Information Guide 2010–2012

Table of Contents Maps...... Inside Front Cover Administration...... 1 Full-Time Faculty...... 2 Adjunct Faculty...... 12 M.B.A. Requirements and Core-Course Charts...... 16 Accelerated Professional M.B.A. Program ...... 18 Concentrations—M.B.A...... 19 Master of Science Programs...... 24 Joint- and Specialized-Degree Programs...... 31 Courses...... 32 International Exchange Programs...... 51 Admissions and Financial Aid...... 51 Student Services ...... 54 University of Rochester Equal Opportunity Statement...... 55 Contact Information...... Outside Back Cover

Information in this publication is current as of September 21, 2010 Simon Graduate School of Business Information Guide 2010–2012

CAMPUS AND AREA MAPS

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WHIPPLE PARK W. HENRIETTA RD. 15A ERIE CANAL 15 TO PITTSFORD CARDIOVASCULAR 390 RESEARCH INSTITUTE TO NEW YORK STATE THRUWAY INTERCHANGE #46 Simon Graduate School of Business Information Guide 2010–2012

THE ADMINISTRATION

MARK ZUPAN, Ronald W. Hansen, interests include marketing on the Internet, the Dean and Professor of Economics and Senior Associate Dean for Program Internet industry, strategic use of technology, Public Policy Development; William H. Meckling the use of standards in managing information systems, and accounting and financial Dean Zupan assumed his duties at the Simon Professor of Business Administration; information systems. His papers have appeared School on a full-time basis on January 1, 2004. Director of the Bradley Policy Research in the Journal of Computing, Management Science, He is responsible for the administrative and Center Decision Support Systems and IEEE Transactions on academic functions of the Simon School, and Dean Hansen is responsible for Simon’s inter- Computers, among other journals. serves as the leading advocate of the School’s national program development, undergraduate Prior to joining the Simon School, Dewan faculty, programs and students to the business program and the Technical Entrepreneurship was a faculty member at Northwestern community and other external constituencies. And Management (T.E.A.M.) M.S. program, University’s Kellogg Graduate School of Zupan served as dean and professor of and serves as area coordinator for the concen- Management. He is a member of INFORMS, economics at the University of Arizona’s Eller trations of Business Environment and Public the Association for Information Systems and College of Management from 1997 to 2003. Policy, Health Sciences Management and Inter Beta Gamma Sigma. Among his accomplishments at Eller were national Management. Dewan earned a B. Tech. degree from the highly successful fundraising efforts, a record He came to the School in 1971 as an assist Indian Institute of Technology, New Delhi; an of promoting scholarship, fostering innova- ant professor and became director of the M.S. degree with concentrations in Computers tion in academic programs and enhanced Systems Analysis Program in 1972. From 1977 and Information Systems and Operations community outreach. to 1986, he was the associate director of the Research from the University of Rochester; and Before his appointment at Arizona, Center for Research in Government Policy a Ph.D. in Business Administration from the Zupan taught at the University of Southern and Business, now the Bradley Policy Research University of Rochester. California’s Marshall School of Business, Center. He briefly left the Simon School to where he also served as associate dean of become the first recipient of the Merrell Dow master’s programs. He was a teaching fel- Professorship of Pharmaceutical Administra DELORES CONWAY, low in Harvard’s Department of Economics tion in the College of Pharmacy at The Ohio Faculty Associate Dean for Masters while pursuing his doctoral studies at M.I.T., State University (1986–88). Prior to his current Programs; Professor of Statistics and and he has been a visiting faculty member at Simon School appointment, he served as senior Real Estate Economics the Amos Tuck School of Business Admin associate dean for faculty and research for 21 istration at Dartmouth College. years. Professor Conway oversees the Admissions Zupan’s research interests include water Hansen is widely recognized for his scholarly and Career Management areas, in addition to policy, the influence of economics and ideo- research in drug-development policy and in the enhancing corporate outreach and visibility logical preferences on the political behavior of regulation of the pharmaceutical industry. He of the Simon School. She also works with voters and elected officials, industrial organi- helped to establish and collaborates on research students to create international learning/net- zation, regulation and political economy. He with the Tufts Center for the Study of Drug working opportunities. Her research interests has received research grants from the National Development. Hansen was on the editorial include statistics, real estate, health care man- Science Foundation and the Center for Inter board of the Journal of Research in Pharmaceutical agement, finance, law and labor markets and national Business Education and Research Economics. He was a member of the National her papers have appeared in many academic at the University of Southern California. He Advisory Council on Health Care Technology journals. is the co-author of two books: Microeconomic Assessment (1985–88) and the Committee Prior to joining the Simon School, Theory and Applications (with E. K. Browning), on the Children’s Vaccine Initiative, Institute Conway was a tenured faculty member at the published by John Wiley and Sons, and of Medicine, National Academy of Sciences University of Southern California (U.S.C.) Microeconomic Cases and Applications (with T. (1992–93). Marshall School of Business and the direc- W. Gilligan and A. M. Marino), published by Hansen earned a B.A. degree in mathematics tor of the Casden Real Estate Forecast at the HarperCollins. from Northwestern University, and an M.A. U.S.C. Lusk Center for Real Estate. While Zupan is also the author of numerous degree in economics and a Ph.D. in economics teaching statistics in the M.B.A. Core, she scholarly articles which have appeared in from the University of Chicago. received U.S.C.’s highest teaching honor, the leading publications including the American University Associates Award for Teaching Economic Review, Journal of Law and Economics, Excellence, which is awarded each year to Rand Journal of Economics, Public Choice, and Rajiv M. Dewan, only two of the university’s faculty. Before her U.S.C. appointment, she served on the faculty Journal of Regulatory Economics. His opinion Senior Associate Dean for Faculty pieces have appeared in such outlets as The of the Graduate School of Business at the Wall Street Journal, The New York Times, the and Research; Chairman, Ph.D. University of Chicago. She is an elected fellow Financial Times of London, Los Angeles Times, Program; Professor of Computers and of the American Statistical Association and a Arizona Republic, BusinessWeek.com, Democrat and Information Systems former chair of the Business and Economics Chronicle (Rochester, N.Y.) and San Francisco Professor Dewan is responsible for faculty Statistics Section. She has also served on the Chronicle. He has served as co-editor of the affairs, faculty research and faculty recruiting editorial boards of major academic journals journal Economic Inquiry, and is on the edito- and development. including the Journal of the American Statistical rial boards of Public Choice, Journal of Business He has teaching and research interests in Association. Economics and Research in Law and Economics. electronic commerce, organizational issues in In addition to her research in statistics and Zupan earned a B.A. degree in economics management of information systems, the infor- financial modeling, she is widely respected from Harvard University and a Ph.D. in eco- mation technology industry and financial infor- for her research reports on the commercial nomics from the Massachusetts Institute of mation systems. He has won three Best Paper and residential real estate markets in Southern Technology. Awards for research, done in collaboration California. She is frequently interviewed by the with his colleagues at the Simon School, in the national news media for her viewpoints on the use of information systems standards in orga- real estate markets and within the last couple nizations, redesign of business processes and of years was quoted by The Wall Street Journal, management of Web sites. His current research the New York Times, Bloomberg, BusinessWeek, Forbes, the Chicago Tribune, the Los Angeles Times,

1 Simon Graduate School of Business Information Guide 2010–2012 the Washington Post, Investors Business Daily and tive education, student services, and marketing Budd is a trustee of the Max and the San Francisco Chronicle, and has appeared and communications. Marian Farash Charitable Foundation and on CNN, the CBS Evening News, the Today Budd joined the University of Rochester in the Consortium for Graduate Study in Show, MarketWatch and CNBC. Recently, 1979 and the Simon School in 1988. Her work Management, and is a board member of Real Estate Southern CA Magazine listed her as in developing relationships across the globe Junior Achievement of Rochester. Her past one of the “50 Women of Influence in Real has greatly expanded awareness of and sup- and present board affiliations also include the Estate” in California. port for the School. After a four-year assign- Memorial Art Gallery, SUNY Geneseo Parents Conway earned two undergraduate degrees ment as vice president of development for the Council, School of the Arts, the Jewish Com in mathematics, statistics and computer University of Rochester, the University’s first munity Center, Jewish Family Services, Friends science from the University of Wisconsin– female vice president, Budd returned to Simon of Strong and Golisano Children’s Hospital, Madison and Master’s and Ph.D. degrees in to head up advancement and external relations many organizations for which she continues to statistics from Stanford University. in 2001. She was named associate dean in volunteer. January 2004. Budd holds a B.S. degree in medical In her 20-year tenure at Simon, Budd has technology from Rush Medical College and HOLLIS S. BUDD, worked with successive deans to help secure has completed graduate coursework at the Associate Dean for M.B.A. the funding crucial for growth and develop- University of Rochester. Administration and External Affairs ment of the institution, including support for the building of Schlegel and Gleason Halls, Dean Budd oversees the administration of endowed professorships, scholarship support executive M.B.A. programs, non-degree execu- and continued operating dollars.

THE FULL-TIME FACULTY PAULO ALBUQUERQUE, with self-customizable products, competition cent out of a total of 12,637 individuals). In Assistant Professor of Marketing between intermediaries, and an examination 2002, three of his published papers received of restaurants’ incentives to offer reservations. the Journal of Financial Economics All Star Paper Professor Albuquerque’s research interests Award (based on number of citations through include the study of new product introduc- B.A., Economics, 2001). tions, spatial and temporal diffusion of new Wayne State University From 1989 to 1991, he was chairman of brands using multimarket information, and Ph.D., Managerial Economics and Strategy, the finance department and research director heterogeneity in the behavior of consumers Northwestern University at the University of Utah’s Garn Institute of and firms across geographic markets. (Kellogg School of Management) Finance. Prior to his position at the University His current research focuses on consumer of Utah, Brickley was an associate profes- switching patterns to new brands that have sor of economics at the Simon School. He is been progressively been introduced across James A. Brickley, chairman of the Faculty Curriculum Commit local markets in the United States. He is also Gleason Professor of Business tee. presently investigating the impact of geo- Administration; Professor of Brickley is a past winner of the Simon graphic distance between car dealerships and Economics and Management and School’s Distinguished Teaching Award. He consumers on their car purchasing decisions of Finance; Area Coordinator, has also been listed multiple times on the in the California market. Competitive and Organizational School’s Teaching Honor Roll. Prior to pursuing his Ph.D., Albuquerque Strategy In addition to his academic achievements, worked as a product manager and trade mar- Brickley has been a consultant to major corpo- keting manager at a multinational company in Professor Brickley has research and teaching rations and law firms on organizational, fran- Lisbon, Portugal. interests in the economics of organizations, chising, valuations and antitrust issues. He has corporate governance and compensation B.A., Management, also held various positions in government in policy, corporate finance, franchising and the state of Oregon, including executive direc- Portuguese Catholic University banking. His papers have been published in Ph.D., Marketing, tor of the Jackson-Josephine County C.E.T.A. the Journal of Business, the Journal of Law and Program, public transportation planner for the University of California, Los Angeles Economics, The Journal of Finance, the Journal of (Anderson School of Management) Rogue Valley Council of Governments and Accounting and Economics, the Journal of Financial economic analyst for an economic develop- Economics, the Journal of Economic Perspec tives, ment district. the Journal of Economic Behavior and Organization, ALEXEI ALEXANDROV, the Journal of Risk and Insurance, the Journal B.S., Economics, Assistant Professor of Economics and of Financial and Quantitative Analysis, Financial University of Oregon Management Management and the Journal of Corporate Finance. M.S., Economics, University of Oregon Professor Alexandrov has been at Simon since The fifth edition of Managerial Economics and Organizational Architecture (authored by Ph.D., Finance, 2007. He teaches Managerial Economics for University of Oregon the part-time students and B2B pricing for Brickley, Clifford W. Smith Jr. and Jerold L. the full-time students. The last time he taught Zimmerman) was published by McGraw-Hill/ Managerial Economics, he had received a 5/5 Irwin in 2009. Brickley, Smith, Zimmerman teaching score from every student and was on and Janice Willett authored a trade version GEORGE R. COOK, Simon’s Teaching Honor Roll. of this text entitled Designing Organizations to Executive Professor of Business Alexandrov’s research interests include Create Value, published by McGraw-Hill in Administration incentives of firms to make their products 2003. Brickley is associate editor of finance and accounting journals. A study published in Professor Cook’s teaching interests are in the compatible (or standardize) in industries with areas of marketing, management, sales manage- network effects, outsourcing with economies Financial Management (Autumn 2001) reported that Brickley was among the most cited ment, marketing communications, services mar- of scale, and firms competing for consumers keting, industry/vertical marketing, industrial/ with self-control problems. His dissertation researchers in leading finance journals over the 25-year period of 1974 to 1998 (top one per- organizational psychology and TeleBusiness. included chapters on strategic competition He has taught at Boston University, Nazareth

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College, St. John Fisher College, Roberts B.S., Operations Research and Industrial B.S., Mechanical Engineering, Wesleyan College, SUNY Geneseo, Keuka Engineering, University of Rochester College and Rochester Institute of Technology, Cornell University M.M.E., Mechanical Engineering, where he has served as the evening chairperson Ph.D., Operations Research, Cornell University for the Marketing Program. He was a distin- Stanford University Ph.D., Industrial Engineering, guished professor at R.I.T. He instructs both at Cornell University the undergraduate and graduate level. Cook was employed by the Ford Division of Paul Ellickson, the Ford Motor Company for 10 years in vari- Assistant Professor of Economics and Harry Groenevelt, ous marketing and management assignments of Marketing Associate Professor of Operations both in the operations side of the business and Management in the Headquarters Marketing Staff. Professor Ellickson’s research interests lie at He recently retired from the Xerox the intersection between quantitative market- Professor Groenevelt has interests in health Corporation after 30 years of service in numer- ing and industrial organization, with a focus care operations, logistics and supply chain ous sales, marketing and customer service on using structural modeling to understand management (including reverse logistics); assignments including: district manager, divi- the forces that drive strategic interaction and service system management and design; and sion manager, industry marketing, general optimal decision making. He is particularly quality management. He has been a consultant manager, customer services marketing, division interested in modeling the importance of on operations management issues for numer- manager of national account service and mar- dynamic and spatial competition in retail trade. ous manufacturing and service companies keting manager, TeleBusiness. Ellickson’s research has been published (including hospitals and other health care He has served as a president of the in various academic journals including the providers), as well as the city of Amsterdam, Rochester, N.Y., chapter of the American RAND Journal of Economics, Marketing Science, the Netherlands. He has had articles pub- Marketing Association and serves on the new Marketing Letters and the International Journal of lished in Management Science, Operations Research, business books review board of the Journal Industrial Organization. the Journal of Applied Probability, the European of Consumer Marketing. Cook has recently Before joining the Simon School in 2009, Journal of Operations Research and other journals. completed a marketing case study on “JOLT, Ellickson was an assistant professor of eco He wrote the chapter on “The Just-in-Time America’s Original Energy Drink!” that should nomics at Duke University. System” for Volume 4 of the Handbooks in Operations Research and Management Science on be published soon. He has served as a member A.B., Economics and Mathematics, logistics of production and inventory. of the Business Advisory Council for the John University of California at Berkeley Wiley School of Business at SUNY Geneseo. Ph.D., Economics, B.S., Econometrics, He was a member of the R.I.T. President’s Massachusetts Institute of Technology Vrije Universiteit, Amsterdam, Speakers Bureau and speaks on the subjects of The Netherlands quality, customer satisfaction, customer services M.S., Econometrics, marketing, affinity marketing and telebusiness. Marshall Freimer, Vrije Universiteit B.S., Business Administration, Professor of Management Science Ph.D., Operations Research, Indiana University and of Computers and Information Columbia University M.B.A., Marketing Systems (retired) The Ohio State University Professor Freimer has teaching and research Dan Horsky, interests in applied probability and optimiza- Benjamin L. Forman Professor of Gregory Dobson, tion. He currently utilizes some of this work Marketing and Area Coordinator, in the analysis of problems in information Associate Professor of Operations systems and marketing. His work appears in Marketing Management management, engineering, economics, statistics Professor Horsky has primary research interests Professor Dobson’s current work concentrates and mathematics journals. He is co-author, in the analysis of consumer and firm behavior on the application of process improvement with Leonard S. Simon, of the book Analytical as they relate to marketing activities. He has principles to health care and other industries. Marketing. He has held a Ford Foundation applied stochastic models to describe consum- The methodology employed is known as “Six Faculty Fellowship and has won the Simon ers’ brand-switching behavior. He has conduct- Sigma,” which refers to a set of tools for School Superior Teaching Award. ed studies of sales response to advertising and doing fact-based decision making in process salesforce efforts, examined optimal advertising A.B. (summa cum laude), Mathematics, improvement. He teaches an elective course and salesforce policies and studied the estima- Harvard University on Six Sigma and Lean as well as the core tion of multiattribute models and the optimal Ph.D., Mathematics, Operations course. He remains interested in positioning of new brands. Horsky’s research Harvard University the interface of operations and marketing. on the effects of price, income and informa- Examples include work on the management tion on the diffusion of new durable products of product variety, product line design, and has been funded by the National Science the interface of production and distribution. J. William Gavett, Foundation. His past work was in job shop scheduling Professor Emeritus of Operations Horsky’s publications have appeared in and batch manufacturing. His articles have Management Management Science, Marketing Science, the Journal appeared in Management Science, Marketing Professor Gavett held dual appointments in of Marketing Research and the Journal of Business. Science, Operations Research, Manufacturing and the Simon School and the Department of In 1991, Horsky and his co-author, Moshe Service Operations Management, and Transportation Preventive, Family and Rehabilitation Medicine Givon, received the John D. C. Little Award Science. He is associate editor for Interfaces at the University of Rochester School of Med for “Untangling the Effects of Purchase and a member of the editorial board of the icine and Dentistry. He is involved in the man- Reinforcement and Advertising Carryover,” International Journal of Services and Operations agement of Flower City Habitat for Humanity, which was selected as the best marketing- Management and Operations Management Education a private non-profit agency that builds afford- related paper published in 1990 in either Review. He is a member of INFORMS, ASQ, able housing for low-income families. Marketing Science or Management Science. Horsky and Beta Gamma Sigma. received the John D. C. Little Award again in 1993 jointly with his co-author, Paul Nelson, for “New Brand Positioning and Pricing in an

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Oligopolistic Market.” Horsky is a member of Foundation Resident Management Fellow at ANZHELA KNYAZEVA, the editorial board of Marketing Science. the Simon School from January to June 1987. Assistant Professor of Finance Horsky has taught in M.B.A. and Executive In addition, Jarrell was a Research Fellow under M.B.A. programs in the U.S., the Netherlands, Professor George J. Stigler at the University of Professor Knyazeva has research interests in Switzerland, Australia and Israel. Based on his Chicago’s Center for Study of the Economy corporate finance. Her recent research exam- achievements in research and teaching, Horsky and the State from 1981 to 1983, as well as a ines issues in payout, corporate governance and has been named a University Mentor and senior economist with Lexecon Inc., a Chicago firm investment decisions. received the Executive Development (M.B.A.) economics consulting firm specializing in M.A., International Policy Studies, Program Class of 1987 Superior Teaching Antitrust and Securities litigation from 1983 to Stanford University Award. He has consulted on marketing-related 1984. Ph.D., Economics, topics, in particular on consumer multiattribute Jarrell served as the chief economist of New York University brand choice and on life cycles of new con- the U.S. Securities and Exchange Commission (Stern School of Business) sumer durables, with firms worldwide. (S.E.C.) from April 1984 to January 1987. Before that, he was a member of the S.E.C. B.S., Industrial Engineering, Advisory Committee on Tender Offer Policy Technion, Israel Institute of Technology from February through July 1983. He has DIANA KNYAZEVA, M.S., Operations Research, consulted with the Federal Trade Commission Assistant Professor of Finance Technion, Israel Institute of Technology and has served as an adjunct professor at Professor Knyazeva is a recent graduate of Ph.D., Industrial Administration, Georgetown University School of Law. Purdue University New York University. Her research interests are Jarrell has published dozens of articles on in corporate finance with a focus on corporate economic and finance topics in scholarly aca- governance, firm investment behavior and demic journals, as well as the popular media, analyst following. Her teaching interests are in Thomas H. Jackson, and is an expert on mergers and acquisitions, corporate and international finance. Distinguished University Professor and hostile takeovers, the economics and regula- She is a member of the American Finance President Emeritus tion of financial markets, financial valuation Association and the Salomon Center for the Thomas H. Jackson, president of the and microeconomic theory and application. Study of Financial Institutions. Jarrell frequently serves as an expert witness on University of Rochester from 1994 to M.A., International Policy Studies, 2005, holds faculty positions in the William financial-economic issues in business litigation, including financial valuation of publicly traded Stanford University E. Simon Graduate School of Business Ph.D., Economics, Administration and in the University’s securities, securities fraud, contract damages and criminal inside-trading cases. New York University Department of Political Science. (Stern School of Business) Before he became Rochester’s ninth presi- B.S., Business Administration, dent, Jackson was vice president and provost University of Delaware of the University of Virginia, which he first M.B.A., Economics and Finance, joined in 1988 as dean of Virginia’s School of LEONARD KOSTOVETSKY, University of Chicago Assistant Professor of Finance Law. He had been professor of law at Harvard Ph.D., Business Economics, from 1986 to 1988 and served on the Stanford University of Chicago Professor Kostovetsky’s main interests are University faculty from 1977 to 1986. in financial economics. Several of his papers A 1972 graduate of Williams College, focus on the way that political beliefs and Jackson earned his law degree from Yale Roy Jones, connections affect the decisions of financial in 1975. He first clerked for U.S. District Clinical Assistant Professor of investors and corporate managers. In addi- Court Judge Marvin E. Frankel in New York Computers and Information Systems tion, he is also conducting research on the in 1975–76, and then for Supreme Court fast-growing industry of socially responsible Justice (and, later, Chief Justice) William H. Professor Jones’s current research studies mar- investing and has written on recent changes in Rehnquist in 1976–77. kets for information goods and the impact of the asset management industry. Jackson is the author of bankruptcy and development costs and the complexity of the commercial law texts used in law schools development process on market structure. He is A.B., Economics, across the country, and served as Special broadly interested in the information industries, Princeton University Master for the U.S. Supreme Court in a dis- in particular the economics of information sys- M.A., Economics, pute involving every state in the country over tems, electronic commerce, and the evolution Princeton University the disposition of unclaimed dividends held of the information technology industry. Ph.D., Economics, by brokerage houses. Before pursuing his Ph.D., Jones was a Princeton University lecturer for the Stanford University computer B.A., American Studies, science department. In addition, he founded Williams College a relational database consulting firm. In this Phillip J. Lederer, J.D., capacity, he worked with Fortune 500 firms and Associate Professor of Operations Yale University start-ups. Management B.A., History, Professor Lederer has research interests in Gregg A. Jarrell, Stanford University operations management and its integration Professor of Finance and Economics M.S., Computer Science, with economic theory. His current research Stanford University focuses on three areas: the financial justifica- Professor Jarrell has been a professor of Ph.D., Operations, Information and tion of manufacturing technology, performance finance and economics at the Simon School Technology, evaluation in operations and competition since 1988, where he also was assistant profes- Stanford University in network-based industries. His work has sor from 1977 to 1981. Jarrell served as director appeared in Econometrica, the International Journal of the Simon School’s Managerial Economics of Flexible Manufacturing Systems, the Journal of Research Center from 1988 to 1990, and as Manufacturing and Operations Management, the director of the Bradley Policy Research Center Journal of Operations Management, Operations from 1990 to 1994. Also, he was the A.T.&T.

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Research, Operations Research Letters, Regional Science John B. Long Jr., susan feng lu, and Urban Economics and Transportation Science. Frontier Communications/Rochester Assistant Professor of Economics and Lederer is associate editor of the International Telephone Professor of Business Management Journal of Production Economics and an occasional referee for Econometrica, the Journal of Accounting Administration; Professor of Finance Professor Lu is an economist specializing in and Economics, Management Science, Operations and Economics; Area Coordinator, industrial organization and economics of orga- Research and the Review of Economic Studies. He Applied Economics nization. Her research interests mainly concern is a former assistant professor of business Professor Long has research interests primar- how information problems affect individual administration at the Darden Graduate School ily in the area of financial economics. In his behavior and the organization of firms and of Business Administration at the University of published articles, he has addressed many markets, especially the structure of those indus- Virginia. of the financial decision problems faced by tries related to health care. individuals and firms. These include total sav- Her current research focuses on two lines B.S., Physics, concerning incentives under information asym- State University of New York at Stony Brook ings and portfolio-selection decisions (with particular emphasis on income tax implications metry. The first is on the long-term care indus- M.S., Applied Mathematics, try. In a series of papers based on the introduc- Northwestern University and the performance of sophisticated port folio-selection techniques), investment-project tion of the Nursing Home Quality Initiative Ph.D., Applied Mathematics, (a report card policy) in the United States in Northwestern University evaluation and dividend-policy choice. In other articles, he addresses the behavior of relative 2002, she studies the effect of information to asset prices, the measurement of “abnormal” consumers on the behavior of nursing homes asset returns, the implications of taxes and under different organizational forms. In the edward x. li, inflation for common stock prices and the second line of research, she studies the incen- Assistant Professor of Accounting term structure of interest rates. With Charles I. tives of managers in China during the transi- Professor Li has research interests in securities Plosser, Long has done theoretical and empiri- tion from the planned economy to the market laws and Securities and Exchange Commission cal research on fundamental interpretations economy. (S.E.C.) regulations, information intermediar- of fluctuations in economic activity (business She has done fieldwork in the areas of nurs- ies, corporate disclosure choices and capital cycles). Long is a past editor and advisory edi- ing home quality investigation in the greater markets. His teaching interests are in the areas tor of the Journal of Financial Economics and a Chicago area and the state owned enterprises of financial accounting and financial state- member of Beta Gamma Sigma. (S.O.E.) in the process of privatization in ment analysis. China. One of his current research areas is corpo- B.A., Mathematics, Her teaching interests include econometrics rate filing disclosures and information dissem- Rice University and statistics, health care strategy, business in ination process. He recently published a paper, Ph.D., Industrial Administration, emerging markets, and nonprofit management. Carnegie Mellon University “Market Reaction Surrounding the Filing of B.A., Economics, Periodic S.E.C. Reports,” at The Accounting Beijing University Review with K. Ramesh. Along this line, he is B.A., International Relations, working on another paper examining the role Mitchell J. Lovett, Assistant Professor of Marketing Beijing University of newswires in screening and disseminating M.A., Economics, value-relevant information in the periodic Professor Lovett’s teaching interests include Beijing University S.E.C. reports. Another research area of his is marketing research, marketing intelligence, Ph.D., Managerial Economics and Strategy, on firms’ disclosures of future prospects. In marketing strategy and consumer behavior. His Northwestern University one study, he explores how firms use mate- research interests include learning by consum- rial contracts filings as a disclosure device to ers, voters and firms and the influence of that reveal future prospects. In another study with learning on behavior. Current projects inves- RAVINDRA N. MANTENA, C. Wasley and J. Zimmerman, he examines tigate the following research questions: How Assistant Professor of Computers and the circumstance in which management issues does changing product quality affect consumer Information Systems earnings forecasts for non-voluntary incen- learning, purchase decisions and brand equity? tives. What dynamic learning challenges constrain the Professor Mantena studies economics of Li received a Graduate School Dissertation firms’ ability to generate value from market- digital and information-rich products. His Completion Fellowship and a Department ing learning? Why do candidates use negative research explores how the increasing informa- of Accounting and Information System political advertising more often the more com- tion technology content in products alters Student Research Award from Michigan State petitive the race? These research projects have competition, strategy and market structure. University in 2007. He holds the Certified been presented at the Marketing Dynamics Recent research has focused on issues of pric- General Accountant of Canada and the Conference and Marketing Science Conference. ing, product design and entry in converging Chartered Financial Analyst designations. Lovett was the Sheth Doctoral Consortium digital markets, and also on price and demand Fellow for Duke University in 2007 and in 2006 evolution in network industries. In addition, B.S., Accounting, he also has research interests in measuring Tsinghua University (Beijing) received the Institute for the Study of Business Markets’ Research Grant Silver Medalist Award, decision performance, revenue management M.S., Accounting, and information economics. Prior to pursuing Tsinghua University (Beijing) with Chris Moorman, for their project on marketing learning. his Ph.D. in information systems, Mantena M.S., Agricultural and Consumer Economics, worked as a sales manager for a consumer University of Illinois B.A., Economics, Mathematics, German, goods multinational firm and founded an Ph.D., Accounting, Ohio Wesleyan University aquaculture company in India. Michigan State University M.B.A., Boise State University B.E. (honors), Electrical Engineering, Ph.D., Business Administration, Birla Institute of Technology and Science Duke University (India) M.B.A., Business Management, Indian Institute of Management (India) M.Phil., Ph.D., Information Systems, New York University

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Lawrence J. Matteson, tractual arrangements in the grocery industry, DUNCAN T. MOORE, Executive Professor of Business and the incentive effects of contests. Vice Provost for Entrepreneurship, Administration Miklós-Thal’s research has been published Rudolf and Hilda Kingslake Professor or is to appear in the Journal of the European Professor Matteson brings to the Simon School Economic Association, the International Journal of of Optical Engineering, Professor of over 25 years of experience in technology and Industrial Organization and Economic Theory. Biomedical Engineering, Professor of manufacturing management and in strategy Her main teaching interest lies in pricing Business Administration, and Area development in large corporations. He teaches and industrial economics. Prior to joining Coordinator, Entrepreneurship corporate strategy, economics of competitive the Simon School, Miklós-Thal taught at the Professor Moore is the former dean of the strategy, marketing strategy and negotiation University of Mannheim, Germany. She was School of Engineering and Applied Sciences theory and practice in both the regular M.B.A. also a postdoctoral fellow at the European and the former director of The Institute of and Executive M.B.A. programs. Matteson University Institute in Florence, and a visit- Optics. He is a past president of the Optical was previously senior vice president and man- ing scholar at the MIT Sloan School of Society of America. From 1997 to 2001, he ager of electronic imaging at Eastman Kodak Management. served as associate director for technology Company, which he joined in 1965. He holds in the White House Office of Science and an M.S. degree in electrical engineering from Propaedeuse, International Economic Studies, Maastricht University Technology Policy for the Clinton Admin Rensselaer Polytechnic Institute and received istration, where he worked on the Next the Hugh H. Whitney Award for highest aca- Propaedeuse, Econometrics, Maastricht University Generation Internet, Clean Car Initiative, new demic honors from the School’s Executive construction materials, and NASA. From M.B.A. Program in 1979. He serves on several M.A., Economics, Maastricht University 2002 to 2004, he served as president and chief boards and is active as a management consul- executive officer of the Infotonics Technology tant. D.E.A., Economic Theory and Econometrics, University of Toulouse 1 Center Inc., an industry, academia and gov- B.S., Electrical Engineering, Ph.D., Economics, ernment partnership to foster cutting-edge Union College University of Toulouse 1 research, prototyping of new technology and M.S., Electrical Engineering, economic development in upstate New York. Rensselaer Polytechnic Institute Moore teaches an entrepreneurship course M.B.A., Executive Development Program, Sanjog Misra, to a combined class of engineering graduate University of Rochester Associate Professor of Marketing and students and M.B.A.’s. Applied Statistics B.A., Physics, University of Maine at Orono RYAN McDEVITT, Professor Misra’s current research involves a theoretical and empirical investigation of M.S., Optics, Assistant Professor of Economics and University of Rochester Management marketing related issues. He is particularly interested in modeling the strategic decisions Ph.D., Optics, Professor McDevitt’s research focuses primar- made by managers in salesforce and distribu- University of Rochester ily on the field of empirical industrial organi- tion environments in response to consumer zation. He has conducted large-sample analy- demands and competitive pressure. In addition, ses of firms’ responses to changes in their he is interested in the econometric analysis of Paul Nelson, reputations and of the correlation between a discrete and qualitative data, from both classical Clinical Professor of Marketing firm’s name choice and its quality. In a sepa- and Bayesian perspectives. Professor Misra’s Professor Nelson’s teaching and research inter rate line of research, Professor McDevitt and research has been published or is to appear ests are concentrated on the multi-attribute co-authors have estimated structural models in various scholarly journals such as Marketing model of consumer behavior, brand man- of differentiation and entry in various mar- Science, Quantitative Marketing and Economics, the agement, product positioning and pricing, kets, including health care and venture capital. International Journal of Research in Marketing, outsourcing and the Internet. Nelson directs In addition, Professor McDevitt has collabo- Marketing Letters, IIE Transactions and the Journal the Brand Management Program at Simon. rated with Shane Greenstein at Northwestern of Law and Economics, among others. He recently had marketing articles published University on several policy papers related to Misra has also used his research to design in Marketing Science, Management Science and the the deployment of broadband Internet, both and implement sophisticated analytical and Journal of Retailing as well as philosophy and domestically and abroad. econometric models for firms such as Xerox, information systems journals. He has served Previously, Professor McDevitt taught Sprint, IMS Health, A. T. Kearney and Lucent as a reviewer for numerous journals, including competitive strategy at the Kellogg School of Technologies, with an aim of helping them Marketing Science, Management Science and the Management and was an analyst in Morgan make better marketing decisions. Journal of Consumer Research. Nelson and his Stanley’s Investment Banking Division. B.A., Economics, co-author, Dan Horsky, won the John D. C. B.A., Economics, Ravenshaw College, India Little Award for the best paper published in Williams College M.B.A., Marketing, 1992 in Management Science or Marketing Science, Ph.D., Economics, FSM, New Delhi, India for their paper, “New Brand Positioning and Northwestern University M.S., Statistics, Pricing in an Oligopolistic Market.” Nelson State University of New York at Buffalo has also won the Frank M. Bass Award for Ph.D., Marketing, the best published marketing paper based on .Jeanine Miklós-Thal, State University of New York at Buffalo a dissertation. Nelson previously taught at the Assistant Professor of Economics and Krannert Graduate School of Management at Purdue University. He has been inducted into of Marketing Beta Gamma Sigma, Omicron Delta Epsilon, Professor Miklós-Thal’s research interests Pi Mu Epsilon and Phi Beta Kappa. include industrial economics, marketing and B.A., Mathematics, Economics and Business, the economics of organizations. She is par- Macalester College ticularly interested in the impact of marketing M.S., Business Administration, decisions on customers’ quality perceptions, University of Rochester the competitive implications of common con- Ph.D., Business Administration, University of Rochester 6 Simon Graduate School of Business Information Guide 2010–2012 boris nikolov, He is a member of the New York State Science, Manufacturing and Service Operations Assistant Professor of Finance and Monroe County Bar Associations, Beta Management, IIE Transactions, the European Gamma Sigma, the Scribes Society of Legal Journal of Operational Research, the International Professor Nikolov has research interests in Writers, and the Academy of Legal Studies in Journal of Operational Research, Production and theoretical and empirical corporate finance. Business. He is licensed to practice law before Operations Management and the Communications His recent resarch investigates the effects of the courts of New York State and the Federal of the Association of Computing Machinery. real market frictions and agency conflicts on Court of the Western District of New York. Pinker teaches the core M.B.A. course on firms’ financing, cash holdings and investment Oliveiri is the author of the revised edition framing and analyzing business problems. In policy. His teaching interests are in corporate of Nimmer’s Commercial Asset-Based Financing the past, he has taught courses on business and entrepreneurial finance. (Thomson/West), a leading legal treatise. His process design, telecommunications technol- Prior to joining the Simon School, Nikolov research interests are in the areas of law and ogy and spreadsheet modeling at the Simon spent one year as a postdoctoral researcher economics as interrelated disciplines, and in School. at the Ecole Polytechnique Federale de particular how the legal environment affects Pinker is an associate editor for Management Lausanne. comparative advantage. Science, Operations Research, Decision Science and the International Journal of Operational Research. M.A., Finance B.S., Accounting, University of Lausanne, He is a member of INFORMS and Beta University at Buffalo Gamma Sigma. Ph.D., Finance, J.D., University of Lausanne University at Buffalo B.A., Mathematics, M.B.A., Columbia University University of Rochester M.S., Operations Research, Robert novy-marx, Massachusetts Institute of Technology Assistant Professor of Finance Ph.D., Operations Research, Massachusetts Institute of Technology Professor Novy-Marx’s research focuses pri- EDWARD L. OWENS, marily on asset pricing, both theoretical and Assistant Professor of Accounting empirical, though he also works in industrial Professor Owens has research interests in organization, public finance and real estate. MICHAEL A. RAITH, the debt and equity market consequences of Associate Professor of Economics and Novy-Marx earned the American Real financial accounting information, the effects Estate and Urban Economics Association of financial distress on the production and use Management Dissertation Award in 2005 and the Western of accounting information and international Professor Raith joined the Simon School in Finance Association’s Trefftz Award in 2004 accounting issues. He is a member of Beta 2002 and teaches an M.B.A. course on com- for “An Equilibrium Model of Investment Gamma Sigma, recipient of the 2008 Kenan- petitive strategy, for which he was named to Under Uncertainty.” His “Hot and Cold Flagler Outstanding Ph.D. Teaching Award the Teaching Honor Roll twice. His research Markets” won the 2010 Mill’s Prize for the and a 2009 Deloitte Foundation Doctoral interests include the economics of organiza best paper in real estate economics. Fellow. Before pursuing his Ph.D., Owens was tions and industrial economics. He has worked Novy-Marx is also a former professional a senior financial analyst for GMAC Financial on pricing strategies in the presence of market triathlete, a member of the National Bureau Services. uncertainty, the effects of financial constraints of Economic Research and taught at the on firms’ behavior in product markets, incen- Booth School of Business before coming to B.B.A. (magna cum laude), Finance and Risk tive contracting and performance evalua- the Simon School. Management, tion in organizations, and the interaction University of Georgia B.S., Physics, between incentives and communication in M.B.A., Finance and Decision Analysis, various principal-agent settings. Raith’s work Swarthmore College Emory University Ph.D., Finance has been published in the American Economic Ph.D., Business Administration (Accounting), Review, RAND Journal of Economics, Journal University of California–Berkeley (Haas University of North Carolina at Chapel Hill School of Business) of Economic Theory, International Journal of Industrial Organization, Journal of Law, Economics and Organization and Journal of Financial and Edieal J. Pinker, DAVID J. OLIVEIRI, Quantitative Analysis. Associate Professor of Computers Prior to joining the Simon School fac- Executive Professor of Business and Information Systems and of ulty, Raith taught at the Graduate School of Administration Operations Management; Director, Business of the University of Chicago. He Professor Oliveiri has held several executive Center for Information Intensive also spent two years as a research fellow at the positions over a 30-year career in publishing Services; Area Coordinator, European Centre for Advanced Research in and law. Management Science Methods Economics in Brussels. During 2005–06, he He most recently served as group vice visited the University of Southern California’s president of legal education for West Group Professor Pinker’s research interest focuses on Marshall School of Business, where he re (an operating arm of Thomson-Reuters) and issues of business process design, electronic ceived a Golden Apple teaching award. president of Foundation Press. commerce and Homeland Security. He has Vordiplom, Economics, He has held positions as senior vice presi- published research on the use of contingent University of Bielefeld dent and publisher, vice president of busi- workforces, cross-training and experience- Vordiplom, Computer Science, ness development, vice president of product based learning in service sector environments Fernuniversität Hagen systems, and general manager/chief operating as it applies to work and workflow design, Diplom, Economics, officer for various Thomson subsidiaries and online auctions and responses to terrorist University of Bonn operating groups. threats. He is currently studying how medi- Ph.D., Economics, Oliveiri began his career at Lawyers cal offices can be organized to improve pro- London School of Economics Cooperative Publishing in Rochester, N.Y., ductivity, and business process outsourcing. where he was a managing editor, and later, an Pinker has consulted for the United States editorial director. He has also served as gener- Postal Service, the financial services industry al counsel at Theatre Confections Inc. and was and the auto industry. His work has been pub- assistant counsel at Central Trust Bank. lished in leading journals such as Management

7 Simon Graduate School of Business Information Guide 2010–2012

Werner Schenk, G. William Schwert, stochastic processes and performance model- Clinical Assistant Professor of Distinguished University Professor and ing for capacity planning and pricing. Computers and Information Systems Professor of Finance and Statistics Seidmann has consulted with many of the leading industrial and service corporations Professor Schenk has professional and teach- Professor Schwert has research and teaching and presented numerous research and execu- ing interests in computers and information interests in portfolio and capital-market theo- tive seminars on four continents. He has won systems as applied to end-user computing, ry, corporate finance and control, economet- teaching awards from the M.B.A. and Executive documentation and training, and applications rics and time-series analysis, and in the effects M.B.A. classes at the Simon School, as well as development for office and manufacturing of public regulation on business. From 1978 from the Rochester-Nyenrode Class of 2003. automation. Prior to joining the faculty, he until 1982, his research was sponsored by the His research was cited twice on the front page worked as a principal information specialist National Science Foundation. During 1982, of The Wall Street Journal, and he was granted and manager of programming services for he was the first CRSP Distinguished Research several prestigious prizes at international con- Xerox Corporation. He now consults inde- Scholar at the University of Chicago. He ferences for publishing outstanding research pendently on information systems. He was a received a Batterymarch Research Fellowship papers in the areas of information systems, visiting professor of management information for the 1982–83 academic year. In 1990, he information economics and electronic com- systems at St. John Fisher College and has won the Graham and Dodd Plaque for the merce. These include the Award for Best held adjunct teaching positions at the Roch best paper (“Stock Market Volatility”) pub- Research Paper at the 16th International Con ester Institute of Technology and the State lished in the Financial Analysts Journal, and he ference on Information Systems, presented University of New York at Brockport. He has won a Smith-Breeden Distin guished Paper in Amsterdam, the Netherlands. He also been a member of the A.N.S.I. Committee Award for one of the best papers (“Why Does won the best paper award at the 1998 Hawaii for Programming Language Standardization Stock Market Volatility Change Over Time?”) International Conference on Systems Sciences, and is a co-author of the American National published in The Journal of Finance. in Kohala, Hawaii. In 1999, the Workshop on Standards for Information Systems Programming Schwert has been an editor of the Journal of Information Systems and Economics gave him Languages-Fortran. Schenk is an arbitrator for Financial Economics since 1979 and the managing a special award for writing “The Best Paper on the American Arbitration Association and a editor since 1995. He was an associate editor of Information Systems and Economics.” member of the Financial Industry Regulatory The Journal of Finance from 1983–2000, and he Authority (FINRA) Board of Arbitrators. is an advisory editor of the Journal of Monetary B.Sc., Industrial and Management Engineering, Economics. His current research deals with the Technion, Israel Institute of Technology B.A., Mathematics, pricing of initial public offerings of stock, the M.Sc., Operations Research, University of California effects of insider trading on the market for Technion, Israel Institute of Technology M.B.A., corporate control, the effects of anti-takeover Ph.D. (cum laude), Industrial Engineering, University of Rochester devices on takeover activity, and on stock mar- Texas Tech University ket volatility. Ronald M. Schmidt, A.B. (honors), Economics, JOEL SELIGMAN, Janice M. and Joseph T. Willett Trinity College President, University of Rochester Professor of Business Administration M.B.A., Finance, Econometrics, Joel Seligman, president of the University of for Teaching and Service University of Chicago Ph.D., Finance, Econometrics, Rochester since July 1, 2005, also holds faculty Professor Schmidt developed the Executive University of Chicago positions in the University’s Department of Development (M.B.A.) Program at Erasmus Political Science and in the William E. Simon University in the Netherlands and served as Graduate School of Business Administration. its first chairman. His teaching areas include ABRAHAM SEIDMANN, Before he became the University of economics, statistics, marketing, organizations Xerox Professor of Computers and Rochester’s tenth president, Seligman was and corporate strategy. dean of Washington University’s School of Schmidt received Superior Teaching Awards Information Systems and Operations Law since 1999. He was dean and Samuel M. from the M.B.A. Classes of 1974, 1976, Management; and Area Coordinator, Fegtly Professor of Law at the University of 1983 and 1991; the Executive Development Computers and Information Systems, Arizona College of Law from 1995 to 1999. (M.B.A.) Classes of 1984, 1985 and 1988; the Electronic Commerce, and Operations He also served on the faculty at the University Rochester-Erasmus M.B.A. Class of 1987 and Management of Michigan Law School, George Washington the Rochester-Nyenrode Classes of 2000 and Professor Seidmann is the author of over 100 University Law School and Northeastern 2001. His publications include papers on pric- research articles, which appear in many of the University Law School. ing, regulation and management compensation. leading scientific journals, and has been the A graduate of Harvard University, Seligman His current research activities include an exam founding department editor on interdisciplin- is one of the nation’s leading experts on ination of the relationship between pay and ary management research and applications in securities law, and is the co-author, with the performance for C.E.O.’s and an investigation Management Science for 10 years. He is also an late Louis Loss, of the 11-volume Securities of the impact of contractual provisions on the associate or area editor for IIE Transactions, Regulation, the leading treatise in the field, and performance of major-league baseball play- the International Journal of Flexible Manufacturing author of The Transformation of Wall Street: A ers. He has served as a consultant to Eastman Systems, Production Planning and Controls, the History of the Securities and Exchange Commission Kodak Company, Xerox Corporation, Bausch Journal of Intelligent Manufacturing, the Journal of and Modern Corporation Finance. & Lomb, Schlegel Corporation, Croon Electro Management Information Systems and Production He also has served as reporter for the techniek and several other corporations. and Operations Management. His current research National Conference of Commissioners on and consulting activities include medical infor- Uniform State Laws, Revision of Uniform B.A., Economics, Securities Act (1998–2002); as chair of The Ohio State University matics, electronic commerce, online auctions, information systems, health care management, the Securities and Exchange Commission M.A., Economics, Advisory Committee on Market Information The Ohio State University business process design, project management and optimal resource allocation, strategic man- (2000–2001); and as a member of the ufacturing systems, information economics, American Institute of Certified Public Accountants Professional Ethics Executive Committee. He is currently a member of the

8 Simon Graduate School of Business Information Guide 2010–2012 board of the Financial Industry Regulatory the marketing department at Northwestern Chicago Board Options Exchange for 1980; Authority (FINRA). University’s Kellogg School of Management. his paper, “On the Convergence of Insurance He is the author or co-author of 21 books In addition to his teaching and research and Finance Research,” was awarded the and over 40 articles on legal issues related to duties at the Simon School, Shaffer has an Alpha Kappa Psi-Spangler Award by the securities and corporations. appointment in the School of Management at American Risk and Insurance Association for the University of East Anglia (Norwich, U.K.). 1996. A.B., Political Science, He is also the founder and the director of the University of California at Los Angeles Center for Pricing at the Simon School. B.A., Economics, J.D., Emory University Harvard University B.A. (high honors), Economics and Ph.D., Economics, Mathematics, University of North Carolina at Chapel Hill Swarthmore College Greg Shaffer, M.A., Economics, Wesray Professor of Business Princeton University MINJAE SONG, Administration; Professor of Ph.D., Economics, Assistant Professor of Marketing and Economics and Management and of Princeton University Economics Marketing Professor Song’s research topics include Professor Shaffer teaches the course on pric- Clifford W. Smith Jr., developing an empirical model of consumer ing policies to full-time and part-time M.B.A. demand, measuring consumer benefit from Louise and Henry Epstein Professor of technology innovation, modeling/analyz- students. He has been named to the Teaching Business Administration and Professor Honor Roll numerous times and was awarded ing cooperative R&D in high tech industries, the Superior Teaching Award from the M.B.A. of Finance and Economics and analyzing pricing strategies for inter-firm classes of 2001 and 2004. Shaffer’s research Professor Smith has research interests in the product bundling. He has published articles employs game theoretic models to examine fields of corporate financial policy, derivative in the RAND Journal of Economics, the Journal pricing-related issues in I.O. and antitrust securities and financial intermediation. He of Business and Economics Statistics and the economics. His specialty is in the area of has published 16 books and over 90 articles International Journal of Industrial Organization. vertical restraints, including exclusive dealing, in leading finance and economics journals. Prior to joining the Simon School in 2007, bundling, slotting allowances, market-share- Students in the Executive M.B.A. Program he was a faculty member at Georgia Institute based contracts and resale price maintenance. have given him their Superior Teaching Award of Technology in Atlanta, Ga., and a visiting He has received research grants from the 19 times; students in the M.B.A. Program scholar at Northwestern University's Kellogg U.S. National Science Foundation, the Social have given him their Superior Teaching School of Management in the summer of Science Research Council (U.S.A.) and the Award 10 times. In 2003, he received the 2005. Social Research Council (U.K.). F.M.A. Fellows Award by the Financial B.A. (highest honor), Economics, Shaffer’s work has appeared in the American Management Association International. He Seoul National University, Seoul, Korea Economic Review; Economic Journal; the RAND was named Distinguished Scholar by the M.A., Economics, Journal of Economics; Journal of Economics Southern Finance Association in 2000, and Harvard University and Management Strategy; Journal of Law and Distinguished International Visiting Scholar Ph.D., Economics, Economics; Journal of Law, Economics and Organiz by the British Account ing Association in 1991. Harvard University ation; Journal of Industrial Economics; International In 1986, he was given the first Special Award Journal of Industrial Organization; Marketing for a Perfect Teaching Rating by the School; Science; and Management Science. He received in 1983, he was chosen a University Mentor in DANIEL H. STRUBLE, Emerald Management Review’s Citation of Ex- recognition of his scholarship and teaching. Clinical Assistant Professor of cellence Award as the author of one of the Smith has served as president of the top 50 management articles of 2002. Risk Theory Society, president of the Business Communications and Shaffer is an area editor of Marketing Science, Financial Management Association National Area Coordinator, Business a co-editor of the Journal of Economics and Honor Society, vice president for Global Communications Management Strategy and an associate editor of Services of the Financial Management Mr. Struble has extensive experience in leader- the Journal of Economics and Business. He has Association International, vice president of ship and executive communications training served as a visiting scholar in the two U.S. the International Economics and Finance and delivery. Previously, he was a career naval government antitrust agencies: the Antitrust Society, a member of the board of advisors officer with tours as a helicopter pilot, flight Division of the U.S. Department of Justice of the International Association of Financial instructor, joint staff and congressional liaison and the Bureau of Economics at the U.S. Engineers, and a member of the board of officer, financial specialist, helicopter squad- Federal Trade Commission. Shaffer partici- directors of the Financial Management ron commander, public affairs officer and pated in the writing of the 2001 Federal Trade Association and the Southern Finance naval attaché. Prior to his retirement from the Commission’s report on slotting allowances Association. He is an advisory editor of Navy in 2006, he was in charge of the Naval (payments for retail shelf space), and he has the Journal of Financial Economics; an associ- R.O.T.C. Unit at the University of Rochester. twice given invited testimony on their com- ate editor of the Journal of Risk and Insurance, petitive effects, serving on a three-member Financial Practice and Education, the Review of B.A., Biology, panel investigat ing this practice at the Hearings International Economics, the Journal of Financial Cornell University on Global and Innovation Based Competition (1995) Services Research, the Journal of Derivatives, and M.B.A., and again at the Federal Trade Commission’s the Journal of Financial Research; a member of University of West Florida sponsored workshop on slotting allowances the editorial board of the Review of International (2000). Economics; and a member of the advi- Prior to joining the Simon School in 1997, sory board of the Journal of Applied Corporate TOLGA TEZCAN, Shaffer taught in the economics depart- Finance, The Financier, Contemporary Finance Assistant Professor of Operations ments at Indiana University (Bloomington, Digest, and The Arbitrageur. His paper, “Trading Management Ind.) and the University of Michigan (Ann Cost for Listed Options: The Implications Professor Tezcan has research interests in Arbor, Mich.). He has held an appointment for Market Efficiency” (with Susan M. management of service operations. He studies at Princeton University’s Woodrow Wilson Phillips), was awarded the Pomerance Prize robust design and control of service systems, School, and he has been a visiting scholar in for Excellence in Options Research by the

9 Simon Graduate School of Business Information Guide 2010–2012 such as call centers and health care systems, management, management science and busi- associate editor of the Journal of Financial Eco operating under demand uncertainty. He has ness statistics. Previously, she taught opera- nomics. He is a former member of the faculty won the NSF CAREER award in 2009. His tions management at the Weatherhead School of the University of Chicago Graduate School research articles have appeared in Management of Management at Case Western Reserve of Business. Science, Operations Research, Math of Operations University. She has 18 years of industrial B.S., Economics, Research, Annals of Applied Probability and experience as a software engineer and proj- University of Pennsylvania Queueing Systems. ect manager in telecommunications, medical M.A., Operations Research, Prior to joining Simon School in 2010, instrumentation, supply chain software and Yale University he taught courses in Engineering Economy financial industries. She has published articles M.B.A., Economics and Finance, and Decision Making, and Statistical Process in the European Journal of Operations Research, University of Chicago Control at University of Illinois at Urbana- Mathematical Social Sciences, International Journal Ph.D., Economics and Finance, Champaign. Before obtaining his Ph.D., he of Revenue Management and the Production and University of Chicago worked at the UPS Customer Service Center. Operations Management Journal. B.S., Industrial Engineering, S.B., Electrical Engineering, Bilkent University, Turkey, Massachusetts Institute of Technology Charles E. Wasley, M.S., Industrial and Systems Engineering, M.S., Applied Mathematics, Joseph and Janice Willett Colorado State University–Pueblo Colorado School of Mines Distinguished Scholar; Area M.S., Mathematics, Ph.D., Operations Management, Coordinator, Accounting Georgia Institute of Technology Case Western Reserve University Ph.D., Industrial and Systems Engineering, Professor Wasley’s teaching interest is in the Georgia Institute of Technology financial reporting area. His research interests HEIDI TRIBUNELLA, encompass the role of accounting information Clinical Associate Professor of in capital markets. He currently serves as an DAVID TILSON, Accounting associate editor of the Journal of Accounting and Clinical Assistant Professor of Economics. His current research focuses on the Professor Tribunella has served as an auditor rational pricing of earnings, cash flows and Computers and Information Systems for two national firms, Deloitte & Touche and accruals; measuring real activity management; Professor Tilson’s research interests are in the PricewaterhouseCoopers LLP. At those firms, management earnings and cash flow forecasts; interrelationship between technical standards she served clients in the health care industry information externalities in capital markets; and industry structures, as well as the impact as well as midsized firms. Tribunella, also a and the role of materiality as a determinant of of mobile and ubiquitous information sys- New York State Certified Public Account ant, firms’ disclosure decisions. tems. His teaching interests include strategic spent over five years in industry as a manager Recent publications include “The Joint and business systems consulting, information of financial reporting for two different health Effects of Materiality Thresholds and systems, and business statistics. Previously, he care companies. Prior to joining the Simon Voluntary Disclosure Incentives on Firms’ taught information systems at Case Western School faculty, she taught a variety of business Disclosure Decisions” published in the Reserve University, and managerial data analy- and accounting courses at various colleges. Journal of Accounting and Economics (February sis in the Simon Executive M.B.A. Program. Tribunella has an interest in account- 2010) and “Further Evidence on the Relation His industry experience includes three years ing and auditing research and has published between the Uncertainty of Future Operating in strategy consulting, mostly with McKinsey articles with in the CPA Journal, the Journal Performance and R&D Expenditures: The & Company, along with a decade in R&D of Business and Economics Research, the Journal Role of R&D Inputs and Outputs,” forthcom- and project management in the telecom, of College Teaching and Learning, The Review of ing in the Journal of Accounting Auditing and high-tech and media industries. He has con- Business Information Systems, and the Accounting Finance. sulted for clients in financial services, insur- Information Systems Educator Journal. Professor Wasley’s research has been pub- ance, telecom, software and energy. His track Tribunella has received the Oneida County lished in the Journal of Accounting and Economics, record of accomplishments includes a Royal Comptroller’s Office Accounting Award for The Accounting Review, the Journal of Accounting Television Society (British equivalent to an academic achievement in the M.S. accoun- Research, the Journal of Finance, the Journal of Emmy) for broadcast technology. Having lived tancy program at the SUNY Institute of Financial Economics, the Journal of Accounting, and worked on three continents gives him an Technology. She is listed in the 2002 edi- Auditing and Finance, the Journal of Portfolio understanding of business and collaboration tion of Who’s Who Among America’s Teachers Management and the Review of Quantitative in an international context. and has received Best Paper Awards at the Finance and Accounting. International Business and Economics Prior to his appointment at the Simon B.Eng., Electrical and Electronic Engineering, Research Conference and the Accounting School, Wasley was a faculty member at Queen’s University of Belfast (U.K.) Information Systems Educators’ Conferences. Washington University in St. Louis and The M.Sc., Telecommunications Engineering, University of Iowa. University of London (U.K.) B.S., Accounting, M.B.A., Information Systems and State University of New York at Geneseo B.S., Accounting, Entrepreneurship, (John Wiley Jones School of Business) State University of New York at Binghamton University of Texas at Austin M.S., Accountancy, M.S., Accounting, Ph.D., Information Systems, State University of New York Institute of State University of New York at Binghamton Case Western Reserve University Technology Ph.D., Accounting, The University of Iowa VERA TILSON, Jerold B. Warner, Assistant Professor of Operations Fred H. Gowen Professor of Business GERARD J. WEDIG, Management Administration; Professor of Finance Associate Professor of Business Professor Tilson’s research interests are in and Area Coordinator, Finance Administration supply chain management, stochastic schedul- Professor Warner has teaching and research Professor Wedig’s research interests involve ing and health care operations. Her teaching interests in portfolio theory, capital markets the application of corporate finance, gover- interests are in production and operations and corporate finance. He is currently an nance, organizational economics and incen-

10 Simon Graduate School of Business Information Guide 2010–2012 tives to the health care industry. He has rics, asset pricing, macroeconomics and cor- Carnegie Mellon University studied the investment and financing decisions porate debt policy. She serves on the editorial Ph.D., Electrical and Computer of hospitals and nonprofit entities, incentive boards of the Journal of Financial Economics and Engineering, payment systems for physicians and hospi- the Journal of Macroeconomics and was one of Carnegie Mellon University tals, and a variety of other issues in health the founding co-editors of Finance Research Ph.D., Finance, economics, including the incentive effects of Letters. Stanford University Medicare and Medicaid payment systems on costs, insurance coverage and charity care. His B.A., French Literature and Economics, current research focuses on the organizational University of Oregon Jerold L. Zimmerman, economics of the managed care industry. Ph.D., Economics, Princeton University Ronald L. Bittner Professor of Business Wedig’s publications have appeared in The Administration and Professor of Journal of Finance, the Journal of Business, the Accounting Review of Economics and Statistics, the Journal of Health Economics, Health Affairs, Medical Care KURT WOJDAT, Professor Zimmerman’s research and teach- Research and Review and other journals. In addi- Clinical Assistant Professor of ing interests involve financial and managerial tion, he has been the recipient of numerous Accounting accounting. In 2004, he and Professor Ross L. Watts (at M.I.T.) received the American research grants from the Centers for Medicare Professor Wojdat gained public accounting Accounting Association Seminal Contribution and Medicaid Services (formerly HCFA) and experience working for two years as an audi- to the Accounting Literature Award, the the Robert Wood Johnson Foundation. tor with Peat Marwick and Mitchell. A certi- most prestigious research award in the field Wedig teaches courses in organizational eco fied public accountant, he spent five years at of accounting. They received the American nomics as well as the corporate finance and Warner Lambert engaged in internal auditing, Institute of Certified Public Accountants governance of health care organizations. He cost accounting, financial analysis and treasury Award in 1979 and 1980 for their joint papers. has consulted to numerous medical organiza- activities. He then performed financial plan- Zimmerman was the 1978 winner of the tions including hospitals, H.M.O.’s, physician ning and analysis functions at Xerox Corpora Competitive Manuscript Award, sponsored groups, pharmaceutical firms and consulting tion for three years. After receiving his doc- by the American Accounting Asso ciation, for firms on issues of health care finance. Prior toral degree, he taught at Syracuse University his paper, “The Costs and Benefits of Cost to joining the Simon School, Wedig taught at for one year before joining the Simon School Allocation.” The Watts/Zimmerman research, Boston University’s School of Management, faculty. the Wharton School at the University of Penn which has come to be called “positive theo- sylvania and Indiana University’s Kelley School B.S., Accounting, ries of accounting,” seeks to understand of Business. State University of New York at Albany the costs and benefits of various account- M.B.A., Finance, ing procedures. He and Watts co-authored a B.S. (summa cum laude), Economics, University of Rochester book, Positive Accounting Theory, published by Washington University (St. Louis) Ph.D., Accounting, Prentice-Hall in 1986. M.A., Economics, University of Buffalo Zimmerman’s current research includes: Harvard University “Asymmetric Sensitivity of C.E.O. Cash Ph.D., Economics, Compensation to Stock Returns,” with Harvard University Joanna Shuang Wu, Andrew J. Leone and Joanna Shuang Associate Professor of Accounting Wu ( Journal of Accounting and Economics); “Unintended Consequences of Granting Toni m. whited, Professor Wu’s teaching interest is in the area Small Firms Exemptions from Securities Michael and Diane Jones Professor of of financial reporting. Her research interests Regulation: Evidence from the Sarbanes- Business Administration and Professor are include international financial reporting, Oxley Act,” with Feng Gao and Joanna of Finance the behavior of financial analysts, manage- Shuang Wu ( Journal of Accounting Research); and ment compensation, and mutual fund per- “The Joint Effects of Materiality Thresholds Professor Whited was named the first Michael formance. Her work has been published in and Voluntary Disclosure Incentives on Firms’ and Diane Jones Professor of Business Admin The Journal of Finance, Journal of Accounting and Disclosure Decisions,” with Shane Heitzman istration on February 24, 2009. Economics, Journal of Accounting Research and The and Charles Wasley ( Journal of Accounting and Previously, Whited was the Kuechen Accounting Review, among others. She is cur- Economics). meister-Bascom Professor at the Wisconsin rently serving as associate editor for the Journal The fifth edition of Managerial Econom School of Business at the University of Wis of Accounting and Economics. ics and Organizational Architecture by James A. consin, Madison. She earned a B.A. from the Brickley, Clifford W. Smith Jr. and Jerold L. University of Oregon, majoring in French B.A., International Economics, Beijing University Zimmerman was published by McGraw-Hill/ literature and economics, and a Ph.D. from Irwin in 2009. Brickley, Smith, Zimmerman Princeton University in economics, working M.A., Economics, Tulane University and Janice Willett authored a popular version with Ben Bernanke. Professor Whited worked of this text entitled Designing Organizations at the Federal Reserve Board and was on the Ph.D., Business Administration, Tulane University to Create Value published by McGraw-Hill faculty of the University of Pennsylvania, in 2003. The seventh edition of Zimmer Northwestern University, the University of man’s textbook, Accounting for Decision Making Michigan and the University of Iowa before and Control, was published by McGraw- joining the University of Wisconsin in 2003 WEI YANG, Assistant Professor of Finance Hill in 2010. Professors Cheryl McWatters Whited has taught in a wide variety of areas (McGill University), Dale Morse (University in finance, macroeconomics and econometrics Professor Yang has research interests in of Oregon) and Zimmerman published an at the undergraduate, M.B.A. and doctoral lev- empirical corporate finance and asset pric- undergraduate accounting text, Management els. She has published over 20 articles and has ing. His recent research focuses on corporate Accounting Analysis and Interpretation by Prentice twice won a Brattle Prize for one of the top investment and inefficiency, and dynamic term Hall FT in 2008. articles in the Journal of Finance in corporate structure models and their fit to historical Zimmerman is an editor of the Journal finance. Her research deals primarily with the interest rate behavior. of Accounting and Economics. He was also effects of financial markets on firm capital M.S., Electrical and Computer a distinguished faculty member of the budgeting decisions. She has also conducted American Accounting Association’s Doctoral research in the areas of theoretical economet- Engineering,

11 Simon Graduate School of Business Information Guide 2010–2012

Consortium, and a visiting professor at Economics, the Journal of Econometrics and the Chinese University of Hong Kong, Hong THE ADJUNCT FACULTY Journal of International Money and Finance, as Kong University of Science and Technology, well as in several policy-oriented journals. He Hong Kong University, and Hong Kong John anderson, is currently working on incorporating macro- Polytechnic University. He is on the board of Lecturer in Finance economic factors into term structure models directors of IEC Electronics and on the com- Mr. Anderson is currently president of using high frequency data. pany’s audit and compensation committees. Northern Capital Group Inc., a real estate Bauer received his doctorate from the development and investment company head- Wharton School of Business at the University B.S. (cum laude), Finance, of Pennsylvania. He holds the Chartered University of Colorado quartered in Rochester, N.Y. Prior to this, Anderson was president and chief executive Financial Analyst (C.F.A.) designation. Prior to Ph.D., Business Administration, obtaining his doctorate, Bauer was a foreign University of California at Berkeley officer of Wilmorite Properties Inc., a private real estate investment trust based in Rochester. exchange trader at the Bank of Canada and a Anderson has over 25 years experience macroeconomist at the Ontario Ministry of in the banking and real estate industries. Finance. Bauer is a four-time winner of the Ellen Zuroski, Superior Teaching Award from the Simon Clinical Assistant Professor of Business After teaching high school English for four years, Anderson received an M.B.A. from the M.B.A. program and a multiple winner of Communications University of Rochester and then joined the awards from the Executive M.B.A. program. Professor Zuroski has teaching and research Irving Trust Company at One Wall Street in B.A., Applied Economics, interests in cross-cultural communication New York City. From 1985 to 1989 he was University of Waterloo and second language acquisition. Her work vice president of Citicorp Real Estate Inc., M.A., Economics, for educational and corporate institutions Citicorp’s main real estate banking vehicle, Queen’s University includes design implementation of numerous which provided financing for large real estate M.A., Finance, communication skills courses and workshops, developers and owners on a worldwide University of Pennsylvania as well as coordinating translations and edit- basis. In 1989, Anderson joined Wilmorite Ph.D., Finance, ing of marketing, training and instructional to become the C.F.O. and subsequently was University of Pennsylvania publications for internal use. Her clients have named the president and C.E.O. At Wilmorite, included Eastman Kodak Company, Gleason Anderson created a new capital structure Corporation, Bausch & Lomb, Volvo and which included raising institutional private DANIEL J. BURNSIDE, Saatchi & Saatchi Ltd. equity and culminated in 2000 in the forma- Lecturer in Finance Zuroski has served as a language arts edu- tion of a private real estate investment trust cational consultant with public television and (REIT). In 2005, Wilmorite was acquired Dr. Burnside is director of quantitative has written and produced a number of nation- by the Macerich Company, a publicly traded research at Rochester money manager Clover ally syndicated educational television pro- REIT. Capital Management. He has held various grams. She was awarded a Kellogg Foundation Throughout Anderson’s career, he has roles in the investment, risk management Fellow ship in International Development for managed the construction, development and and financial planning fields, and has worked her work in fostering educational and enter- acquisition of a variety of commercial real extensively with both individual and institu- prise initiatives among U.S., Latin American estate properties. Northern Capital Group tional clientele. His teaching goal is to provide and Caribbean partners. recently oversaw the conceptual planning, students with the knowledge to bridge the gap design and approval of a three million square between the academic theories and the practi- B.A., English Literature and Asian Studies, foot transit-oriented mixed-use project in tioner world of money management. Cornell University Tysons Corner, Va. One of Anderson’s cur- Burnside is a chartered financial analyst M.S., Education, rent initiatives is a real estate investment fund (CFA) and a certified financial planner (CFP). University of Rochester targeting the upstate New York market. B.S., Engineering, Ph.D. (candidate), Anderson serves on the Simon School University of Rochester Cornell University Executive Advisory Committee, is a coun- M.S., Engineering, cil member of the Urban Land Institute, is Cornell University the chairman of the board of the Trinity Ph.D., Engineering and Mathematics, Montessori School, and coaches junior league THE STAFF Cornell University baseball and basketball. M.B.A., The experienced and dedicated support staff B.A., English, University of Rochester brings an average of nine years of service to State University of New York the faculty and students of the Simon School. M.B.A., Finance, Applied Economics, Faculty have individually assigned staff who University of Rochester DEAN CRAWFORD can serve as liaisons to the students on course- Lecturer in Accounting work and research-related matters. The staff Dr. Crawford’s teaching interests include taxes offices are located in close proximity to the GREGORY H. BAUER, faculty for optimal support and effectiveness and financial accounting. His research interests for the students. Visiting Assistant Professor of Finance include the stock market’s reaction to corpo- Additionally, the staff help support three Professor Bauer is assistant director and rate management’s signals contained in stock world-renowned academic journals and the research adviser in the Financial Markets dividends and stock splits, and emerging mar- Bradley Policy Research Center. Department at the Bank of Canada. At the ket financial markets with specific reference to bank, he is responsible for managing a group the Warsaw Stock Exchange. of nine Ph.D. researchers who specialize in B.S., analyzing fixed income and foreign exchange State University of New York at Buffalo markets. In addition, he coordinates the M.S. and Ph.D., Accounting department’s annual research workshops. University of Rochester His main area of research is international finance. He has published papers in the Review of Economic Studies, the Journal of Financial

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BARRY A. FRIEDMAN, Asia. In July 2006, QED was acquired by Ltd., where she was responsible for build- Lecturer in Economics and Cabot Microelectronics Corporation, the leading an innovation laboratory for Mr. Wilson Management ing supplier of chemo-mechanical planariza- Greatbatch, inventor of the first successfully tion slurries used for polishing semiconductor implanted cardiac pacemaker. Dr. Friedman’s professional interests include and data storage devices. leadership, management effectiveness, human Over the years, QED has received B.A. Chemistry, resource management, and employee devel- various prestigious awards, including the Hope College opment. His corporate experiences include Photonics Circle of Excellence Award, the M.D., Xerox, ExxonMobil and Harris Interactive. He U.S. Department of Defense Manufacturing University of Missouri–Columbia has published articles in the Journal of Applied Technology Achievement Award, the Roch M.M.M., Psychology , Personnel Psychology, Industrial Relations, ester Top 100 Award, the R&D Magazine Tulane University Journal of Educational Administration, Employee R&D100 Award, and the Rochester Business Rights and Responsibilities Journal, Personnel Jour Ethics Award. nal, and the Training and Development Journal. Prior to founding QED, Golini was DAVID HESSLER, involved in the development, management Lecturer in Entrepreneurship B.S., Psychology and Political Science, and commercialization of new technologies University of Rochester Mr. Hessler is an entrepreneurial business related to the manufacture of precision optics. Ph.D., Industrial and Organizational executive experienced in both operating He managed the research program at the Psychology, management and in private equity financing. Center for Optics Manufacturing (C.O.M.) at The Ohio State University He has management experience in both large the University of Rochester from 1992–1996, and small technology businesses, including and worked on large optics manufacturing and as C.E.O. and business owner. In addition, R&D at Itek Optical Systems in Lexington, he has financing transactional experience as a W. BARRY GILBERT, Mass., from 1986–1992. Executive Lecturer in Business principal of a small venture capital fund and Golini is the author of many technical as managing director of two middle market Administration and E-Commerce publications, has assisted in conference and investment-banking firms. Mr. Gilbert is currently C.E.O. and chairman technical session planning, and has served as Hessler is currently entrepreneur-in-resi- of the board of IEC Electronics Corporation a technical referee for the Optical Society of dence at High Tech Rochester (HTR), special- and has served on a number of advisory America (O.S.A.), the Society of Photographic izing in technology commercialization and boards. Instrumentation Engineers, the American start-up financing. He heads HTR’s capital He served as president of the Thermal Society for Precision Engineering and the U.S. readiness program, and is involved in the men- Management Group of Bowthorpe Plc. from Department of Energy. He is a former presi- tor capital program. 1991 until 1999, where he had responsibility dent of the Rochester chapter of the O.S.A., Hessler is also currently chief financial for eight manufacturing locations in the U.S., and is named on seven U.S. patents. Mr. Golini officer of PharmaNova Inc., a privately held, Mexico, Hong Kong, Malaysia, England, Italy was named an Ernst & Young Entrepreneur specialty drug development company in and Germany. of the Year®, and in 2003, selected as a Small Rochester, N.Y. PharmaNova was founded on Prior to Bowthorpe, Gilbert served as cor- Business Administration Rochester Small the re-purposing and enhancement of known porate vice president and division president Business Person of the Year finalist. He is drugs, and is successfully building on its ini- for Milton Roy Company, a mid-sized N.Y.S.E. currently an active member of the Rochester tial success in sublicensing a valuable patent company, and held several senior leadership Angel Network (R.A.N.) and serves as a mem- secured from the University of Rochester roles for Bausch & Lomb, Inc., concluding ber of the Dean’s Visiting Committee for the In addition to his undergraduate and gradu- with becoming a division president for the University of Rochester’s Hajim School of ate education, he received additional training company. Gilbert started his commercial Engineering. at the NASBIC Venture Capital Training career at Ernst & Young in New York City in B.S., Optics, Institute and the Xerox/Harvard Executive its public accounting and management con- University of Rochester Program (Exeter). sulting groups. M.S., Electro-Optics, Hessler has held National Association of In 1992, Gilbert was given the Simon Tufts University Securities Dealers (N.A.S.D.) Series 63, Series School Distinguished Alumnus Award. 7 and Series 24 securities licenses. In his community, Hessler is a founding B.S., Accounting (Honor Society), ELISABETH HAGER, member of the Rochester Venture Capital The Ohio State University Group and the Rochester Angel Network. He M.B.A., Finance, Applied Economics, Lecturer in Entrepreneurship served as a delegate to the 1995 White House University of Rochester Dr. Hager is founder, chairman and C.E.O. Conference on Small Business and serves on of Balan Biomedical, a medical and consumer the boards of several Rochester, N.Y., non- health intelligence company that brings the profit organizations. DONALD GOLINI, voice of physicians and patient to the design Lecturer in Entrepreneurship and development of medical products. She is B.S., Mechanical Engineering, Clarkson University Mr. Golini is currently the president of QED a board-certified neuropsychiatrist and served as board chairman and acting C.E.O. of the M.S., Engineering, Technologies, a company he founded in 1996 University of Michigan to commercialize a novel optical polishing Rochester Community Individual Practice Association, a 2,700-physician independent M.B.A. (with honors), technology transferred from the University of University of Michigan Rochester. QED develops, manufactures and practice association and also served as presi- markets polishing and metrology equipment dent of the Monroe County Medical Society for the precision optics industry. and president of the High Tech Business Council. VINCENT W. HOPE, Over the past 14 years, QED has grown Lecturer in Marketing from 5 to more than 50 employees, with per- Her success as an entrepreneur includes sonnel in the U.S., Germany, France, Japan founding Adroit Research Solutions Inc, a Mr. Hope is a specialist in leveraging customer and Australia. The QED portfolio includes global clinical trials management organization. knowledge, with expertise in strategic plan- more than a dozen fundamental international Prior to founding Balan Biomedical Inc., ning, market research and integrated info- patents, and the company has sold more than Dr. Hager served as C.E.O. of GentCorp driven marketing.. 150 machines in North America, Europe and

13 Simon Graduate School of Business Information Guide 2010–2012

He has served dozens of clients includ- Gregg Lederman, partner in the law firm of Place & Arnold, a ing Apple, Bank One, Disney, GM, I.B.M., Lecturer in Marketing general practice which represents local munici- Kellogg’s, Kodak, Matsushita, Mitsubishi, palities, real estate, matrimonial, bankruptcy Procter & Gamble, Sony, Sprint, 3M and Mr. Lederman is the founder of Brand and estate clients. His varied legal experience Xerox. He also works with mid-market and Integrity Inc. and co-creator of the Achieving gives students a practical understanding of start-up firms to help focus ahead of shifting Brand Integrity™ process. With over 15 years business law. market opportunities. of experience as a business and marketing Hope served as director of customer strategy professional, Lederman is an entre- A.S., Liberal Arts, knowledge at the database marketing arm preneur who has owned and operated several Monroe Community College of Acxiom Corp., working in consumer pri- businesses in the Rochester area prior to B.S., U.S. and European History, vacy and "Smart Marketing" services for the founding Brand Integrity Inc. S.U.C. at Oneonta agency’s clientele. In the 1990’s, Hope created Brand Integrity focuses on facilitating M.S., Social Science Education, the office of Strategic Research at the head- senior management teams to achieve align- S.U.C. at Oneonta quarters of the American Society for Quality, ment and consensus in regards to an “ultimate J.D., where his team earned Baldrige Award recog- business strategy,” the brand strategy, and Syracuse University nition for customer focus, business metrics creating actionable ways to live it internally and bottom-line impact. through people and processes. Brand Integrity Early in his career, Hope grew and then led Inc. works with leadership to achieve employ- IRFAN SAFDAR, a primary market research firm, designing pro- ee “buy-in” to the brand strategy to ensure Lecturer in Finance sound execution and to establish account- prietary services for media communications, Professor Safdar’s research interests and entertainment and publishing industries. ability for performance, which in turn leads to increases in employee productivity, loyalty working research papers include “The Rising B.S., Psychology, among existing customers, and greater sales Trend in Idiosyncratic Volatility,” “ARCH/ Denison University to new customers. Lederman has crafted and GARCH Modeling and Volatility Forecasting,” M.B.A., Finance, implemented organization-wide and product- “Stock Return Predictabili ty” and “Earnings Rochester Institute of Technology specific brand strategies with many of today’s Management Due to Stock Option Exercise.” leading companies including Wegmans Food Previously, he worked as an investment ana- Markets Inc., Hallmark Cards Inc., Erickson lyst at Solomon Smith Barney, a bulge bracket DENNIS KESSLER, Communities, PAETEC Holding Corp., investment bank. Also, he led a regional eco- Edward J. and Agnes V. Corning Incorporated, Duke Energy, Frito- nomic impact study for a major ferry trans- Ackley Executive Professor of Lay and the American Red Cross. portation project between Rochester, N.Y. and Toronto, Canada. His teaching interests Entrepreneurship Throughout the year, Lederman delivers keynote interactive presentations at various include asset pricing, risk management and Professor Kessler is co-owner of Kessler conferences across the country. Lederman portfolio analysis. Restaurants LLC, a Rochester, N.Y.-based is a board member with the Learning Dis B.S., Physics, owner and operator of 21 Burger King and abilities Association, the Genesee Valley Haverford College 47 Friendly’s restaurants. Kessler has 27 Trust Advisory Board, and the Simon School M.S., Finance, years experience in restaurant ownership, real Alumni Council. Boston College estate and human resource development. He M.S., Applied Statistics employs about 3,000 workers in central and B.S., University of Rochester western New York State and is the largest Ithaca College School of Business M.B.A., Friendly’s franchise restaurant owner in the M.B.A., University of Rochester country. He has led a number of successful University of Rochester start-up companies and is a member of the Council of Advisors for Gerson Lehrman Group Inc., an international association of ANDRAS MIKLÓS Leonard schutzman, academic and industry thought leaders con- Visiting Assistant Professor Executive Professor of Business sulting for leading investment professionals Administration Professor Miklós has research interests in worldwide. Professor Schutzman held a variety of senior Kessler is a member of the board of trust- business ethics, medical ethics and health policy. Prior to joining the Simon School, he was a executive positions at PepsiCo for 20 years. ees of the University of Rochester Medical Most recently, he served as a senior vice presi- Center, chairman and commissioner of the postdoctoral fellow at Harvard University, and held fellowships at the European University dent and treasurer and was responsible for City of Rochester Civil Service Commission, the worldwide financing activity. He served founding board member of the Rochester Institute, the University of Oxford and the University of Oslo. His research has been as senior vice president/finance at several of Education Foundation and a past board mem- PepsiCo’s business units, including Taco Bell, ber of The Boy Scouts of America. He also published or is to appear in Utilitas, Public Health Ethics and Public Reason. Frito Lay, and Pepsi Cola International. serves as an advisor to local law enforcement Schutzman has served on 10 corporate agencies on matters pertaining to business. M.A., Political Science, boards. He is a member of the Executive B.S., Central European University Advisory Committee of the Simon Graduate City University of New York Ph.D., Political Science, School of Business and is a trustee of the M.A., Sociology, Central European University Queens College Foundation. John Jay College of Criminal Justice B.A., M.S.L., ROBERT M. PLACE, Lecturer in Business Law Queens College Yale University Law School M.B.A., LL.M. Mr. Place has been a practicing attorney for 20 University of Rochester Northwestern University School of Law years and utilizes this experience in teaching Cert. of Business Administration for the University of Rochester. He taught Instituto de Empresa, Madrid, Spain social studies at the junior and senior high school level for four years before attending law school at Syracuse University. He is a

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PAUL F. SHANAHAN, of the Greater Metro Rochester Chamber of Oswego and SUNY Geneseo. He is cur- Lecturer in Business Law Commerce and Citizen of the Year by the rently teaching Accounting Information Penfield (N.Y.) Lions Club. Systems, Management Information Systems, Mr. Shanahan is a trial lawyer admitted to Auditing and Information Systems, and Cost practice law before all federal and state B.A., Sociology, Accounting. courts in New York State and the District of Seton University Columbia. He maintains an active statewide B.B.A., Accounting, Niagara University practice with emphasis on commercial and Certified Public Accountant, New York State civil litigation. Mr. Shanahan has published frank C. Torchio, License various articles in the Albany Law Review and Lecturer in Finance and Economics M.B.A., Accounting, the International Practitioner’s Notebook. He has Rochester Institute of Technology lectured extensively to legal and professional Mr. Torchio is the president of Forensic Ph.D., Information Science, groups, speaking on a number of topics con- Economics Inc., located in Rochester, N.Y. State University of New York at Albany cerning the civil justice system. He founded Forensic Economics in 1989. Shanahan is a three-time recipient of the Torchio is the 1991 Rosenthal Fellow at the President’s Distinguished Service Award by University of Rochester and teaches courses in Mark W. Wilson, the New York State Trial Lawyers Asso cia tion. finance and economics at the Simon School. Lecturer in Entrepreneurship He is a founding member of the New York For over 18 years, Torchio has consulted on numerous litigation assignments pertaining Mr. Wilson founded Initiatives Consulting Trial Lawyers Academy and a member of the L.L.C. in 1997 to help clients turn technical American Board of Trial Advocates. He has to financial valuations, regulatory economics, transfer pricing, and analysis of stock ideas into new products and companies. served as both an officer and director of the Initiatives Consulting has created business New York State Trial Lawyers Association. price responses to public informtion. His assignments include the Cendant, Enron and plans, marketing support, and road show B.S. (cum laude), Management Law and Worldcom securities litigations, and the law- coaching that has been instrumental in starting Economics, suits arising out of the recent private-equity six companies, raising several million dol- Rensselaer Polytechnic Institute acquisitions including the Kinder Morgan lars of seed money, and launching two new J.D., Albany Law School of Union University transaction and the Clear Channel transaction. medical devices. Since 2004, Wilson has taken (Member, Albany Law Review) Torchio has testified at trial and numer- nearly 200 teams through an intense work- ous times in depositions and at arbitrations. shop to jump-start their technology-based His areas of expert testimony include busi- product ideas (see psw-ny.org). Over the past BOB TOBIN, ness valuation, investment portfolio analysis, three years, Initiatives has been providing Lecturer in Entrepreneurship damages arising from breach of contract, outsourced design, development and testing and damages in securities fraud lawsuits. He services to a mid-sized company, including a Mr. Tobin’s current position is Entrepreneur- has coauthored an article with the late Simon proprietary syringe-product and a device to re- in-Residence at the University’s Center School Professor Michael J. Barclay about the duce catheter-related blood stream infections. for Entrepreneurship as well as Associate trading models used for estimating damages Wilson has conducted market and competi- Director of the Center. in securities lawsuits. The article is published tive research, recommended pricing strate- Prior to the University, he was president in Duke University School of Law’s Law and gies and business models and directed sales and C.E.O. of Tobin & Associates Inc., an Contemporary Problems. training and business development endeavors. information technology services firm that was Torchio has passed the Level III examina- He has been commissioned for hundreds of established in 1987. Over the next 20 years, tion of the chartered financial analyst (CFA®) conceptual sketches. He has created cartoons, the company grew from six employees to over program of the CFA Institute and has been video storyboards and marketing collateral for 140, while extending the core competencies awarded the CFA® charter. a variety of technology and product areas. and capabilities to better meet the evolving With diverse roles prior to Initiatives in technical requirements of its clients. B.A., Mathematics, product design, process engineering, optical Tobin & Associates Inc. was a seven-time Niagara University tooling, lean manufacturing and automation, recipient of the Rochester Top 100 Award M.B.A., Wilson has been involved in the creation and and also received the Quality First Award University of Rochester launch of five new medical device platforms from Eastman Kodak Company. Tobin & currently generating more than $1 billion in Associates Inc. was also awarded the Empire annual sales. As a project manager, Wilson has State Employer Recognition Award, earning thomas tribunella, installed over $12 million in capital. He has statewide praise for its proactive employment Lecturer in Accounting over eight years engineering management ex- efforts on behalf of physically challenged Professor Tribunella’s teaching and research perience leading groups of up to 70 resources individuals. and budgets to $3.5 million. In addition to his business and education interests are in the fields of accounting and pursuits, Tobin is very active in the Rochester information systems. He has published papers B.S., Mechanical Engineering, community. He was an inaugural mem- related to markup languages such as XML and Rensselaer Polytechnic Institute ber of the Entrepreneurial Partnership of XBRL, open source accounting systems, and M.S., Mechanical Engineering, Nazareth College, a member of the Rochester technology’s effect on productivity. He has Rensselaer Polytechnic Institute Rehabilitation Center Board, board member also won four best paper awards at academic of the Center for Information Services (a conferences. Examples of his publication nonprofit IT collaboration project) and a appear in the following outlets, among others: board member at Coordinated Care Services Journal of Information Systems, The CPA Journal, Inc. He is past president of the Small Business The Review of Business Information Systems, Journal Council of the Greater Metro Rochester of Global Information Management and Journal of Chamber of Commerce, past board president Business and Economics Research. of the Rochester Rehabilitation Center and Tribunella worked in industry as an audi- past president of Prevention Partners, a drug tor and accountant before beginning a career use prevention and education agency. in academia. He has been on the faculty Tobin was named Small Business Person at the Rochester Institute of Technology, of the Year by the Small Business Council SUNY Institute of Technology, SUNY

15 Simon Graduate School of Business Information Guide 2010–2012

M.B.A. REQUIREMENTS AND CORE-COURSE CHARTS

To earn the Master of Business Administra- • Business Systems Consulting CORE COURSES tion degree, a student must complete 67 • Competitive and Organizational Strategy; credit-hours of study (64 credit-hours for Pricing Track ACC 401. Corporate Financial Accounting part-time study) with a 3.0 grade-point • Computers and Information Systems CIS 401. Information Systems for average. Full-time M.B.A. candidates must • Corporate Accounting Management successfully complete a Communicating • Electronic Commerce Business Decisions course sequence, the • Entrepreneurship FIN 402. Capital Budgeting and Corporate Simon VISION Program, and starting with • Finance Objectives the 201011 academic year, full-time M.B.A. • Health Sciences Management GBA 411. Framing and Analyzing Business program students who start their program in • International Management Problems 1 September must also complete at least two • Marketing; Experience Simon Modules. Brand Management Track and Pricing Track GBA 412. Framing and Analyzing Business The M.B.A. curriculum consists of nine • Operations Management—Manufacturing Problems 2 required core courses, plus a Communicating • Operations Management—Services MKT 402. Marketing Management Business Decisions course sequence over three • Public Accounting OMG 402. quarters (full-time students only). Waivers Operations Management are permitted for some of the core courses. Because of the increasing reliance managers STR 401. Managerial Economics The list of core courses for which waivers are place on information technology, knowledge STR 403. The Economic Theory of permitted and the details of the waiver policy of and a substantial ability to use computers is Organizations are available on internal Web sites at Simon. integral to the Simon education. Waivers do not reduce the number of credits Much of the academic work in the M.B.A. In addition, full-time M.B.A. students are needed to get the M.B.A. degree. program will rely on computer-based analysis required to take the Communicating Business Additionally, 11 electives, and one addition- and computer-assisted presentations. Upon Decisions course sequence. al for each waived core course, are required. entry to the program, faculty will expect stu- Although not required, students may complete dents to have a working knowledge of spread- a concentration. Most opt for at least one and, sheet and word-processing software. The pro- in many cases, two. Concentrations permit grams most widely used are Microsoft Excel students to develop expertise in the following and Access. Most of the core curriculum and areas: several elective courses require significant computer use. • Accounting and Information Systems • Business Environment and Public Policy

First-Year Mandatory Core-Course Sequence for Full-Time M.B.A. September Entrants

Fall Quarter Winter Quarter Spring QuarTER September–December January–March March–June

ACC 401* GBA 412 STR 403 Corporate Financial Framing and Analyzing The Economic Theory Accounting Business Problems 2 of Organizations

STR 401* MKT 402 CIS 401* Managerial Economics Marketing Information Systems Management for Management

FIN 402 OMG 402 Elective Capital Budgeting and Operations Corporate Objectives Management

GBA 411* Elective Elective Framing and Analyzing Business Problems 1

MGC 401 (Module I) MGC 402 (Module II) MGC 403 (Module III) Communicating Business Communicating Business Communicating Business Decisions Decisions Decisions

Total Credit Hours: 16 Total Credit Hours: 13 Total Credit Hours: 14

Notes: Courses carry three credit-hours unless otherwise noted. Electives are listed in course descriptions beginning on page 32 of this guide. *Three credit-hour lecture plus one credit-hour lab

16 Simon Graduate School of Business Information Guide 2010–2012

First-Year Mandatory Core-Course Sequence for Full-Time M.B.A. January Entrants

WINTER Quarter Spring Quarter Summer QuarteR January–March March–June June–August ACC 401* GBA 412 OPTION A Corporate Financial Framing and Analyzing STR 403 Accounting Business Problems 2 The Economic Theory of Organizations

STR 401* MKT 402 CIS 401* Managerial Marketing Information Systems for Economics Management Management

FIN 402 OMG 402 Elective Capital Budgeting and Operations Corporate Objectives Management

GBA 411* Elective OPTION B** Framing and Analyzing Summer Internship Business Problems 1

MGC 402 (Module II) and MGC 401 (Module I) Communicating Business MGC 403 (Module III) Communicating Business Decisions Decisions Total Credit Hours: 16 Total Credit Hours: 14 Total Credit Hours Can Vary

Notes: Courses carry three credit-hours unless otherwise noted. Electives are listed in course descriptions beginning on page 32 of this guide. *Three credit-hour lecture plus one credit-hour lab **The U.S. Immigration and Naturalization Service requires enrollment of international students for at least one full academic year (three quarters) before eligibility is granted within the United States for paid, off-campus employment, including an internship. Participation in Simon’s English Language and U.S. Culture (E.L.U.S.C.) Program is one option that may fulfill this particular requirement and requires approval by the Admissions Committee.

Part-Time Flexible M.B.A. Core-Course Offerings** (For an updated listing, see the Simon Information Guide 2010–2012 at www.simon.rochester.edu after December 2010.)

FALL Quarter Winter Quarter Spring Quarter Summer Quarter September–December January–March March–June June–August

ACC 401* Corporate Financial Accounting ✓ ✓

FIN 402 ✓ Capital Budgeting and Corporate Objectives ✓

STR 401* Managerial Economics ✓ ✓ ✓

GBA 411* Framing and Analyzing Business Problems 1 ✓ ✓

CIS 401* Information Systems for Management ✓ ✓ ✓

MKT 402 Marketing Management ✓ ✓

OMG 402 Operations Management ✓ ✓

STR 403 The Economic Theory of Organizations ✓ ✓ ✓

GBA 412 Framing and Analyzing Business Problems 2 ✓ ✓

Simon Accelerated Professional M.B.A. (PMBA) Program The Simon Accelerated Professional M.B.A. (PMBA) is a part-time evening program distin- Simon Accelerated Professional M.B.A. (PMBA) Course Schedule guished by its class-cohort system and acceler- Fall—Year 1 STR 401* Managerial Economics ated pace. Students attend nine core courses FIN 402 Capital Budgeting and Corporate Objectives together in a structured sequence of two classes per quarter, subsequently selecting 11 electives required to complete desired degree Winter—Year 1 GBA 411* Framing and Analyzing Business Problems 1 concentrations. ACC 401* Corporate Financial Accounting Need- and merit-based scholarships are available to program participants and text- Spring—Year 1 MKT 402 Marketing Management books for core courses are included in tuition GBA 412 Framing and Analyzing Business Problems 2 fees. Additional events and services are designed exclusively for program participants. With the PMBA course schedule, work- Summer—Year 1 STR 403 The Economic Theory of Organizations ing professionals can earn a graduate busi- Elective ness degree in approximately 2.5 years. The same degree, faculty and concentrations are Fall—Year 2 OMG 402 Operations Management available for the PMBA as with the full-time M.B.A. Non-matriculated Simon students Elective may also apply for acceptance in the program. A new entering cohort is selected each fall Winter—Year 2 CIS 401* Information Systems for Management quarter. Elective

Spring—Year 2 Elective Elective

Summer—Year 2 Elective Optional** Elective

Fall—Year 3 Elective Elective

Winter—Year 3 Elective Elective

*Three credit-hour lecture plus one credit-hour lab **If a student opts not to register for the Summer quarter of the second year, courses may be taken in Spring of the third year to complete the program.

18 Simon Graduate School of Business Information Guide 2010–2012 CONCENTRATIONS—M.B.A.

Accounting and Information The other two may be selected from this list: Competitive and Systems (AIS) Organizational Strategy (STR) (6 courses) STR 422. Strategic Decision Making: Theory (5 courses) and Practice Given the close working relationship between STR 423. Pricing Policies (MKT 414) The Competitive and Organizational Strategy the accounting function and information STR 424. Managing Human Resources concentration builds on the economic funda- technology in organizations, the School offers STR 425. Organization of Industry and mentals introduced in STR 401 and STR 403. a joint concentration in Accounting and Markets Its cross-functional and integrative curriculum Computers and Information Systems. The STR 426. Property Rights and the Law provides a sound basis for the evaluation and concentration provides thorough training in implementation of a broad range of business both areas. strategies and policies. Topics included are: Business Systems Consulting policies internal to the firm such as compensa- Required core courses, plus six other courses. (5 courses) tion, performance evaluation, job design and At least four must be selected from this aspects of hiring; strategic interaction among list: This concentration appeals to students seeking industry competitors, including pricing and an opportunity to use their skills in new ways, advertising; and the influence of external ACC 410. Accounting for Management and in environments that promote free thinking, factors such as the regulatory and macroeco- Control and present extreme challenges while making nomic environments. ACC 411. Financial Statement Analysis a real impact. Skills offered by the STR curriculum will ACC 438. Auditing II—Auditing and The Simon School concentration in develop the student’s ability to identify the Information Systems Business Systems Consulting offers a cutting- root causes of business problems and sources CIS 413. The Economics of Information edge, highly focused program designed to of new opportunities. The student will Management equip students with the skills and experience respond to these problems and opportunities CIS 415. Business Process Analysis and necessary to excel in the business systems with innovative solutions and strategies based Design (ECM 415) consulting enterprise. While students will be upon the School’s economics-based approach CIS 416†. Advanced Information exposed to a variety of career possibilities dur- to management. The concentration holds Technology (ECM 416) ing the course of their studies, most students particular interest to those seeking careers in are likely to assume a position in the business consulting, general management or industry The other two may be selected from this list: systems practice of one of the major consult- analysis, as well as those seeking an integra- ing firms. tive complement to concentrations in other ACC 417. Auditing functional areas. Particular emphasis goes to ACC 418. Taxes and Business Strategy Required core courses, plus five other courses. developing the student’s capacity to deal with ACC 419. Positive Accounting Research At least two must be selected from this list: unstructured business situations. ACC 423. Financial Reporting I ACC 424. Financial Reporting II Required core courses, plus five other courses. ACC 431. International Financial Statement CIS 415. Business Process Analysis and At least three must be selected from this list: Analysis Design (ECM 415) CIS 446†. Financial Information Systems CIS 461. Strategy and Business Systems STR 421. Economics of Competitive (FIN 446) Consulting Practicum (OMG 461) Strategy CIS 512. Advanced Topics in Database or STR 422. Strategic Decision Making: Theory Design OMG 415. Process Improvement and Practice FIN 413. Corporate Finance STR 423. Pricing Policies (MKT 414) The other three electives must be selected STR 424. Managing Human Resources from this list: STR 431. Practicum on Competitive Strategy Business Environment and STR 440. Organizational Governance and Public Policy (BPP) ACC 438. Auditing II—Auditing and Control (4 courses) Information Systems CIS 416†. Advanced Information The other two may be selected from this list: Business success requires an understanding Technology (ECM 416) of the economic environment in which a firm CIS 418. Business Modeling and Analysis ACC 411. Financial Statement Analysis operates. The Business Environment and for Management BPP 426. Macroeconomics Public Policy concentration provides the skills CIS 440. Electronic Commerce Strategy BPP 440. Evolving Medical Markets (HSM required to achieve this understanding. (ECM 440) 440) CIS 446†. Financial Information Systems BPP 442. International Economics and Required core courses, plus four other (FIN 446) Finance (FIN 422) courses. At least two of the four must be ECM 437. Marketing on the Internet CIS 413. The Economics of Information selected from this list: (MKT 437) Management MKT 436. Database Marketing (ECM 436) CIS 415. Business Process Analysis and BPP 426. Macroeconomics OMG 411. Supply Chain Management Design (ECM 415) BPP 431. Legal and Tax Considerations of OMG 412. Service Management CIS 461. Strategy and Business Systems New Ventures (ENT 431) OMG 413. International Manufacturing and Consulting Practicum (OMG 461) BPP 440. Evolving Medical Markets (HSM Service Strategy FIN 413. Corporate Finance 440) OMG 415. Process Improvement FIN 423. Corporate Financial Policy and BPP 442. International Economics and OMG 416. Project Management Control Finance (FIN 442) OMG 437. Managing Health Care Operations FIN 433. Cases in Finance FIN 430. Financial Institutions (HSM 437) STR 421. Economics of Competitive Strategy † Not offered in 2010–2011 19 Simon Graduate School of Business Information Guide 2010–2012

GBA 435. Negotiation Theory and Practice: The faculty in the Competitive and Remaining one or two courses selected from Bargaining for Value (ENT 435) Organizational Strategyt and Marketing areas this list: GBA 486. Management of Technology have determined that a student completing MKT 435. Distribution Channels and these courses would also satisfy the require- ACC 438. Auditing II—Auditing and Salesforce Management ments for the Competitive and Organizational Information Systems MKT 441. Brand Management Workshop Strategy and Marketing concentrations. CIS 418. Business Modeling and Analysis MKT 449. Global Marketing Strategy for Management OMG 412. Service Management Computers and Information CIS 440. Electronic Commerce Strategy OMG 413. International Manufacturing and Systems (CIS) (ECM 440) Service Strategy CIS 446.† Financial Information Systems STR 425. Organization of Industry and (4 courses) (FIN 446) Markets The Computers and Information Systems area CIS 512. Advanced Topics in Database STR 426. Property Rights and the Law enjoys international recognition for its innova- Design STR 427. Organizational Behavior tive research and teaching programs. The CIS ECM 437. Marketing on the Internet (MKT STR 430. Health Sciences Management and concentration, taken by itself or combined 437) Strategy (HSM 430) with another functional concentration such as MKT 436. Database Marketing (ECM 436) STR 441. Executive Strategy Seminar accounting, electronic commerce, finance or operations management, prepares students to Pricing Track manage the broad array of information-sys- Corporate Accounting (ACC) (6 courses) tems issues that arise in every organization or (5 courses) The Pricing Track is offered for those stu- to act as successful management consultants. The program focuses on the leading Corporations actively recruit M.B.A. account dents who desire a state-of-the-art training in ing majors for positions in the offices of con- pricing and for those interested in pursuing a approaches used in the design and development of effective business processes that troller, treasurer and internal auditing, as well career in pricing. The track resides within the as in accounting departments. Many corporate Competitive and Organizational Strategy and leverage information technology. It also emphasizes the major business issues that arise finance positions also require strong corporate Marketing concentrations and leverages our accounting backgrounds. School’s strengths in economics and marketing in choosing information technologies, designing information processes for improving the analytics. Required core courses, plus: The Pricing Track is offered by the effectiveness of specific applications and using enterprise information technology for gaining Competitive and Organizational Strategy ACC 411. Financial Statement Analysis and Marketing faculty at the Simon School competitive benefits. The concentration develops the necessary skills for managing in the FIN 411. Investments to enable students to integrate their knowl- FIN 413. Corporate Finance edge of analytic marketing, cost accounting, current environment of rapid technological evolution, increased competition and global finance, managerial economics, operations and Plus two courses selected from this list: strategy through the application of pricing markets. The placement of Simon CIS students in retail or investment banks, Fortune 500 optimization tools and technologies to deliver ACC 410. Accounting for Management and profitable pricing strategies for their organiza- manufacturers and international consulting companies has been very strong. Typical CIS Control tions. ACC 417. Auditing A student wishing to take the Pricing Track careers include electronic commerce leadership, the management of corporate informa- ACC 418. Taxes and Business Strategy should complete the following five required ACC 419. Positive Accounting Research courses: tion systems, business process re-engineering and general management consulting. ACC 423. Financial Reporting I ACC 424. Financial Reporting II STR 423. Pricing Policies (MKT 414) In the required courses, students learn how to analyze the fundamental subjects of busi- ACC 431.† International Financial Statement (Should be taken before courses Analysis listed below) ness information and decision processes in organizations, and the resulting economic and FIN 423. Corporate Financial Policy and STR 442A. B2B Pricing (MKT 442A) Control or technological trade-offs. In the advanced elec- STR 442B. Advanced Topics in Pricing tives, students can study various aspects of electronic commerce, business process design, STR 421. Economics of Competitive Electronic Commerce (ECM) Strategy advanced information technologies, financial- MKT 412. Marketing Research information systems and business data com- (5 courses) MKT 436 Database Marketing munications systems. A technical background prior to entering The Simon School introduced a concentration in Electronic Commerce in September 1999. In addition to these required courses, the the M.B.A. program is not a prerequisite to success in the CIS concentration. Managing in this rapidly evolving environment faculty require one additional course from the requires an understanding of the technology list below: The faculty in this area make use of com puters in the curriculum and in elective cours- infrastructure needed for e-commerce and the es and also allow their use in some exams. new business models that leverage on the spe- ACC 410. Accounting for Management and cial capabilities of the Internet. Students learn Control Required core courses, plus: state-of-the-art tools for supporting the mar- GBA 435. Negotiation Theory and Practice: keting, logistical, financial and service-delivery Bargaining for Value (ENT 435) aspects of doing business online. The concen- STR 442A. B2B Pricing (MKT 442) CIS 413. The Economics of Information Management tration prepares students to create, manage, or direct and analyze e-commerce initiatives. STR 442B Advanced Topics in Pricing At least one of: Courses in this concentration combine ideas, (Counting only the one not taken cases, projects and guest lectures by Internet to satisfy the above list) entrepreneurs. STR 422. Strategic Decision Making: CIS 415. Business Process Analysis and Theory and Practice Design (ECM 415) CIS 416.† Advanced Information Technology (ECM 416) † Not offered in 2010–2011 20 Simon Graduate School of Business Information Guide 2010–2012

Required core courses, plus: ENT 424. Projects in Entrepreneurship Health ScienceS Management ENT 426.† Technology Transfer and (HSM) ECM 437. Marketing on the Internet (MKT Commercialization (5 courses) 437) ENT 427.† Practicum in Technology Transfer ECM 440. Electronic Commerce Strategy and Commercialization The Health Sciences Management concentra (CIS 440) ENT 431. Legal and Tax Considerations of tion draws on the Simon School’s proven New Ventures strengths and directs them to a dynamic indus- Plus at least one from the Marketing electives: ENT 432. Basic Business Law try. The Simon School’s concentration focuses ENT 435. Negotiation Theory and Practice: primarily on two management issues: ongoing MKT 412. Marketing Research Bargaining for Value (GBA 435) operations and strategic planning. This is in MKT 433. Advertising and Sales Promotion FIN 422. † Special Topics in Finance—Real contrast to the traditional Master of Public MKT 435. Distribution Channels and Estate Health programs which generally focus on Salesforce Management FIN 433. Cases in Finance public policy issues. The program especially ECM 436. Database Marketing (MKT 436) MKT 412. Marketing Research suits future health sciences consultants and MKT 414. Pricing Policies (STR 423) front-line managers in health maintenance Plus at least one from the Information OMG 461. Strategy and Business Systems organizations, hospitals, insurance companies Technology electives: Consulting Practicum and pharmaceutical firms. STR 421. Economics of Competitive ECM 415. Business Process Analysis and Strategy Required core courses, plus five additional Design (CIS 415) courses as follows: ECM 416.† Advanced Information Finance (FIN) Technology (CIS 416) At least two of: CIS 446. † Financial Information Systems (5 courses) (FIN 446) The Simon School is best known for its HSM 420. Business Economics of the Health research and scholarship in the area of Care Industry One elective can be from the following: finance. This concentration provides students HSM 430. Health Sciences Management and with state-of-the-art techniques for financial Strategy (STR 430) OMG 411. Supply Chain Management analysis. Students learn to formulate and solve HSM 431. Applications of Corporate GBA 423. New Venture Management and important corporate-finance problems and to Finance and Governance to Entrepreneurship (ENT 423) obtain information from the many databases Health Care on financial markets. HSM 437. Managing Health Care Operations (OMG 437) Entrepreneurship (ENT) Required core courses, plus: HSM 440. Evolving Medical Markets (BPP (5 courses) 440) FIN 411. Investments The Simon School is committed to the FIN 413. Corporate Finance The remaining courses can be taken from the teaching of entrepreneurship. The Entre list below: preneurship concentration allows the student Plus three courses selected from this list: to draw from a variety of carefully selected ACC 411. Financial Statement Analysis courses to become a business generalist, well ACC 411. Financial Statement Analysis CIS 415. Business Process Analysis and versed in organizing and managing resources. ACC 423. Financial Reporting I Design (ECM 415) Graduates with this concentration have started ACC 424. Financial Reporting II HSM 425. Managerial Accounting for Health their own ventures or have pursued “intra- ACC 431.† International Financial Statement Care Organizations preneurial” careers with major corporations. Analysis OMG 412. Service Management Students often combine this concentration BPP 426. Macroeconomics STR 421. Economics of Competitive with finance or marketing to further enhance FIN 423.† Corporate Financial Policy and Strategy their educational base. This is especially true Control STR 424. Managing Human Resources for those pursuing investment banking/M&A FIN 424. Options and Futures Markets where the entrepreneurship knowledge can be FIN 430. Financial Institutions Courses taught at the University of Rochester very useful. FIN 433. Cases in Finance School of Medicine and Dentistry, Department of FIN 434. Investment Management and Community and Preventive Medicine may be eligible Required core courses, plus: Trading Strategies for credit towards your M.B.A. Health Sciences FIN 442. International Economics and Management elective. Please contact your area coordi- ENT 422. Generating and Screening Finance (BPP 442) nator for details. Entrepreneurial Ideas (GBA 422) FIN 446.† Financial Information Systems (CIS 446) Additionally, one of the remaining courses Plus two of: FIN 448. Fixed-Income Securities may be taken from the following, provided the FIN 511. Advanced Financial Economics project is health care related: ENT 423. New Venture Development and FIN 532. Advanced Topics in Capital Managing for Long Term Success Markets MKT 441. Brand Management Workshop (GBA 423) FIN 534. Advanced Topics in Corporate OMG 415. Process Improvement or Finance STR 431. Practicum on Competitive Strategy ENT 425. Technical Entrepreneurship HSM 431. Applications of Corporate and Finance and Governance to ENT 444. Entrepreneurial Finance Health Care STR 440. Organizational Governance and Plus two courses selected from this list: Control ACC 411. Financial Statement Analysis

† Not offered in 2010–2011 21 Simon Graduate School of Business Information Guide 2010–2012

International Management STR 421. Economics of Competitive Brand Management Track The International Management concentra- Strategy (5 courses) tion gives students opportunities to apply STR 424. Managing Human Resources For those students wishing to become brand/ various disciplines to international markets. product managers in either the consumer or Differences in legal environments, currencies Plus one term in one of the approved industrial products markets or in financial and workplace practices among countries pro- International Exchange Programs (GBA services, a unique Brand Management Track vide both challenges and problems for busi- 492—six credits; GBA 493—nine credits). is offered. nesses operating in the global marketplace. Participation in the program requires tak- One of two options will satisfy the con- Marketing (MKT) ing MKT 412 (Marketing Research), MKT centration. The International Management 441 (Brand Management Workshop) and option includes one required course and three (5 courses) choosing three courses out of: electives. The International Management Marketing knowledge and skills have become Exchange option includes one required a necessity in today’s increasingly competitive MKT 414. Pricing Policies (STR 423) course, one elective and one term (minimum global business environment. Regardless of MKT 432. Product Planning and of six credits) in an approved International the kind of business—consumer goods or Development Exchange Program. industrial goods, financial services or the non- MKT 433. Advertising and Sales Promotion profit sector—success depends on satisfying MKT 435. Distribution Channels and International Management (ITL) the customer better than one’s competitors. Salesforce Management The Marketing concentration at the Simon (4 courses) MKT 448. Brand Strategy Workshop School prepares M.B.A. students for these Required core courses, plus: challenges. Alumni with Marketing concen- Pricing Track trations now hold key positions in market- FIN 442. International Economics and ing management, research and consulting. (6 courses) Finance (BPP 442) Specialized programs are offered to students The Pricing Track is offered for those stu- interested in brand management. In addition, dents who desire a state-of-the-art training in Plus three courses selected from this list: many students have combined marketing with pricing and for those interested in pursuing a another discipline to round out their educa- career in pricing. The track resides within the ACC 431.† International Financial Statement tion. Popular combinations include market- Competitive and Organizational Strategy and Analysis ing/finance, marketing/operations manage- Marketing concentrations and leverages our BPP 426. Macroeconomics ment, and marketing/electronic commerce. School’s strengths in economics and marketing GBA 435. Negotiation Theory and Practice: The Marketing curriculum emphasizes analytics. Bargaining for Value (ENT 435) the integration of applications with theory. The Pricing Track is offered by the GBA 486.† Management of Technology Applications are introduced via cases, expe Competitive and Organizational Strategy (ENT 486) riential exercises, guest speakers and projects. and Marketing faculty at the Simon School GBA 494. Foreign Language Transfer Credit Elective courses provide opportuni ties to pur- to enable students to integrate their knowl- (three credits) sue specific interests in marketing. edge of analytic marketing, cost accounting, MKT 449. Global Marketing Strategy finance, managerial economics, operations and OMG 413. International Manufacturing and Required core courses, plus: strategy through the application of pricing Service Strategy optimization tools and technologies to deliver STR 421. Economics of Competitive MKT 412. Marketing Research profitable pricing strategies for their organiza- Strategy tions. STR 424. Managing Human Resources Plus four elective courses from the following A student wishing to take the Pricing Track list. At least two of those elective courses should complete the following five required must be from Group A. courses: International Management Exchange (ITLE) Group A STR 423. Pricing Policies (MKT 414) (Two courses at the Simon School, plus MKT 414. Pricing Policies (STR 423) (Should be taken before courses International Exchange Program. See MKT 432. Product Planning and listed below) p. 48) Development STR 442A. B2B Pricing (MKT 442A) MKT 433. Advertising and Sales Promotion or FIN 442. International Economics and MKT 435. Distribution Channels and STR 442B. Advanced Topics in Pricing Finance (BPP 442) Salesforce Management STR 421. Economics of Competitive Strategy Plus one course selected from this list: Group B MKT 412. Marketing Research HSM 440. Evolving Medical Markets (BPP MKT 436 Database Marketing ACC 431.† International Financial Statement 440) Analysis MKT 431. Consumer Behavior In addition to these required courses, the BPP 426. Macroeconomics MKT 436. Database Marketing (ECM 436) faculty require one additional course from the GBA 435. Negotiation Theory and Practice: MKT 437. Marketing on the Internet (ECM list below: Bargaining for Value (ENT 435) 437) GBA 486.† Management of Technology MKT 441. Brand Management Workshop ACC 410. Accounting for Management and (ENT 486) MKT 442. Special Topics in Marketing Control GBA 494. Foreign Language Transfer Credit MKT 448. Brand Strategy Workshop GBA 435. Negotiation Theory and Practice: (three credits) MKT 449. Global Marketing Strategy Bargaining for Value (ENT 435) MKT 449. Global Marketing Strategy MKT 451. Computation and Analysis of STR 442A. B2B Pricing (MKT 442) OMG 413. International Manufacturing and Advanced Quantitative Marketing or Service Strategy Models STR 442B Advanced Topics in Pricing (Counting only the one not taken to satisfy the above list) STR 422. Strategic Decision Making: † Not offered in 2010–2011 Theory and Practice 22 Simon Graduate School of Business Information Guide 2010–2012

The faculty in the Competitive and Operations Management— Public Accounting (CPA) Organizational Strategy and Marketing areas Services (OMGS) (13 courses*) have determined that a student completing (4 courses) these courses would also satisfy the require- The Public Accounting concentration offers ments for the Competitive and Organizational Operations Management is concerned with courses needed toward the requirements for Strategy and Marketing concentrations. the management of a firm’s physical, financial the Uniform Certified Public Accounting and human resources with the objective of (CPA) examination in New York and other states. Assuming that students have met Operations Management— producing goods and services. Operations management is becoming increasingly impor- certain undergraduate prerequisite require- Manufacturing (OMGM) tant due to renewed interest in productivity ments, this program has been designated by (4 courses) and the utilization of operations for competi- the New York State Education Department Operations Management is concerned with tive advantage. Students may choose one of has fulfilling the 150 credit hour requirements the management of a firm’s physical, financial two tracks—service management or manufac- for professional education programs in public and human resources with the objective of turing management. accountancy. Students whose undergradu- producing, distributing and selling goods and The service management track appeals to ate programs do not satisfy all the assumed services. Operations Management has become students preparing for a career in service-ori- prerequisites will be advised of the additional increasingly important due to renewed interest ented industries such as finance, consulting courses that they must complete following a in productivity and the utilization of opera- and retailing. We recommend this track for review of the undergraduate transcript. The tions for competitive advan tage. Students may those targeting a career with line responsibili- New York State Department of Education choose one of two tracks—manufacturing ties or consulting. The service track will help will have final approval upon application for management or service management. students receive a general management per- licensure. The manufacturing management track spective.* appeals to students preparing for a career in Required core courses, plus: manufacturing or consulting. This track ben- Required core courses, plus: efits those managing the manufacturing func- ACC 410. Accounting for Management and tion, as well as those supporting it in finance, OMG 413. International Manufacturing and Control accounting and marketing. The manufacturing Service Strategy ACC 411. Financial Statement Analysis track provides training in the latest ideas about OMG 415. Process Improvement ACC 417. Auditing production management.* ACC 418. Taxes and Business Strategy The faculty in this area make use of com- Plus one of these courses: ACC 419. Positive Accounting Research puters in the core courses and in elective ACC 423. Financial Reporting I courses and also allow their use in exams. OMG 412. Service Management ACC 424. Financial Reporting II OMG 437. Managing Health Care Operations ACC 436. Research Into Professional Required core courses, plus: (HSM 437) Accounting Standards ACC 437. Basic Federal Income Tax OMG 411. Supply Chain Management Plus one course selected from this list: Accounting OMG 412. Service Management ACC 438. Auditing II—Auditing and OMG 413. International Manufacturing and CIS 415. Business Process Analysis and Information Systems Service Strategy Design (ECM 415) BPP 432. Basic Business Law (ENT 432) OMG 415. Process Improvement FIN 446.† Financial Information Systems FIN 411. Investments (CIS 446) FIN 413. Corporate Finance OMG 412. Service Management OMG 416. Project Management By fulfilling the Public Accounting concentration requirements, students will also fulfill the *Experience has shown that students pursuing a career Finance concentration requirements and the in Operations Management benefit from taking addi- Corporate Accounting concentration require- tional courses such as STR 424 (Managing Human ments. Resources) or STR 427 (Organizational Behavior). *This concentration requires 13 electives, 11 of which are included in the requirement for the full-time M.B.A. The final two courses necessary to complete this concentration are offered free of charge.

† Not offered in 2010–2011 23 Simon Graduate School of Business Information Guide 2010–2012

MASTER OF SCIENCE PROGRAMS

MASTER OF SCIENCE has been designated by the New York State ACC 411. Financial Statement Analysis IN ACCOUNTANCY Education Department as fulfilling the 150 ACC 417. Auditing credit hour requirements for professional ACC 419. Positive Accounting Research Focused Graduate Training in Accountancy education programs in public accountancy. ACC 423. Financial Reporting I The Master of Science in Accountancy pro- Students whose undergraduate programs do ACC 424. Financial Reporting II gram is designed for students who hold a not satisfy all the assumed prerequisites will ACC 436. Research Into Professional bachelor’s degree in business, economics or be advised of the additional courses that they Accounting Standards accounting and seek to pursue Certified Public must complete following a review of their ACC 437. Basic Federal Income Tax Accounting (CPA) licensure. New York State, undergraduate transcript. The New York State Accounting as well as most other states, has adopted a 150 Department of Education will have final ACC 438. Auditing II—Auditing and credit hour educational requirement which approval upon application for licensure. The Information Systems can be satisfied with a combination of under- M.S. in Accountancy program can be complet- BPP 432. Basic Business Law (ENT graduate and graduate courses. The courses ed in eleven months of full-time study begin- 432) listed below are those which are required for ning in July. It is also offered on a part-time MGC 401–3 Communicating Business the M.S. in Accountancy degree. Assuming basis. A 3.0 grade point average is required for Decisions (Modules I, II and III) that students have met certain undergradu- graduation. Elective Accounting or Business ate prerequisite requirements, this program Elective Business

Master of Science in Accountancy Typical Study Plan

SUMMER Quarter FALL Quarter WINTER QuarTER Spring quarter June–August September–December January–March March–June

BPP 432 ACC 417 ACC 437 ACC 411 Basic Business Law Auditing Basic Federal Income Financial Statement Analysis (Option to take in Fall) Tax Accounting

*Elective ACC 423 ACC 438 ACC 424 Financial Reporting I Auditing II—Auditing and Financial Reporting II Information Systems

MGC 401 (Module I) ACC 436 ACC 419 *Elective Communicating Business Research Into Professional Positive Accounting Research Decisions Accounting Standards

BPP 432 MGC 403 (Module III) *Elective Basic Business Law Communicating Business (if not taken in Summer) Decisions

MGC 402 (Module II) Communicating Business Decisions

MGC 401 (Module I) Communicating Business Decisions (if not taken in Summer)

*Elective

*MS ACC students are required to take one business elective and one accounting/business elective during their 11-month program of study. The accounting/business elective is dependent on the the student’s undergraduate studies. Students will be advised during orientation as to what their particular elective requirements are. For any academic questions, please contact Heidi Tribunella.

24 Simon Graduate School of Business Information Guide 2010–2012

MASTER OF SCIENCE IN BUSINESS who study on a full-time basis can complete ACC 431.† International Financial Statement ADMINISTRATION—FINANCE the program in nine months beginning in the Analysis fall. A 3.0 grade point average is required for APS 425. Advanced Managerial Data The Master of Science in Business Administra graduation. Analysis tion degree with a concentration in Finance is BPP 426. Macroeconomics available as follows for full-time study: Required courses: CIS 418. Advanced Business Modeling and • September Start: Students who have already Analysis Using Spreadsheets earned an M.B.A. with a general manage- ACC 410. Accounting for Management FIN 423. Corporate Financial Policy and ment or non-finance focus, and need addi- and Control Control tional training in the finance area and/or are FIN 402.* Capital Budgeting and FIN 424. Options and Futures Markets considering a career change. Corporate Objectives (can be FIN 430. Financial Institutions • July Start: Students with a completed Bach waived by area coordinator) FIN 433. Cases in Finance elor’s degree and a demonstrated quantita- FIN 411. Investments FIN 434. Investment Management and tive aptitude. FIN 413. Corporate Finance Trading Strategies Both options are available for part-time study. MGC 401–3 Communicating Business FIN 442. International Economics and Decisions (Modules I, II and III) Finance Program Requirements (for those holding an STR 403. The Economic Theory of FIN 446.† Financial Information Systems M.B.A.) Organizations (CIS 446) The M.S. requires the completion of 42 FIN 448. Fixed-Income Securities credit-hours. There are five required courses Plus eight electives from the following: FIN 511. Advanced Financial Economics and eight courses which are chosen from FIN 534. Advanced Topics in Corporate available electives, plus the Communicating ACC 411. Financial Statement Analysis Finance Business Decisions course sequence. Students ACC 423. Financial Reporting I STR 440. Organizational Governance and ACC 424. Financial Reporting II Control

Master of Science in Business Administration With a Concentration in Finance For Those With a Prior M.B.A.

FALL Quarter WINTER Quarter SPRING QuarTER September–December January–March March–June

FIN 411 STR 403 ACC 410 Investment The Economic Theory Accounting for Management of Organizations and Control

FIN 413 Elective Elective Corporate Finance

FIN 402 or Elective Elective Elective Capital Budgeting and Corporate Objectives (this course can be waived by area coordinator) Elective (if taking FIN 402)

Elective Elective Elective

MGC 401 (Module I) MGC 402 (Module II) MGC 403 (Module III) Communicating Business Communicating Business Communicating Business Decisions Decisions Decisions

† Not offered in 2010–2011 * This course can be waived by area coordinator 25 Simon Graduate School of Business Information Guide 2010–2012

Program Requirements (for those without a FIN 411. Investments BPP 426. Macroeconomics prior M.B.A.) FIN 413. Corporate Finance CIS 418. Advanced Business Modeling and The M.S. requires the completion of 46 credit- GBA 461.** Core Economics for M.S. Analysis Using Spreadsheets hours. There are eight required core classes Students FIN 423. Corporate Financial Policy and plus the Communicating Business Decisions GBA 462.** Core Statistics for M.S. Students Control course sequence and six additional courses MGC 401–3 Communicating Business FIN 424. Options and Futures Markets which must be chosen from available electives. Decisions (Modules I, II and III) FIN 430. Financial Institutions Students who study on a full-time basis com- STR 403. The Economic Theory of FIN 433. Cases in Finance plete the program in 11 months, beginning in Organizations FIN 434. Investment Management and late July each year. A 3.0 grade point average is Trading Strategies required for graduation. Plus six electives from the following: FIN 442. International Economics and Finance Required courses: ACC 411. Financial Statement Analysis FIN 446.† Financial Information Systems ACC 423. Financial Reporting I (CIS 446) ACC 401. Corporate Financial Accounting ACC 424. Financial Reporting II FIN 448. Fixed-Income Securities ACC 410. Accounting for Management and ACC 431.† International Financial Statement FIN 511. Advanced Financial Economics Control Analysis FIN 534. Advanced Topics in Corporate FIN 402. Capital Budgeting and Corporate APS 425. Advanced Managerial Data Finance Objectives Analysis STR 440. Organizational Governance and Control

Master of Science in Business Administration With a Concentration in Finance For Those Without a Prior M.B.A.

SUMMER Quarter FALL Quarter WINTER QuarTER Spring quarter June–August September–December January–March March–June

GBA 461 FIN 411 STR 403 ACC 410 Core Economics for M.S. Investments The Economic Theory Accounting for Management and Students of Organizations Control

GBA 462 ACC 401* Elective Elective Core Statistics for M.S. Corporate Financial Accounting Students

FIN 402 FIN 413 Elective Elective Capital Budgeting and Corporate Finance Corporate Objectives

MGC 401 (Module I) Elective Elective Communicating Business Decisions

MGC 402 (Module II) MGC 403 (Module III) Communicating Business Communicating Business Decisions Decisions

*Three credit-hour lecture plus one credit-hour lab

† Not offered in 2010–2011 ** Available only to M.S. students concentrating in Marketing and in Finance

26 Simon Graduate School of Business Information Guide 2010–2012

MASTER OF SCIENCE IN BUSINESS in Business Administration—General Man GBA 411. Framing and Analyzing Business ADMINISTRATION—GENERAL agement on a full-time basis completes the Problems 1 MANAGEMENT program in eleven months. Part-time sched- GBA 412. Framing and Analyzing Business uling opportunities are also available. A 3.0 Problems 2 The program requires completion of 12 grade point average is required for graduation. MGC 401–3. Communicating Business classes plus the Communicating Business Decisions (Modules I, II and III) Decisions course sequence. Nine of these are The core curriculum includes: MKT 402. Marketing Management required core classes that cover the principles OMG 402. Operations Management of finance, accounting, marketing, operations, ACC 401. Corporate Financial Accounting STR 401. Managerial Economics information systems, managerial economics CIS 401. Information Systems for STR 403. The Economic Theory of and data-driven managerial decision making. Management Organizations The three remaining classes are electives that FIN 402. Capital Budgeting and Corporate students can choose according to their inter- Objectives est. A student pursuing the Master of Science

Master of Science in Business Administration With a Concentration in General Management

SUMMER Quarter FALL Quarter WINTER QuarTER Spring quarter June–August September–December January–March March–June

FIN 402 GBA 411* GBA 412 Elective** Capital Budgeting and Framing and Analyzing Business Framing and Analyzing Business Corporate Objectives Problems 1 Problems 2

Elective ACC 401* OMG 402 Elective** (BPP 432 Business Law) Corporate Financial Accounting Operations Management

MGC 401 (Module I) MKT 402 STR 403 CIS 401* Communicating Business Marketing Management The Economic Theory of Information Systems for Decisions —or— Organizations Management CIS 401* —or— Information Systems for MKT 402 Management Marketing Management

STR 401* Elective** Managerial Economics

Elective** MGC 403 (Module III) Communicating Business Decisions

MGC 402 (Module II) Communicating Business Decisions

*Three credit-hour lecture plus one credit-hour lab **Need 3 electives total and have the choice of when to take them

27 Simon Graduate School of Business Information Guide 2010–2012

MASTER OF SCIENCE IN BUSINESS OMG 412. Service Management OMG 412. Service Management ADMINISTRATION—INFORMATION OMG 413. International Manufacturing and OMG 413. International Manufacturing SYSTEMS MANAGEMENT Service Strategy and Service Strategy The Information Systems Management con- STR 403. The Economic Theory of OMG 415.* Process Improvement centration appeals to professionals committed Organizations OMG 416. Project Management to careers in information systems and who need management expertise. The program *The area coordinator may permit substitution of an emphasizes both management principles and MASTER OF SCIENCE IN advanced OMG or CIS course if the student has an understanding of the modern technical BUSINESS ADMINISTRATION— substantial work experience. aspects of information systems in an organi- MANUFACTURING MANAGEMENT or zation. SERVICE MANAGEMENT plus three electives from the list of electives The concentration is offered on a full- below. time and part-time basis and requires the These master’s degree programs provide completion of a minimum of 42 credit- management training for individuals who wish Manufacturing Management and Service hours, corresponding to 12 courses, plus the to remain in manufacturing or service man- Management Electives: Communicating Business Decisions course agement. The programs can help operations managers and industrial or manufacturing ACC 401. Corporate Financial Accounting sequence. There are eight required courses and CIS 415. Business Process Analysis and four courses to be chosen from nine possible engineers gain further expertise in operations management and stay current with the most Design (ECM 415) electives. Students who study on a full-time CIS 416.† Advanced Information basis complete the program in nine months recent developments in the field. They are designed for individuals involved in opera- Technology (ECM 416) beginning in the fall. A 3.0 grade point average CIS 440. Electronic Commerce Strategy is required for graduation. tions, in manufacturing or in service firms. More technical than the general M.B.A. (ECM 440) Students will be helped in developing a per- CIS 446.† Financial Information Systems sonal plan of study for this degree. degree, they may be earned by someone who already has an M.B.A. without an Operations (FIN 446) FIN 402. Capital Budgeting and Corporate Program Requirements Management concentration or by someone without an M.B.A. The programs require 12 Objectives Requirements for the M.S. concentration in OMG 411. Supply Chain Management Information Systems Management: courses plus the Communicating Business Decisions course sequence for 42 credit-hours OMG 412. Service Management STR 403. The Economic Theory of The core curriculum includes: of study with a 3.0 grade-point average, and are offered on a full- and part-time basis. Organizations CIS 401.* Information Systems for Students will be helped in developing a personal plan of study for this degree. Note: Full-time students considering the Management Manufacturing Management Program must GBA 411. Framing and Analyzing have a previous introductory course in Business Problems 1 Program Requirements operations management in order to be able to GBA 412. Framing and Analyzing complete the program in three quarters: Fall, Business Problems 2 Requirements for M.S. concentrations in Winter and Spring. MGC 401–3. Communicating Business Manufacturing Management and Service Decisions (Modules I, II and Management: III) OMG 402.* Operations Management The core curriculum includes: STR 401. Managerial Economics CIS 401.* Information Systems for *The area coordinator may permit substitution of an Management advanced OMG or CIS course if the student has GBA 411. Framing and Analyzing substantial work experience. Business Problems 1 GBA 412. Framing and Analyzing The Information Systems Management Business Problems 2 MGC 401–3. Communicating Business concentration requires in addition to the core: Decisions (Modules I, II and III) CIS 413. The Economics of Information OMG 402.* Operations Management Management STR 401. Managerial Economics CIS 415. Business Process Analysis and Design (ECM 415) The Manufacturing Management concentration requires in addition to the core: plus five electives from the list of electives which follows. OMG 411. Supply Chain Management OMG 413. International Manufacturing Electives and Service Strategy ACC 401. Corporate Financial Accounting OMG 415.* Process Improvement CIS 440. Electronic Commerce Strategy OMG 416.* Project Management (ECM 440) CIS 446.† Financial Information Systems plus three electives from the list of electives (FIN 446) below. FIN 402. Capital Budgeting and Corporate Objectives The Service Management concentration OMG 411. Supply Chain Management requires in addition to the core:

† Not offered in 2010–2011 28 Simon Graduate School of Business Information Guide 2010–2012

MASTER OF SCIENCE IN BUSINESS Decisions course sequence. The program con- GBA 462. Core Statistics for M.S. Students ADMINISTRATION—MARKETING cludes in early June. Study is also offered on (Foundations Course) a part-time basis. A 3.0 grade point average is MGC 401–3. Communicating Business Focused Graduate Training in Marketing required for graduation. Students take the fol- Decisions (Modules I, II and III) The Simon School one-year master’s program lowing courses to complete their degree. The MKT 402. Marketing Management in marketing was designed to equip students M.S. Marketing has a set curriculum with no MKT 412. Marketing Research with the skills and experience necessary to choice of electives available. MKT 414. Pricing Policies (STR 423) excel in marketing jobs in a compact, highly MKT 433. Advertising and Sales Promotion focused program. Students are likely to take a Required courses: MKT 436. Database Marketing (ECM 436) job related to one of the program’s three main emphases: advertising, marketing research, and ACC 401. Corporate Financial Accounting plus two of the following courses: sales. or GBA 450. Accounting, Economics and MKT 431. Consumer Behavior Program Requirements Finance for M.S. Students MKT 435. Distribution Channels and The full-time program begins with two five- (HSM 450) Salesforce Management week Foundations Courses that start in late GBA 412. Framing and Analyzing Business MKT 437. Marketing on the Internet July and finish in late August. Students take Problems 2 (ECM 437) nine more classes during the regular academic GBA 461. Core Economics for M.S. MKT 442. Special Topics in Marketing year, three each during Fall, Winter, and Spring Students (Foundations Course) quarters plus the Communicating Business

Master of Science in Business Administration With a Concentration in Marketing Course Sequence for Full-time M.S. Marketing Students

SUMMER Quarter FALL Quarter Spring QuarTER Spring quarter June–August September–December January–March March–June

GBA 461 MKT 402 MKT 412 MKT 436 Core Economics for Marketing Management Marketing Research Database Marketing M.S. Students

GBA 462 GBA 412 MKT 414 Elective Core Statistics for Framing and Analyzing Business Pricing Policies See below M.S. Students Problems 2

MGC 401 (Module I) ACC 401 MKT 433 Elective Communicating Business Corporate Financial Accounting Advertising and Sales See below Decisions —or— Promotion GBA 450 Accounting, Economics and Finance for M.S. Students

MGC 402 (Module II) MGC 403 (Module III) Communicating Business Communicating Business Decisions Decisions

Spring quarter electives: MKT 431. Consumer Behavior MKT 435. Distribution Channels and Salesforce Management MKT 437. Marketing on the Internet

29 Simon Graduate School of Business Information Guide 2010–2012

MASTER OF SCIENCE IN BUSINESS Logistics and Time Requirements • Quantifying strategy through business plan ADMINISTRATION—MEDICAL The medical management master’s is spe- development (using accounting, finance and MANAGEMENT cifically designed to accommodate the busy spreadsheet skills); schedules of physicians and medical profes- • Implementing strategy by efficiently manag- Management Tools sionals. The program consists of 30 credits ing operations; and The objective of the Simon School’s master and is offered on a part-time basis only. • Building efficient organizations for the long of science in business administration degree During a typical school quarter, the medi- run, through intelligent work design, perfor- with a concentration in Medical Management cal management student enrolls in one of the mance assessment and employee incentives. is to provide physicians and medical profes- Simon School M.B.A. core classes that meet sionals with management tools to enable them one night per week for ten weeks. During the The curriculum is presented in a unique for- to independently manage their health care same quarter, the student also takes a class on mat that delivers the necessary depth of core organizations. The Master’s degree teaches three separate weekends to cover the health business material while simultaneously apply- practical business skills to enable them to care component of the module. ing that material to the health care industry. formulate competitive strategy, develop This is accomplished through the pairing of quantifiable business plans and manage their Curriculum Simon School core courses with health care operations and employees toward their desired The curriculum is designed around four core management courses that develop applications goals. areas of management that are especially rel- of the core material. Each pair of courses evant to health care: (module) is delivered and taken simultane- • Development of business strategy and mar- ously. keting plans;

Master of Science in Business Administration With a Concentration in Medical Management

FALL QUARTER WINTER QUARTER SPRING QUARTER SUMMER QUARTER FALL QUARTER September–December January–March March–June June–August September–December

HSM 450 HSM 425 OMG 402 STR 403 HSM 455 Medical Management Managerial Accounting Operations The Economic Theory Practicum in Medical Economics, Accounting for Health Care Management of Organizations Management and Finance Primer Organizations

HSM 451 HSM 452 HSM 453 HSM 454 HSM 456 Health Care Marketing Health Care Accounting Health Care Operations Designing and Practicum in Medical and Business Plan and Finance Optimizing Health Management 2 Development Care Operations

30 Simon Graduate School of Business Information Guide 2010–2012

JOINT- AND SPECIALIZED-DEGREE PROGRAMS

The Simon School offers programs that To participate in this program, students for students with an engineering, science, or allow students to receive a first-rate business must apply to and be accepted by both the mathematics undergraduate degree, who wish education tailored to their specific needs. In School of Medicine and Dentistry and the to pursue a master’s level technical education addition to the Full- and Part-Time M.B.A. Simon School. Students are also required in combination with business and leadership Programs, a few other opportunities are to take both the M.C.A.T. and G.M.A.T. courses. T.E.A.M. could also be considered available to students who wish to pursue exams. The program takes five years to com a 4-1 program for University of Rochester coursework within a more specialized context plete—taken separately, the M.D. is four years undergraduate engineering students. of business management. These include the and the M.B.A. is two years. Students start the Students accepted into the T.E.A.M. Joint- and Specialized-Degree Programs and a program at the Simon School for the first- program may choose any technical cluster, 3-2 M.B.A. Program. year core courses, and then move to the M.D. such as optics, energy and the environment, The following is a list of the Joint- and program on a full-time basis, completing the computer science, biomedical engineering, Specialized-Degree Programs offered at the remaining Simon electives in their third and chemical engineering, electrical and computer Simon School. Each specific entry includes a fourth years of medical school. engineering, mechanical engineering or brief program description and contact details For application information, contact the materials science. Students will simultaneously for further information. Simon School or: be taking courses at the Simon School and the Hajim School. M.B.A./Master of Public Health John Hansen Requirements include: Associate Dean for Admissions The three-year M.B.A./M.P.H. program is a • Three core management courses in the University of Rochester cooperative approach offered by the Simon Simon School (one of which is a business School of Medicine and Dentistry School and the Department of Community plan development course) 601 Elmwood Avenue and Preventive Medicine in the University of • Three technical courses Box 601A Rochester’s School of Medicine and Dentistry. • One additional course: either a technical Rochester, N.Y. 14642-8603 Students will receive two degrees (M.B.A. class or a business elective (585) 275-4606 and Master of Public Health). Students • A capstone practicum take courses both at the Simon School and E-mail: john_hansen@urmc. within the Department of Community and rochester.edu To be considered for this program, students Preventive Medicine on the adjacent Medical or must take either the G.R.E. or G.M.A.T. exam. Center campus. The master of science degree will be con Students in the M.B.A./M.P.H. program Rebekah Lewin ferred by both the Hajim School and the may choose any concentration at the Simon Executive Director of Admissions and Simon School. School. Required courses include: Administration For application information, contact the Simon Graduate School of Business Simon School or: • All core courses in the full-time M.B.A. 305 Schlegel Hall program Rochester, N.Y. 14627-0107 Andrea Galati • Eight elective M.B.A. courses (585) 275-3533 Program Administrator • A core of required courses for the M.P.H. E-mail: [email protected] University of Rochester program Center for Entrepreneurship A 3.0 grade-point average is required for The 3-2 Program 1-211 Carol Simon Hall graduation. In this program, students earn both a bache- Box 270360 For application information, contact the lor’s degree in an undergraduate major from Rochester, N.Y. 14627-0360 Simon School or: the University of Rochester and a master of (585) 276-3500 business administration degree in five years. E-mail: [email protected] Pattie Kolomic In three years of undergraduate study at the Web site: www.rochester.edu/team Administrator University, students complete their majors and School of Medicine and Dentistry distribution requirements. Between January Six-month Cooperative (Co-Op) University of Rochester and March of their junior year, qualified stu- Experiences dents apply to the Simon School. The first 601 Elmwood Avenue The Cooperative Program will allow students Box 644 year of the M.B.A. program is substituted for the senior year. No merit-based scholarships to work a six-month paid internship super- Rochester, N.Y. 14642-8644 vised by a senior manager, which enhances (585) 275-7882 are available to 3-2 students. However, during the final year as an undergraduate, students the learning of students toward their career E-mail: pattie_kolomic@urmc. goals. This co-op, due to its duration, will rochester.edu maintain any undergraduate financial assistance that is offered by the College. Visit www. allow students to gain significant experience simon.rochester.edu/apply-now/index.aspx and ability to utilize classroom lessons in a M.D./M.B.A. Program for application details. work setting. All students must complete a Along with the Simon School, the School of proposal indicating the sponsor of the pro- Medicine and Dentistry offers a combined gram, the duties associated with the co-op and Technical Entrepreneurship And the benefits the student will receive toward M.D./M.B.A. degree program in Health Management (T.E.A.M.) M.S. Program Sciences Management. This program is his or her intended career path. The student designed to prepare physician managers who The one-year T.E.A.M. master’s degree must also submit a plan of study to the Senior can respond intelligently, effectively and cre- program is offered jointly by the Simon Associate Dean for Faculty and Research who atively to the changing health care services School and the Hajim School of Engineering will review the student’s academic standing industry. Only candidates with exceptional and Applied Sciences and is administered and will ensure that the student can graduate promise and academic records will be con by the University of Rochester Center for on time. Students must meet with the Career sidered. Entrepreneurship. This program is designed Management Center for further information and to determine eligibility.

31 Simon Graduate School of Business Information Guide 2010–2012

COURSES

All courses under the quarter system carry ACC 410. Accounting for ACC 418. Taxes and Business Strategy three hours of credit, unless otherwise indi- Management and Control The objectives of this course are to help cated. A few exceptions are MGC courses; By examining the tension between decision students develop the tools required to iden- MKT 501 (Workshop in Marketing); MSM making and control in organizations, the tify, understand and evaluate tax-planning 501 (Quantitative Methods Colloquium); the course examines a variety of questions such opportunities and to develop a framework one-credit-hour labs required for ACC 401 as: Why do managers allocate fixed costs, for understanding how taxes affect business (Corporate Financial Accounting), GBA 411 transfer goods between sub-units at full cost, decisions. Effective tax planning requires (Framing and Analyzing Business Problems and use other accounting policies that deviate the planner to consider the tax implications 1), CIS 401 (Information Systems for Man from marginal cost? What are activity-based of a proposed transaction for all of the par- agement), and STR 401 (Manager ial Econom costing, normal costing, and economic value ties to the transaction. Effective tax planning ics). Also, courses offered jointly with the added (EVA), and why are managers adopt- requires the planner, in making investment University of Rochester’s Department of ing these techniques? Topics include: analyz- and financing decisions, to consider not only Economics or Statistics and the School of ing traditional costing systems, divisional explicit taxes (tax dollars paid directly to tax- Medicine and Dentistry vary in credit hours. performance measurement, transfer pricing, ing authorities), but also implicit taxes (taxes Faculty whose biographies appear in the cost allocations, opportunity cost, budgeting paid indirectly in the form of lower before-tax Administration and Faculty sections teach and standard costing. The course provides rates of return on tax-favored investments). courses in the M.B.A. program on a regular students with a framework to understand Effective tax planning requires the planner to basis. The faculty described in this guide teach and productively use accounting systems. recognize that taxes represent only one among over 90 percent of all 400-level and 500-level Emphasis is placed on the problems of moti- many business costs. In the planning process, Simon School courses. vation and control in organizations and the all costs must be considered, including the In addition, one or two faculty members role of accounting information in this context. costly restructuring of the business necessary are visitors from other institutions. Carefully to implement some tax plans. The framework selected Simon School doctoral students teach Prerequisites: ACC 401 and STR 401; STR is operationalized by applying it to a variety a small number of graduate courses, typi- 403 (may be taken concurrently) of settings such as investments, compensa- cally summer offerings. Such students assume tion policy, organizational form, regulated all of the responsibilities of regular faculty ACC 411. Financial Statement Analysis industries, financial instruments, tax-sheltered instructors. Executives from corporations, as An objective of this course is to develop investments, multinational ventures, mergers well as local business owners, also serve as an students’ ability to use financial statement and acquisitions and tax arbitrage. additional faculty resource at the School for information (broadly defined) in various deci- selected master’s-level courses. sion-making settings. The uses of financial Prerequisites: ACC 401 and FIN 402 A course schedule showing offerings, times statement information include: 1) evaluation and instructors for each quarter is available of managerial performance; 2) analysts use ACC 419. Positive Accounting from the Registrar’s Office prior to the start financial statement information to perform Research of each quarter. prospective analysis, which serves as an input This course is designed for M.B.A. students into the valuation of a firm’s equity. Analysts concentrating in accounting and students in ■ Accounting make buy, sell, and hold recommendations the Master of Science in Accountancy pro- Charles E. Wasley, Area Coordinator based on analysis of financial information; 3) gram. The primary objective of the course is creditors and lenders use financial statement to introduce students to the role of financial Master’s-Level Courses information as input into lending decisions. accounting information in capital markets. Lenders use financial information to deter- This objective is accomplished by exposing ACC 401. Corporate Financial mine the type, amount and terms of a loan, students to academic accounting research Accounting and also the nature of any covenants, and on the relation between accounting numbers Credit—four hours 4) corporations and investment bankers use and stock prices, the debt contracting and financial statements to value companies that executive compensation contracting roles of Corporate financial accounting is concerned might be takeover targets. The primary objec- accounting numbers, incentives for manag- with the form and content of the information tive is to develop and sharpen students’ analyt- ers to manage reported earnings, incentives firms disclose to external parties (e.g., share- ical ability to analyze financial statements and for managers to voluntarily disclose financial holders). In the United States, financial report- draw inferences about a firm’s performance information, properties of analysts’ forecasts ing is based on generally accepted account- and future prospects. Cases and analysis of of accounting numbers, and issues related ing principles (GAAP) set by the Financial actual reporting practices are used to achieve to international financial reporting. Another Accounting Standards Board (FASB). GAAP the course objectives. objective of the course is to help students define the accounting methods and disclosure appreciate some of the current debates sur- practices that firms select from when provid- Prerequisites: ACC 401 and FIN 402 rounding the accounting profession and the ing financial statements to external parties. role of empirical research in addressing such This course covers these principles and other ACC 417. Auditing problems. important financial reporting practices. The Auditing principles and procedures are primary focus of the course is developing the examined. This course includes analysis skills required to interpret and analyze finan- of auditing and its relationship to financial ACC 423. Financial Reporting I cial information, rather than the skills required reporting, with emphasis on the independent This course acquaints students with the con- to prepare financial statements. Upon comple- accountant’s attest function and consideration ceptual and practical problems in measuring tion of the course, students will appreciate of ethical and legal responsibilities and regula- revenues and expenses, assets and liabilities. how financial accounting information is used tory influences. Statistical sampling, the role The principal objective is to make students in contracts between parties (e.g., lenders and of the internal auditor, and compilation and proficient in assessing the financial position the firm) and to evaluate a firm’s past perfor- review reports are discussed. of a company, its cash flow, liquidity, capi- mance and potential future performance. tal structure, hidden liabilities and reserves Prerequisite: ACC 401 through an understanding of generally accept-

32 Simon Graduate School of Business Information Guide 2010–2012 ed accounting principles (GAAP). The course to professional accounting decisions in finan- Ph.D. Courses provides a practical overview of the structure cial reporting, disclosure and other accounting of accounting and its relation to finance and decision making. In addition, a comparison ACC 501. Seminar in Accounting economics that should continue to be valuable of U.S. Generally Accepted Accounting (Offered each quarter, 1 credit. First-year as the accounting environment changes. Principles (U.S. GAAP) and International Ph.D. students are graded on a P/F basis. Financial Reporting Standards (IFRS) will be Prerequisites: ACC 401 and FIN 402 Second-year and later students receive a letter included. grade.) ACC 424. Financial Reporting II Prerequisites: ACC 401, ACC 423 and FIN A forum for the presentation, discussion and This course addresses the accounting for 402 critique of current accounting research papers mergers and acquisitions, foreign operations where accounting faculty, Ph.D. students and and derivative financial instruments. Emphasis ACC 437. Basic Federal Income Tax outside speakers present working papers on is placed on developing an appreciation of Accounting current research topics. Students are expected the forces shaping accounting, including the This course will introduce the federal tax to actively participate in the discussion and effects of organizational arrangements, infor- system in the United States and will focus critique of the papers presented. In weeks mation and taxes. The interdependency of the on specifics of federal tax code. It will pro- when accounting workshops/seminars accounting methods, organizational structure vide an overview of individual, partnership, are scheduled, accounting Ph.D. students and tax decisions are investigated. corporate, gift and estate taxes. Detailed top- will meet as a group with a member of the accounting faculty before the seminar Prerequisites: ACC 401 and FIN 402 ics will include, but are not limited to, gross income, deductions for adjusted gross income, to discuss the paper. Since such meetings deductions from adjusted gross income, tax- are designed to facilitate students’ active ACC 431. International Financial able income, alternative minimum tax, certain participation in the seminars, students are Statement Analysis tax credits, recognition of gains and losses, required to circulate a brief set of comments The objective of this course is to prepare stu- transactions between partners, Subchapter to the other class participants in advance of dents for the analysis of financial statements S Corporations, gift tax and estate tax. Skills the meeting. Grading will be based on the in an international context. Cross-border will be developed to research the tax code and quality of students’ contributions to the pre- transacting is an increasingly important com- I.R.S. rulings to solve tax issues. seminar meetings as well as their contributions ponent of business. Consequently, corporate and participation in the actual workshops. An financial statements are used in increasingly Prerequisite: ACC 401 additional requirement for first-year students international settings by shareholders, lenders, is that each must replicate and update an creditors, managers, employees, suppliers, cus- ACC 438. Auditing II—Auditing and existing paper and present the results in the tomers and governments. Because the course Information Systems Winter or Spring Quarter in ACC 501 or AEC aims to develop skills in international financial This course will focus largely on Sarbanes- 501. The paper to be replicated and updated, analysis, it adopts a case format. The course Oxley compliance and internal control sys- as well as the completed project, must be addresses the economic and political determi- tems. Internal control systems will be covered approved by two accounting faculty members. nants of: 1) similarities in accounting practices in depth, with focus on internal controls in among countries; 2) differences in account- an information technology (IT) environment. ACC 510. Accounting Research I ing practices among countries; 3) similarities The IT environment will be discussed from (Offered Fall Quarter, 3 credits.) and differences in the properties of reported the perspectives of designing effective internal accounting numbers among countries; and 4) controls and auditing in an IT environment. The natural starting point for the study of the strong trend toward reducing differences The function of the internal audit department capital markets research in accounting begins in accounting practices among countries. will be covered, as well as how external audi- with the relationship between accounting tors can work with internal auditors. earnings and security returns. This course Prerequisites: ACC 401 and FIN 402 covers the evolution of research on the Prerequisites: ACC 401 and ACC 417 earnings/return relation from the seminal ACC 433. Advanced Business Law and papers up through current research. Topics covered include the fundamental features Ethics ACC 445. Managerial Accounting for (Same as BPP 433) of the contemporaneous earnings/return Health Care Organizations relation, the nature of association-type A continuation of BPP 432, which is a pre- (Same as HSM 425) and event study-type investigations of the requisite) Costs for health services continue to rise contemporaneous earnings/return relation, Topics include: bankruptcy, real property, faster than overall economic growth, draw- theoretical and empirical evidence on the personal property, sales, secured transactions, ing ever greater attention from employers, lead/lag relation between security returns and negotiable instruments, insurance, trusts and governments and consumers. The front line accounting earnings, the asymmetric timeliness estates and consumer protection This course of the cost battle is within the health services of accounting earnings, theoretical and also includes discussions of ethics and profes- entities, where decision making depends on empirical research on the role of conservatism sional responsibilities. accurate reporting of internal costs. This cost in accounting earnings, pro-forma earnings will allow the student to understand how costs and international research on the character ACC 436. Research Into Professional are reported and how to use this information istics and properties of the earnings/return Accounting Standards to make decisions within the health services relation. The course also covers capital market research on analysts’ earnings forecasts This course will cover the conceptual frame- entity. The following topics will be examined within a health services setting: cost allocation, including the properties of such forecasts work for standard setting established by (e.g., optimism, pessimism, rationality) and the the Financial Accounting Standards Board cost-volume-pricing analysis, budgeting and variance analysis, and activity-based costing. relation between analyst earnings forecasts and (F.A.S.B.). It will also review how to research stock prices. financial accounting and reporting issues using the F.A.S.B. Accounting Standards Codification. The research of financial accounting and reporting issues will be applied

33 Simon Graduate School of Business Information Guide 2010–2012

ACC 511. Accounting Research II consequences of fraudulent financial reporting ined include responses to price and income (Offered Winter Quarter, 3 credits.) and the effects of accounting restatements. changes, intertemporal planning (e.g., saving), household production, labor supply, invest- This course turns the focus from aggregate Prerequisites: ACC 510 and ACC 511 ment in human capital, search, and reactions accounting earnings (which is studied in to uncertainty about future assets and goods ACC 510), to the components of earnings; ■ Applied Economics prices. For firms, the implications of value- accruals and cash flow. Given the central role John B. Long Jr., Area Coordinator maximization for input demands and output of accruals in the measurement of accounting supplies are explored thoroughly. Managerial earnings, the initial focus of the course is on Ph.D. Courses choices related to multiple products, intertem- the fundamental properties of accruals and poral production planning and uncertainty the importance of accruals to accounting AEC 501. Applied Economics are explicitly modeled. Some extensions to earnings central role as a summary measure Seminar I monopoly behavior are considered. Finally, of firm performance. The course also covers The seminar is a forum for recent and current some implications of consumer and competi- the relation between cash flow and accruals tive firm behavior for industry (single market) and the market pricing of accruals and research. Ph.D. students, faculty and outside speakers present papers on their current and general equilibrium are examined. These the components of accruals. The study of include (for industry equilibrium) the tech- accruals naturally leads to research on earnings research and/or discuss recent work by others in the field. nological determinants of industry responses management that focuses on how and why (entry-exit, quantity changes, price changes) earnings are managed. Research on how to economic shocks such as shifts in demand earnings are managed focuses on managers’ AEC 502. Applied Economics for the industry’s product. For general equi- opportunistic manipulation of accounting Seminar II librium, the first and second welfare theorems accruals and/or via altering real activities A continuation of AEC 501. will be covered. while research on the managerial incentives to manage reported earnings focuses on (among AEC 503. Organizational and AEC 512. Advanced Price Theory II other topics) the literature on meeting or Competitive Strategy Seminar This course teaches the tools of game theory beating earnings expectations and earnings (Same as STR 501) and contract theory, and applies them to top- thresholds. The course also covers the topic A continuation of AEC 501 and AEC 502. ics in industrial organization, organizational of voluntary disclosure. In particular, the economics and other areas. Game theory is incentives managers have to voluntarily AEC 504. Fundamentals of Economics the study of strategic interaction among a disclose earnings and/or cash flow forecasts small number of decision-makers. It is nowa- and the properties and stock price effects of This is a course meant for entering doctoral days applied in almost any area of econom- such forecasts. Other voluntary disclosure students with insufficient background in ics, as well as in related disciplines such as literature studied includes the effect of economics. Topics covered include markets finance, accounting, marketing and operations voluntary disclosure on the cost of capital and and prices, consumer behavior, individual and research. Contract theory is concerned with the effect of the legal environment on firms’ market demand, choice under uncertainty, the optimal design of contracts (and at a larg- voluntary disclosure practices. production, competitive markets, monopoly er scale, organizations) that define the “rules and monopsony, competitive strategy, markets of the game” under which agents (such as a Prerequisite: ACC 510 with asymmetric information, externalities and firm’s employees) interact. In this sense, it can public goods. Offered in the summer, primar- be thought of as an extension of game theory. ACC 512. Advanced Topics in ily for entering doctoral students. Accounting Research Contract theory is the methodological basis of much of modern organizational econom- (Offered Spring Quarter and alternates with AEC 505. Mathematical Techniques in ics, but its methods are applied in many other ACC 513, 3 credits.) Economics contexts, too, notably finance. The course is This course covers advanced topics in The course introduces mathematical tools organized by concepts and methods, but most accounting research including the role of especially useful in economics, econometrics time will be spent on applying them to a large accounting numbers in debt contracts and and finance. Topics include a basic topology variety of topics. While this is a theory course, lending agreements, the role of accounting of the real line, sequences and series, limits, the instructor will also occasionally refer to numbers in executive compensation contracts continuity, differential and integral calculus. relevant empirical work. and corporate governance, the economic Offered in the summer, primarily for entering consequences of accounting regulation, the doctoral students. AEC 513. Advanced Price Theory III use of accounting-based measures of the This course provides an introduction to the cost of capital and empirical tax research in AEC 510. Ph.D. Workshop in Applied theory and practice of industrial organiza- accounting. Economics tion. Broad areas of application include static Prerequisites: ACC 510 and ACC 511 The workshop provides a forum for the pre- oligopoly models, two-stage games and games sentation of ongoing and completed research with infinite horizons. Concepts from game ACC 513: Contemporary Topics in projects by Ph.D. students in the economics theory such as Nash equilibria, subgame per- Accounting Research core. Third- and fourth-year Ph.D. students fect equilibria, and perfect Bayesian equilibria are expected to participate actively. will be used as needed. Special topics may (Offered Spring Quarter and alternates with include: contracts, patents, licensing, bundling, ACC 512, 3 credits.) Prerequisite: permission of the instructor tying, buyer-seller networks, switching costs, This course covers topics including value price discrimination, mergers and entry bar- relevance, accounting-based valuation models, AEC 511. Advanced Price Theory I riers. Students will read and critique journal earnings quality, the impact of earnings The first of a three-course sequence provid- articles, and areas for future research will be and accrual quality on firm valuation, the ing a survey of the substance and methods highlighted. impact of real activity management on of contemporary price theory for students firm performance, market efficiency with preparing to do research. Generally, the AEC 516. Analysis of Economic Policy respect to accounting numbers, the economic first course covers the economic behavior (Offered at the discretion of the instructor) of individuals and firms in a competitive market setting. Individual behaviors exam-

34 Simon Graduate School of Business Information Guide 2010–2012

AEC 521. Advanced Topics in the Ph.D. Courses APS 524. Topics in Macroeconometrics Organization of Industry (Same as College course ECO 518) The course concentrates on unsettled areas in APS 511. Introduction to Mathematical Credit—five hours industrial organization, exposing students to Statistics The course focuses on the econometric tech- potential thesis and research projects. Specific A more theoretical treatment of the subject niques and problems associated with particular topics vary from year to year. Typical current matter of APS 411, offered in the summer, fields in economics, such as the econometrics topics are theory of conglomerate mergers, primarily for entering doctoral students. of labor economics and the econometric analysis of advertising and scale as barriers to issues in macroeconomics or finance. entry, quality competition and market responses to costly information. APS 514. Introduction to Econometrics Prerequisite: APS 523 or permission of the (Same as College course ECO 484) instructor AEC 523. Advanced Empirical Credit—two hours Industrial Organization The course is for students intending to do APS 528. Sampling Techniques Empirical Industrial Organization (IO) meth- research in quantitative areas. Topics include: (Same as Medical School course BST 421; ods have become an integral element of the estimation and hypothesis testing in the stan- APS 528 is offered in alternate years) applied econometricians’ tool kit across many dard linear model, weighted least squares, Credit—four hours transformations, constraints, analysis of vari- areas. Applications of these methods are not The course is for students with a primary limited to IO but are seen in diverse areas ance and covariance and problems of model specification. interest in applied statistics or research in such as political science, labor economics, cor- quantitative areas. Topics include: design and porate finance and marketing. These methods Prerequisites: AEC 505 or equivalent and APS analysis of simple random, stratified, cluster stress combining strong IO theory with cut- 511 or equivalent and systematic sampling; multistage and mul- ting edge econometrics to answer substantive tiphase sampling; and nonresponse and mea- questions. In addition to introducing students surement errors. to new methods and topics, this course also APS 515. Elements of Econometrics aims to cultivate a strong research focus in our (Same as College course ECO 485) Prerequisites: GBA 411, GBA 412 and students. It encourages students to read and Credit—four hours differential calculus critically evaluate challenging papers and dis- The study of the specification of econometric cuss approaches to improving them. As such, models in which economic theory, stochastic APS 529. Applied Multivariate Analysis this course is in the best tradition of Simon’s disturbances and the link between conceptual (Same as Medical School course BST 441; research approach. variables and observable economic data are APS 529 is offered in alternate years) combined. Topics include: estimation of sin- Credit—two hours AEC 525. Mathematical Economics I gle-equation linear and nonlinear econometric This course examines the theory and applica- (Same as ECO 481) models by least squares and other methods, tions of multivariate methods often used in (Offered at the discretion of the instructor) and estimation of time-series models and economics, marketing and finance. Topics Credit—four hours simultaneous-equation models. Particular include: multivariate normal distributions, attention is given to specification problems sampling distributions, tests of hypoth eses, This course covers the use of optimization such as heteroskedasticity, multicollinearity, multivariate analysis of variance, canonical theory in economic analysis. The topics cov- qualitative dependent variables and specifica- correlation, principal components and factor ered include finite-dimensional optimization tion error. analysis. (unconstrained optimization, Lagrange’s Theorem, the Kuhn-Tucker Theorem), the Prerequisite: APS 514 Prerequisite: APS 514 role of convexity in optimization, parametric continuity of solutions to optimization prob- APS 519. Topics in Microeconometrics APS 531. Applied Econometrics lems, and finite- and infinite-horizon dynamic The course content varies from year to year. The course aims to provide Ph.D. students programming. Panel data, cross-section time series, qualita- with a broad set of applied econometric Prerequisite: AEC 505 tive dependent variables and duration analysis skills. The contents of the course have been are possible topics discussed. designed as to provide the broadest group of students fairly in-depth exposure to key topics ■ Applied Statistics Prerequisite: ECO 517 or permission of the in Panel Data methods that would be useful in Rajiv M. Dewan, Area Coordinator instructor their research endeavor. These methods have applications in accounting, corporate finance, Master’s-Level Courses APS 523. Advanced Econometrics marketing, and more recently in operations management and information systems. (Same as College course ECO 517) APS 425. Advanced Managerial Data The course will be broken up into four Credit—five hours Analysis modules. The first module is a refresher to The objective of this course is to provide a The course covers advanced topics in econ topics already covered in the introductory systematic way to organize and make use of ometrics, including maximum likelihood meth- sequence of econometrics courses. The focus, quantitative information in business decision- ods and methods of moment estimation. Also however, would be for students to grasp the making. The course builds on what students discussed are asymptotic theory, and semipara- idea behind the methods in a more applied have learned in introductory statistics, extend- metric and nonparametric estimation. setting. The second module introduces stu- ing that knowledge to include the situations dents to Panel Data and the issues involved Prerequisite: APS 515 frequently encountered in decision-making. with the estimation of models based on such data. The third module forms the core of Prerequisites: GBA 411 and GBA 412 the course and focuses on simulation-based econometric methods. In this module, the models discuss both reduced form and structural models applied to cross sectional as well as Panel Data. The course concludes with a quick introduction to Bayesian ideas and methods. 35 Simon Graduate School of Business Information Guide 2010–2012

■ BUSINESS ing, staffing, governing, and operating new BPP 442. International Economics and COMMUNICATIONS ventures. The course’s principal focus is on Finance how to create and retain competitive advan- (Same as FIN 442) Daniel H. Struble, Area Coordinator tage through the skillful ordering of legal affairs. Emphasis will be transactional and Topics include: theories of international trade; MGC 401. Communicating Business include analysis of such issues as the cre- exchange-rate regimes; the determination of Decisions (Module 1) ation and protection of intellectual property, exchange rates in a world of flexible exchange MGC 402. Communicating Business technology licensing, global expansion, and rates; the Euromarkets; the pricing of assets in Decisions (Module II) internet commerce. The course will include, open economies; international financial man- as a context for applied learning, a term proj- agement and the theory of multinational cor- MGC 403. Communicating Business ect involving the creation and evolution of a porations; foreign exchange exposure; analysis Decisions (Module III) selected new venture opportunity. of currency forward, future, option and swap contracts; capital budgeting for foreign proj- Strong communication skills are essential for BPP 432. Basic Business Law ects; and financing international trade. future leaders. The goal at Simon is to estab- (Same as ENT 432) lish principles and standards for written and Prerequisite: FIN 402 oral communication that will apply not only This course surveys the law of contracts, Recommended: FIN 411 to Simon coursework but throughout the agency, and business associations – with the student’s business career. Students are encour- objective of developing familiarity with select- ■ Competitive and aged to think strategically about business ed laws, regulations, legal principles, and legal communication, and the emphasis on applied processes that govern (a) efficient exchange, Organizational Strategy communication integrates effective writing generally; and (b) how and in what ways man- James A. Brickley, Area Coordinator and presentation skills with practical, hands- agers and entrepreneurs organize and interact on projects. to facilitate exchange. Although emphasis will Master’s-Level Courses Because the job search incorporates many be on United States law, there will be selected key communication skills, the first module of reference throughout the course to issues STR 401. Managerial Economics instruction focuses on cover letters, résumés, related to international transactions and to Credit—four hours interviewing, networking and e-mail protocol. pertinent differences in legal systems of coun- In the second module, business problems tries outside the United States. The course This core course applies the fundamental assigned in other core courses are structured has a distinct transactional focus, with heavy tools of price theory—consumer and firm to take various forms, such as a 10-minute reliance upon contemporary cases, commercial behavior, demand and supply, the allocation presentation to the board of directors or a practices, and issues. Particular attention will of resources, competition and monopoly—to one-page exective memo, which are then eval- be given to the impact of the legal framework management decision making. Interaction of uated by the faculty to reinforce the impor- upon sound managerial decision-making, busi- the firm with its customers, competitors and tance of the “Communicate” (Ct.) element of ness risk management, commercial rights and markets is discussed. the School’s new F.A.Ct. initiative. The final responsibilities, and ultimately business valu- module concludes with a school-wide case ation. STR 403. The Economic Theory of competition that takes place at the end of the Organizations first year. BPP 433. Advanced Business Law and The course combines basic economic con- Ethics cepts introduced in STR 401 with agency ■ Business Environment (Same as ACC 433) theory and the concept of specific knowledge and Public Policy to develop a framework for addressing and A continuation of BPP 432, which is a pre- solving important organizational problems. Ronald W. Hansen, Area Coordinator requisite) Key elements include: the assignment of decision rights, the performance-evaluation system Master’s-Level Courses Topics include: bankruptcy, real property, personal property, sales, secured transactions, and the compensation/incentive system. Each negotiable instruments, insurance, trusts and of these elements is analyzed in detail. The BPP 426. Macroeconomics estates and consumer protection This course framework is applied to analyze a variety of Macroeconomics is the study of how econ also includes discussions of ethics and profes- contemporary managerial topics such as total omies grow and fluctuate over time and how sional responsibilities. quality management, business-process reengi- they interact with one another. In this course, neering, outsourcing, transfer pricing, leader- we discuss economic measurement, economic ship and business ethics. growth and the business cycle. We also discuss BPP 440. Evolving Medical Markets the implication of modern theories of growth (Same as HSM 440) Prerequisite: STR 401 and fluctuation for the conduct of monetary Firms supplying products and services to the STR 421. Economics of Competitive policy and fiscal policy. There is a strong health care industry face a variety of regula- emphasis on the international linkage among tory and marketing challenges that will be Strategy economies and the implications of macroeco- explored in this course. Topics include: the Competitive strategy deals with the most sig- nomics for the business environment. economics of developing and marketing new nificant decisions that companies make in the Prerequisite: STR 401 medical technologies, regulations affecting marketplace, including entry into a market, market structure, health and safety regulations product positioning, pricing, investments, and insurance markets. The course will cover technology choice and acquisitions. This BPP 431. Legal and Tax Considerations course provides tools and concepts for analyz- of New Ventures evaluation tools frequently used in public policy debates and in marketing medical tech- ing these decisions and for designing business (Same as ENT 431) nologies including cost-benefit and cost-effec- strategies that help firms make above-nor- (Offered at the discretion of the instructor) tiveness analysis and quality of life indices. mal profits in the long run. Throughout the This course surveys, from the entrepreneur’s course, there is an emphasis on how firms perspective, legal and tax considerations that interact with existing or potential competitors impact strategic choices in organizing, fund- and other parties in the market. The tools and concepts used to understand this interaction are partly those of the traditional field of 36 Simon Graduate School of Business Information Guide 2010–2012

Strategic Management, but more importantly ates and to arrive at an appropriate pricing STR 430. Health Sciences Management those of modern microeconomics, especially policy for the product or service. There are and Strategy the field of Industrial Organization. several components: cost definition and mea- (Same as HSM 430) The first half of the course looks at the surement; measurement of price sensitivity “big picture” and covers industry analysis, and the implied market segmentation; strategic This course applies the principles of organi- value creation and competitive advantage, and analyses vis-à-vis competitors and distributors; zational economics and strategy to the insti- integration and diversification decisions. The and the legal aspects of pricing. The course tutional setting of health sciences. The course second half of the course focuses on strategic builds on STR 401, MKT 402 and APS 411, focuses on the interdependence between the interaction among firms, and covers specific but goes further in discussing specific pricing delivery, financing, and technology sectors of topics such as the dynamics of price competi- policies used by firms. Topics include: quantity the health care marketplace. It discusses how tion in oligopolies, commitment strategies of discounts, bundling and tie-in sales, product- management and strategy choices within each firms, entry and exit, networks and standards, line pricing, pricing via distribution channels, sector are responses to the unique institutional and technological competition. cooperative versus opportunistic pricing and factors in the health care marketplace and The course is largely case-based. About one competitive bidding. how the strategies of each sector affect the third of all classes are lectures; the other two behavior of the others. Students will leave the thirds are case discussions. Prerequisites: STR 401 and MKT 402 course with an ability to think productively For students who plan to take both STR about management and strategy challenges 421 and STR 422, the instructors of both STR 424. Managing Human Resources within each of the three health science sectors. courses recommend taking STR 422 first. This course analyzes human resource manage- Each course can be taken independently of Prerequisite: STR 401 ment within the framework of economic theo- Recommended: STR 403, STR 421 the other, but students planning to take both ry. It focuses primarily on the implementation courses will benefit from learning the tools of of compensation and incentive structures game theory in STR 422 before applying them in organizations. Topics include: selection STR 431. Practicum on Competitive to competitive strategy decisions in STR 421. and hiring of employees, measurement and Strategy Students planning to take only STR 421, on appraisal of employee performance, promo- (Offered at the discretion of the instructor) the other hand, may want to consider taking tion-based incentive systems, managing work- the course in their first year because of its force diversity, employee relations, and the This course provides students with hands-on broad scope. coordination of human resource policies and experience in running a consulting project. business strategy. It develops skills in formulating a problem, Prerequisite: STR 401 working with data, finding possible solutions Prerequisite: STR 401 and delivering recommendations, all within STR 422. Strategic Decision Making: Recommended: STR 403 a fixed time frame. Students will learn to Theory and Practice produce analysis, but also have to argue per- This course develops game-theoretic tools that STR 425. Organization of Industry and suasively that the recommendations based on can be used to provide both quantitative and Markets the analysis are valuable and should be imple- qualitative prescriptions for profit-maximizing (Offered at the discretion of the instructor) mented. behavior in a variety of strategic settings. The The projects in this course have a broader basic concepts are introduced through applica- This course analyzes the structure of indus- orientation than the functional area projects, tions to strategic settings that one encounters tries and markets and considers how firms act and are geared toward the integration of dif- in typical business situations. However, the strategically to influence the evolution of the ferent topics as well as toward more strategic game-theoretic concepts themselves are quite environment in which they operate. It also thinking. Teams of four to five students will general, as the goal of the course is provide examines the impact of government regula- be responsible for the individual projects, and students with both an understanding of these tions and the types of strategies that firms use will meet with the instructor individually every concepts and a tool kit with which to evaluate to influence their regulatory environment. The week. The organizations submitting projects a broad range of strategic problems. material of STR 401 and 403 is extended to must be willing to spend time with students The set of strategic problems specifically include the interaction among firms and the and to provide appropriate data. impact of government policies on the firm. discussed includes the pricing of new and Prerequisite: completion of core courses existing goods in the presence of substitutes Prerequisite: STR 401 and complements, determining advertising STR 440. Organizational Governance and R&D expenditures, analyzing market STR 426. Property Rights and the Law and Control entry, exit, and entry deterrence opportunities, (Offered at the discretion of the instructor) and evaluating bargaining and auction envi- New organizations have to choose their initial ronments. Extensive use is made of examples This course examines how property right organizational design and associated control from both private- and public-sector analyses assignments affect individual behavior and the mechanisms. Organizations also frequently of strategic interactions among firms. use of resources. The analysis provides useful restructure. For example, entrepreneurial firms For students who anticipate taking both managerial insights into how the legal system become publicly traded, partnerships convert STR 421 and STR 422, the instructors of both affects private contracting, economic activity to corporations, closed-end funds become courses recommend taking STR 422 first. and the structure of organizations. open-end mutual funds, nonprofits convert Each course can be taken independent ly of to for-profit status, mutual insurance compa- the other, but students planning to take both Prerequisite: STR 401 nies convert to publicly traded corporations, courses will benefit from learning the tools of franchise companies buy back units, and so game theory in STR 422 before applying them STR 427. Organizational Behavior on. Organizations also frequently change their to competitive strategy decisions in STR 421. The course analyzes behavioral approaches to basic control mechanisms such as their voting organizations, stressing implications for mana- rules and board structure. Management suc- Prerequisite: STR 401 gerial practice. Topics include: organization cession is an important consideration in most and job design, group dynamics, motivation firms. STR 423. Pricing Policies and leadership. These organizational choices affect value (Same as MKT 414) and the associated prices of the stocks and bonds issued by organizations. For example, a This course prepares future managers to ana- 1999–2000 survey by McKinsey & Company lyze the environment in which their firm oper-

37 Simon Graduate School of Business Information Guide 2010–2012 of leading institutional investors indicates that STR 510. Research in Organizational outsourcing and EDI issues; and the effects over three quarters of these investors consider and Competitive Strategy of queuing and its associated externality. governance practices at least as important as This course provides a forum for discussing Several business cases are used to illustrate the financial performance when evaluating com- theoretical and empirical research on organiza- issues. panies for investment. Institutional investors tional and competitive strategy, and it contains Prerequisites: CIS 401 and STR 401 (such as TIAA-CREF) have dedicated staffs the core material for preparing for a minor to analyze and promote effective governance. exam in STR. The course covers topics similar Senior and financial managers, consultants and CIS 415. Business Process Analysis and to those in STR 403. However, students study Design investment bankers involved in issuing securi- more advanced papers and analyze the mate- ties, making or defending (for example, in a rial with more depth and rigor. Depending on (Same as ECM 415) court of law) organizational decisions, and the backgrounds and interests of the students, This course studies the analysis, design and interacting with institutional investors benefit likely topics include: why firms exist; why automation of business processes. The course from knowing the relevant trade-offs and organizations take the form that they do; the teaches system-modeling tools appropriate related empirical literature. motivations for change within organizations; for the analysis and design of business pro- This course builds on STR 403 (The Eco incentive problems and contracting; the fac- cesses and information systems. These tools nomic Theory of Organizations) to provide tors that determine the allocation of decision are applied to electronic commerce ventures, a more in-depth analysis of organizational rights within an organization; how agency the design of various service processes, logis- choice and governance mechanisms. Topics problems are mitigated by the market for cor tics and R&D activities. Key features of the include: the choice of organizational form; porate control; the managerial labor market; course are: object-oriented systems analysis corporate charter (voting rules, anti-takeover compensation plans; the ownership structure techniques, the study of cutting edge research provisions, and so on); proxy process; board of residual claims and the court system; and results on work organization and design, and of directors; ownership structure; banks and why “hybrid” organizations such as franchises an introduction to the Visual Basic program- other financial institutions as organizational and joint ventures exist. ming language for rapid prototyping of new monitors; CEO selection, retention and suc- information systems. The course includes cession; and governance in entrepreneurial Prerequisite: STR 403 or permission of the a comprehensive team-based field project firms. The class presents the important issues instructor involving a real business process. This project relating to these topics and examines the rel- requires the application of the concepts and evant empirical research. Emphasis is placed ■ Computers and techniques taught in the course. on how optimal practices can vary across industry, strategy and country and on how Information Systems Prerequisite: CIS 401 they might evolve through time. The course Abraham Seidmann, Area Coordinator complements FIN 411 (Investments) and FIN CIS 416. Advanced Information 423 (Corporate Financial Policy and Control) Master’s-Level Courses Technology in helping students understand how corporate (Same as ECM 416) policies affect security prices and value. CIS 401. Information Systems for Management Information has become increasingly Prerequisites: STR 401 and STR 403 Credit—four hours important to the modern corporation for conducting operations, improving efficiency and STR 441. Executive Strategy Seminar This course focuses on the theoretical founda- maintaining competitiveness in rapidly chang- (Offered at the discretion of the instructor) tions underlying management information sys- ing markets. Effective use of information tems and their vital role in the modern busi- In this course, students apply skills acquired technology (IT) involves knowledge of the ness environment. Topics include: information existing capacities, awareness of how informa- in earlier courses to a variety of case-like stra- economics; innovative models of e-business tegic settings. It thus contributes to the transition technology is changing and imaginative and the impact of the Web on organizational use of the technology to enhance business tion from student to manager. An experienced transformation; the nature and operation of member of the business community staffs the performance. large-scale-enterprise information systems; The course contains a broad coverage of course and provides the necessary integration database and knowledge management systems; with the rest of the curriculum. trends in IT development (e.g., hardware, soft- data communications; electronic commerce; ware, systems architecture, networks, security, Prerequisite: completion of core courses business process reengineering; and informa- etc.), and how these components can be used tion-systems analysis, design and control. for new business applications. The emphasis STR 442. Special Topics in Strategy The strategic and economic impacts of com- is not on the technology, but rather on mana- petitive information systems are emphasized. (Not offered every year) gerially evaluating its usefulness for solving Assignments and cases introduce students to business problems. Special topics are generally those which are modern quantitative business modeling con- Topics to be covered include: client-server not well covered in the other courses, such as cepts and analysis, and to sophisticated busi- architecture, data warehousing, data mining, advanced pricing techniques, or they may deal ness applications of the Web and databases. decision support, enterprise resource plan- with strategy in selected industries (e.g., finan- ning, knowledge-based systems/artificial intel- cial services, high-tech marketing, etc.). The CIS 413. The Economics of Information ligence, networks and security, object-oriented specific content of the course varies, depend- Management and Web-based programming languages, and ing on faculty interests. technology for project managers. All students This course covers economic approaches to are required to complete a group project on Prerequisite: permission of the instructor the management of information systems (IS). the business implications of these technolo- Topics include: the value of information in an gies. They have to look at these technologies Ph.D. Courses organizational setting; cost trends in hardware from the perspective of a business consultant and software; the nature and implications who needs to understand how to match the STR 501. Organizational and of information asymmetries and objective right technology with his or her customers’ conflicts in the IS setting, such as introducing Competitive Strategy Seminar business problems. (Same as AEC 503) new technology in an organization, the use of pricing and other control mechanisms such as Prerequisite: CIS 401 A continuation of AEC 501 and AEC 502 budgets and corporate standards to manage IS resources; analysis of peak-load problems;

38 Simon Graduate School of Business Information Guide 2010–2012

CIS 418. Advanced Business Modeling consulting firms, but is also relevant for stu- straints, object-oriented approaches and appli- and Analysis Using Spreadsheets dents considering a career as an independent cations of artificial intelligence to database The course expands and develops students’ consultant, or within a corporation's internal management systems. consulting group. The course focuses on three analytical tool kit through “hands on” training Prerequisite: CIS 415 or permission of the in the effective use of spreadsheet-based tools areas: The Consulting Industry: instructor for advanced managerial analysis. Students • Students will examine several types of consulting (e.g., strategic, perform quantitative analysis of advanced ■ Electronic Commerce problems in options pricing, investments, cor- operations, systems, human resource and porate finance, marketing and operations. The marketing) and understand where the major Abraham Seidmann, Area Coordinator course enhances and reinforces the analytical consulting firms position themselves. The skills developed in earlier M.B.A. classes such career paths for M.B.A.’s entering the indus- Master’s-Level Courses as formulating and solving large-scale busi- try, and the skills and values necessary for ness problems using quantitative models, risk success as a consultant will be scrutinized. ECM 415. Business Process Analysis The Business Systems Consulting Process: simulation and sensitivity analysis. Spreadsheet • The and Design creation of proposals, the winning of con- tools introduced in this class include Visual (Same as CIS 415) Basic for Applications (V.B.A.) and stochastic sulting engagements, and the preparation This course studies the analysis, design and optimization using Optquest. Students who of contracts will be discussed. The typical automation of business processes. The course successfully complete the course should pos- stages of a business systems consulting teaches system-modeling tools appropriate sess cutting-edge skills in spreadsheet business engagement (e.g., problem framing, analysis for the analysis and design of business pro- modeling and analysis. design, gathering data, interpreting results, architectural solution, and presentation of cesses and information systems. These tools Prerequisite: GBA 411 or equivalent recommendations) and managing different are applied to electronic commerce ventures, sorts of consulting projects (e.g., operational the design of various service processes, logis- improvement, supply-chain optimization, tics and R&D activities. Key features of the CIS 440. Electronic Commerce Strategy quality improvement, strategy formulation, course are: object-oriented systems analysis (Same as ECM 440) and organization design) will be examined. techniques, the study of cutting-edge research This course covers electronic strategies for • Consulting Skills: The role of the consultant results on work organization and design, and business to business and consumer e-com- and the human dimension will be discussed an introduction to the Visual Basic program- merce. This includes strategies for protecting (e.g., personal attributes of consultants, ming language for rapid prototyping of new market share by going online, ameliorating relationship building, and team building). information systems. The course includes online competition using network effects and Diagnostic tools and data gathering tech- a comprehensive team-based field project customer lock-in, positioning against other niques (e.g., questionnaires and interviews) involving a real business process. This project online presences, dealing disintermediation will be presented. Frameworks for problem requires the application of the concepts and and re-intermediation, developing online solving, and communicating recommenda- techniques taught in the course. tions will also be introduced. communities for business or consumer e-com- Prerequisite: CIS 401 merce, and managing supply chain and cus- The course examines a wide range of tomer relationships. modern global business challenges and opportunities from both the consultant's and the ECM 416. Advanced Information Prerequisite: CIS 401 manager's perspectives and provides a learning Technology platform to integrate and practice the skills (Same as CIS 416) and knowledge learned. CIS 446. Financial Information Systems Information has become increasingly (Same as FIN 446) important to the modern corporation for con- This course examines the role that advances Ph.D. Courses ducting operations, improving efficiency and in telecommunications, the Internet, and maintaining competitiveness in rapidly chang- information systems play in the financial CIS 501, 502, 503, 521, 522, 523. ing markets. Effective use of information markets and the financial services industry. Ph.D. Seminars in Computers and technology (IT) involves knowledge of the An in-depth understanding of operations of Information Systems existing capacities, awareness of how informa- industry is developed while studying technol- tion technology is changing and imaginative ogy’s transformative role. The class explores These six Ph.D. seminars are offered in the use of the technology to enhance business subjects such as electronic trading systems fall, winter and spring quarters, with topics performance. competing with traditional exchanges and selected from the following: decision-support The course contains a broad coverage of Internet brokerage firms challenging full-ser- systems, economics of information and the trends in IT development (e.g., hardware, soft- vice brokerage firms and banks for customers. valuation of information systems, issues in ware, systems architecture, networks, security, How trends in these areas will appear in other the management of information systems and etc.) and how these components can be used kinds of electronic commerce are discussed, the economics of computing, advanced topics for new business applications. The emphasis the latest developments in financial markets in systems analysis and design, organizational is not on the technology, but rather on mana- and the financial services are examined, and aspects of information systems, logical and gerially evaluating its usefulness for solving case studies are used in many classes. physical database design and topics discussed business problems. in the joint CIS/OMG Ph.D. seminars. Topics to be covered include: client server Prerequisites: CIS 401 and FIN 402 Prerequisite: permission of the instructor architecture, data warehousing, data mining, decision support, enterprise resource plan- CIS 461. Strategy and Business CIS 512. Advanced Topics in Database ning, knowledge-based systems/artificial intel- Systems Consulting Practicum Design ligence, networks and security, object oriented (Same as OMG 461) and Web-based programming languages, and This course examines current research issues technology for project managers. All students This course provides M.B.A. students with an in database management systems. Topics are required to complete a group project on introduction to strategy and business systems include: database-design methodologies, the business implications of these technolo- consulting. It is aimed at students who wish to semantic models, semantic integrity con- gies. They have to look at these technologies explore career opportunities within the major from the perspective of a business consultant

39 Simon Graduate School of Business Information Guide 2010–2012 who needs to understand how to match the market share by going online, ameliorating organizations. Also included is a social entre- right technology with his or her customers’ online competition using network effects and preneurship module. business problems. customer lock-in, positioning against other At the same time plans are prepared, other online presences, dealing dis-intermediation entrepreneurial issues are studied, such as Prerequisite: CIS 401 and re-intermediation, developing online assembly resources, launching and building communities for business or consumer e-com- new ventures and harvesting results. ECM 436. Database Marketing merce, and managing supply chain and cus- Lectures, cases and guest speakers are uti- (Same as MKT 436) tomer relationships. lized. The speakers will address a range of new venture topics from the development of Advances in information technology have cre- Prerequisite: CIS 401 ated opportunities for firms to gather more management teams, marketing, finance, ven- detailed information on their customers and ture capitalists and legal issues. The comple- competitors. The enormous volume of infor- ■ ENTREPRENEURSHIP tion of a business plan for a proposed new venture is required. mation which companies now collect poses Duncan T. Moore, Area Coordinator many new challenges. Prerequisite: Completion of core courses and The basic question we address in this course Master’s-Level Courses ENT 422 (after the Fall Quarter 2007) is: “What can one do with all of this data?” Our goal is to integrate statistical models and ENT 422. Generating and Screening marketing models with data and decisions. ENT 424. Projects in Entrepreneurship In this course, students will learn how data- Entrepreneurial Ideas (Same as GBA 424) (Same as GBA 422) base marketing provides management with Available to a limited number of students specific information needed to identify the As the foundation course in Entrepreneurship, (10–15), this course combines a supervised target customer and to retain her or him for ENT422 covers: internship with a start-up firm with lectures a lifetime, if possible. In the absence of data- • Idea Generation and in-class discussion on the management of base marketing philosophy, managers would • Opportunities Screening new ventures. The internship places second- be left with mass marketing and segmented • Entrepreneurial Characteristics year M.B.A. students, to be known as Simon marketing techniques that are not effective This course outlines a critical evaluation Interns, with Rochester-area firms where and efficient in today’s information intensive, process used by successful entrepreneurs to they will work closely with senior managers high-tech global markets. prioritize new venture ideas. The focus of this for approximately 120 hours over a ten-week What is database marketing (DM)? How is course is on the technical and market evalua- quarter. In their internship, students will focus it different from traditional marketing meth- tion of very early-stage ideas when informa- on the commercial viability of the firm's ods? Database marketing is a segmentation tion is greatly lacking and the time and money offerings. This will be accomplished through process that utilizes state-of-the-art statistical to research such answers is also limited. shadowing management, reviewing reports, methods and computerized databased of cus- Students, in group format, will generate and participation in meetings and work assign- tomers to reach the individual consumer. filter their own ideas and evaluate them based ments. This course also examines direct marketing upon technical merit, business challenges, Complementing this hands-on entrepre- in depth, since the roots of database market- and early market indicators. Teams will pres- neurial experience will be weekly classes held ing are in direct marketing. Direct marketing ent their idea-filtering rationale to a panel for to discuss student experiences. In addition, is the type of marketing that recognizes the review and feedback. there will be lectures on pertinent entrepre- individual as the target rather than the entire Behind this evaluation process, the class will neurial subjects as well as guest speakers. market. Direct mail, telemarketing, catalog review reference material on the subject and shopping, Web-based marketing and relation- several accomplished entrepreneurs will share Prerequisites: Completion of core courses, ship marketing are related topics that will be their personal experiences. and either ENT 422, 423 or 425. Permission covered in this course. While the nomenclature will align most of the instructor MUST be secured prior to registration. Prerequisites: MKT 402, GBA 411 and GBA directly to high-technology for-profit start- 412 up companies, parallels to low-tech-no-tech, intra-preneurship, non-profits, and social ENT 425. Technical Entrepreneurship entrepreneurship will be discussed. This course provides an opportunity to exam- ECM 437. Marketing on the Internet ine the management practices associated with (Same as MKT 437) ENT 423. New Venture Development technical innovation and new business devel- This course examines the major issues and Managing for Long Term Success opment. The analysis of entrepreneurship is involved in marketing on the Internet. Among (Same as GBA 423) evaluated primarily from the perspective of a start-up venture that requires equity capital the topics studied are: new product oppor- The focus of ENT 423 is learning how to pre- tunities on the Internet; the changed role of investment. Management issues discussed pare an effective business plan that will com- include organizational development, analysis advertising; the Internet as a two-way communicate the inherent value of the concept. munication medium with consumers; targeting of market opportunities, market engagement, Among the critical issues that will be financial planning and control, capitalization, individual consumers; word-of-mouth among addressed are: consumers on the Internet; the Internet as a sources of funds, the due-diligence process • Competitive conditions and industry and valuing the venture. distribution channel; and marketing research trends on the Internet. An important reason for taking this course • Sustainable competitive advantages is to learn how to develop a business plan. Prerequisite: MKT 402 • Management team Therefore, a significant component of a • Marketing plan student's final grade will be based on this. In ECM 440. Electronic Commerce • Financial plan too many instances, a new venture does not Strategy • Exit possibilities become a viable entity because either there is • Franchising (Same as CIS 440) no plan, or if there is, it is poorly conceived. • Legal Entities Furthermore, a good plan is an effective com- This new course covers electronic strategies The approach used is appropriate for start- munications tool for the investment commu- for business to business and consumer e-com- ups and for corporate venturing. It is also nity. An additional benefit is learning to work merce. This includes strategies for protecting suitable for both for-profit and for non-profit in multidisciplinary teams.

40 Simon Graduate School of Business Information Guide 2010–2012

Teams of three to four students will col- but some facility with technical content will be ENT 444. Entrepreneurial Finance laborate in the preparation of a business plan. helpful. The students will prepare a technol- (Same as FIN 444) The course will include time for students to ogy commercialization and/or new venture share business ideas and identify possible team plan and assist the licensing executives in the This course provides an introduction to finan- members. In general, each team will include University's Office of Technology Transfer in cial theories and tools an entrepreneur needs two M.B.A. students and two science/technol- the negotiation process to implement the plan. to start, build and harvest a successful venture. ogy graduate students. Other team configura- Lectures and case studies will cover financial tions are possible with instructor approval. planning, business valuation including the Each team's business plan will receive a grade ENT 431. Legal and Tax Considerations venture capital and the real option approach, and that grade will apply to each individual on of New Ventures financing, venture capital funds, compensation the team. (Same as BPP 431) structures and exit strategies. (Offered at the discretion of the instructor) Each team will have a coach who is an Prerequisites: FIN 402 and FIN 413 experienced businessperson. The coach will be This course surveys, from the entrepreneur’s available to provide feedback to the team. This perspective, legal and tax considerations that course is cross listed at OPT 481 and is taught ■ Finance impact strategic choices in organizing, fund- Jerold B. Warner, Area Coordinator by a faculty member in the Simon School and ing, staffing, governing, and operating new who is from Engineering. ventures. The course’s principal focus is on Master’s-Level Courses how to create and retain competitive advan- ENT 426. Technology Transfer and tage through the skillful ordering of legal FIN 402. Capital Budgeting and Commercialization affairs. Emphasis will be transactional and Corporate Objectives (Same as GBA 426) include analysis of such issues as the creation and protection of intellectual property, This course provides an introduction to finan- The creation of value in today's globally com- technology licensing, global expansion, and cial analysis and capital budgeting with an petitive environment is increasingly driven internet commerce. The course will include, emphasis on the valuation of real investment by technology. Corporations are reaching out as a context for applied learning, a term proj- projects. Topics discussed include an analysis for new technologies, and start-up companies ect involving the creation and evolution of a of the firm’s choice among alternative invest- with the highest potential are being formed selected new venture opportunity. ment projects, the term structure of interest around novel disruptive technologies. Radical rates, modern portfolio theory and the valua- innovation creates a “gale of creative destruc- ENT 432. Basic Business Law tion of risky assets, the estimation of free cash tion” which transform industries. The identi- flows, capital structure choices, and the cost fication and evaluation of technologies with (Same as BPP 432) of capital. high potential is today a key to success. With This course surveys the law of contracts, the decline of corporate research functions, agency, and business associations – with the Prerequisites: ACC 401, STR 401 and GBA novel technologies are increasingly sourced objective of developing familiarity with select- 411 from other firms and universities. This course ed laws, regulations, legal principles, and legal will examine the overall technology com- processes that govern (a) efficient exchange, FIN 411. Investments mercialization process, with an emphasis on generally; and (b) how and in what ways man- Investments includes discussion of the effi- the processes by which intellectual property agers and entrepreneurs organize and interact cient-markets theory of the dynamic behavior is protected, valued and transferred from one to facilitate exchange. Although emphasis will of prices in speculative markets, along with organization to another. The course addresses be on United States law, there will be selected empirical evidence for the validity of the the strategic decisions involving novel technol- reference throughout the course to issues theory; evaluation of the implications of the ogy: the identification of target markets, the related to international transactions and to efficient-markets theory for the profitability of economic valuation along the phases of the pertinent differences in legal systems of coun- alternative investment strategies; exploration commercialization process and the assessment tries outside the United States. The course of the implications of portfolio theory for of alternative commercialization strategies has a distinct transactional focus, with heavy equilibrium asset prices and the measurement including licensing, startup company forma- reliance upon contemporary cases, commercial of risk; emphasis on the empirical evidence tion and venture capital funding. The course practices, and issues. Particular attention will for various mean-variance and multifactor will be taught by a combination of lectures be given to the impact of the legal framework models of asset pricing and the use of these and real-world case studies of current tech- upon sound managerial decision-making, busi- models for evaluating portfolio performance; nologies, primarily from the University of ness risk management, commercial rights and and introduction to special topics in finan- Rochester in science, engineering and medi- responsibilities, and ultimately business valu- cial markets, such as arbitrage pricing theory, cine. ation. options and futures contracts. ENT 427. Practicum in Technology Prerequisites: GBA 411, GBA 412 Transfer and Commercialization ENT 435. Negotiation Theory and (corequisite) and FIN 402 Practice: Bargaining for Value (Same as GBA 427) (Same as GBA 435) FIN 413. Corporate Finance Students in this course will work in the Office of Technology Transfer on projects which are This course surveys the theoretical and behav- This course provides an intensive analysis a best fit to the student's background and the ioral underpinnings of negotiation practices of the effects of various corporate financial range of inventions from the University of and develops skills that enhance the ability to policy decisions on the value of the firm, Rochester in science, engineering and medi- capture value in cooperative and competitive including a discussion of the effects of taxes, cine. Projects can include either marketing to bargaining scenarios. Students will participate bankruptcy costs and agency costs on these existing companies or work on catalyzing a in and evaluate several cooperative and com- decisions. It then examines the interrelation startup company. Either type of project will petitive negotiation simulations. Grades will of financing policy with executive compensa- require assessments of novel concepts based depend, in large part, on performance in these tion, leasing, hedging and payout policies. The on discussion with the inventors and direct exercises. course provides an understanding of the theo- market research and interactions with poten- retical issues involved in the choice of these tial customers. The skills required are primarily policies. those of marketing and business assessment, Prerequisite: FIN 402

41 Simon Graduate School of Business Information Guide 2010–2012

FIN 423. Corporate Financial Policy considers issues and evidence on different FIN 448. Fixed-Income Securities and Control forms of market structure and trading sys- The objective of this course is to undertake a This course examines the theory and empirical tems, including the role of specialists/dealers, rigorous study of fixed-income securities and evidence for models of corporate financial optimal trading behavior for institutions, price markets. A variety of fixed-income securities policy; analysis of new issues of securities, impact of trades, and related information will be discussed including coupon bonds, recapitalizations, stock repurchases, and the technology. Extensive use is made of invest- callable and putable bonds, sinking fund pro- market for corporate control (tender offers, ment software. visions, and floating rate notes. Interest rate mergers, proxy fights and corporate voting Prerequisite: FIN 411 derivatives such as forwards and futures on rights); and emphasizes critical evaluation of fixed-income securities, bond options, options the evidence for different models of corporate on bond futures, caps, floors, and collars will financial policy. FIN 441. Special Topics in Finance also be discussed. In addition, we will study (Not offered every year) some tools that are useful in bond portfolio Prerequisites: FIN 402 and FIN 411, FIN 413 management including horizon analysis, dura- (may be taken concurrently) Special topics are generally those which are not well covered in other courses. The specific tion, optimization techniques for constructing content varies, depending on faculty interest. bond portfolios and modes for pricing fixed- FIN 424. Options and Futures Markets income securities. While the perspective of This course provides intensive study of the Prerequisite: Established by the instructor this course is from the viewpoint of a bond fundamental ideas of option-pricing theory investor, a person in corporate finance needs and their application to options, financial FIN 442. International Economics and to understand similar material. Evaluating an futures and other securities; analysis of hedg- Finance investment in a fixed-income security is the ing with forward and futures contracts; devel- mirror image of the problem faced by a cor- opment of the Black-Scholes option-pricing (Same as BPP 442) poration in deciding whether or not to issue formula, its uses and modifications, and gen- Topics include: exchange-rate regimes; the a bond. eralizations of the model; and discussion of determination of exchange rates in a world Prerequisites: FIN 402 and FIN 411 the structure and organization of options and of flexible exchange rates; speculation in for- futures markets and the exploration of empiri- eign exchange markets; the Eurocur rency and Ph.D. Courses cal evidence on the validity of option-pricing measurement of foreign exchange exposure; models. Analyses of the pricing of options on analysis of currency forward, future, option, futures, foreign currency, portfolios and index- bond, and swap contracts; hedging of foreign FIN 501. Workshop in Finance es, commodity prices, bond prices and interest exchange exposure. Seminars discussing current research in rates are included as time permits. finance by faculty, students and guest speak- Prerequisite: FIN 402 ers. Ph.D. students are expected to participate Prerequisites: FIN 402 and FIN 411 Recommended: FIN 411 actively. FIN 430. Financial Institutions FIN 444. Entrepreneurial Finance Prerequisite: permission of the instructor This course focuses on analysis of the mutual (Same as ENT 444) fund, investment banking, commercial bank- FIN 505. Theory of Finance ing and insurance industries. Particular empha- This course provides an introduction to finan- The goal of this course is to present the sis is placed on the effects of contracts and cial theories and tools an entrepreneur needs theory of asset pricing and portfolio selection organizational structure on the incentives of to start, build and harvest a successful venture. in multiperiod settings under uncertainty. The the participants in these industries. Cases and lectures will cover business evalua- asset pricing results are based on three increas- tion and valuation, including the venture capi- ingly restrictive assumptions: single-agent Prerequisites: FIN 402; FIN 411 and FIN 413 tal and the real option approach, financing, optimality, absence of arbitrage and equilib- (may be taken concurrently) venture capital funds, compensation structures rium. These results are unified with two key and exit strategies. concepts: pricing kernels and martingales. The FIN 433. Cases in Finance Prerequisites: FIN 402, FIN 411, FIN 413 course draws connections between these con- This course provides intensive exercise in cepts and makes plain the similarities between discrete and continuous time models. Applica valuation methods and the economic analysis FIN 446. Financial Information of problems of corporate financial policy. A tions include term structure models, portfolio variety of other topics, including insider trad- Systems choices and the pricing of corporate securities. ing, portfolio performance and asset alloca- (Same as CIS 446) tion, are also explored. Specific case topics This course examines the role that informa- FIN 511. Advanced Financial include: corporate valuations; M&A transaction systems and telecommunications play in Economics tions (tender offers, mergers, proxy fights); various aspects of financial markets, financial (Alternates with FIN 534) recapitalizations; stock repurchases; and novel service organizations, and corporate finance. The course builds on the basic theory present- securities. Case reports are done in teams and Technology’s transformation of financial judged on clarity and usefulness to practitio- ed in FIN 505 Theory of Finance. FIN 511 markets is studied from the perspectives of will emphasize some relatively advanced math- ners in understanding and resolving strategic electronic trading systems competing with problems. ematical methods that are used in the research exchanges; Internet brokerage firms attracting literature of financial economics. The objec- Prerequisites: FIN 402 and FIN 413 trading and IPO’s and making markets; firms tive of the course is to provide the student supplying company and market information, with enough knowledge of these methods that FIN 434. Investment Management and managing risk, and providing custodial and he or she can begin to use them in nontrivial management services. The course covers ways in his or her research. Particular empha- Trading Strategies financial services issues such as electronic This course explores selected topics in the sis is given to topics that are costly or difficult banking, automated personal financial man- to learn on an individual basis. management of equity portfolios. Course agement, electronic payment systems, and dig- content may vary from year to year. Topics ital cash. Case studies are used in many classes. Recommended: FIN 505 include: active portfolio management with particular emphasis on risk analysis, multi- Prerequisites: CIS 401 and FIN 402 factor risk/return models and performance evaluation and style analysis. The course also 42 Simon Graduate School of Business Information Guide 2010–2012

FIN 532. Advanced Topics in Capital GBA 422. Generating and Screening GBA 424. Projects in Entrepreneurship Markets Entrepreneurial Ideas (Same as ENT 424) This course covers classic contributions (Same as ENT 422) Available to a limited number of students and recent developments in capital markets As the foundation course in Entrepreneurship, (10–15), this course combines a supervised research, both applied theoretical and empiri- ENT422 covers: internship with a start-up firm with lectures cal, in relation to corporate policies, business • Idea Generation and in-class discussion on the management of cycle and economic growth. Specific topics • Opportunities Screening new ventures. The internship places second- incude time-series predictability of stock mar- • Entrepreneurial Characteristics year M.B.A. students, to be known as Simon ket returns, empirical methods and evidence This course outlines a critical evaluation Interns, with Rochester-area firms where on the cross-section of returns, evidence on process used by successful entrepreneurs to they will work closely with senior managers mutual fund performance and the closed-end prioritize new venture ideas. The focus of this for approximately 120 hours over a 10-week fund puzzle, event studies and the empirical course is on the technical and market evalua- quarter. In their internship, students will focus relations between stock returns and corporate tion of very early-stage ideas when informa- on the commercial viability of the firm's policies, consumption-based asset pricing, tion is greatly lacking and the time and money offerings. This will be accomplished through applied equilibrium modeling of asset pricing to research such answers is also limited. shadowing management, reviewing reports, anomalies and behavioral finance. Students, in group format, will generate and participation in meetings and work assign- Prerequisites: FIN 402 and FIN 411 filter their own ideas and evaluate them based ments. upon technical merit, business challenges, Complementing this hands-on entrepre- FIN 534. Advanced Topics in Corporate and early market indicators. Teams will pres- neurial experience will be weekly classes held Finance ent their idea-filtering rationale to a panel for to discuss student experiences. In addition, review and feedback. there will be lectures on pertinent entrepre- This course examines the determinants and Behind this evaluation process, the class will neurial subjects as well as guest speakers. consequences of corporate financial policy review reference material on the subject and choices. Topics include: capital structure, several accomplished entrepreneurs will share Prerequisites: Completion of core courses, bankruptcy and financial distress, payout their personal experiences. and either ENT 422, 423 or 425. Permission policy, corporate control, leasing, hedging and While the nomenclature will align most of the instructor MUST be secured prior to insurance, raising capital, concentrated owner- directly to high-technology for-profit start- registration. ship, board structure, and executive compen- up companies, parallels to low-tech-no-tech, sation. Specific topics will vary from year to intra-preneurship, non-profits, and social GBA 426. Technology Transfer and year. The course will investigate both the theo- entrepreneurship will be discussed. Commercialization retical and empirical literature on these topics. (Same as ENT 426) GBA 423. New Venture Development The creation of value in today's globally com- ■ General Business and Managing for Long Term Success petitive environment is increasingly driven Administration (Same as ENT 423) by technology. Corporations are reaching out Rajiv M. Dewan, Area Coordinator for new technologies, and start-up companies The focus of GBA 423 is learning how to pre- with the highest potential are being formed pare an effective business plan that will com- Master’s-Level Courses around novel disruptive technologies. Radical municate the inherent value of the concept. innovation creates a “gale of creative destruc- GBA 411 and GBA 412. Among the critical issues that will be tion” which transform industries. The identi- Framing and Analyzing Business addressed are: fication and evaluation of technologies with high potential is today a key to success. With Problems 1 and 2 • Competitive conditions and industry trends the decline of corporate research functions, Framing and Analyzing Business Problems • Sustainable competitive advantages novel technologies are increasingly sourced is a two-quarter sequence. Both courses • Management team from other firms and universities. This course focus on teaching students how to approach • Marketing plan will examine the overall technology com- unstructured business problems logically and • Financial plan mercialization process, with an emphasis on empirically with the goal of informing busi- • Exit possibilities the processes by which intellectual property ness strategy and operational decisions. Issues • Franchising is protected, valued and transferred from one stressed throughout the two courses include: • Legal Entities organization to another. The course addresses 1) framing the relevant business question; 2) The approach used is appropriate for start- the strategic decisions involving novel technol- hypothesis formulation; 3) searching for rel- ups and for corporate venturing. It is also ogy: the identification of target markets, the evant information and data; 4) describing data suitable for both for-profit and for non-profit economic valuation along the phases of the and graphical analysis; and 5) communicating organizations. commercialization process and the assessment the analysis. While the courses are not meant Also included is a social entrepreneurship of alternative commercialization strategies to be “run of the mill” statistics courses, they module. including licensing, startup company forma- introduce important statistical concepts and At the same time plans are prepared, other tion and venture capital funding. The course tools including basic statistical concepts (ran- entrepreneurial issues are studied, such as will be taught by a combination of lectures dom variables, probability, basic descriptive assembly resources, launching and building and real-world case studies of current tech- statistics, expectations and variances); prob- new ventures and harvesting results. nologies, primarily from the University of ability density and distribution functions (con- Lectures, cases and guest speakers are uti- Rochester in science, engineering and medi- tinuous and discrete distributions, joint and lized. The speakers will address a range of cine. marginal distributions, binomial distribution new venture topics from the development of GBA 427. Practicum in Technology and normal distribution); decision, risk and management teams, marketing, finance, ven- sensitivity analysis (risk and risk attitudes, deci- ture capitalists and legal issues. The comple- Transfer and Commercialization sion trees, value of information, Bayes’ rule); tion of a business plan for a proposed new (Same as ENT 427) estimation (sampling, parameter, estimates, venture is required. and confidence intervals); hypothesis testing Students in this course will work in the Office (tests of means and proportions and of differ- Prerequisite: Completion of core courses and of Technology Transfer on projects which are ences) and regression analysis. ENT 422 422 (after the Fall Quarter 2007) a best fit to the student's background and the

43 Simon Graduate School of Business Information Guide 2010–2012 range of inventions from the University of functions, estimation (sampling, estimates and to analyze the “what if ” problems faced by Rochester in science, engineering and medi- confidence intervals) and hypothesis testing. senior managers in these cases. Oral and writ- cine. Projects can include either marketing to The remaining six weeks of the course— ten reports are graded on the clarity of pre- existing companies or work on catalyzing a the accounting and finance module—will sentation as well as the quality of analysis. startup company. Either type of project will present skills required to interpret and analyze require assessments of novel concepts based common financial statements and evaluate a Prerequisite: completion of core courses on discussion with the inventors and direct company’s past performance and potential market research and interactions with poten- future performance. Specific topics of discus- GBA 486. Management of Technology tial customers. The skills required are primarily sion will include differences in financial state- (Offered at the discretion of the instructor) those of marketing and business assessment, ments of for-profit vs. not-for-profit entities, but some facility with technical content will be financial statement analysis, development This capstone course focuses on the strate- helpful. The students will prepare a technol- of pro-forma financial statements, cash vs. gies of international corporations that seek ogy commercialization and/or new venture accrual accounting, depreciation methodolo- a sustainable competitive advantage through plan and assist the licensing executives in the gies, introduction of management accounting technological innovation. Instruction consists University's Office of Technology Transfer in concepts and capital budgeting. Capital bud- of lectures, guest speakers from the business the negotiation process to implement the plan. geting will include net present value (NPV), community and case presentations. Topics pay-back, accounting rate of return (ARR) and include: the definition of corporate strategy; internal rate of return (IRR). the C.E.O.’s role as leader as well as manager; GBA 435. Negotiation Theory and the analysis of the firm’s competitive posi- Practice: Bargaining for Value tion; the development of the firm’s core (Same as ENT 435) GBA 461. Core Economics for M.S. competencies; the management of research Students* and development; fast-cycle product devel- This course surveys the theoretical and behav- opment; cross-functional teams; achieving ioral underpinnings of negotiation practices *Available only to M.S. students concentrating in Marketing and in Finance. product quality through technology; a com- and develops skills that enhance the ability to parative analysis of patent law in the U.S. and capture value in cooperative and competitive This course covers the fundamentals of eco other countries; structuring strategic alliances bargaining scenarios. Students will participate nomic theory, and discusses marketing-rele between large and small firms; international in and evaluate several cooperative and com- vant applications. Specific concepts include joint ventures; and the acquisition of small, petitive negotiation simulations. Grades will understanding demand and demand elasticity, high-tech firms by large corporations. Student depend, in large part, on performance in these marginal revenue, key cost concepts (fixed teams play the role of principals in a manage- exercises. costs, variable costs, marginal costs, sunk ment consulting firm (“Simon Associates”) costs), profit maximization, understanding that has been retained by the C.E.O. of a tech- GBA 442. Improving the Simon School the competitive environment and strate- nology-based corporation to develop strategic (Not offered every year) gic decision making, and net present value options and recommendations for the solution calculations. This course is an applied consulting class of a complex business problem with marketing, operations and financial implications. Oral and is being offered to provide students with GBA 462. Core Statistics for M.S. an insight to the “industries” within which presentations, management memos and writ- the University of Rochester and its Simon Students* ten reports are graded on the clarity Graduate School of Business operate while *Available only to M.S. students concentrating in of presentation as well as the quality of analy- generating significant ideas for improvement Marketing and in Finance. sis. for the Simon School. This course will be taught to equip students Prerequisite: completion of core courses Prerequisite: Permission of the instructor with the statistical skills necessary for success in marketing positions. The course covers cen- GBA 490. American Business Practice tral tendency and variability, probability, bino- GBA 450. Accounting, Economics and Credit—one hour Finance for M.S. Students* mial and normal distributions, standard scores, hypothesis testing, z and t tests, ANOVA, cor- This course is designed to give non-U.S. stu- (Same as HSM 450) relation and regression, and non-parametric dents an opportunity to apply business-man- *Available only to M.S. students concentrating in tests. agement theories they have learned in their Marketing and Health Sciences Management GBA 482. Business Policy Simon School studies while they are assigned as interns (minimum of six weeks) with U.S. This course is designed to present the fun- (Offered at the discretion of the instructor) companies. Internships allow students to work damentals of economic analysis, financial in business settings/situations in which they accounting and financial analysis that will This capstone course focuses on how corpo- receive on-the-job training from management serve as a foundation for concepts devel- rations and other forms of enterprise establish personnel and gain valuable practical experi- oped throughout subsequent courses in the aims and goals, determine strategies to achieve ence in performing professional-level tasks M.S. Program. The objectives of this course those aims and goals and, subsequently, how in their area(s) of concentration. GBA 490, are to enable participants to understand and those strategies are executed. Emphasis is which cannot be used to complete a concen- productively use the principles of managerial given to the concerns of top management tration in the M.B.A. program, is open only economics and accounting information to leaders in anticipating and reacting to changes to non-U.S. students who are eligible to work better structure business decisions. In addi- in the economic environment, changes in the in the United States. An eligible student, as tion, the course will address the principles nature of market competition and how action defined by the Immigration and Naturaliza of capital budgeting. The first five weeks of is stimulated to produce desired responses in tion Service, is a degree candidate who has the course will be an economics and statistics the enterprises they govern. The course con- lawfully resided in the United States on visa module. Basic concepts of managerial eco- sists of lectures and discussions supplemented status for at least one academic year (eight to nomics will be covered including demand and by the analysis of recent complex cases involv- nine months) prior to starting an internship demand elasticity, marginal revenue, key cost ing well-known international corporations in position. Students who plan to enroll in GBA concepts (fixed costs, variable costs, marginal contemporary situations. Both individual and 490 must communicate with the University costs, sunk costs) and profit maximization. team reports are required, and students are of Rochester’s International Services Office The module will also introduce basic statisti- expected to use computer-based market fore- (ISO) regarding the submission of proper cal concepts such as probability distribution casting and financial-simulation techniques documentation for employment. They should 44 Simon Graduate School of Business Information Guide 2010–2012 inform Simon School Career Management of participate in one of several exchange pro- choices within each sector are responses to their plans to seek a business internship, and grams. See the chart on page 48 of this guide the unique institutional factors in the health they should schedule an appointment with for details. care marketplace and how the strategies of Career Management to discuss career interests each sector affect the behavior of the others. and employment-search strategies. When/if GBA 494. Foreign Language Transfer Students will leave the course with an ability an internship is obtained, the student must to think productively about management and meet with a GBA 490 faculty advisor to pre- Credit strategy challenges within each of the three pare a proposal describing the location and Credit—three hours health science sectors. nature of the assignment and the planned Prerequisite: STR 401 functional area of study. The proposal, which Ph.D. Courses Recommended: STR 403, STR 421 will include specific learning objectives, must be approved by the faculty advisor prior to the GBA 591. Ph.D. Reading Course student’s acceptance of the internship. Upon HSM 431. Applications of Corporate completion of the internship assignment, the GBA 594. Ph.D. Independent Study Finance and Governance to Health student must prepare a 10- to 12-page report GBA 595. Ph.D. Research Care detailing its outcome(s) and stating whether This course applies the principles of corporate the proposed learning objectives were met. GBA 995. Continuation of Doctoral finance and governance to the institutional Enrollment setting of health care. It draws on the prin- Prerequisite: completion of all core courses ciples of financial valuation, investments and GBA 999. Writing Dissertation corporate financing, as well as the economics GBA 490E. Integrating Business Theory of organizations and corporate governance, and Practice ■ HEALTH SCIENCES to analyze current management problems in Credit—one hour MANAGEMENT the health care sector. The primary purpose of the course is to gain an understanding and This course is designed to give students an Ronald W. Hansen, Area Coordinator comfort level with applying economic and opportunity to apply business-management financial theories within the unique institu- theories they have learned in their Simon Master’s-Level Courses tional setting of health care. School studies while they are assigned as unpaid interns. HSM 420. Business Economics of the Prerequisites: STR 403, ACC 410. In addition, These unpaid internships allow students Health Care Industry it is strongly recommended that students com- to work in business settings and situations in This course aims to educate students about plete FIN 413 and HSM 430 before taking this which they receive on-the-job training from the unique business institutions and problems course. management personnel and gain valuable of the health care industry so that students practical experience in performing profession- can be prepared to apply their core business HSM 437. Managing Health Care al-level tasks in their area(s) of concentration. knowledge to solve managerial problems in Operations GBA 490E, Integrating Business Theory the health care industry. The course will con- (Same as OMG 437) and Practice, which cannot be used to com- sist of an overview of the major institutions plete a concentration in the M.B.A. program, of the U.S. health economy as well as an eco- The health care industry is undergoing rapid is open to international students who are not nomic analysis of these institutions. growth as well as rapid structural changes. yet eligible to work in the United States or to New technology, changing reimbursement any domestic student who has completed at HSM 425. Managerial Accounting for mechanisms, and increased competition create least two quarters of study. Health Care Organizations many interesting management problems, not in the least in the area of health care opera- Students should complete a GBA 490E (Same as ACC 445) form, meet with the Student Services director tions. In this course, we will study the opera- and then bring the approved paperwork to the Costs for health services continue to rise tions of various types of health care provider Simon School registrar’s office for processing. faster than overall economic growth, draw- organizations (such as hospitals, HMO’s, Upon completion of the internship assign- ing ever greater attention from employers, group practices, nursing homes, etc.) and other ment, the student must prepare a one- to governments and consumers. The front line participants in the industry (such as insurance two-page report detailing the outcome(s) and of the cost battle is within the health services companies, pharmaceutical companies, sup- stating whether the proposed learning objec- entities, where decision making depends on pliers and consulting companies). Topics that tives were met. accurate reporting of internal costs. This cost will be studied include: patient and provider will allow the student to understand how costs scheduling, capacity management, providing are reported and how to use this information services and supplies to health care provid- GBA 491. Reading Course to make decisions within the health services ers, new product development and integrated (Offered at the discretion of individual entity. The following topics will be examined delivery systems. faculty) within a health services setting: cost allocation, Prerequisite: OMG 402 or an equivalent Supervised reading and study on topics cost-volume-pricing analysis, budgeting and variance analysis, and activity-based costing. beyond those covered in existing formal HSM 440. Evolving Medical Markets courses. (Same as BPP 440) HSM 430. Health Sciences Firms supplying products and services to the GBA 492/493. International Exchange Management and Strategy (Same as STR 430) health care industry face a variety of regula- Programs tory and marketing challenges that will be (Open to full-time and part-time M.B.A. stu- This course applies the principles of orga- explored in this course. Topics include: the dents; GBA 492—six credits; GBA 493—nine nizational economics and strategy to the economics of developing and marketing new credits) institutional setting of the health sciences. medical technologies, regulations affecting The course focuses on the interdependence market structure, health and safety regulations The International Management–Exchange between the delivery, financing, and technol- and insurance markets. The course will cover option of the International Management ogy sectors of the health care marketplace. evaluation tools frequently used in public concentration gives students opportunities to It discusses how management and strategy

45 Simon Graduate School of Business Information Guide 2010–2012 policy debates and in marketing medical tech- accounting are combined with material devel- HSM 456: Practicum in Medical nologies including cost-benefit and cost-effec- oped in ACC 410 to develop a framework for Management 2 tiveness analysis and quality of life indices. financial decision making, financial planning, assessment and control. The goal of the class A continuation of the project from HSM 455. Specialized Courses is to provide students with a set of tools to Prerequisite: HSM 455 first make financial decisions about program- The courses below are only available to stu- matic development. In addition, students will ■ dents in the Master of Science in Business be taught to assess and control programs MANAGEMENT SCIENCE Administration with a concentration in toward specified financial goals. METHODS Medical Management program. Edieal J. Pinker, Area Coordinator HSM 453: Health Care Operations HSM 450. Accounting, Economics and Master’s-Level Courses Finance for M.S. Students* This is an advanced course on operations management for health delivery organizations. (Same as GBA 450) We will study the application of operations MSM 400. Mathematics Review *Available only to M.S. students concentrating in management concepts to the management Non-credit Marketing and Health Sciences Management of health care provider organizations (such Review of mathematical concepts prerequisite as hospitals, group practices, HMO’s, nurs- to the M.B.A. program. Topics include: sets, This course is designed to present the fun- ing homes, etc.), and other participants in the damentals of economic analysis, financial vectors and matrices, functions and relations, health industry (such as insurance companies, linear equations, laws of exponents, limits and accounting and financial analysis that will pharmaceutical companies, consulting busi- serve as a foundation for concepts devel- continuity, differentiation, maxima-minima, nesses, etc.). Applications will include both partial derivatives and simple integration. oped throughout subsequent courses in the medical and administrative operations. The M.S. Program. The objectives of this course course will use a mixture of cases, lectures, in- are to enable participants to understand and class exercises, and guest lecturers. MSM 491. Math for Management productively use the principles of managerial Part of this course will be closely integrated Credit—two hours economics and accounting information to with Operations 402, extending and apply- better structure business decisions. In addi- This is a master’s level math class that is more ing concepts from the introductory course to intensive than MSM 400. Analysis and con- tion, the course will address the principles practical problems in health care administra- of capital budgeting. The first five weeks of cepts in modern business analysis rely heavily tion. However, a significant part of the course on quantitative methods. The objective of this the course will be an economics and statistics will focus on quality and process improve- module. Basic concepts of managerial eco- course is to bring incoming M.B.A. or M.S. ment, a topic that is not covered in Operations students “up to speed” with respect to the nomics will be covered including demand and 402. demand elasticity, marginal revenue, key cost mathematical and statistical knowledge expect- concepts (fixed costs, variable costs, marginal ed of them. The complexity of the course is costs, sunk costs) and profit maximization. HSM 454: Designing and Optimizing on part with (college) freshman-year calculus, The module will also introduce basic statisti- Health Care Organizations algebra and introduction to probability and cal concepts such as probability distribution Concepts developed in STR 403 are applied statistics. Necessary theories and intuition functions, estimation (sampling, estimates and within a health care setting to teach the stu- behind them will be covered. The focus of the confidence intervals) and hypothesis testing. dent: 1) how to design compensation plans course is primarily on applications in business, The remaining six weeks of the course— that attract, retain and motivate medical pro- economics and related areas. the accounting and finance module—will fessionals; and 2) how to organize tasks within Math for Management is offered in the present skills required to interpret and analyze (and outside) the organization to achieve coor- summer quarter only. While it is not a required common financial statements and evaluate a dination and efficiency. course for the credits required for the M.B.A. company’s past performance and potential or M.S. degree, it will be a graded class to future performance. Specific topics of discus- HSM 455. Practicum in Medical give students an assessment of their math- sion will include differences in financial state- Management ematical skills. The G.P.A. will appear on the official transcript, but will not be included in ments of for-profit vs. not-for-profit entities, This course provides students with hands- financial statement analysis, development the cumulative G.P.A. for the M.B.A. or M.S. on experience with a medical management program. of pro-forma financial statements, cash vs. project. It develops skills in formulating a accrual accounting, depreciation methodolo- problem, working with data, finding possible Ph.D. Courses gies, introduction of management accounting solutions and delivering recommendations, all concepts and capital budgeting. Capital bud- within a fixed time frame. Students will learn MSM 501. Quantitative Methods geting will include net present value (NPV), to produce analysis, but also have to argue pay-back, accounting rate of return (ARR) and persuasively that the recommendations based Colloquium internal rate of return (IRR). on the analysis are valuable and should be Non-credit implemented. This is a forum for the presentation of on- HSM 451: Health Care Marketing Projects require that students not only going and recently completed work by stu- and Business Plan Development apply analyses learned in the classroom, but dents, faculty and guest lecturers. Basic marketing concepts are integrated with also that they argue persuasively that the rec- the unique institutional features of health care ommendations based on the analyses are valu- MSM 502. Linear Algebra and Linear markets to develop a framework for producing able and should be implemented. Teams of Programming three to four students will be responsible for a marketing and business plan for a health care This course provides an introduction to linear organization. A special focus is placed on the the individual projects, and will meet with the instructor individually. The organizations sub- algebra and linear programming. The topics practical elements of learning how to produce covered are: definitions and examples, intro- business plans. mitting projects must be willing to spend time with students and to provide appropriate data. duction to linear algebra, the simplex method, starting solution and convergence, the revised HSM 452: Health Care Accounting and simplex method, duality and sensitivity analy- Finance sis, and (if time permits) the structure of con- Basic concepts in finance and financial vex polyhedral sets. Offered in the summer, primarily for entering doctoral students. 46 Simon Graduate School of Business Information Guide 2010–2012

MSM 504. Theory of Probability and illustrated on classical integer problems such sis, multidimensional scaling, conjoint analysis, Stochastic Processes I as the knapsack, set covering/partitioning and etc. As part of the course requirements, teams The course will study probability spaces; traveling salesman. of students design, administer, analyze and univariate and multivariate distributions; report on an actual marketing-research study. moments; transforms and generating func- MSM 542. Queuing Theory and Prerequisites: MKT 402, GBA 411 and GBA tions; univariate and multivariate central limit Applications 412 theorems; Markov chains and processes in dis- The course offers in-depth study of queues crete and continuous time; autoregressive and and networks of queues, including single- and MKT 414. Pricing Policies moving average time series; Poisson process; multiserver-queues; Markovian models of (Same as STR 423) Wiener process; discrete and continuous time phase-type systems; open-and-closed networks Pricing is one of the most important, least renewal theory; and properties of Markov of queues; product-form solutions and local understood, and most controversial deci- chains. balance; bottleneck-analysis approximations sions a manager has to make. These decisions and computational aspects. It also covers often have significant long-term implications MSM 505. Theory of Probability and applications to scheduling, resource allocation for a firm’s bottom line. The purpose of this Stochastic Processes II and capacity-expansion decisions in service course is to help future managers make good The course will study birth-death processes; systems, computer systems and job shops. decisions by preparing them to analyze the M/M/1 and M/M/S queuing systems; Prerequisite: MSM 504 or Medical School environment in which their firm operates and transient behavior in time-reversible chains; course BST 402, or permission of the instruc- to arrive at an appropriate pricing policy for stochastic systems; delay and loss in M/G/1; tor their product or service. More specifically, the queues with interrupted service; Markov diffu- objectives of the course are: 1) to develop an sion processes; and applications. MSM 549. Stochastic Models understanding of the relationship between a firm’s environment (e.g., cost, demand, com- This course reviews applications of stochastic petition, and legal aspects) and its optimal MSM 509. Informational Sciences and processes to business problems drawn from Large-Scale Algorithms pricing strategy, and 2) to develop skills in reliability, inventory and production control, applying this understanding. This course examines recent methodologi- and queuing models of computers, telecom- There are several components to the cal and modeling advances for solving large munications, manufacturing and service sys- course: elasticity of demand and relevant business problems. It includes summaries of tems; applications of stochastic-control theory costs, price discrimination and market seg- numerical analysis techniques, artificial intel- and Markov decision processes; modeling mentation, and competitive pricing. Students ligence and heuristic optimization techniques techniques including aggregation, hierarchical will learn the fundamentals of economic-value (neural networks, genetic algorithms, tabu modeling, decomposition, approximations, analysis and break-even analysis, and will be search and simulated annealing), and modeling bottleneck detection and elimination, simula- made familiar with strategies such as bundling, techniques (decomposition, aggregation, scal- tion and sensitivity analyses; and economic tie-in sales, quantity discounts, product-line ing and dimensional analysis). The advances issues in the design, performance evaluation pricing, and demand buildup. The course will in optimization techniques include primal and and management of stochastic systems. cover ways of predicting competitor-pricing dual decomposition, distributed algorithms, responses, and it will discuss a firm’s legal various projection and relaxation approaches, Prerequisite: MSM 504 or Medical School environment as it pertains to pricing. inner and outer linearization, aggregation and course BST 402, or permission of the instruc- bounds. tor Prerequisites: STR 401 and MKT 402 (may be taken concurrently) Prerequisite: MSM 535 or permission of the ■ Marketing instructor Dan Horsky, Area Coordinator MKT 431. Consumer Behavior MSM 522. Optimization The course studies buyer behavior in Master’s-Level Courses consumer and industrial markets. Topics This course introduces unconstrained and include: culture, social class, consumer constrained optimization in RN. Theoretical MKT 402. Marketing Management involvement, motivation, knowledge, attitudes topics include: convexity, Kuhn-Tucker con- This course is our introduction to marketing. and group decision making. Besides theory, ditions and Lagrangian duality. Algorithms The viewpoint is that of a manager making the course also covers applications to product, include: equation solving (Newton), primal marketing decisions in a variety of competitive advertising and pricing decisions. methods (gradient, variable metric, penalty and institutional settings. Considered are: con- and barrier, and successive quadratic program- sumer behavior, marketing research, product Prerequisite: MKT 402 ming), dual-ascent methods, and primal-dual design, advertising, salesforce management, methods (augmented Lagrangian). pricing and distribution channels. MKT 432. Product Planning Prerequisites: MSM 502; and College courses Prerequisites: STR 401, GBA 411 and GBA This course examines the issues involved MTH 235 and MTH 265 412 (may be taken concurrently) in the planning and introduction of new brands and the management of existing MSM 535. Network and Integer MKT 412. Marketing Research brands. The approach taken is analytical and consistent with some of the more up-to-date Programming This course deals with the collection and use methods used by companies. The course starts This course covers the solution of network of data to support marketing decisions. The by examining the product class in which the problems and integer programs. Shortest first part of the course teaches the student firm is considering either repositioning an path, minimum spanning tree, maximum flow, how to formulate the research problem, design existing brand or introducing a new brand. We minimum-cost flow and matching are some the research and collect the data. Among study how consumers choose a brand within of the network problems covered. Algorithms the data-collection techniques discussed are: the product class. This includes the theory and for linear-integer and mixed-integer problems questionnaire design; telephone, mail and estimation of the multiattribute utility model. include branch and bound, implicit enumera- electronic surveys; and laboratory and field Leading on from this, we study how to reposi- tion, primal and dual cutting planes, group experiments. The second part of the course tion an existing brand and optimally design theoretic methods, Lagrangian relaxation and examines various techniques for analyzing a new brand or a line of brands. Procedures surrogate relaxation. These algorithms are data: cross-classification analysis, factor analy-

47 Simon Graduate School of Business Information Guide 2010–2012 for lab and market testing of a new brand and new forms of retailing—are discussed. In MKT 441. Brand Management are reviewed. We proceed by evaluating the addition, a number of modeling and quantita- Workshop current and future sale of the product class tive techniques are studied that help imple- This course is the capstone course of the through the diffusion model. A discussion is ment the strategies discussed in the course. Brand Management Track. Lectures focus held on the marketing mix policies for brands On the salesforce front, the course delves on scanner data analysis, and guest speak- over the product life cycle. The course con- into a number of critical issues such as perfor- ers discuss timely brand management topics. cludes with an evaluation of the portfolio of mance measurement, territory decision, quotas The main focus is a team project performed product classes in which the firm ought to and compensation design. for a major consumer packaged goods firm, compete. A group project involving the devel- Prerequisite: MKT 402 requiring the analysis of various current data opment of a marketing strategy for an existing sources, most notably scanner data. The major brand with emphasis on its repositioning is deliverable is a presentation to the client by required. MKT 436. Database Marketing each team of their findings. Typically, this Prerequisites: MKT 402, GBA 411 and GBA (Same as ECM 436) amounts to performing a brand review. 412 Advances in information technology have cre- Prerequisite: MKT 412 (may be taken ated opportunities for firms to gather more concurrently) MKT 433. Advertising and Sales detailed information on their customers and Promotion competitors. The enormous volume of infor- MKT 442. Special Topics in Marketing mation which companies now collect poses This course explores the tools available to (Not offered every year) marketers for the promotion of products and many new challenges. The basic question we services. The integrated marketing communi- address in this course is: “What can one do Special topics are generally those which are cations philosophy is stressed, and principles with all of this data?” Our goal is to integrate not well covered in othe other courses, or they of consumer behavior are discussed as the statistical models and marketing models with may deal with marketing in selected industries starting point for the analysis of promotion data and decisions. (e.g., financial services, high-tech marketing, decisions. Advertising is the main focus of In this course, students will learn how data- etc.). The specific content of the course varies, the class, and issues such as the setting of base marketing provides the management with depending on faculty interests. specific information needed to identify the campaign objectives, segmentation and target- Prerequisite: permission of the instructor ing, budgeting, media placement, message target customer and to retain her or him for strategy, creative development, persuasion and a lifetime, if possible. In the absence of data- measurement of advertising effectiveness are base marketing philosophy, managers would MKT 448. Brand Strategy Workshop discussed. More specialized units consider be left with mass marketing and segmented In this project-based course, students consult Internet and global/cross-cultural advertis- marketing techniques that are not effective with the senior leadership teams of local coming. Sales promotion techniques are also and efficient in today’s information intensive, panies that are in need of a brand strategy. discussed, including consumer promotions high-tech, global markets. In doing so, students address the following (e.g., sampling, coupons, premiums, contests) What is database marketing (DM)? How is questions: and trade promotions (e.g., buying allowances, it different from traditional marketing meth- • What is the firm’s desired brand strategy? cooperative advertising). Other elements of ods? Database marketing is a segmentation • How does the firm currently see its brand? promotion discussed include public relations, process that utilizes state-of-the-art statistical • How does the marketplace perceive the sponsorships and personal selling. methods and computerized databases of cus- firm? (Internal and external perceptions tomers to reach the individual consumer. rarely match.) Prerequisite: MKT 402 This course also examines direct marketing • What can the firm do organizationally (hir- in depth, since the roots of database marketing, structure, incentives, etc.) to move MKT 435. Distribution Channels and ing are in direct marketing. Direct marketing toward providing the desired brand? Salesforce Management is the type of marketing that recognizes the • What can the firm do using marketing This course deals with the issues that arise in individual as the target rather than the entire activities, including product and service designing and managing distribution channels market. Direct mail, telemarketing, catalog experiences, to move consumer perceptions and salesforces. A central theme of the course shopping, Web-based marketing and relation- toward this desired positioning? is that these entities perform both a tacti- ship marketing are related topics that will be The course introduces students to an intui- cal/operational function as well as a strategic covered in this course. tive framework in which to develop answers to function and that both aspects need to be con- Prerequisites: MKT 402, GBA 411 and GBA these questions and a series of research tools sidered in their design and management. The 412 to collect the needed information. Students course looks at a number of design options, then actually use these tools to help a local ranging from direct distribution through a company design brand strategy. salesforce to a complex, multi-layered channel MKT 437. Marketing on the Internet Students in this course realize several mean- consisting of several layers of intermediaries (Same as ECM 437) ingful benefits: such as wholesalers and retailers. This course examines the major issues • Greater preparedness to add immediate Managing a channel requires an understand- involved in marketing on the Internet. Among value in the corporate workforce, where they ing of the competitive and cooperative aspects the topics studied are: new product oppor- are sure to come across the topic of brand of manufacturer-distributor relationships. The tunities on the Internet; the changed role of building. This class provides them with prac- course evaluates the efficiency of contractual advertising; the Internet as a two-way com- tical exposure to a proven methodology and arrangements like exclusive territories, exclu- munication medium with consumers; targeting an array of appropriate tools for aligning sive dealing requirements and resale-price individual consumers; word-of-mouth among organizations going through a brand trans- maintenance from the manufacturer’s and consumers on the Internet; the Internet as a formation or engaging in a brand-related the distributor’s point of view. Finally, an distribution channel; and marketing research project. assortment of contemporary issues in chan- on the Internet. • Access to senior level leadership challenges. nels—such as everyday low pricing versus This course provides an opportunity for promotional pricing, slotting allowances, the Prerequisite: MKT 402 students to interact regularly with the upper shift in bargaining power from manufacturers management of the participating company, to retailers for consumer goods, growth of thereby enabling them to learn from real- store-labeled brands, the role of the Internet life, demanding experiences.

48 Simon Graduate School of Business Information Guide 2010–2012

Class sessions consist of lectures relating • Linear and Nonlinear Regression (Demand/ ysis, performance measurement systems for to brand strategy development methodolo- Share Estimation) operations and production control systems. gies and tools and discussions pertaining to • Systems of Equations Estimation (Market Quantitative models and case studies apply the course project. Multiple team meetings Equilibrium Models) these skills to service process management, with the client firm outside of the scheduled • Models for Binary and Ordered Responses manufacturing, inventory control, supply chain class times are required. Grading is based on (Scale Responses) management and project management. The peer, professor and client evaluations of team • Multinomial Discrete Choice Models course highlights the role of effective opera- success. (Consumer and Brand Choice) tions management in the strategic direction of • Other Limited Dependent Variable Models the firm as well as the connections between Prerequisite: MKT 402 including Count, Censored and Duration operations and other functional areas. models. (Interpurchase time, Selectivity etc.) MKT 449. Global Marketing Strategy • Multivariate Methods (Factor Analysis, Prerequisites: CIS 401, GBA 411 and GBA This course will develop the concepts of mar- Cluster Analysis etc.) 412 keting strategy in the context of the resource- This course is not for everyone and requires based view of the firm and the market focus some proficiency in (or aptitude for) math/ OMG 411. Supply Chain Management view of the firm. Marketing strategy formula- statistics and programming. There is also a This course gives an overview of supply chain tion and implementation will be related to limit (15) on the number of M.B.A. students management in a wide variety of industries strategies at the corporate and business unit who can register for this class. such as: groceries, style goods, consumer level as well as other functional areas of the electronics and services. The impact of shifts organization. The analytical tools and con- Ph.D. Courses from traditional channels to e-commerce will cepts for strategic analysis will be developed be emphasized. New initiatives introduced from basic economic principles. Core M.B.A. MKT 501. Workshop in Marketing to address these new challenges, such as subject matter will be integrated in the course Non-credit vendor managed inventory (VMI), variety as a part of the analysis and construction of postponement, cross docking, real options a marketing strategy. The course examines This workshop provides a forum for the pre- contracts and quick response, will be studied the importance of bilateral information flows sentation of ongoing and completed research and applied both in class and assignments. between the firm and the marketplace in by students, faculty and visiting scholars. Ph.D. Supporting software, such as Enterprise defining new product requirements, changing students are expected to participate actively. Resource Planning (ERP) and supply chain competitive conditions, product advertising, Prerequisite: permission of the instructor tools, will also be discussed. After completing and strategic commitment. this course, the student should be able to char- The course consists of lectures and class- acterize the supply chain issues in an industry/ room discussion of contemporary cases in MKT 511. Advanced Topics in Marketing I firm, and evaluate current practice as well as services and tangible products. The case identify improvement opportunities. discussions will illustrate how the entire orga- This course is the first leg of a two-part nization is affected by strategic marketing sequence that prepares Ph.D. students for Prerequisite: OMG 402 decisions. The definition of new core capabili- research in marketing. The presentation of ties and the use of existing unique resources topics between the two parts may vary from OMG 412. Service Management in creating competitive advantage will be year to year, but typically, the first part dis- explored. Special emphasis will be given to the cusses theoretical and empirical issues in Success of service management critically impact of globalization and technology on the consumer behavior, product planning and depends on managing the integration of busi- formulation and implementation of marketing advertising. The aim is to survey the literature, ness processes with customers as well as all strategy. assess progress and identify opportunities for related support systems (technology, human future research. resources, information flow). This integra- Prerequisite: MKT 402 tion presents a challenge to service managers Prerequisite: permission of the instructor who need to address significant variation in MKT 451. Computation and Analysis customer expectations and requirements while MKT 512. Advanced Topics in of Advanced Quantitative Marketing controlling costs and remaining competitive. Marketing II Models This course provides a foundation for the In this second part of a two-part sequence The course is primarily designed for students analysis and improvement of businesses, pay- that prepares Ph.D. students for research in (both M.B.A. and Ph.D.) who have a quantita- ing particular attention to the service sector. marketing, topics such as product strategy, tive inclination towards marketing and strategy The type of analysis learned in this course is pricing and distribution channels are discussed but will also be useful for students in other required in virtually every industry as com- in a format similar to MKT 511. areas looking to hone their quantitative skills. panies work to improve their bottom-line performance. The best way to improve perfor- The course will guide students through various Prerequisite: permission of the instructor aspects of data related issues, problem fram- mance is through a holistic approach, where the structure of processes, information and ing, programming and computational analysis ■ and the communication and presentation of Operations Management technological requirements, and the manage- managerially relevant findings. The course Abraham Seidmann, Area Coordinator rial implications, are considered concurrently. relies heavily on using SAS® as a computa- The methodologies developed in this course tional engine and MS® EXCEL® as a presen- Master’s-Level Courses will provide a framework for analysis that will tation and simulation device. All instruction is remain constant amid the many different types “hands-on” and students should expect to be OMG 402. Operations Management of services analyzed. Please note that this proficient in SAS® by the end of the quarter. Operations Management introduces the course is case intensive. The course will have some assignments and a concepts and skills needed to design, man- Prerequisite: OMG 402 “real-world” consulting project. age and improve service and manufacturing Students will be exposed to the theoretical operations. The course develops a managerial underpinnings and practical applications of perspective of the operations function and an OMG 413. International various analytical and econometric models. appreciation of the role that operations plays Manufacturing and Service Strategy These include, but are not limited to: in creating and maintaining a firm’s competi- Operations strategy describes how a firm’s tive edge. The course introduces process anal- long-term operations decisions affect its abil-

49 Simon Graduate School of Business Information Guide 2010–2012 ity to compete. Areas of critical importance New technology, changing reimbursement Diagnostic tools and data gathering tech- to firms often include: location and distribu- mechanisms, and increased competition create niques (e.g., questionnaires and interviews) tion policy; management and global networks; many interesting management problems, not will be presented. Frameworks for problem outsourcing and vertical integration decisions; in the least in the area of health care opera- solving, and communicating recommenda- coordination of operations with other functions. In this course, we will study the operations will also be introduced. tions such as finance; accounting and finance; tions of various types of health care provider The course examines a wide range of technology acquisition; and new product organizations (such as hospitals, HMO’s, modern global business challenges and oppor- development. Special emphasis is placed on group practices, nursing homes, etc.) and other tunities from both the consultant's and the the impact of international issues on opera- participants in the industry (such as insurance manager's perspectives and provides a learning tions strategy. A variety of cases is used to companies, pharmaceutical companies, sup- platform to integrate and practice the skills demonstrate applications. pliers and consulting companies). Topics that and knowledge learned. will be studied include: patient and provider Prerequisite: OMG 402 scheduling, capacity management, providing services and supplies to health care provid- Ph.D. Courses OMG 415. Process Improvement ers, new product development and integrated This course will teach a systematic method delivery systems. OMG 501, 502, 503, 521, 522, for understanding and improving ongoing 523. Ph.D. Seminars in Operations business processes. The techniques you learn Prerequisite: OMG 402 or an equivalent Management in this class provide a systematic method of These six Ph.D. seminars are offered in the asking questions, collecting data, and analyzing OMG 460. Special Topics in fall, winter and spring quarters, with major that data to learn how processes work (or are Operations Management topics such as the following: distribution/ failing) and what can be changed to improve This course provides a critical study of select- inventory theory; flexible-manufacturing sys- them. The statistical techniques you will learn ed topics in operations management focusing tems; (production) batching, scheduling and are SPC (Statistical Process Control, used as on best practice and the status of research sequencing; reliability/maintenance manage- a proactive tool for investigation rather than efforts to date. Potential topics are: yield man- ment; design/strategy; routing/vehicle sched- its traditional role as a reactive tool), MSA agement, operations and information man- uling; quality; production-control systems; and (Measurement Systems Analysis, for determin- agement issues in retail fashion and media, planning models. Topics for the joint CIS/ ing if your measurement system is capable), transportation management, or customers' OMG seminars include: computer-integrated FMEA (Failure Modes and Effects Analysis), relationship management. manufacturing, network-based industries, and DOE (Design of Experiments). In addi- performance evaluation of dynamic systems, Prerequisite: OMG 402 tion to these analysis tools, there will be a business expert systems and artificial intel- strong emphasis on the process of data acqui- ligence. sition. To support the process of acquiring the OMG 461. Strategy and Business right data and learning the analysis tools, you Systems Consulting Practicum will do a small outside project for the class and (Same as CIS 461) OMG 531. Analysis of Production a series of in-class simulations. You will learn Systems to use two additional tools that support the This course provides M.B.A. students with an The course introduces the theory of produc- questioning that leads to good data acquisi- introduction to strategy and business systems tion and inventory systems, and discusses tion: process mapping (of the process you will consulting. It is aimed at students who wish to mathematical models used in designing and be improving) and thought process mapping explore career opportunities within the major managing real-world systems. Topics include: (of the process you use to solve the client’s consulting firms, but is also relevant for stu- aggregate production planning, static and problem). dents considering a career as an independent dynamic approaches to operations scheduling, consultant, or within a corporation's internal inventory control with known and uncertain Prerequisite: OMG 402 consulting group. The course focuses on three demand, flexible and high-volume manu- areas: facturing systems, hierarchical production OMG 416. Project Management • The Consulting Industry: Students will examine planning systems and manufacturing resource several types of consulting (e.g., strategic, planning. The topics treated in this course span a wide operations, systems, human resource and spectrum of issues, concepts, systems and marketing) and understand where the major techniques for managing projects effectively consulting firms position themselves. The in today’s complex business environment. career paths for M.B.A.'s entering the indus- Students are led through a complete project try, and the skills and values necessary for life cycle, from requirements analysis and proj- success as a consultant will be scrutinized. ect definition to start-up, reviews, and phase- • The Business Systems Consulting Process: The out. Important techniques for controlling creation of proposals, the winning of con- project costs, schedules, and performance are sulting engagements, and the preparation studied. The course employs a combination of contracts will be discussed. The typical of lectures, case analyses, business/project stages of a business systems consulting simulations, videos, Internet resources, and engagement (e.g., problem framing, analysis group discussions to develop the conceptual design, gathering data, interpreting results, understanding and operational skills needed architectural solution, and presentation of for effective managerial role performance. recommendations) and managing different Prerequisite: OMG 402 sorts of consulting projects (e.g., operational improvement, supply-chain optimization, quality improvement, strategy formulation, OMG 437. Managing Health Care and organization design) will be examined. Operations •Consulting Skills: The role of the consultant (Same as HSM 437) and the human dimension will be discussed The health care industry is undergoing rapid (e.g., personal attributes of consultants, growth as well as rapid structural changes. relationship building, and team building).

50 Simon Graduate School of Business Information Guide 2010–2012

INTERNATIONAL EXCHANGE PROGRAMS

Business School University Location Program Objective Special Emphasis Language

ARGENTINA Universidad del Buenos Aires, International business with pro- Entrepreneurship, strategic planning, financial Primarily Spanish, Centro de Estudios CEMA Argentina grams in firm management and analysis, finance, macroeconomics, interna- some English Macroeconomicos banking tional banking de Argentina

AUSTRALIA University of Sydney, International scope; strong focus Policy analysis and public-sector manage English Australian Graduate Sydney and Australia on financial management and logi- ment; interdisciplinary approach combines School of University of cal decision making economics, quantitative methods, politics and Management New South Wales management

BELGIUM Katholicke Leuven, Stresses analytical techniques and An analytical and often quantitative approach English Vlerick Leuven Universiteit Belgium rigor in management. In-depth to the study of managerial problems; learning Gent Manage Leuven understanding of concepts and principles of problem solving which lead to ment School techniques necessary in modern effective decision making management

FINLAND Helsinki, International business Intensive modules of study concentrated over English Helsinki School Finland three weeks of Economics and Business Administration

GERMANY WHU— Vallendar, Business administration, policy, Accredited to award the Diplom-Kaufmann, Primarily German, Otto Beisheim University of Germany strategic and situational manage- the Habilitation and the doctoral degree, some English Graduate School Koblenz ment Dr.rer.pol. of Management

Hong Kong Hong Kong Kowloon, To cultivate students able to handle Expertise in China business, electronic com- English School of Business University of Hong Kong the challenges and opportunities merce, information technology management and Management Science and presented by the continuing glo- and financial services Technology balization and development in the Asia-Pacific region

JAPAN International Niigata, To prepare specialists with a Invites foreign scholars as professors and English Graduate School University of Japan broad international outlook and lecturers of International Japan an understanding of manage- Management ment practices in international cultures

NORWAY Sandvika, Functional business, Subspecialization in environmental management English Norwegian School Norway economics, international of Management BI strategy, Euro-management

Admissions and Financial Aid

The Simon School encourages applications tive, the nature and scope of prior work expe- cessfully by students without prior business from men and women with diverse educa- rience, teamwork and communication skills, coursework. However, for applicants planning tional, professional, cultural and geographic undergraduate grade-point average, G.M.A.T. to take additional courses prior to entering backgrounds. This rich mix of educational score, recommendations and the applicant’s the Simon School, economics, accounting and backgrounds and experiences greatly enhances career focus. The applicant is encouraged to statistics are recommended. An elementary classroom interaction and social life at the prepare a careful and thoughtful application. knowledge of calculus is required. School. Preparation for Graduate Studies Full-Time M.B.A. Entrance Dates: Criteria for Selection Applicants from all undergraduate majors Admission to the Simon School is very com- September and January are considered for admission to the M.B.A. The Simon School admits full-time students petitive. The selection process emphasizes program. M.S. study in some areas may have at two times during the academic year to evaluating the applicant as an individual and specific course or major prerequisites. Check accommodate individual scheduling needs. determining potential contributions to the our Web site at www.simon.rochester.edu for Two-thirds of the full-time graduating class School and to the world’s business community. details. Undergraduate backgrounds of current start in September; the remaining third starts The Admissions Committee looks carefully students are distributed evenly across business, in January. for predictors of success in both the academic engineering/math/ sciences, economics, and September cohorts complete the first year setting and the business world. In selecting other social sciences and the humanities. The during the fall, winter and spring quarters. students, the committee considers the follow- curriculum is designed to be managed suc- The January cohort completes the first two ing criteria: evidence of leadership and initia- 51 Simon Graduate School of Business Information Guide 2010–2012 terms of the core curriculum in the winter in a structured program of two evening to visit on Friday, provided that sufficient and spring quarters. January entrance is usu- classes per quarter. Thereafter, each individual notice is given for this preference. Scheduling ally appealing to individuals who 1) are not selects 11 required electives to complete his priority is given to those candidates who have interested in completing a summer intern- or her desired concentration(s). Continuing already submitted an application to the Simon ship, 2) wish to accumulate more resources at two classes per quarter, cohort members School and who have been invited to inter- for graduate school, 3) must remain at their typically completed their degrees in 2.5 years. view by the Admissions Committee. However, jobs longer than expected, 4) are sponsored Need- and merit-based scholarships are avail- the Office of Admissions will consider all re by their employ ers or 5) wish to accelerate the able for the PMBA program. quests to visit, provided a current résumé and process of earning an M.B.A. degree. Students G.M.A.T./T.O.E.F.L. scores are submitted at complete the program in 15 to 18 months, but Application Procedures the time of the request. degree requirements and the length of courses Applications must be complete before being are the same as for fall entrants. considered by the Admissions Committee. International Students A complete application consists of the fol- The interactive M.B.A. and M.S. programs in Part-Time Flexible M.B.A. and M.S. lowing: Rochester rely on the breadth of experience of its students. The international student pop- Program Entrance Dates • the online application form, including essay; The criteria for admission are the same for ulation adds an especially valuable dimension • an uploaded, scanned official transcript from full-time and part-time M.B.A. and M.S. stu- to discussions on current business practices in each college attended (undergraduate and dents. Applicants to the Part-Time Flexible a global marketplace. Applicants from outside graduate); M.B.A./M.S. Program may matriculate in any the U.S. are expected to be comfortable with quarter and application instructions and dead- • at least one and no more than two online conversational English since active participa- lines can be found on the Simon Web site. letters of recommendation; tion both in and out of the classroom is integ Part-time M.B.A. students may take up to • a non-refundable application fee; ral to success at the Simon School. four courses before matriculating. Course • a current résumé; Transfer Credit options are: STR 401 (Managerial Economics), • Uploaded scanned official scores reported Students may petition to receive transfer credit GBA 411 (Framing and Analyzing Business from the Graduate Management Admission for graduate courses taken at other universities Problems 1), and any two (2) of the following Test (G.M.A.T.) or Graduate Record Exam within five years of the date of Simon School area-specific core classes: ACC 401 (Corporate (G.R.E.) (M.S. students only); Financial Accounting), CIS 401 (Information matriculation. A maximum of three courses • Uploaded scanned Test of English as a Systems for Management), FIN 402 (Capital (nine credit hours) may be transferred to the Foreign Language (T.O.E.F.L.) for inter- Budgeting and Corporate Objectives), MKT Simon School M.B.A. program. A maximum national applicants who are non-native 402 (Marketing Management) and OMG 402 of two courses (six credit hours) may be trans- English speakers (see details in the Online (Operations Management). ferred to an M.S. program. Students taking Application available through our Web site) Grades received in non-matriculated cours- approved courses for transfer credit to the es automatically become part of the applica- M.B.A. or M.S. applicants are expected to Simon School must earn a grade of B or bet- tion for students who plan to matriculate apply online through our Web site at www. ter in those courses. Requests for transfer of in the part-time program. Part-time M.B.A. simon.rochester.edu. Additional details on the course credit are made by submitting a peti- students who complete the first four courses admissions process and requirements are avail- tion for transfer credit to the associate dean with a cumulative grade-point average of able by reviewing the application. for M.B.A. programs. Only petitions from stu- 3.2 or higher will not be required to take the dents already matriculated into a program will Graduate Management Admission Test. Interviews be considered. Course descriptions and syllabi The non-matriculated start option is not The Admissions Committee may request should accompany the request. available for the part-time M.S. program. an interview with prospective candidates. Because of the integrated nature of the The Office of Admissions offers day and Applicants selected for an interview will be cohort system, no transfer credit is granted for evening appointments for part-time applicants notified by the Office of Admissions after a core courses for full-time students. Part-time desiring admissions counseling. Quarterly preliminary review of his or her application. students, however, may petition for the trans- evening information sessions are offered to The interview is regarded as an important fer of core courses. Grades for transferred provide prospective students with additional two-way communication channel for both courses are not calculated into a student’s information about the School. Please refer to the School and the applicant. U.S.-based cumulative G.P.A. There is a $600 course- our Web site for upcoming events. candidates are expected to visit campus for transfer fee for each course taken outside the All part-time students must complete their interviews. A telephone interview with University of Rochester and transferred for an orientation/registration session prior to a member of the Simon School Admissions credit to the Simon School. An official tran- beginning classes at the Simon School. We Committee is available for candidates outside script is required for credit to be awarded. offer one evening session prior to the start of of North America. each quarter. The orientation provides details Expenses on Simon and University of Rochester student Campus Visits The tuition for the 2010–2011 academic year services, and the transition into the business Prospective M.B.A. and M.S. students are is $1,434 per credit hour. The average tuition school, while also allowing the student to strongly encouraged to visit the Simon School. for a full-time M.B.A. student is $43,737 per complete course registration. Please check our First- and second-year students volunteer as year. For first-year M.B.A. students, who Web site at www.simon.rochester.edu/ptevents Simon Ambassadors to conduct individual generally take 11 courses, tuition is $48,756. for details on upcoming part-time registration tours of Schlegel and Gleason Halls and the For second-year M.B.A. students, who gener- sessions. University of Rochester campus. They also ally take nine courses, tuition is $38,718. M.S. escort visitors to classes, treat them to lunch students pay $1,434 per credit hour. There is Simon Accelerated Professional M.B.A. and provide information about the Simon no charge for the credits associated with labs (PMBA) experience from a student perspective. Visits for matriculated students, and there is one The Simon Accelerated Professional M.B.A. usually include an interview with a member course credit charged for the Management (PMBA) is designed for working profession- of the Admissions staff. To make the most Communication sequence. All students are als who seek to maximize their learning at an of your visit, it is recommended that visits be charged tuition by the credit hour. accelerated pace. The PMBA is a partial lock- scheduled between Monday and Thursday, All full-time graduate students pay an annu- step, class cohort system in which teams of when classes are in session. We will make an al health fee of approximately $1,500. This students take their nine core courses together attempt to accommodate those who request covers use of the University Health Service

52 Simon Graduate School of Business Information Guide 2010–2012 and provides medical insurance coverage for Loan Programs the student. The health fee is reduced if the The University of Rochester administers the student has medical insurance coverage from full range of federal and private financial aid another source. Medical insurance for stu- programs. International students may borrow, dents’ families is also available. provided they have a co-signer who is a citizen Part-time students may opt to take advan- or permanent resident of the United States.* tage of the Employer-Sponsored Payment To apply for student loans, students should Plan (ESP Plan). Through this plan, employer- submit a Free Application for Federal Student sponsored matriculated students may defer Aid (F.A.F.S.A.). To receive a timely response, payment of tuition until the 10th day of the a completed F.A.F.S.A. should be on file in the month immediately following the end of the University of Rochester Financial Aid Office quarter. at least 12 weeks prior to the start of the quarter in which a student intends to enroll. Student Ownership of Laptop The University of Rochester requires parental Computers (Required) information of dependent students only. It is required that students acquire a laptop For further information on student loans, computer to support their class and course please contact: work. It is the responsibility of each student to acquire one; the School will not supply University Financial Aid Office equipment to students. Box 270261 Students who purchase computers may University of Rochester include the cost when calculating their eligibil- Rochester, N.Y. 14627-0261 ity for loan programs. (585) 275-3226 When considering the purchase of a laptop (800) 881-8234 (toll free within the U.S.) computer, Dell is the preferred brand. Simon School IT staff members have in-depth expe- International Financial Aid rience with Dell models, features and trouble- Opportunities shooting. Most laptops manufactured today The organizations listed below offer financial have the basic requirements (network cable assistance to international students. connection, high speed processor, wireless B/G adapter, Microsoft operating system), American Association of University Women but purchasers should consider investing in at (AAUW) International Fellowships least 2 GB of memory/RAM (more if budget AAUW Educational Foundation allows). Investments in additional features 1111 Sixteenth Street, NW are at the purchaser’s budgetary discretion. Washington, D.C. 20036 Students are free to choose equipment that (800) 326-2289 meets their individual needs and budgets, but (202) 785-7700 must bear in mind that the further they devi- www.aauw.org ate from the recommendation, the more likely they are to face difficulties. Mac/Apple com- Edmund S. Muskie/FSA Graduate Fellowship puters must have Parallels software installed American Councils ACTR/ACCELS since most class-specific software only runs on 1776 Massachusetts Avenue, NW, the Windows platform. Suite 700 Washington, D.C. 20036 Merit-Based Financial Aid Contact: Andrew Segars The Simon School assists qualified full-time (202) 833-7522 students in financing their management educa- www.actr.org or www.americancouncils.org tion and has been relatively generous in awarding merit-based scholarships to those who Institute of International Education show promise of achieving excellence at the 809 United Nations Plaza School and in their careers. In awarding merit- New York, N.Y. 10017-3580 based aid, primary emphasis is given to aca- (212) 883-8200 demic excellence, professional development www.iie.org and demonstrated qualities of leadership. These awards are renewed in the second The Rotary Foundation year, provided first-year academic perform Ambassadorial Scholarship ance has been satisfactory. Consideration for Rotary International Simon School merit-based financial aid does One Rotary Center not require a separate application. 1560 Sherman Avenue Financial aid for international students is Evanston, Ill. 60201 available, but limited, and such candidates (847) 866-3000 must consider the costs of financing a two- www.rotary.org year academic program in the United States. Contact: [email protected] International students are also encouraged to investigate funding sources in their home countries as early as possible. *For international students, the School offers a no-cosigner loan option that can help cover required tuition and mandatory fees.

53 Simon Graduate School of Business Information Guide 2010–2012

STUDENT SERVICES

Athletic Facilities For more information, call dining services ID Cards Simon students have access to University at (585) 275-0171, or visit our Web site at University of Rochester ID cards are required facilities such as the Robert B. Goergen www.rochester.edu/studentlife/dining.html. to obtain after-hours access to Schlegel and Athletic Center, which is well equipped for a Gleason Halls. ID cards are also required wide variety of individual and group athletic Health Services to use the library and sports complex. For activities. In addition to multipurpose areas for The University Health Service (UHS) provides information, contact the River Campus volleyball, basketball and exercise, the facilities a comprehensive, prepaid health care program Identification Card Office, located in the include indoor and outdoor tennis courts, a for all full-time graduate students. Students Susan B. Anthony Residence Hall, at (585) modern 25-meter pool with a separate diving pay a mandatory health fee that entitles them 275-3975, or visit our Web site at www.roches- area, and a Cybex fitness center. A compre- to use the University Health Service through- ter.edu/living/services/onecard/ID1.htm. hensive intramural athletic program is also out the academic year and the following sum- open to Simon School students. mer, as long as they are enrolled on a full-time Immunizations basis. The health plan offers students a wide All entering matriculated full-time and part- Barnes and Noble Bookstore variety of high quality, affordable and acces- time students must submit a University Health The Barnes and Noble Bookstore on the sible health care services. UHS staff supports History Form that includes immunization University of Rochester River Campus is preventive medicine and encourages students information. Under New York State law, stu- located in the Frederick Douglass Building to take an active role in their health care. All dents who do not show proof of immunity across from the Goergen Athletic Center and full-time students must have health insurance. to measles, mumps and rubella before classes next door to Wilson Commons, the student An Excellus Blue Cross/Blue Shield insur- begin will not be allowed to attend the Simon center. ance plan is available for individual students School. All textbooks for Simon School courses through UHS. Students with equivalent insur- are available. In addition to course materials, ance can waive the Excellus Blue Cross/Blue Interfaith Chapel the store also carries an assortment of Simon Shield insurance. A family insurance plan is As the center for spiritual life on the River School merchandise and apparel. available for students who want coverage for Campus, the Interfaith Chapel offers gradu- For information, call (585) 275-4012, or themselves and their dependent children. ate students opportunities for worship, visit the Web site at www.urochester.bncollege. For more information, call (585) 275-2662, meditation, social service, and cultural and com. or visit www.rochester.edu/uhs/. social events. Roman Catholic, Protestant, Visit the Simon School’s online “Virtual Muslim and Jewish clergy are available for Store” and find a number of branded Simon Housing personal counseling. In addition, there are products to choose from. From the Simon The University owns several housing facilities resource staff members available to assist School home page at www.simon.rochester. specially reserved for graduate students. These students from the Buddhist, Jain, Hindu, Sikh, edu, select “About Simon” for the current link include: Universalist Unitarian and Latter-Day Saints to the Virtual Store site. • furnished or unfurnished one- and two-bed- traditions. room apartments in Goler House; Dining Services • unfurnished studios with kitchenettes, Many dining options are available on the and one- and two-bedroom apartments at University’s River Campus. Meals may be pur- University Park; chased with cash or a prepaid dining plan. • unfurnished two-bedroom garden apart- Espresso, cappuccino, sushi, sandwiches, ments and two- and three-bedroom town- soup, salads and baked goods are available at houses surrounded by woods at Whipple Schlegel Hall’s coffee counter. Park, perfect for families; The Douglass and Danforth Dining • unfurnished two-bedroom bungalows Centers each serve a wide variety of foods for across from University Park; breakfast, lunch and dinner. Kosher meals are • furnished suites at University Towne House, also offered daily. a short walk to campus; Food options available at the serving sta- • and a community-living facility that houses tions in The Commons, which has been 40 single graduate students at the River recently renovated in Wilson Commons, Road Residence. include: Starbucks, Pizzi Pi, Blimpie, The All University apartments have reserved Common Grill, A New Leaf, Kettle Classics, off-street parking and are served by frequent Zoca (Mexican) and Panda Express (Chinese). runs of the University shuttle bus. Pura Vida, located on the ground floor Eligibility for housing is contingent on cur- of Robert B. Goergen Hall for Biomedical rent enrollment status, and all applicants must Engineering and Optics, specializes in serving be registered as full-time graduate students only 100 percent organic, Fair Trade, shade- of the Simon School. Because applications grown coffee. In addition to freshly brewed for housing always exceed available facilities, Pura Vida coffee, one can choose from a vari- a lottery system, usually held in early May, ety of baked goods and grab-and-go options. is used to establish priority among qualified The Corner Store, located in the Frederick applicants. Graduate students from outside the Douglass Building, provides a selection of Rochester area are advised to make specific snacks, beverages, grocery items, fresh pro- housing arrangements in advance of coming. duce and kosher selections. For more information, call (585) 275-3166, A coffee cart is provided in Hutchison Hall or visit our Web site at www.rochester.edu/ during the weekday lunch period. reslife/graduate/index.html. Sophisticated fine dining in the Meliora is open to the community weekdays for lunch and Friday night dinner. Private dining rooms and catered cuisine are also available.

54 Simon Graduate School of Business Information Guide 2010–2012

2010–2012 SIMON MANAGEMENT PROGRAMS INFORMATION GUIDE

The information contained in the 2010–2012 diversity (see www. rochester.edu/diversity) Campus Crime Statistics Simon Management Programs Information Guide is and is committed to equal opportunity for all The Advisory Committee on Campus Safety current as of September 21, 2010. persons regardless of age, color, disability, eth- will provide upon request all campus crime Provisions of this publication are not nicity, marital status, national origin, race, reli- statistics as reported to the United States to be regarded as an irrevocable contract gion, sex, sexual orientation or veteran status. Department of Education (U.S.D.O.E.). The between the student and the William E. Simon Further, the University complies with all appli- statistics are available on the U.S.D.O.E.’s Web Graduate School of Business Admin istration. cable nondiscrimination laws in the adminis- site (http://ope.ed.gov/security/) and on the The Simon School reserves the right to make tration of its policies, programs and activities. University’s site at (http://www.security.roch- changes in its course offerings, degree require- Questions on compliance should be directed ester.edu/). You can also obtain a hard copy ments, regulations and procedures, and fees to the particular school and department of the report, titled Think Safe, by contacting and expenses as educational and financial con- and/or to the University’s Equal Opportunity University Security Services at (585) 275-3340. siderations require. Coordinator, University of Rochester, Box The Simon School encourages the applica- 270501, Rochester, N.Y. 14627-0501. Phone: tion of all qualified persons interested in the (585) 275-4321. study of management at the master’s and doctoral levels. The University of Rochester values

55 Simon Graduate School of Business Information Guide 2010–2012

NOTES

56 Simon Graduate School of Business Information Guide 2010–2012

NOTES Simon Graduate School of Business Information Guide 2010–2012

CONTACT INFORMATION

Admissions Financial Aid Office Ph.D. Program (M.B.A. and M.S. Programs) Phone: (585) 275-3226, (800) 881-8234 Phone: (585) 275-2959 Phone: (585) 275-3533 Fax: (585) 756-7664 Fax: (585) 276-1965 Fax: (585) 271-3907 E-mail: [email protected] E-mail: [email protected] E-mail: [email protected] Information Technologies Registrar’s Office Advancement Phone: (585) 275-4409 Phone: (585) 275-3580 Phone: (585) 275-7563 Fax: (585) 271-8752 Fax: (585) 271-3907 Fax: (585) 756-8053 E-mail: [email protected] E-mail: [email protected] E-mail: [email protected] Marketing and Communications Student Services Career Management Center Phone: (585) 275-3736 Phone: (585) 275-8163 Phone: (585) 275-4881 Fax: (585) 275-9331 Fax: (585) 271-3907 Fax: (585) 473-9604 E-mail: [email protected] E-mail: [email protected] E-mail: [email protected] Off-Campus Living University Apartments Office Executive M.B.A. Programs Information Center Phone: (585) 275-5824 Phone: (585) 275-3439 Phone: (585) 275-1081 Fax: (585) 244-3612 E-mail: [email protected]

SMC 10-11-1