realities associated with political economy and the actual making of laws and regulations by imperfect politicians and regulators. The second portion analyzes the economic rationale for legislation and regulation in the presence of market failures. The course covers specific market failures and potential solutions including government regulation.
BEPP2800 - APPLIED DATA ANALYSIS
This course will examine how and when data can be used specifically to infer whether there is a causal relationship between two variables. We will emphasize (a) the critical role of an underlying economic theory of behavior in interpreting data and guiding analysis, as well as (b) a range of advanced techniques for inferring causality from data, such as randomized controlled trials, regression discontinuity, difference-in-difference, audit study (mystery shopping) approaches and stock-market event studies. The issue of causality, and the relevance of thinking about models and methods for inferring causality, is just as central and important for "Big Data" as it is when working with traditional data sets in business and public policy. The emphasis will not be on proofs and derivations but rather on understanding the underlying concepts, the practical use, implications and limitations of techniques. Students will work intensively with data, drawing from examples in business and public policy, to develop the skills to use data analysis to make better decisions. All analysis will be conducted using R. The goals of the course are for students to become expert consumers able to interpret and evaluate empirical studies as well as expert producers of convincing empirical analysis themselves.