Enrollment limited to 30 students. Prerequisites: 90-710 Applied Economic Analysis and 90-711 Empirical Methods or 91-801 Data Analysis for Managers and 91-803 Economic Principles of Policy Analysis. Negotiation is a process in which two or more parties make decisions to resolve conflicting interests. Decision makers use negotiation in a variety of circumstances - collective bargaining, negotiating out of court settlements, resolving conflicting interests within or across firms, agreeing on a purchase price for a good, and many other instances. The objective of this course is to understand the process of negotiations and how the structure of the negotiations process affects the outcomes achieved. Students will learn to establish a framework for analyzing various types of negotiations. For example, differences between distributed vs. integrative negotiations and "one shot" vs. repeated negotiations will be examined. Throughout the course, students will participate in negotiation exercises, either individually or in teams. The purpose of these exercises is to demonstrate the concepts which are discussed in class on a more theoretical or abstract level. Please visit the Heinz School's website: www.heinz.cmu.edu for a more detailed description.
