Managerial Economics

MECO 3300 Introduction to Energy Technology (3 semester credit hours) This course introduces different energy resources (oil, gas, coal, nuclear, wind, solar) and covers technology related to discovering/inventing and exploiting resources, transportation of these resources and their conversion from one form to another. Business processes involved in energy supply chain from resource discovery to end user sales will be examined. Costs incurred and revenues made in the process are also discussed. (Same as ENGY 3300) (3-0) Y

MECO 3330 Energy Economics (3 semester credit hours) This course builds on topics of market structure, competition, and optimal decision-making presented in intermediate microeconomics. Students gain an advanced understanding of the economic decisions faced by energy producers and consumers in today's society and learn to evaluate incentives faced by industry players and identify causes of and solutions to market inefficiencies. Topics include optimal resource depletion, competitive strategies and incentives for anti-competitive behavior, energy and environmental policy, and energy risk. Prerequisite: ECON 2302. (Same as ENGY 3330) (3-0) Y

MECO 3340 Energy Law and Contracts (3 semester credit hours) This course provides an introductory overview of current topics in energy law and policy. Topics include the study of essential agreements used in the energy industry, such as (i) international petroleum upstream government contracts, (ii) agreements and leases to explore for, develop and produce crude oil, natural gas, wind, and solar, (iii) joint operating agreements where more than one party owns rights to develop a particular area, and (iv) transportation agreement. Studies also cover regulation of various energy resources and electric utilities, energy security, energy trade, and environment, as well as the evolving relationship between policy and markets. (Same as ENGY 3340) (3-0) R

MECO 3360 Comparative Institutions of Production and Distribution (3 semester credit hours) Economic history of civilization and history of political-economic-business ideas as they impact production and distribution systems. Related examination of the ideas and canonical texts in the development of classical liberalism and its critics. Critical analysis of the principles and methods of current mainstream economics in understanding the business world. Limited to students admitted to the CAF fellowship program. Department consent required. (3-0) Y

MECO 3361 Comparative Institutions of Production and Distribution II (3 semester credit hours) Economic history of civilization and history of political-economic-business ideas as they impact production and distribution systems. Related examination of the ideas and canonical texts in the development of classical liberalism and its critics. Critical analysis of the principles and methods of current mainstream economics in understanding the business world. Department consent required. (3-0) Y

MECO 4300 Energy Land Management (3 semester credit hours) This course is designed to give students a keen understanding of the important role that land law and management practices have for energy industry participants. The course begins by presenting land management activities within the broader energy supply chain and relating their importance to upstream and downstream activities, and then proceeds to a combination of practical experience analyzing Texas land leases and classroom case studies of mineral property rights, lease structure and acquisition, title transfers and recordation, and more. Prerequisite: OPRE 3310. (Same as ENGY 4300) (3-0) R

MECO 4315 Behavioral Economics and Finance (3 semester credit hours) This course introduces students to behavioral models of decision making with particular attention to economic and finance decision making. These models incorporate the psychological biases, social objectives or bounds to rationality that human decision makers are known to exhibit. The course will also discuss ways in which policies or markets can be designed to take advantage of individuals' psychological biases to achieve desirable outcomes. Prerequisite: FIN 3320. (Same as FIN 4315) (3-0) R

MECO 4340 Thinking Strategically (3 semester credit hours) Good managerial decisions anticipate the actions of others - be they shareholders, competitors, customers, or employees. Using case studies, we learn how to apply analytical frameworks from decision analysis, psychology, and game theory to solve business problems. Prerequisite: OPRE 3360 or STAT 3360 or instructor consent required. (3-0) R

MECO 4342 Financial and Business Negotiation Analysis (3 semester credit hours) This course introduces students to the economic and psychological analysis of negotiation. The objective of the course is to make you a more effective negotiator. Topics to be covered include negotiation preparation, making an opening offer, creating and claiming value, and repeated negotiations. The class revolves around a set of negotiation simulations to practice the skills we learn. Simulations involve a variety of business situations such as negotiating price, hiring, mergers, financial transactions, and starting a new business venture. (3-0) R

MECO 4351 Industrial Organization and Corporate Strategy (3 semester credit hours) This course focuses on the operation of markets and how firms compete within different market structures. Prerequisite: ECON 3310. (3-0) R

MECO 4352 Applied Econometrics and Time Series Analysis (3 semester credit hours) This course introduces students to the use of econometric and time series methods for the analysis of business data, paying particular attention to their uses in business forecasting. Prerequisite: STAT 3360 or OPRE 3360. (3-0) R

MECO 4370 Data Science Decision Making (3 semester credit hours) This course provides an introductory level examination of extracting knowledge from data utilizing various statistical and scientific methods. The course explains how to manipulate and analyze data and how to incorporate it into the business decision process. Topics include analyzing the decision to determine what data is needed, evaluating the accuracy of data, structuring a decision problem, and measuring risk and the overall trade-offs. Students will learn a systematic approach to analyze complex decisions and techniques for communicating decision problems and solutions to data savvy business managers. Prerequisite: OPRE 3360 or STAT 3360 or instructor consent required. (Same as OBHR 4370) (3-0) R

MECO 4V90 Special Topics in Managerial Economics (1-4 semester credit hours) Examination of selected managerial economics topics. May be repeated for credit as topics vary (8 semester credit hours maximum). Instructor consent required. ([1-4]-0) R