14.282  Introduction to Organizational Economics

                For 2011-12, we will try a new structure for the doctoral sequence in organizational economics at MIT (14.282, 283, and 284). The chief reason is that the first-year theory sequence does not have time for as much contract theory (in 14.124) as would be useful for 282-4. This leaves two main options: teach additional contract theory in the beginning of 282 or require students in 282-4 to take another course in contract theory either before or during 282-4 (e.g., 14.281). In the past, we have tried variants of each of these options. This year, we are blending them, as follows.

For 282 in Fall 2011, the first half of 281 in Fall 2011 is a prerequisite. That is, students either can take 281 for the first half of the term (during which time 281 will focus on topics that are especially relevant for 282-4) or must have taken an appropriate substitute previously. Throughout the fall, 281 will meet Mondays and Wednesdays from 10:30 to 12:00. There will be a midterm in 281 on October 26 (i.e., the last class during H1) that will contribute to the grade of students taking 282 as a full-semester course.

Of course, students cannot get credit twice for the first half of 281. For example, a student from the MIT Economics Department who chooses Theory and Organizational Economics as minor fields (and chooses 281 as one of their courses for the Theory minor) will need to take two semesters of courses for the OE minor and cannot count the first half of 281 towards the OE minor. The more intensive schedule of 283-4 in the spring will allow 1.5 semesters of OE credit to be accumulated during the spring, complementing the .5 credit for 282 in the fall.

Other scenarios may be more relevant for students from outside the Economics Department. For example, students can receive 1.5 semesters of credit in the fall for taking 281 all term and 282 during H2. (Because 282 is listed as a full-semester course, those seeking 1.5 semesters of credit for 281 and 282 should register for 281 and make other arrangements with Bob for the .5 credit for 282 in H2.) Alternatively, students can receive 1.0 semesters of credit for taking 281 during H1 and 282 during H2; such students should register for 282.