Course Detail

Macroeconomics and the Business Environment (33050)

Course Description by Faculty

  • Hurst, Erik
  • Content

    The goal of this course is to not only prepare you for your next job after completing your MBA but also prepare you for your last job when you are in upper levels of management.  In particular, this course will give you the tools to answer questions like: How does rising inflation affect the demand for businesses’ products or their ability to hire and retain workers? How much control does the government have over inflation and can politicians really create jobs? What does it mean for business and workers when the Fed starts raising interest rates?

    To answer these questions, we develop a unified modeling framework, explore data that supports the model and discuss current research that allows MBA students to answer these sorts of questions and to develop an understanding of how the broad economic environment affects business outcomes. We will then apply this framework to understand historical episodes like the Great Recession as well as to evaluate the importance to businesses of current macroeconomic phenomena such as rising inflation, tightening monetary policy, large pandemic recovery packages, and global supply chain issues arising from the pandemic and the war in Eastern Europe. The applied focus of this course and its focus on providing a framework for business leaders makes it valuable even for those students who have taken previous macroeconomics courses as undergraduates.
  • Prerequisites
    Business 33001 or equivalent (recommended). No undergraduates, including Dougan Scholars.
  • Materials
    Abel and Bernanke, Macroeconomics (recommended). There will also be a reading list with articles from the business press. A series of detailed lecture notes on a variety of applied topics will be available on the instructor’s website. In addition, The Economist or an equivalent source of current economic news is highly recommended.
  • Grades
    Based on quizzes and final exam.
  • Syllabus
  • Autumn 2022Section: 33050-01M 8:30AM-11:30AMHarper CenterC03In-Person Only
  • Autumn 2022Section: 33050-02M 1:30PM-4:30PMHarper CenterC03In-Person Only
Description and/or course criteria last updated: July 27 2022