Detailed study of theoretical and policy aspects of such topics as inflation, resource and product pricing, management, market structure, government-business relations, financial markets and international trade. May be repeated for credit with different topics. Topics include such things as weighted average forecasts, seasonal patterns, business cycle patterns, evaluation of qualitative policy events, procedures for estimating the effects of leading indicators, methods for detecting and treating unusual observations and methods for combining several forecasts to improve accuracy. A study of the formulation and implementation of business strategy. Topics include planning, control, economic analysis and organization theory.
Extensive use is made of case studies.
Management Fellows who will take HONR 400 should see chair or instructor. The economic principles used to analyze government's role in the economy are developed. Microeconomic theory is used to examine government tax and expenditure policies, especially as they affect resource allocation and income distribution. Both efficiency and equity questions are addressed. Topics include expenditure programs designed to affect the allocation of resources, e.g., national defense outlays, income distribution, e.g., food stamps, and the major forms of taxation, e.g., income and sales taxes.