Embedded Files
SYLLABUS
SYLLABUS
TEXTBOOK
TEXTBOOK
There in NO textbook for this class.
There in NO textbook for this class.
There will be numerous reading assignments each week (see below).
There will be numerous reading assignments each week (see below).
ZOOM
ZOOM
https://loyola.zoom.us/my/thomaslyons
... this is the link if we need to have a zoom meeting... the password is on moodle.CLASSROOM TECHNOLOGY
CLASSROOM TECHNOLOGY
Students may NOT use computers, tablets, phones, earphones during class.
LECTURES, READINGS and RESOURCES
LECTURES, READINGS and RESOURCES
Introduction 0
Introduction 0
HOW TO PREPARE
HOW TO PREPARE
Assignment 0
Assignment 0
DUE in class on Wednesday January 21, 2026 [printed on paper]
Economic Organization 1
Economic Organization 1
Assignment 1
Assignment 1
DUE in class on January 28, 2026 [printed on paper]
Time, Uncertainty, Risk 2
Time, Uncertainty, Risk 2
HOW TO PREPARE
HOW TO PREPARE
READ
READ
Chapter 7 “The Meaning of Risk and Uncertainty”, pages 197-231
Chapter 8 “Structures and Methods for Meeting Uncertainty”, pages 232-263
CLASS LECTURE
CLASS LECTURE
Assignment 2 Solution
Change 3
HOW TO PREPARE
HOW TO PREPARE
READ
READ
Capitalism, Socialism and Democracy, Joseph Schumpeter, 1943
Chapter 7 “The Process of Creative Destruction”, pages 81-86
Chapter 2 “Entrepreneurship”, pages 30-75
CLASS LECTURE
CLASS LECTURE
Assignment 3
Assignment 3
due in class, 2026
Capital 4
Capital 4
HOW TO PREPARE
HOW TO PREPARE
READ
READ
Capital and Interest, Book II Positive Theory of Capital, Eugen von Bohm-Bawerk, 1889
"The Capitalist Production Process, page 79-88
Capital and its Structure, L. Lachman, 1956
Chapter 1 "The Order of Capital", pages 1-19
CLASS LECTURE
CLASS LECTURE
Assignment 4
Assignment 4
Due in Class March 12, 2025
Information 5
Information 5
CLASS LECTURE
CLASS LECTURE
Innovation 6
Innovation 6
HOW TO PREPARE
HOW TO PREPARE
READ
The Innovator’s Dilemma, by Clayton Christensen, 1997
Introduction, pages 6-19
Chapter 1 “How Great Firms Can Fail?”, pages 20-34
Chapter 2 “Value Networks and the Impetus to Innovate”, pages 38-57
CLASS LECTURE
CLASS LECTURE
Intellectual Property 7
Intellectual Property 7
Technology 8
Technology 8
CLASS LECTURE
CLASS LECTURE
Assignment 8
Assignment 8
Due in Class
Strategy 9
Strategy 9
Final Exam
Final Exam
Wednesday April 29 at 9AM
Supplemental Resources
Supplemental Resources
Economic Organization
Innovation
The Disruption Dilemma, Joshua Gans, 2016
Chapter 2 “What is Disruption?, pages 22-31, beginning with "Henderson's Alternative Perspective"
Chapter 3 “Sources of Disruption”, pages 33-47irms
“Why Innovation is Still Capitalism’s Star”, New York Times, August 17, 2013, Robert Shiller
Intellectual Property
Intellectual Property, by OpenStax
Strategy
“The Theory of Business, Peter Drucker, Harvard Business Review, 1994
“How Competitive Forces Shape Strategy”, Michael Porter, Harvard Business Review, 1979
Adaptability
The Disruption Dilemma, Joshua Gans, 2016
Chapter 7 “Insuring Against Disruption”, pages 97-111
The Role of Government
General Theory of Employment, Interest and Money, J. M. Keynes, 1936
Chapter 12 “The State of Long Term Expectations”, pages 147-164
The New Industrial State, John Kenneth Galbraith, Princeton University, 1967
Chapter 7, “The Technostructure”
"The Technostructure in John Kenneth Galbraith's Vision"', Catalin Marginean, 2015
Globalization
“The Globalization of Markets”, Theodore Levitt, Harvard Business Review, (1983)
Other
“The Economics of the Global Energy Crisis”, Michael Greenstone, AEA Papers & Proceedings 2024
“My Years in Meetings”, Herbert L. Kahn, New York Times, A17, July 25, 1988
“The Entrepreneurial Society”, Thomas Lyons, working paper, (2022)
How Lower Transactions Costs are Changing the Structure of the Economy
"Applying AI to Rebuild Middle Class Jobs", David Autor, NBER working paper 32140
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