MGMT 214 - Market Dynamics and Technical Change

Institution:

University of Pennsylvania

Subject:

Description:

Prerequisite(s): Students need to have taken a first college course in economics. Multivariate calculus is generally useful in economic theory at this level, but does not carry significant weight in this course. Similarly, an understanding of basic linear algebra enhances the value of the linear programming analysis of the firm, but is not a prerequisite. This course applies tools of economic analysis to develop understanding of the processes of economic change in a market system. It examines the role of business firms as creators of economically valuable knowledge, and the relationships between firms and their market environments. Explicit attention to the dynamics of these relationships is a distinctive feature of the course. The intention is to give the student a good feel for "how the system works," i.e., for the key issues and shaping mechanisms in a market system undergoing change. Among the specific topics are linear programming analysis of the firm,organizational knowledge, industry evolution, information economics, and capturing the gains from innovation. The course emphasizes quantitative understanding and uses computer simulation and optimization techniques to promote that understanding. Mgmt. 214 is designed primarily for students who are not economics majors. It is not appropriate as the exclusive preparation in intermediate microeconomics for an economics major, or for any student who intends to do further work in economic theory at more advanced levels. There is definitely an overlap in content with other courses in intermediate microeconomics, or managerial economics. Nevertheless, the treatment is sufficiently distinctive to make it complementary to those other treatments for a student who is particularly interested in economic change, or is otherwise interested in acquiring a broader view of economics.

Credits:

3.00

Credit Hours:

Prerequisites:

Corequisites:

Exclusions:

Level:

Instructional Type:

Lecture

Notes:

Additional Information:

Historical Version(s):

Institution Website:

www.upenn.edu

Phone Number:

(215) 898-5000

Regional Accreditation:

Middle States Association of Colleges and Schools

Calendar System:

Semester

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