MManagerial EEconomics andDDecision SSciences 4 majors:

Decision SciencesManagerial EconomicsOperations ManagementAnalytical Consulting

Professional Program:Social Enterprise at Kellogg

(SEEK)

An electronic copy of this presentation is at http://www.kellogg.northwestern.edu/meds/deptinfo/majors.htm

Decision Sciences (DECS) Understanding the dynamic nature of decision making

Decision science techniques have become increasingly important in general consulting, oil and natural gas, automobile, transportation and pharmaceutical companies

A flexible major and ideal complement to: Finance Strategy Operations Marketing

Decision SciencesThe “Mathematical Toolbox” used to understand the dynamic nature of decision making

Students are required to take any three of the following courses:

DECS 450 Decision Analysis

DECS 452 Strategic Decision Making

DECS 499 Independent Study

MECN 446 Pricing Strategy

MECN 451 Business and Economic Forecasting

OPNS 450 Spreadsheet Modeling for Managerial Decisions

ACCT 454 Learning Through Experience Action Program

MGMT 469 Empirical Methods in Strategy

For turbo options, visit www.kellogg.northwestern.edu/meds/deptinfo/waiverinfo.htm

Managerial Economics (MECN) Examining decision-making in management

What is managerial economics? Many firms create enormous amounts of economic

value, yet they still fail in achieving sustained profitability

Managerial economics builds a framework that analyzes the creation and distribution of value in the market place

Managerial economics analyzes the interaction of fundamentals (demand, cost, nature of competition, and government policies) that determine prices, market size and share

Grounded in principles of basic microeconomic and game theory

Managerial Economics (MECN) Examining decision-making in management

Core class: MECN 430Usually taken in the winter or spring

quarterPresents the basic

microeconomic/game theoretic framework for the analysis of perfect competition, oligopoly and monopoly

A prerequisite for many management, strategy and finance courses that build on the basic microeconomic paradigm

Managerial Economics (MECN) Examining decision-making in management

The managerial economics major: Key analytical tools serving both

industry-based and function-based careers. Especially suited for careers in management consulting

Includes demand and cost analysis, pricing strategies, market structures, incentives and information, and game theory

Managerial EconomicsExamining decision-making in management

MECN 441 Competitive Strategies & Industrial Structure

MECN 443 Analytics of Corporate Planning

MECN 446 Pricing Strategy

MECN 450 Macroeconomic Analysis 

MECN 451 Business and Economic Forecasting

MECN 452 International Economics

MECN 463 Entrepreneurial Leadership  

MECN 499 Independent Study  

MECN 912 Invention & Innovation

MGMT 444 Health Care Economics & Strategy

ACCT 454 Learning Through Experience Action Program

TECH 913 Intellectual Capital Management

Students are required to take any three of the following courses:

For waiver information, visit www.kellogg.northwestern.edu/meds/deptinfo/waiverinfo.htm

Operations Management (OPNS) Operational and Financial Measures of Performance

The operations major is designed with two specific career paths in mind: consulting and general management.

High demand in firms focusing on quality - health services, government, transportation, retail, airlines, insurance, banking and others.

Possible major combinations: Finance (operating functions of banks and other

financial institutions) Marketing (management of complex inventory-

distribution-warehousing systems linking retail, wholesale, and manufacturing)

Operations Management Operational and Financial Measures of Performance

  

For more information, visit the operations website: www.kellogg.northwestern.edu/research/operations

OPNS 450 Spreadsheet Modeling for Managerial Decisions

OPNS 453 Inventory Management  

OPNS 454 Operations Strategy

OPNS 455 Logistics and Supply Chain Management  

OPNS 499 Independent Study

OPNS 912 Service Operations

OPNS 916 Process Management

OPNS 917 Project Management 

TECH 919 Innovation Process Management  

Students are required to take any three of the following courses:

Analytical ConsultingA quantitative, analytical approach to strategic managerial consulting

In the past few years, about 40% of Kellogg graduates accepted a consulting position upon graduation.

Kellogg faculty at the forefront of developing analytical models and methods.

Courses focus on: quantitative skills (using statistics, optimization, or simulation

methods) analytical framework (using formal modeling based on game

theory or microeconomics) Possible major combinations:

Accounting Finance Marketing

Analytical ConsultingA quantitative and analytical approach to strategic managerial consulting

Decision Frameworks:    

DECS 450 Decision Analysis   MECN 446 Pricing Strategies   DECS 452 Strategic Decision Making  

Analytical Strategy  

MECN 441 Competitive Strategy and Industrial Structure   OPNS 454 Operations Strategy   MGMT 452 Strategy & Organization

Quantitative Models  

MGMT 469 Empirical Methods In Strategy   

MKTG 450 Research Methods In Marketing   

OPNS 450 Spreadsheet Modeling for Managerial Decisions  

OPNS 455 Logistics and Supply Chain Management

Students must take four courses, including at least one from each category:

Multi-major coursesThese courses apply to more than one major in the MEDS Department:

Decision Science

Managerial Economics

Operations Management

Analytical Consulting

DECS 450, 452 x x

MECN 441 x x

MECN 446 x x x

MECN 451 x x

OPNS 450 x x x

OPNS 454, 455 x x