ECO 230 The Mind of the Entrepreneur

The Mind of the Entrepreneur (Economics 230)
Professor Hal Fried

Description:

The objective of this course is to expose students to three perspectives on the role of the entrepreneur in guiding resource allocation in a market economy. The traditional perspective focuses on resource allocation changing over time as the entrepreneur responds to opportunities for economic profit. The psychological perspective examines the personality characteristics of entrepreneurs. The non-traditional perspective explores the implications of the entrepreneur as a creator of demand as well as a supplier of new products.

The psychological makeup of the entrepreneurial personality is important to understand and to study in order to promote the introduction of new products. Income, preferences and self-interest drive the traditional model of resource allocation. This is appropriate under some circumstances and possibly not under others. The non-traditional perspective takes into account the ability of the entrepreneur to manipulate demand as well as supply, in which case the economy fails to respond to the “will of the people” and might not produce what consumer’s want, but rather, what producers want them to want.

You will also live the life of the entrepreneur in this course through projects and outside speakers. Be prepared to stretch outside the familiar. Be forewarned.

Requirements:

This is an interdisciplinary course that is listed in the economics department. Instructors are Hal Fried (economics) and George Bizer (psychology). Economics 101 is a prerequisite. Economics majors who have achieved junior or senior status are not permitted to take this course.

This course is taught on Tuesday and Thursdays from 9:00-10:45AM.