Doctoral students select two minor areas of concentration in addition to their primary field. Behavioral science, managerial economics, and quantitative analysis are offered at Johnson as secondary fields, but they are only three of many available at Cornell.
Behavioral science encompasses the behavioral research components of accounting, economics, finance, and marketing, and focuses on decision making as an activity both central and common to those disciplines. Empirical findings have challenged idealized models of optimal decision making, revealing instead the forces of compromise, distortion, and emotion, and even the superficial aspects of how decisions are presented or "framed." New research aims at developing descriptive models of decision making, designing aids to improve decisions, and applying the results of basic research to functional areas. Behavioral science requires training in cognitive and social psychology as well as in microeconomics. It is common to combine a minor in behavioral decision research with study in accounting, economics, finance, marketing, and management information systems. There are affiliated faculty members in Cornell's Departments of Economics and Psychology as well as at Johnson. The Center for Behavioral Economics and Decision Research provides an organizational focus for behavioral science faculty members and doctoral students.
Faculty: Robert Libby, Kathleen M. O'Connor, J. Edward Russo
Selected Journals: Journal of Behavioral Decision Making, Journal of Experimental Psychology, Journal of Economic Behavior and Organizations
Managerial economics concentrates on economic analysis for decision making. A candidate may study the problems of a total economy, of industries, or of a firm. He or she may concentrate on such areas as industrial organization, econometrics, regulation, strategic analysis, international economics, economic development, business-government relations, or investment analysis. Study in managerial economics requires a thorough grasp of relevant economic theory and institutions and a basic understanding of both qualitative and quantitative analysis. Some of the course work in the area is taken in Cornell's Departments departments of Economics and Agricultural Economics. Cornell also offers PhD degrees in economics in the College of Agriculture and Life Sciences and through the Department of Economics in the College of Arts and Sciences. If you are interested in economics, you should consider all three of these possibilities. The successful applicant to the Johnson program will be able to explain why his or her interests are most appropriate to the economics program in a school of management. This field is more often chosen as a minor field than a major field.
Faculty: Robert H. Frank, Ori Heffetz, Justin Johnson, Vrinda Kadiyali, Alan K. McAdams, Maureen O'Hara, Henry Schneider, Michael Waldman
Selected Journals: American Economic Review, Econometrica, Rand Journal of Economics
Quantitative Analysis for Administration
Quantitative analysis for administration stresses modern developments in the uses of mathematical and statistical tools and computer technology for the solution of managerial problems. A high level of mathematical competence is essential. Some of the course work is taken in such fields as operations research, statistics, computer science, and mathematics.
Faculty: Daniel P. Huttenlocher, Levent Orman, Vithala Rao, L. Joseph Thomas
Selected Journals: Management Science