The course is designed to provide students with fundamentals of strategic analysis for business decision making. Students will learn how to recognize decision problems, how to represent the essential structures of decision situations, and how to analyze problems using decision-theoretic tools. Then, using foundations of psychology and behavioral economics, students will learn how to think effectively about the inputs to a decision analysis, whether or not to trust the analysis, and how to use the outputs of the analysis to guide actions by themselves and their firms. Finally, students will be asked to make effective, unaided intuitive decisions and to recognize the limits of their intuitive skills in applied settings. The course will use principles of game theory, cases and real world examples, and will develop students' skills in live negotiation analysis.
[(ECON 151 with min. grade of D) OR (ECON 211 with min. grade of D)]