This course provides students with strategies and tools to elevate the efficacy of social innovations by integrating insights from behavioral science research and practice. Through readings and hands-on innovation projects, participants will gain skills to deeply understand user psychology, frame opportunities focused on specific behavior changes, develop interventions using evidence-based techniques, rapidly prototype concepts, and rigorously evaluate impact on behaviors. 

The sessions cover opportunity framing, customer discovery, creative ideation, prototyping, and experimentation. Students will learn how applying behavioral economics, psychology, and cognitive science can enhance the innovation process and drive positive social change.

Intended for students interested in creating new business or social enterprises, this hands-on course focuses on the creation, evaluation, development, and launch-readiness of new business or social ventures. Participants are guided through the new venture creation process as applied to student team-selected venture ideas. Through interactive lectures, short case studies, and structured peer activities, students explore the elements of the new venture planning process in an innovative modular format.

For each student venture, key issues are addressed in a fashion highly consistent with other formal venture-planning processes including: business model development, customer discovery, product-market validation, in-depth industry and market analysis, product or service innovation, brand development and go-to-market strategies, team selection and management, profit models, financing, and legal considerations.

Students work through a series of structured activities and assignments that correspond with each phase of new venture planning. Throughout the class they refine their venture’s hypothesized business model on the basis of instructor and peer feedback. At each stage of venture plan development, they learn critical terms, apply tools that support research and decision making, and develop a deep understanding of how each major planning activity fits into formal venture creation. Additionally, they hone critical professional skills including creative problem-solving, communication and negotiation, project management, financial analysis, and collaborative leadership. By the end of the class, participants have generated robust business models, with supportive venture plan documents, investor pitches, websites, and crowd-funding videos. 

This intensive course takes an applied, practical approach to the development, testing, and validation of customer or community-driven product solutions. By learning and applying contemporary design-thinking concepts and tools, students generate innovative solutions to important customer or community problems. During the program, students identify and define a major problem to be solved, work with real customers to better understand the problem from their perspective, generate multiple solutions, then choose a solution to test with real customers. Students acquire practical knowledge and tools focusing on the development, testing, and validation of new products that solve real customer problems and needs, from idea to early product development.

Students can expect to learn how to:

• identify and articulate customer problems in an accurate way, reflecting how individuals truly experience the problem and its challenges
• create effective customer surveys to help validate your assumptions on customer problems (pain points), solutions, and benefits (expected outcomes)
• assess current solutions provided in the marketplace in order to build on best practices as well as identify gap areas
• develop a minimal viable product in order to gain additional feedback on specific solution features
• measure and validate customer needs fulfillment or social impact assumptions
• develop a solution (business or social enterprise) model to test your assumptions about customer interests, acceptance, and use

In-Person participants are expected to bring laptops for this class.

Game theory is the science of strategy. Within this ever-evolving field, practitioners are responsible for working through economic concepts that depend on rationality, as well as choice and uncertainty. Specifically, those working in this field help with optimal decision making between an independent agent and competing actors. The result of this work can take many forms, including when (and if) to launch a product and how to price it, or when to be cooperative in a negotiation (or not), or even whether to confess to a crime (or not). Throughout the course, students will study the works of key pioneers in Game Theory, as well as synthesize and triangulate readings to topics in economics, business, political science, and project management. Students will be expected to apply learnings to solve complex probability sets and analyze decision-maker payoffs. By the end of the course, students will have a new appreciation for how Game Theory directly impacts - and influences - major decisions. Additionally, they will be able to work through choices and outcomes better in their own lives. 

What is the impact of the resurgence of populism, nativism, and geopolitical competition on foreign relations and economic growth? Is China’s push to turn the renminbi into a global currency a threat or an opportunity? What are the implications of an unsustainable levels of public debt (U.S., Europe, Latin America, and Asia) on the future of international monetary and financial architecture? Given questions such as these, this course examines the interplay between globalizing pressures and national interests.

Working from a multilateral perspective, students use case studies to examine the nature of relations between nation-states in a period of increased economic and political integration. Topics include theories of international political economy in relation to foreign aid and sovereign debt, international trade and capital flows, security and non-state actors, rights-based approaches to development and humanitarian emergencies, energy sustainability, and the role of international organizations and financial institutions.

For counterpoint, students also examine the political, ideological, and social determinants of domestic political economies, including that of the United States. The political mechanisms of economic policy-making and the relationship between domestic policy and foreign policy are explored using theoretical, historical, and topical cases; examples include the political economy of income distribution and social welfare, national defense and hegemony, the national debt, and globalization.

Students examine these and other topics through lecture, research, academic and policy dialogue, group projects and presentations, peer critiques, and guest speakers. For students enrolled in the in person program, the course typically includes a visit to the United Nations Headquarters.

This course focuses on the firm’s financial and economic behavior. The firm needs cash to undertake worthy investments, and the firm needs to identify investments worth undertaking. What models does the firm use to identify such investments? What sources of cash can the firm use? How do the financial markets in which this money is raised function? How does the market value the firm, its securities, and its investments? What financial instruments are available to the firm? What are the microeconomic models that best describe a firm’s behavior in such markets?

In answering these questions, the participants discuss stocks, bonds, stock markets, as well as valuation models of investments, firms, and securities. They also work with concepts like optimal investment strategies, what is revealed and what is hidden in published accounting statements, and what are some of the sources of risk. Students also acquire familiarity with the mechanics and history of the financial markets.

The course includes case studies and some sustained independent work by the participants.

Laptops, while not required, are highly recommended for In-Person participants. 

This introductory-level course is intended for students who have an interest in learning more about how corporations make business decisions and fund those decisions. The course provides a brief introduction to the fundamentals of finance, emphasizing their application to a wide variety of real-world situations in corporate decision-making and financial intermediation. Key concepts and applications include the time value of money, risk-return tradeoff, cost of capital, interest rates, discounted cash flow (DCF) analysis, net present value, internal rate of return, hurdle rate, and payback period. Students will leave with an understanding of both sound theoretical principles of finance and practical tools of financial decision-making.

Participants learn the principles of finance and investment management, to include interest rates and compound interest, the time value of money, risk and reward, how stocks and bonds are valued, how the stock market functions, how the international financial market functions, and how to approach stock selection and portfolio management.

We explore the structure of the financial system, to include the role of individual participants, investment banks, asset managers, the Central Bank, and other players in the global economy. The course connects foundations of economics to financial markets. What is the role of risk in investment? How does the environment of the market and the broader world drive return on investments? Why have some investments done well in memorable history? Why have others not done well? How are the winners and losers of past investments explained by financial theory? What is the role of traditional investments, such as mutual funds, and of alternative investments, such as venture capital, private equity and hedge funds?

Students generate their own investment strategies and portfolios. As this is a quantitative course, should be comfortable with math and prepared for a challenging experience.

While membership in American labor unions has been on the decline for decades, recent years have seen a resurgence of worker organizing across the United States. Almost every week brings new headlines about strikes or campaigns to form new unions in a variety of different industries, from auto manufacturing to healthcare to TV and movie production. This course will examine the subject of labor relations through the lens of economics by introducing some of the key tools that economists use to study interactions between workers and firms in the labor market. A major focus will be the role that collective bargaining can play in shaping the terms and conditions of employment, such as wages, benefits, and workplace health and safety protections.
 
Students will learn to define fundamental concepts in labor economics and labor-management relations, interpret theoretical models, and identify patterns in real-world data on labor market institutions and outcomes with the help of empirical methods. Class activities and exercises will offer hands-on perspectives on the subject matter, and will include an opportunity for students to practice negotiating their own collective bargaining agreement. Those who complete the course will come away with a greater understanding of how economists use theory and data to gain insight into the workings of the labor market and how unions function in the modern economy.

Goldman Sachs, Morgan Stanley, and other leading investment firms have predicted that the space economy will be worth trillions of dollars within the next few decades. In this course we explore a number of key issues having to do with the space industry and the emerging space economy with the intention of preparing participants to be leaders in those fields.

Potential topics to be covered include:

• How private businesses are changing the new space race
• Why space commercialization will lead to a Fifth Industrial Revolution
• What old and new financial models are enabling the growth of space technology
• The role of NASA, the Space Force, NOAA, and other government agencies
• Should we be investing in space when there are so many challenges facing humanity on Earth?
• How do businesses profit from working within the space economy?
• What does the work of SpaceX, Blue Origin, and Virgin tell us about opportunities in Low Earth Orbit (LEO), the moon, and Mars?
• What steps a business must go through to be part of the new space race
• How new private and national programs will add to the complexity and vibrancy of the economy
• What is the role of space in human rights?
• How does the improvement of communities in space lead to social and technology improvements?
• What environmental problems can be solved using space technology?
• What is the role of traditional financial institutions such as banks and mutual funds, and how does that compare to the role of family private offices, VCs, and hedge funds in disruptive industries like the space economy?

The course draws on fundamental concepts in business, economics, and finance and applies new concepts from ESG (environmental, social, and governance) investing, risk management, and social impact measurements. Participants gain a foundational understanding of business development, the importance of intellectual property, and the value of community building as part of any business strategy - how solving for space is really about solving for problems on Earth. Guest speakers represent the private sector as well as groups such as NASA, the Space Force, and international space organizations.

Students leave with the tools to place an economic lens on the business, technology, and financing of spaceports, the aerospace industry, space adjacent technology, and the space economy as a whole. From launch, to satellites, to private stations, to manufacturing in LEO, to the permanent human settlement of the moon, via the Artemis program, this course gives students insights into the future they will help build and lead.

As the final project for the course, participants generate their own investment strategies and portfolios.