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Below is the list (including descriptions and syllabi) of the courses offered by the Division at the graduate level. Note: All syllabus subject to change.
EBGN504 ECONOMIC EVALUATION & INVESTMENT DECISION METHODS-Time value of money concepts of present worth, future worth, annual worth, rate of return and break-even analysis are applied to after-tax economic analysis of mineral, petroleum and general investments. Related topics emphasize proper handling of (1) inflation and escalation, (2) leverage (borrowed money), (3) risk adjustment of analyses using expected value concepts, and (4) mutually exclusive alternative analyses and service producing alternatives. Case study analysis of a mineral or petroleum investment situation is required. EBGN505 INDUSTRIAL ACCOUNTING-Concepts from both financial and managerial accounting. Preparation and interpretation of financial statements and the use of this financial information in evaluation and control of the organization. Managerial concepts include the use of accounting information in the development and implementation of a successful global corporate strategy, and how control systems enhance the planning process. EBGN509 MATHEMATICAL ECONOMICS-This course reviews and re-enforces the mathematical and computer tools that are necessary to earn a graduate degree in Mineral Economics. It includes topics from differential and integral calculus; probability and statistics; algebra and matrix algebra; difference equations; and linear, mathematical and dynamic programming. It shows how these tools are applied in an economic and business context with applications taken from the mineral and energy industries. It requires both analytical as well as computer solutions. At the end of the course you will be able to appreciate and apply mathematics for better personal, economic and business decision making. Prerequisites: MACS111, EBGN311(see notes); or permission of instructor. EBGN510 NATURAL RESOURCE ECONOMICS-The threat and theory of resource exhaustion; commodity analysis and the problem of mineral market instability; cartels and nature of mineral pricing; the environment; government involvement; mineral policy issues; and international mineral trade. This course is designed for entering students in mineral economics. Prerequisites: EBGN311(see notes) or permission of instructor. EBGN511 MICROECONOMICS-The first of two courses dealing with applied economic theory. This part concentrates on the behavior of individual segments of the economy, the theory of consumer behavior and demand, the theory of production and costs, duality, welfare measures, price and output level determination by business firms, and the structure of product and input markets. Prerequisites: MATH111, EBGN311(see notes) and pre/co-requisite EBGN509. EBGN512 MACROECONOMICS-This course will provide an introduction to contemporary macroeconomic concepts and analysis. Macroeconomics is the study of the behavior of the economy as an aggregate. Topics include the equilibrium level of inflation, interest rates, unemployment and the growth in national income. The impact of government fiscal and monetary policy on these variables and the business cycle, with particular attention to the effects on the mineral industry. Prerequisites: MATH111, EBGN311(see notes) and pre/co-requisite EBGN509; or permission of instructor. EBGN515 ECONOMICS AND DECISION MAKING-The application of microeconomic theory to business strategy. Understanding the horizontal, vertical, and product boundaries of the modern firm. A framework for analyzing the nature and extent of competition in a firm's dynamic business environment. Developing strategies for creating and sustaining competitive advantage. Mineral Economics students will not receive degree credits for this course (except joint degree IFP students, see Division Director). Fall 2008 Syllabus EBGN525 OPERATIONS RESEARCH METHODS- The core of this course is a scientific approach to planning and decision-making problems that arise in business. The course covers deterministic optimization models (linear programming, integer programming and network modeling) and a brief introduction to stochastic (probabilistic) models with Monte-Carlo simulation. Applications of the models are covered using spreadsheets. The intent of the course is to enhance logical modeling ability and to develop quantitative managerial and spreadsheet skills. The models cover applications in the areas of energy and mining, marketing, finance, production, transportation, logistics and work-force scheduling. Prerequisite: MATH111 or permission of instructor. EBGN528 INDUSTRIAL SYSTEMS SIMULATION- The course focuses on creating computerized models of real or proposed complex systems for performance evaluation. Simulation provides a cost effective way of pre-testing proposed systems and answering "what-if" questions before incurring the expense of actual implementations. The course is instructed in the state-of-the-art computer lab ( CTLM), where each student is equipped with a personal computer and interacts with the instructor during the lecture. Professional version of a widely used commercial software package, “Arena”, is used to build models, analyze and interpret the results. Other business analysis and productivity tools that enhance the analysis capabilities of the simulation software are introduced to show how to search for optimal solutions within the simulation models. Both discrete-event and continuous simulation models are covered through extensive use of applications including call centers, various manufacturing operations, production/inventory systems, bulk-material handling and mining, port operations, high-way traffic systems and computer networks. Prerequisites: MATH111, MATH530 or permission of instructor. EBGN530 ECONOMICS OF INTERNATIONAL ENERGY MARKETS-Application of models to understand markets for oil, gas, coal, electricity, and renewable energy resources. Models, modeling techniques, and issued included are supply and demand, market structure, transportation models, game theory, futures markets, environmental issues, energy policy, energy regulation, input/output models, energy conservation, and dynamic optimization. The emphasis in the course is on the development of appropriate models and their application to current issues in energy markets. Prerequisites: MATH111 and EBGN311(see note 2), EBGN509, EBGN510, EBGN 511 or permission of instructor. EBGN535 ECONOMICS OF METAL INDUSTRIES AND MARKETS-Metal supply from main product, byproduct, and secondary production. Metal demand and intensity of use analysis. Market organization and price formation. Public policy, comparative advantage, and international metal trade. Metals and economic development in the developing countries and former centrally planned economies. Environmental policy and mining and mineral processing. Students prepare and present a major research paper. Prerequisites: MATH111, EBGN311(see note 2); EBGN509, EBGN510, EBGN511; or permission of instructor. Fall 2007 Reading List, Fall 2007 Syllabus, Fall 2007 Paper EBGN536 MINERAL POLICIES AND INTERNATIONAL INVESTMENT-Identification and evaluation of international mineral investment policies and company responses using economic, business and legal concepts. Assessment of policy issues in light of stakeholder interests and needs. Theoretical issues are introduced and then applied to case studies, policy drafting, and negotiation exercises to assure both conceptual and practical understanding of the issues. Special attention is given to the formation of national policies and corporate decision making concerning fiscal regimes, project financing, environmental protection, land use and local community concerns and the content of exploration and extraction agreements. Prerequisite: MATH111, EBGN311, EBGN509, EBGN510, EBGN511, ebgn511; or permission of instructor. EBGN541 INTERNATIONAL TRADE-Theories and evidence on international trade and development. Determinants of static and dynamic comparative advantage. The arguments for and against free trade. Economic development in non-industrialized countries. Sectoral development policies and industrialization. The special problems and opportunities created by extensive mineral resource endowments. The impact of value-added processing and export diversification on development. Prerequisites: MATH111 and EBGN311(see notes); EBGN509, EBGN511; or permission of instructor. Back to top EBGN542 ECONOMIC DEVELOPMENT-Role of energy and minerals in the development process. Sectoral policies and their links with macroeconomic policies. Special attention to issues of revenue stabilization, resource largesse effects, downstream processing, and diversification. Prerequisites: MACS111, EBGN311(see note 2), EBGN509, EBGN511, EBGN512; or permission of instructor. EBGN545 CORPORATE FINANCE-The fundamentals of corporate finance as they pertain to the valuation of investments, firms, and the securities they issue. Included are the relevant theories associated with capital budgeting, financing decisions, and dividend policy. This course provides an in-depth study of the theory and practice of corporate financial management including a study of the firm's objectives, investment decisions, long-term financing decisions, and working capital management. Prerequisites: EBGN505(see note) or permission of instructor. EBGN546 INVESTMENT & PORTFOLIO MANAGEMENT-The theory and practice of investment, providing a comprehensive understanding of the dynamics of securities markets, valuation techniques and trading strategies for stocks, bonds, and derivative securities. This includes the mean-variance efficient portfolio theory, the arbitrage pricing theory, bond portfolio management, investment management functions and policies, and portfolio performance evaluation. Prerequisites: MATH111, MATH530, EBGN311(see notes); or EBGN504, or permission of instructor. EBGN547 FINANCIAL RISK MANAGEMENT-Analysis of the sources, causes and effects of risks associated with holding, operating and managing assets by individuals and organizations; evaluation of the need and importance of managing these risks; and discussion of the methods employed and the instruments utilized to achieve risk shifting objectives. The course concentrates on the use of derivative assets in the risk management process. These derivatives include futures, options, swaps, swaptions, caps, collars and floors. Exposure to market and credit risks will be explored and ways of handling them will be reviewed and critiqued through analysis of case studies from the mineral and energy industries. Prerequisites: MATH111, MATH530, EBGN311(see note), EBGN505; EBGN545 or EBGN546; or permission of instructor. Recommended: EBGN509, EBGN511. EBGN552 COMPUTATIONAL NONLINEAR PROGRAMMING-As an advanced course in optimization, this course will address both unconstrained and constrained nonlinear model formulation and corresponding algorithms (e.g., Gradient Search and Newton’s method, and Lagrange Multiplier Methods and Reduced Gradient Algorithms, respectively). Applications of state-of-the-art hardware and software will emphasize solving real-world problems in areas such as mining, energy, transportation, and the military. Prerequisites: MATH111; EBGN525 or EBGN555; or permission of instructor. EBGN553 PROJECT MANAGEMENT- An introductory course focusing on analytical techniques for managing projects and on developing skills for effective project leadership and management through analysis of case studies. Topics include project portfolio management, decomposition of project work, estimating resource requirements, planning and budgeting scheduling, analysis of uncertainty, resource loading and leveling, project monitoring and control, earned value analysis and strategic project leadership. Guest speakers from industry discuss and amplify the relevance of course topics to their specific areas of application (construction, product development, engineering design, R&D, process development, etc.). Students learn Microsoft Project and complete a course project using this software, demonstrating proficiency analyzing project progress and communicating project information to stakeholders. Prerequisites: EBGN504 or permission of instructor. EBGN555 LINEAR PROGRAMMING-This course addresses the formulation of linear programming models, examines linear programs in two dimensions, covers standard form and other basics essential to understanding the Simplex method, the Simplex method itself, duality theory, complementary slackness conditions, and sensitivity analysis. As time permits, multi-objective programming, an introduction to linear integer programming, and the interior point method are introduced. Applications of linear programming models discussed in this course include, but are not limited to, the areas of manufacturing, finance, energy, mining, transportation and logistics, and the military. Prerequisite: MATH111; MATH332 or EBGN509; or permission of instructor. EBGN556 NETWORK MODELS-Network models are special cases of linear programming problems that possess special mathematical structures. This course examines a variety of network models, specifically, spanning tree problems, shortest path problems, maximum flow problems, minimum cost flow problems, and transportation and assignment problems. For each class of problems, we present applications in areas such as manufacturing, finance, energy, mining, transportation and logistics, and the military. We also discuss an algorithm or two applicable to each problem class. As time permits, we explore combinatorial problems that can be depicted on graphs, e.g., the traveling salesman problem and the Chinese postman problem, and discuss tractability issues associated with these problems in contrast to "pure" network models. Prerequisites: MATH111; EBGN555 or EBGN525 or consent of instructor. EBGN557 INTEGER PROGRAMMING-As an advanced course in optimization, this course will address computational performance of linear and linear-integer optimization problems and, using state-of-the-art hardware and software, will introduce solution techniques for "difficult'' optimization problems. We will discuss such methodologies applied to the monolith (e.g., branch-and-bound and its variations, cutting planes, strong formulations), as well as decomposition and reformulation techniques (e.g., Lagrangian relaxation, Benders decomposition, column generation). Additional special topics may be introduced, as time permits. Prerequisite: MATH111, EBGN525 or EBGN555 or permission of instructor. EBGN559 SUPPLY CHAIN MANAGEMENT- The focus of the course is to show how a firm can achieve better “supply-demand matching” through the implementation of rigorous mathematical models and various operational/tactical strategies. We look at organizations as entities that must match the supply of what they produce with the demand for their products. A considerable portion of the course is devoted to mathematical models that treat uncertainty in the supply-chain. Topics include managing economies of scale for functional products, managing market-mediation costs for innovative products, make-to order versus make-to-stock systems, quick response strategies, risk pooling strategies, supply-chain contracts and revenue management. Additional “special topics” may be introduced, such as reverse logistics issues in the supply-chain or contemporary operational and financial hedging strategies, as time permits. Prerequisites: MATH111, MATH530 (a course in probability and statistics) or permission of instructor. EBGN560 DECISION ANALYSIS-Introduction to the science of decision making and risk theory. Application of decision analysis and utility theory to the analysis of strategic decision problems. Focuses on the application of quantitative methods to business problems characterized by risk and uncertainty. Choice problems, such as decisions concerning major capital investments, corporate acquisitions, new product introductions, and choices among alternative technologies, are conceptualized and structured using the concepts introduced in this course. Prerequisites: EBGN504 (see notes) or permission of instructor. EBGN561 STOCHASTIC MODELS AND APPLICATIONS-This course is an introduction to the use of probability models for analyzing risks and economic decisions and doing performance analysis for dynamic systems. The difficulties of making decisions under uncertainty are familiar to everyone. We will learn models that help us quantitatively analyze uncertainty and how to use related software packages for managerial decision-making and to do optimization under uncertainty. Illustrative examples will be drawn from many fields including marketing, finance, production, logistics and distribution, energy and mining, telecommunication and computer networks. The main focus of the course is to see methodologies that help to quantify the dynamic relationships of sequences of "random” events that evolve over time. Topics include static and dynamic monte-carlo simulation, decision-tree modeling, chance-constraint programming, discrete and continuous time Markov Chains, probabilistic dynamic programming, Markov decision processes, queuing processes and networks, and Brownian motion (as the governed stochastic process of many applications in finance). Most implementations will be covered in Ms. Excel with various add-in tools. Prerequisites: MATH111, MATH530, (Basic course in probability and statistics) or permission of the instructor. EBGN563 MANAGEMENT OF TECHNOLOGY-Case studies and reading assignments explore strategies for profiting from technology assets and technological innovation. The roles of strategy, core competencies, product and process development, manufacturing, R&D, marketing, strategic partnerships, alliances, intellectual property, organizational architectures, leadership and politics are explored in the context of technological innovation. The critical role of organizational knowledge and learning in a firm's ability to leverage technological innovation to gain competitive advantage is explored. The relationships between an innovation, the competencies of the innovating firm, the ease of duplication of the innovation by outsiders, the nature of complementary assets needed to successfully commercialize an innovation and the appropriate strategy for commercializing the innovation are developed. Students explore the role of network effects in commercialization strategies, particularly with respect to standards wars aimed at establishing new dominant designs. Prerequisites: EBGN504 recommended. EBGN564 MANAGING NEW PRODUCT DEVELOPMENT- Develops interdisciplinary skills required for successful product development in today's competitive marketplace. Small product development teams step through the new product development process in detail, learning about available tools and techniques to execute each process step along the way. Each student brings his or her individual disciplinary perspective to the team effort and must learn to synthesize that perspective with those of the other students in the group to develop a sound, marketable product. Prerequisites: EBGN563 recommended EBGN565 MARKETING FOR TECHNOLOGY-BASED COMPANIES-This class explores concepts and practices related to marketing in this unique, fast-paced environment, including the defining characteristics of high-technology industries; different types and patterns of innovations and their marketing implications; the need for (and difficulties in) adopting a customer-orientation; tools used to gather marketing research/intelligence in technology-driven industries; use of strategic alliances and partnerships in marketing technology; adaptations to the "4 P's"; regulatory and ethical considerations in technological arenas. Prerequisite: Permission of instructor. EBGN566 TECHNOLOGY ENTREPRENEURSHIP-Introduces concepts related to starting and expanding a technological-based corporation. Presents ideas such as developing a business and financing plan, role of intellectual property, and the importance of a good R&D program. Prerequisite: Permission of instructor. Fall 2008 Syllabus EBGN567 BUSINESS LAW AND TECHNOLOGY-Computer software and hardware are the most complex and rapidly developing intellectual creations of modern man. Computers provide unprecedented power in accessing and manipulating data. Computers work in complex systems that require standardization and compatibility to function. Each of these special features has engendered one or more bodies of law. Complex intellectual creation requires comprehensive intellectually property protection. Computer technology, however, differs fundamentally from previous objects of intellectual property protection, and thus does not fit easily into traditional copyright and patent law. This course covers topics that relate to these complex special features of computer and technology. Prerequisite: Permission of instructor. EBGN568 ADVANCED PROJECT ANALYSIS-As an advanced course in economic analysis that will look at more complex issues associated with valuing investments and projects. Discussion will focus on development and application of concepts in after-tax environments and look at other criteria and their impact in the decision-making and valuation process. Applications to engineering and technology aspects will be discussed. Effective presentation of results will be an important component of the course. Prerequisite: EBGN504 or Permission of instructor. EBGN570 ENVIRONMENTAL ECONOMICS-The role of markets and other economic considerations in controlling pollution; the effect of environmental policy on resource allocation incentives; the use of benefit/cost analysis in environmental policy decisions and the associated problems with measuring benefits and costs. Prerequisites: MATH111, EBGN311, EBGN509, EBGN510 or permission of instructor. EBGN571 MARKETING RESEARCH-This course is designed to provide research tools for the product manager in marketing. While the specific responsibilities of a porduct manager vary across industries and firms, three main activities common to the position are: (1) analysis of market information, (2) marketing strategy devolpement, and (3) implementing strateguy through marketing mix decisions. We will aslo simulate the product manager's job through student participation in a computer-simulated marketplace. Prerequisite: MATH530 EBGN572 INTERNATIONAL BUSINESS STRATEGY- International business has grown rapidly in recent decades due to technological expansion, liberalization of government policies on trade and resource movements. Due to these factors, foreign countries increasingly are a source of both production and sales for domestic companies. This course is designed to improve students' understanding of the complexities presented by managing businesses in an international environment. Prerequisite: permission of the instructor. EBGN574 INVENTING, PATENTING, & LICENSING (S) EBGN575 ADVANCED MINERAL ASSET VALUATION-The use of stochastic and option pricing techniques in mineral and energy asset valuation. The Hotelling Valuation Principle. The measurement of political risk and its impact on project value. Extensive use of real cases. Prerequisites: MATH111, EBGN311(see notes), EBGN504(see notes), EBGN505(see notes), EBGN509, EBGN510, EBGN511; or permission of instructor. EBGN580 EXPLORATION ECONOMICS-Exploration planning and decision making for oil and gas, and metallic minerals. Risk analysis. Historical trends in exploration activity and productivity. Prerequisites: MATH111, EBGN311(see notes), EBGN509, EBGN510, EBGN511; or permission of instructor. Offered when student demand is sufficient. EBGN585 ENGINEERING AND TECHNOLOGY MANAGEMENT CAPSTONE-This course represents the culmination of the ETM Program. This course is about the strategic management process-how strategies are developed and implemented in organizations. It examines senior management's role in formulating strategy and the role that all an organization's managers play in implementing a well thought out strategy. Among the topics discussed in this course are (1) how different industry conditions support different types of strategies; (2) how industry conditions change and the implication of those changes for strategic management; and (3) how organizations develop and maintain capabilities that lead to sustained competitive advantage. This course consists of learning fundamental concepts associated with strategic management process and competing in a web-based strategic management simulation to support the knowledge that you have developed. Prerequisite: MATH530, EBGN504, or permission of instructor. EBGN590 ECONOMETRICS AND FORECASTING-Using statistical techniques to fit economic models to data. Topics include ordinary least squares and single equation regression models; two-stage least squares and multiple equation econometric models; specification error, serial correlation, heteroskedasticity; distributive lag; applications to mineral commodity markets; hypothesis testing, forecasting with econometric models, time series analysis, and simulation. Prerequisites: MATH111, MATH530(see notes), EBGN509. EBGN 598 Special Topics (scroll down to see current classes) EBGN598A ENTREPRENEURIAL FINANCE. Entrepreneurial activity has been a potent source of innovation and job eneration in the global economy. In the U.S., the majority of new jobs are generated by new entrepreneurial firms. The financial issues confronting entrepreneurial firms are drastically different from those that face established companies. The focus in this course will be on analyzing the unique financial issues which face entrepreneurial firms and to develop a set of skills that has wide applications for such situations.
EBGN598B BUSINESS ETHICS. The business and leadership ethics course is designed to immerse you in organizational ethical decision-making processes, issues, organizational control mechanisms, and benefits of developing comprehensive and due diligence ethics programs. As a business practitioner, most of your activities both inside and outside the organization have ethical dimensions. Particularly, many business functions represent boundary spanning roles between the organization and outside constituents and as such present challenges in the areas of: honesty and fairness, deceptive advertising, price fixing and anti-trust, product misrepresentation and liability, billing issues, etc. EBGN599 INDEPENDENT STUDY/SPECIAL TOPICS-Individual research or special problem projects supervised by a faculty member when a student and instructor agree on a subject matter, content, and credit hours. EBGN610 ADVANCED NATURAL RESOURCE ECONOMICS-Optimal resource use in a dynamic context using mathematical programming, optimal control theory and game theory. Constrained optimization techniquesare used to evaluate the impact of capital constrainsts, exploration activity and environmental regulations. Offered when student demand is sufficient. Prerequisites: MATH111, MATH530(see notes), EBGN311(see notes), EBGN509, EBGN510, Recommended EBGN511; or permission of instructor. EBGN611 ADVANCED MICROECONOMICS-A second graduate course in microeconomics, emphasizing state-of-the-art theoretical and mathematical developments. Topics include consumer theory, production theory and the use of game theoretic and dynamic optimization tools. Prerequisites: MATH111, MATH530(see notes), EBGN311(see notes), EBGN509, EBGN511; or permission of instructor. Back to top EBGN690 ADVANCED ECONOMETRICS-A second course in econometrics. Compared to EBGN590, this course provides a more theoretical and mathematical understand of econometrics. Matrix algebra is used and model construction and hypothesis testing are emphasized rather than forecasting. Prerequisites: MATH111, MATH530(see notes), EBGN311(see notes), EBGN509, EBGN590; or permission of instructor. Recommended: EBGN511. EBGN695 RESEARCH METHODOLOGY-Lectures provide an overview of methods used in economic research relating to EPP and QBA/OR dissertations in Mineral Economics and information on how to carry out research and present research results. Students will be required to write and present a research paper that will be submitted for publication. It is expected that this paper will lead to a Ph.D. dissertation proposal. It is a good idea for students to start thinking about potential dissertation topic areas as they study for their qualifier. Ph.D. students must receive a grade ofan "A" in this course. This course is also recommended for students writing Master's thesis or who want guidance in doing independent research relating to the economics and business aspects of energy, minerals and related environmental and technological topics. Prerequisites: MATH530(see notes), EBGN509, EBGN510, EBGN511, EBGN590; or permission of instructor. EBGN698 SPECIAL TOPICS IN ECONOMICS AND BUSINESS-Pilot course or special topics course. Topics chosen from special interests of instructor(s) and student(s). Usually the course is offered only once. EBGN699 INDEPENDENT STUDY-Individual research or special problem projects supervised by a faculty member when a student and instructor agree on a subject matter, content, and credit hours. EBGN701 GRADUATE THESIS: MASTER OF SCIENCE- Preparation of the Master's thesis under the supervision of the graduate student's advisory committee. EBGN703 GRADUATE THESIS: DOCTOR OF PHILOSOPHY- Preparation of the doctoral thesis under the supervision of the graduate student's advisory committee. Notes: 1. MATH323 may be substituted for MATH530. 2. EBGN305 and EBGN 306 together may be substituted for EBGN 505 with permission. 3. EBGN321 may be substituted for EBGN504
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