You'll have the chance to explore activities outside the classroom in numerous ways that will also allow you to build new skills, relationships, and networks. These include:
- Managerial Effectiveness Group - The Managerial Effectiveness Group aims to develop better managers and leaders by helping students develop and polish their "soft-skill" repertoire. Management gurus, leading faculty members, senior executives from top firms, and leadership consultants are invited to deliver lectures, conduct skill-building workshops, and network with students interested in furthering their leadership skills.
- Management Conference - For over 55 years, Chicago Booth's Management Conference has combined the very best in conceptual knowledge and academic theory with practical application. Each year, world-renowned Chicago Booth faculty and a diverse gathering of alumni, business leaders, economists, and other professionals discuss the latest groundbreaking business ideas, new perspectives, and research.
- Workshop in the Theory of Organizations - This workshop focuses on advanced research on economics of organizations and theory of the firm, with applications to financial markets and institutions. Research papers are presented by faculty and advanced PhD students, as well as visiting speakers from other universities.
You’ll have the option of taking courses that address your individual career choices. Samples include:
- Strategic Leadership - Success requires two things: being technically competent and being able to effectively manage social relationships. This course combines sociology and economics to introduce general principles of management with an emphasis on how the management of relationships has real and hard outcomes for you, as someone attempting to create value and advance your career. The goal is to provide you with a set of tools that you can use immediately and effectively. The material is approached from the perspective of an entrepreneurial manager/leader trying to get things done. This focuses the discussion on the central task of creating value through coordination: coordinating your personal contacts to diverse groups in an organization, coordinating employees within and between the functional groups in an organization, and coordinating business activities across diverse markets. Principles of social organization indicate how best to coordinate those interests to create value. This course is an introduction to those principles and their application.
- Managerial Decision Making - In some business situations, we can make decisions analytically and "optimally." But more often than not, we do not have the time or the information to engage in analytical decision-making, and we have to rely on our intuition and experiences to resolve important decisions. This course teaches you how to make decisions in both types of situations. With respect to the first type of situation, students will learn analytical tools and how to use them to reach optimal solutions. With respect to the second type of situation, students will discover errors "normal people" often commit when they make decisions intuitively, and how to overcome these errors and thereby become "less normal," namely, smarter than the average person. Many topics covered are based on the Nobel Prize-winning research on behavioral decision theory; it is the foundation of behavioral economics, behavioral marketing, and behavioral finance.
- Strategies and Processes of Negotiation - Managerial success requires agreement and collaboration with other people. This course is designed to be relevant to the broad spectrum of negotiation problems that are faced by managers, and to teach you the skills necessary to discover and implement optimal solutions to these problems. These skills include an understanding of the problem at hand, the other parties involved, the common biases in the judgments and decisions of negotiators, and the effective tactics of social influence.
Managing in Organizations - Business transactions commonly take place among people. Understanding the factors that determine people's actions and interactions is therefore a critical prerequisite for being successful in the work environment. This course is about managing people - oneself and others.
Ethics of Business - The primary aim of this course is to help students define for themselves their own canon of business ethics, one that reflects their experience and is tailored to their professional goals. We will build a vocabulary for talking about business ethics by examining the work of a wide variety of authors - from economists and entrepreneurs to philosophers, journalists, and revolutionaries - all of whom have written about the place of business and the business professional in the modern world.
You’ll study with professors who conduct groundbreaking research, consult with companies, and bring their real-world experience on how to navigate the challenges presented by a complex organization into the classroom.
Eugene M. Caruso
Eugene M. Caruso, associate professor of behavioral science, studies social judgment, group decision making and negotiation, egocentrism, perspective-taking, and ethics. His published work includes "The Costs and Benefits of Undoing Egocentric Responsibility Assessments in Groups" and "When Perspective Taking Increases Taking: Reactive Egoism in Social Interaction," both written with N. Epley and M. H. Bazerman and published in the Journal of Personality and Social Psychology.
Nicholas Epley, John Templeton Keller Professor of Behavioral Science, conducts research on the experimental study of social cognition, perspective taking, and intuitive human judgment. His research has appeared in more than two dozen journals, including the Journal of Personality and Social Psychology, Psychological Science, and the Journal of Experimental Social Psychology. His research also has been featured by the Wall Street Journal, CNN, Wired, and National Public Radio, among many others, and has been funded by the National Science Foundation.
Ayelet Fishbach, Jeffrey Breakenridge Keller Professor of Behavioral Science and Marketing, studies social psychology with specific emphasis on motivation, emotion, and decision making. She is the recipient of several international awards, including the Society of Experimental Social Psychology's Best Dissertation Award and the Fulbright Educational Foundation Award.
Reid Hastie, Robert S. Hamada Professor of Behavioral Science, studies judgment and decision making (managerial, legal, medical, engineering, and personal), memory and cognition, and social psychology. He is best known for his research on legal decision making and on social memory and judgment processes. Hastie is currently studying the role of explanations in inductive judgments, civil jury decision making, and decision-making competencies across the adult lifespan.
Wilhelm Hofmann, assistant professor of behavioral science, studies social and personality psychology, with a special emphasis on self-regulation and consumer, health, and moral decision making. “I am intrigued by the question of why people sometimes (and some more often) act against their better judgments and intentions. The problem of self-control is not only fascinating from a theoretical perspective, it has huge implications for how we life our everyday lives.” says Hofmann.
Christopher K. Hsee
Christopher K. Hsee, Theodore O. Yntema Professor of Behavioral Science and Marketing, conducts research on the interplay between psychology and economics, happiness, marketing, and cross-cultural psychology. He serves or has served on the editorial boards of several academic journals, including the Journal of Marketing Research, Organizational Behavior and Human Decision Processes, Journal of Behavior Decision Making, and Management and Organization Review.
Devin G. Pope
Devin G. Pope, associate professor of behavioral science and Robert King Steel Faculty Fellow, studies a variety of topics at the intersection of economics and psychology. He has published work in the American Economic Review, Management Science, Psychological Science, Journal of Human Resources, and the Journal of Economic Perspectives among others.
Jane L. Risen
Jane L. Risen, associate professor of behavioral science, conducts research in the areas of judgment and decision making, intuitive belief formation, magical thinking, stereotyping and prejudice, and managing emotion.
Anuj K. Shah
Anuj K. Shah, assistant professor of behavioral science, studies how people make decisions when resources are scarce. In one line of work, he focuses on the psychology that arises when people experience scarcity of more tangible resources, such as money or time. In another line of work, he focuses on how people make decisions with limited cognitive resources.
Richard H. Thaler
Richard H. Thaler, Ralph and Dorothy Keller Distinguished Service Professor of Behavioral Science and Economics, studies behavioral economics and finance as well as the psychology of decision making, which lies in the gap between economics and psychology. His latest book, Nudge, has found favor in influencing political thinkers in both the United States and England.
Bernd Wittenbrink, professor of behavioral science, is interested in the psychology of person perception and social judgment, specifically the impact that stereotypes and group attitudes may have on people's decisions and behaviors. His research has been published in the Journal of Personality and Social Psychology, the Journal of Experimental Social Psychology, and Social Cognition. His book on recent developments in attitude measurement, Implicit Measures of Attitudes, coauthored with N. Schwarz, is published by Guilford Press.
George Wu, professor of behavioral science, studies the psychology of individual, managerial, and organizational decision making; decision analysis; and cognitive biases in bargaining and negotiation. Wu is a department editor of Management Science and on numerous other editorial boards, including Decision Analysis, Journal of Behavioral Decision Making, Journal of Risk and Uncertainty, and Theory and Decision.