BUEC - Business Economics

Business organizations as systems of mutually reinforcing functional areas where decision making is driven by underlying economic forces. Application of economic theory to facilitate complex decision making within organizations: economic models of decision making are linked directly to functional areas of management. Topics include the organization of firms and industries; meeting customer needs; and decision making involving production, resource use, dealing with risk and uncertainty, scale and scope of operations, competitive advantage, and product pricing. Prerequisite: ECON 101, ECON 102, and MATH 154 or equivalent. Not open to students with previous credit in ECON 281. Students may not receive credit for both BUEC 211 and BUEC 311.

Decision-making by businesses and consumers underlies our economic system. This class applies economic theory to build better understanding of complex decision making within organizations and strategic interactions between firms, along with a detailed examination of budget-constrained consumer decision-making. Other topics include decision-making involving production, resource use, risk management, scale and scope of operations, competitive advantage, and product pricing; game theory; and government intervention in markets. Prerequisite: ECON 101, ECON 102, and MATH 154 or equivalent. Not open to students with previous credit in ECON 281.

Provides students with an introduction to the tools they will require to succeed in the increasingly international business world. Serves as a basis for other more advanced courses in International Business. Topics covered could include Country Differences, International Trade, Foreign Direct Investment, Regional Economic Integration, The Foreign Exchange Market and International Business Strategy and Operations. Prerequisites: ECON 101 and ECON 102. Students may receive credit for only one of BUEC 342 or ADMI 342.

Introduces students to the current Canadian and global energy landscape, key energy industries, regulations, and commodities markets. Examines oil sands, conventional oil sectors, refined products such as gasoline, renewable fuels, natural gas including shale gas, and electricity. Students will also be introduced to environmental issues such as climate change, water, and land use. Students will use economic models of energy demand and supply to determine the environmental and economic advantages/shortcomings of these models in their application to real-world issues, both within Alberta and internationally, and will learn how economics can be used to guide energy policy. Not to be taken by students with credit in BUEC 463.

Businesses, organizations, and firms require data-driven insights to remain competitive. This course teaches you to clean and visualize data and use them for research analysis. All the course materials are based on real data and interesting cases, such as analyzing why the hotel prices are different, how temperature affects electricity consumption, whether large firms are better managed, family ownership and quality of management, etc. This course begins with data introduction, processing, and visualization. Then, we will explore different case topics to show how to apply data to real-world questions. Moreover, we will also learn the most relevant tools (e.g., Python) and methods to conduct your analysis. This course incorporates the learning goals of the BCom program, in particular quantitative skills, data analysis, question-solving, critical thinking, oral and written communications, and teamwork. By successfully completing this course, you will be good at processing and visualizing data, conducting basic research analysis using the most popular methods, and writing a research paper. Prerequisites: MGTSC 212 or 312 or STAT 252.

This course applies the principles of labour economics to examine differential work conditions, wage inequality, and other forms of inequality for historically disadvantaged groups in various business sectors, industries, and occupations in developed and developing countries. The course reviews historical changes in laws, regulations, reporting requirements, sustainability guidelines, union practices, and societal values, and the implications of these changes for business, the economy, and society. Prerequisite: BUEC 211 or 311 or ECON 281

Examines the changing global business environment and how it impacts international business decision-making. Topics covered could include Trends in Globalization, International Business in Canada, Managing Multinational Corporations, Importing and Exporting, International Labor Markets and the Market for Skills, International Financial Markets, Financial Crises, and Corporate Governance in Different Countries. Prerequisite: BUEC 342 or consent of Instructor. Students may receive credit for only one of BUEC 442, 445 or ADMI 445.

This course is a combination of on site study tours to a foreign country and academic coursework. The study tour component will normally be for a two to three week period, during which students will participate in company tours, lectures and language and cultural study to develop an appreciation for different business cultures and contexts. Upon return, students will be expected to complete a group project or case study relating to the business environment of the country under study. Prerequisites: Preference will be given to students who have completed at least one other international business course in the Faculty of Business.

Introduction to the principles of commercial real estate. Real estate markets and decision making; real estate economics and location; property development; marketing and property management; mortgage lending, real estate investment, brokerage and regulation. Industry guest speakers help link theory with industry practice in their areas of expertise. Prerequisite: BUEC 311 or ECON 281.

Theory, fundamentals and methods in real estate finance and investment; real estate investment analysis and valuation; real estate entities and taxation; leases and corporate real estate; the economics and finance of real estate development; real estate capital markets; land development and the home building industry. This course is designed to provide the student with essential tools to understand how real estate value is determined, created and influenced. Students use software to analyze real estate cases.

A practicum about real estate development and decision making. Real estate development is a process during which the entrepreneur identifies a site which is underutilized, undertakes the necessary conceptual, design, market, economic, and financial analysis and brings the site to its highest and best use. Topics include market analysis of different types of real estate uses, massing studies, cost estimation and deal structuring, analysis of site constraints and regulation and financial analysis of to-be-built properties. Students in teams undertake the background research and feasibility analysis related to a site and make a final proposal to the instructor. Prerequisite: BUEC 311 or ECON 281 or consent of instructor.

Uses the basic tools of business economics in order to gain a better understanding of energy markets and industries. Differences and similarities between specific industries (oil, gas, electricity, etc.) and between different industry segments (exploration, production, retail, etc.) are highlighted. New challenges faced by the industry, most notably environmental concerns, but also globalization and new forms of competition, are analysed with respect to the impacts that they have had and might have in the future on firms' strategies and on market performance. Prerequisite: BUEC 311 or ECON 281.

Introduction to the theory and application of environmental economics and its role in management and policy-making. The course will cover development of a model of pollution control, evaluation of policy in this context, the setting of optimal environmental policies, and the application of these policies. Particular policies and practices implemented in North America will be examined. Prerequisite: BUEC 311 or ECON 281.

The role of business in the public policy process: how business organizations influence public policy and its administration, and how public policies affect business. Processes of change are of particular interest. Attention is to the motivation, behavior patterns, and the dynamics of the interaction of different stakeholder groups, policy makers, and managers responsible for the implementation of public policies. Develops a framework for analysis of the effectiveness and efficiency of different fiscal, regulatory, and promotional policies; consideration is given to the impact of technological, economic, and social change on policy choice in the long term. Prerequisite: BUEC 311 or ECON 281.

Normally restricted to third- and fourth-year Business students. Prerequisites: BUEC 311 or ECON 281, or consent of Department. Additional prerequisites may be required.

Special study for advanced undergraduates. Prerequisites: consent of Instructor and Assistant Dean, Undergraduate Program.

Special Study for advanced undergraduates. Prerequisites: BUEC 495, consent of the Instructor and Assistant Dean, Undergraduate Program.

Special Study for advanced undergraduates. Prerequisites: BUEC 496, consent of the Instructor and Assistant Dean, Undergraduate Program.

This course focuses on economic decision making at the level of the firm and consumer, utilizing demand and supply analysis to help understand a variety of economic and managerial issues. Formal models of managerial economic problems will be developed and used for purposes of analysis. The course will also deal with public economics, regulatory economics and introduce issues of information economics and strategic behavior. The theory of public choice and public goods will be used to analyze a variety of public economic issues. The course will also cover macroeconomic issues including: measuring macroeconomic variables, sources of economic growth, business cycles, interest rates, exchange rates, government debt, and other topics. Credit will not be given for both BUEC 502 and 503.

Provides students with an introduction to the tools they will require to succeed in the increasingly international business world. Serves as a basis for other more advanced courses in International Business, covering such topics as Country Differences, International Trade, Foreign Direct Investment, Regional Economic Integration, The Foreign Exchange Market and International Business Strategy and Operations. This course will also cover selective topics in international macro economics. Prerequisite: BUEC 502 or 503. Not open to students who have taken BUEC 541.

This course provides a broad introduction to the energy industries and markets, focusing on market structure, firm strategy and behavior, regulation and public policy. The evolving nature of industries and markets, including technological challenges, environmental constraints and globalization, are discussed. The course includes a number of site visits and guest speakers. Prerequisite: BUEC 502 or 503. Not open to students with credit in BUEC 560.

The economic theory of externalities is introduced and applied in a discussion of alternative policy instruments such as taxes, tradable permits, and regulatory standards which are used to deal with pollution. Topics include current environmental regulation issues such as climate change, water and air pollution and firm strategy. Extensions include an introduction to cost-benefit analysis and environmental impact assessment tools for project evaluation as well as a discussion of the economics of non-renewable resources. Prerequisite: BUEC 502 or 503. Not open to students with credit in BUEC 562.

Introduction to the principles of commercial real estate. Real estate markets and decision making; real estate economics and location; property development; Indigenous land considerations and government policy; marketing and property management; mortgage lending, real estate investment, brokerage and regulation. Industry guest speakers help link theory with industry practice in their areas of expertise.

Theory, fundamentals and methods in real estate finance and investment; real estate investment analysis and valuation; real estate entities and taxation; leases and corporate real estate; the economics and finance of real estate development; real estate capital markets; land development and the home building industry. This course is designed to provide the student with essential tools to understand how real estate value is determined, created and influenced. Students use software to analyze real estate cases. Prerequisites: BUEC 503, and FIN 501 or 502 (or consent of instructor).

A practicum about real estate development and decision making. Real estate development is a process during which the entrepreneur identifies a site which is underutilized, undertakes the necessary conceptual, design, market, economic, and financial analysis and brings the site to its highest and best use. Topics include market analysis of different types of real estate uses, massing studies, cost estimation and deal structuring, analysis of site constraints and regulation and financial analysis of to be-built properties. Students in teams undertake the background research and feasibility analysis related to a site and make a final proposal to the instructor. Prerequisites: BUEC 503, and FIN 501 or 502 (or consent of instructor).

Increasing competition and globalization of the supply chain have made cost competitiveness and procurement effectiveness key to successful business performance. Best-in-class procurement practices are essential to attaining global supply chain competitiveness today. This course introduces students to the principles of procurement and how they can help enhance cost and supply chain efficiency. Learning outcomes will be both strategic and tactical including topics such as the business function of procurement, the procurement process and organization, trends in organizational design, quality management, make - buy decisions, strategic cost management, strategic and global sourcing, supplier selection and management, inventory strategies, category management, performance measurement and evaluation, RFP (Request for Proposal) and contract management, negotiations and conflict management, and electronic sourcing. Prerequisite: BUEC 503.

Examines the changing global business environment and how it impacts international business decision-making. Covers such topics as Trends in Globalization, International Business in Canada, Managing Multinational Corporations, Importing and Exporting, International Labor Markets and the Market for Skills, International Financial Markets, Financial Crises, and Corporate Governance in Different Countries.

Combines lectures at the University of Alberta with an on-site study tour to a foreign country. The study tour component is normally for a one-to-two week period, during which students participate in company tours and lectures, to develop an appreciation for different business cultures and contexts. Students are usually expected to complete projects or case studies relating to the country under study. Check with MBA office for enrolment restrictions. Credit will not be given for both BUEC 648 and any other MBA study tour to the same destination. Students may receive credit for only two of the following three courses: BUS 648, BUEC 648, SMO 648.

A project-focused course dealing with international market, business and policy issues and challenges in the energy, environment and natural resources sectors. A course designed around an international trip with a focus on knowledge integration and application to international markets through an intense set of visits with firms, organizations and government agencies. The specific content including the location of the trip and issues addressed changes from year to year. The course involves both teamwork and individual research. In exceptional circumstances students can complete an additional project if they are unable to complete the travel component of the course. The course is open only to students registered in the NREE specialization in the final year of the MBA program. Prerequisites: Completion of all core and NREE required courses, or permission from the program office.

Topics may vary from year to year. Students should check with the MBA Office for pre/corequisites of specific sections.

Outlining the main schools of economic theory, macroeconomic tools and the effects of macroeconomic policy on business performance; reviewing decision-making processes of individual firms, as well as consumer behavior, price theory, marginal analysis, and forms of competition. Restricted to students registered in the MBA China Program.

Understanding the globalization of business, international trade and trading blocks; planning for market entry and development; exporting, joint ventures, direct investment; developing the skills of an international manager. Restricted to students registered in the MBA China Program.

Outlining the main schools of economic theory, macroeconomic tools and the effects of macroeconomic policy on business performance; reviewing decision-making processes of individual firms, as well as consumer behavior, price theory, marginal analysis, and forms of competition. Restricted to Executive MBA students only.

A week-long intensive course. Understanding trends affecting business decision making; the regulatory environment; business/government interfaces; and the management of public affairs. Restricted to Executive MBA students only.

Understanding the globalization of business, international trade and trading blocks; planning for market entry and development; exporting, joint ventures, direct investment; developing the skills of an international manager. Restricted to Executive MBA students only.

Students are required to complete a custom designed project for a client company and prepare a business plan. The company selected could be the student's own organization or a unit within the organization. Restricted to students registered in the MBA China Program.