Ecn212 voice over pwr pt syllabus overview
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This micro syllabus provides an overview of the fundamentals of economics course. It outlines the required textbook, how to contact the professor, assignments including article analyses, chapter quizzes, discussion questions, and group assignments. Group assignments involve cooperative learning within assigned groups through discussion forums. Students must meet deadlines for group discussions and assignments. The professor aims to respond to emails and messages within 24 hours and provide feedback on assignments within 3 days. No late work will be accepted without prior arrangement, and non-participation for a week will result in being dropped from the course.
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Ecn211 winter12&13 voice over pwr pt syllabus overview v2
Ecn211 winter12&13 voice over pwr pt syllabus overview v2
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Ecn211 winter12&13 voice over pwr pt syllabus overview v2
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Ecn211 summer2013 voice over pwr pt syllabus overview
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BUS1431Introduction and PreferencesBUS143 Judgmen.docx
This document provides an introduction to the BUS143 class on judgment and decision making. It discusses why the professor chose to teach this class and gives an overview of some of the key topics that will be covered, including decision making processes, heuristics and biases, preferences, and loss aversion. It also outlines the course requirements, including participation, writing assignments, web assignments, and a final exam. The document aims to introduce students to the course content and expectations.
BUS1431Introduction and PreferencesBUS143 Judgmen.docx
BUS143
1
Introduction and Preferences
BUS143: Judgment and Decision Making
Ye Li
All rights reserved ®
Why you decided to take this class
“Decisions are the essence of
management. They’re what
managers do—sit around all
day making (or avoiding)
decisions. Managers are judged
on the outcomes, and most of
them—most of us—have only
the foggiest idea how we do
what we do.”
Thomas Stewart
Former editor (2002-2008),
Harvard Business Review
BUS143
2
Decision Making: Two Questions
• Why is decision making difficult?
• What constitutes a good decision?
Decision Making: Good Process
• What is a decision?
– A costly commitment to a course of action.
• Outcomes versus Process
Outcomes
Good Bad
Process
Good
Bad
Bad “luck”
Good “luck”
BUS143
3
Components of a Good Decision
• I have considered my ABCs
– Alternatives
– Beliefs
– Consequences
• I am devoting an appropriate amount of
resources
• I have avoided major decision traps
Decision Making Components: The ABCs
• Alternatives
– Identification and articulation
– Construction/refinement
• Beliefs
– Identification and quantification of uncertainties
– Information collection/gathering
• Consequences
– Identification of consequences (and objectives
addressed by consequences)
– When possible, quantification of tradeoffs among
objectives
BUS143
4
Decision Making: Good Process
• Putting it all together (for now)…
Good decision making is choosing the
alternative that best meets your objectives
in the face of uncertainty about what
consequences will ensue.
3 Perspectives on Decision Making
• Normative
– How should people make decisions?
Related concepts: rational; optimizing; forward-looking
• Descriptive
– How do people make decisions?
Related concepts: boundedly rational; limited cognitive capacity;
heuristics or rule-based; myopic
• Prescriptive
– How can we help people make better decisions?
– Prescriptive advice via practical applications, in…
Management
Marketing
Finance
HR
Life!
BUS143
5
Example
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– Imagine two 1-mile-long (1.61km) pieces of railroad track, put
end to end, and attached to the ground at the extremes.
When it gets hot, each piece of track expands by 1 inch
(2.54cm), forcing the pieces to rise above the ground where
they meet in the middle.
How high will the track be in the middle?
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– Pythagorean Theorem:
• Descriptive reality:
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• Prescription:
– Use normative rule (geometry). Don’t rely on intuition.
More Examples
• Normative rule:
– Lighter objects should
be judged as lighter.
• Descriptive reality:
– Sometimes our vision
tricks us.
• Prescription:
– Use an outside reference
or instrument
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strategies for
counteracting visual
illusions
Which box looks lighter?
BUS143
6
Class Philosophy
• Overarching goal:
– Help you to.
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BUS1431Introduction and PreferencesBUS143 Judgmen.docx
BUS1431Introduction and PreferencesBUS143 Judgmen.docx
BUS1431Introduction and PreferencesBUS143 Judgmen.docx
BUS1431Introduction and PreferencesBUS143 Judgmen.docx
Ecn212 voice over pwr pt syllabus overview
- 1. Micro Syllabus Overview (turn on computer speakers)
- 2. Text & Contact Information • Fundamentals of Economics – 5 edition by th Boyes & Melvin (Cengage / South-Western Publishing) Excellent entry-level college econ text • How to reach me, 24/7 – bdemory@mesacc.edu – Text Messaging: 520.505.1909
- 3. Assignments • Week #1 is very short, but so are the assignments - T.U.C.E. / Meet & Greet / Chapter 1 Quiz / Chapter 1 D.Q. • Article Analysis (4 for 160 points) – Bringing the real world to the classroom • Chapter Quizzes (8 for 160 points) – Learning new terminology • Discussion Questions (8 for 160 points) – Simulating classroom discussions 3 • Group Assignments and Peer Grading
- 4. Learning Teams ( Group Assignments – 4 for 200 points ) • Cooperative/Collaborative learning at it’s finest • All interaction is within your group forum • Jumping thru the hoops (i.e. required deadlines) – 11:00 p.m. Monday – group leader decided – 11:00 p.m. Tuesday – individual responses – 11:00 p.m. Wednesday – leader posts proposal – 11:00 p.m. Thursday – approve final answer – 11:00 p.m. Thursday – leader submits final answer • Group Peer Grading (80 points)
- 5. Policies & Procedures • Email and IM responses w/i 24 hours. • Feedback on assignments w/i 3 days. • No late work will be accepted unless arrangements are made in advance. • One week of non-participation leads to a drop.
- 6. Have a Great Semester! 6
- 7. Have a Great Semester! 6