Topics are chosen from business analytics topics that extend explorations of content in existing courses or allow exploration of content not duplicated in regular course offerings. May be repeated for credit with different topics. Prerequisites: Open to students by permission of instructor or to those who satisfy prerequisites determined by the instructor.
| Distribution Area | Prerequisites | Credits |
|---|---|---|
| Open to students by permission of instructor or to those who satisfy prerequisites determined by the instructor. | 1/4-1/2-1 course |
Traditional economics seems to assume that human beings have generally stable preferences, that we are well-off to the extent that those preferences are satisfied, and that we always act so as to maximize the satisfaction of our preferences. Behavioral economists argue that this is an inaccurate (or at least incomplete) view of human nature. We will first briefly examine the origins and (some of the) central principles of traditional economics. We will then consider some of the ways that, according to behavioral economists, traditional economics rests on a mistaken view of human nature. Finally, we will draw on ideas from behavioral economics to explore some important ways in which the free market and human nature interact, including: (1) the on-going "obesity epidemic", (2) the impact of American-style free market capitalism on families and children, (3) the rise of "bullshit jobs".
The course examines the ways the market impacts our social and political relations and the ways in which our legal institutions constrict and enable the market. Is the market a friend or foe of equality? What kind of freedom does the free market give us? Do businesses have an obligation to support socially desirable ends? Much of the coursework will be dedicated to tying Supreme Court case opinions to classical and contemporary political philosophy.
The highlight of this class is a semester-long, experiential project called the Ethics Project. The idea is simple: Think of something good to do and that adds value to the world. Then do it. To help you implement your project, the Prindle Institute for Ethics will make available to each group at least $600 in funding. This project gives you great freedom to be entrepreneurial, but also great responsibility. At the end you will need to justify the way you spent your time and money. How do you know you added value to the world? Why does it matter? The course content will complement the Ethics Project. In class we will think about different kinds of value, about how values might be measured, and the promise and dangers therein. We will address questions about cooperation and self-interest, as well as foundational questions about the role of business, the role of government regulation, and the role of markets. Thinking about these foundational questions and then implementing the Ethics Project is excellent career preparation. In some jobs, people tell you what to do. But as you advance in your career, you will have jobs where you have to identify what the most important problems are, and then solve them. That is what we will do in this class.