EMBA Managerial Economics & Business Ethics – Cotrugli
Background readings:
Course handouts: Managerial Economics and Business Ethics
Day 1
1. Incentives matter* +
Textbook reading: Chapter 1
2. Understanding cost* +
Textbook reading: Chapter 2
3. Auctions +
Hild, M., Dwidevy, A., and Raj, A., “The Biggest Auction Ever: 3G Licensing in Western Europe”, Darden Business Publishing, 2004 (£)
Discussion question: What are the alternatives to auctions?
Extra activity: The Dutch flower auction
Textbook reading: Chapter 3
4. Prediction markets +
Coles, Peter, Lakhani, Karim and McAfee, Andrew, “Prediction Markets at Google” Harvard Business School 9-607-088, August 20th 2007 (£)
Prediction Markets, February 2016
Textbook reading: Chapter 4
Day 2
Before the Macroeconomics class you should watch this video: and complete this quiz.
6 & 7. Monetary policy* +
“The Euro in Crisis: Decision Time at the European Central Bank” Harvard Business School case no. 9-711-049
The ECB During the Crisis, July 2021
Textbook reading: Chapter 7 and Chapter 8
8 & 9. Fiscal policy* +
Textbook reading: Chapter 9
10. Macro Policy Workshop +
Extra activity: NGDP masterclass
After the Macroeconomics class you should watch this video and complete this quiz.
Day 3
- Managerial Insights*
- Macro Risk*
- Markets: The First AI* +
- For this session there are 4 readings. You may find some of them tough going. But you’ll have some time in class as well. Please try to read them.
- “On the Origin of Money” (Carl Menger, 1892, Economic Journal, (2):239-55)
- “The Use of Knowledge in Society” (Friedrich Hayek, 1945, American Economic Review, 35(4):519- 530)
- “I, Pencil” (Leonard Read, 1958, Foundation for Economic Education)
- “What is Seen and What is Not Seen” (Frederic Bastiat, 1850, Paris: Guillaumin. This version taken from The Bastiat Collection, 2nd Ed., Mises Institute, 2007, pp. 1-11 only)
Here is a PDF copy of the reading pack which should be read:
- Group preparation
- Group presentations
Day 4 See Business Ethics.
Before the Business Ethics class you should read about these mini cases: and complete this form.
Note: Sessions marked with an asterix (*) have a lecture handout available in advance, which can be downloaded. Cases marked with a pound sign (£) are available through the Programme Office. Follow the + links for additional resources.