Phillip LeBel

Econ 570

Business and the Socio-Political Environment

As posted on the syllabus, this course contains weblinks to datasets, application modules, classroom case studies, and electronic reserve readings. These web-based materials are listed below.

Business and the Socio-Political Environment


 Application Modules


Economic Functions of the Public Sector,
Efficient Product Markets in a Riskless World
Banking Systems Dynamics
The Framework of Strategic Planning
Elements of Strategic Planning
Forecast Module
Simple Regression
A Basic Econometric Market Model
Basic Forecasting
Strategic Convergence
Chaos in Asset Pricing
Commodity Price Stabilization
The Measurement of Risk.
Trade and Tariff Economics
The Millet Mill Project
The Am Djena Livestock Project
Competition versus Monopoly
Cournot Duopoly
Basic Economic Efficiency
The Cobb-Douglas Production Function
Personnel Review Framework
Excise Taxation
Fundamentals of Finance
The Capital Asset Pricing Model (CAPM)
Optimal Allocation of Exhaustible Resources
Optimal Allocation of Renewable Natural Resources
Optimal Investment Storage
Alternative Pension Systems
The Basic Option Pricing Model
The Standard Normal Distribution
Economic Value Added Models
Earnings at Risk Models
Expected Default Frequency Models
The Merton Risk Premium Model
Value at Risk Models

Elements of Project Planning and Risk Management

This section contains sequential elements used in the preparation of student project portfolios

  A. Basic Tools
    Key Elements of Project Planning  
    Project Plan Outline  
    The Strategic Plan Framework  
    Competitive Strategy  
    Cost Analysis  
    Cost Curve Relationships  
    Fundamentals of Finance  
    The Measurement of Risk  
    Macroeconomic Equilibrium  
    Forecast Module  
    Internal Bank Transfers  
    Business Plan Checklist  
 B. Project Identification
    Product Concept Profiler  
    Project Product Overview  
    Project Plan Outline  
    Technical Reporting  
    Reporting Progress  
    Globalization Dimensions  
    Basic Market Dynamics  
 C. Project Feasibility
    Project Feasibility Template  
    Project Feasibility Checklist  
    Project Criteria Profiler  
    Pro Forma Balance Sheet  
    Transportation Problem Solver  
    Project Personnel Profiler  
    Personnel Review Template  
    Personnel Scheduling Template  
    Marketing Planning  
    Transportation Problem  
    Working Capital Management  
  D. Project Evaluation
    Bank Performance Criteria  
    Capital Budgeting Annual Requirements  
    Capital Budgeting Model 1  
    Capital Budgeting Model 2  
    Three-Year Income Statement  
    Three-Year Pro-Forma Balance Sheet  
    Administrative Budget  
    Cash Flow Template  
    Revenue Budget  
    Income Statement Template  
    Inventory Budget  
    ProForma Balance Sheet  
    Working Capital Management  
  E. Risk Management
    Basic Option Pricing Model  
    The Capital Asset Pricing Model  
    Economic Value Added Model  
    Efficient Portfolios  
    Expected Default Frequency Models  
    Merton Risk Premium Model  
    Value at Risk Models  
    Stock Market Valuation Model  

 Course Reserve Readings

Allman,William F.(1985).,”Determining Risks with Statistics – and with Humanity,” Science 85/Baltimore Sun, October 13, 1985, p. 50.

Arrow, Kenneth J., “The Organization of Economic Activity:  Issues Pertinent to the Choice of Market versus Non-Market Activity,” in Mansfield Readings, (437-455).

Arthur, W. Brian (1989), “Competing Technologies, Increasing Returns, and Lock-In by Historical Events,” The Economic Journal 99:394 (March), 116-131.

Bator, Francis M., “Anatomy of Market Failure,” Journal of Political Economy, (1958).

Baumol, William, (1965). “The Empirical Determination of Demand Relationships,” Economic Theory and Operations Analysis (Prentice-Hall, 1965).

Bernoulli, Daniel (1954, 1738), “Exposition of a New Theory on the Measurement of Risk,” Econometrica 22:2 (January), 23-36.

Coase, Ronald H (1937)., “The Nature of the Firm,” Economica, New Series 4:16 (November), 386-405.

Coase, Ronald H.(1960),  “The Problem of Social Cost”, Journal of Law and Economics  (October).

Conlisk, John (1996).  “Why Bounded Rationality?”  Journal of Economic Literature XXIV:2 (June 1996), pp. 669-700.

Coughlin, Cletus K., Alec Chrystal, and Geoffrey E. Wood (1988), “Protectionist Trade Policies:  A Survey of Theory, Evidence and Rationale,” Federal Reserve Bank of St. Louis (January/February 1988): 12-30.

Dixit, Avinash, and Robert Pindyck (1994), Investment Under Uncertainty (Princeton, NJ:  Princeton University Press).

Downs, Anthony (1957), “An Economic Theory of Political Action in a Democracy,” Journal of Political Economy I, 65:2 (April);, 135-150.

Friedman, Milton and Leonard J.Savage (1948), “The Utility Analysis of Choices Involving Risk,” Journal of Political Economy I 56:4 (August), 279-304).

Harris, Ethan S., “Forecasting Automobile Output,” Federal Reserve Bank of New York Review (1985).

Holmstrom, Bengt, and John Roberts.  “The Boundaries of the Firm Revisited,” Journal of Economic Perspectives 12:4 (Fall 1998): 73-94.

Houthakker, Hendrik S. "An International Comparison of Household Expenditure Patterns, Commemorating the Centenary of Engel's Law'. Econometrica 25:4 (October 1957), pp. 252-272.

Leibenstein, Harvey,  “Bandwagon, Snob, and Veblen Effects in the Theory of Consumers’ DemandQuarterly Journal of Economics  (1950).

Leibenstein, Harvey,  “Allocative Efficiency vs. ‘X-Efficiency’” (1966), in Mansfield, Microeconomics Readings, (210-229).

LeBel, Phillip LeBel (1999). Higher Education Reform Criteria”, Proceedings of the Fifth International Conference on Global Business and Economic Development, Zhouhai, China.

LeBel,Phillip (1998). "Asset Bubbles and Moral Hazard: Evidence from Japan.” Working Paper, School of Business, Montclair State University.

LeBel, Phillip (2001), The Role of Risk in the Choice of Optimal State-Market Relations. , Proceedings of the Sixth International Conference on Global Business and Economic Development, Bratislava, Slovakia, (November).

Lorie, James H.,and Leonard J. Savage.  “Three Problems in Rationing Capital”, in Mansfield, Microeconomics Readings, (499-512).

Moore, Frederick T.,  “Economies of Scale:  Some Statistical Evidence” (1959), in Mansfield, Microeconomics Readings, (117-128).

Pareto, Vilfredo (1897), “The New Theories of Economics,” Journal of Political Economy 5:4 (September), 485-502.

Parkinson, C. Northcote, “Parkinson’s Law”, in Mansfield, Managerial Economics Readings, (63-70).

Porter, Robert H.,  “The Role of Information in U.S. Offshore Oil and Gas Lease Auctions”.  Econometrica 63:1 (January 1995), pp. 1-28.

Ramsey, Frank P. (1927), “A Contribution to the Theory of Taxation,” The Economic Journal 37:145 (March), 47-61.

Samuelson, William (1984), “Bargaining Under Asymmetric Information,” Econometrica 52:4 (July): 995-1007.

Simon, Herbert A.,  “Theories of Decision-Making in Economics and Behavioral Science”, American Economic Review (1959).

Stigler, George J. (1957), “Perfect Competition, Historically Contemplated,” Journal of Political Economy 65:1 (February), 1-17.

Stiglitz, Joseph E., “The Causes and Consequence of the Dependence of Quality on Price,” Journal of Economic Literature 25 (March 1987): 1-48.



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