These courses are starting to get a bit redundant but I said I would go through the process so I will finish it.
To evaluate business strategies and outcomes, you need to understand the many ways that firms account for, control, manage, and utilize costs. In this area, you’ll learn about alternative costing methods, and how the resulting cost information can be used for decision-making. One of the base-level options emphasizes performance measurement and executive compensation. Another emphasizes strategic cost management and control. If you already understand cost accounting and alternative methods for determining the cost and profitability of different products, and you have career interests in either management consulting or general financial management, an advanced option emphasizes frameworks for “value-based” management.
This is the old fashioned Cost Accounting course with FIFO (First In First Out) vs. LIFO (Last In, First Out.) In accounting this relates to inventory. In Human Resources, it relates to people. But for course purposes, this is one of those got to take it but don't expect it to be a lot of fun courses. The takeaway from the course should be that there sure are a lot of ways to value something and accounting isn't as precise as one would think. Think Enron here.
On to the fun stuff.
These courses introduce you to the substantive and procedural aspects of marketing management. You’ll learn about analyzing the needs and wants of potential customers, and creating and delivering goods and services profitably. Beyond the base-level option, one alternative uses learning-by-doing (through simulations), with an emphasis on business-to-business marketing; a more advanced option stresses the use of advanced statistical techniques in the practice of marketing.
Well, it should be fun but this doesn't sound fun. It should be fun because this is where you get to play brand manager for Gatorade rolling out a new drink or somebody at P&G rolling out whatever P&G rolls out. But this course has some pretty heavy math code words--substantive, procedural, advanced statistical techniques. Actually, this is not all bad as major marketing companies usually have new MBA's doing a lot of statistical stuff before they do any fun stuff like commercials. Kind of boot camp for new hires.
The dismal science comes next.
The discipline of microeconomics is the foundation of much of what you study in business school, as well as being a tool of analysis of specific market and non-market interactions. The base-level course provides you with the essential frameworks and concepts to study market equilibrium, firm and consumer behavior, and competitive interactions through the lens of microeconomics. More advanced options spend less time on the basics and instead apply those basics to specific contexts, such as auctions, price discrimination, and business strategy. A very advanced option, for students with extensive background, teaches you to analyze difficult microeconomic issues empirically.
There are two economics--micro and macro. Micro, as the name implies, means small like in individuals and companies. Macr0 means big as in government or international economics. Micro concentrates on stuff like consumer income and purchasing decisions while macro does GNP kind of stuff. Get ready for a lot of charts showing behavior. A classic would be the impact of gasoline prices on consumer spending. Some people actually like this kind of stuff but most don't so something to be suffered through.
Just a few to go but this is just the first year. But I'm not going through the second year because it is primarily electives based on the first year courses. So we are almost finished with MBA school.
Side note. One does get some interesting e-mail in this business. Go to this guy's site and let me know if you can figure out what is going on. http://us.f522.mail.yahoo.com/ym/ShowLetter?MsgId=9349_3015896_247507_1428_5700_0_7981_15830_3452982249&Idx=0&YY=11170&inc=25&order=down&sort=date&pos=0&view=a&head=b&box=Inbox