List of Concentrations

Human Resource Management

In the competitive global marketplace, managing people while working toward business goals involves numerous strategic decisions. Human resource management isn't job postings and benefits - it is the study of how to effectively apply economic principles to a company's human capital to meet strategic goals.

At Chicago Booth, you'll learn how to use economics and strategy to harness the value of human resources in the production of goods and services. By looking at such topics as the supply and demand of the labor markets, the state of world economies, the future of labor costs, how incentives operate, substitutes for labor, and other economic concepts, you will gain the frameworks needed to make effective management decisions: How do you attract good workers? Who should you hire? How should you compensate them? How do you measure and maximize their performance? You'll also explore how information flows within a company so that it reaches decision makers and increases productivity.

COCURRICULAR ACTIVITIES
COURSE SAMPLING
FACULTY SAMPLING

COCURRICULAR ACTIVITIES
You'll have the chance to explore operations outside the classroom in numerous ways that will also allow you to build new skills, relationships and networks. These include:

The Employment Relationship

Labor accounts for more than half of a typical firm's costs. This course examines the market in which the firm and its workforce interact. The course uses economics, and a discussion of legal institutions to build a deeper understanding of this relationship. In particular, we will discuss discrimination, employment litigation, international trade, outsourcing, off shoring, unions and union organizing activity, minimum wages, overtime, termination and employee benefits. Throughout the course, we will also discuss practical ways to use data to uncover important causal relationships and to distinguish them from correlations.

Managing the Workplace

This course examines foundational topics in human resource management with a focus on coordinating human resource practices and business strategy. Topics covered include employee selection and retention, training and development, performance evaluation, compensation, job design and communications within the firm.

Management, Unions and Collective Bargaining

This course concentrates first on a detailed examination of union organization, contract bargaining, and the exercise of power by unions. Also, we analyze the current debate between "left" and "right" over the nature and effect of our structure of labor law in the U.S. Next, we make an in-depth analysis of the implementation and enforcement of the labor contract with emphasis on the all-important process of labor arbitration. The class surveys more briefly: (a) the growth, decline, government, and philosophy of unions in the U.S.; (b) the unique problems of bargaining in the public sector; and (c) the economic consequences of collective bargaining in the U.S.

COURSE SAMPLING
You’ll have the option of taking courses that address your individual career choices. Samples include:

The Employment Relationship

Managing the Workplace

Management, Unions and Collective Bargaining

FACULTY SAMPLING
You’ll study with professors who conduct groundbreaking research, collaborate with the entrepreneurial and private equity communities, and bring their own entrepreneurial experiences into the classroom.

Canice Prendergast, is widely published, with work appearing in the Economic Journal, the Journal of Labor Economics, the American Economic Review, the Journal of the Japanese and International Economics, and the European Economic Review. Articles on his recent research have appeared in Fortune Magazine, the Financial Times, the Economist, and Der Speigel.