Explore New Courses, Academic Year 2023-2024

This course will cover some of the fundamental product decisions together with the basic analytic and data science tools to support them that are currently being used to run the most exciting online marketplaces in the world. More specifically, among others, we will address the following questions: How does Uber or Lyft match drivers to passengers? How does Airbnb select the set of listings to show to a guest in a search? How can we build an algorithmic, scalable reputation and trust system in an e-commerce platform such as Amazon? How should advertisers optimize their decisions in today’s online advertising marketplaces run by Google and others? Verticals of interest include the following: • Matching platforms like those for ride-hailing, lodging, dating, labor, and food delivery. • Internet advertising platforms including search engine advertising, display advertising, and sponsored products. • Retail platforms including those for physical goods like Amazon, Etsy, and possibly also those for virtual goods like the App Store/Play Store and gaming platforms.

Course catalogue listing B8159.

We live in an increasingly complex business world. In the not-too-distant past in the United States and around the world, most employees worked at places where there was a high level of homogeneity—or social similarity—between employees. Today, social, political, and demographic and institutional factors have led to a sharp increase in diversity within society and within workplaces. This has led to new organizational design challenges for leaders. How do leaders design organizations to get the most out of the diversity that exists in society? How are inclusive organizations created and maintained? How is belonging achieved and why does it matter? How do leaders contend with broader questions concerning justice and equity in society and their employees’ expectations (often) that they take a stand? Given these complex questions, this class is built around the idea that organizational leaders, if they are intentional in their design of organizations, can take deliberate, successful steps to leverage the diversity that exists in the world. During this course you’ll learn tools and techniques to build more diverse, equitable, and inclusive organizations. A basic premise is that doing so is good for business and for employees. Research studies find that organizations focused on DE&I do not just benefit “HUGS”, or members from historically underestimated groups. Designing organizations to be inclusive and equitable improves the success and well-being of all employee groups, regardless of employees’ background. As we unpack how to achieve greater levels of DE&I, it is important to know this course is heavily influenced by design thinking, most often used in product and service design. Yet as a broad concept, design thinking has wide applicability to organizational design. This is the approach we have taken in the “Equity by Design” Lab (which carries the same name as this course), as academic researchers interfacing with practitioners to help make their organizations better on the DE&I front. In this course we will use this same logic: to make organizations more diverse, equitable, and inclusive we will identify “pain points” in and around organizations, including from social problems that exist in society and from which workplaces are not immune—e.g., structural racism, gendered hierarchical beliefs, able-bodiedism, and others. We then will consider carefully the design of workplaces—i.e., their systems, processes, culture, and formal and informal structures—to address these pain points.

Course catalogue listing B8505.

The primary objective of this course is to provide you with a comprehensive understanding of the significant economic, strategic, and regulatory aspects involved in financing innovations within the healthcare industry. In the first half of the course, you will be introduced to the risk-return proles and market failures specific to the biopharma industry. Additionally, we will explore the integral roles played by various financing channels, including government funding, non-prot organizations, venture capital, and mergers and acquisitions, in driving the innovation process. The second half of the course will focus on examining the distinctive financial characteristics of U.S. hospitals and analyzing how external financing impacts healthcare quality and technology adoption.

Course catalogue listing B8356.

The course "Private Equity Finance" focuses on the essential aspects of corporate finance relevant to the private equity industry. It covers topics that are critical for interviews and practice in PE investing. The course follows the "private equity cycle" of selection, valuation, and harvesting. Initially, students learn to evaluate a target company from the perspective of a private equity firm, keeping in mind the needs of investors and management. The course then delves into funding negotiations, deal structuring, and private equity investment management. Classic valuation techniques such as DCF, comparables, and APV are reviewed, along with models specific to private equity transactions (for example, the LBO model). Additionally, students will gain insight into the legal and regulatory frameworks that govern private equity finance and the ethical considerations that arise in this field. Finally, the course concludes with a study of investment exit strategies. By the end of the course, the student will understand the language of private equity, the solutions available for valuation and deal structure, and the economic frictions that must always be addressed. This course provides a comprehensive overview of private equity finance and prepares students for careers in this exciting and dynamic industry. This course is an applications-oriented course requiring the student to solve actual problems. After the 2023-24 academic year, this course is a pre-requisite for all 2nd year PE electives offers in the curriculum. The 2023-24 course is not available to students who have enrolled in Foundations of PE I as half of the course material has significant overlap.

Course catalogue listing B8343.

The course "Private Equity: Capital Formation, Innovation, and Impact" focuses on the dynamics in private equity between General Partners (GPs) and Limited Partners (LPs), especially through the private equity capital formation process, the market innovations driven by the needs of both GPs and LPs and the increasing emphasis on sustainability and impact. We start with an overview of the investor’s – limited partner’s – problem: allocating capital to private equity managers, funds and co-direct investments. The course covers the major types of limited partners, including both the traditional LPs, such as pensions, endowment, and insurers, and the fastest growing global LP segments, such as sovereign wealth funds in Asia and the Middle East, family offices, and private wealth in Europe and Asia. We will investigate how illiquidity and the absence of periodic mark-to-markets stress the traditional portfolio construction problem. The private equity industry has experienced several financial innovations that have altered the risk-return profile and impacted the set of investors able to access the asset class. We will discuss secondary transactions, evergreen structures, and co-investments. Finally, given their size and political influence, institutional investors are at the forefront of sustainability and ESG initiatives. The course will cover how private equity uniquely addresses these challenges. The course includes lectures, case discussions, and guest speakers. The topics covered in the class include: - Capital formation: the global landscape of institutional LP capital - Sovereign wealth funds, private wealth, and family offices - Secondary transactions for limited partner positions and co-investments - The role of state-backed capital - Portfolio construction and management with private equity as a major component - ESG and other sustainability objectives - Evergreen funds and fund extension issues Students interested in careers in any financial industry where they expect to interact with large institutional investors or private equity investors will benefit from this course.

Course catalogue listing B8335.

What is the ultimate responsibility of companies? Fifty years ago, the consensus was that the answer to this question should be maximizing profit and shareholders’ value. Today, however, the answer is more complex. Companies are increasingly being held accountable for environmental and social responsibilities, in addition to their economic performance. As a result, the traditional principles of marketing developed during the 20th century are also being challenged and revised to embrace sustainability as a core component of business. Sustainable marketing is the process of creating and delivering value to customers in a manner that respects or enhances both the environment and society. Through lectures, case studies, interactive discussions, and guest speakers, students in this course will learn about the principles of sustainable marketing across various industries (e.g., apparel, food, automotive, technology), as well as gain a deep understanding of the sustainable consumer. By the end of the course, students will be equipped with the knowledge and skills necessary to develop effective sustainable marketing plans that can drive positive change in the business world. In line with these learning objectives, the course is divided into three main modules: (1) Defining sustainable marketing, (2) Understanding the sustainable consumer, and (3) Developing a sustainable marketing plan.

Course catalogue listing B7654.

This course builds on the core Global Economic Environment curriculum to equip students with toolkits for applying open-economy macro frameworks to the analysis of the fundamental forces shaping economic turning points and the development of public-market trading strategies around them. Key concepts in global macro investing are delivered through a mix of interactive lectures, case-study discussions, and directed conversations with practitioners. The course is structured in three sections: (1) a review and extension of core macroeconomic principles, an annotated discussion of key macroeconomic indicators, a structured look at the principal features of major risk assets (i.e., equities, currencies, fixed income, and commodities), and the development of templates for global macro trading strategies and risk management; (2) case studies around recent, disruptive major global macro inflection points; and (3) the application of the course’s key learning objectives to the development of broad global macro trading strategies around prevailing macroeconomic conditions, special cases, and instances of asset mispricing. This course will provide introductory knowledge and skills for students wishing to pursue activities in markets-focused macroeconomic research and strategy, global tactical asset allocation, the application of macroeconomic overlays on a wide range of investment platforms, strategic planning, and policy development.

Course catalogue listing B8213.

What should you expect to learn from this class? 1. Develop and refine a high-quality investment process 2. Build background and primary research skills 3. Attain greater awareness and insight into metacognition and psychology in investing 4. Understand the different ways of managing risk in investing 5. Develop and cultivate relationships with industry experts 6. Build relationships with fantastic alumni There are many ways to make money in the markets and our goal is to provide you with an investment process/approach that can be applied not just to public investing, which is the focus of this class, but also to other asset classes. Speakers: Each class will be supplemented with a guest speaker who is an expert in their field and in the key topic of each class to further bridge theory and practice. Speakers will include hedge fund managers, experienced investment analysts, CEOs, industry experts, and investigative researchers. Mentors: Each student will be provided a mentor from the industry. We encourage you to connect with them regularly, utilize their feedback in your work, and build a longterm relationship.

Course catalogue listing B8321.

Course catalogue listing B8344.

This course is for all business school students interested in leveraging Generative AI (GenAI) in their professional lives. It aims to provide an in-depth understanding of GenAI, its wide range of applications, and the value it can generate for businesses. This course discusses both the potential benefits and challenges stemming from business applications of GenAI. The course will span over six 3-hour sessions and will emphasize both theoretical and practical aspects of GenAI. The theory component will consist of lectures and discussions on key topics, based on the fast-evolving body of knowledge on Generative AI coming out of research in academia and industry. The practice component will consist of guest speakers who will share their experiences with Generative AI, student presentations, and hands-on guided work. By the end of the course, students will have a comprehensive understanding of GenAI's current applications and future possibilities, as well as practical experience in running experiments using AI models. This balance of theoretical and hands-on learning will equip students with the knowledge and skills necessary to harness the power of GenAI in their future careers.

Course catalogue listing B8609.

Climate science informs us that global emissions of greenhouse gas emissions must be rapidly and dramatically reduced if humanity is to avoid catastrophic climate change. After three centuries of rising emissions, the entire global economy must now decarbonize in the coming three decades. Fortunately, most of the technologies and investment capital necessary to reduce and eventually eliminate emissions exist or are in development, but the urgency to implement those solutions is critical. This course provides an overview of climate change, its effects on business, and how businesses can (and should) respond. The course covers emissions sources and their impact on climate change, followed by an exploration of the policy landscape, including current legislation, carbon markets, and climate justice. The course then evaluates current and evolving mitigation technologies, reviews the tools of climate finance, and considers strategies for reducing emissions to net zero. Finally, the course introduces the role of businesses in addressing climate change, including net-zero goals, actions they can take to mitigate their impact, and the perspectives of shareholders. Throughout the course, the business case for climate action is emphasized, highlighting the economic benefits of taking action to address climate change.

Course catalogue listing B8705.