Embedded Files
SYLLABUS
SYLLABUS
TEXTBOOK
TEXTBOOK
There is NO TEXTBOOK for this class
There is NO TEXTBOOK for this class
There will be numerous reading assignments each week.
There will be numerous reading assignments each week.
OFFICE HOURS
OFFICE HOURS
Monday 6-7pm Sellinger Hall 419
ZOOM
ZOOM
https://loyola.zoom.us/my/thomaslyons
password is on moodleCLASSROOM TECHNOLOGY
CLASSROOM TECHNOLOGY
Students may NOT use computers, tablets, phones, earphones during class.
LECTURES, READINGS, RESOURCES
LECTURES, READINGS, RESOURCES
Introduction 0
Introduction 0
HOW TO PREPARE
HOW TO PREPARE
Assignment 0
Assignment 0
Economic Organization 1
Economic Organization 1
In Class Discussion : Social Responsibility of Business
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
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
Midterm Exam
Midterm Exam
The test will be on everything that we studied in the class so far.
Students should focus on theories in the reading assignments and the lecture slides. The format of the test will be short answer.
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
Assignment 8
Assignment 8
Strategy 9
Strategy 9
Summary 10
Summary 10
Course evaluations are the last two weeks of the semester.
Final Exam
Final Exam
The final examination is cumulative.
Students should focus on the theories in the readings & lectures.
The format of the test will be multiple choice and short answer.
Supplemental Resources
Supplemental Resources
Economic Organization
“The Entrepreneurial Society”, Thomas Lyons, working paper, (2022)
How Lower Transactions Costs are Changing the Structure of the Economy
“My Years in Meetings”, Herbert L. Kahn, New York Times, A17, July 25, 1988
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
Intelectual Property Toolkits, by US Copyright Office
Technology
"Applying AI to Rebuild Middle Class Jobs", David Autor, NBER working paper 32140
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
The Law, Frederic Bastiat, 1850
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
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