Business Simulation Lab
Teaching
BSL facilities are currently used to teach Johnson School students about financial markets, as an integral part of Professor Robert Bloomfield's "Information in Markets" (NBA 537). This course uses simulations of financial markets to give students first-hand experience of how different types of markets respond to information; how different types of market participants exploit informational advantages (or protect themselves against informational disadvantages); and how regulations on trading and information disclosure affect market behavior and trader wealth. The experiential nature of the course makes it appropriate for a wide range of students, including MBA students who plan to be market professionals, non-business students looking for a good introduction to financial markets, and PhD students in management and economics who wish to see theory in action.
Professor Bloomfield is currently developing a new course, "Information in the Firm." This course uses networked simulations to give students first-hand experience of how firms use managerial information to compete in product markets, manage production processes and provide and respond to incentive plans. The course will be offered in Fall, 2004.
The Cornell Management Game is a computer-based business simulation that involves an ongoing series of strategic decisions related to a hypothetical manufacturing company in a competitive environment. Participants work in (four to six) teams to produce a written strategy (optional) and a series of specific decisions as the simulation progresses. In this setting, participants must decide:
- Which of three products they will manufacture.
- In which of three markets they will sell their products.
- Number of credit sales days they will offer their customers.
- Budgets for advertising and sales representatives.
- Investments in R&D, capacity, and efficiency upgrades.
- Short and long-term borrowing strategies.
- Management of dividends and stock sales/repurchases.
- How changing macroeconomic conditions will affect their decisions
The Cornell Management Game is used to teach Johnson School MBAs, Executive MBAs, and executives at private companies as part of customized Executive Education Programs.
The Visiting Scholars Program
The Business Simulation Lab has openings for visiting scholars. These positions, which usually last for one or two semesters, allow doctoral and post-doctoral students to study and conduct research with BSL faculty. Stipends for visiting scholars are typically covered by the student's current institution, or by a third-party grant (e.g., a Fulbright scholarship.) People interest in a visiting scholars program should contact Robert Bloomfield (rjb9@cornell.edu).
