Because it’s time to go from good to great. it’s to good from go time Because SUBJECT TO CHANGE AS OFMARCH 2015 2014-2015 course catalog mba and ms programs Simon Business School Course Catalog 2014-2015

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Information in this publication is current as of March 2015 and is subject to change.

COURSE CATALOG Academic Year 2014–2015

Table of Contents Campus and Area Maps...... 2 Administration...... 4 Full-Time Faculty...... 5 Adjunct Faculty...... 16 MBA Requirements and Core-Course Sequences...... 21 Part-Time MBA Programs (PMBA and Flex) ...... 23 Concentrations—MBA ...... 25 Master of Science Programs...... 30 Joint- and Specialized-Degree Programs...... 40 Courses...... 41 International Exchange Programs...... 66 Admissions and Financial Aid...... 67 Student Services ...... 65 University of Rochester Equal Opportunity Statement and Contact Information...... 69

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the administration Andrew Ainslie program and the Technical Entrepreneurship Limit Order Market,” which appeared in the Dean and Professor of Marketing and Management (TEAM) MS program. He is Journal of Finance, was nominated for the jour- As dean of Simon Business School, Andrew responsible for Simon’s international program nal’s Smith-Breeden Prize and won the NYSE Ainslie will lead efforts to differentiate and development and serves as area coordinator award for the best paper on equity trading at strengthen the School’s curriculum, attract and for the concentrations of Business Environment the 2004 Western Finance Association Meeting. retain faculty of the highest caliber, improve and Public Policy and International Manage- Before joining the Simon School in 2012, the student experience, and develop strong ment. Goettler was an assistant professor of market- relationships with alumni and the business He became director of the Systems Analysis ing at the University of Chicago. community. Program in 1972, and from 1977 to 1986 he Goettler received his BA in economics from Before joining Simon, he served as senior asso- was the associate director of the Center for Miami University, and his PhD also in econom- ciate dean for the full-time MBA program at the Research in Government Policy and Business, ics from Yale University. UCLA Anderson School of Management from now the Bradley Policy Research Center. He 2010 to 2014. While at UCLA, Ainslie’s respon- briefly left the Simon School to become the first sibilities included admissions, student services, recipient of the Merrell Dow Pro­fes­sorship of DAVID TILSON and career placement. In the four years Ainslie Pharmaceutical Administra­tion in the College of Associate Dean of the Full-Time MBA was at Anderson, the school increased its Pharmacy at The Ohio State University (1986– Program; Clinical Associate Professor of admissions more than 60 percent, increased 88). Prior to his current Simon School appoint- Computers and Information Systems ment, he served as senior associate dean for placements more than 20 percent, and revised Professor Tilson’s research explores technical faculty and research for 21 years. its curriculum to better meet the demands of standards and mobile computing as well as the market and the needs of the students. Hansen is widely recognized for his scholarly digital platforms and infrastructure. In another In addition to his duties as Anderson’s senior research in drug-development policy and in research stream he strives to improve oper- associate dean, Ainslie was associate professor the regulation of the pharmaceutical industry. ational efficiency in Health Care settings. His of marketing at UCLA Anderson, and previously He helped to es­tablish and collaborates on teaching interests include strategic and busi- was assistant professor of marketing from research with the Tufts Center for the Study ness systems consulting, information systems, 2000 to 2005. Prior to his time at Anderson, of Drug De­velopment. Hansen was on the and business statistics. He has led and men- Ainslie was assistant professor of marketing at editorial board of the Journal of Research in tored dozens of student teams consulting with Cornell University’s Johnson Graduate School Phar­maceutical Economics. He was a member local businesses of all sizes. He teaches in the of Management From 1997 through 2000. of the National Advisory Council on Health Care Simon Executive MBA program and has taught Technology As­sessment (1985–88) and the customized executive courses on teamwork Dean Ainslie’s major research interests are in Committee on the Children’s Vaccine Initiative, and project management. His industry experi- economic and statistical models of consumer In­stitute of Medicine, National Academy of ence includes three years in strategy consult- behavior and in direct marketing. In particular, Sciences (1992–93). ing, mostly with McKinsey & Company, along he is focused on developing variance compo- with a decade in R&D and project management nents models for a variety of environments. Hansen earned a BA degree in mathe­matics from Northwestern University, and an MA in the telecom, high-tech and media industries. Topics he has investigated include: new prod- He has consulted for clients in financial ser- ucts and movie diffusion, model performance, degree in economics and a PhD in economics from the University of Chicago. vices, insurance, telecom, software and energy. and consumer behavior uncovered through His track record of accomplishments includes choice modeling. Most recently, he is studying a Royal Television Society (British equivalent the effect of store characteristics on consumer to an Emmy) for broadcast technology. Having purchasing behavior. RON GOETTLER Senior Associate Dean for Faculty lived and worked on three continents gives him Ainslie received a BSc in electrical engineering and Research; James N. Doyle Sr. an understanding of business and collaboration from the University of Cape Town and an MBA Professor of Entrepreneurship; in an international context. in marketing from Cape Town. He received a Professor of Economics, Marketing, and PhD in marketing and statistics from Chicago Entrepreneurship BEng, Electrical and Electronic Engineering, Booth. Queen’s University of Belfast (UK) Professor Goettler’s research spans quanti- MSc, Telecommunications Engineering, tative marketing, industrial organization, and University of London (UK) Ronald W. Hansen finance, with an emphasis on structural econo- MBA, Information Systems and Senior Associate Dean for Program metric methods to understand consumer and Entrepreneurship, University of Texas at Austin Development; William H. Meckling firm behavior. He is particularly interested in PhD, Information Systems, Case Western Professor of Business Administration; high-tech industries, focusing on the relation- Reserve University Director of the Bradley Policy Research ship between competition and innovation and Center on the marketing of new products. Dean Hansen oversees the Executive and Goettler’s research has been published in var- Part-time programs, the School’s Marketing ious academic journals including the Journal and Communications area, and leads Simon’s of Political Economy, the RAND Journal of involvement in the undergraduate business Economics, and the Journal of Marketing Research. His paper, “Equilibrium in a Dynamic

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the FACULTY Guy Arie and the Journal of Corporate Finance. The a tenured faculty member at the University of Assistant Professor of Business fifth edition of Managerial Economics and Southern California (USC) Marshall School of Administration Organizational Architecture (authored by Business and the director of the Casden Real Brickley, Clifford W. Smith Jr. and Jerold L. Estate Forecast at the USC Lusk Center for Real Professor Arie’s research interests include the Zimmerman) was published by McGrawHill/ Estate. While teach­ing statistics in the MBA study of employee incentives, strategic compe- Irwin in 2009. The sixth edition is scheduled for Core, she received USC’s highest teaching tition between firms, and the design of employ- 2015. Brickley, Smith, Zimmerman and Janice honor, the University Associates Award for ee roles in firms. Willett authored a trade version of this text enti- Teaching Excellence, which is awarded each His current research focuses on the internal tled Designing Organizations to Create Value, year to only two of the university’s faculty. design of firms and employee incentives when published by McGraw-Hill in 2003. Brickley has Before her USC appointment, she served on the employee’s task becomes harder with served as an associate editor of finance and the faculty of the Booth School of Business at effort. accounting journals. Several studies report that the University of Chicago. She is an elected fel- He is investigating how these ideas can help Brickley is among the most cited researchers low of the American Statistical Association and software producers improve the productivity in the areas of Corporate Governance and a former chair of the Business and Economics and profitability of software testing. Another Finance. In 2002, three of his published papers Statistics Section. She has also served on the application of this research is the design and received the Journal of Financial Economics All editorial boards of major academic journals compensation of sales forces. Star Paper Award (based on number of citations including the Journal of the American Statistical through 2001). Association. Arie’s research on strategic competition between firms focuses on firms that operate From 1989 to 1991, he was chairman of the In addition to her research in statistics and in many markets. His research explains how finance department and research director financial modeling, she is widely respected for larger firms’ airlines can appear to be colluding at the University of Utah’s Garn Institute of her research reports on the commercial and while actually competing. The research also Finance. Prior to his position at the University residential real estate markets in Southern shows why international firms may seem more of Utah, Brickley was an associate professor of California. She is frequently interviewed by productive than local firms, while the converse economics at the Simon School. He has served the national news media for her viewpoints may be true. as chairman of the Simon Faculty Curriculum on the real estate markets and within the last Committee and as Area Coordinator for couple of years was quoted by The Wall Street Other research by Arie studies the effect of Strategy and Organizations. Journal, the New York Times, Bloomberg, switching costs on markets and shows that, BusinessWeek, Forbes, the Chicago Tribune, contrary to the accepted wisdom, markets Brickley is a past winner of the Simon School’s Distinguished Teaching Award. He has also the Los Angeles Times, the Washington Post, in which consumers suffer a small cost when Investors Business Daily and the San Francisco switching between brands may be less profit- been listed multiple times on the School’s Teaching Honor Roll. Chronicle, and has appeared on CNN, the CBS able to firms than markets without such costs. Evening News, the Today Show, MarketWatch Prior to pursuing his PhD, Arie worked as an In addition to his academic achievements, and CNBC. Recently, Real Estate Southern CA R&D engineer and manager in large defense Brickley has been a consultant to major corpo- Magazine listed her as one of the “50 Women and communication firms. rations and law firms on organizational, fran- of Influence in Real Estate” in California. chising, valuations and antitrust issues. He has Conway earned two undergraduate degrees in BSc, Computer Science and Philosophy, Tel Aviv also held various positions in government in the University, Israel state of Oregon, including executive director of mathematics, statistics and computer science from the University of Wisconsin–Madison and MSc, Management Science, Tel Aviv University, the Jackson-Josephine County CETA Program, Israel public transportation planner for the Rogue Master’s and PhD degrees in statistics from Stanford University. PhD, Managerial Economics and Strategy, Valley Council of Governments and economic Kellogg School of Management, Northwestern analyst for an economic development district. University, Evanston, IL GEORGE R. COOK BS, Economics, University of Oregon Faculty Director of MS in Business James A. Brickley MS, Economics, University of Oregon Administration with a Concentration Gleason Professor of Business PhD, Finance, University of Oregon in Marketing; Executive Professor of Administration; Area Coordinator, Business Administration Economics & Management Group DELORES CONWAY Professor Cook’s teaching interests are in the Professor Brickley has research and teaching Professor of Real Estate Economics and areas of marketing, management, sales man- interests in the economics of organizations, Statistics agement, marketing communications, services corporate governance and compensation marketing, industry/vertical marketing, industrial/ Professor Conway focuses on the Simon policy, corporate finance, franchising and organizational psychology and TeleBusiness. School’s planning activities and represents the banking. His papers have been published in school in external engagement which includes He has taught at Boston University, Nazareth the Journal of Business, the Journal of Law and enhancing corporate relations both domesti- College, St. John Fisher College, Roberts Economics, The Journal of Finance, the Journal cally and internationally. Her research inter­ests Wesleyan College, SUNY Geneseo, Keuka of Accounting and Eco­nomics, the Journal of include statistics, real estate, health care man- College and Rochester Institute of Technology Financial Economics, the Journal of Economic agement, finance, law and labor markets and (RIT), where he has served as the evening chair- Perspectives, the Journal of Economic her papers have appeared in many academic­ person for the Marketing Program. He was a Behavior and Organization, the Journal of Risk journals. distinguished professor at RIT. He instructs both and Insurance, the Journal of Financial and at the undergraduate and graduate level. Quantitative Analysis, Financial Management Prior to joining the Simon School, Conway was

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Cook was employed by the Ford Division­ of the area that provides services primarily to com- Rajiv M. Dewan Ford Motor Company for 10 years in various panies, investment firms, banks, and creditors Xerox Professor of Operations and marketing and management assignments both which are involved in mergers, acquisitions, Management in the operations side of the business and in the turnarounds, workouts, reorganizations, and Professor Dewan is responsible for faculty Headquarters Marketing Staff. sales (of equity and assets). Through DMG, he affairs, faculty research, and faculty recruiting has served in various interim executive and/or He recently retired from the Xerox Corporation and development. after 30 years of service in numerous sales, mar- advisory capacities in companies experiencing He has teaching and re­search interests in keting and customer service assignments includ- managerial, financial, or operational difficulties. electronic commerce, organizational issues in ing: district manager, division manager, industry In addition, Mr. Couch has handled numerous management of information systems, the infor- marketing, general manager, customer services assignments as a Chapter 11 bankruptcy trustee mation technology industry, and financial infor- marketing, division manager of national account and as a Trustee (Assignee) in Assignments-for- mation systems. He has won three Best Paper service and marketing manager, TeleBusiness. the-Benefit-of-Creditors (ABC’s). Awards for research, done in collaboration He has served as a president of the Rochester, Prior to founding DMG, Mr. Couch founded with his colleagues at the Simon School, in the NY, chapter of the American Marketing and managed RGC Associates, which operat- use of information systems standards in orga- Association and serves on the new business ed troubled companies, usually in an Interim nizations, redesign of business processes and books review board of the Journal of Consumer President/CEO capacity. Mr. Couch was also a management of Web sites. His current research Marketing. Cook has recently com­pleted a mar- Senior Vice-President and Principal with INCO interests include marketing on the Internet, the keting case study on “JOLT, America’s Original Venture Capital Management – where he Internet industry, strategic use of technology, Energy Drink!” that should be published soon. assisted in the selection, growth and transition the use of standards in managing information He has served as a member of the Business of early-stage companies. systems, and accounting and financial infor- Advisory Council for the John Wiley School of Following a 9-year career at Xerox in manage- mation systems. His papers have appeared Business at SUNY Geneseo. He was a member rial and vice president roles in both the copier in the Journal of Computing, Management of the RIT President’s Speakers Bureau and manufacturing and printing systems groups, his Science, Decision Support Systems and IEEE speaks on the subjects of quality, customer sat- early executive experience included general Transactions on Computers, among other jour- isfaction, customer services marketing, affinity management roles in two mid-sized compa- nals. marketing and telebusiness. nies, which he ultimately sold to international Prior to joining the Simon School, Dewan was He recently coauthored an article in the Chief buyers.. a faculty member at North­western University’s Marketing Officer Journal, Volume 2, with In addition to his crisis management experi- Kellogg Graduate School of Management. He Paulo Albuquerque, assistant professor of mar- ence, Mr. Couch has been a board member of is a member of INFORMS, the Asso­ciation for keting­ at the Simon School, entitled “The (un) several startup companies. He is also the past Infor­ma­tion Systems, and Beta Gamma Sigma. Importance­ of Marketing and the CMO in the Executive Director of the Tri-Valley Technology Dewan earned a BTech degree from the Indian American Auto Industry.” Enterprise Center (TTEC] – an early-stage Institute of Technology, New Delhi; an MS Cook was formerly a board member of the Incubator and Technology Transfer organization degree with concentrations in Computers and Landmark Society of Western New York Inc. working with Lawrence Livermore Labs and Information Systems and Operations Research and currently is a board member of Randy Northern California Private Equity groups. He from the University of Rochester; and a PhD in Henderson Ford/Lincoln in Webster, NY. periodically accepts counselor/advisor/men- Business Administration from the University of He was also a member of the Sounding Board tor roles with CEOs who are managing rapid Rochester. of Contributors of the Democrat and Chronicle change in their own companies. (Rochester, NY) and has been asked to serve Mr. Couch received the Simon School Gregory Dobson as the Simon School faculty advisor for Alpha Distinguished Alumni Award at the University Xerox Associate Professor of Operations Kappa Psi, the new business fraternity at the of Rochester, and has served on the Simon Management University of Rochester. Executive Advisory Board and was the first Chairman of the Simon Alumni Advisory Board. Professor Dobson’s current work concentrates BS, Business Administration, Indiana University on the application of process improvement­ He is a frequent panelist/presenter at industry principles to health care and other industries. MBA, Marketing The Ohio State University conferences and has taught numerous execu- The methodology employed­ is known as tive lecture series programs in graduate busi- “Six Sigma,” which refers to a set of tools for RICHARD G. COUCH ness schools. doing fact-based decision making in process Executive Professor, and Associate Mr. Couch is a Navy Veteran, and lives with his improve­ ment.­ He teaches an elective course Director and Career Advisor for the Full- wife, Deborah, and two children, Aliyah and on Six Sigma and Lean as well as the core Time MS Finance Program Zachary, in Fairport, New York. Operations course. He remains interested in Mr. Couch has over 30 years of corporate, the interface of operations and marketing. executive and turnaround management expe- BS, Social Sciences, University of Buffalo Examples include work on the management of product variety, product line design, and rience, covering over 500 assignments in a MS, Education, University of Rochester the interface of production and distribution. broad variety of businesses, in a total of 14 MBA, University of Rochester countries. His past work was in job shop scheduling and batch manufacturing. His articles have Since 1984, Mr. Couch has been the Founder, appeared in Man­age­ment Science, Marketing Chairman of the Board, CEO, and Managing Science, Opera­ tions­ Research, Manufacturing Principal of the Diablo Management Group and Service Operations Management, and (DMG), a nationwide management consulting Transportation Science. He is associate editor company based in the San Francisco (East Bay) for Interfaces and a member of the editorial

6 Simon Business School Course Catalog 2014-2015 board of the International Journal of Services management and design; and quality manage- Dan Horsky and Operations Management and Oper­a­tions ment. He has been a consultant on operations Benjamin L. Forman Professor of Management Education Review. He is a mem­ management issues for numerous manufacturing Marketing and Area Coordinator, ber of INFORMS, ASQ, and Beta Gamma Sigma. and service companies (including hospitals and Marketing other health care providers), as well as the city Professor Horsky has primary research inter- BS, Operations Research and Industrial of Amsterdam, the Nether­lands. He has had arti- ests in the analysis of consumer and firm Engineering, Cornell University cles published in Management Science, Operations be­havior as they relate to marketing activities. PhD, Operations Research, Stanford University Research, the Journal of Applied Prob­ability, the He has applied stochastic models to describe European Journal of Opera­tions Research and consumers’ brand-switching behavior. He has other journals. He wrote the chapter on “The Just- Pua l Ellickson conducted studies of sales response to ad­ver- in-Time System” for Volume 4 of the Handbooks Professor of Economics and of tising and salesforce efforts, examined optimal in Operations Research and Management Science Marketing advertising and salesforce policies and studied on logistics of production and inventory. Professor Ellickson’s research interests lie at the estimation of multiattribute models and the the intersection between quantitative market- BS, Econometrics, Vrije Universiteit, optimal positioning of new brands. Horsky’s ing and industrial organization, with a focus on Amsterdam, The Netherlands research on the effects of price, income and using structural modeling to understand the MS, Econometrics, Vrije Universiteit information on the diffusion of new durable products has been funded by the National forces that drive strategic interaction and opti- PhD, Operations Research, Columbia University mal decision making. He is particularly interest- Science Foundation. ed in modeling the importance of dynamic and Horsky’s publications have appeared in spatial competition in retail trade. Ayver Haviv Management Science, Marketing Science, the Assistant Professor of Marketing Ellickson’s research has been published in Jour­nal of Marketing Research and the Journal various academic journals including the RAND Professor Haviv’s research interest is primarily of Business. In 1991, Horsky and his co-author, Journal of Economics, Marketing Science, in the development and application of dynamic, Moshe Givon, received the John D. C. Little Marketing Letters and the International Journal structural models to identify, diagnose and Award for “Untangling the Effects of Purchase of Industrial Organization. solve marketing challenges. Reinforcement and Advertising Carryover,” which was selected as the best market- Before joining the Simon School in 2009, Haviv has explored optimal consumer pack- aged goods pricing policies in the face of ing-related paper published in 1990 in either Ellickson was an assistant professor of eco­ Marketing Science or Management Science. nomics at Duke University. changing seasonal demand and developed a dynamic consumer inventory model to explain Horsky re­ceived the John D. C. Little Award counter-cyclic pricing phenomena, wherein the again in 1993 jointly with his co-author, Paul AB, Economics and Mathematics, University of Nelson, for “New Brand Positioning and Pricing California at Berkeley price of some packaged goods are observed to drop during their peak selling season. In in an Oligopolistic Market.” Horsky is a member PhD, Economics, Massachusetts Institute of of the editorial board of Marketing Science. Technology another joint work on brand building, he mod- eled the impact of firms’ advertising invest- Horsky has taught in MBA and Executive Marshall Freimer ments on their brand equity, and demonstrated MBA programs in the US, the Netherlands, Professor of Management Science and that changes in brand value depend not only Switzerland, Australia and Israel. Based on of Computers and Information Systems on a firm’s advertising, but also on the adver- his achievements in research and teaching, (retired) tising strategy of the firms’ competitors. In Horsky has been named a University Mentor another methodological research initiative, and received the Executive Development Professor Freimer has teaching and re­search Haviv has worked on the development of (MBA) Program Class of 1987 Superior Teaching interests in applied probability and optimiza- dynamic models that relax the assumption, Award. He has consulted on marketing-related tion. He currently utilizes some of this work rejected by research in consumer behavior and topics, in particular on consumer multiattribute in the analysis of problems in information economics, that consumers think of the future brand choice and on life cycles of new consum- systems and marketing. His work appears in in a purely rational way. er durables, with firms worldwide. management, engineering, economics, statis- Haviv has taught at the Rotman School of tics and mathematics journals. He is co-author, Management and the Statistics Department at BS, Industrial Engineering, Technion, Israel with Leonard S. Simon, of the book Analytical Institute of Technology the University of Toronto, where he received Marketing. He has held a Ford Foundation a Teaching Assistant Award for Excellence. He MS, Operations Research, Technion, Israel Faculty Fellowship and has won the Simon Institute of Technology has also worked as a consultant in the market School Superior Teaching Award. PhD, Industrial Administration, Purdue research industry where he developed new University methodologies and advanced statistical models AB (summa cum laude), Mathematics, Harvard University on projects in the telecommunications, fast food, banking and public sectors. Glenn d. huels PhD, Mathematics, Harvard University Clinical Associate Professor of BMath, Statistics, University of Waterloo Accounting Harry Groenevelt MSc, Statistics, University of Toronto Professor Huels has served as vice president– Associate Professor of Operations PhD, Quantitative Marketing, University of tax at Bausch + Lomb and as the head of the Management Toronto (Rotman School of Management) corporate tax department at Goulds Pumps Inc. Professor Groenevelt has interests in health care In both roles, he had overall responsibility for operations, logistics and supply chain manage- the leadership, management, administration, ment (including reverse logistics); service system and direction of all aspects of the corporate

7 Simon Business School Course Catalog 2014-2015 tax function. This included responsibility for Thomas H. Jackson Jarrell has published dozens of articles on eco- global tax planning strategies and working Distinguished University Professor and nomic and finance topics in scholarly academic closely and collaboratively with operations President Emeritus journals, as well as the popular media, and is and the corporate accounting, M&A, legal and an expert on mergers and acquisitions, hos- Thomas H. Jackson, president of the University treasury functions to determine and implement tile takeovers, the economics and regulation of Rochester from 1994 to 2005, holds faculty optimum legal, debt, and equity structures, and of financial markets, financial valuation and positions in the William E. Simon Graduate to maximize after-tax cash flows to the parent microeconomic theory and application. Jarrell School of Business Administration and in the corporations through dividend planning and frequently serves as an expert witness on University’s Department of Political Science. other repatriation strategies. financial-economic issues in business litigation, Before he became Rochester’s ninth president, He has also served as Bausch + Lomb’s director including financial valuation of publicly traded Jackson was vice president and provost of of external tax reporting, responsible for the securities, securities fraud, contract damages the University of Virginia, which he first joined company’s income tax accounting and financial and criminal inside-trading cases. in 1988 as dean of Virginia’s School of Law. reporting requirements, and as a director in He had been professor of law at Harvard Bausch + Lomb’s corporate treasury depart- BS, Business Administration, University of from 1986 to 1988 and served on the Stanford Delaware ment, continuing to work closely with opera- University faculty from 1977 to 1986. MBA, Economics and Finance, University of tions and other corporate functions regarding Chicago global cash flow strategies, debt compliance, A 1972 graduate of Williams College, Jackson accounting for derivatives and other external earned his law degree from Yale in 1975. He PhD, Business Economics, University of Chicago reporting requirements, and the minimization of first clerked for U.S. District Court Judge Marvin foreign exchange exposures and risks. E. Frankel in New York in 1975–76, and then for Sudarshan Jayaraman Supreme Court Justice (and, later, Chief Justice) Huels is a Certified Public Accountant licensed Associate Professor of Accounting William H. Rehnquist in 1976–77. in New York State, and was a manager at the Professor Jayaraman has research interests public accounting firm of Deloitte prior to his Jackson is the author of bankruptcy and com- in corporate governance and the effects of corporate experience. Before joining Simon mercial law texts used in law schools across accounting information in financial markets. His Business School as a full-time associate profes- the country, and served as Special Master for work on corporate governance has examined sor, his teaching experience included instruct- the U.S. Supreme Court in a dispute involving how large shareholders discipline managers ing various courses for Deloitte junior staff at every state in the country over the disposition via the threat of exit, and the role that stock firm-wide national training sessions, lecturing of unclaimed dividends held by brokerage market liquidity plays in the design of executive in SUNY at Buffalo’s Graduate Tax Certificate houses. compensation contracts. He is currently inter- Program, and teaching accounting and tax ested in the functioning of financial institutions courses at Finger Lakes Community College BA, American Studies, Williams College and the propagation of shocks between the and the former St. John Fisher College Masters JD, Yale University banking and industrial sectors. in Taxation program. Professor Jayaraman’s publications have Gregg A. Jarrell appeared in Journal of Accounting & BS, Business Administration, State University of New York at Buffalo Professor of Finance and Economics Economics, Journal of Accounting Research, Journal of Finance, Review of Accounting MBA, Rochester Institute of Technology Professor Jarrell has been a professor of finance and economics at the Simon School Studies and The Accounting Review. His work since 1988, where he also was assistant profes- is presented not only at academic conferences Oalg Itenberg sor from 1977 to 1981. Jarrell served as director within the U.S. and around the world, but also Assistant Professor of Finance of the Simon School’s Managerial Economics at regulatory bodies such as the European Olga Itenberg has earned her doctorate in Research Center from 1988 to 1990, and as Central Bank and the Federal Reserve Bank of Economics from the University of Pennsylvania director of the Bradley Policy Research Center New York. in 2014. In her dissertation titled “Essays in Firm from 1990 to 1994. Also, he was the A.T.&T. In addition to teaching a PhD seminar, Financing and Innovation Activity,” Olga quan- Foundation Resident Management Fellow at Professor Jayaraman teaches Managerial tifies the effect of floatation cost and dividend the Simon School from January to June 1987. In Accounting in the Masters of Finance and the tax drops on manufacturing firms’ observed addition, Jarrell was a Research Fellow under Executive MBA programs. Prior to joining Simon increased use of external equity and the real- Professor George J. Stigler at the University of in 2014, he was at the Olin Business School of location of R&D and patenting efforts from Chicago’s Center for Study of the Economy and Washington University in St. Louis. large to small firms since the 1970’s. During the State from 1981 to 1983, as well as a senior her graduate studies, Olga received an Edwin economist with Lexecon Inc., a Chicago eco- MBA, Bentley College Mansfield Prize for excellence in teaching and nomics consulting firm specializing in Antitrust PhD, University of North Carolina, Chapel Hill spent a summer at the Federal Reserve Bank and Securities litigation from 1983 to 1984. (Kenan-Flagler) of New York as a CSWEP Fellow. Olga earned Jarrell served as the chief economist of the a BS in Business Administration with a major in US Securities and Exchange Commission (SEC) Garrett Johnson Economic Theory from Leonard N. Stern School from April 1984 to January 1987. Before that, he Assistant Professor of Marketing of Business, New York University. was a member of the SEC Advisory Committee Professor Johnson’s research on Internet on Tender Offer Policy from February through BS, Business Administration with a major in Marketing examines the market for online Economic Theory, NYU (Stern) July 1983. He has consulted with the Federal display advertising. His research uses exper- Trade Commission and has served as an PhD, macroeconomics, University of imental and structural methods to measure Pennsylvania (Wharton) adjunct professor at Georgetown University ad effectiveness, understand the welfare School of Law. implications of consumer tracking, and quantify

8 Simon Business School Course Catalog 2014-2015 consumer demand for ads. Prof. Johnson works Jerusalem concerns on risk-taking. His teaching interests with Internet companies–including Facebook PhD, Finance, Wharton School, University of are in financial and managerial reporting. and Yahoo!–to answer these questions with Pennsylvania Internet-scale data. Prof. Johnson received his Prior to pursuing his PhD, Professor Kim worked PhD in Economics from Northwestern University DENNIS KESSLER as a financial and managerial accountant in a and BA from the University of British Columbia. Edward J. and Agnes V. Ackley Clinical large life insurance firm in Seoul, South Korea. Professor of Entrepreneurship BA, Economics, University of British Columbia, BA, Economics, Korea University Vancouver Professor Kessler is co-owner of Kessler MBA, Korea Advanced Institute of Science & PhD, Economics, Northwestern University Restaurants LLC, a Rochester, NY-based owner Technology (KAIST) and operator of 21 Burger King restaurants. PhD, University of Iowa Roy Jones Kessler has 30 years experience in restaurant ownership, real estate and human resource Clinical Assistant Professor of LEONARD KOSTOVETSKY Computers and Information Systems development. He employs about 700 workers in central and western New York State. He has Assistant Professor of Finance Professor Jones’s current research studies owned and operated a number of different Professor Kostovetsky’s main interests are markets for information goods and the im­pact franchise concepts including Friendly’s where in financial economics. Several of his papers of development costs and the complexity of the he was the largest Friendly’s franchise restau- focus on the way that political beliefs and con- development process on market structure. He rant owner in the country. He has led a number nections affect the decisions of financial inves- is broadly interested in the information indus- of successful start-up companies and is a tors and corporate managers. In addition, he is tries, in particular the economics of information member of the Council of Advisors for Gerson also conducting research on the fast-growing systems, electronic commerce, and the evolu- Lehrman Group Inc., an international associa- industry of socially responsible investing and tion of the information technology industry. tion of academic and industry thought leaders has written on recent changes in the asset Before pursuing his PhD, Jones was a lecturer consulting for leading investment professionals management industry. for the Stanford University­ computer science worldwide. department. In addition, he founded a relation- Kessler is a former member of the board of AB, Economics, Princeton University al database consulting firm. In this capacity, he trustees of the University of Rochester Medical MA, Economics, Princeton University worked with Fortune 500 firms and start-ups. Center and past chair and commissioner of the PhD, Economics, Princeton University City of Rochester Civil Service Commission. He BA, History, Stanford University is currently a member of the board of Excellus MS, Computer Science, Stanford University Blue Cross/Shield of Western New York, Phillip J. Lederer Associate Professor of Operations PhD, Operations, Information and Technology, President of the Rochester Police Foundation, Stanford University former founding board member of the Young Management Women’s College Prep Charter School of Professor Lederer has research interests in Ron Kaniel Rochester and a founding board member of operations management and its integration Jay S. and Jeanne P. Benet Professor of the Rochester Education Foundation. He is with economic theory. His current re­search Finance; Chairman of the PhD Program also a founding member and Vice President focuses on three areas: the financial justifica- of the Monroe County Sheriff’s Foundation tion of manufacturing technology, performance Professor Kaniel has research interests in the and a member of the Farash Foundation Grant evaluation in operations and competition areas of asset pricing, financial intermediation Review Board. in network-based industries. His work has and investments. His research is focused on appeared in Econometrica, the Inter­national understanding mutual funds investment deci- BS, City University of New York Journal of Flexible Manu­facturing Systems, sions and how they impact security prices, the MA, Sociology, John Jay College of Criminal the Journal of Manu­fac­tur­­ing and Oper­a­tions impact of endogenous community effects on Justice Management, the Journal of Operations Man­ investors’ investment decisions and equilibrium MSL, Yale University Law School agement, Oper­a­tions Research, Opera­tions prices, and the predictive role of changes in LLM, Northwestern University School of Law Research Let­ters, Regional Science and Urban trading volume and investors’ order flow on Econom­ics and Transportation Science. Lederer security returns. Certificate of Business Administration, Instituto de Empresa, Madrid, Spain is as­sociate editor of the In­ternational Jour­nal Kaniel has published articles in The Journal of Production Economics and an occasional of Finance, Journal of Financial Economics, referee for Econometrica, the Jour­nal of Jaewoo Kim Ac­counting and Economics, Man­age­ment Sci­ Review of Financial Studies, Journal of Assistant Professor of Accounting Business, Operations Research, and ence, Operations Research and the Review of Mathematical Finance. His work has been cited Professor Kim’s research interests include Eco­nomic Studies. He is a former assistant pro- multiple times in The Wall Street Journal, the financial reporting, auditing, tax avoidance, and fessor of business administration at the Darden New York Times and the Washington Post. corporate investment. He is particularly inter- Graduate School of Business Ad­ministration at the University of Virginia. Prior to joining the Simon School in 2011, Kaniel ested in understanding the interaction between was a faculty member at Duke University and accounting information and corporate decisions (e.g., investment, financing, and liquidity man- BS, Physics, State University of New York at the University of Texas at Austin, and was a vis- Stony Brook iting scholar at Stanford University. agement). His current working papers examine the role of accounting for business combina- MS, Applied Mathematics, Northwestern University BSc, Mathematics and Computer Science, tions in explaining the asset growth anomaly, the effect of accounting conservatism on corpo- PhD, Applied Mathematics, Northwestern Hebrew University Jerusalem University MSc, Computer Science, Hebrew University of rate investment, and the effects of CEO career 9 Simon Business School Course Catalog 2014-2015

John B. Long Jr. Research Grant Silver Medalist Award; and BS, Electrical Engineering, Union College Frontier Communications/Rochester garnered national media attention in relevant MS, Electrical Engineering, Rensselaer Telephone Professor of Business trade publications such as the New York Times, Polytechnic Institute Administration; Professor of Finance and Ad Age, MSI Insights, and Marketing News. MBA, Executive Development Program, Economics; Area Coordinator, Applied At the Simon School, Lovett teaches marketing University of Rochester Economics research and advanced marketing topics and Professor Long has research interests primarily has taught advertising and consumer behavior. ANDRÁS MIKLÓS in the area of financial economics. In his pub­ He was the Sheth Doctoral Consortium Fellow Clinical Assistant Professor lished articles, he has addressed many of the for Duke University where he earned his PhD. Professor Miklós has research interests in busi- financial decision problems faced by individuals ness ethics, medical ethics and health policy. and firms. These include total savings and port- BA, Mathematics, Economics, German, Ohio Wesleyan University Prior to joining the Simon School, he was a folio-selection decisions (with particular empha- postdoctoral fellow at Harvard University, and sis on income tax implications and the per- MBA, Boise State University held fellowships at the European University formance of sophisticated port­folio-selection PhD, Business Administration, Duke University Institute, the University of Oxford and the techniques), investment-proj­ect evaluation University of Oslo. His research has been pub- and dividend-policy choice. In other articles, RAVINDRA N. MANTENA lished or is to appear in Utilitas, Public Health he addresses the behavior of rel­a­tive asset Clinical Associate Professor of Computer Ethics and Public Reason. prices, the measurement of “ab­nor­mal” asset and Information Systems returns, the implications of taxes and inflation MA, Political Science, Central European for common stock prices and the term structure Professor Mantena studies economics of digital University and information-rich products. His research of interest rates. With Charles I. Plosser, Long PhD, Political Science, Central European has done theoretical and empirical research on explores how the increasing information University fundamental interpretations of fluctuations in technology content in products alters compe- tition, strategy and market structure. Recent economic activity (business cycles). Long is a Jeanine Miklós-Thal past editor and ad­visory editor of the Journal research has focused on issues of pricing, product design and entry in converging dig- Assistant Professor of Economics and of of Financial Economics and a member of Beta Marketing Gamma Sigma. ital markets, and also on price and demand evolution in network industries. In addition, he Professor Miklós-Thal’s research interests BA, Mathematics, Rice University also has research interests in measuring deci- include industrial economics, marketing and PhD, Industrial Administration, Carnegie Mellon sion performance, revenue management and the economics of organizations. She is particu- University information economics. Prior to pursuing his larly interested in the impact of marketing deci- PhD in information systems, Mantena worked sions on customers’ quality perceptions, the as a sales manager for a consumer goods competitive implications of common contractual Mitchell J. Lovett multinational firm and founded an aquaculture Associate Professor of Marketing arrangements in the grocery industry, and the company in India. incentive effects of contests. Professor Lovett’s research develops quan- Miklós-Thal’s research has been published or titative models of consumers and firms to BE (honors), Electrical Engineering, Birla is to appear in the Journal of the European understand marketing phenomenon. His Institute of Technology and Science (India) Economic Association, the International Journal research studies targeted advertising, advertis- MBA, Business Management, Indian Institute of of Industrial Organization and Economic ing content and schedule choices, online and Management (India) Theory. offline word-of-mouth, social media listening, M.Phil, PhD, Information Systems, New York and consumer learning. One stream of Lovett’s University Her main teaching interest lies in pricing and research examines the antecedents and con- industrial economics. Prior to joining the Simon sequences of social engagement and word-of- Lawrence J. Matteson School, Miklós-Thal taught at the University of mouth. Recent projects in this stream evaluate Executive Professor of Business Mannheim, Germany. She was also a postdoc- the relative importance of paid, earned, and Administration toral fellow at the European University Institute owned media in building new entertainment in Florence, and a visiting scholar at the MIT brands, how brand characteristics influence Professor Matteson brings to the Simon School Sloan School of Management. word-of-mouth online and offline, and how over 25 years of experience in tech­nology and these two channels differ in their content and manufacturing management and in strategy Propaedeuse, International Economic Studies, use. A second stream of Lovett’s research development in large corporations. He teaches Maastricht University focuses on applying and developing empirical corporate strategy, Competitive Strategy, mar­ Propaedeuse, Econometrics, Maastricht methods for political marketing. Current proj- keting strategy and negotiation theory and University ects in this stream study the dynamics behind practice in both the regular MBA and Executive MA, Economics, Maastricht University why candidates go negative in their political MBA programs. Matteson was previously senior DEA, Economic Theory and Econometrics, advertising, how candidates can improve their vice president and manager of electronic University of Toulouse 1 targeting of political ads, and the role of social imaging at Eastman Kodak Company­ , which he PhD, Economics, University of Toulouse 1 media in influencing voter sentiment. joined in 1965. He holds an MS degree in elec- trical engineer­ ing­ from Rensselaer Polytechnic Lovett’s research has been published in top Institute­ and received the Hugh H. Whitney marketing journals including Marketing Science Award for highest academic honors from the and the Journal of Marketing Research; School’s Executive MBA Program­ in 1979. He received research grants and awards, including serves on several boards and is active as a the Institute for the Study of Business Markets’ management consultant. 10 Simon Business School Course Catalog 2014-2015

DUNCAN T. MOORE BA, Mathematics, Economics and Business, New York State and the Federal Court of the Vice Provost for Entrepreneurship, Macalester College Western District of New York. Rudolf and Hilda Kingslake Professor MS, Business Administration, University of Rochester Oliveiri is the author of the revised edition of of Optical Engineering, Professor of Nimmer’s Commercial Asset-Based Financing Biomedical Engineering, Professor PhD, Business Administration, University of Rochester (Thomson/West), a leading legal treatise. His of Business Administration, and Area research interests are in the areas of law and Coordinator, Entrepreneurship economics as interrelated disciplines, and in Professor Moore was appointed vice provost Robert novy-marx particular how the legal environment affects for entrepreneurship at the University in Lori and Alan S. Zekelman Professor of comparative advantage. 2007. In this role, he oversees the Center for Finance Entrepreneurship and managed the Kauffman BS, Accounting, University at Buffalo Professor Novy-Marx’s research focuses pri- Campus Initiative ($10.6M over five years). marily on asset pricing, both theoretical and JD, University at Buffalo Moore is also the Rudolf and Hilda Kingslake empirical, though he also works in industrial MBA, University of Rochester Professor of Optical Engineering and professor organization, public finance and real estate. of business administration at the University of Rochester. Novy-Marx earned the American Real Estate Dmitry Orlov and Urban Economics Association Dissertation Assistant Professor of Finance From 2002 until 2004, he served as the Award in 2005 and the Western Finance president and chief executive officer of the Dmitry has research interests in several areas Association’s Trefftz Award in 2004 for “An Infotonics Technology Center. From 1995 to of finance and economics including employ- Equilibrium Model of Investment Under 1997, Moore was dean of engineering and ee performance evaluations, markets for Uncertainty.” His “Hot and Cold Markets” won applied sciences at the University. From 1997 repurchase agreements, and coherent risk the 2010 Mill’s Prize for the best paper in real until 2000 he served as associate director for measurement. He also studies market micro- estate economics. technology, White House Office of Science structure models and general equilibrium asset and Technology Policy, Executive Office of the Novy-Marx is also a former professional tri- pricing. Orlov’s research has been published President. athlete, a member of the National Bureau of in the Journal of Finance and Mathematical Economic Research and taught at the Booth Finance. Prior to earning a PhD from the Moore teaches an entrepreneurship course to School of Business before coming to the Simon Stanford Graduate School of Business, he a combined class of engineering graduate stu- School. earned a degree in Mathematics from Moscow dents and MBA’s. State University and a degree in Data Analysis BS, Physics, Swarthmore College from the Moscow Institute of Physics and BA, Physics, University of Maine at Orono PhD, Finance, University of California–Berkeley Technology. MS, Optics, University of Rochester (Haas School of Business) PhD, Optics, University of Rochester MICHAEL A. RAITH DAVID J. OLIVEIRI Associate Professor of Economics and Pua l Nelson Executive Professor of Business Management Clinical Professor of Marketing Administration Professor Raith joined the Simon School in Professor Nelson’s teaching and research Professor Oliveiri has held several executive 2002 and teaches MBA and MS courses in in­ter­ests are concentrated on the multi-attrib­ positions over a 30-year career in publishing organizational and competitive strategy, for ute model of consumer behavior, brand man- and law. which he was named to the Teaching Honor agement, product posi­tioning and pricing, Roll three times. His research interests parallel outsourcing and the Internet. Nelson directs He most recently served as group vice pres- his teaching interests, and include organiza- the Brand Management Program at Simon. ident of legal education for West Group (an tional economics and industrial economics. He recently had marketing articles published operating arm of Thomson-Reuters) and presi- Professor Raith has worked on pricing strate- in Mar­keting Science, Management Science dent of Foundation Press. gies in the presence of market uncertainty, the and the Journal of Retailing as well as phi- He has held positions as senior vice president effects of financial constraints on firms’ behav- losophy and information systems journals. and publisher, vice president of business devel- ior in product markets, incentive contracting He has served as a reviewer for numerous opment, vice president of product systems, and performance evaluation in organizations, journals, including Mar­ket­ing Science, Man­ and general manager/chief­ operating officer and the interaction be­tween incentives and agement Science and the Journal of Con­sumer for various Thomson subsidiaries and operating communication in various organizational situ- Research. Nelson and his co-author, Dan groups. ations. Raith’s work has been published in the Horsky, won the John D. C. Little Award for the Oliveiri began his career at Lawyers American Economic Review, RAND Journal of best paper published in 1992 in Management Cooperative Publishing in Rochester, NY, where Economics, American Journal of Economics, Science or Marketing Science, for their paper, he was a managing editor, and later, an edi- Journal of Economic Theory, International “New Brand Posi­tioning and Pricing in an torial director. He has also served as general Journal of Industrial Organization, Journal of Oligopolistic Mar­ket.” Nelson has also won the counsel at Theatre Confections Inc. and was Law, Economics and Organization and Journal Frank M. Bass Award for the best published assistant counsel at Central Trust Bank. of Financial and Quantitative Analysis. marketing paper based on a dissertation. Nel­ Prior to joining the Simon School faculty, Raith son previously taught at the Krannert Grad­uate He is a member of the New York State and Monroe County Bar Associations, Beta Gamma taught at the Graduate School of Business of School of Management at Pur­due University. the University of Chicago. During 2005–06, he He has been inducted into Beta Gamma Sigma, Sigma, the Scribes Society of Legal Writers, and the Academy of Legal Studies in Business. He visited the University of Southern California’s Omicron Delta Epsilon,­ Pi Mu Epsilon and Phi Marshall School of Business, where he re­­ceived Beta Kappa. is licensed to practice law before the courts of

11 Simon Business School Course Catalog 2014-2015 a Golden Apple teaching award. In Fall 2011, the Amer­ican National Standards for Informa­ ­ G. William Schwert he visited MIT’s Sloan School of Management, tion Systems Programming Languages-Fortran. Distinguished University Professor and where he taught organizational economics. Professor Schenk is also a member if the Professor of Finance and Statistics International Standards Organization (ISO) as Professor Schwert has research and teaching Vordiplom, Economics, University of Bielefeld part of a sub-committee defining programming interests in portfolio and capital-market theory, Vordiplom, Computer Science, Fernuniversität standards for Computer-integrated manufac- corporate finance and control, econometrics Hagen turing systems (CIMS) and Computer numerical and time-series analysis, and in the effects Diplom, Economics, University of Bonn control (CNC) of public regulation on business. From 1978 PhD, Economics, London School of Economics Professor Schenk is an arbitrator for the until 1982, his research was sponsored by the American Arbitration Association and a member National Science Foundation. During 1982, robert ready of the Financial Industry Regulatory Authority he was the first CRSP Distinguished Research Assistant Professor of Finance (FINRA) Board of Arbitrators. Scholar at the University of Chicago. He received a Batterymarch Research Fellowship Professor Ready’s research interests are in for the 1982–83 academic year. In 1990, he asset pricing, macrofinance, and international BA, Mathematics, University of California MBA, University of Rochester won the Graham and Dodd Plaque for the best finance. His recent research focuses primarily paper (“Stock Market Volatility”) published in on commodity prices. His current projects the Financial Analysts Journal, and he won include studying how changes in production Ronald M. Schmidt a Smith-Breeden Dis­tin­guished Paper Award conditions lead to changes in the riskiness Janice M. and Joseph T. Willett Professor for one of the best papers (“Why Does Stock of commodity derivatives, and examining the of Business Administration for Teaching Market Vola­til­ity Change Over Time?”) pub- relation between commodity price risk and and Service lished in The Journal of Finance. currency­ risk. Professor Schmidt developed the Execu­tive Schwert has been an editor of the Jour­nal BA, Economics, Carnegie-Mellon University Development (MBA) Program at Erasmus of Financial Economics since 1979 and the University in the Netherlands and served as its managing editor since 1995. He was an asso- PhD, Finance, University of Pennsylvania first chairman. His teaching areas include eco- ciate editor of The Journal of Fi­nance from nomics, statistics, marketing, organizations and 1983–2000, and he is an advisory­ editor of the huaxia rui corporate strategy. Journal of Monetary Economics. His current Assistant Professor of Computers and Schmidt received Superior Teaching Awards research deals with the pricing of initial public Information Systems from the MBA Classes of 1974, 1976, 1983 and offerings of stock, the effects of insider trading Professor Rui’s research interests include social 1991; the Executive De­velopment (MBA) Classes on the market for corporate control, the ef­fects media, economics of electronic commerce, of 1984, 1985 and 1988; the Rochester-Erasmus of anti-takeover devices on take­over activity, health IT, and contract theory. MBA Class of 1987 and the Rochester-Nyen­ and on stock market vola­tility.­­­­ rode Classes of 2000 and 2001. His publica- His current research focuses on social media AB (honors), Economics, Trinity College analytics, online word of mouth, and online tions include papers on pricing, regulation MBA, Finance, Econometrics, University of advertising. and management compensation. His current research activities include an ex­am­ination of Chicago the relationship between pay and performance PhD, Finance, Econometrics, University of BE, ME, Control Science and Engineering, Chicago Tsinghua University for CEO’s and an in­vestigation of the impact of PhD, Information Management, The University contractual provisions on the performance of of Texas at Austin (McCombs School of major-league baseball players. He has served ABRAHAM SEIDMANN Business) as a consultant to Eastman Kodak Company, Xerox Professor of Computers and Xerox Corporation, Bausch & Lomb, Schlegel Information Systems; and Area Werner Schenk Corporation, Croon Electro­techniek and several Coordinator, Computers and Information Clinical Assistant Professor of other corporations. Systems, and Operations Management Computers and Information Systems BA, Economics, The Ohio State University Professor Seidmann is the author of over 100 research articles, which appear in many Professor Schenk has professional and teach- MA, Economics, The Ohio State University ing interests in computers and information of the leading scientific journals, and has systems as applied to end-user computing, been the founding department editor on doc­umentation and training, and applications Bryce Schoenberger interdisciplinary management research and development for office and manufacturing Assistant Professor of Accounting applications in Management Science for 10 automation. Prior to joining the faculty, he Received his doctoral degree in Accounting years. He is also an associate or area editor worked as a principal information specialist and from the University of Southern California. His for IIE Transactions, the Inter­na­tion­al Journal manager of programming services for Xerox research interests lie in financial accounting of Flexible Manufacturing Systems,­ Production Cor­po­ra­tion. He now consults independently with specific interest in asset impairments, Planning and Con­trols, the Journal of Intelligent on information systems. He was a visiting pro­ option markets, and earnings quality. He holds Manufac­tur­ing, the Journal of Management fessor of management information systems at an active CPA license in Colorado following In­for­mation Systems, and Production and St. John Fisher College and has held adjunct work experience at PricewaterhouseCoopers in Oper­a­tions Management. His current research teaching positions at the Roch­ester Institute the audit support practice. and consulting activities include medical infor- of Technology and the State University of matics, electronic commerce, online auctions, New York at Brock­port. He has been a mem- information systems, health care management, ber of the ANSI Com­mittee for Programming business process design, project management Language Stan­dardization and is a co-author of and optimal resource allocation, strategic

12 Simon Business School Course Catalog 2014-2015 manufacturing systems, information econom- JOEL SELIGMAN based contracts and resale price maintenance. ics, stochastic processes and performance President, University of Rochester He has re­ceived research grants from the modeling for capacity planning and pricing. In US National Science Foundation, the Social Joel Seligman, president of the University of October 2012 Professor Seidmann was named Science Research Council (USA) and the Social Rochester since July 1, 2005, also holds faculty a “Distinguished Fellow” by the Institute of Research Council (UK). positions in the University’s Department of Operations Research and the Management Political Science and in the William E. Simon Shaffer’s work has appeared in the American Sciences (INFORMS) and the Information Graduate School of Business Administration. Economic Review; Economic Journal; the RAND Systems Society of INFORMS. The award was Journal of Economics; Journal of Economics Before he became the University of Rochester’s given to Seidmann, in recognition of his contri- and Management Strategy; Journal of Law and tenth president, Seligman was dean of butions to the information systems discipline. Economics; Jour­nal of Law, Economics and Washington University’s School of Law since Seidmann is the first faculty member at the Organi­z­ation; Journal of Industrial Economics; 1999. He was dean and Samuel M. Fegtly University of Rochester to win that honor. In International Journal of Industrial Or­ganization; Professor of Law at the University of Arizona October 2011, he also won the WITS 2012 Best Marketing Science; and Man­agement Science. College of Law from 1995 to 1999. He also Instructional Technology award for developing He received Emerald Management Review’s served on the faculty at the University of the highly interactive www.TradewindBusiness. Citation of Ex­-cellence Award as the author Michigan Law School, George Washington Uni­ com business simulation software. This soft- of one of the top 50 management articles of versity Law School and Northeastern University ware has been in use by dozens of leading 2002. universities around the globe. Law School. Shaffer is a co-editor of the Journal of Eco­ A graduate of Harvard University, Seligman is Seidmann has consulted with many of the nomics and Man­agement Strategy and an one of the nation’s leading experts on secu- leading industrial and service corporations and as­sociate editor of the Journal of Economics rities­ law, and is the co-author, with the late presented numerous research and executive and Business. He has served as a visiting Louis Loss and Troy Paredes, of the 11-volume seminars on four continents. He has won scholar in the two U.S. government anti- Securities Regulation, the leading treatise in teaching awards from the MBA and Executive trust agencies: the Antitrust Division of the the field, and author of The Transformation MBA classes at the Simon School, as well as US Department of Justice and the Bureau of Wall Street: A History of the Securities from the Rochester-Nyenrode Class of 2003, of Economics at the U.S. Federal Trade and Exchange Commission and Modern and the MBA Classes of 1989 and 2009. His Commission. Shaffer participated in the writing Corporation Finance. research was cited twice on the front page of of the 2001 Federal Trade Commission’s report The Wall Street Journal, and he was granted He also has served as reporter for the National on slotting allowances (payments for retail shelf several prestigious prizes at international con- Conference of Commissioners on Uniform State space), and he has twice given invited testi- ferences for publishing outstanding research Laws, Revision of Uniform Securities Act (1998– mony­ on their competitive effects, serving on papers in the areas of information systems, 2002); as chair of the Securities and Exchange a three-member panel inves­tigat­ing this prac- information economics and electronic com- Commission Advisory Committee on Market tice at the Hearings on Global and Innovation merce. These in­clude the Award for Best Information (2000–2001); and as a member Based Competi­tion (1995) and again at the Research Paper at the 16th International Con­ of the American Institute of Certified Public Federal Trade Commission’s sponsored work- fer­ence on Information Systems, presented Accountants Pro­fessional Ethics Executive shop on slotting al­low­ances (2000). in Am­ster­dam, the Netherlands. He also won Committee. He is currently a member of the Prior to joining the Simon School in 1997, the best paper award at the 1998 Hawaii boards of the Financial Industry Regulatory Shaffer taught in the economics departments International Con­ference on Systems Sci­ences, Authority (FINRA) and the Eastman Kodak at Indiana University (Bloomington, Ind.) and in Kohala, Hawaii. In 1999, the Workshop on Company. In­formation Sys­tems and Economics gave him the University of Michigan (Ann Arbor, Mich.). a special award for writing “The Best Paper He is the author or co-author of 21 books and He has held an appointment at Princeton Uni­ on Information Systems and Eco­nomics.” He over 40 articles on legal issues related to secu- versity’s Woodrow Wilson School, and he has is currently working with clinical teams from rities and corporations. been a visiting scholar in the marketing depart- the University of Rochester Medical School, ment at Northwestern Uni­versity’s Kellogg AB, Political Science, University of California at School of Management. University of Texas Medical School and John Los Angeles Hopkins University on the development of inno- In addition to his teaching and research duties JD, Harvard University vative ways for treating various Neurological at the Simon School, Shaffer has an appoint- disorders including Chronic Headaches and ment in the School of Management at the Parkinson Disease using special protocols and Greg Shaffer University of East Anglia (Norwich, UK). He is care maps for Telemedicine. He also works Wesray Professor of Business also the founder of the Center for Pricing. on the www.3rdFriday.com application that is Administration; Professor of Economics designed to match medical students with the and Management and of Marketing BA (high honors), Economics and Mathematics, Swarthmore College respective medical schools that they plan to Professor Shaffer teaches the course on visit for their residency. pricing policies to full-time and part-time MA, Economics, Princeton University MBA students. He has been named to the PhD, Economics, Princeton University BSc, Industrial and Management Engineering, Technion, Israel Institute of Technology Teaching Honor Roll numerous times and was awarded the Superior Teach­ing Award from MSc, Operations Research, Technion, Israel Clifford W. Smith Jr. Institute of Technology the MBA classes of 2001 and 2004. Shaffer’s Louise and Henry Epstein Professor of research employs game theoretic models to PhD (cum laude), Industrial Engineering, Texas Business Administration and Professor Tech University examine pricing-related issues in IO and anti- of Finance and Economics trust economics. His specialty is in the area of vertical restraints, including exclusive dealing, Professor Smith has research interests in the bundling, slotting allowances, market-share- fields of corporate financial policy, derivative

13 Simon Business School Course Catalog 2014-2015 securities and financial intermediation. He ERIN SMITH statistics. Previously, she taught operations has published 16 books and over 90 articles Assistant Professor of Business management at the Weatherhead School in leading finance and economics journals. Administration of Management at Case Western Reserve Students in the Executive MBA Program have University. She has 14 years of industrial experi- earned her doctorate in Finance from the Stern given him their Superior Teaching Award 21 ence as a software engineer and project man- School of Business in 2013. In her dissertation, times; students in the MBA Program have given ager in telecommunications, medical instru- “Do Shareholders Want Less Governance?” him their Superior Teaching Award 16 times. mentation, supply chain software and financial Smith uses over-voting as a novel instrumental In 2003, he received the FMA Fellows Award industries. She has published articles in the variable that increases the likelihood of passing by the Financial Management Association European Journal of Operations Research, anti-takeover provisions, finding that such pro- International. He was named Distinguished Mathematical Social Sciences, International visions increase shareholder value. Scholar by the Southern Finance Association in Journal of Revenue Management and the 2000, and Distinguished International Visiting Production and Operations Management Scholar by the British Ac­­count­ing Association She has been awarded the Best Finance PhD Journal. in 1991. In 1986, he was given the first Special Dissertation in Honor of Stuart Greenbaum Award for a Perfect Teaching Rating by the by Washington University in St. Louis and the SB, Electrical Engineering, Massachusetts School; in 1983, he was chosen a University Edwin Elton Prize for Best Job Market Paper by Institute of Technology Mentor in recognition of his scholarship and New York University, Stern School of Business. MS, Applied Mathematics, Colorado School of teaching. Smith will be visiting the Securities and Mines Exchange Commission for most of this academ- He is currently chairman of the board of Home PhD, Operations Management, Case Western ic year and will join the Simon faculty full time Reserve University Properties, a multifamily real estate investment in fall 2014. trust (REIT) with operations primarily along the East Coast of the United States, and was HEIDI TRIBUNELLA She earned a BA in Engineering and Economics formerly chair of the compensation committee, Faculty Director of MS in Accountancy; from Dartmouth College. chair of the governance committee, and lead Clinical Associate Professor of director. Accounting TOL GA TEZCAN Smith has served as president of the Risk Professor Tribunella has served as an auditor Theory Society, president of the Financial Associate Professor of Operations for two national firms, Deloitte & Touche and Management Association National Honor Management PricewaterhouseCoopers LLP. At those firms, Society, vice president for Global Services Professor Tezcan has research interests she served clients in the health care industry as of the Financial Management Association in management of service operations. He well as midsized firms. Tribunella, also a New International, vice president of the International studies robust design and control of service York State Certified Public Ac­count­ant, spent Eco­nomics and Finance Society, a member systems, such as call centers and health care over five years in industry as a manager of of the board of advisors of the International systems, operating under demand uncer- financial reporting for two different health care Association of Financial Engineers, and a mem- tainty. He has won the NSF CAREER award in companies. Prior to joining the Simon School ber of the board of directors of the Financial 2009. His research articles have appeared in faculty, she taught a variety of business and Management Association and the Southern Management Science, Operations Research, accounting courses­ at various colleges. Finance Association. He is an advisory editor Math of Operations Research, Annals of Tribunella has an interest in accounting and of the Journal of Fi­nancial Economics; an Applied Probability and Queueing Systems. auditing research and has published articles associate editor of the Journal of Risk and Prior to joining Simon School in 2010, he taught with in the CPA Journal, the Journal of Business Insurance, Fi­nan­cial Practice and Education, courses in Engineering Economy and Decision and Economics Research, the Journal of the Review of International Economics, the Making, and Statistical Process Control at College Teaching and Learning, The Review Journal of Financial Services Research, the University of Illinois at Urbana-Champaign. of Business Information Systems, and the Journal of Derivatives, and the Journal of Before obtaining his PhD, he worked at the UPS Accounting Information Systems Educator Financial Research; a member of the editorial Customer Service Center. Journal. board of the Review of International Econom­ ics; and a member of the advisory board of Tribunella has received Best Paper Awards BS, Industrial Engineering, Bilkent University, at the International Business and Economics the Journal of Applied Corporate Fi­nance, Turkey, The Financier, Contemporary Finance Digest, Research Conference and the Accounting MS, Industrial and Systems Engineering, Information Systems Educators’ Conferences. and The Arbitrageur. His paper, “Trading Colorado State University–Pueblo Cost for Listed Options: The Implications for MS, Mathematics, Georgia Institute of BS, Accounting, State University of New York at Market Efficiency” (with Susan M. Phillips), was Technology Geneseo awarded the Pomerance Prize for Excellence PhD, Industrial and Systems Engineering, Certified Public Accountant, New York State in Options Research by the Chicago Board Georgia Institute of Technology License Options Exchange for 1980; his paper, “On MS, Accountancy, State University of New York the Convergence of Insurance and Finance Institute of Technology Research,” was awarded the Alpha Kappa VERA TILSON Psi-Spangler Award by the American Risk and Associate Professor of Operations Insurance Association for 1996. Management Jerold B. Warner Professor Tilson’s research interests are in Fred H. Gowen Professor of Business BA, Economics, Emory University supply chain management, stochastic sched- Administration; Professor of Finance and PhD, Economics, University of North Carolina at uling and health care operations. Her teaching Area Coordinator, Finance Chapel Hill interests are in production and operations man- Professor Warner has teaching and re­search agement, management science and business 14 Simon Business School Course Catalog 2014-2015 interests in portfolio theory, capital markets and GERARD J. WEDIG University, the University of Michigan and the corporate finance. He is currently an associate Academic Director of Health Care University of Iowa before joining the University editor of the Journal of Financial Eco­nomics. Programs; Associate Professor of of Wisconsin in 2003. He is a former mem­ber of the faculty of the Business Administration Whited has taught in a wide variety of areas in University of Chicago Graduate School of Professor Wedig’s research interests in­volve the finance, macroeconomics and econometrics at Business. application of corporate finance, governance, the undergraduate, MBA and doctoral levels. organizational economics and incentives to She has published over 20 articles and has BS, Economics, University of Pennsylvania the health care industry. He has studied the twice won a Brattle Prize for one of the top MA, Operations Research, Yale University investment and financing decisions of hospi- articles in the Journal of Finance in corporate MBA, Economics and Finance, University of tals and nonprofit entities, incentive payment finance. Her research deals primarily with the Chicago systems for physicians and hospitals, and a effects of financial markets on firm capital PhD, Economics and Finance, University of variety of other issues in health economics, budgeting decisions. She has also conducted Chicago including the incentive effects of Medicare and research in the areas of theoretical economet- Medi­caid payment systems on costs, insurance rics, asset pricing, macroeconomics and cor- Charles E. Wasley coverage and charity care. His current research porate debt policy. She serves on the editorial Joseph and Janice Willett Distinguished focuses on the organizational economics of the boards of the Journal of Financial Economics Scholar; Area Coordinator, Accounting managed care industry. Wedig’s publications and the Review of Financial Studies. have ap­peared in The Journal of Finance, the Professor Wasley’s teaching interest is the Journal of Business, the Review of Eco­nom­ics BA, French Literature and Economics, University financial reporting area. His research interests and Statistics, the Journal of Health Eco­nomics, of Oregon encompass the role of accounting information in Health Affairs, Medical Care Re­search and PhD, Economics, Princeton University capital markets. He currently serves as an asso- Review and other journals. In addition, he has ciate editor of the Journal of Accounting and been the recipient of numerous­ research grants Economics. His current research focuses on KAURT WOJD T from the Centers for Medicare and Medicaid­ the rational pricing of earnings, cash flows, and Clinical Assistant Professor of Accounting Services (formerly HCFA) and the Robert Wood accruals; measuring real activity management; Johnson Foundation. Professor Wojdat gained public accounting the role of management earnings forecasts experience working for two years as an auditor in the bond market; management cash flow Wedig teaches courses in organizational eco­ with Peat Marwick and Mitchell. A certified forecasts; information externalities in capital nomics as well as the corporate finance and public accountant, he spent five years at Warner markets; the determinants of insider trading governance of health care organizations. He Lambert engaged in internal auditing, cost windows; and the role of materiality as a deter- has consulted to numerous medical organi- accounting, financial analysis and treasury minant of firms’ disclosure decisions. zations including hospitals, HMO’s, physician activities. He then performed financial planning groups, pharmaceutical firms and consulting Recent publications include “Soft-Talk and analysis functions at Xerox Cor­pora­tion for firms on issues of health care finance. Prior Management Cash Flow Forecasts: Verifiability, three years. After receiving his doctoral degree, to joining the Simon School, Wedig taught at Credibility, and Stock Price Effects,” forthcoming he taught at Syracuse University for one year Boston University’s School of Management,­­ in Contemporary Accounting Research, 2012 be­fore joining the Simon School faculty­. the Wharton School at the Uni­versity­ of Penn­ and “Information Externalities along the Supply sylvania and Indiana University’s Kelley School Chain: The Economic Determinants of Suppliers’ BS, Accounting, State University of New York at of Business. Stock Price Reaction to Their Major Customers’ Albany Earnings Announcements,” Contemporary MBA, Finance, University of Rochester BS (summa cum laude), Economics, Washington Accounting Research, 2011. University (St. Louis) PhD, Accounting, University of Buffalo Wasley’s research has been published in the MA, Economics, Harvard University Journal of Accounting and Economics, The PhD, Economics, Harvard University joanna Shuang Wu Accounting Review, the Journal of Accounting Susanna and Evans Y. Lam Professor of Research, the Journal of Finance, the Journal of Accounting Financial Economics, Contemporary Accounting Toni m. whited Research, the Journal of Accounting, Michael and Diane Jones Professor of Professor Wu’s research spans the areas of Auditing and Finance, the Journal of Portfolio Business Administration and Professor of international financial reporting, the behavior of Management, and the Review of Quantitative Finance; Co-Chairperson, PhD Program financial analysts, management compensation, Finance and Accounting. Professor Whited was named the first Michael voluntary disclosure, and mutual fund perfor- mance. Her work has been published in the Prior to his appointment at the Simon School, and Diane Jones Professor of Business Admin­ istration on February 24, 2009. Journal of Accounting and Economics, Journal Wasley was a faculty member at Washington of Finance, Journal of Accounting Research, University in St. Louis and The University of Previously, Whited was the Kuechen­meister- and The Accounting Review, among others. She Iowa. Bascom Professor at the Wisconsin School has been named to the Simon School Dean’s of Business at the University of Wis­consin, Teaching Honor Roll numerous times. Professor BS, Accounting, State University of New York at Madison. She earned a BA from the University Binghamton Wu is an editor of the Journal of Accounting and of Oregon, majoring in French literature Economics. MS, Accounting, State University of New York at and economics, and a PhD from Princeton Binghamton University in economics, working with Ben BA, International Economics, Beijing University PhD, Accounting, The University of Iowa Bernanke. Professor Whited worked at the MA, Economics, Tulane University Federal Reserve Board and was on the faculty of the University of Pennsylvania, Northwestern PhD, Business Administration, Tulane University

15 Simon Business School Course Catalog 2014-2015

Jerold L. Zimmerman Ellen Zuroski models using high frequency data. Ronald L. Bittner Professor of Business Senior Lecturer Bauer received his doctorate from the Wharton Administration and Professor of Professor Zuroski has teaching and research School of Business at the University of Accounting interests in cross-cultural communication­ and Pennsylvania. He holds the Chartered Financial Professor Zimmerman’s research and teach- second language acquisition. Her work for Analyst (CFA) designation. Prior to obtaining ing interests involve financial and managerial educational and corporate institutions includes his doctorate, Bauer was a foreign exchange accounting. In 2004, he and Professor Ross L. design implementation of numerous communi- trader at the Bank of Canada and a macroeco- Watts (at MIT) received the American Accounting cation skills courses and workshops, as well as nomist at the Ontario Ministry of Finance. Bauer Association Seminal Contribution to the coordinating translations and editing of market- is a four-time winner of the Superior Teaching Accounting Literature Award, the most presti- ing, training and instructional publications for Award from the Simon MBA program and a gious research award in the field of accounting. internal use. Her clients have included Eastman multiple winner of awards from the Executive They received the American Institute of Certified Kodak Company, Gleason Corporation, Bausch MBA program. Public Accountants Award in 1979 and 1980 for & Lomb, Volvo and Saatchi & Saatchi Ltd. BA, Applied Economics, University of Waterloo their joint papers. Zimmerman was the 1978 win- Zuroski has served as a language arts educa- ner of the Competitive Manuscript Award, spon- tional consultant with public television­ and has MA, Economics, Queen’s University sored by the American Accounting As­so­ciation, written and produced a number of nationally MA, Finance, University of Pennsylvania for his paper, “The Costs and Benefits of Cost syndicated edu­cational television programs. PhD, Finance, University of Pennsylvania Allocation.” The Watts/Zimmerman research, She was awarded a Kellogg Foundation Fel­ which has come to be called “positive theories low­ship in International Development for her of accounting,” seeks to understand the costs DANIEL J. BURNSIDE work in fostering educational and enterprise Lecturer in Finance and benefits of various accounting procedures. initiatives among U.S., Latin Amer­ican and He and Watts co-authored a book, Positive Caribbean partners. Dr. Burnside is director of quantitative research Accounting Theory, published by Prentice-Hall at Rochester money manager Clover Capital in 1986. BA, English Literature and Asian Studies, Management. He has held various roles in the Zimmerman’s current research includes: Cornell University investment, risk management and financial “Corporate Governance Myths: Comments on MS, Education, University of Rochester planning fields, and has worked extensively Armstrong, Guay, and Weber,” with James A. PhD (candidate), University of Rochester with both individual and institutional clientele. Brickley (Journal of Accounting and Economics); His teaching goal is to provide students with “Unintended Consequences of Granting Small the knowledge to bridge the gap between the Firms Exemptions from Securities Regulation: the staff aca­demic theories and the practitioner world of Evidence from the Sarbanes-Oxley Act,” with money management. Feng Gao and Joanna Shuang Wu (Journal of We have an experienced and dedicated staff Burnside is a chartered financial analyst (CFA) Accounting Research); and “The Joint Effects of that support the faculty and students of the and a certified financial planner (CFP). Materiality Thresholds and Voluntary Disclosure Simon School. Incentives on Firms’ Disclosure Decisions,” with Faculty have individually assigned staff who BS, Engineering, Cornell University Shane Heitzman and Charles Wasley (Journal of can serve as liaisons to the students on course- MS, Engineering, Cornell University Accounting and Economics). work and research-related matters. The staff PhD, Engineering and Mathematics, Cornell The fifth edition of Managerial Eco­nom­ics offices are located in close proximity to the University and Organizational­ Architecture by James faculty for optimal support and effectiveness for MBA, University of Rochester A. Brickley, Clifford W. Smith Jr. and Jerold L. the students. Zimmerman was published by McGraw-Hill/ Irwin in 2009. Brickley, Smith, Zimmerman and COHRIST PHER DUNSTAN Janice Willett authored a popular version of this the ADJUNCT FACULTY Lecturer in Information Systems text entitled Designing Organizations to Create Currently Managing Director of TH Business Value published by McGraw-Hill in 2003. The GREGORY H. BAUER Advisors where he provides Turnaround, M&A, seventh edition of Zim­mer­man’s textbook, Visiting Assistant Professor of Finance Corporate Finance, and IT advisory services Accounting for Decision Making and Control, Professor Bauer is assistant director and and Chairman of LaunchNY, a regional develop- was published by McGraw-Hill in 2011. research adviser in the Financial Markets ment economic corporation which will host the Zimmerman is a founding editor of the Journal Department at the Bank of Canada. At the world-wide Buffalo Business Plan Competition of Accounting and Economics. He was also a bank, he is responsible for managing a group with $5 million of annual prizes starting in the distinguished faculty member of the American of nine PhD researchers who specialize in Fall of 2014. 30 years of corporate, executive Accounting Association’s Doctoral Consortium, analyzing fixed income and foreign exchange and turnaround management experience in and a visiting professor at Chinese University of markets. In addition, he coordinates the depart- over 10 countries across industries spanning Hong Kong, Hong Kong University of Science ment’s annual research workshops. from food production, industrial products, con- and Technology, Hong Kong University, and sumer products, cable and media services, to His main area of research is international Hong Kong Polytechnic University. He is on the manufacturing. He was the largest shareholder finance. He has published papers in the Review board of directors of IEC Electronics and on the of a food processor and distribution company. of Economic Studies, the Journal of Financial company’s audit and compensation committees. Before that, he served as EVP and CFO of Economics, the Journal of Econometrics Rich Products Corporation, a $3 billion global and the Journal of International Money and BS (cum laude), Finance, University of Colorado food manufacturer; EVP, CFO and Treasurer of Finance, as well as in several policy-oriented Adelphia Cable Corporation, a public company, PhD, Business Administration, University of journals. He is currently working on incorporat- California at Berkeley where he restored financial stability after the ing macroeconomic factors into term structure Rigas scandal; SVP and CFO of Sentry Group, 16 Simon Business School Course Catalog 2014-2015

DONALD GOLINI BS, Optics, University of Rochester to entering graduate school Howe worked in Lecturer in Entrepreneurship MS, Electro-Optics, Tufts University the construction and commercial real estate industries. Howe’s avocational interests include Mr. Golini is a successful entrepreneur with bicycle touring, history and foreign travel. He over 20 years of experience in the develop- VINCENT W. HOPE is married to the photographer Lauren Howe, ment, management, and commercialization of Lecturer in Marketing and their two sons are Benjamin (Captain in new technologies. As president and founder of Mr. Hope has a 30-year career in leverag- the USMC) and Noah (Congressional intern). He QED Technologies, Golini took a novel finishing ing customer knowledge in the creation of holds a B.A. from Brown University and MBA process from a university laboratory to world- business opportunities. He has experience in and PhD degrees from Union College. wide commercial success. Today, QED devel- business development, market research and ops, manufactures, and markets precision fin- “Smart Marketing” applications for data-rich ishing and metrology equipment for the optics Harry Howe has twenty years of experience as environments. In recent years he has applied industry. QED was acquired in June 2006 by an accounting instructor at both graduate and his intrapreneurial experience to not-for-profit Cabot Microelectronics Corporation (NASDAQ: undergraduate levels. He has taught all the endeavors. CCMP), an Illinois-based company that is the courses in the financial accounting sequence world’s leading supplier of chemical mechan- He is president of Empire State Sports and, SUNY Geneseo (where he holds the rank ical planarization slurries used in advanced Foundation Inc., newly formed to privatize and of Professor) Howe developed the Financial semiconductor and data storage manufactur- continue a 30-year New York State amateur Statement Analysis course and has taught that ing. Golini stayed on as president until 2010. sports tradition—the Empire State Games. He numerous times. His other teaching assign- is founder and past president of Honor Flight ments have included AIS, Strategy, Finance and Since its founding, QED grew from five to Rochester, a community-driven organization sections of the Western Humanities course. more than 50 employees with personnel in created in 2008 to fly aging veterans to visit the United States, Germany, France, Japan, and reflect together at memorials built in their Howe’s research has addressed issues in and Australia. The QED portfolio includes honor in Washington DC. business valuation (his PhD dissertation area), more than a dozen fundamental international financial reporting for employee stock options patents, and the company has sold more than During a corporate career Hope served major and pedagogy. He co-authored two volumes in 150 machines in North America, Europe, and and mid-market clients with strategic marketing the BNA Policy and Practices series and a text Asia. Over the years, QED received various support, including Apple, Bank One, Disney, on IT auditing published by Wiley. His papers prestigious awards, including the Photonics GM, IBM, Kellogg’s, Matsushita, Mitsubishi, and case studies have been widely presented Circle of Excellence Award, the US Department P&G, Sony, Sprint, 3M, and others. in conferences and have published in The of Defense Manufacturing Technology He served as director of customer knowledge Journal of Legal Economics, The Journal of Achievement Award, the Rochester Top 100 in the database marketing agency of Acxiom Business Valuation and Economic Loss Analysis, Award, the R&D Magazine R&D100 Award, and Corp, and director of strategic research and Issues in Accounting Education, The Journal the Rochester Business Ethics Award. planning at the American Society for Quality. He of Accounting Education, The CPA Journal, Prior to founding QED, Golini was involved began his career in film and media production, Simulation and Gaming and other journals. in the development, management, and com- before a 15-year stint growing and leading a mercialization of new technologies related to primary market research firm focused on pro- RICHARD C. INSALACO the manufacture of precision optics. He man- prietary services for media communications, Lecturer in Finance aged the research program at the Center for entertainment and publishing industries. Optics Manufacturing (COM) at the University Mr. Insalaco is the senior investment officer of Rochester from 1992–1996 and worked BS, Psychology, Denison University and assistant treasurer in the University of on large optics manufacturing and R&D at MBA, Finance, Rochester Institute of Rochester Investment Office, which manages Itek Optical Systems in Lexington, MA, from Technology and invests the University’s endowment and 1986–1992. affiliated funds as well as the University’s oper- ating capital. Mr. Insalaco’s areas of responsibil- Today, Golini serves as an adjunct professor HARRY HOWE ity include multi-strategy hedge funds, private at the Simon School and teaches a course Lecturer in Accounting equity, venture capital, distressed debt, fixed in technical entrepreneurship. He is on the “I have a particular passion for the Financial income, cash funds, and risk management; Dean’s Visiting Committee of the University of he is also responsible for the management Rochester’s Hajim School of Engineering and Statement Analysis course. It’s the course that tells the finance concentrators where the and investment of the University’s operating Applied Sciences, co-chair of the University capital. He joined the University in 2007, after of Rochester’s Technology Development numbers come from, and where they should be skeptical or critical of the information pro- serving as a senior financial analyst and trader Fund Selection Committee, and a member at the New York Federal Reserve Bank, where of the University of Rochester’s Technology vided in the 10-K’s. It’s the course that tells the accountants how the numbers they produce he worked on the Open Markets trading desk, Development Fund Executive Committee. He from which the Fed implements monetary also serves as chairman of the board of direc- are going to be used – what matters to the consumer. And it’s the course that brings policy. In that capacity, he provided advice to tors of the Rochester Angel Network (RAN), and senior Federal Reserve and treasury officials advises several companies in the Rochester elements of accounting, finance and strategy together into a new whole. I think it’s one of the on macroeconomic issues and market develop- area. He is a former president of the Rochester ments, and oversaw the Open Market Desk’s chapter of the Optical Society of America, is most important courses in the whole business curriculum.” Howe has received several awards customer trading operations. Prior to this, Mr. named on seven United States patents, and has Insalaco briefly worked as an investment bank- been widely recognized for his role in trans- for teaching, active learning, scholarship and service. He continues active board service with er in the financial institutions group at Smith forming the state of the art in precision optics Barney. He began his career as a corporate manufacturing. the Rochester FEI and NYSSCPA chapters, is a past president of the Northeast AAA region and securities attorney in San Francisco, where and a 2011 inductee to its Hall of Fame. Prior he practiced for seven years before returning 17 Simon Business School Course Catalog 2014-2015 to academia to attend business school. Brand Integrity focuses on facilitating senior Operations in April 2012 after serving as Mr. Insalaco is a Chartered Financial Analyst management teams to achieve alignment and corporate controller at VWR Education and (CFA) and a member of the Rochester CFA consensus in regards to an “ultimate business in leadership positions in both internal audit Society. He is also a member of the California, strategy,” the brand strategy, and creating and accounting at Excellus Blue Cross Blue New York, and New Jersey bars, and is the actionable ways to live it internally through Shield, Wegmans Food Markets, and Xerox co-author, with (former) US Senator Peter people and processes. Brand Integrity Inc. Corporation. Fitzgerald, of Note, “Denying the Crime and works with leadership to achieve employee She began her career in 1989 with Deloitte & Pleading Entrapment: Putting the Federal Law “buy-in” to the brand strategy to ensure sound Touche, Boston. She progressed to various in Order” in the University of Michigan Journal execution and to establish accountability for financial leadership positions in the firms men- of Law Reform. Mr. Insalaco serves on several performance, which in turn leads to increas- tioned above including senior financial analyst, non-profit boards in Rochester. es in employee productivity, loyalty among internal audit manager, vice president of audit, existing customers, and greater sales to new operations controller, and most recently corpo- customers. Lederman has crafted and imple- BA (Magna Cum Laude, Phi Beta Kalla), Political rate controller. mented organization-wide and product-spe- Science, University of Rochester cific brand strategies with many of today’s Mattick earned her CPA in 1990. JD and MBA, University of Michigan leading companies including Wegmans Food In addition, she gained entrepreneurial expe- Markets Inc., Hallmark Cards Inc., Erickson riences when she assisted her husband with Communities, PAETEC Holding Corp., Corning financing for their mutually owned venture, Rami Katz Incorporated, Duke Energy, Frito-Lay and the Metro Cartridge, a remanufacturer of print Lecturer in Entrepreneurship American Red Cross. cartridges and toner with retail locations and Rami Katz is the Chief Operating Officer for Throughout the year, Lederman delivers a warehouse in Henrietta, Greece, Victor, Excell Partners, Inc., managing Excell’s due-dil- keynote interactive presentations at various and Geneva, NY. Metro Cartridge began in igence and investment processes. Prior to conferences across the country. Lederman is Rochester in 2005 as a start-up. joining Excell, Rami served as the Director of a board member with the Learning Disabilities­ Mattick actively volunteers with her children’s’ Technology Commercialization at High Tech Association, the Genesee Valley Trust Advisory school and organization activities and recently Rochester where he worked closely with entre- Board, and the Simon School Alumni Council. completed seven years of service as a board preneurs, researchers and startups to evaluate member of Volunteers of America in Western the commercial potential of new technologies. BS, Ithaca College School of Business NY, at which she created and chaired the audit Rami managed the creation of over 50 busi- MBA, University of Rochester committee and served on the finance and pro- ness plans that led to raising over $40M in gram committees. funding from VCs, angels as well as grants. r obert C. maddamma She resides in Victor, NY, with her husband Rami is an attorney that led a litigation, banking Lecturer in Business Communications Jim and children Victoria, 18; Cynthia, 16; and and corporate law practice in Israel, managing Johnathon, 14; and will be teaching auditing in Mr. Maddamma joined the Simon School in a legal team that directed the restructure of the Master of Science in Accountancy program 2008 and works with master of science stu- over $14M in corporate and asset backed debt in the Winter 2013 semester. annually, while growing the group’s revenues dents in the management communications and leadership area. by over 300%. BS, Accounting and Law, Clarkson University After launching his own legal and management He retired from Xerox Corporation in 2001 MBA, University of Rochester consulting practice in Israel, Rami was one the after a 40-year career that began as a service founding members of a seed-stage investment technician and culminated as vice president of worldwide service operation for a wholly ROBERT M. PLACE group, investing and assuming leadership roles Lecturer in Business Law in seed stage, technology, ventures to provide owned subsidiary, XESystems Inc. financial and business development manage- Following his retirement from Xerox, he found- Mr. Place has been a practicing attorney for 29 ment. The group launched 12 high-tech startups ed his own consulting firm, Strategic Solutions years and utilizes this experience in teaching that were focused on advanced materials, Inc., and then joined Transcat, a mid-size com- for the University of Rochester. He taught social internet technologies, consumer electronics pany in Rochester, NY, in 2002 as vice presi- studies at the junior and senior high school and medical devices. dent of Laboratory Operations. He retired from level for four years be­fore attending law school Transcat in 2007. at Syracuse Uni­versity. He is a partner in the Rami earned his MBA from the University of law firm of Place & Arnold, a general practice Rochester and his law degree from the Tel-Aviv AAS, Electronic Instrumentation and which represents local municipalities, real University in Israel. Technology, Penn Technical Institute estate, matrimonial, bankruptcy and estate cli- Certificate in Industrial Management, Rochester ents. His varied legal experience gives students a practical understanding of business law. Gregg Lederman Institute of Technology BS, University of Rochester Lecturer in Marketing AS, Liberal Arts, Monroe Community College MBA, University of Rochester Mr. Lederman is the founder of Brand Integrity BS, US and European History, SUNY College at Inc. and co-creator of the Achieving Brand Oneonta Integrity™ process. With over 15 years of expe- MICHELLE F. MATTICK MS, Social Science Education, SUNY College at rience as a business and marketing strategy Lecturer in Accounting Oneonta professional, Lederman is an entrepreneur who Michelle F. Mattick is the corporate controller JD, Syracuse University has owned and operated several businesses for Logical Operations, formerly Element K, in the Rochester area prior to founding Brand a privately held training and development Integrity Inc. innovator in Rochester, NY. She joined Logical

18 Simon Business School Course Catalog 2014-2015 James S. Senall served as both an officer and director of the frank C. Torchio Lecturer in Entrepreneurship New York State Trial Lawyers Association. Lecturer in Finance and Economics Mr. Senall is currently the president of High Shanahan’s community service has included Mr. Torchio is the president of Forensic Technology Rochester (HTR), where he manag- serving as a trustee of the Manlius Pebble Economics Inc., located in Rochester, NY. He es all aspects of the organization in supporting Hill School and as a guest commentator founded Forensic Economics in 1989. Torchio is innovators, entrepreneurs, and manufacturers for the Rochester Democrat & Chronicle, the 1991 Rosenthal Fellow at the University of in the nine-county Rochester/Finger Lakes the Rochester Business Journal, and the Rochester and teaches courses in finance and region. Senall also serves as director of the Rochester Daily Record. economics at the Simon School. Rochester Angel Network, a group of 30 For over 18 years, Torchio has consulted on accredited investors interested in seed and BS (cum laude), Management Law and numerous litigation assignments pertaining early stage opportunities. Economics, Rensselaer Polytechnic Institute to financial valuations, regulatory econom- Prior to joining HTR, Senall was managing JD, Albany Law School of Union University ics, transfer pricing, and analysis of stock director of business development at Greater (Member, Albany Law Review) price responses to public information. His Rochester Enterprise (GRE), where he was assignments include the Cendant, Enron and responsible for growing the local emerging BOB TOBIN Worldcom securities litigations, and the law- business sector. This included efforts to fill Lecturer in Entrepreneurship suits arising out of the recent private-equity infrastructure gaps, develop new programs, acquisitions including the Kinder Morgan trans- and drive collaboration among community part- Prior to his appointment at the University of action and the Clear Channel transaction. Rochester, Mr. Tobin was president and CEO of ners to foster increased numbers and success Torchio has testified at trial and numerous Tobin & Associates Inc., an information technol- rates of startup companies. times in depositions and at arbitrations. His ogy services firm that was established in 1987. Prior to GRE, Senall worked as a consultant to areas of expert testimony include business val- Over the next 20 years, the company grew several early stage technology companies, and uation, investment portfolio analysis, damages from six employees to over 140, while extend- before that was employed by Advanced Vision arising from breach of contract, and damages ing the core competencies and capabilities Technologies, a semiconductor/MEMS start- in securities fraud lawsuits. He has coauthored to better meet the evolving technical require- up, where he was involved in raising several an article with the late Simon School Professor ments of its clients. million dollars in venture funding. Additional Michael J. Barclay about the trading models experience includes various operaitonal and Tobin & Associates Inc. was a seven-time recip- used for estimating damages in securities law- entineering assignments at TYCO Electronics in ient of the Rochester Top 100 Award and also suits. The article is published in Duke University Pennsylvania and North Carolina. He is also a received the Quality First Award from Eastman School of Law’s Law and Contemporary member of Beta Gamma Sigma. Kodak Company. Tobin & Associates Inc. was Problems. also awarded the Empire State Employer Torchio has passed the Level III examination of Recognition Award, earning statewide praise BS, Electrical Engineering, Rochester Institute the chartered financial analyst (CFA®) program of Technology for its proactive employment efforts on behalf of the CFA Institute and has been awarded the MBA, Marketing and Entrepreneurship, of physically challenged individuals. University of Rochester CFA® charter. In addition to his business and education BA, Mathematics, Niagara University pursuits, Tobin is very active in the Rochester MBA, University of Rochester PAUL F. SHANAHAN community. He was an inaugural member of Lecturer in Business Law the Entrepreneurial Partnership of Nazareth College. He is past president of the Small thomas tribunella Mr. Shanahan is a lawyer admitted to practice Lecturer in Accounting law before all federal and state courts in New Business Council of the Greater Metro York State and the District of Columbia. He Rochester Chamber of Commerce, past board Professor Tribunella’s teaching and research maintains an active statewide practice with president of the Rochester Rehabilitation interests are in the fields of accounting and emphasis on commercial and civil litigation. Center and past president of Prevention information systems. He has published papers Shanahan has published various articles in Partners, a drug use prevention and education related to markup languages such as XML and the Albany Law Review and the International agency. XBRL, open source accounting systems, and Practitioner’s Notebook. He has lectured He is currently Board President at Coordinated technology’s effect on productivity. He has also extensively to legal and professional groups, Care Services, Inc. and a board member of the won four best paper awards at academic con- speaking on a number of topics concerning Center for Information Services (a nonprofit IT ferences. Examples of his publication appear the civil justice system. Shanahan has served collaboration project). in the following outlets, among others: Journal as an arbitrator for various legal disputes. His Tobin was named Small Business Person of of Information Systems, The CPA Journal, research interests include the role of legal reg- the Year by the Small Business Council of The Review of Business Information Systems, ulation in reducing systemic risk to the financial the Greater Metro Rochester Chamber of Journal of Global Information Management system. He has taught at Simon continuously Commerce and Citizen of the Year by the and Journal of Business and Economics since 1984. His excellence in teaching includes Penfield (NY) Lions Club. Research. election by his students to the Simon Teaching Tribunella worked in industry as an auditor Honor Roll. BA, Sociology, Seton Hall University and accountant before beginning a career Shanahan is a three-time recipient of the in academia. He has been on the faculty at President’s Distinguished Service Award by the Rochester Institute of Technology, SUNY the New York State Trial Lawyers Association. Institute of Technology, SUNY Oswego and He is a founding member of the New York SUNY Geneseo. He is currently teaching Trial Lawyers Academy and a member of the Accounting Information Systems, Management American Board of Trial Advocates. He has Information Systems, Auditing and Information 19 Simon Business School Course Catalog 2014-2015

Systems, and Cost Accounting.

BBA, Accounting, Niagara University Certified Public Accountant, New York State License MBA, Accounting, Rochester Institute of Technology PhD, Information Science, State University of New York at Albany

Mark W. Wilson Lecturer in Entrepreneurship Mr. Wilson founded Initiatives Consulting LLC in 1997 to help clients turn technical ideas into new products and companies. Initiatives Consulting has created business plans, marketing support, and road show coaching that has been instrumental in starting six companies, raising several million dollars of seed money, and launching two new medical devices. Since 2004, Wilson has taken nearly 200 teams through an intense workshop to jump-start their technology-based product ideas (see psw-ny.org). Over the past three years, Initiatives has been providing outsourced design, development and testing services to a mid-sized company, including a proprietary syringe-product and a device to reduce cathe- ter-related blood stream infections. Wilson has conducted market and competitive research, recommended pricing strategies and business models and directed sales training and business development endeavors. He has been commissioned for hundreds of conceptual sketches. He has created cartoons, video story- boards and marketing collateral for a variety of technology and product areas. With diverse roles prior to Initiatives in product design, process engineering, optical tooling, lean manufacturing and automation, Wilson has been involved in the creation and launch of five new medical device platforms currently generating more than $1 billion in annual sales. As a project manager, Wilson has installed over $12 million in capital. He has over eight years engineering management experience leading groups of up to 70 resources and budgets to $3.5 million.

BS, Mechanical Engineering, Rensselaer Polytechnic Institute MS, Mechanical Engineering, Rensselaer Polytechnic Institute

20 Simon Business School Course Catalog 2014-2015

MBA requirements and core course sequences Full-Time MBA Programs • Accounting and Information Systems Much of the academic work in the MBA program will • Business Environment and Public Policy rely on computer-based analysis and computer-as- To earn the Master of Business Administration • Business Systems Consulting sisted presentations. Upon entry to the program, degree, a student must complete 67 credit-hours of • Competitive and Organizational Strategy faculty will expect students to have a working knowl- study (64 credit-hours for part-time study) with a 3.0 ◊ Strategy and Organizations track edge of spreadsheet and word-processing software. grade-point average. Full-time MBA candidates must ◊ Pricing track The programs most widely used are Microsoft Excel successfully complete a Communicating Business • Computers and Information Systems and Access. Most of the core curriculum and several Decisions course sequence. • Corporate Accounting elective courses require significant computer use. The MBA curriculum consists of nine required core • Entrepreneurship CORE COURSES courses, plus a Communicating Business Decisions • Finance course sequence over three quarters (full-time stu- • Health Sciences Management ACC 401. Corporate Financial Accounting dents only). • International Management CIS 401. Information Systems for Management Waivers are permitted for some of the core cours- • Marketing ◊ Marketing Strategy track FIN 402. Capital Budgeting and Corporate es. The list of core courses for which waivers are Objectives permitted and the details of the waiver policy are ◊ Brand Management track available on internal Websites at Simon. Waivers do ◊ Pricing track GBA 411. Framing and Analyzing Business not reduce the number of credits needed to get the • Operations Management Problems 1 MBA degree. • Public Accounting GBA 412. Framing and Analyzing Business Additionally, 11 electives, and one additional for each Because of the increasing reliance managers place Problems 2 waived core course, are required. Although not on information technology, knowledge of and a MKT 402. Marketing Management substantial ability to use computers is integral to the required, students may complete a concentration. OMG 402. Operations Management Most opt for at least one and, in many cases, two. Simon education. Concentrations permit students to develop expertise STR 401. Managerial Economics in the following areas: STR 403. Organization and Strategy MGC 401-3. Communication Business Decisions Traditional Two-Year MBA Program: Fall Entrant (Fall A - August Start) FALL MINI - FALL A (5 wks) FALL QUARTER - FALL C WINTER SPRING GBA 412 GBA 411 OMG 402 STR 403 Framing and Analyzing Framing and Analyzing Busi- Operations Management Organization and Strategy Business Problems 2 ness Problems 1 Billable Credits: 3 Total Credits: 3 Billable Credits: 3 Total Credits: 3 Billable Credits: 3 Total Credits: 3 Billable Credits: 3 Total Credits: 4

STR 401 ACC 401 Elective CIS 401 Management Economics Corporate Financial Accounting Billable Credits: 3 Total Credits: 3 Information Systems for Man- Billable Credits: 3 Total Credits: 4 Billable Credits: 3 Total Credits: 4 agement Billable Credits: 3 Total Credits: 4 MKT 402 Elective Elective Marketing Management Billable Credits: 3 Total Credits: 3 Billable Credits: 3 Total Credits: 3 Billable Credits: 3 Total Credits: 3

FIN 402 Capital Budgeting and Corporate Objectives Billable Credits: 3 Total Credits: 3

MGC 401 MGC 402 MGC 403 Communicating Business Communicating Business Communicating Business Decisions I Decisions II Decisions III Billable Credits: 1 Total Credits: 1 Billable Credits: 0 Total Credits: 1 Billable Credits: 0 Total Credits: 1

CMC Programming

Fall A + Fall C Billable Credit Hours: 19 Winter Billable Credit Hours: 19-12 Spring Billable Credit Hours: 9-12 Fall A + Fall C Total Credit Hours: 23 Winter Total Credit Hours: 10-12 Spring Total Credit Hours: 11-14

Year 1 Billable Credit Hours: 37-43 MBA Program Billable Credits Hours: 61 Year 1 Total Credit Hours: 43-49 MBA Program Total Credit Hours: 67

21 Simon Business School Course Catalog 2014-2015

18 Month Accelerated MBA Program: Winter Entrant WINTER SPRING SUMMER GBA 412 GBA 411 OPTION A Framing and Analyzing Framing and Analyzing Business Problems 2 Business Problems 1 STR 403 Billable Credits: 3 Total Credits: 3 Billable Credits: 3 Total Credits: 4 Organization and Strategy Billable Credits: 3 Total Credits: 3 STR 401 MKT 402 CIS 401 Management Economics Marketing Management Information Systems for Billable Credits: 3 Total Credits: 4 Billable Credits: 3 Total Credits: 3 Management Billable Credits: 3 Total Credits: 4

FIN 402 OMG 402 Elective Capital Budgeting and Operations Management Billable Credits: 3 Total Credits: 3 Corporate Objectives Billable Credits: 3 Total Credits: 3 Billable Credits: 3 Total Credits: 3 ACC 401 Elective (Optional) Elective (Optional) Corporate Financial Accounting Billable Credits: 0-3 Billable Credits: 0-3 Billable Credits: 3 Total Credits: 4 Total Credits: 0-3 Total Credits: 0-3

MGC 401 MGC 402 OPTION B * Communicating Business Communicating Business Decisions I Decisions II Summer Internship Billable Credits: 1 Total Credits: 1 Billable Credits: 0 Total Credits: 1

— AND —

MGC 403 Communicating Business Decisions III Billable Credits: 0 Total Credits: 1

CMC Programming

Winter Billable Credits: 13 Spring Billable Credits: 9-12 Summer Billable Credits: 9-12 Winter Total Credits: 15 Spring Total Credits: 12-15 Summer Total Credits: 10-13

Year 1 Billable Credit Hours: 31-37 MBA Program Billable Credits Hours: 61 Year 1 Total Credit Hours: 37-43 MBA Program Total Credit Hours: 67

* Immigration regulations require enrollment of international students for at least one full academic year (three quarters) before eligibility is granted with the United States for paid, off-campus employment, including an internship. Participation in Simon’s English Language and US Culture (ELUSC) Program is one option that may fulfill this particular requirement and requires approval by the Admissions Committee.

The study grids contained in this book are current for the 2014-2015 academic year. While it is not expected that any billable credits will change for the 2015-2016 academic year, the arrangement of courses is subject to change.

22 Simon Business School Course Catalog 2014-2015 P- art Time Flexible MBA Core-Course Offerings

The Part-Time MBA degree requires 64 hours of study and a total of 20 classes (nine core required courses and 11 electives). As a part-time MBA student, you may take up to two courses a quarter. While the minimum time of completion is two and a half years, the average length to complete the program has been three and a half years. Part-time students have up to seven years, from the start of their first class to the end of their last class, to complete the degree requirements.

MBA Core Course offerings FALL C Quarter Winter Quarter Spring Quarter Summer Quarter 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 Organization and Strategy ✓ ✓ GBA 412 Framing and Analyzing Business Problems 2 ✓ ✓

The study grids contained in this book are current for the 2014-2015 academic year. While it is not expected that any billable credits will change for the 2015-2016 academic year, the arrangement of courses is subject to change.

23 Simon Business School Course Catalog 2014-2015

Simon Accelerated Professional MBA (PMBA) Program

The Simon Accelerated Professional MBA (PMBA) is a part-time evening program distinguished by its class-cohort system and accelerated pace. Students attend nine core courses together in a structured sequence of two classes per quarter, subsequently selecting 11 electives required to com- plete desired degree concentrations. Textbooks for core courses are included in tuition fees. Additional events and services are designed exclusively for program participants. With the PMBA course schedule, working professionals can earn a graduate business degree in approximately two and a half years. The same degree, faculty and concentrations are available for the PMBA as with the full-time MBA. Non-matriculated Simon students may also apply for accep- tance in the program. A new entering cohort is selected each fall and spring quarter.

PMBA - FALL START COURSE SCHEDULE PMBA - Spring Start Course Schedule Fall - Year 1 STR 401* Managerial Economics Spring - Year 1 GBA 412 Framing and Analyzing Business FIN 402 Capital Budgeting and Corporate Problems 2 Objectives FIN 402 Capital Budgeting and Corporate Objectives Winter - Year 1 GBA 411* Framing and Analyzing Business Problems 1 Summer - Year 1 GBA 411* Framing and Analyzing Business ACC 401* Corporate Financial Accounting Problems 1 ACC 401* Corporate Financial Accounting Spring - Year 1 MKT 402 Marketing Management GBA 412 Framing and Analyzing Business Fall - Year 1 STR 401* Managerial Economics Problems 2 OMG 402 Operations Management Summer - Year 1 STR 403 Organization and Strategy Winter - Year 1 STR 403 Organization and Strategy CIS 401* Information Systems for Management CIS 401* Information Systems for Management Fall - Year 2 OMG 402 Operations Management Spring - Year 2 MKT 402 Marketing Management Elective Elective Winter - Year 2 Elective Summer - Year 2 Elective Elective Optional** Elective Spring - Year 2 Elective Fall - Year 2 Elective Elective Elective Summer - Year 2 Elective Winter - Year 2 Elective Optional** Elective Elective Fall - Year 3 Elective Spring - Year 3 Elective Elective Elective Winter - Year 3 Elective Summer - Year 3 Elective Elective Elective

*Three credit-hour lecture plus one credit-hour lab *Three credit-hour lecture plus one credit-hour lab **If a student opts not to register for the Summer quarter of the second year, course **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. may be taken in Fall of the third year to complete the program. Please note that students who graduate in Fall of the third year can walk in the following year’s Commencement ceremony.

24 Simon Business School Course Catalog 2014-2015

CONCENTRATIONS - MBA Accounting and Information BPP 440.† Evolving Medical Markets (HSM 440) OMG 437. Managing Health Care Operations Systems (AIS) BPP 442.† International Economics and Finance (HSM 437) (6 courses) (FIN 442) STR 421. Competitive Strategy Given the close working relationship be­tween FIN 430. Financial Institutions the accounting function and information The other two may be selected from this list: Competitive and Organizational technology in organizations, the School Strategy (STR) offers a joint concentration in Ac­counting and STR 422. Game Theory for Managers Simon Business School offers two tracks within Computers and Information Systems. The con- STR 423. Pricing Policies (MKT 414) centration provides thoroug­h training in both the Competitive and Organizational Strategy areas. STR 424. Human Resource Strategy concentration—The Strategy and Organizations STR 425.† Organization of Industry and Markets track and the Pricing track. Students can Required core courses, plus six other courses. choose either of these two tracks to satisfy At least four must be selected from this list: STR 426.† Property Rights and the Law the requirements of the Competitive and Organizational Strategy concentration. ACC 410. Accounting for Management and Business Systems Consulting Control (5 courses) Strategy and Organizations ACC 411. Financial Statement Analysis The Simon School concentration in Business Track ACC 438. Auditing II—Auditing and Information Systems Consulting offers a cutting-edge, (5 courses) Systems highly focused program designed to equip stu- dents with the skills and experience necessary The Strategy and Organizations track builds CIS 413. The Economics of Information on the economic fundamentals introduced in Management to excel in the business systems consulting enterprise. While students will be exposed STR 401 and STR 403. Its cross-functional and CIS 415. Business Process Analysis and to a variety of career possibilities during the integrative curriculum provide a sound basis for Design course of their studies, most students are likely the evaluation and implementation of a broad CIS 416†. Advanced Information Technology to assume a position in the business systems range of business strategies and policies. practice of one of the major consulting firms. Topics included are: policies internal to the firm such as compensation, performance evalua- The other two may be selected from this list: Required core courses, plus: tion, job design and aspects of hiring; strategic interaction among industry competitors, includ- ACC 417. Auditing CIS 461. Strategy and Business Systems ing pricing and advertising; and the influence ACC 418. Taxes and Business Strategy Consulting Practicum (OMG 461) of external factors such as the regulatory and ACC 419. Positive Accounting Research macroeconomic environments. plus either ACC 423. Financial Reporting I Skills offered by the STR curriculum will devel- CIS 415. Business Process Analysis and op the student’s ability to identify the root ACC 424. Financial Reporting II Design causes of business problems and sources of ACC 431.† International Financial Statement or new opportunities. The student will respond to Analysis OMG 415. Process Improvement these problems and opportunities with innova- CIS 446.† Financial Information Systems tive solutions and strat­egies based upon the (FIN 446) Three other electives must be selected from School’s economics-based approach to man- the following list: agement. The concentration holds particular CIS 512.† Advanced Topics in Database Design interest to those seeking careers in consulting, ACC 438. Auditing II—Auditing and Information FIN 413. Corporate Finance general management or industry analysis, Systems as well as those seeking an integrative com- Business Environment and CIS 416.† Advanced Information Technology plement to concentrations in other functional Public Policy (BPP) areas. Particular emphasis goes to developing the student’s capacity to deal with unstructured (4 courses) CIS 418. Business Modeling and Analysis for Management business situations. Business success requires an understanding Required core courses and STR 421. of the economic environment in which a firm CIS 440. Electronic Commerce Strategy operates. The Business Environment and CIS 446.† Financial Information Systems Must complete a minimum of four additional Public Policy concentration provides the skills (FIN 446) courses in the STR area: required to achieve this understanding. MKT 437. Digital Marketing Strategy STR 422. Game Theory for Managers Required core courses, plus four other cours- MKT 436. Marketing Analytics es­. At least two of the four must be selected STR 423. Pricing Policies (MKT 414) OMG 411. Supply Chain Management from this list: STR 424. Human Resource Strategy OMG 412. Service Management STR 427. Organizational Behavior BPP 426. Macroeconomics OMG 413. Operations Strategy STR 429. Advanced Competitive BPP 431.† Legal and Tax Considerations of OMG 416. Project Management Strategy New Ventures (ENT 431)

25 † Not offered in 2014-2015 Simon Business School Course Catalog 2014-2015

STR 430. Health Science Management and (Counting only the one not taken to satisfy the At least one of: Strategy above list) CIS 415. Business Process Analysis and STR 438. B2B Pricing Design A student completing these courses satisfies STR 439. Advanced Pricing the requirements for both the Competitive and CIS 416.† Advanced Information Technology STR 440. Corporate Governance Organizational Strategy and the Marketing con- centrations. Two additional courses selected from the STR 442. Special Topics in Strategy (not following list: offered every year) Computers and Information STR 461. Strategy and Business Consulting Systems (CIS) ACC 438. Auditing II—Auditing and Information Practicum Systems (4 courses) CIS 418. Business Modeling and Analysis for The Computers and Information Systems area Management Pricing Track enjoys international recognition for its inno- CIS 440. Electronic Commerce Strategy (6 courses) vative research and teaching programs. The CIS concentration, taken by itself or combined CIS 446.† Financial Information Systems The Pricing Track is offered for those students (FIN 446) who desire a state-of-the-art training in pricing with another functional concentration such as and for those interested in pursuing a career accounting, electronic commerce, finance or CIS 512.† Advanced Topics in Database Design in pricing. The track resides within both the operations management, prepares students to ­ray of information-systems MKT 437. Digital Marketing Strategy Competitive and Organizational Strategy and manage the broad ar issues that arise in every organization or to act MKT 436. Marketing Analytics the Marketing concentrations and leverages as successful management consultants. our School’s strengths in economics and mar- keting analytics. The program focuses on the leading ap­proach- Corporate Accounting (ACC) es used in the design and development of The Pricing Track is offered by the Competitive effective business processes that leverage (5 courses) and Organizational Strategy and Marketing information technology. It also emphasizes the Corporations actively recruit MBA ac­count­ing faculty at the Simon School to enable students major business issues that arise in choosing majors for positions in the offices of control- to integrate their knowledge of analytic mar- information technologies, designing informa- ler, treasurer and internal auditing, as well as keting, cost accounting, finance, managerial tion processes for im­proving the effectiveness in accounting departments. Many corporate economics, operations and strategy through of specific applications and using enterprise finance positions also re­quire strong corporate the application of pricing optimization tools and information technology for gaining competi- accounting backgrounds. technologies to deliver profitable pricing strate- tive benefits. The concentration develops the gies for their organizations. Required core courses, plus: necessary skills for managing in the current A student wishing to take the Pricing Track environment of rapid technological evolution, should complete the following five required increased competition and global markets. The ACC 411. Financial Statement Analysis courses: placement of Simon CIS students in retail or ACC 423. Financial Reporting I investment banks, Fortune 500 manufacturers ACC 424. Financial Reporting II STR 423. Pricing Policies (MKT 414) and international consulting companies has Plus two courses selected from this list: (Should be taken before courses listed below) been very strong. Typical CIS careers include electronic commerce leadership, the man- ACC 410. Accounting for Management and STR 438. B2B Pricing (MKT 438) agement of corporate information systems, Control or business process re-engineering and general management consulting. ACC 417. Auditing STR 439. Advanced Pricing (MKT 439) In the required courses, students learn how ACC 418. Taxes and Business Strategy STR 421. Competitive Strategy to analyze the fundamental subjects of busi- ACC 419. Positive Accounting Research Mark MKT 412. eting Research ness information and decision processes in ACC 431.† International Financial Statement MKT 436. Marketing Analytics organizations, and the resulting economic Analysis and technological trade-offs. In the advanced In addition to these required courses, the electives, students can study various aspects of FIN 411. Investments school requires one additional course from the electronic commerce, business process design, FIN 413. Corporate Finance list below: advanced information technologies, finan- FIN 423.† Corporate Financial Policy and ACC 410. Accounting for Management and cial-information systems and business data Control Control communications systems. A technical background prior to entering the GBA 435. Negotiation Theory and Practice: Entrepreneurship (ENT) Bargaining for Value (ENT 435) MBA program is not a prerequisite to success in the CIS concentration. (5 courses) STR 422. Game Theory for Managers Required core courses, plus: Entrepreneurship education is becoming STR 438. B2B Pricing (MKT 438) CIS 413. The Economics of Information increasingly important given the current glob- or Management al economic climate. The Entrepreneurship STR 439. Advanced Pricing (MKT 439) concentration allows students to draw from a

26 † Not offered in 2014-2015 Simon Business School Course Catalog 2014-2015 variety of carefully selected courses to become state-of-the-art techniques for financial anal- Required core courses, plus five additional a business generalist, well versed in organizing ysis. Students learn to formulate and solve courses as follows: and managing resources. The Simon School important corporate finance problems and to has a legacy of educating entrepreneurs. obtain information from the many databases on At least two of: Graduates with this concentration have started financial markets. HSM 420. Business Economics of the Health their own ventures or have pursued “intra- Required core courses, plus: Care Industry preneurial” careers with major corporations. HSM 430. Health Sciences Management and Students often combine that concentration with Strategy (STR 430) finance or marketing to further enhance their FIN 411. Investments educational base. This is especially true for FIN 413. Corporate Finance HSM 431. Applications of Corporate Finance those pursuing investment banking and merg- and Governance to Health Care Plus three courses selected from this list: ers and acquisitions where the entrepreneur- HSM 437. Managing Health Care Operations ship knowledge can be very useful. ACC 411. Financial Statement Analysis (OMG 437) Required core courses, plus: ACC 423. Financial Reporting I HSM 440. Evolving Medical Markets (BPP 440) ACC 424. Financial Reporting II The remaining courses can be taken from the Generating and Screening ENT 422. ACC 431.† International Financial Statement list below: Entrepreneurial Ideas (GBA 422) Analysis ACC 411. Financial Statement Analysis ENT 444.† Entrepreneurial Finance (FIN 444) BPP 426. Macroeconomics CIS 415. Business Process Analysis and Plus one of: FIN 423.† Corporate Financial Policy and Design ENT 423. New Venture Development and Control HSM 425. Managerial Accounting for Health Managing for Long Term Success FIN 424. Options and Futures Markets Care Organizations (ACC 445) (GBA 423) FIN 430. Financial Institutions OMG 412. Service Management or FIN 433. Cases in Finance STR 421. Competitive Strategy ENT 425. Technical Entrepreneurship FIN 434. Investment Management and STR 424. Human Resource Strategy Plus two courses selected from this list: Trading Strategies ACC 411. Financial Statement Analysis FIN 442.† International Economics and Finance Courses taught at the University of Roch­ester (BPP 442) School of Medicine and Dentistry, Department ENT 424.† Projects in Entrepreneurship FIN 444. Entrepreneurial Finance (ENT 444) of Community and Preventive Medicine may (GBA 424) be eligible for credit towards your MBA Health ENT 426.† Technology Transfer and FIN 446.† Financial Information Systems Sciences Management elective. Please contact Commercialization (GBA 426) (CIS 446) your area coordinator for details. ENT 427.† Practicum in Technology Transfer FIN 448. Fixed-Income Securities and Commercialization (GBA 427) FIN 511. Advanced Financial Economics International Management ENT 431.† Legal and Tax Considerations of FIN 532. Advanced Topics in Capital Markets New Ventures (BPP 431) The International Management concentration FIN 534.† Advanced Topics in Corporate gives students opportunities to apply various ENT 432. Basic Business Law (BPP 432) Finance disciplines to international markets. Differences ENT 435. Negotiation Theory and Practice: HSM 431. Applications of Corporate Finance in legal environments, currencies and work- Bargaining for Value (GBA 435) and Governance to Health Care place practices among countries provide both FIN 433. Cases in Finance STR 440. Corporate Governance challenges and problems for businesses oper- ating in the global marketplace. FIN 441A. Special Topics in Finance—Real Estate One of two options will satisfy the concen- Health ScienceS Management tration. The International Management GBA 482.† Business Policy (HSM) option includes one required course and three MKT 412. Marketing Research (5 courses) electives. The International Man­agement Exchange option includes one required MKT 414. Pricing Policies (STR 423) The Health Sciences Management con­centra­ course, one elective and one term (minimum tion draws on the Simon School’s proven MKT 432. New Product Strategy of six credits) in an approved International strengths and directs them to a dynamic Exchange Program. OMG 461. Strategy and Business Systems industry. The Simon School’s concentration Consulting Practicum (CIS 461) focuses primarily on two management issues: STR 421. Competitive Strategy ongoing operations and strategic planning. International Management (ITL) This is in contrast to the traditional Master of (4 courses) Public Health programs which generally focus Finance (FIN) on public policy issues. The program especially Required core courses, plus: (5 courses) suits future health sciences consultants and FIN 442.† International Economics and Finance front-line managers in health maintenance The Simon School is best known for its (BPP 442) organizations, hospitals, insurance companies research and scholarship in the area of finance. and pharmaceutical firms. Plus three courses selected from this list: This concentration provides students with

27 † Not offered in 2014-2015 Simon Business School Course Catalog 2014-2015

ACC 431.† International Financial Statement consulting. Spe­cial­ized programs are offered Brand Management Track Analysis to students interested in brand management. (5 courses) BPP 426. Macroeconomics In addition, many students have combined marketing with another discipline to round out For those students wishing to become brand/ GBA 435. Negotiation Theory and Practice: their education. Popular combinations include product managers in either the consumer Bargaining for Value (ENT 435) marketing/finance, marketing/operations man- or industrial products markets or in financial GBA 486.† Management of Technology agement, and marketing/electronic commerce. services, a unique Brand Manage­ment Track is offered. (ENT 486) The Marketing curriculum emphasizes the inte- GBA 494. Foreign Language Transfer Credit gration of applications with theory. Applications Participation in the program requires taking (three credits) are introduced via cases, expe­rien­tial exercis- MKT 412 (Mar­keting Research), MKT 441 (Brand Management) and choosing three MKT 449. Global Marketing Strategy es, guest speakers and proj­ects. Elective cours- es provide oppor­tu­ni­ties to pursue specific courses out of: OMG 413. Operations Strategy interests in marketing. MKT 414. Pricing Policies (STR 423) STR 421. Competitive Strategy The Marketing concentration requirements MKT 432. New Product Strategy STR 424. Human Resource Strategy consist of the required core courses and electives chosen to satisfy the additional MKT 433. Advertising Strategy requirements of one of the following three MKT 435. Channels Strategy International Management tracks—the Marketing Strategy track, the Brand MKT 448.† Brand Strategy Exchange (ITLE) Management track, or the Pricing track—spec- ified below. Two courses at the Simon School, plus Pricing Track International Exchange Program (see the (6 courses) International Exchange Programs chart on Marketing Strategy Track p. 63). The Pricing track is offered for those students (5 courses) who desire a state-of-the-art training in pricing FIN 442.† International Economics and Finance The Marketing Strategy track emphasizes the and for those interested in pursuing a career (BPP 442) use of marketing principles for developing and in pricing. The track resides within both the implementing a firm’s product-market strate- Competitive and Organizational Strategy and Plus one course selected from this list: gies in the marketplace. the Marketing concentrations and leverages ACC 431.† International Financial Statement Students in the Marketing Strategy track must our School’s strengths in economics and mar- Analysis take MKT 412 (Marketing Research), along keting analytics. BPP 426. Macroeconomics with four elective courses from the following The Pricing Track is offered by the Competitive list. At least two of those electives must be and Organizational Strategy and Marketing GBA 435. Negotiation Theory and Practice: from Group A. faculty at the Simon School to enable students Bargaining for Value (ENT 435) to integrate their knowledge of analytic mar- GBA 486.† Management of Technology Group A keting, cost accounting, finance, managerial (ENT 486) economics, operations and strategy through MKT 414. Pricing Policies (STR 423) GBA 494. Foreign Language Transfer Credit the application of pricing optimization tools and (three credits) MKT 432. New Product Strategy technologies to deliver profitable pricing strate- gies for their organizations. MKT 449. Global Marketing Strategy MKT 433. Advertising Strategy MKT 435. Channels Strategy A student wishing to take the Pricing Track OMG 413. Operations Strategy should complete the following five required STR 421. Competitive Strategy courses: STR 424. Human Resource Strategy Group B HSM 440. Evolving Medical Markets (BPP 440) Plus one term in one of the approved STR 423. Pricing Policies (MKT 414) International Exchange Programs (GBA 492—six MKT 431. Consumer Behavior (Should be taken before courses listed below) credits; GBA 493—nine credits). MKT 436. Marketing Analytics STR 438. B2B Pricing (MKT 438) MKT 437. Digital Marketing Strategy or Marketing (MKT) MKT 438. B2B Pricing (STR 438) STR 439. Advanced Pricing (MKT 439) Marketing knowledge and skills have become MKT 441. Brand Management STR 421. Competitive Strategy a necessity in today’s increasingly competitive MKT 442. Special Topics in Marketing global business environment. Regardless of the MKT 412. Marketing Research MKT 448.† Brand Strategy kind of business—consumer goods or industrial MKT 436. Marketing Analytics goods, financial services or the non-profit sec- MKT 449. Global Marketing Strategy In addition to these required courses, the tor—success depends on satisfying the custom- MKT 451. Advanced Marketing Analytics school requires one additional course from the er better than one’s competitors. The Marketing list below: concentration at the Simon School prepares MBA students for these challenges. Alumni with ACC 410. Accounting for Management and Marketing concentrations now hold key posi- Control tions in marketing management, research and

28 † Not offered in 2014-2015 Simon Business School Course Catalog 2014-2015

GBA 435. Negotiation Theory and Practice: do not satisfy all the assumed prerequisites Bargaining for Value (ENT 435) will be advised of the additional courses that STR 422. Game Theory for Managers they must complete following a review of the undergraduate transcript. Students interested in completing this concentration should contact STR 438. B2B Pricing (MKT 438) Heidi Tribunella, clinical associate professor of or accounting, for a transcript review and academ- ic advisement. The New York State Department STR 439. Advanced Pricing (MKT 439) of Education will have final approval upon (Counting only the one not taken to satisfy the application for licensure. above list) Required core courses, plus:

A student completing these courses satisfies the requirements for both the Competitive and ACC 410. Accounting for Management and Organizational Strategy and the Marketing con- Control centrations. ACC 411. Financial Statement Analysis ACC 417. Auditing Operations Management ACC 418. Taxes and Business Strategy (4 courses) ACC 419. Positive Accounting Research Operations Management is concerned with ACC 423. Financial Reporting I the management of a firm’s physical, financial ACC 424. Financial Reporting II and human resources with the objective of producing, distributing and selling goods and ACC 436. Research Into Professional services. Operations Management has become Accounting Standards increasingly important due to re­newed interest ACC 437. Basic Federal Income Tax in productivity and the utilization of operations Accounting for competitive ad­van­tage. ACC 438. Auditing II—Auditing and Required core courses, plus four out of the Information Systems following: BPP 432. Basic Business Law (ENT 432) OMG 411. Supply Chain Management FIN 411. Investments OMG 412. Service Management FIN 413. Corporate Finance OMG 413. International Manufacturing and MGC 401–3.** Communicating Business Service Strategy Decisions (Modules I, II, and III) OMG 415. Process Improvement OMG 416. Project Management By fulfilling the Public Accounting concentra- CIS 415. Business Process Analysis and tion requirements, students will also fulfill the Design Finance concentration requirements and the *Experience has shown that students pursuing Corporate Ac­count­ing concentration require- a career in Operations Management benefit ments. from taking additional courses such as STR *This concentration requires 13 electives, 11 of 424 (Human Resource Strategy) or STR 427 which are included in the requirement for the (Organizational Behavior). full-time MBA. The final two courses necessary to complete this concentration are offered free Public Accounting (CPA) ofcharge. (13 courses*) **MGC 401, MGC 402, and MGC 403 are required for full-time and part-time students The Public Accounting concentration offers pursuing the Public Accounting concentration. courses needed toward the requirements for the Uniform Certified Public Account­ing (CPA) examination in New York and other states. Assuming that students have met certain undergraduate prerequisite requirements, this program has been designated by the New York State Education Department as fulfilling the 150 credit hour requirements for professional education programs in public accountancy. Students whose undergraduate programs

29 † Not offered in 2014-2015 Simon Business School Course Catalog 2014-2015

MASTER OF SCIENCE PROGRAMS MASTER OF SCIENCE Students whose undergraduate programs ACC 411. Financial Statement Analysis do not satisfy all the assumed prerequisites ACC 417. Auditing IN ACCOUNTANCY­ will be advised of the additional courses that Focused Graduate Training in Accountancy they must complete following a review of their ACC 419. Positive Accounting Research The Master of Science in Accountancy pro- undergraduate transcript. The New York State ACC 423. Financial Reporting I gram is designed for students who hold a Education Department will have final approv- bachelor’s degree in business, economics or al upon application for licensure. The MS in ACC 424. Financial Reporting II accounting and seek to pursue Certified Public Accountancy program can be completed on a ACC 436. Research Into Professional Accounting (CPA) licensure. New York State, full-time or a part-time basis. Students should Accounting Standards as well as most other states, has adopted a contact Heidi Tribunella, clinical associate pro- 150 credit hour educational requirement which fessor of accounting, for academic advisement. ACC 437. Basic Federal Income Tax Accounting can be satisfied with a combination of under- Students take nine required courses, two graduate and graduate courses. The courses electives plus the Communicating Business ACC 438. Auditing II—Auditing and Information listed below are those which are required for Decisions course sequence. A 3.0 grade point Systems the MS in Accountancy degree. Assuming that average is required for graduation. students have met certain undergraduate pre- BPP 432. Basic Business Law (ENT432) requisite requirements this program has been MGC 401–3** Communicating Business designated by the New York State Education Decisions (Modules I, II and III) Department as fulfilling the 150 credit hour requirements for professional education pro- Elective Accounting or Business grams in public accountancy. Elective Business ** Required for all full-time students only MS in Accountancy (Fall Mini - August Start) FALL MINI - FALL A (5 wks) FALL QUARTER - FALL C WINTER SPRING BPP 432/ENT 432 ACC 423 (MS) ACC 437 (E) ACC 424 (MS) Basic Business Law Financial Reporting I Basic Federal Income Tax Financial Reporting II Billable Credits: 3 Total Credits: 3 Billable Credits: 3 Total Credits: 3 Accounting Billable Credits: 3 Total Credits: 3 Billable Credits: 3 Total Credits: 3

ACC 436 (E) ACC 419 (E) ACC 411 (E) Research Into Professional Positive Accounting Research Financial Statement Analysis Accounting Standards Billable Credits: 3 Total Credits: 3 Billable Credits: 3 Total Credits: 3 Billable Credits: 3 Total Credits: 3

ACC 417 (E) ACC 438 (E) Auditing Auditing II --- Auditing and Billable Credits: 3 Total Credits: 3 Information Systems Billable Credits: 3 Total Credits: 3 Elective* Elective* Elective* Billable Credits: 3 Total Credits: 3 Billable Credits: 3 Total Credits: 3 Billable Credits: 3 Total Credits: 3

CMC Programming MGC 401 MGC 402 MGC 403 Communicating Business Communicating Business Communicating Business Decisions I Decisions II Decisions III Billable Credits: 1 Total Credits: 1 Billable Credits: 0 Total Credits: 1 Billable Credits: 0 Total Credits: 1 Fall A + Fall C Billable Credit Hours: 13-16 Winter Billable Credit Hours: 9-12 Spring Billable Credit Hours: 9 Fall A + Fall C Total Credit Hours: 13-16 Winter Total Credit Hours: 10-13 Spring Total Credit Hours: 10 Degree Billable Credit Hours: 31-37 Degree Total Credit Hours: 33-39

* MS Accountancy students are required to take one business and one accounting/business elective during their program of study. The accounting/ business elective is dependent on the student’s undergraduate studies. Students will be advised during orientation as to what their particular elective requirements are. For any academic questions regarding MS Accountancy, please contact Professor Heidi Tribunella. (E) - Evening Class (MS) - Master’s Level 30 Simon Business School Course Catalog 2014-2015 MASTER OF SCIENCE IN FINANCE GBA 461.* Core Economics for MS Students Part-time students are required to complete 12 courses of which the following are required: ­The Master of Science Finance is available as GBA 462.* Core Statistics for MS Students follows for full-time study: MGC 401–3** Communicating Business ACC 401.♦ Corporate Financial Accounting Program Requirements (without a prior MBA) Decisions (Modules I, II, and III) ACC 410. Accounting for Management and Control The MS requires the completion of 46 cred- Plus six electives from the following: it-hours. There are eight required core classes ACC 410. Accounting for Management and FIN 402.♦ Capital Budgeting and Corporate plus the Communicating Business Decisions Control Objectives course sequence and six additional courses FIN 411. Investments which must be chosen from available electives. ACC 424. Financial Reporting II FIN 413. Corporate Finance Students who study on a full-time basis com- CIS 418. Advanced Business Modeling plete the program in 11 months, beginning in and Analysis Using Spreadsheets GBA 412.♦ Framing and Analyzing Business August each year. A 3.0 grade point average is FIN 424. Options and Futures Markets Problems II required for graduation. STR 401.♦ Managerial Economics Required courses: FIN 430. Financial Institutions STR 403. Organization and Strategy ACC 401.♦ Corporate Financial Accounting FIN 433. Cases in Finance ACC 411. Financial Statement Analysis Program Requirements (with a prior MBA) FIN 434. Investment Management and Students with a prior MBA can exempt out of FIN 402.♦ Capital Budgeting and Corporate Trading Strategies Objectives GBA 461 and GBA 462 and substitute other FIN 442. International Economics and Finance Finance electives for FIN 402 and ACC 401, FIN 411. Investments (BPP 442) thereby lowering the credit hours by seven (six FIN 413. Corporate Finance FIN 444. Entrepreneurial Finance (ENT 444) billable) and enabling them to begin the FALL C quarter (taking four courses). FIN 448. Fixed-Income Securities STR 403. Organization and Strategy MS in Finance (Fall Mini - August Start) FALL MINI - FALL A (5 wks) FALL QUARTER - FALL C WINTER SPRING GBA 461 (MS) FIN 411 (MS) ACC 411 (MS) T ake 4 out of: Core Economics for MS Students Investments Financial Statement Analysis ACC 410 (MS) Billable Credits: 3 Total Credits: 3 Billable Credits: 3 Total Credits: 3 Billable Credits: 3 Total Credits: 3 Accounting for Management and Control ACC 424 (MS) Financial Reporting II GBA 462 (MS) ACC 401 (MS) FIN 448 (MS) FIN442 (E) or BPP426 Core Statistics for MS Students Corporate Financial Accounting Fixed Income Securities International Economic and Finance or Billable Credits: 3 Total Credits: 3 Billable Credits: 3 Total Credits: 4 Billable Credits: 3 Total Credits: 3 Macroeconomics FIN444 (MS) or FIN441B (MS) FIN 402 (MS) FIN 413 (MS) T ake 2 out of: Entrepreneurial Finance or Private Equity Capital Budgeting and Corpo- Corporate Finance STR 403 (MS) CIS 418 (MS) rate Objectives Billable Credits: 3 Total Credits: 3 Organization and Strategy Advanced Business Modeling Billable Credits: 3 Total Credits: 3 FIN 433 (MS) FIN 430 (MS) Cases in Finance Financial Institutions FIN 424 FIN434 (E) Options and Futures Investment and Trading Strategies Billable Credits: 6 Total Credits: 6 FIN 441A (MS) Real Estate FIN441C (MS) Project Course Billable Credits: 12 Total Credits: 12 CMC Programming MGC 401 MGC 402 MGC 403 Communicating Business Communicating Business Communicating Business Decisions III Decisions I Decisions II Billable Credits: 0 Total Credits: 1 Billable Credits: 1 Total Credits: 1 Billable Credits: 0 Total Credits: 1 Fall A + Fall C Billable Credit Hours: 19 Winter Billable Credit Hours: 12 Spring Billable Credit Hours: 12 Fall A + Fall C Total Credit Hours: 20 Winter Total Credit Hours: 13 Spring Total Credit Hours: 13 Degree Billable Credit Hours: 43 Degree Total Credit Hours: 46

* Required for all full-time and part-time students 31 ♦ Allowed for non-matriculated students (max of 2 courses) ** Required for all full-time students only Simon Business School Course Catalog 2014-2015 MASTER OF SCIENCE IN Program Requirements includes nine core Choose one of the following plus two of any MANAGEMENT courses (below) plus the Communicating evening or MS section electives: Business Decisions course sequence: ­The program requires completion of 12 classes FIN 411. (MS) Investments. plus the Communicating Business Decisions ACC 401.♦ Corporate Financial Accounting FIN 413. (MS) Corporate Finance course sequence. Nine of these are required CIS 401.♦ Information Systems for MKT 414. Pricing Policies (STR 423) core classes that cover the principles of Management GBA 444. FACt Business Project finance, accounting, marketing, operations, information systems, managerial economics FIN 402.♦ Capital Budgeting and Corporate and data-driven managerial decision making. Objectives Part-time students are required to complete The three remaining classes are electives that GBA 411.♦ Framing and Analyzing Business 12 courses, substituting GBA 411, GBA 461, and students can choose according to their inter- Problems 1 GBA 462, with the following courses: est. A student pursuing the Master of Science GBA 461. Core Economics for MS Students in Management on a full-time basis completes GBA 412.♦ Framing and Analyzing Business the program in eleven months. Part-time sched- GBA 462. Core Statistics for MS Students Problems II uling opportunities are also available. A 3.0 MKT 402.♦Marketing Management STR 401.♦ Managerial Economics grade point average is required for graduation. OMG 402. Operations Management STR 421. Competitive Strategy STR 403. Organization and Strategy MGC 401-3.** Communicating Business Decisions (Modules I, II and III)

MS in Management (Fall Mini - August Start) FALL MINI - FALL A (5 wks) FALL QUARTER - FALL C WINTER SPRING GBA 461 (MS) ACC 401 (MS) GBA 411 (E) OMG 402 (E) Core Economics for MS Students Corporate Financial Accounting Framing and Analyzing Business Operations Management Billable Credits: 3 Total Credits: 3 Billable Credits: 3 Total Credits: 4 Problems 1 Billable Credits: 3 Total Credits: 3 Billable Credits: 3 Total Credits: 4

GBA 462 (MS) MKT 402 (E) STR 403 (MS) Elective Core Statistics for MS Students Marketing Management Organization and Strategy Take 2 of any Evening or MS Billable Credits: 3 Total Credits: 3 Billable Credits: 3 Total Credits: 3 Billable Credits: 3 Total Credits: 3 Section Elective

Billable Credits: 6 Total Credits: 6 FIN 402 (MS) Elective CIS 401 (E) Capital Budgeting and Take 1 of: Information Systems for Corporate Objectives Management Billable Credits: 3 Total Credits: 3 FIN 411 (MS) Billable Credits: 3 Total Credits: 4 FIN 413 (MS) MKT 414 (E) Billable Credits: 3 Total Credits: 3 CMC Programming MGC 401 MGC 402 MGC 403 Communicating Business Communicating Business Communicating Business Decisions I Decisions II Decisions III Billable Credits: 1 Total Credits: 1 Billable Credits: 0 Total Credits: 1 Billable Credits: 0 Total Credits: 1 Fall A + Fall C Billable Credit Hours: 19 Winter Billable Credit Hours: 9 Spring Billable Credit Hours: 9 Fall A + Fall C Total Credit Hours: 20 Winter Total Credit Hours: 12 Spring Total Credit Hours: 10 Degree Billable Credit Hours: 37 Degree Total Credit Hours: 42 ** Required for all full-time students only ♦ Allowed for non-matriculated students (max of 2 courses) (E) - Evening Class (MS) - Master’s Level

32 Simon Business School Course Catalog 2014-2015

MASTER OF SCIENCE IN BUSINESS Students approved for the full-time program ENT 441. Medical Entrepreneurship ADMINISTRATION WITH A must complete the following course require- HSM 425. Managerial Accounting for Health CONCENTRATION IN HEALTH CARE ments: Care Organizations (ACC 445) MANAGEMENT­ (FULL-TIME PROGRAM­) Business Core: HSM 430. Health Sciences Management and Strategy (STR 430) ­The Simon School’s one-year, full-time Master ACC 401. Corporate Financial Accounting of Science in Business Administration with a HSM 431. Applications of Corporate Finance FIN 402. Capital Budgeting and Corporate and Governance to Health Care concentration in Health Care Management Objectives Organizations offers students the grounding in business GBA 461. Core Economics for MS Students issues that leads to a successful career in the HSM 440. Evolving Medical Markets (BPP 440) GBA 462. Core Statistics for MS Students health-care industry. Students take core classes Approved business electives (select at least two): in business analysis, finance, accounting, and HSM 437. Managing Health Care Operations (OMG 437) economics, as well as health-care specific ACC 411. Financial Statement Analysis classes in a variety of areas. MGC 401–3. Communicating Business CIS 401. Information Systems for Decisions (Modules I, II and III) Management The program offers students a choice of two Health Care Core: CIS 415.* Business Process Analysis and elective tracks: the health care technology and Design supply management track, and the financing HSM 420. Business Economics of the Health Care Industry ENT 425. Technical Entrepreneurship and health care delivery track. Students are welcome to design their own elective track HSM 455. Practicum in Medical Management FIN 413. Corporate Finance from the list of allowable electives. The health MKT 402. Marketing Management Students must also take five elective courses care technology and supply management OMG 412. Service Management for the degree, at least two of which must be track focuses on operations, IT, marketing, and selected from a list of approved health care OMG 461. Strategy and Business Systems entrepreneurship. The financing and health electives and at least two of which must be Consulting Practicum (CIS 461) care delivery track looks at administration, con- selected from an approved list of business Students may petition to add (and take) anoth- sulting, and health insurance. Students finalize electives. er Simon School course to the list above, but the program with a capstone project, acting as approval for this substitution is at the discretion consultants in a health care organization solv- Approved health care electives (select at least two): of the program director. ing actual business problems. ENT 425. Technical Entrepreneurship *CIS 415 requires CIS 401 as a prerequisite.

MS BA: Health Care Management (Fall Mini - August Start) FALL MINI - FALL A (5 wks) FALL QUARTER - FALL C WINTER SPRING GBA 461 (MS) ACC 401 (MS) Elective* HSM 437 Core Economics for MS Students Corporate Financial Accounting Billable Credits: 3 Total Credits: 3 Managing Health Care Opera- Billable Credits: 3 Total Credits: 3 Billable Credits: 3 Total Credits: 4 tions Billable Credits: 3 Total Credits: 3

GBA 462 (MS) HSM 420 Elective* Elective* Core Statistics for MS Students Bus Econ of Health Care Ind. Billable Credits: 3 Total Credits: 3 Billable Credits: 3 Total Credits: 3 Billable Credits: 3 Total Credits: 3 Billable Credits: 3 Total Credits: 3

FIN 402 (MS) HSM 455 Elective* Elective* Capital Budgeting and Practicum in Medical Management Billable Credits: 3 Total Credits: 3 Billable Credits: 3 Total Credits: 3 Corporate Objectives Billable Credits: 3 Total Credits: 3 Billable Credits: 3 Total Credits: 3 (Billed in Fall B, project continued through Spring) CMC Programming MGC 401 MGC 402 MGC 403 Communicating Business Decisions I Communicating Business Communicating Business Billable Credits: 1 Total Credits: 1 Decisions II Decisions III Billable Credits: 0 Total Credits: 1 Billable Credits: 0 Total Credits: 1 Fall A + Fall C Billable Credit Hours: 19 Winter Billable Credit Hours: 9 Spring Billable Credit Hours: 9 Fall A + Fall C Total Credit Hours: 20 Winter Total Credit Hours: 10 - 11 Spring Total Credit Hours: 10 - 11 Degree Billable Credit Hours: 37 Degree Total Credit Hours: 40 - 41

* One approved business elective is CIS401, which contains a one-credit lab which is non-billable.

33 Simon Business School Course Catalog 2014-2015

MASTER OF SCIENCE IN BUSINESS The core curriculum includes: which follows. ADMINISTRATION WITH A ACC 401. Corporate Financial Accounting OMG 411. Supply Chain Management CONCENTRATION IN INFORMATION SYSTEMS MANAGEMENT CIS 401.*♦ Information Systems for OMG 413. Operations Strategy Management ­The Information Systems Management con- STR 403. Organization and Strategy centration appeals to professionals committed CIS 413. The Economics of Information to careers in information systems and who Management need management expertise. The program Part-time students are required to complete CIS 415.♦ Business Process Analysis and 42 credits substituting GBA 461 and GBA462 emphasizes both management principles and Design an understanding of the modern technical with the following required courses: CIS 440. Electronic Commerce Strategy aspects of information systems in an organi- GBA 412. Framing and Analyzing Business zation. FIN 402. Capital Budgeting and Corporate Problems II Objectives The concentration is offered on a full- time and STR 401. Managerial Economics part-time basis and requires the completion of GBA 411.♦ Framing and Analyzing Business a minimum of eight required courses and four Problems 1 electives, plus the Communicating Business GBA 461. Core Economics for MS Students Decisions course sequence. Students who study on a full-time basis complete the program GBA 462. Core Statistics for MS Student in nine months beginning in the fall. A 3.0 OMG 402.*Operations Management grade point average is required for graduation. OMG 412. Service Management MGC 401–3.**Communicating Business Decisions (Modules I, II and III) Plus one elective from the list of electives

MS BA: Information Systems Management (Fall Mini - August Start) FALL MINI - FALL A (5 wks) FALL QUARTER - FALL C WINTER SPRING GBA 461 (MS) CIS 415 (E) CIS 401 (E) CIS 440 (E) Core Economics for MS Students Business Process Analysis and Information Systems for Ecommerce strategy Billable Credits: 3 Total Credits: 3 Design Management Billable Credits: 3 Total Credits: 3 Billable Credits: 3 Total Credits: 3 Billable Credits: 3 Total Credits: 4

GBA 462 (MS) ACC 401 (MS) GBA 411 (E) CIS 413 (E) Core Statistics for MS Students Corporate Financial Accounting Framing and Analyzing Business Econ of Information Management Billable Credits: 3 Total Credits: 3 Billable Credits: 3 Total Credits: 4 Problems 1 Billable Credits: 3 Total Credits: 3 Billable Credits: 3 Total Credits: 4

FIN 402 (MS) OMG 402 (E) OMG 412 (E) Elective Capital Budgeting and Operations Management Service Management Billable Credits: 3 Total Credits: 3 Corporate Objectives Billable Credits: 3 Total Credits: 3 Billable Credits: 3 Total Credits: 3 Billable Credits: 3 Total Credits: 3 CMC Programming MGC 401 MGC 402 MGC 403 Communicating Business Decisions I Communicating Business Communicating Business Billable Credits: 1 Total Credits: 1 Decisions II Decisions III Billable Credits: 0 Total Credits: 1 Billable Credits: 0 Total Credits: 1 Fall A + Fall C Billable Credit Hours: 19 Winter Billable Credit Hours: 9 Spring Billable Credit Hours: 9 Fall A + Fall C Total Credit Hours: 20 Winter Total Credit Hours: 12 Spring Total Credit Hours: 10 Degree Billable Credit Hours: 37 Degree Total Credit Hours: 42

* Required for all full-time and part-time students ♦ Allowed for non-matriculated students (max of 2 courses) ** Required for all full-time students only (E) - Evening Class (MS) - Master’s Level

The study grids contained in this book are current for the 2014-2015 academic year. While it is not expected that any billable credits will change for the 2015-2016 academic year, the arrangement of courses is subject to change.

34 Simon Business School Course Catalog 2014-2015

MASTER OF SCIENCE IN BUSINESS The core curriculum includes: Plus one elective from the list of elective below. ADMINISTRATION WITH A CIS 401.*♦ Information Systems for CONCENTRATION IN MANUFACTURING Management ACC 401. Corporate Financial Accounting or SERVICE­ MANAGEMENT­ FIN 402. Capital Budgeting and Corporate CIS 415. Business Process Analysis and These master’s degree programs provide man- Objectives Design agement training for individuals in manufac- turing or service management. The programs GBA 411.♦ Framing and Analyzing Business CIS 440. Electronic Commerce Strategy can help operations managers and industrial or Problems 1 STR 403. Organization and Strategy manufacturing engineers gain further expertise GBA 461. Core Economics for MS Students in operations management and stay current with the most recent developments in the field. GBA 462. Core Statistics for MS Students Part-time students are required to complete They are designed for individuals involved OMG 402*♦ Operations Management 42 credits substituting GBA 461 and GBA462 in operations, in manufacturing or in service OMG 411. Supply Chain Management with the following required courses: firms. More technical than the general MBA OMG 412. Service Management GBA 412. Framing and Analyzing Business degree, they may be earned by someone who Problems II already has an MBA without an Operations OMG 413. Operations Strategy STR 401. Managerial Economics Management concentration or by someone OMG 415.* Process Improvement without an MBA. The programs require 12 OMG 416* Project Management The area coordinator may permit substitution of an courses plus the Communicating Business advanced OMG or CIS course if the student has substantial Decisions course sequence for 42 credit-hours MGC 401–3.** Communicating Business work experience. of study with a 3.0 grade-point average, and Decisions (Modules I, II and III) are offered on a full- and part-time basis. Students will be helped in developing a per- sonal plan of study for this degree.

MS BA: Manufacturing or Service Management (Fall Mini - August Start) FALL MINI - FALL A (5 wks) FALL QUARTER - FALL C WINTER SPRING GBA 461 (MS) OMG 402 (E) CIS 401 (E) OMG 411 (E) Core Economics for MS Students Operations Management Information Systems for Manufacturing Management Billable Credits: 3 Total Credits: 3 Billable Credits: 3 Total Credits: 3 Management Billable Credits: 3 Total Credits: 3 Billable Credits: 3 Total Credits: 4

GBA 462 (MS) GBA 411 (E) OMG 412 (E) OMG 415 (E) Core Statistics for MS Students Framing and Analyzing Business Service Management Process Management Billable Credits: 3 Total Credits: 3 Problems 1 Billable Credits: 3 Total Credits: 3 Billable Credits: 3 Total Credits: 3 Billable Credits: 3 Total Credits: 4

FIN 402 (MS) OMG 416 (E) OMG 413 (E) Elective Capital Budgeting and Project Management Operations Strategy Billable Credits: 3 Total Credits: 3 Corporate Objectives Billable Credits: 3 Total Credits: 3 Billable Credits: 3 Total Credits: 3 Billable Credits: 3 Total Credits: 3 CMC Programming MGC 401 MGC 402 MGC 403 Communicating Business Decisions I Communicating Business Communicating Business Billable Credits: 1 Total Credits: 1 Decisions II Decisions III Billable Credits: 0 Total Credits: 1 Billable Credits: 0 Total Credits: 1 Fall A + Fall C Billable Credit Hours: 19 Winter Billable Credit Hours: 9 Spring Billable Credit Hours: 9 Fall A + Fall C Total Credit Hours: 20 Winter Total Credit Hours: 11 Spring Total Credit Hours: 10 Degree Billable Credit Hours: 37 Degree Total Credit Hours: 41

* Required for all full-time and part-time students ♦ Allowed for non-matriculated students (max of 2 courses) ** Required for all full-time students only (E) - Evening Class (MS) - Master’s Level

The study grids contained in this book are current for the 2014-2015 academic year. While it is not expected that any billable credits will change for the 2015-2016 academic year, the arrangement of courses is subject to change.

35 Simon Business School Course Catalog 2014-2015

MASTER OF SCIENCE IN BUSINESS Study is also offered on a part-time basis. Electives: Three of the following courses: ADMINISTRATION WITH A Students take nine required classes, plus three MKT 431. Consumer Behavior CONCENTRATION IN Marketing­ elective from the list provided. MKT 437. Digital Marketing Strategy The Simon School one-year master’s program Required: Eight courses for full-time students: MKT 438. B2B Pricing (STR 438) in marketing was designed to equip students GBA 461. Core Economics for MS Students with the skills and experience necessary to MKT 439. Advanced Pricing (STR 439) GBA 462. Core Statistics for MS Students excel in marketing jobs in a compact, highly MKT 442. Practicum in Pricing focused program. Students are likely to take a MKT 402.♦Marketing Management MKT 444. B2B Pricing job related to one of the program’s three main MKT 412. Marketing Research emphases: marketing research, consumer MKT 451. Advanced Marketing Analytics insights, advertising, and account manage- MKT 414. Pricing Policies (STR 423) ment. MKT 436. Marketing Analytics Part-Time Students Substitute GBA 461 and Students take eight classes during the regular MKT 442D Marketing Projects GBA 462 with the following two core courses: academic year, and three elective options in CIS 417 Introduction to Business Analytics the Spring quarter plus the Communicating GBA 412.♦*Framing and Analyzing Business Business Decisions course sequence. A 3.0 MGC 401–3.** Communicating Business Problems 2 grade point average is required for graduation. Decisions (Modules I, II and III) STR401.♦* Managerial Economics Students take the following courses to com- plete their degree. MS BA: Marketing (Fall Mini - August Start) FALL MINI - FALL A (5 wks) FALL QUARTER - FALL C WINTER SPRING GBA 461 (MS) MKT 402 (MS) MKT 412 (MS) MKT 442D (MS) Core Economics for MS Students Marketing Management Marketing Research Marketing Projects Billable Credits: 3 Total Credits: 3 Billable Credits: 3 Total Credits: 3 Billable Credits: 3 Total Credits: 3 Billable Credits: 3 Total Credits: 3 GBA 462 (MS) CIS 417 (MSD) MKT 436 (MS) Take 2 of: Core Statistics for MS Students Intro to Business Analytics Marketing Analytics MKT 442 (E) Billable Credits: 3 Total Credits: 3 Billable Credits: 3 Total Credits: 3 Billable Credits: 3 Total Credits: 3 Practicum in Pricing MKT 431 (MS) Consumer Behavior MKT 438 B2B Pricing MKT 444 (E) B2B Marketing MKT 451 (E) Advanced Marketing Analytics Billable Credits: 6 Total Credits: 6 MKT 414 (E) MKT 437 (MS) Pricing Policies Digital Marketing Strategy Billable Credits: 3 Total Credits: 3 or MKT 439 Advanced Pricing Billable Credits: 3 Total Credits: 3 CMC Programming MGC 401 MGC 402 MGC 403 Communicating Business Decisions I Communicating Business Communicating Business Billable Credits: 1 Total Credits: 1 Decisions II Decisions III Billable Credits: 0 Total Credits: 1 Billable Credits: 0 Total Credits: 1 Fall A + Fall C Billable Credit Hours: 16 Winter Billable Credit Hours: 9 Spring Billable Credit Hours: 9 Fall A + Fall C Total Credit Hours: 16 Winter Total Credit Hours: 10 Spring Total Credit Hours: 10 Degree Billable Credit Hours: 34 Degree Total Credit Hours: 36

* Required for all full-time and part-time students ♦ Allowed for non-matriculated students (max of 2 courses) ** Required for all full-time students only

36 Simon Business School Course Catalog 2014-2015

MASTER OF SCIENCE IN BUSINESS Logistics and Time Requirements • Development of marketing and business ADMINISTRATION WITH A The medical management master’s is spe- plans CONCENTRATION IN MEDICAL cifically designed to accommodate the busy • Quantifying strategy through financial analysis­ MANAGEMENT schedules of physicians and medical profes- • Implementing strategy by efficiently managing Management Tools sionals. The program consists of 30 credits and operations; and is offered on a part-time basis only. The Simon School offers a part-time MS pro- • Building efficient organizations for the long gram in Medical Management to provide phy- During a typical school quarter, the medical run, through intelligent work design, perfor- sicians, hospital administrators, and medical management student enrolls in a core class mance assessment and employee incentives. professionals with management tools and an that meets one night per week for ten weeks. understanding of the key business issues that During the same quarter, the student also takes The curriculum is presented in a unique format confront health care providers. The part-time a class on three separate weekends to cover that delivers the necessary depth of core busi- structure of the program allows health care the health care component of the module. ness material while simultaneously applying professionals to maintain their career and per- that material to the health care industry. This is accomplished through the pairing of Simon sonal commitments while in the program. The Curriculum program focuses on developing health care School core courses with health care manage- managers and leaders who will be confident in The curriculum is designed around four core ment courses that develop applications of the making key financial, operational, and strategic areas of management that are especially rel- core material. Each pair of courses (module) is decisions for their organizations. evant to health care: delivered and taken simultaneously­.

MS BA: Medical Management Part-Time Program FALL QUARTER WINTER QUARTER SPRING QUARTER SUMMER QUARTER FALL QUARTER HSM 450 HSM 425 HSM 437/OMG 437 STR 403 HSM 455 Medical Management Managerial Accounting for Managing Health Care Organization and Strategy Practicum in Medical Economics, Accounting, Health Care Organizations Operations Management 1 and Financial Primer

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

37 Simon Business School Course Catalog 2014-2015

MASTER OF SCIENCE IN BUSINESS Required courses: Plus one elective from the following: ADMINISTRATION WITH A GBA 411.♦ Framing and Analyzing Business ACC 410. Accounting for Management and CONCENTRATION IN PRICING­ Problems 1 Control The Master of Science in Business GBA 412.♦ Framing and Analyzing Business GBA 435. Negotiation Theory and Practice: Administration degree with a concentration in Problems 2 Bargaining for Value (ENT 435) pricing is designed to prepare students for a GBA 461. Core Economics for MS Student variety of pricing positions. By drawing on core STR 421. Competitive Strategy GBA 462. Core Statistics for MS Students material from economics, strategy, data anal- MKT 402.♦Marketing Management ysis, and marketing, students learn the skills Part-time students are required to complete necessary for pricing analysis, bid response, MKT 412. Marketing Research 40 credits substituting GBA 461 and GBA461 and other pricing support positions. The cours- MKT 414. Pricing Policies (STR 423) with the following required courses: es provide students with state-of-the-art frame- works and best practices for analysis of pricing MKT 436. Marketing Analytics GBA412. Framing and Analyzing Business situations and an introduction to the common MKT 438. B2B Pricing (STR 438) Problems II method- ologies and tools used in industry. MKT 439. Advanced Pricing (STR 439) STR401. Managerial Economics Students take ten required courses, two STR 422. Game Theory for Managers electrics plus the Communicating Decision MKT 422. MKT 440: Practicum in Pricing Sequence. MGC 401–3.** Communicating Business Decisions (Modules I, II and III)

MS BA: Pricing (Fall Mini - August Start) FALL MINI - FALL A (5 wks) FALL QUARTER - FALL C WINTER SPRING GBA 461* MKT 402 MKT 412 MKT/STR Core Economics for MS Students Marketing Management Marketing Research Practicum in Pricing Billable Credits: 3 Total Credits: 3 Billable Credits: 3 Total Credits: 3 Billable Credits: 3 Total Credits: 3 Billable Credits: 3 Total Credits: 3

GBA 462* MKT 414* MKT 436 MKT 438 Core Statistics for MS Students Pricing Policies (STR 423) Marketing Analytics B2B Pricing Billable Credits: 3 Total Credits: 3 Billable Credits: 3 Total Credits: 3 Billable Credits: 3 Total Credits: 3 Billable Credits: 3 Total Credits: 3

CIS 417 (MSD) MKT 439 MKT 451 Intro to Business Analytics Advanced Pricing Advanced Marketing Analytics Billable Credits: 3 Total Credits: 3 Billable Credits: 3 Total Credits: 3 Billable Credits: 3 Total Credits: 3

CMC Programming MGC 401 MGC 402 MGC 403 Communicating Business Decisions I Communicating Business Communicating Business Billable Credits: 1 Total Credits: 1 Decisions II Decisions III Billable Credits: 0 Total Credits: 1 Billable Credits: 0 Total Credits: 1 Fall A + Fall C Billable Credit Hours: 16 Winter Billable Credit Hours: 9 Spring Billable Credit Hours: 9 Fall A + Fall C Total Credit Hours: 16 Winter Total Credit Hours: 10 Spring Total Credit Hours: 10 Degree Billable Credit Hours: 34 Degree Total Credit Hours: 36

* Required for all full-time and part-time students ♦ Allowed for non-matriculated students (max of 2 courses) ** Required for all full-time students only (E) - Evening Class (MS) - Master’s Level This table is for illustrative purposes only. The layout of courses over the year will be affected by the scheduling of courses. Part-time students are encouraged to take STR 401, GBA 411, GBA 412, and MKT 402 before other courses in the study plan.

The study grids contained in this book are current for the 2014-2015 academic year. While it is not expected that any billable credits will change for the 2015-2016 academic year, the arrangement of courses is subject to change.

38 Simon Business School Course Catalog 2014-2015

JOINT- AND SPECIALIZED-DEGREE PROGRAMS The Simon School offers programs that allow The 3-2 Program For application information, contact: students to receive a first-rate business educa- In this program, students earn both a bache- tion tailored to their specific needs. In addition lor’s degree in an undergraduate major from Andrea Galati to the Full- and Part-Time MBA Programs, a few the University of Rochester and a master of Executive Director other opportunities are available to students business administration degree in five years. University of Rochester who wish to pursue coursework within a more In three years of undergraduate study at the specialized context of business management. Center for Entrepreneurship University, students complete their majors and 1-211 Carol Simon Hall These include the Joint- and Specialized- dis­tribu­tion requirements. Between January Degree Programs and a 3-2 MBA Program. and March of their junior year, qualified stu- Box 270360 The following is a list of the Joint- and dents apply to the Simon School. The first Rochester, N.Y. 14627-0360 Specialized-Degree Programs offered at the year of the MBA program is substituted for the (585) 276-3500 Simon School. Each specific entry includes a senior year. No merit-based scholarships are E-mail: [email protected] brief program description and contact details available to 3-2 students. However, during the Website: www.rochester.edu/team for further information. final year as an undergraduate, students main- tain any undergraduate financial assistance MD/MBA Program that is offered by the College. Visit www.simon. CORP Cooperative Residency Along with the Simon School, the School of rochester­.edu/applynow for application details. Experiences Medicine and Dentistry offers a combined The Cooperative Program will allow students to MD/MBA degree program in Health Sciences Technical Entrepreneurship And work a six-month paid internship supervised by Management. This program is designed to Management (TEAM) MS Program a senior manager, which enhances the learning prepare physician managers who can respond The one-year TEAM master’s degree program of students toward their career goals. This intelligently, effectively and creatively to the is offered jointly by the Simon School and co-op, due to its duration, will allow students to changing health care services industry. Only the Hajim School of Engineering and Applied gain significant experience and ability to utilize candidates with exceptional promise and aca- Sciences and is administered by the University classroom lessons in a work setting. All stu- demic records will be con­sidered. of Rochester Center for Entrepreneurship. This dents must complete a proposal indicating the sponsor of the program, the duties associated To participate in this program, students must program is designed for students with an engi- neering, science, or mathematics undergrad- with the co-op and the benefits the student apply to and be accepted by both the School of will receive toward his or her intended career Medicine and Dentistry and the Simon School. uate degree, who wish to pursue a master’s level technical education in combination with path. The student must also submit a plan of Students are also required to take both the study to the Senior Associate Dean for Faculty MCAT and GMAT exams. The program takes business and leadership courses. TEAM could also be considered a 4-1 program for University and Research who will review the student’s five years to com­plete—taken separately, the academic standing and will ensure that the stu- MD is four years and the MBA is two years. of Rochester undergraduate engineering stu- dents. dent can graduate on time. Students must meet Students start the program at the Simon School with the Career Management Center for further for the first-year core courses and some elec- Students accepted into the TEAM program may information and to determine eligibility. tives, and then move to the MD program on a choose any technical cluster, such as optics, full-time basis, completing the remaining Simon energy and the environment, computer sci- electives in their third and fourth years of med- ence, biomedical engineering, chemical engi- ical school. neering, electrical and computer engineering, For application information, contact: mechanical engineering or materials science. Students will simultaneously be taking courses John Hansen at the Simon School and the Hajim School. Associate Dean for Admissions Requirements include: University of Rochester • Three core management courses in the School of Medicine and Dentistry Simon School (one of which is a business 601 Elmwood Avenue plan development course) Box 601A • Three technical courses Rochester, N.Y. 14642-8603 • One additional course: either a technical (585) 275-4606 class or a business elective E-mail: [email protected] • A capstone practicum or To be considered for this program, students Rebekah Lewin must take either the GRE or GMAT exam. Assistant Dean for Admissions and Student Engagement The master of science degree will be con­ferred Simon School of Business by the Hajim School and the Simon School. 305 Schlegel Hall Rochester, N.Y. 14627-0107 (585) 275-3533 E-mail: [email protected] 39 Simon Business School Course Catalog 2014-2015

COURSES All courses under the quarter system carry financial accounting information is used in con- ACC 417. Auditing three hours of credit, unless otherwise indi- tracts between parties (e.g., lenders and the Auditing principles and procedures are cated. A few exceptions are MGC courses; firm) and to evaluate a firm’s past performance ex­amined. This course includes analysis MKT 501 (Workshop in Marketing); MSM and potential future performance. of auditing and its relationship to financial 501 (Quantitative Methods Colloquium); the reporting, with emphasis on the independent one-credit-hour labs required for ACC 401 ACC 410. Accounting for accountant’s attest function and consideration (Corporate Financial Accounting), GBA 411 Management and Control of ethical and legal responsibilities and regula- (Framing and Analyzing Business Problems By examining the tension between decision tory influences. Statistical sampling, the role of 1), CIS 401 (Information Systems for Man­age­ making and control in organizations, the course the internal auditor, and compilation and review ment), and STR 401 (Mana­ger­ial Eco­nom­ics). examines a variety of questions such as: Why reports are discussed­. Also, courses offered jointly with the University do managers allocate fixed costs, transfer of Rochester’s De­part­ment of Economics or Prerequisite: ACC 401 goods between sub-units at full cost, and use Statistics and the School of Medicine and other accounting policies that deviate from Dentistry vary in credit hours. ACC 418. Taxes and Business marginal cost? What are ac­tivity-based costing, Strategy Faculty whose biographies appear in the normal costing, and economic value added Administration and Faculty sections teach (EVA), and why are managers adopting these The objectives of this course are to help courses in the MBA program on a regular techniques? Top­ics include: analyzing tradi- students develop the tools required to iden- basis. The faculty described in this guide teach tional costing systems, divisional performance tify, understand and evaluate tax-planning over 90 percent of all 400-level and 500-level measurement, transfer pricing, cost allocations, opportunities and to develop a framework Simon School courses. op­portunity cost, budgeting and standard for understanding how taxes affect business decisions. Effective tax planning requires the In addition, one or two faculty members are vis- cost­ing. The course provides students with a framework to understand and productively use planner to consider the tax implications of a itors from other institutions. Care­fully selected proposed transaction for all of the parties to Simon School doctoral students teach a small accounting systems. Emphasis is placed on the problems of motivation and control in organiza- the transaction. Effective tax planning requires number of graduate courses, typically summer the planner, in making investment and financ- offerings. Such students assume all of the tions and the role of accounting information in this context. ing decisions, to consider not only explicit taxes responsibilities of regular faculty instructors. (tax dollars paid directly to taxing authorities), Executives from corporations, as well as local Prerequisites: ACC 401 and STR 401 or GBA but also implicit taxes (taxes paid indirectly in business owners, also serve as an additional 461; STR 403 (may be taken concurrently) the form of lower before-tax rates of return on faculty re­source at the School for selected mas­ tax-favored investments). Ef­fective tax planning ter’s-level courses. ACC 411. Financial Statement requires the planner to recognize that taxes A course schedule showing offerings, times Analysis represent only one among many business and instructors for each quarter is available An objective of this course is to develop costs. In the planning process, all costs must be from the Registrar’s Office prior to the start of students’ ability to use financial statement considered, in­cluding the costly restructuring each quarter. information (broadly defined) in various deci- of the business necessary to implement some sion-making settings. The uses of financial tax plans. The framework is operationalized statement information include: 1) evaluation of by applying it to a variety of settings such as ■ Accounting managerial performance; 2) analysts use finan- investments, compensation policy, organi- Charles E. Wasley, Area Coordinator cial statement information to perform prospec- zational form, regulated industries, financial tive analysis, which serves as an input into the instruments, tax-sheltered investments, mul- Master’s-Level Courses valuation of a firm’s equity. Analysts make buy, tinational ventures, mergers and acquisitions ACC 401. Corporate Financial sell, and hold recommendations based on anal- and tax arbitrage. Accounting ysis of financial information; 3) creditors and Prerequisites: ACC 401 and FIN 402 Credit­—four hours lenders use financial statement information as in­put into lending decisions. Lenders use finan- Corporate financial accounting is concerned ACC 419. Positive Accounting cial information to determine the type, amount Research with the form and content of the information and terms of a loan, and also the nature of any firms disclose to external parties (e.g., share- covenants, and 4) corporations and investment This course is designed for MBA students con- holders). In the United States, financial report- bankers use financial statements to value centrating in accounting and students in the ing is based on generally accepted account- companies that might be takeover targets. The Master of Science in Accountancy program. The ing principles (GAAP) set by the Financial primary objective is to develop and sharpen primary objective of the course is to introduce Accounting Standards Board (FASB). GAAP students’ analytical ability to analyze financial students to the role of financial accounting define the accounting methods and disclosure statements and draw inferences about a firm’s information in capital markets. This objective practices that firms select from when provid- performance and future prospects. Cases and is accomplished by exposing students to ing financial statements to external parties. analysis of actual reporting practices are used academic accounting research on the relation This course covers these principles and other to achieve the course objectives. between accounting numbers and stock prices, important financial reporting practices. The the debt contracting and executive compensa- primary focus of the course is developing the Prerequisites: ACC 401 and FIN 402 tion contracting roles of accounting numbers, skills required to interpret and analyze financial incentives for managers to manage reported information, rather than the skills required to earnings, incentives for managers to voluntarily prepare financial statements. Upon completion disclose financial information, properties of of the course, students will appreciate how analysts’ forecasts of accounting numbers,

40 Simon Business School Course Catalog 2014-2015 and issues related to international financial ACC 433. Advanced Business Law perspectives of designing effective internal reporting. Another objective of the course is to and Ethics controls and auditing in an IT environment. The help students appreciate some of the current (Same as BPP 433) function of the internal audit department will be debates surrounding the accounting profession covered, as well as how external auditors can and the role of empirical research in address- A continuation of BPP 432, which is a prereq- work with internal auditors. uisite) ing such problems. Prerequisites: ACC 401 Topics include: bankruptcy, real prop­erty, per- ACC 423. Financial Reporting I sonal property, sales, secured transactions, negotiable instruments, insurance, trusts and ACC 445. Managerial Accounting This course acquaints students with the con- estates and consumer protection This course for Health Care Organizations ceptual and practical problems in measuring also in­cludes discussions of ethics and profes- (Same as HSM 425) revenues and expenses, assets and liabilities. sional responsibilities. The principal objective is to make students Costs for health services continue to rise faster proficient in assessing the financial position of than overall economic growth, drawing ever a company, its cash flow, liquidity, capital struc- ACC 436. Research Into greater attention from employers, governments ture, hidden liabilities and reserves through an Professional Accounting and consumers. The front line of the cost battle understanding of generally accepted account- Standards is within the health services entities, where ing principles (GAAP). The course provides a This course will cover the conceptual frame- decision making depends on accurate report- practical overview of the structure of account- work for standard setting established by the ing of internal costs. This cost will allow the stu- ing and its relation to finance and economics Financial Accounting Standards Board (FASB). dent to understand how costs are reported and that should continue to be valuable as the It will also review how to research financial how to use this information to make decisions accounting environment changes. accounting and reporting issues using the within the health services entity. The following FASB Accounting Standards Codification. The Prerequisites: ACC 401 and FIN 402 topics will be examined within a health services research of financial accounting and report- setting: cost allocation, cost-volume-pricing ing issues will be applied to professional analysis, budgeting and variance analysis, and ACC 424. Financial Reporting II accounting decisions in financial reporting, activity-based costing. This course addresses the accounting for disclosure and other accounting decision mak- mergers and acquisitions, foreign operations ing. In addition, a comparison of US Generally and derivative financial instruments. Emphasis Accepted Accounting Principles (US GAAP) and PhD Courses is placed on developing an appreciation of International Financial Reporting Standards the forces shaping accounting, including the (IFRS) will be included. The course concludes ACC 501. Seminar in Accounting effects of organizational ar­rangements, infor- with a review of the impact of governmental (Offered each quarter, 1 credit. First-year PhD mation and taxes. The interdependency of the and not-for-profit accounting standards on students are graded on a P/F basis. Second- accounting methods, organizational structure financial reporting. year and later students receive a letter grade.) and tax decisions are investigated. Prerequisites: ACC 401, ACC 423 and FIN 402 A forum for the presentation, discussion and Prerequisites: ACC 401 and FIN 402 critique of current accounting research papers ACC 437. Basic Federal Income Tax where accounting faculty, PhD students and ACC 431. International Financial Accounting outside speakers present working papers on Statement Analysis This course will introduce the federal tax current research topics. Students are expected The objective of this course is to prepare stu- system in the United States and will focus on to actively participate in the discussion and dents for the analysis of financial statements specifics of federal tax code. It will provide critique of the papers presented. In weeks in an international context. Cross-border trans- an overview of individual, partnership, corpo- when accounting workshops/seminars are acting is an increasingly important component rate, gift and estate taxes. Detailed topics will scheduled, accounting PhD students will meet of business. Consequently, corporate financial include, but are not limited to, gross income, as a group with a member of the accounting statements are used in increasingly internation- deductions for adjusted gross income, deduc- faculty before the seminar to discuss the paper. al settings by shareholders, lenders, creditors, tions from adjusted gross income, taxable Since such meetings are designed to facilitate managers, em­ployees, suppliers, customers income, alternative minimum tax, certain students’ active participation in the seminars, and governments. Because the course aims to tax credits, recognition of gains and losses, students are required to circulate a brief set develop skills in international financial analysis, transactions between partners, Subchapter S of comments to the other class participants in it adopts a case format. The course addresses Corporations, gift tax and estate tax. Skills will advance of the meeting. Grading will be based the economic and political determinants of: be developed to research the tax code and on the quality of students’ contributions to the 1) similarities in accounting practices among I.R.S. rulings to solve tax issues. pre-seminar meetings as well as their contribu- countries; 2) differences in accounting practic- Prerequisite: ACC 401 tions and participation in the actual workshops. es among countries; 3) similarities and differ- ences in the properties of reported ac­count­ing ACC 510. Accounting Research I numbers among countries; and 4) the strong ACC 438. Auditing II—Auditing and trend toward reducing differences in account- Information Systems (Offered Fall Quarter, 3 credits.) ing practices among countries. This course will focus largely on Sarbanes- The natural starting point for the study of capi- Prerequisites: ACC 401 and FIN 402 Oxley compliance and internal control systems. tal markets research in accounting begins with Internal control systems will be covered in the relationship between accounting earnings depth, with focus on internal controls in an and security returns. This course covers the information technology (IT) environment. The evolution of research on the earnings/return IT environment will be discussed from the relation from the seminal papers up through

41 Simon Business School Course Catalog 2014-2015 current research. Topics covered include the ACC 512. Advanced Topics in fundamental features of the contemporaneous Accounting Research earnings/return relation, the nature of associa- (Offered Spring Quarter and alternates with tion-type and event study-type investigations of ACC 513, 3 credits.) the contemporaneous earnings/return relation, theoretical and empirical evidence on the This course covers advanced topics in account- lead/lag relation between security returns and ing research including the role of accounting accounting earnings, the asymmetric timeli- numbers in debt contracts and lending agree- ness of accounting earnings, theoretical and ments, the role of accounting numbers in exec- empirical research on the role of conservatism utive compensation contracts and corporate in accounting earnings, pro-forma earn­ings and governance, the economic consequences of international research on the char­acter­ist­ics accounting regulation, the use of account- and properties of the earnings/return relation. ing-based measures of the cost of capital and The course also covers capital market research empirical tax research in accounting. on analysts’ earnings forecasts including Prerequisites: ACC 510 and ACC 511 the properties of such forecasts (e.g., opti- mism, pessimism, rationality) and the relation ACC 513: Contemporary Topics in between analyst earnings forecasts and stock Accounting Research prices. (Offered Spring Quarter and alternates with ACC 512, 3 credits.) ACC 511. Accounting Research II This course covers topics including value rel- (Offered Winter Quarter, 3 credits.) evance, accounting-based valuation models, This course turns the focus from aggregate earnings quality, the impact of earnings and accounting earnings (which is studied in ACC accrual quality on firm valuation, the impact of 510), to the components of earnings; accru- real activity management on firm performance, als and cash flow. Given the central role of market efficiency with respect to accounting accruals in the measurement of accounting numbers, the economic consequences of earnings, the initial focus of the course is on fraudulent financial reporting and the effects of the fundamental properties of accruals and the accounting restatements. importance of accruals to accounting earnings Prerequisites: ACC 510 and ACC 511 central role as a summary measure of firm per- formance. The course also covers the relation between cash flow and accruals and the mar- ket pricing of accruals and the components of accruals. The study of accruals naturally leads to research on earnings management that focuses on how and why earnings are man- aged. Research on how earnings are managed focuses on managers’ opportunistic manipula- tion of accounting accruals and/or via altering real activities while research on the managerial incentives to manage reported earnings focus- es on (among other topics) the literature on meeting or beating earnings expectations and earnings thresholds. The course also covers the topic of voluntary disclosure. In particular, the incentives managers have to voluntarily disclose earnings and/or cash flow forecasts and the properties and stock price effects of such forecasts. Other voluntary disclosure lit- erature studied includes the effect of voluntary disclosure on the cost of capital and the effect of the legal environment on firms’ voluntary disclosure practices. Prerequisite: ACC 510

42 Simon Business School Course Catalog 2014-2015

■ Applied Economics ers the economic behavior of individuals and Students will read and critique journal articles, firms in a competitive market setting. Individual and areas for future research will be highlight- PhD Courses behaviors examined include responses to price ed. and income changes, intertemporal planning AEC 501. Applied Economics (e.g., saving), household production, labor sup- AEC 516. Analysis of Economic Seminar I ply, investment in human capital, search, and Policy reactions to uncertainty about future assets and (Offered at the discretion of the instructor) The seminar is a forum for recent and current goods prices. For firms, the implications of val- research. PhD students, faculty and outside ue-maximization for input de­mands and output speakers present papers on their current supplies are explored thoroughly. Managerial AEC 521. Advanced Topics in the research and/or discuss recent work by others choices related to multiple products, intertem- Organization of Industry in the field. poral production planning and uncertainty are The course concentrates on unsettled areas in explicitly modeled. Some extensions to monop- industrial organization, exposing students to AEC 502. Applied Economics oly behavior are considered. Finally, some potential thesis and research proj­ects. Specific Seminar II implications of consumer and competitive firm topics vary from year to year. Typical current A continuation of AEC 501. behavior for industry (single market) and gener- topics are theory of conglomerate mergers, al equilibrium are examined. These include (for analysis of advertising and scale as barriers to AEC 503. Organizational and industry equilibrium) the technological determi- entry, quality competition and market respons- Competitive Strategy Seminar nants of industry responses (entry-exit, quantity es to costly information. changes, price changes) to economic shocks (Same as STR 501) such as shifts in demand for the industry’s AEC 523. Advanced Empirical A continuation of AEC 501 and AEC 502. product. For general equilibrium, the first and Industrial Organization second welfare theorems will be covered. Empirical Industrial Organization (IO) meth- AEC 504. Fundamentals of ods have become an integral element of the Economics AEC 512. Advanced Price Theory II applied econometricians’ tool kit across many This is a course meant for entering doctoral This course teaches the tools of game theory areas. Applications of these methods are not students with insufficient background in eco- and contract theory, and applies them to top- limited to IO but are seen in diverse areas such nomics. Topics covered include markets and ics in industrial organization, organizational as political science, labor economics, corpo- prices, consumer behavior, individual and economics and other areas. Game theory is rate finance and marketing. These methods market demand, choice under uncertainty, the study of strategic interaction among a stress combining strong IO theory with cutting production, competitive markets, monopoly small number of decision-makers. It is nowa- edge econometrics to answer substantive and monopsony, competitive strategy, markets days applied in almost any area of econom- questions. In addition to introducing students with asymmetric information, externalities and ics, as well as in related disciplines such as to new methods and topics, this course also public goods. Offered in the summer, primarily finance, accounting, marketing and operations aims to cultivate a strong research focus in our for entering doctoral students. research. Contract theory is concerned with students. It encourages students to read and the optimal design of contracts (and at a larger critically evaluate challenging papers and dis- scale, organizations) that define the “rules cuss approaches to improving them. As such, AEC 505. Mathematical Techniques of the game” under which agents (such as a this course is in the best tradition of Simon’s in Economics firm’s employees) interact. In this sense, it can research approach. The course introduces mathematical tools be thought of as an extension of game theory. especially useful in economics, econometrics Contract theory is the methodological basis of AEC 525. Mathematical Economics I and finance. Topics include a basic topology much of modern organizational economics, but (Same as ECO 481) of the real line, sequences and series, limits, its methods are applied in many other contexts, continuity, differential and integral calculus. too, notably finance. The course is organized (Offered at the discretion of the instructor) Offered in the summer, primarily for entering by concepts and methods, but most time will Credit—four hours doctoral students. be spent on applying them to a large variety This course covers the use of optimization the- of topics. While this is a theory course, the ory in economic analysis. The topics covered AEC 510. PhD Workshop in Applied instructor will also occasionally refer to relevant include finite-dimensional optimi­zation (uncon- Economics empirical work. strained optimization, La­grange’s Theorem, the The workshop provides a forum for the pre- Kuhn-Tucker The­orem), the role of convexity sentation of ongoing and completed research AEC 513. Advanced Price Theory III in optimization, parametric continuity of solu- projects by PhD students in the economics tions to optimization problems, and finite- and This course provides an introduction to the core. Third- and fourth-year PhD students are infinite­-horizon dynamic programming. theory and practice of industrial organization. expected to participate actively. Broad areas of application include static oligop- Prerequisite: AEC 505 Prerequisite: permission of the instructor oly models, two-stage games and games with infinite horizons. Con­cepts from game theory AEC 511. Advanced Price Theory I such as Nash equilibria, subgame perfect equi- The first of a three-course sequence providing libria, and perfect Bayesian equilibria will be a survey of the substance and methods of con- used as needed. Special topics may include: temporary price theory for students preparing contracts, patents, licensing, bundling, tying, to do research. Generally, the first course cov- buyer-seller networks, switching costs, price discrimination, mergers and entry barriers.

43 Simon Business School Course Catalog 2014-2015

■ Applied Statistics APS 519. Topics in APS 531. Applied Econometrics Microeconometrics The course aims to provide PhD students with Master’s-Level Courses The course content varies from year to year. a broad set of applied econometric skills. The Panel data, cross-section time series, qualita- contents of the course have been designed as APS 425. Advanced Managerial Data tive dependent variables and duration analysis to provide the broadest group of students fairly Analysis are possible topics discussed. in-depth exposure to key topics in Panel Data The objective of this course is to provide a sys- Prerequisite: ECO 517 or permission of the methods that would be useful in their research tematic way to organize and make use of quan- instructor endeavor. These methods have applications in titative information in business decision-mak- accounting, corporate finance, marketing, and ing. The course builds on what students have more recently in operations management and learned in introductory statistics, extending that APS 523. Advanced Econometrics information systems. knowledge to include the situations frequently (Same as College course ECO 517) The course will be broken up into four mod- encountered in decision-making. Credit—five hours ules. The first module is a refresher to topics already covered in the introductory sequence Prerequisites: GBA 412 or GBA 462 The course covers advanced topics in econ­ of econometrics courses. The focus, however, ometrics, including maximum likelihood meth- would be for students to grasp the idea behind ods and methods of moment estimation. Also PhD Courses the methods in a more applied setting. The sec- discussed are asymptotic theory, and semipara- ond module introduces students to Panel Data metric and nonparametric estimation. APS 511. Introduction to and the issues involved with the estimation of Mathematical Statistics Prerequisite: APS 515 models based on such data. The third module A more theoretical treatment of the subject forms the core of the course and focuses on matter of APS 411, offered in the summer, pri- APS 524. Topics in simulation-based econometric methods. In this marily for entering doctoral students. Macroeconometrics module, the models discuss both reduced form (Same as College course ECO 518) and structural models applied to cross sectional as well as Panel Data. The course concludes APS 514. Introduction to Credit—five hours with a quick introduction to Bayesian ideas and Econometrics The course focuses on the econometric tech- methods. (Same as College course ECO 484) niques and problems associated with particular Credit—two hours fields in economics, such as the econometrics of labor economics and the econometric issues in The course is for students intending to do macroeconomics or finance. research in quantitative areas. Topics in­clude: estimation and hypothesis testing in the stan- Prerequisite: APS 523 or permission of the dard linear model, weighted least squares, instructor transformations, constraints, anal­ysis of vari- ance and covariance and problems of model APS 528. Sampling Techniques specification. (Same as Medical School course BST 421; APS Prerequisites: AEC 505 or equivalent and APS 528 is offered in alternate years) 511 or equivalent Credit—four hours The course is for students with a primary interest APS 515. Elements of Econometrics in applied statistics or research in quantitative (Same as College course ECO 485) areas. Topics include: design and analysis of simple random, stratified, cluster and systematic Credit—four hours sampling; multistage and multiphase sampling; The course starts with the single-equation and nonresponse and measurement errors. linear model, focusing on OLS estimation and Prerequisites: GBA 411, GBA 412 and differential­ instrumental variables estimation. Then it calculus­ moves to a linear system of equations model and covers system OLS estimation, generalized least squares estimation, and generalized APS 529. Applied Multivariate method of moments. It ends topics of the linear Analysis model with linear unobserved effects panel (Same as Medical School course BST 441; APS data models. Then the course moves to nonlin- 529 is offered in alternate years) ear estimation, covering the M-Estimators and Credit—two hours discrete response models. If time permits, a few more advanced topics will also be covered. This course examines the theory and applica- tions of multivariate methods often used in eco- The course assumes familiarity with matrix nomics, marketing and finance. Top­ics include: algebra, probability theory, basic statistics, multivariate normal distributions, sampling and ecometrics at the level of ECO 483 and distributions, tests of hy­poth­eses, multivariate ECO 484.The course requires programming in analysis of variance, canonical correlation, prin- Matlab for some problem sets. cipal components and factor analysis. Prerequisite: APS 514 Prerequisite: APS 514 44 Simon Business School Course Catalog 2014-2015

■ BUSINESS COMMUNICATIONS ■ Business Environment and BPP 433. Advanced Business Law Public Policy and Ethics MGC 401. Communicating Business (Same as ACC 433) Decisions (Module I) Master’s-Level Courses A continuation of BPP 432, which is a prereq- MGC 402. Communicating Business BPP 426. Macroeconomics uisite) Decisions (Module II) Macroeconomics is the study of how econ­ Topics include: bankruptcy, real prop­erty, per- omies grow and fluctuate over time and how sonal property, sales, secured transactions, MGC 403. Communicating Business they interact with one another. In this course, Decisions (Module III) negotiable instruments, insurance, trusts and we discuss economic measurement, economic estates and consumer protection This course Strong communication skills are essential for growth and the business cycle. We also discuss also in­cludes discussions of ethics and profes- future leaders. The goal at Simon is to establish the implication of modern theories of growth sional responsibilities. principles and standards for written and oral and fluctuation for the conduct of monetary pol- communication that will apply not only to Simon icy and fiscal policy. There is a strong emphasis coursework but throughout the student’s busi- on the in­ternational linkage among economies BPP 440. Evolving Medical Markets ness career. Students are encouraged to think and the implications of macroeconomics for the (Same as HSM 440) strategically about business communication, business environment. Firms supplying products and services to the and the emphasis on applied communication Prerequisite: STR 401 health care industry face a variety of regu- integrates effective writing and presentation latory and marketing challenges that will be skills with practical, hands-on projects. BPP 431. Legal and Tax explored in this course. Topics in­clude: the Because the job search incorporates many Considerations of New Ventures economics of developing and marketing new key communication skills, the first module of (Same as ENT 431) medical technologies, regulations affecting instruction focuses on cover letters, résumés, market structure, health and safety regulations interviewing, networking and e-mail protocol. (Offered at the discretion of the instructor) and insurance markets. The course will cover In the second module, business problems This course surveys, from the entrepreneur’s evaluation tools frequently used in public policy assigned in other core courses are structured perspective, legal and tax considerations that debates and in marketing medical technologies to take various forms, such as a 10-minute impact strategic choices in organizing, funding, including cost-benefit and cost-effectiveness presentation to the board of directors or a one- staffing, governing, and operating new ven- analysis and quality of life indices. page exective memo, which are then evaluated tures. The course’s principal focus is on how by the faculty to reinforce the importance of the to create and retain competitive advantage BPP 442. International Economics “Communicate” (Ct.) element of the School’s through the skillful ordering of legal affairs. and Finance new F.A.Ct. initiative. The final module con- Emphasis will be transactional and include (Same as FIN 442) cludes with a school-wide case competition analysis of such issues as the creation and that takes place at the end of the first year. protection of intellectual property, technology Topics include: theories of international trade; licensing, global expansion, and internet com- exchange-rate regimes; the determination of exchange rates in a world of flexible exchange MGC 404. FACt Workshop merce. The course will include, as a context for applied learning, a term project involving the rates; the Euromarkets; the pricing of assets in The course required of all students starting in open economies; international financial man- the Accelerated MBA program, will be taken by creation and evolution of a selected new ven- ture opportunity. agement and the theory of multinational corpo- students in groups of 12 to 16 working with a rations; foreign exchange exposure; analysis of faculty member on an unstructured / complex currency forward, future, option and swap con- managerial situation that requires framing of BPP 432. Basic Business Law tracts; capital budgeting for foreign projects; the problem, data/fact collection, analysis and (Same as ENT 432) and financing international trade. communication. The class will meet for a week- This course surveys the law of contracts, Prerequisite: FIN 402 ly discussion session where the students will agency, and business associations – with the discuss and debate their positions. objective of developing familiarity with selected Recommended: FIN 411 laws, regulations, legal principles, and legal processes that govern (a) efficient exchange, generally; and (b) how and in what ways man- agers and entrepreneurs organize and interact to facilitate exchange. Although emphasis will be on United States law, there will be selected reference throughout the course to issues related to international transactions and to pertinent differences in legal systems of coun- tries outside the United States. The course has a distinct transactional focus, with heavy reliance upon contemporary cases, commercial practices, and issues. Particular attention will be given to the impact of the legal framework upon sound managerial decision-making, business risk management, commercial rights and responsibilities, and ultimately business valuation. 45 Simon Business School Course Catalog 2014-2015

■ Competitive and economics, especially the field of Industrial competitive environment and how to anticipate Organization. competitor responses. Lastly, the course will Organizational Strategy cover the legal aspects of pricing as appropri- James A. Brickley, Area Coordinator The first half of the course looks at the “big picture” and covers industry analysis, value ate. Master’s-Level Courses creation and competitive advantage, and Prerequisites: STR 401 or GBA 461 and MKT 402 integration and diversification decisions. The STR 401. Managerial Economics second half of the course focuses on strategic STR 424. Human Resource Strategy Credit—four hours interaction among firms, and covers specific topics such as the dynamics of price competi- This course analyzes human resource manage- The primary objective of the course is to train tion in oligopolies, commitment strategies of ment from an economics perspective. It focus- students to think in economic terms, to iden- firms, entry and exit, networks and standards, es primarily on the implementation of compen- tify the relevant economic issue in a given and technological competition. sation and incentive structures in organizations. situation, to separate the relevant from the Topics include: selection and hiring of employ- irrelevant, and to analyze the implications of The course is largely case-based. About one ees, measurement and appraisal of employee alternative actions. Another objective is to pro- third of all classes are lectures; the other two performance, promotion-based incentive sys- vide an increased understanding of markets. thirds are case discussions. tems, managing work-force diversity, employee The course presents the basic analytical tools Prerequisite: STR 401 relations, and the coordination of human of microeconomics, particularly as those skills resource policies and business strategy. are relevant to managers. Important economic Prerequisite: STR 401 or GBA 461 concepts used in subsequent courses, such as STR 422. Game Theory for opportunity costs and a Nash Equilibrium, are Managers Recommended: STR 403 covered. Applications of marginal analysis are This course develops game-theoretic tools that stressed. can be used to provide both quantitative and S TR 427. Organizational Behavior qualitative prescriptions for profit-maximizing This course presents behavioral concepts that STR 403. Organization and behavior in a variety of strategic settings. The influence individual, group, and organizational Strategy basic concepts are introduced through applica- effectiveness. Particular emphasis is given to The course teaches how to approach and tions to strategic settings that one encounters motivation, culture, globalization, leadership, solve a large range of organizational problems in typical business situations. However, the group dynamics, communication, organizational from an analytical-economic perspective that game-theoretic concepts themselves are quite structure and change. Students develop ways is grounded in agency theory. It discusses general, as the goal of the course is provide of thinking about organizational problems to in detail the assignment of decision rights students with both an understanding of these increase individual and organizational effective- (including centralization vs. decentralization concepts and a tool kit with which to evaluate a ness. Multiple stakeholder perspectives and of decisions), performance measurement, and broad range of strategic problems. systemic approach to organizational problems incentives and rewards. These are the three The set of strategic problems specifically are emphasized. elements of “organizational architecture,” the discussed includes the pricing of new and central framework of the course. Applications existing goods in the presence of substitutes range from job-level incentive problems and complements, determining advertising and S TR 429. AdVANCED Competitive to broader questions about organizational R&D expenditures, analyzing market entry, exit, Strategy structure and the boundaries of the firm (e.g., and entry deterrence opportunities, and eval- This course builds on STR421 to train students vertical integration). Throughout, the course uating bargaining and auction environments. in conducting and communicating strategic emphasizes the complementarity of organiza- Extensive use is made of examples from both analysis. The course provides an end-to-end tional policies and the importance of alignment private- and public sector analyses of strategic methodology for evaluating and developing between a firm’s internal organization and its interactions among firms. business strategy. Students learn and practice strategy. framing an unstructured strategic challenge, Prerequisite: STR 401 or GBA 461 constructing workable questions, collecting and Prerequisite: STR 401 or GBA 461 evaluating the required evidence and formu- STR 423. Pricing Policies lating strategic recommendations. The course STR 421. Competitive Strategy (Same as MKT 414) is split about evenly between work on a quar- ter-long project, lectures and case studies. Competitive strategy deals with the most sig- This course prepares future managers to ana- nificant decisions that companies make in the lyze the environment in which their firm oper- Prerequisite: STR 421 marketplace, including entry into a market, ates in order to arrive at an appropriate pricing product positioning, pricing, investments, tech- policy for their products or services. Topics S TR 430. Health Sciences nology choice and acquisitions. This course include (i) relevant costs (i.e., which costs are Management and Strategy provides tools and concepts for analyzing these relevant for pricing decisions), (ii) elasticity of (Same as HSM 430) decisions and for designing business strategies demand, and (iii) market segmentation (e.g., This course applies the principles of organiza- that help firms make above-normal profits in through the offering of a product line, or by tional economics and strategy to the institu- the long run. Throughout the course, there is means of bundling, tying, menus of two-part tional setting of health sciences. The course an emphasis on how firms interact with existing tariffs, quantity discounts, and other direct focuses on the interdependence between the or potential competitors and other parties in and indirect means of price discrimination). delivery, financing, and technology sectors of the market. The tools and concepts used to The course will also cover essential pricing the health care marketplace. It discusses how understand this interaction are partly those of analytic tools such as break-even analysis and management and strategy choices within each the traditional field of Strategic Management, economic value analysis, and it will provide a sector are responses to the unique institutional but more importantly those of modern micro- solid introduction into the pitfalls of pricing in a 46 Simon Business School Course Catalog 2014-2015 factors in the health care marketplace and how structure; banks and other financial institutions This course provides a forum for discus­s­ing the strategies of each sector affect the behav- as organizational monitors; CEO selection, theoretical and empirical research on orga- ior of the others. Students will leave the course retention and succession; and governance in nizational and competitive strategy, and it with an ability to think productively about man- entrepreneurial firms. The class presents the contains the core material for pre­par­ing for a agement and strategy challenges within each important issues relating to these topics and minor exam in STR. The course covers topics of the three health science sectors. examines the relevant empirical research. similar to those in STR 403. How­ever, students Prerequisite: STR 401 or GBA 461 Emphasis is placed on how optimal practices study more ad­vanced papers and analyze the can vary across industry, strategy and country material with more depth and rigor. Depending Recommended: STR 403, STR 421 and on how they might evolve through time. on the backgrounds and interests of the stu- The course complements FIN 411 (Investments) dents, likely topics include: why firms exist; why STR 438. B2B Pricing and FIN 423 (Corporate Financial Policy and organizations take the form that they do; the (Same as MKT 438) Control) in helping students understand how motivations for change within organizations; corporate policies affect security prices and incentive problems and contracting; the factors Students will learn the major differences in pric- value. that determine the al­location of decision rights ing strategies between selling to consumers Prerequisites: STR 401 or GBA 461 and STR 403 within an organization; how agency problems (STR423) and to other firms, which then deal are mitigated by the market for cor­po­rate con- with consumers. The course starts by analyzing trol; the managerial labor market; compensa- the pricing problem of a manufacturer selling STR 442. Special Topics in Strategy tion plans; the ownership structure of residual to a retailer. We examine the issue of double (Not offered every year) claims and the court system; and why “hybrid” marginalization, and learn how two-part tariffs Special topics are generally those, which are organizations such as franchises and joint ven- get us out of this problem. We also examine tures exist. different forms of contractual relations—from not well covered in the other courses, such as vertical acquisitions to regular short-term con- advanced pricing techniques, or they may deal Prerequisite: STR 403 or permission of the tracts—and potential issues with every form, with strategy in selected industries (e.g., finan- instructor touching on transfer pricing and outsourcing. cial services, high-tech marketing, etc.). The In the second part of the course, we analyze specific content of the course varies, depend- a crucial concept of cost pass-through (how ing on faculty interests. much a retailer should decrease the retail price Prerequisite: permission of the instructor in response to a decrease in the wholesale price) and the effect of manufacturer’s advertis- ing on the retailer and on the channel overall. StTR 461. S rategy and Business This course is a natural continuation of STR423 Systems Consulting Practicum Pricing Policies for those who are interested (Same as CIS 461 and OMG 461)) in working in an industry where a significant This course studies the analysis, design and portion of sales is done through independent- automation of business processes. The course ly-owned retailers, whether students are plan- teaches system-modeling tools ap­propriate for ning on working on the retailer side or on the the analysis and design of business process- manufacturer side of this industry. es and information systems. These tools are Prerequisite: STR 423 applied to electronic commerce ventures, the design of various service processes, logistics and R&D activities. Key features of the course S TR 439. AdVANCED Pricing are: object-oriented systems analysis tech- (Same as MKT 439) niques, the study of cutting edge research This course builds on MKT 414/STR 423 to equip results on work organization and design, and students with the skills to make profitable an in­troduction to the Visual Basic program- pricing decisions in complex business environ- ming language for rapid prototyping of new ments. Topics include: pricing with constrained information systems. The course in­cludes supply and uncertain demand; markdown man- a comprehensive team-based field project agement; advance selling; pricing on the inter- involving a real business process. This project net; selling through auctions; pricing in markets requires the application of the concepts and with (direct and indirect) network effects; and techniques taught in the course. psychological aspects of pricing. Prerequisite: MKT 414 or STR 423 PhD Courses STR 501. Organizational and S TR 440. Corporate Governance Competitive Strategy Seminar This course builds on STR 403 (Organization (Same as AEC 503) and Strategy to provide a more in-depth anal- A continuation of AEC 501 and AEC 502 ysis of organizational choice and governance mechanisms. Topics include: the choice of organizational form; corporate charter (voting S TR 510. Research in rules, anti-takeover provisions, and so on); Organizational and Competitive proxy process; board of directors; ownership Strategy

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■ Computers and information systems. The course in­cludes CIS 418. Advanced Business a comprehensive team-based field project Modeling and Analysis Using Information Systems involving a real business process. This project Abraham Seidmann, Area Coordinator Spreadsheets requires the application of the concepts and The course expands and develops students’ techniques taught in the course. Master’s-Level Courses analytical tool kit through “hands on” training Prerequisite: CIS 401 in the effective use of spreadsheet-based tools CIS 401. Information Systems for for advanced managerial analysis. Students Management CIS 416. Advanced Information perform quantitative analysis of advanced problems in options pricing, investments, cor- Credit—four hours Technology porate finance, marketing and operations. The This course focuses on the theoretical foun- Information has become increasingly im­portant course enhances and reinforces the analytical dations underlying management information to the modern corporation for conducting oper- skills developed in earlier MBA classes such as systems and their vital role in the modern busi- ations, improving efficiency and maintaining formulating and solving large-scale business ness environment. Topics include: information competitiveness in rapidly changing markets. problems using quantitative models, risk sim- economics; innovative models of e-business Effective use of information technology (IT) ulation and sensitivity analysis. Spreadsheet and the impact of the Web on organizational involves knowledge of the existing capacities, tools introduced in this class include Visual transformation; the nature and operation of awareness of how information technology is Basic for Applications (V.B.A.) and stochastic large-scale-enterprise in­formation systems; changing and imaginative use of the technolo- optimization using Optquest. Students who suc- database and knowledge management gy to en­hance business performance. cessfully complete the course should possess systems; data communications; electronic The course contains a broad coverage of cutting-edge skills in spreadsheet business commerce; business process re-engineering; trends in IT development (e.g., hardware, soft- modeling and analysis. and information-systems analysis, design and ware, systems architecture, networks, security, Prerequisite: GBA 411 control. The strategic and economic impacts etc.), and how these components can be used of competitive information systems are for new business applications. The emphasis emphasized. Assignments and cases introduce is not on the technology, but rather on man- CIS 437. Digital Marketing Strategy students to modern quantitative business agerially evaluating its usefulness for solving (Same as MKT 437) modeling concepts and analysis, and to sophis- business problems. This course examines the major issues involved ticated business applications of the Web and Topics to be covered include: client-server in marketing on the Internet. Among the topics databases. architecture, data warehousing, data mining, studied are: new product opportunities on the CIS 413. The Economics of decision support, enterprise resource planning, Internet; the changed role of advertising; the Information Management knowledge-based systems/artificial intelligence, Internet as a two-way communication medium This course covers economic approaches to networks and security, object-oriented and with consumers; targeting individual consum- the management of information systems (IS). Web-based programming languages, and tech- ers; word-of-mouth among consumers on the Topics include: the value of information in an nology for project managers. All students are Internet; the Internet as a distribution channel; organizational setting; cost trends in hardware required to complete a group project on the and marketing research on the Internet. and software; the na­ture and implications of business implications of these technologies. Prerequisite: MKT 402 information asymmetries and objective conflicts They have to look at these technologies from in the IS setting, such as introducing new tech- the perspective of a business consultant who CIS 440. Electronic Commerce nology in an organization, the use of pricing needs to understand how to match the right Strategy and other control mechanisms such as budgets technology with his or her customers’ business and corporate standards to manage IS re­sourc- problems. This course covers electronic strategies for business to business and consumer e-com- es; analysis of peak-load problems; outsourcing Prerequisite: CIS 401 and EDI issues; and the effects of queuing and merce. This includes strategies for protecting its associated externality. Several business market share by going online, ameliorating cases are used to illustrate the issues. CIS 417. Introduction to Business online competition using network effects and Analytics customer lock-in, positioning against other Prerequisites: CIS 401 and STR 401 or GBA 461 online presences, dealing disintermediation This course covers the emerging field of and re-intermediation, de­veloping online business analytics (BA) or ‘data mining’ and CIS 415. Business Process Analysis communities for business or consumer e-com- expands and develops the students’ analytical and Design merce, and managing supply chain and cus- tool kit in analyzing massive data sets. Using tomer relationships. This course studies the analysis, design and cases studies and hands-on data sets, students automation of business processes. The course will learn advanced data query techniques, Prerequisite: CIS 401 teaches system-modeling tools ap­propriate for data cleaning and organization, explore various the analysis and design of business process- machine learning techniques including super- CIS 442. Special Topics in Computer es and information systems. These tools are vised and unsupervised classification schemes, and Information Systems applied to electronic commerce ventures, the text classification, clustering techniques as design of various service processes, logistics well as predictive analytics. Students will gain Special topics are generally those which are and R&D activities. Key features of the course hands-on experience with a variety of software are: object-oriented systems analysis tech- not well covered in other courses. The specific tools, including SQL, SAS, R, Tableau, and Weka content varies, depending on faculty interest. niques, the study of cutting edge research – an open source platform for data mining. results on work organization and design, and Prerequisite: Established by the instructor an in­troduction to the Visual Basic program- Prerequisite: GBA 412 or GBA 462 ming language for rapid prototyping of new

48 Simon Business School Course Catalog 2014-2015

CIS 446. Financial Information Diagnostic tools and data gathering techniques Systems (e.g., questionnaires and interviews) will be (Same as FIN 446) presented. Frameworks for problem solving, This course examines the role that ad­vances and communicating recommendations will also in telecommunications, the Internet, and infor- be introduced. mation systems play in the financial markets The course examines a wide range of modern and the financial services industry. An in-depth global business challenges and opportunities understanding of operations of industry is from both the consultant’s and the manager’s developed while studying technology’s trans- perspectives and provides a learning platform formative role. The class explores subjects such to integrate and practice the skills and knowl- as elec­tronic trading systems competing with edge learned. traditional exchanges and Internet brokerage firms challenging full-service brokerage firms and banks for customers. How trends in these PhD Courses areas will appear in other kinds of electronic commerce are discussed, the latest develop- CIS 501, 502, 503, 521, 522, 523. ments in financial markets and the financial PhD Seminars in Computers and services are examined, and case studies are Information Systems used in many classes. These six PhD seminars are offered in the fall, winter and spring quarters, with topics selected Prerequisites: CIS 401 and FIN 402 from the following: decision-support systems, economics of information and the valuation of CIS 461. Strategy and Business information systems, issues in the management Systems Consulting Practicum of information systems and the economics of (Same as OMG 461 and STR 461) computing, advanced topics in systems analysis This course provides MBA students with an and design, organizational aspects of infor- introduction to strategy and business systems mation systems, logical and physical database consulting. It is aimed at students who wish to design and topics discussed in the joint CIS/ explore career opportunities within the major OMG PhD seminars. consulting firms, but is also relevant for stu- Prerequisite: permission of the instructor dents considering a career as an independent consultant, or within a corporation’s internal CIS 512. Advanced Topics in consulting group. The course focuses on three Database Design areas: This course examines current research issues • The Consulting Industry: Students will exam- in database management systems. Topics ine several types of consulting (e.g., strategic, include: database-design methodologies, operations, systems, human resource and mar- semantic models, semantic integrity con- keting) and understand where the major con- straints, object-oriented approaches and sulting firms position themselves. The career applications of artificial intelligence to database paths for MBA’s entering the industry, and the management systems. skills and values necessary for success as a Prerequisite: CIS 415 or permission of the instructor consultant will be scrutinized. • The Business Systems Consulting Process: The creation of proposals, the winning of con- sulting engagements, and the preparation of contracts will be discussed. The typical stages of a business systems consulting engagement (e.g., problem framing, analysis design, gather- ing data, interpreting results, architectural solu- tion, and presentation of recommendations) and managing different sorts of consulting projects (e.g., operational improvement, sup- ply-chain optimization, quality improvement, strategy formulation, and organization design) will be examined. • Consulting Skills: The role of the consultant and the human dimension will be discussed (e.g., personal attributes of consultants, relationship building, and team building).

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■ ENTREPRENEURSHIP and for corporate venturing. It is also suitable An important reason for taking this course Duncan T. Moore, Area Coordinator for both profit and for not-for-profit organiza- is to learn how to develop a business plan. tions. Also included is a social entrepreneurship Therefore, a significant component of a stu- Master’s-Level Courses module. dent’s final grade will be based on this. In At the same time plans are prepared, other too many instances, a new venture does not ENT 422. Generating and Screening entrepreneurial issues are studied, such as become a viable entity because either there Entrepreneurial Ideas assembly resources, launching and building is no plan, or if there is, it is poorly conceived. Furthermore, a good plan is an effective com- (Same as GBA 422) new ventures and harvesting results. munications tool for the investment community. As the foundation course in Entrepreneurship, Lectures, cases and guest speakers are uti- An additional benefit is learning to work in mul- ENT422 covers: lized. The speakers will address a range of new tidisciplinary teams. venture topics from the development of man- • Idea Generation agement teams, marketing, finance, venture Teams of three to four students will collabo- • Opportunities Screening capitalists and legal issues. The completion of rate in the preparation of a business plan. The course will include time for students to share • Entrepreneurial Characteristics a business plan for a proposed new venture is required. business ideas and identify possible team This course outlines a critical evaluation pro- members. In general, each team will include cess used by successful entrepreneurs to Prerequisite: Completion of core courses and two MBA students and two science/technology prioritize new venture ideas. The focus of this ENT 422 (after the Fall Quarter 2007) graduate students. Other team configurations course is on the technical and market evalua- are possible with instructor approval. Each tion of very early-stage ideas when information ENT 424. Projects in team’s business plan will receive a grade and is greatly lacking and the time and money to Entrepreneurship that grade will apply to each individual on the research such answers is also limited. (Same as GBA 424) team. Students, in group format, will generate and Available to a limited number of students Each team will have a coach who is an expe- filter their own ideas and evaluate them based (10–15), this course combines a supervised rienced businessperson. The coach will be upon technical merit, business challenges, and internship with a start-up firm with lectures and available to provide feedback to the team. This early market indicators. Teams will present their in-class discussion on the management of new course is cross listed at OPT 481 and is taught idea-filtering rationale to a panel for review and ventures. The internship places second-year by a faculty member in the Simon School and feedback. MBA students, to be known as Simon Interns, who is from Engineering. Behind this evaluation process, the class will with Rochester-area firms where they will work review reference material on the subject and closely with senior managers for approximately ENT 426. Technology Transfer and several accomplished entrepreneurs will share 120 hours over a ten-week quarter­. Commercialization their personal experiences. In their internship, students will focus on the (Same as GBA 426) While the nomenclature will align most directly commercial viability of the firm’s offerings. This The creation of value in today’s globally com- to high-technology for-profit start-up compa- will be accomplished through shadowing man- petitive environment is increasingly driven by nies, parallels to low-tech-no-tech, intra-pre- agement, reviewing reports, participation in technology. Corporations are reaching out for neurship, non-profits, and social entrepreneur- meetings and work assignments. new technologies, and start-up companies with ship will be discussed. Complementing this hands-on entrepreneurial the highest potential are being formed around experience will be weekly classes held to novel disruptive technologies. Radical innova- ENT 423. New Venture Development discuss student experiences. In addition, there tion creates a “gale of creative destruction” and Managing for Long Term will be lectures on pertinent entrepreneurial which transform industries. The identification Success subjects as well as guest speakers. and evaluation of technologies with high poten- (Same as GBA 423) Prerequisites: Completion of core courses, and tial is today a key to success. With the decline either ENT 422, 423 or 425. Permission of the of corporate research functions, novel technol- The focus of ENT 423 is learning how to pre- ogies are increasingly sourced from other firms pare an effective business plan that will com- instructor MUST be secured prior to registra- tion. and universities. This course will examine the municate the inherent value of the concept. overall technology commercialization process, Among the critical issues that will be addressed with an emphasis on the processes by which are: ENT 425. Technical intellectual property is protected, valued and Entrepreneurship • Competitive conditions and industry transferred from one organization to another. This course provides an opportunity to examine The course addresses the strategic decisions trends the management practices associated with involving novel technology: the identification of • Sustainable competitive advantages technical innovation and new business devel- target markets, the economic valuation along • Management team opment. The analysis of entrepreneurship is the phases of the commercialization process evaluated primarily from the perspective of a and the assessment of alternative commer- • Marketing plan start-up venture that requires equity capital cialization strategies including licensing, • Financial plan investment. Management issues discussed startup company formation and venture capital include organizational development, analysis funding. The course will be taught by a combi- • Exit possibilities of market opportunities, market engagement, nation of lectures and real-world case studies • Franchising financial planning and control, capitalization, of current technologies, primarily from the • Legal Entities sources of funds, the due-diligence process University of Rochester in science, engineering and valuing the venture. and medicine. The approach used is appropriate for start-ups

50 Simon Business School Course Catalog 2014-2015

ENT 427. Practicum in Technology reliance upon contemporary cases, commercial Transfer and Commercialization practices, and issues. Particular attention will (Same as GBA 427) be given to the impact of the legal framework upon sound managerial decision-making, Students in this course will work in the Office business risk management, commercial rights of Technology Transfer on projects which are and responsibilities, and ultimately business a best fit to the student’s background and valuation. the range of inventions from the University of Rochester in science, engineering and med- icine. Projects can include either marketing ENT 435. Negotiation Theory and to existing companies or work on catalyzing Practice: Bargaining for Value a startup company. Either type of project will (Same as GBA 435) require assessments of novel concepts based This course surveys the theoretical and behav- on discussion with the inventors and direct ioral under­pinnings of negotiation practices market research and interactions with potential and develops skills that enhance the ability to customers. The skills required are primarily capture value in cooperative and competitive those of marketing and business assessment, bargaining scenarios­. Students will participate but some facility with technical content will in and evaluate several cooperative and com- be helpful. The students will prepare a tech- petitive negotiation simulations. Grades will nology commercialization and/or new venture depend, in large part, on performance in these plan and assist the licensing executives in the exercises. University’s Office of Technology Transfer in the negotiation process to implement the plan. ENT 441. Medical Entrepreneurship ENT 431. Legal and Tax This course aims at educating medical technol- Considerations of New Ventures ogy innovators how to increase their likelihood (Same as BPP 431) of success in identifying important clinical needs; inventing new medical practices, devic- (Offered at the discretion of the instructor) es, and instruments; and transforming these This course surveys, from the entrepreneur’s advances into businesses that improve health. perspective, legal and tax considerations that It covers several topics including clinical cost impact strategic choices in organizing, funding, effectiveness methodologies, needs finding staffing, governing, and operating new ven- and formulation, market analysis for biotech, tures. The course’s principal focus is on how patient searching strategies, and models of to create and retain competitive advantage disease state and existing technologies. The through the skillful ordering of legal affairs. course is unique in that it attracts both medical Emphasis will be transactional and include students and business students who are work- analysis of such issues as the creation and ing on supervised projects together. protection of intellectual property, technology licensing, global expansion, and internet com- merce. The course will include, as a context ENT 444. Entrepreneurial Finance for applied learning, a term project involving (Same as FIN 444) the creation and evolution of a selected new This course provides an introduction to finan- venture opportunity. cial theories and tools an entrepreneur needs to start, build and harvest a successful venture. ENT 432. Basic Business Law Lectures and case studies will cover financial (Same as BPP 432) planning, business valuation including the venture capital and the real option approach, This course surveys the law of contracts, financing, venture capital funds, compensation agency, and business associations – with the structures and exit strategies. objective of developing familiarity with selected laws, regulations, legal principles, and legal Prerequisites: FIN 402 processes that govern (a) efficient exchange, generally; and (b) how and in what ways man- agers and entrepreneurs organize and interact to facilitate exchange. Although emphasis will be on United States law, there will be selected reference throughout the course to issues related to international transactions and to pertinent differences in legal systems of coun- tries outside the United States. The course has a distinct transactional focus, with heavy

51 Simon Business School Course Catalog 2014-2015

■ Finance FIN 423. Corporate Financial FIN 434. Investment Management Jerold B. Warner, Area Coordinator Policy and Control and Trading Strategies This course examines the theory and em­pirical This course explores selected topics in the Master’s-Level Courses evidence for models of corporate financial management of equity portfolios. Course con- policy; analysis of new issues of securities, tent may vary from year to year. Top­ics include: FIN 402. Capital Budgeting and recapitalizations, stock repurchases, and the active portfolio management with particular Corporate Objectives market for corporate control (tender offers, emphasis on risk analysis, multifactor risk/return This course provides an introduction to finan- mergers, proxy fights and corporate voting models and performance evaluation and style cial analysis and capital budgeting with an rights); and emphasizes critical evaluation of analysis. The course also considers issues and emphasis on the valuation of real investment the evidence for different models of corporate evidence on different forms of market struc- projects. Topics discussed include an analysis financial policy. ture and trading systems, including the role of of the firm’s choice among alternative invest- Prerequisites: FIN 402 and FIN 411, FIN 413 specialists/dealers, optimal trading be­havior for ment projects, the term structure of interest institutions, price impact of trades, and related rates, modern portfolio theory and the valua- information technology. Extensive use is made FIN 424. Options and Futures of investment software. tion of risky assets, the estimation of free cash Markets Prerequisite: FIN 411 flows, capital structure choices, and the cost of This course provides intensive study of the capital. fundamental ideas of option-pricing theory and their application to options, financial futures FIN 441. Special Topics in Finance FIN 411. Investments and other securities; analysis of hedging with (Not offered every year) forward and futures contracts; development of Investments includes discussion of the effi- Special topics are generally those which are cient-markets theory of the dynamic behavior the Black-Scholes option-pricing formula, its uses and modifications, and generalizations of not well covered in other courses. The specific­ of prices in speculative markets, along with content varies, depending on faculty­ interest. empirical evidence for the validity of the the model; and discussion of the structure and theory; evaluation of the implications of the organization of options and futures markets Prerequisite: Established by the instructor efficient-markets theory for the profitability of and the exploration of empirical evidence on the validity of option-pricing models. Analyses alternative investment strategies; exploration FIN 442. International Economics of the implications of portfolio theory for equi- of the pricing of options on futures, foreign cur- rency, portfolios and indexes, commodity pric- and Finance librium asset prices and the measurement of (Same as BPP 442) risk; emphasis on the em­pirical evidence for es, bond prices and interest rates are included various mean-variance and multifactor models as time permits. Topics include: exchange-rate regimes; the of asset pricing and the use of these models for Prerequisites: FIN 402 and FIN 411 determination of exchange rates in a world of evaluating portfolio performance; and introduc- flexible exchange rates; speculation in foreign tion to special topics in financial markets, such FIN 430. Financial Institutions exchange markets; the Euro­cur­rency and as ar­bitrage pricing theory, options and futures measurement of foreign ex­change exposure; This course focuses on analysis of the mutual contracts. analysis of currency forward­, future, option, fund, investment banking, commercial banking bond, and swap contracts; hedging of foreign Prerequisites: GBA 412 or GBA 462 and FIN 402 and insurance industries. Particular emphasis exchange exposure. is placed on the effects of contracts and orga- Prerequisite: FIN 402 FIN 413. Corporate Finance nizational structure on the incentives of the participants in these industries. Recommended: FIN 411 This course provides an intensive analysis of the effects of various corporate financial policy Prerequisites: FIN 402; FIN 411 and FIN 413 (may decisions on the value of the firm, in­cluding a be taken concurrently) FIN 444. Entrepreneurial Finance discussion of the effects of taxes, bankruptcy (Same as ENT 444) costs and agency costs on these decisions. It FIN 433. Cases in Finance This course provides an introduction to finan- then examines the interrelation of financing This course provides intensive exercise in cial theories and tools an entrepreneur needs policy with executive compensation, leasing, valuation methods and the economic analysis to start, build and harvest a successful venture. hedging and payout policies. The course of problems of corporate financial policy. A Cases and lectures will cover business evalua- provides an understanding of the theoretical variety of other topics, including in­sider trading, tion and valuation, including the venture capital issues involved in the choice of these policies. portfolio performance and asset allocation, and the real option approach, financing, ven- Prerequisite: FIN 402 are also explored. Specific case topics include: ture capital funds, compensation structures and corporate valuations; M&A transactions (tender exit strategies. offers, mergers, proxy fights); recapitalizations; Prerequisites: FIN 402 stock re­purchases; and novel securities. Case reports are done in teams and judged on clarity and usefulness to practitioners in understand- ing and resolving strategic problems­. Prerequisites: FIN 402 and FIN 413

52 Simon Business School Course Catalog 2014-2015

absence of arbitrage and equilibrium. These FIN 446. Financial Information results are unified with two key concepts: Systems pricing kernels and martingales. The course draws connections between these concepts (Same as CIS 446) and makes plain the similarities between dis- This course examines the role that informa- crete and continuous time models. Applica­tions tion systems and telecommunications play in include term structure models, portfolio choices various aspects of financial markets, fi­nancial and the pricing of corporate securities. service organizations, and corporate finance. Technology’s transformation of financial mar- kets is studied from the perspectives of elec- FIN 511. Advanced Financial tronic trading systems competing with exchang- Economics es; Internet brok­er­age firms attracting trading (Alternates with FIN 534) and IPO’s and making markets; firms supplying The course builds on the basic theory present- company and market information, managing ed in FIN 505 Theory of Finance. FIN 511 will risk, and providing custodial and management emphasize some relatively advanced mathe- services. The course covers financial services matical methods that are used in the research issues such as electronic banking, automated literature of financial economics. The objective personal financial management, electronic pay- of the course is to provide the student with ment systems, and digital cash. Case studies enough knowledge of these methods that he or are used in many classes. she can begin to use them in nontrivial ways in Prerequisites: CIS 401 and FIN 402 his or her research. Particular emphasis is given to topics that are costly or difficult to learn on FIN 448. Fixed-Income Securities an individual basis. The objective of this course is to undertake a Recommended: FIN 505 rigorous study of fixed-income securities and markets. A variety of fixed-income se­curities FIN 532. Advanced Topics in Capital will be discussed including coupon bonds, Markets callable and putable bonds, sinking fund pro- This course covers classic contributions and visions, and floating rate notes. Interest rate recent developments in capital markets re­ derivatives such as forwards and futures on search, both applied theoretical and empirical, fixed-income securities, bond options, options in relation to corporate policies, business on bond futures, caps, floors, and collars will cycle and economic growth. Specific topics also be discussed. In addition, we will study include time-series predictability of stock mar- some tools that are useful in bond portfolio ket returns, empirical methods and evidence management including horizon analysis, dura- on the cross-section of re­turns, evidence on tion, optimization techniques for constructing mutual fund perform­ance and the closed-end bond portfolios and modes for pricing fixed-in- fund puzzle, event studies and the empirical come securities. While the perspective of this relations between stock returns and corporate course is from the viewpoint of a bond investor, policies, consumption-based asset pricing, a person in corporate fi­nance needs to under- applied equilibrium modeling of asset pricing stand similar material. Evaluating an investment anomalies and behavioral finance. in a fixed-income security is the mirror image of the problem faced by a corporation in deciding whether or not to issue a bond. FIN 534. Advanced Topics in Corporate Finance Prerequisites: FIN 402 and FIN 411 This course examines the determinants and consequences of corporate financial policy choices. Topics include: capital structure, bank- PhD Courses ruptcy and financial distress, payout policy, cor- porate control, leasing, hedging and insurance, FIN 501. Workshop in Finance raising capital, concentrated ownership, board Seminars discussing current research in finance structure, and executive compensation. Specific by faculty, students and guest speakers. PhD topics will vary from year to year. The course students are expected to participate actively. will investigate both the theoretical and empiri- cal literature on these topics. FIN 505. Theory of Finance The goal of this course is to present the theory of asset pricing and portfolio selection in mul- tiperiod settings under uncertainty. The asset pricing results are based on three increasingly restrictive assumptions: single-agent optimality,

53 Simon Business School Course Catalog 2014-2015

■ General Business their personal experiences. approximately 120 hours over a 10-week quar- Administration While the nomenclature will align most directly ter­. In their internship, students will focus on to high-technology for-profit start-up compa- the commercial viability of the firm’s offerings. Master’s-Level Courses nies, parallels to low-tech-no-tech, intra-pre- This will be accomplished through shadowing neurship, non-profits, and social entrepreneur- management, reviewing reports, participation GBA 411 and GBA 412. ship will be discussed. in meetings and work assignments. Framing and Analyzing Business Complementing this hands-on entrepreneurial Problems 1 and 2 experience will be weekly classes held to Framing and Analyzing Business Problems is a GBA 423. New Venture Development discuss student experiences. In addition, there two-quarter sequence. Both courses focus on and Managing for Long Term will be lectures on pertinent entrepreneurial teaching students how to ap­proach unstruc- Success subjects as well as guest speakers. (Same as ENT 423) tured business problems logically and empiri- Prerequisites: Completion of core courses, and cally with the goal of in­forming business strat- The focus of GBA 423 is learning how to pre- either ENT 422, 423 or 425. Permission of the egy and operational decisions. Issues stressed pare an effective business plan that will com- instructor MUST be secured prior to registra- throughout the two courses include: 1) framing municate the inherent value of the concept. tion. the relevant business question; 2) hypothesis Among the critical issues that will be addressed formulation; 3) searching for relevant informa- are: tion and data; 4) describing data and graphical GBA 426. Technology Transfer and analysis; and 5) communicating the analysis. • Competitive conditions and industry Commercialization While the courses are not meant to be “run trends (Same as ENT 426) of the mill” statistics courses, they introduce • Sustainable competitive advantages The creation of value in today’s globally com- important statistical concepts and tools includ- petitive environment is increasingly driven by ing basic statistical concepts (random variables, • Management team technology. Corporations are reaching out for probability, basic descriptive statistics, expec- • Marketing plan new technologies, and start-up companies with tations and variances); probability density and • Financial plan the highest potential are being formed around distribution functions (continuous and discrete novel disruptive technologies. Radical innovation distributions, joint and marginal distributions, • Exit possibilities creates a “gale of creative destruction” which binomial distribution and normal distribution); • Franchising transform industries. The identification and decision, risk and sensitivity analysis (risk and evaluation of technologies with high potential • Legal Entities risk attitudes, decision trees, value of infor- is today a key to success. With the decline of mation, Bayes’ rule); estimation (sampling, The approach used is appropriate for start-ups corporate research functions, novel technologies parameter, estimates, and confidence inter- and for corporate venturing. It is also suitable are increasingly sourced from other firms and vals); hypothesis testing (tests of means and for both for-profit and for non-profit organiza- universities. This course will examine the overall proportions and of differences) and regression tions. technology commercialization process, with an analysis. Also included is a social entrepreneurship emphasis on the processes by which intellectual module. property is protected, valued and transferred GBA 422. Generating and Screening from one organization to another. The course Entrepreneurial Ideas At the same time plans are prepared, other addresses the strategic decisions involving novel entrepreneurial issues are studied, such as (Same as ENT 422) technology: the identification of target markets, assembly resources, launching and building the economic valuation along the phases of the As the foundation course in Entrepreneurship, new ventures and harvesting results. commercialization process and the assessment GBA 422 covers: Lectures, cases and guest speakers are utilized. of alternative commercialization strategies • Idea Generation The speakers will address a range of new venture including licensing, startup company formation • Opportunities Screening topics from the development of management and venture capital funding. The course will teams, marketing, finance, venture capitalists and be taught by a combination of lectures and • Entrepreneurial Characteristics legal issues. The completion of a business plan for real-world case studies of current technologies, This course outlines a critical evaluation pro- a proposed new venture is required. primarily from the University of Rochester in sci- cess used by successful entrepreneurs to Prerequisite: Completion of core courses and ence, engineering and medicine. prioritize new venture ideas. The focus of this ENT 422 422 (after the Fall Quarter 2007) course is on the technical and market evalua- tion of very early-stage ideas when information GBA 427. Practicum in Technology ation is greatly lacking and the time and money to GBA 424. Projects in Transfer and Commercializ research such answers is also limited. Entrepreneurship (Same as ENT 427) (Same as ENT 424) Students, in group format, will generate and Students in this course will work in the Office filter their own ideas and evaluate them based Available to a limited number of students of Technology Transfer on projects which are upon technical merit, business challenges, and (10–15), this course combines a supervised a best fit to the student’s background and early market indicators. Teams will present their internship with a start-up firm with lectures the range of inventions from the University of idea-filtering rationale to a panel for review and and in-class discussion on the management Rochester in science, engineering and med- feedback. of new ventures. The internship places sec- icine. Projects can include either marketing ond-year MBA students, to be known as Simon to existing companies or work on catalyzing Behind this evaluation process, the class will Interns, with Rochester-area firms where they a startup company. Either type of project will review reference material on the subject and will work closely with senior managers for require assessments of novel concepts based several accomplished entrepreneurs will share

54 Simon Business School Course Catalog 2014-2015 on discussion with the inventors and direct GBA 444. FACt Business Project GBA 461. Core Economics for MS market research and interactions with potential This course is based on a project, either gen- Students customers. The skills required are primarily erated by a faculty member or provided by a This course covers the fundamentals of eco­ those of marketing and business assessment, corporate partner, that will provide the students nomic theory, and discusses marketing-rele­vant but some facility with technical content will with an opportunity to apply the Simon FACt applications. Specific concepts include under- be helpful. The students will prepare a tech- framework and the management theory taught standing demand and demand elasticity, mar- nology commercialization and/or new venture in the core and elective courses. Either way, ginal revenue, key cost concepts (fixed costs, plan and assist the licensing executives in the the faculty member will guide and mentor the variable costs, marginal costs, sunk costs), prof- University’s Office of Technology Transfer in the teams in using the management theory to solve it maximization, understanding the competitive negotiation process to implement the plan. a real world business problem. The teams will environment and strategic decision making, be required to present their ideas to the class and net present value calculations­. GBA 435. Negotiation Theory and and project sponsor. The grade will be based Practice: Bargaining for Value on all aspects of FACt: Framing of the problem, GBA 462. Core Statistics for MS (Same as ENT 435) analysis using the management theories, and Students the communication/presentation of the project. This course surveys the theoretical and behav- This course equips MS students with statistical ioral under­pinnings of negotiation practices skills necessary for data-driven decision mak- and develops skills that enhance the ability to GBA 450. Accounting, Economics and Finance for MS Students* ing. The course covers central tendency and capture value in cooperative and competitive variability, probability, binomial and normal dis- bargaining scenarios­. Students will participate (Same as HSM 450) tributions, standard scores, hypothesis testing, in and evaluate several cooperative and com- *Available only to MS students concentrating in z and t tests, ANOVA, correlation and regres- petitive negotiation simulations. Grades will Marketing and Health Sciences Management sion, and non-parametric tests. depend, in large part, on performance in these exercises. This course is designed to present the fun- damentals of economic analysis, financial GBA 482. Business Policy accounting and financial analysis that will (Offered at the discretion of the instructor) GBA 441. Business Ethics serve as a foundation for concepts devel- This course deals with business ethics and the oped throughout subsequent courses in the This capstone course focuses on how corpo- social responsibility of business organizations. MS Program. The objectives of this course rations and other forms of enterprise estab- It is designed to inform decision-making about are to enable participants to understand and lish aims and goals, determine strategies to ethical challenges arising in business. It will productively use the principles of managerial achieve those aims and goals and, subse- help students identify and manage difficult economics and accounting information to bet- quently, how those strategies are executed. ethical dilemmas they are likely to encounter ter structure business decisions. In addition, Emphasis is given to the concerns of top man- in their future careers. The course is organized the course will address the principles of capital agement leaders in anticipating and reacting to into four parts. It begins by looking at the place budgeting. The first five weeks of the course changes in the economic environment, chang- of business ethics in a competitive economy will be an economics and statistics module. es in the nature of market competition and and discussing fundamental questions about Basic concepts of managerial economics will how action is stimulated to produce desired the ethical responsibility of business corpora- be covered including demand and demand responses in the enterprises they govern. The tions. Next, it addresses ethical issues faced by elasticity, marginal revenue, key cost concepts course consists of lectures and discussions individuals in business organizations, including (fixed costs, variable costs, marginal costs, sunk supplemented by the analysis of recent com- the complex nature of managerial responsi- costs) and profit maximization. The module will plex cases involving well-known international bilities, whistle-blowing, and insider trading. It also introduce basic statistical concepts such corporations in contemporary situations. Both also explores the responsibilities of business as probability distribution functions, estimation individual and team reports are required, and corporations vis-à-vis clients, customers, and (sampling, estimates and confidence intervals) students are expected to use computer-based employees, discussing issues such as profes- and hypothesis testing. market forecasting and financial-simulation sional conflicts of interest in financial services, techniques to analyze the “what if” problems The remaining six weeks of the course—the information disclosure in advertising, fairness faced by senior managers in these cases. Oral accounting and finance module—will present in sales practices and in hiring and treating and written reports are graded on the clarity of skills required to interpret and analyze common employees. Finally, it analyzes some ethical presentation as well as the quality of analysis. financial statements and evaluate a company’s questions specific to business decisions in the past performance and potential future perfor- Prerequisite: completion of core courses health sector. mance. Specific topics of discussion will include differences in financial statements of for-profit GBA 486. Management of GBA 442. Improving the Simon vs. not-for-profit entities, financial statement Technology analysis, development of pro-forma financial School (Offered at the discretion of the instructor) (Not offered every year) statements, cash vs. accrual­ accounting, depre- ciation methodologies, introduction of manage- This capstone course focuses on the strate- This course is an applied consulting class and ment accounting concepts and capital budget- gies of international corporations that seek a is being offered to provide students with an ing. Capital budgeting will include net present sustainable competitive advantage through insight to the “industries” within which the value (NPV), pay-back, accounting rate of return technological innovation. In­struc­tion consists University of Rochester and its Simon Graduate (ARR) and internal rate of return (IRR). of lectures, guest speakers from the business School of Business operate while generating community and case presentations. Topics significant ideas for improvement for the Simon include: the definition of corporate strategy; the School. C.E.O.’s role as leader as well as manager; the Prerequisite: Permission of the instructor analysis of the firm’s competitive position; the 55 Simon Business School Course Catalog 2014-2015 development of the firm’s core competencies; acceptance of the internship. Upon completion GBA 494. Foreign Language the management of research and development; of the internship assignment, the student must Transfer Credit fast-cycle product development; cross-func- prepare a 10- to 12-page report detailing its Credit—three hours tional teams; achieving product quality through outcome(s) and stating whether the proposed technology; a comparative analysis of patent learning objectives were met. PhD Courses law in the U.S. and other countries; structuring Prerequisite: completion of all core courses strategic alliances between large and small firms; international joint ventures; and the GBA 591. PhD Reading Course GBA 490E. Integrating Business acquisition of small, high-tech firms by large GBA 594. PhD Independent Study corporations. Student teams play the role of Theory and Practice principals in a management consulting firm Credit—one hour GBA 595. PhD Research (“Simon Associates”) that has been retained This course is designed to give students an GBA 995. Continuation of Doctoral by the CEO of a technology-based cor­poration opportunity to apply business-management Enrollment to develop strategic options and recommen- theories they have learned in their Simon dations for the solution of a complex business School studies while they are assigned as GBA 999. Writing Dissertation problem with marketing, operations and finan- unpaid interns. cial implications. Oral presentations, manage- ment memos and written reports are graded on These unpaid internships allow students to the clarity of presentation as well as the quality work in business settings and situations in of analysis­. which they receive on-the-job training from management personnel and gain valuable Prerequisite: completion of core courses practical experience in performing profession- al-level tasks in their area(s) of concentration. GBA 490. American Business GBA 490E, Integrating Business Theory and Practice Practice, which cannot be used to complete a Credit—one hour concentration in the MBA program, is open to international students who are not yet eligible This course is designed to give non-U.S. stu- to work in the United States or to any domestic dents an opportunity to apply business-man- student who has completed at least two quar- agement theories they have learned in their ters of study. Simon School studies while they are assigned as interns (minimum of six weeks) with U.S. Students should complete a GBA 490E form, companies. Internships allow students to work meet with the Student Services director and in business settings/situations in which they then bring the approved paperwork to the receive on-the-job training from management Simon School registrar’s office for processing. personnel and gain valuable practical experi- Upon completion of the internship assignment, ence in performing professional-level tasks in the student must prepare a one- to two-page their area(s) of concentration. GBA 490, which report detailing the outcome(s) and stating cannot be used to complete a concentration whether the proposed learning objectives were in the MBA program, is open only to non- met. U.S. students who are eligible to work in the United States. An eligible student, as de­fined GBA 491. Reading Course by immigration regulations, is a degree can- (Offered at the discretion of individual faculty­) didate who has lawfully resided in the United States on visa status for at least one academic Supervised reading and study on topics beyond year (eight to nine months) prior to starting those covered in existing formal courses. an internship position. Students who plan to enroll in GBA 490 must communicate with the GBA 492/493. International University of Rochester’s International Services Exchange Programs Office (ISO) regarding the submission of proper (Open to full-time and part-time MBA students; documentation for employment. They should GBA 492—six credits; GBA 493—nine credits) inform Simon School Career Management of their plans to seek a business internship, and The International Management–Exchange they should sched­ule an appointment with option of the International Management con- Career Management to discuss career interests centration gives students opportunities to par- and employment-search strategies. When/if an ticipate in one of several exchange programs. internship is obtained, the student must meet See the chart on page 51 of this guide for with a GBA 490 faculty advisor to prepare a details. proposal describing the location and nature of the assignment and the planned functional area of study. The proposal, which will include specific learning objectives, must be approved by the faculty advisor prior to the student’s

56 Simon Business School Course Catalog 2014-2015

■ HEALTH SCIENCES HSM 431. Applications of Specialized Courses MANAGEMENT­ Corporate Finance and The courses below are only available to stu- Gerard J. Wedig, Area Coordinator Governance to Health Care dents in the Master of Science in Business This course applies the principles of corporate Administration with a concentration in Medical Master’s-Level Courses finance and governance to the institutional set- Management program. ting of health care. It draws on the principles of HSM 420. Business Economics of financial valuation, investments and corporate HSM 450. Accounting, Economics the Health Care Industry financing, as well as the economics of organi- and Finance for MS Students* zations and corporate governance, to analyze This course aims to educate students about (Same as GBA 450) current management problems in the health the unique business institutions and problems care sector. The primary purpose of the course *Available only to MS students concentrating in of the health care industry so that students is to gain an understanding and comfort level Marketing and Health Sciences Management can be prepared to apply their core business with applying economic and financial theories knowledge to solve managerial problems in the This course is designed to present the fun- within the unique institutional setting of health health care industry. The course will consist of damentals of economic analysis, financial care. an overview of the major institutions of the US accounting and financial analysis that will health economy as well as an economic analy- Prerequisites: STR 403, ACC 410. In addition­, it serve as a foundation for concepts devel- sis of these institutions. is strongly recommended that students com- oped throughout subsequent courses in the plete FIN 413 and HSM 430 be­fore taking this MS Program. The objectives of this course course. are to enable participants to understand and HSM 425. Managerial Accounting productively use the principles of managerial for Health Care Organizations economics and accounting information to bet- (Same as ACC 445) HSM 437. Managing Health Care ter structure business decisions. In addition, Costs for health services continue to rise faster Operations the course will address the principles of capital than overall economic growth, drawing ever (Same as OMG 437) budgeting. The first five weeks of the course will be an economics and statistics module. greater attention from employers, governments The health care industry is undergoing rapid Basic concepts of managerial economics will and consumers. The front line of the cost battle growth as well as rapid structural changes. be covered including demand and demand is within the health services entities, where New technology, changing reimbursement elasticity, marginal revenue, key cost concepts decision making depends on accurate report- mechanisms, and increased competition create (fixed costs, variable costs, marginal costs, sunk ing of internal costs. This cost will allow the stu- many interesting management problems, not in costs) and profit maximization. The module will dent to understand how costs are reported and the least in the area of health care operations. also introduce basic statistical concepts such how to use this information to make decisions In this course, we will study the operations of as probability distribution functions, estimation within the health services entity. The following various types of health care provider organiza- (sampling, estimates and confidence intervals) topics will be examined within a health services tions (such as hospitals, HMO’s, group practic- and hypothesis testing. setting: cost allocation, cost-volume-pricing es, nursing homes, etc.) and other participants analysis, budgeting and variance analysis, and in the industry (such as insurance companies, The remaining six weeks of the course—the activity-based costing. pharmaceutical companies, suppliers and accounting and finance module—will present HSM 430. Health Sciences consulting companies). Topics that will be stud- skills required to interpret and analyze common Management and Strategy ied include: patient and pro­vider scheduling, financial statements and evaluate a company’s (Same as STR 430) capacity management, providing services and past performance and potential future perfor- supplies to health care providers, new product mance. Specific topics of discussion will include This course applies the principles of organiza- development and integrated delivery systems. differences in financial statements of for-profit tional economics and strategy to the institution- vs. not-for-profit entities, financial statement Students who took OMG 402 or similar need al setting of the health sciences. The course analysis, development of pro-forma financial to obtain instructor’s permission prior to regis- focuses on the interdependence between the statements, cash vs. accrual­ accounting, depre- tration. delivery, financing, and technology sectors of ciation methodologies, introduction of manage- the health care marketplace. It discusses how ment accounting concepts and capital budget- management and strategy choices within each HSM 440. Evolving Medical Markets ing. Capital budgeting will include net present sector are responses to the unique institutional (Same as BPP 440) value (NPV), pay-back, accounting rate of return factors in the health care marketplace and how (ARR) and internal rate of return (IRR). the strategies of each sector affect the behav- Firms supplying products and services to the ior of the others. Students will leave the course health care industry face a variety of regu- with an ability to think productively about man- latory and marketing challenges that will be HSM 451: Health Care Marketing agement and strategy challenges within each explored in this course. Topics include: the and Business Plan Development of the three health science sectors. economics of developing and marketing new Basic marketing concepts are integrated with medical technologies, regulations affecting the unique institutional features of health care Prerequisite: STR 401 or GBA 461 market structure, health and safety regulations markets to develop a framework for producing Recommended: STR 403, STR 421 and insurance markets. The course will cover a marketing and business plan for a health care evaluation tools frequently used in public policy organization. A special focus is placed on the de­bates and in marketing medical technologies practical elements of learning how to produce including cost-benefit and cost-effectiveness business plans. analysis and quality of life indices.

57 Simon Business School Course Catalog 2014-2015

HSM 452: Health Care Accounting they argue persuasively that the recommenda- and Finance tions based on the analyses are valuable and Basic concepts in finance and financial should be implemented. Teams of three to four accounting are combined with material devel- students will be responsible for the individual oped in ACC 410 to develop a framework for projects, and will meet with the instructor indi- financial decision making, financial planning, vidually. The organizations submitting projects assessment and control. The goal of the class must be willing to spend time with students and is to provide students with a set of tools to first to provide appropriate data. make financial decisions about programmatic development. In addition, students will be HSM 456: Practicum in Medical taught to assess and control programs toward Management 2 specified financial goals. A continuation of the project from HSM 455. Prerequisite: HSM 455 HSM 453: Health Care Operations This is an advanced course on operations management for health delivery organizations. We will study the application of operations management concepts to the management of health care provider organizations (such as hospitals, group practices, HMO’s, nursing homes, etc.), and other participants in the health industry (such as insurance companies, pharmaceutical companies, consulting busi- nesses, etc.). Applications will include both medical and administrative operations. The course will use a mixture of cases, lectures, in-class exercises, and guest lecturers. Part of this course will be closely integrated with Operations 402, extending and applying concepts from the introductory course to prac- tical problems in health care administration. However, a significant part of the course will focus on quality and process improvement, a topic that is not covered in Operations 402.

HSM 454: Designing and Optimizing Health Care Organizations Concepts developed in STR 403 are ap­plied within a health care setting to teach the stu- dent: 1) how to design compensation plans that attract, retain and motivate medical profession- als; and 2) how to organize tasks within (and outside) the organization to achieve coordina- tion and efficiency­.

HSM 455. Practicum in Medical Management This course provides students with hands-on experience with a medical management proj- ect. It develops skills in formulating a problem, working with data, finding possible solutions and delivering recommendations, all within a fixed time frame. Students will learn to produce analysis, but also have to argue persuasively that the recommendations based on the analy- sis are valuable and should be implemented. Projects require that students not only apply analyses learned in the classroom, but also that

58 Simon Business School Course Catalog 2014-2015

■ MANAGEMENT SCIENCE MSM 504. Theory of Probability MSM 522. Optimization METHODS and Stochastic Processes I This course introduces unconstrained and The course provides an introduction to sto- constrained optimization in finite dimensional Master’s-Level Courses chastic processes. Topics include the Poisson spaces. Topics include convex sets and func- process, renewal theory, Markov chains, tions, Kuhn-Tucker theory, Lagrangian duality, MSM 400. Mathematics Review semi-Markov and Markov renewal processes, parametric continuity, dynamic programming, Non-credit and regenerative processes. and parametric monotonicity. Review of mathematical concepts prereq­uisite Prerequisite: Some knowledge of functions of Prerequisite: Some knowledge of linear algebra to the MBA program. Topics in­clude: sets, a real variable (MTH 265) and probability (BST and functions of a real variable vectors and matrices, functions and relations, 401) linear equations, laws of ex­ponents, limits and MSM 533. Dynamic Programming continuity, differentiation, maxima-minima, par- MSM 505. Theory of Probability Dynamic Programming (DP) is a recursive tial derivatives and simple integration. and Stochastic Processes II approach to obtaining optimal solutions to The course will study advanced topics in sto- sequential decision problems. DP can be used MSM 491. Math for Management chastic processes, with emphasis on problem for either finite-horizon or infinite-horizon prob- modeling and computation. The following top- Credit—two hours lems, and is applicable to both deterministic and ics will be covered: models using discrete time stochastic problems. This course will treat both This is a master’s level math class that is more Markov chains, optimal stopping and discrete theoretical and computational aspects of DP. intensive than MSM 400. Analysis and concepts time Markov chains, models using continuous Prerequisite: MSM 522 in modern business analysis rely heavily on time Markov chains, Markov decision processes quantitative methods. The objective of this for discrete time Markov chains, and if time course is to bring incoming MBA or MS stu- permits, diffusion processes/martingales. MSM 535. Network and Integer dents “up to speed” with respect to the math- Programming ematical and statistical knowledge expected of MSM 506. Management Science This course covers the solution of network them. The complexity of the course is on part Methods problems and integer programs. Shortest with (college) freshman-year calculus, algebra path, minimum spanning tree, maximum flow, and introduction to probability and statistics. The purpose of this course is to introduce PhD students to a variety of operations research minimum-cost flow and matching are some Necessary theories and intuition behind them of the network problems covered. Algorithms will be covered. The focus of the course is pri- and management science methods in an applied setting to develop their modeling abili- for linear-integer and mixed-integer problems marily on applications in business, eco­nomics include branch and bound, implicit enumeration, and related areas. ties. The emphasis of the course is on defining problems, building models, and analyzing the primal and dual cutting planes, group theoretic Math for Management is offered in the sum- models to gain some insight, in other words, methods, Lagrangian relaxation and surrogate mer quarter only. While it is not a required critical research skills. This course will draw relaxation. These algorithms are illustrated on course for the credits required for the MBA or upon both deterministic optimization methods classical integer problems such as the knapsack, MS degree, it will be a graded class to give and stochastic models but not their theory. set covering/partitioning and traveling salesman. students an assessment of their mathematical These will include linear programming including skills. The GPA will appear on the official tran- integer and network formulations, basic queue- MSM 542. Queuing Theory and script, but will not be included in the cumulative ing models (M/M/1, M/M/n, M/G/1), and Monte Applications GPA for the MBA or MS program. Carlo simulation. The course offers in-depth study of queues and networks of queues, including single- and multi- PhD Courses MSM 509. Informational Sciences server-queues; Markovian models of phase-type and Large-Scale Algorithms systems; open-and-closed networks of queues; MSM 501. Quantitative Methods product-form solutions and local balance; bottle- Colloquium This course examines recent methodological neck-analysis approximations and computational Non-credit and modeling advances for solving large aspects. It also covers applications to schedul- business problems. It includes summaries of ing, re­source allocation and capacity-expansion This is a forum for the presentation of on-going numerical analysis techniques, artificial intel- and recently completed work by students, fac- de­cisions in service systems, computer systems ligence and heuristic optimization tech­niques and job shops. ulty and guest lecturers. (neural networks, genetic algorithms, tabu search and simulated annealing), and modeling Prerequisite: MSM 504 or Medical School course MSM 502. Linear Algebra and techniques (decomposition, aggregation, scal- BST 402, or permission of the instructor Linear Programming ing and dimensional analysis). The advances This course provides an introduction to linear in optimization techniques include primal and MSM 549 Markov Decision algebra and linear programming. The topics dual decomposition, distributed algorithms, Processes covered are: definitions and examples, intro- various projection and relaxation approaches, This course is as an introduction to sequential decision-making and it reviews the theoretical duction to linear algebra, the simplex method, inner and outer linearization, aggregation and bounds. foundations of dynamic programming, stochas- starting solution and convergence, the revised tic control, and Markov decision processes. simplex method, duality and sensitivity analysis, Prerequisite: MSM 535 or permission of the Much of the course is devoted to the theoret- and (if time permits) the structure of convex instructor ical, modeling, and computational aspects of polyhedral sets. Offered in the summer, primari- Markov decision processes. Applications in the ly for entering doctoral students. area of production and inventory, finance, and marketing are explored. Prerequisites: MSM 504 and MSM 505 or 59 equivalent. Simon Business School Course Catalog 2014-2015

■ Marketing with strategies such as bundling, tie-in sales, campaign objectives, segmentation and tar- Dan Horsky, Area Coordinator quantity discounts, product-line pricing, and geting, budgeting, media placement, message de­mand buildup. The course will cover ways of strategy, creative de­velopment, persuasion Master’s-Level Courses predicting competitor-pricing responses, and and measurement of advertising effectiveness it will discuss a firm’s legal environment as it are discussed. More specialized units consider MKT 402. Marketing Management pertains to pricing. Internet and global/cross-cultural advertising. Sales promotion techniques are also discussed, This course is our introduction to marketing. Prerequisites: STR 401 and MKT 402 (may be including consumer promotions (e.g., sampling, The viewpoint is that of a manager making mar- taken concurrently) coupons, premiums, contests) and trade pro- keting decisions in a variety of competitive and motions (e.g., buying allowances, cooperative institutional settings. Con­sidered are: consumer MKT 431. Consumer Behavior advertising). Other elements of promotion dis- behavior, marketing research, product design, cussed include public relations, sponsorships advertising, salesforce management, pricing The course studies buyer behavior in consumer­ and personal selling. and distribution channels. and industrial markets. Topics include: culture, social class, consumer in­volvement, motiva- Prerequisite: MKT 402 Prerequisites: STR 401 or GBA 461 and GBA 412 tion, knowledge, attitudes and group decision or GBA 462 (may be taken concurrently) making. Besides theory, the course also covers applications to product, advertising and pricing MKT 435. Channels Strategy MKT 412. Marketing Research decisions. This course deals with the issues that arise in designing and managing distribution channels This course deals with the collection and use Prerequisite: MKT 402 and salesforces. A central theme of the course of data to support marketing decisions. The is that these entities perform both a tactical/ first part of the course teaches the student operational function as well as a strategic how to formulate the research problem, design MKT 432. New Product Strategy function and that both aspects need to be con- the research and collect the data. Among the This course examines the issues involved sidered in their design and management. The data-collection techniques discussed are: ques- in the planning and introduction of new brands course looks at a number of design options, tionnaire design; telephone, mail and electronic and the management of existing brands. The ranging from direct distribution through a surveys; and laboratory and field experiments. approach taken is analytical and consistent salesforce to a complex, multi-layered channel The second part of the course examines vari- with some of the more up-to-date methods consisting of several layers of intermediaries ous tech­niques for analyzing data: cross-clas- used by companies. The course starts by exam- such as wholesalers and retailers. sification analysis, factor analysis, multidimen- ining the product class in which the firm is con- sional scaling, conjoint analysis, etc. As part sidering either repositioning an existing brand Managing a channel requires an understanding of the course requirements, teams of students or introducing a new brand. We study how of the competitive and cooperative aspects design, administer, analyze and report on an consumers choose a brand within the product of manufacturer-distributor relationships. The actual marketing-research study. class. This includes the theory and estimation course evaluates the efficiency of contractual of the multiattribute utility model. Leading on arrangements like exclusive territories, exclu- Prerequisites: MKT 402 and GBA 412 or from this, we study how to reposition an exist- sive dealing re­quirements and resale-price GBA 462 ing brand and optimally design a new brand or maintenance from the manufacturer’s and the a line of brands. Procedures for lab and mar- distributor’s point of view. Finally, an assort- MKT 414. Pricing Policies ket testing of a new brand are reviewed. We ment of contemporary issues in channels—such (Same as STR 423) proceed by evaluating the current and future as everyday low pricing versus promotional Pricing is one of the most important, least sale of the product class through the diffusion pricing, slotting allowances, the shift in bar­ understood, and most controversial decisions model. A discussion is held on the marketing gaining power from manufacturers to retailers a manager has to make. These decisions often mix policies for brands over the product life for consumer goods, growth of store-labeled have significant long-term im­plications for a cycle. The course concludes with an evaluation brands, the role of the Inter­net and new forms firm’s bottom line. The purpose of this course is of the portfolio of product classes in which the of retailing—are discussed. In addition, a num- to help future managers make good decisions firm ought to compete. A group project involv- ber of modeling and quantitative techniques by preparing them to analyze the environment ing the development of a marketing strategy are studied that help implement the strategies in which their firm operates and to arrive at an for an existing brand with emphasis on its repo- discussed in the course. appropriate pricing policy for their product or sitioning is required. On the salesforce front, the course delves into service. More specifically, the objectives of the Prerequisites: MKT 402 and GBA 412 or a number of critical issues such as performance course are: 1) to develop an understanding of GBA 462 measurement, territory decision, quotas and the relationship be­tween a firm’s environment compensation design. (e.g., cost, demand, competition, and legal MKT 433. Advertising Strategy Prerequisite: MKT 402 aspects) and its optimal pricing strategy, and 2) This course explores the tools available to to develop skills in applying this understanding. marketers for the promotion of products and MKT 436. Marketing Analytics There are several components to the course: services. The integrated marketing communi- elasticity of demand and relevant costs, price cations philosophy is stressed, and principles Advances in information technology have discrimination and market segmentation, and of consumer behavior are discussed as the created opportunities for firms to gather more competitive pricing. Stu­dents will learn the starting point for the analysis of promotion detailed information on their customers and fundamentals of economic-value analysis and decisions. Advertising is the main focus of competitors. The enormous volume of infor- break-even analysis, and will be made familiar the class, and issues such as the setting of mation which companies now collect poses

60 Simon Business School Course Catalog 2014-2015 many new challenges. The basic question we short-term contracts—and potential issues with address in this course is: “What can one do every form, touching on transfer pricing and MKT 444: B2B Marketing with all of this data?” Our goal is to integrate outsourcing. In the second part of the course, statistical models and marketing models with we analyze a crucial concept of cost pass- This course involves all of the basic marketing data and decisions. through (how much a retailer should decrease functions but it takes on a totally different com- plexion in that it involves organizations ( profit and In this course, students will learn how database the retail price in response to a decrease in the wholesale price) and the effect of manufactur- not profit ) that acquire goods and services that marketing provides the management with are utilized in the production of others goods and specific information needed to identify the er’s advertising on the retailer and on the chan- nel overall. This course is a natural continuation services or are used in the overall operation of target customer and to retain her or him for a the organization. lifetime, if possible. In the absence of database of Pricing for those who are interested in work- marketing philosophy, managers would be left ing in an industry where a significant portion Besides the major commercial organizations that with mass marketing and segmented marketing of sales is done through independently-owned make up a sizeable percentage of B2B compa- techniques that are not effective and efficient in retailers, whether students are planning on nies, there are institutional organizations in the to­day’s information intensive, high-tech, global working on the retailer side or on the manufac- mix as well – hospitals, colleges, universities markets. turer side of this industry. and government. B2B marketing involves several distinct characteristics such as: larger, fewer What is database marketing (DM)? How is it purchases, centralized buying decisions, multiple different from traditional marketing methods? MKT 439. Advanced Pricing buying influences, close supplier/customer rela- Database marketing is a segmentation process (Same as STR 439) tionships etc. that utilizes state-of-the-art statistical methods This course builds on MKT 414/STR 423 to equip and computerized databases of customers to The overall market tends to be global in nature students with the necessary skills to make and technology is a major influence. reach the individual consumer. profitable pricing decisions in complex busi- Prerequisites: Dependent upon instructor. This course also examines direct marketing in ness environments. Topics include: pricing with depth, since the roots of database marketing constrained supply, pricing in the presence of are in direct marketing. Direct marketing is the uncertainty about demand, markdown manage- MKT 448. Brand Strategy type of marketing that recognizes the individual ment, advance selling, pricing on the internet, In this project-based course, students consult as the target rather than the entire market. pricing in the presence of direct or indirect with the senior leadership teams of local com- Direct mail, telemarketing, catalog shopping, network effects, selling through auctions, and panies that are in need of a brand strategy. Web-based marketing and relationship market- behavioral and ethnical aspects of pricing. The In doing so, students address the following ing are related topics that will be covered in course also includes a comprehensive pricing questions: this course. simulation. • What is the firm’s desired brand strategy­? Prerequisites: MKT 402 and GBA 412 or GBA 462 Prerequisite: MKT 414 or STR 423 • How does the firm currently see its brand? • How does the marketplace perceive the MKT 437. Digital Marketing MKT 441. Brand Management firm? (Internal and external perceptions rarely Strategy (Same as CIS 437) This course is the capstone course of the Brand match.) This course examines the major issues involved Management Track. Lectures focus on scanner • What can the firm do organizationally (hiring, in marketing on the Internet. Among the topics data analysis, and guest speakers discuss time- studied are: new product opportunities on the structure, incentives, etc.) to move toward pro- ly brand management topics. The main focus is viding the desired brand? Internet; the changed role of advertising; the a team project performed for a major consumer Internet as a two-way communication medium packaged goods firm, requiring the analysis • What can the firm do using marketing activi- with consumers; targeting individual consum- of various current data sources, most notably ties, including product and service experiences, ers; word-of-mouth among consumers on the scanner data. The major deliverable is a pre- to move consumer perceptions toward this Internet; the Internet as a distribution channel; sentation to the client by each team of their desired positioning? and marketing research on the Internet. findings. Typically, this amounts to performing a The course introduces students to an intuitive Prerequisite: MKT 402 brand review. framework in which to develop answers to Prerequisite: MKT 412 (may be taken concur- these questions and a series of research tools rently­) to collect the needed information. Students MKT 438. B2B Pricing then actually use these tools to help a local (Same as STR 438) company design brand strategy. Students will learn the major differences in MKT 442. Special Topics in Marketing Students in this course realize several mean- pricing strategies between selling to consum- ingful benefits: ers (as in MKT414/STR423) and to other firms (Not offered every year) which then deal with consumers. The course • Greater preparedness to add immediate Special topics are generally those which are value in the corporate workforce, where they starts by analyzing the pricing problem of a not well covered in othe other courses, or they manufacturer selling to a retailer. We examine are sure to come across the topic of brand may deal with marketing in selected industries building. This class provides them with practical the issue of double marginalization, and learn (e.g., financial services, high-tech marketing, how two-part tariffs get us out of this problem. exposure to a proven methodology and an etc.). The specific content of the course varies, array of appropriate tools for aligning organiza- We also examine different forms of contractual depending on faculty interests. relations—from vertical acquisitions to regular tions going through a brand transformation or Prerequisite: permission of the instructor en­gag­ing in a brand-related project.

61 Simon Business School Course Catalog 2014-2015

• Access to senior level leadership challeng- is “hands-on” and students should expect to be MKT 513. Advanced Topics in es. This course provides an opportunity for proficient in SAS® by the end of the quarter. The Marketing III students to interact regularly with the upper course will have some assignments and a “real- In this third part of a three-part sequence that management of the participating company, world” consulting project. prepares PhD students for research in market- thereby enabling them to learn from real-life, Students will be exposed to the theoretical ing, topics are discussed in a format similar to demanding experiences. underpinnings and practical applications of var- MKT 511 and MKT 512. Class sessions consist of lectures relating to ious analytical and econometric models. These Prerequisite: permission of the instructor brand strategy development methodologies include, but are not limited to: and tools and discussions pertaining to the • Linear and Nonlinear Regression (Demand/Share course project. Multiple team meetings with the Estimation) client firm outside of the scheduled class times are required. Grading is based on peer, profes- • Systems of Equations Estimation (Market sor and client evaluations of team success­. Equilibrium Models) Prerequisite: MKT 402 • Models for Binary and Ordered Responses (Scale Responses) MKT 449. Global Marketing • Multinomial Discrete Choice Models (Consumer Strategy and Brand Choice) This course will develop the concepts of mar- • Other Limited Dependent Variable Models keting strategy in the context of the resource- including Count, Censored and Duration models. based view of the firm and the market focus (Interpurchase time, Selectivity etc.) view of the firm. Marketing strategy formulation • Multivariate Methods (Factor Analysis, Cluster and implementation will be related to strate- Analysis etc.) gies at the corporate and business unit level as well as other functional areas of the orga- This course is not for everyone and requires nization. The analytical tools and concepts for some proficiency in (or aptitude for) math/statis- strategic analysis will be developed from basic tics and programming. economic principles. Core MBA subject matter will be integrated in the course as a part of the analysis and construction of a marketing PhD Courses strategy. The course examines the importance of bilateral information flows between the firm MKT 501. Workshop in Marketing and the marketplace in defining new product Non-credit requirements, changing competitive conditions, This workshop provides a forum for the pre- product advertising, and strategic commitment. sentation of ongoing and completed research The course consists of lectures and classroom by students, faculty and visiting scholars. PhD discussion of contemporary cases in services students are expected to participate actively. and tangible products. The case discussions Prerequisite: permission of the instructor will illustrate how the entire organization is affected by strategic marketing decisions. The definition of new core capabilities and the use MKT 511. Advanced Topics in of existing unique resources in creating com- Marketing I petitive advantage will be explored. Special This course is the first leg of a three-part em­phasis will be given to the impact of global- sequence that prepares PhD students for ization and technology on the formulation and research in marketing. The presentation of implementation of marketing strategy. topics between the three parts may vary from Prerequisite: MKT 402 year to year. The aim is to survey the literature, assess progress and identify opportunities for future research. MKT 451. Advanced Marketing Analytics Prerequisite: permission of the instructor The course is primarily designed for students (both MBA and PhD) who have a quantitative incli- MKT 512. Advanced Topics in nation towards marketing and strategy but will Marketing II also be useful for students in other areas looking In this second part of a three-part sequence to hone their quantitative skills. The course will that prepares PhD students for research in mar- guide students through various aspects of data keting, topics are discussed in a format similar related issues, problem framing, programming to MKT 511. and computational analysis and the communica- tion and presentation of managerially relevant Prerequisite: permission of the instructor findings. The course relies heavily on using SAS® as a computational engine and MS® EXCEL® as a presentation and simulation device. All instruction

62 Simon Business School Course Catalog 2014-2015

■ Operations Management course provides a foundation for the analysis small outside project for the class and a series Abraham Seidmann, Area Coordinator and im­provement of businesses, paying par- of in-class simulations. You will learn to use two ticular attention to the service sector. The type additional tools that support the questioning Master’s-Level Courses of analysis learned in this course is required that leads to good data acquisition: process in virtually every industry as companies work mapping (of the process you will be improving) to improve their bottom-line performance. The and thought process mapping (of the process OMG 402. Operations Management best way to improve performance is through a you use to solve the client’s problem). holistic approach, where the structure of pro- Prerequisite: OMG 402 Operations Management introduces the con­ cesses, information and technological require- cepts and skills needed to design, manage and ments, and the managerial implications, are OMG 416. Project Management improve service and manufacturing operations. considered concurrently. The methodologies The topics treated in this course span a wide The course develops a managerial perspective developed in this course will provide a frame- spectrum of issues, concepts, systems and of the operations function and an appreciation work for analysis that will remain constant amid techniques for managing projects effectively of the role that operations plays in creating the many different types of services analyzed. in today’s complex business environment. and maintaining a firm’s competitive edge. The Please note that this course is case intensive. Students are led through a complete project life course introduces process analysis, perfor- Prerequisite: OMG 402 cycle, from requirements analysis and project mance measurement systems for operations definition to start-up, re­views, and phaseout. and production control systems. Important techniques for controlling project Quantitative models and case studies ap­ply OMG 413. Operations Strategy costs, schedules, and performance are studied. these skills to service process management, For many firms, the operations function mar- The course employs a combination of lectures, manufacturing, inventory control, supply chain shals the majority share of a firm’s assets case analyses, business/project simulations, management and project management. The and resources while producing products and videos, Internet resources, and group discus- course highlights the role of effective opera- services. Decision making in operations can sions to develop the conceptual understanding tions management in the strategic direction of have a decisive effect on both the cost and the and operational skills needed for effective the firm as well as the connections between attractiveness of the firm’s outputs. Thus the managerial role performance. operations and other functional areas. management of operations activities is a criti- Prerequisite: OMG 402 Prerequisites: CIS 401, GBA 411, and GBA 412 or cal factor in a firm’s competitive strategy. This GBA 462 is a course that explores operations related decisions in the context of overall business, OMG 437. Managing Health Care operations, financial and marketing strategies. Operations OMG 411. Supply Chain Management Strong emphasis is given to valuation of differ- (Same as HSM 437) This course gives an overview of supply chain ent operational strategies and NPV analysis. The health care industry is undergoing rapid management in a wide variety of industries Many types of operations decisions are consid- growth as well as rapid structural changes. such as: groceries, style goods, consumer ered: location, capacity, sourcing, flexibility, and New technology, changing reimbursement electronics and services. The impact of shifts process choice. Risk management and financial mechanisms, and increased competition create from traditional channels to e-commerce will evaluation of capital projects will be discussed. many interesting management problems, not in be emphasized. New initiatives introduced to In addition to financial evaluation, students will the least in the area of health care operations. address these new challenges, such as vendor analyze the fit of strategic choices in the com- In this course, we will study the operations of managed inventory (VMI), variety postpone- petitive context a firm faces. Every class will various types of health care provider organiza- ment, cross docking, real options contracts and involve a case study. tions (such as hospitals, HMO’s, group practic- quick response, will be studied and applied Prerequisite: OMG 402 es, nursing homes, etc.) and other participants both in class and assignments. Supporting in the industry (such as insurance companies, software, such as Enterprise Resource Planning pharmaceutical companies, suppliers and (ERP) and supply chain tools, will also be dis- OMG 415. Process Improvement consulting companies). Topics that will be stud- cussed. After completing this course, the stu- This course will teach a systematic method for ied include: patient and pro­vider scheduling, dent should be able to characterize the supply understanding and improving ongoing business capacity management, providing services and chain issues in an industry/firm, and evaluate processes. The techniques you learn in this supplies to health care providers, new product current practice as well as identify improve- class provide a systematic method of asking development and integrated delivery systems. questions, collecting data, and analyzing that ment opportunities. Prerequisite: OMG 402 data to learn how processes work (or are Prerequisite: OMG 402 failing) and what can be changed to improve them. The statistical techniques you will learn OMG 460. Special Topics in OMG 412. Service Management are SPC (Statistical Process Control, used as Operations Management Success of service management critically a proactive tool for investigation rather than This course provides a critical study of selected depends on managing the integration of busi- its traditional role as a reactive tool), MSA topics in operations management focusing on ness processes with customers as well as all (Measurement Systems Analysis, for determin- best practice and the status of research efforts related support systems (technology, human ing if your measurement system is capable), to date. Potential topics are: yield manage- resources, information flow). This integration FMEA (Failure Modes and Effects Anal­ysis), ment, operations and information management presents a challenge to service managers who and DOE (Design of Experi­ments). In addition issues in retail fashion and media, transporta- need to address significant variation in custom- to these analysis tools, there will be a strong tion management, or customers’ relationship er expectations and requirements while con- emphasis on the proc­ess of data acquisition. To management. trolling costs and remaining competitive. This support the process of acquiring the right data and learning the analysis tools, you will do a Prerequisite: OMG 402

63 Simon Business School Course Catalog 2014-2015

reliability/maintenance management; design/ OMG 461. Strategy and Business strategy; routing/vehicle scheduling; quality; Systems Consulting Practicum production-control systems; and planning models. Topics for the joint CIS/OMG seminars (Same as CIS 461 and STR 461) include: computer-integrated manufacturing, This course provides MBA students with an network-based industries, performance eval- introduction to strategy and business systems uation of dynamic systems, business expert consulting. It is aimed at students who wish to systems and artificial intelligence. explore career opportunities within the major OMG 531. Analysis of Production consulting firms, but is also relevant for stu- Systems dents considering a career as an independent consultant, or within a corporation’s internal The course introduces the theory of production and inventory systems, and dis­cusses mathemati- consulting group. The course focuses on three cal models used in designing and managing real- areas: world systems. Topics include: aggregate pro- • The Consulting Industry: Students will exam- duction planning, static and dynamic approaches ine several types of consulting (e.g., strategic, to operations scheduling, inventory control operations, systems, human resource and mar- with known and uncertain demand, flexible and keting) and understand where the major con- high-volume manufacturing systems, hierarchical production planning systems and manufacturing sulting firms position themselves. The career resource planning. paths for MBA’s entering the industry, and the skills and values necessary for success as a consultant will be scrutinized. • The Business Systems Consulting Process: The creation of proposals, the winning of con- sulting engagements, and the preparation of contracts will be discussed. The typical stages of a business systems consulting engagement (e.g., problem framing, analysis design, gather- ing data, interpreting results, architectural solu- tion, and presentation of recommendations) and managing different sorts of consulting projects (e.g., operational improvement, sup- ply-chain optimization, quality improvement, strategy formulation, and organization design) will be examined. •Consulting Skills: The role of the consultant and the human dimension will be discussed (e.g., personal attributes of consultants, relationship building, and team building). Diagnostic tools and data gathering techniques (e.g., questionnaires and interviews) will be presented. Frameworks for problem solving, and communicating recommendations will also be introduced. The course examines a wide range of modern global business challenges and opportunities from both the consultant’s and the manager’s perspectives and provides a learning platform to integrate and practice the skills and knowl- edge learned.

PhD Courses OMG 501, 502, 503, 521, 522, 523. PhD Seminars in Operations Management These six PhD seminars are offered in the fall, winter and spring quarters, with major topics such as the following: distribution/ inventory theory; flexible-manufacturing systems; (pro- duction) batching, scheduling and sequencing;

64 Simon Business School Course Catalog 2014-2015

INTERNATIONAL EXCHANGE PROGRAMS

business school university location program objective special emphasis Language ARGENTINA Universidad del CEMA Buenos Aires, International business with pro- Entrepreneurship, strategic plan- Primarily Spanish, Centro de Estudios Argentina grams in firm management and ning, financial analysis, finance, some English Macroeconomicos banking macroeconomics, international de Argentina banking

AUSTRALIA University of Sydney, International scope; strong focus Policy analysis and public-sector English Australian Graduate School Sydney and University of Australia on financial management and man­age­ment; interdisciplinary of Management New South Wales logical decision making approach com­bines economics, quantitative methods, politics and management BELGIUM Leuven, Stresses analytical techniques An analytical and often quantitative English Katholicke Universiteit Belgium and rigor in management. approach to the study of manage- Leuven In-depth understanding of con- rial problems; learning principles cepts and techniques necessary of prob­lem solving which lead to in modern management effective decision making CHINA Shanghai Jiao Tong Shanghai, Opportunity to experience Two full-time MBA programs: English (offering weekly Antai College of Economics University China Shanghai’s business environ- International MBA and China Chinese classes free of and Management ment; downtown commercial Leaders for Global Operations; charge district location; frequent interac- three part-time programs: Finance tion with Shanghai business and MBA, Technology MBA, and industry leaders General MBA

FINLAND Helsinki, International business Intensive modules of study concen- English Aalto University Executive Finland trated over three weeks Education

GERMANY WHU Vallendar, Business administration, policy, AACSB, EQUIS, and FIBAA accred- Graduate programs (MSc, Otto Beisheim School of Germany strategic and situational man- ited MBA) are completely taught Management agement and examined in English

HONG KONG Hong Kong University of Kowloon, Hong To cultivate students able to han- Expertise in China business, elec- English School of Business and Science and Technology Kong dle the challenges and opportuni- tronic commerce, information tech- Management ties presented by the continuing nology management and financial globalization and development in services the Asia-Pacific region JAPAN International University of Niigata, To prepare specialists with a Invites foreign scholars as profes- English Graduate School of Japan Japan broad international outlook and sors and lecturers International Management an understanding of manage- ment practices in international cultures MEXICO Universidad Panamericana Mexico City, To give participants the opportu- To shape leaders with global vision, English and optional Spanish Instituto Panamericano de Mexico nity to live abroad while develop- social responsibility, and Christian Alta Direccion de Empresa ing global managerial­ skills values who have the capacity to (IPADE Business School) transform organizations and society

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

65 Simon Business School Course Catalog 2014-2015

Admissions and Financial Aid The Simon School encourages applications FULL-TIME MS PROGRAMS a 3.3 GPA or higher to waive the GMAT/GRE from men and women with diverse educa- Our full-time MS programs are one year requirements. tional, professional, cultural and geographic of focused study in an area of business. The Office of Admissions offers day and eve- backgrounds. This rich mix of educational Designed for early career professions, students ning appointments for part-time applicants backgrounds and experiences greatly enhanc- can choose from a number of concentra- desiring admissions counseling. Quarterly es classroom interaction and social life at the tions, including: Accountancy, Finance, and evening information sessions are offered to School. Marekting. provide prospective students with additional information about the School. Please refer to Criteria for Selection Accelerated 18-Month MBA our website for upcoming events. The selection process emphasizes evaluating Program All part-time students must complete an orien- the applicant as an individual and determining The Accelerated 18-Month MBA is available tation/registration session prior to be­ginning potential contributions to the School and to the for students who are seeking to complete the classes at the Simon School. We offer one eve- world’s business community. The Admissions MBA on an accelerated format in 18 months, ning session prior to the start of each quarter. Committee looks carefully for predictors of with the same degree requirements as the The orientation provides details on Simon and success in both the academic setting and Two-Year MBA. This cohort joins in January and University of Roch­ester student services, and the business world. In selecting students, the completes the first two terms of the core curric- the transition into the business school, while committee considers the following criteria: ulum in the winter and spring quarters. January also allowing the student to complete course evidence of leadership and initiative, the nature entrance is usually appealing to individuals to registration. Please check our website at www. and scope of prior work experience, teamwork 1) are not interested in completing a summer simon.rochester.edu/ptevents for details on and communication skills, undergraduate internship, 2) wish to accumulate more resourc- upcoming part-time registration sessions. grade-point average, GMAT or GRE score, es for graduate school, 3) must remain at their recommendations and the applicant’s career jobs longer than expected, 4) are sponsored Simon Accelerated Professional focus. The applicant is encouraged to prepare by their employers, or 5) wish to accelerate the MBA (PMBA) a careful and thoughtful application. process of earning the MBA degree. The Simon Accelerated Professional MBA Preparation for Graduate Studies (PMBA) is designed for working professionals Part-Time Flexible MBA and MS who seek to maximize their learning at an Applicants from all undergraduate majors are Program Entrance Dates accelerated pace. The PMBA is a partial lock- considered for admission to the MBA pro- step, class cohort system in which teams of gram. MS degrees in some areas may have The criteria for admission are the same for full-time and part-time MBA and MS students. students take their nine core courses together specific course or major prerequisites. Check in a structured program of two evening classes­ our Website at www.simon.rochester.edu for Applicants to the Part-Time Flexible MBA/MS Program may matriculate in any quarter and per quarter. Thereafter, each individual selects details. Undergraduate backgrounds of current 11 required electives to complete his or her MBA students are distributed across business, application instructions and deadlines can be found on the Simon website. desired concentration(s). Continuing at two engineering/math/sciences, economics, and classes per quarter, cohort members typically other social sciences and the humanities. The Part-Time Flexible MBA students may take up completed their degrees in two and a half curriculum is designed to be managed success- to four courses before matriculating. Course years. Need- and merit-based scholarships are fully by students without prior business course- options are: STR 401 (Managerial Economics), available for the PMBA program. work. However, for applicants planning to take GBA 411 (Framing and Analyzing Business additional courses prior to entering the Simon Problems 1), and any two (2) of the following The non-matriculated option is available for the School, economics, accounting and statistics area-specific core classes: ACC 401 (Corporate Accelerated Professional MBA (PMBA) program. are recommended. An elementary knowledge Financial Accounting), CIS 401 (Information Applicants to the PMBA program may take of calculus is required. Systems for Management), FIN 402 (Capital up to two courses before matriculating to the Budgeting and Corporate Objectives), MKT program through the non-matriculated start. Full-Time MBA Entry Dates 402 (Marketing Management), and OMG 402 Applicants will need a 3.3 GPA or higher to (Operations Management). waive the GMAT/GRE requirements. Entry dates The Simon School admits full-time MBA stu- for the PMBA program are the Fall and Spring dents at several times during the academic Grades received in non-matriculated courses quarters. year to accommodate individual scheduling automatically become part of the application needs and program format fit. for students who plan to matriculate in the part-time program. Part-Time Flexible MBA Application Procedures Two-Year MBA Program students who complete the first four courses Applications must be complete before being with a cumulative grade-point average of 3.2 considered by the Admissions Committee. Our traditional Two-Year MBA students begin in or higher will not be required to take the GMAT A complete application consists of the follow- August each year and complete the first year or GRE. during the fall, winter, and spring quarters. ing: The non-matriculated option is available for the Most Two-Year MBA students complete a sum- • the online application form, including essays; mer internship between their first and second Part-Time MS program with the exception of the • an uploaded, scanned official transcript from year of study and have curricular flexibility to MS in Accountancy. Applicants to the Part-Time MS program may matriculate in any quarter of each college attended (undergraduate and pursue one or more concentrations during their graduate); time at Simon. the school year, and may take up to two cours- es before matriculating to the program through • at least one and no more than two online let- the non-matriculated start. Applicants will need ters­ of recommendation;

66 Simon Business School Course Catalog 2014-2015 • a non-refundable application fee; a global marketplace. Applicants from outside Student Ownership of Laptop • a current résumé; the U.S. are ex­pected to be comfortable with Computers (Required) conversational English since active participation • Uploaded scanned official scores reported It is required that students acquire a laptop from the Graduate Management Admission Test both in and out of the classroom is integ­ral to computer to support their class and course (GMAT) or Graduate Record Exam (GRE); success at the Simon School. work. It is the responsibility of each student to acquire one; the School will not supply equip- • Uploaded scanned Test of English as a Transfer Credit Foreign Language (TOEFL) or IELTS for inter- ment to students. national applicants who are non-native English Students may petition to receive transfer credit Students who purchase computers may include speakers (see details in the Online Application for graduate courses taken at other universities the cost when calculating their eligibility for available through our Website) within five years of the date of Simon School loan programs. matriculation. A maximum of three courses MBA or MS applicants are expected to apply (nine credit hours) may be transferred to the When considering the purchase of a laptop online through our Website at www.simon. Simon School MBA program. A maximum of two computer, Dell is the preferred brand. Simon rochester.edu/applynow. Additional details on courses (six credit hours) may be transferred School IT staff members have in-depth expe- the admissions process and requirements are to an MS program. Students taking approved rience with Dell models, features and trouble- available by reviewing the application. courses for transfer credit to the Simon School shooting. Most laptops manufactured today must earn a grade of B or better in those cours- have the basic requirements (network cable Interviews es. Requests for transfer of course credit are connection, high speed processor, wireless B/G adapter, Microsoft operating system), but The Admissions Committee may request made by submitting a petition for transfer credit purchasers should consider investing in at an interview with prospective candidates. to the associate dean for MBA programs. Only least 2 GB of memory/RAM (more if budget Applicants selected for an interview will be petitions from students already matriculated allows). Investments in additional features notified by the Office of Admissions after a into a program will be considered. Course are at the purchaser’s budgetary discretion. preliminary review of his or her application. The de­scriptions and syllabi should accompany the Students are free to choose equipment that interview is regarded as an im­portant two-way request. meets their individual needs and budgets, but communication channel for both the School Because of the integrated nature of the cohort must bear in mind that the further they deviate and the applicant. U.S.-based candidates are system, no transfer credit is granted for core from the recommendation, the more likely they expected to visit campus for their interviews. courses for full-time students. Part-time stu- are to face difficulties. Mac/Apple computers A video interview with a member of the Simon dents, however, may petition for the transfer of must have Parallels software installed since School Admissions Committee is available for core courses. Grades for transferred courses most class-specific software only runs on the candidates outside of North America. are not calculated into a student’s cumulative Windows platform. GPA. There is a $600 course-transfer fee for Campus Visits each course taken outside the University of Merit-Based Financial Aid Prospective MBA and MS students are strongly Rochester and transferred for credit to the The Simon School assists qualified full-time stu- encouraged to visit the Simon School. First- Simon School. An official transcript is required dents in financing their management education and second-year students volunteer as Simon for credit to be awarded. and has been relatively generous in awarding Ambassadors to conduct individual tours of merit-based scholarships to those who show Schlegel and Gleason Halls and the University Expenses promise of achieving excellence at the School of Roch­ester campus. They also escort visitors The tuition for the 2014–2015 academic year and in their careers. In awarding merit-based to classes, treat them to lunch and provide is $1,694 per credit hour. The average tuition aid, primary emphasis is given to academic information about the Simon experience from for a full-time MBA student is $62,678 per year. excellence, professional development and a student perspective. Visits usually include MS students pay $1,694 per credit hour. There demonstrated qualities of leadership. an interview with a member of the Admissions is no charge for the credits associated with staff. To make the most of your visit, it is rec- labs for matriculated students, and there is one These awards are renewed in the second year, ommended that visits be scheduled between course credit charged for the Management provided first-year academic perform­ance has Monday and Thurs­day, when classes are in ses- Communica­tion sequence. All students are been satisfactory. Consideration for Simon sion. We will make an attempt to accommodate charged tuition by the credit hour. School merit-based financial aid does not those who request to visit on Friday, provided require a separate application. All full-time graduate students pay an annual that sufficient notice is given for this prefer- health fee of approximately $3,000. This covers Financial aid for international students is avail- ence. Scheduling priority is given to those use of the University Health Service and pro- able, but competitive and candidates must candidates who have already submitted an vides medical insurance coverage for the stu- consider the costs of financing academic study appli­cation to the Simon School and who have in the United States. International students are been invited to interview by the Admissions dent. The health fee is reduced if the student has medical insurance coverage from another also encouraged to investigate funding sources Committee. However, the Office of Admissions in their home countries as early as possible. will consider all re­quests to visit, provided a source. Medical insurance for students’ families is also available. current résumé and GMAT/GRE/TOEFL scores Loan Programs are sub­mitted at the time of the request. Part-time students may opt to take advantage of the Employer-Sponsored Payment Plan (ESP The University of Rochester administers the International Students Plan). Through this plan, employer-sponsored full range of federal and private financial aid matriculated students may defer payment of programs. International students may borrow, The interactive MBA and MS programs in tuition until the 10th day of the month immedi- provided they have a co-signer who is a citizen Rochester rely on the breadth of experience ately following the end of the quarter. or permanent resident of the United States. of its students. The international student pop- ulation adds an especially valuable dimension To apply for student loans, students should to discussions on current business practices in submit a Free Application for Fed­eral Student 67 Simon Business School Course Catalog 2014-2015

Aid (FAFSA). To receive a time­ly response, STUDENT SERVICES a completed FAFSA should be on file in the University of Roch­ester Financial Aid Office at Athletic Facilities snacks, beverages, grocery items, fresh pro- least 12 weeks prior to the start of the quarter in Simon students have access to University facil- duce and kosher selections. which a student intends to enroll. The University ities such as the Robert B. Goergen Athletic A coffee cart is provided in Hutchison Hall of Roch­ester requires parental information of Center, which is well equipped for a wide vari- during the weekday lunch period. dependent students only. ety of individual and group athletic activities. In Sophisticated fine dining in the Meliora is open For further information on student loans, please addition to multipurpose areas for volleyball, to the community weekdays for lunch and contact: basketball and exercise, the facilities include Friday night dinner. Private dining rooms and University Financial Aid Office indoor and outdoor tennis courts, a modern catered cuisine are also available. 25-meter pool with a separate diving area, and Box 270261 For more information, call dining serv­ices at University of Rochester a Cybex fitness center. A comprehensive intra- mural athletic program is also open to Simon (585) 275-0171, or visit our Website at www. Rochester, N.Y. 14627-0261 rochester.edu/studentlife/dining.html. (585) 275-3226 School students. (800) 881-8234 (toll free within the U.S.) Barnes and Noble Bookstore Health Services International Financial Aid The Barnes and Noble Bookstore on the The University Health Service (UHS) provides a Opportunities University of Rochester River Campus is located comprehensive, prepaid health care program The organizations listed below offer financial in College Town at the corner of Elmwood Ave. for all full-time graduate students. Students pay assistance to international students. and Mt. Hope Ave. a mandatory health fee that entitles them to use the University Health Service throughout American Association of University Women All textbooks for Simon School courses are the academic year and the following summer, (AAUW) International Fellowships available. In addition to course materials, the as long as they are enrolled on a full-time store also carries an assortment of Simon basis. The health plan offers students a wide AAUW Educational Foundation School merchandise and apparel. variety of high quality, affordable and acces- 1111 Sixteenth Street, NW For information, call (585) 275-4012, or visit the sible health care services. UHS staff supports Washington, D.C. 20036 Website at www.urochester.bncollege.com. preventive medicine and encourages students to take an active role in their health care. All (800) 326-2289 Visit the Simon School’s online “Virtual Store” and find a number of branded Simon products full-time students must have health insurance. (202) 785-7700 to choose from. From the Simon School home An Excellus Blue Cross/Blue Shield insurance www.aauw.org page at www.simon.rochester.edu, select plan is available for individual students through “About Simon” for the current link to the Virtual UHS. Students with equivalent insurance can Edmund S. Muskie/FSA Graduate Fellowship Store site. waive the Excellus Blue Cross/Blue Shield insurance. A family insurance plan is available American Councils ACTR/ACCELS for students who want coverage for themselves 1776 Massachusetts Avenue, NW, Dining Services and their dependent children. Suite 700 Many dining options are available on the For more information, call (585) 275-2662, or Washington, D.C. 20036 University’s River Campus. Meals may be pur- visit www.rochester.edu/uhs/. chased with cash or a prepaid dining plan. Contact: Andrew Segars Espresso, cappuccino, sushi, sandwiches, Housing (202) 833-7522 soup, salads and baked goods are available at www.americancouncils.org Schlegel Hall’s coffee counter. The University owns several housing facilities specially reserved for graduate students. These The Douglass and Danforth Dining Centers include: Institute of International Education each serve a wide variety of foods for break- • furnished or unfurnished one- and two-bed- 809 United Nations Plaza fast, lunch and dinner. Kosher meals are also offered daily. room apartments in Goler House; New York, N.Y. 10017-3580 Food options available at the serving stations in • unfurnished studios with kitchenettes, (212) 883-8200 The Commons, which has been recently reno- and one- and two-bedroom apartments at www.iie.org vated in Wilson Com­mons, include: Starbucks, University Park; Pizzi Pi, Blimpie, The Common Grill, A New • unfurnished two-bedroom garden apartments The Rotary Foundation Leaf, Kettle Classics, Zoca (Mexican) and Panda and two- and three-bedroom townhouses sur- Express (Chinese). rounded by woods at Whipple Park, perfect for Pura Vida, located on the ground floor families; of Robert B. Goergen Hall for Biomedical • unfurnished two-bedroom bungalows across Engineering and Optics, specializes in serving from University Park; only 100 percent organic, Fair Trade, shade- • furnished suites at University Towne House, a grown coffee. In addition to freshly brewed short walk to campus; Pura Vida coffee, one can choose from a vari- ety of baked goods and grab-and-go options. • and a community-living facility that houses 40 single graduate students at the River Road The Corner Store, located in the Frederick Residence. Douglass Building, provides a selection of

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All University apartments have reserved off- 2014-2015 Simon business School course catalog street parking and are served by frequent runs of the University shuttle bus. The information contained in the 2014–2015 with all applicable non-discrimination laws in Course Catalog is current as of December 11, the administration of its policies, admissions, Eligibility for housing is contingent on current 2014. employment, and access to and treatment in enrollment status, and all applicants must be University programs and activities. registered as full-time graduate students of the Provisions of this publication are not to be Simon School. Because applications for hous- regarded as an irrevocable contract be­tween Questions on compliance should be directed ing always exceed available facilities, a lottery the student and the William E. Simon School of to the particular school or department and/ system, usually held in early May, is used to Business. The Simon School reserves the right or to the University’s Intercessor, University establish priority among qualified applicants. to make changes in its course offerings, degree of Rochester, P.O. Box 270039, Rochester, NY Graduate students from outside the Rochester requirements, regulations and procedures, and 14627-0039. Phone: (585) 275-9125. area are advised to make specific housing fees and expenses as educational and financial arrangements in advance of coming. considerations re­quire. Campus Crime Statistics For more information, call (585) 275-3166, or The Simon School encourages the application The Advisory Committee on Campus Safety visit our Website at www.rochester.edu/reslife/ of all qualified persons interested in the study will provide upon request all campus crime graduate/index.html. of management at the master’s and doctoral statistics as reported to the United States levels. Department of Education (USDOE). The sta- ID Cards The University of Rochester values diversity tistics are available on the USDOE’s Website (http://ope.ed.gov/security/) and on the University of Rochester ID cards are required and is committed to equal opportunity for persons regardless of age, color, disability, University’s site at (http://www.security.roches- to obtain after-hours access to Schlegel and ter.edu/). Gleason Halls. ID cards are also required to ethnicity, gender identity or expression, genetic use the library and sports complex. For infor- information, marital status, military/veteran You can also obtain a hard copy of the report, mation, contact the River Campus Identification status, national origin, race, religion/creed, titled Think Safe, by contacting University Card Office, located in the Susan B. Anthony sex, sexual orientation, or any other status pro- Security Services at (585) 275-3340. Residence Hall, at (585) 275-3975, or visit our tected by law. Further, the University complies Website at www.rochester.edu/living/services/ onecard/ID1.htm. CONTACT INFORMATION Admissions Off-Campus Living Immunizations (MBA and MS Programs) Information Center All entering matriculated full-time and part-time Phone: (585) 275-3533 Phone: (585) 275-1081 students must submit a University Health History Fax: (585) 271-3907 Fax: (585) 276-1886 Form that includes immunization information. E-mail: [email protected] E-mail: [email protected] Under New York State law, students who do not show proof of immunity to measles, mumps and Advancement Part-Time Programs rubella before classes begin will not be allowed Phone: (585) 275-7563 Phone: (585) 275-3803 to attend the Simon School. Fax: (585) 756-8053 Fax: (585) 244-3612 E-mail: [email protected] E-mail: [email protected] Interfaith Chapel Career Management Center PhD Program As the center for spiritual life on the River Phone: (585) 275-4881 Phone: (585) 275-2959 Campus, the Interfaith Chapel offers graduate Fax: (585) 473-9604 Fax: (585) 276-1965 students opportunities for worship, meditation, E-mail: [email protected] E-mail: [email protected] social service, and cultural and social events. Roman Catholic, Protestant, Muslim and Jewish Executive MBA Program Registrar’s Office clergy are available for personal counseling. In Phone: (585) 275-3439 Phone: (585) 275-3533 addition, there are resource staff members avail- Fax: (585) 244-3612 Fax: (585) 271-3907 able to assist students from the Buddhist, Jain, E-mail: [email protected] E-mail: [email protected] Hindu, Sikh, Universalist Unitarian and Latter- Day Saints traditions. Financial Aid Office Student Services Phone: (585) 275-3226, (800) 881-8234 Phone: (585) 275-8163 Fax: (585) 756-7664 Fax: (585) 276-2368 E-mail: [email protected] E-mail: [email protected]

Information Technologies University Apartments Office Phone: (585) 275-4409 Phone: (585) 275-5824 Fax: (585) 271-8752 Fax: (585) 276-1886 E-mail: [email protected] E-mail: [email protected] Marketing and Communications Phone: (585) 275-3736 Fax: (585) 275-9331 E-mail: [email protected]

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