16 courses with the subject eCornell CORE, each shown exactly as we captured it from the college's catalog, with every element we hold. Where the wording looks broken, that is our reading of the catalog, not the college's text.
eCornell CORE101Examining Scarcity and Opportunity Cost0
Regardless of your specific area of work, as a manager, it will be imperative for you to understand the incentives that people face and how they are likely to respond when constraints change. A solid foundation of microeconomics will give you a competitive advantage. It will help you answer critical management questions such as: Should we expand our capacity? Should we add more staff? How can you figure those things out? In this course, you will begin with a cornerstone of microeconomics: opportunity cost. You will examine its definition as well as applications and explore the hidden cost fallacy, the fixed cost fallacy, and the cost-benefit principle. A good understanding of opportunity cost will help you understand how these principles relate to changes in human behavior and drive decisions. You will examine key concepts of supply and demand and the ways in which they affect business decisions. You will also complete a project in which you apply these concepts to practical questions facing your workplace. You will examine the profit maximizing output rule for producers, define the first law of supply, examine the price elasticity of supply, and define the supply ceteris paribus conditions. You will define the consumer surplus maximizing rule for demanders, the first law of demand, the price elasticity of demand, and the demand ceteris paribus conditions. This course will set the foundation for your microeconomics studies.
While a thorough understanding of supply and demand is essential in microeconomics, you also need to delve into the factors that determine price and how the markets reach levels of equilibrium. In this course, you will examine what determines equilibrium price and quantity, gains from trade, and how changes in the supply and demand ceteris paribus conditions affect equilibrium price and quantity. You will explore critical questions related to government intervention in markets, and finally, tie these concepts into an overarching graded course project in which you will apply the lessons to relevant concerns facing your industry or organization. This course prepares you to not only understand the relationship between the factors affecting equilibrium price and quantity, but also apply these factors to your decision making for your organization. The course Examining Scarcity and Opportunity Cost is required to be completed prior to starting this course.
eCornell CORE103Conducting Market Analysis and Predicting Price0
To effectively lead the decision making of an organization, you will need to understand how we can use models of the labor market, the loan market, and currency market to predict changes in prices and quantities. In this course, you will familiarize yourself with an extension of the model to the labor market, loan market, and currency market. You will investigate relevant concepts that can allow you to make predictions about how prices and quantities will change when market conditions fluctuate, exploring some circumstances in which the market equilibrium is not efficient. You will then develop a model of production using a single variable input. From this model, you will determine how to derive the average and marginal costs curves. Finally, you will complete a graded course project in three parts in which you will apply these relevant course concepts to practical concerns in your firm or industry. This course will leave you prepared to analyze a imperfect market and apply those concepts to the decisions made at your organization. The courses Examining Scarcity and Opportunity Cost and Analyzing Price and Equilibrium are required to be completed prior to starting this course.
In this course you will examine the model of perfect competition and how it can be used to make business decisions. You will utilize this model of perfect competition to analyze both the short-run and long-run equilibriums and the impacts they can have on your organization. You will explore how firms have access to a multitude of specialized input that are limited and how those can be exploited for the benefit of your organization. Lastly, you will analyze two significant questions: Who in particular will reap the rewards when there are profits? And how large will the profits be? Finally, you will complete a graded project in which you draw relevant conclusions related to perfect competition and your firm. These courses are required to be completed prior to starting this course: Examining Scarcity and Opportunity Cost Analyzing Price and Equilibrium Conducting Market Analysis and Predicting Price
eCornell CORE105Comparing Monopolies and Competition0
Imagine that a firm is the sole producer in a market, i.e., a monopolist. How does the monopolist behave? How does that behavior differ from the case of a firm in perfect competition? In this course, you will examine how the monopolist behaves. You will examine the cost structure that results in a natural monopoly and the choices that firms put into making pricing decisions in these contexts. Finally, you will analyze a model of monopolistic competition between firms and consider how they fight to reduce new firms from entering their industry. Throughout exploring these new definitions and models, you will work on a course project that will help contextualize these concepts into your life and work. These courses are required to be completed prior to starting this course: Examining Scarcity and Opportunity Cost Analyzing Price and Equilibrium Conducting Market Analysis and Predicting Price Modeling Perfect Competition
eCornell CORE111Foundations of Financial Statements0
This course provides a foundation in financial accounting and examines the expansion of the field as it relates to the evolution of business' accounting needs. Students will be able to speak intelligently about accounting entities, assets, and claims, along with how they are represented on an income statement and balance sheet. It then examines the application of financial statement ratios and the ways in which data can be utilized for the internal and external evaluation of a company's financial position, performance, and prospects. Students will apply financial statement ratios to analyze how profit is generated and make determinations on a company's liquidity and solvency. Finally, this course will look at non-profit organizations and the implications of restricted funds versus for-profit companies and unrestricted funds.
This course will help you distinguish between credits and debits while examining the pros and cons of cash-basis accounting versus accrual accounting. You will use the basic steps of the accounting process to make balancing account entries for a variety of transactions. You will consider the ethical side of accounting: why promises matter and how that translates to accruals, adjusting closing entries, ensuring the accuracy of your statements, correcting errors and estimates, and what to do when accounting goes wrong. You will examine cash inflows and outflows and then analyze this data to create an accurate depiction of a company's economic reality. This will be crucial information for potential investors, partners, creditors etc. You will know when to use a direct cash flow statement versus an indirect cash flow statement and how to accurately reflect transactions.
This course will enable you to interpret the financial statement line items that capture the most central and important operations of any enterprise: the revenue and other cash inflows earned from customers and the related expenses or losses. It is recommended to only take this course if you have completed Foundations of Financial Statements or Accruals and Cash Flows or have equivalent experience.
eCornell CORE114Investments, Capital and Financial Forecasting0
This course will help you interpret financial statement line items that capture the investments an enterprise makes in its future and claims that long-term investors hold on the enterprise. You will explore the differences between tangible and intangible assets along with the ways in which each can be capitalized and their costs can be allocated to the income statement. You will apply concepts to long-lived assets, such as the "Day Zero" assumption, depreciation (tangible assets), amortization (intangible assets), and cost allocation. Taking this a step further, you will delve into accounting methods used for depreciation and amortization and then look at ways to address impairments, fair value, and the three levels of input. Finally, these concepts will be applied to different aspects of capital such as stocks, bonds, and related valuations. It is recommended to only take this course if you have completed Foundations of Financial Statements or Accruals and Cash Flows or have equivalent experience.
While it is extremely common to hear the word "data" in business today, what is less common is an understanding of how to collect the right data and then apply it to solving business problems. In this course, you will learn foundational concepts in statistics and how to collect and interpret data while applying statistics and statistical thinking to business problems. Additionally, in the practice of business statistics, it is essential to capture accurate data but also to communicate that data clearly and effectively. You will then explore methods of presenting this type of data and try it for yourself. Lastly, it may seem far-fetched to describe numeric values collected during a business day as a story, but when quantitative data is compiled into a visual tool such as a table or graph, it can indeed tell a story about that day's business activity. In this course you will examine how to display quantitative data through tables as well as best practices you should follow to determine which method is the best choice for communicating the data at hand.
eCornell CORE522Descriptive Statistics for Business0
In order to uncover insights in data, it is important to draw conclusions about the population that is being studied using numerical measures. In this course, you will identify various numerical measures including percentiles, range, variance, and standard deviation. You will then see how to visualize and draw conclusions on quantitative or qualitative variables. This course uses tables and charts to compare combinations of variables, identify the means of finding relationships between variables, and teaches you to interpret results and make predictions between variables.
eCornell CORE523Making Predictions Using Statistical Probability0
In order to use data from a sample group to make judgments about an entire population, you will explore probability in order to move toward the area of inferential statistics in this course. You will identify the role of discrete variables, use them in determining probability, find the expected value, and define variance. Additionally, the normal distribution, often called the bell curve, is a practical model for many business measurements, including financial decision making, process variations, and salaries. In this course you will examine the normal distribution and identify how to determine probabilities and percentiles from each of these distributions.
It is often not feasible to capture parameters for an entire population; however, it's necessary to gather statistics to estimate population parameters. In this course, you will walk through the multiple methods of collecting samples and examining margin of error and confidence intervals, including how they are calculated. You will then explore another area of inferential statistics called hypothesis testing to start with a hypothesized value. One of the most important measures to calculate is the p-value, which helps gauge the significance of your findings. You will observe the role that p-values play in hypothesis testing and the way in which they are calculated.
An ever-present need in business is to compare two populations, such as sales of related products, different customer segments, or productivity of factory work shifts, to name a few. In this course, you will examine how to compare two population means. Just as there is a need to look at two populations, the same is true for larger groups. However, the process of comparing three or more population means is significantly different. You will investigate the comparison of multiple means, including the experiment designs to choose from and the three-step process to follow. Additionally, you will explore how hypothesis testing is used to make judgments about a population. Many times, however, comparisons are needed on more than one variable, such as a survey given to two different audiences or a defect caused by different pieces of equipment. Lastly, in this course you will examine tests on two variables, having either two options or multiple options and identify the formulas used in these comparisons.
Forecasting can be found in every corner of the business world today. When done in tandem with accurate time series analysis, it enables sound prediction of future values. In this course, you will explore the use of time series analysis and the four components of time series data. Consider, there are a number of time series that may require forecasting but do not have any discernible trend, such as a stable product environment or a very short timeframe. In this course you will continue exploring forecasting by examining stationary time series and the situations in which they most often occur and practice forecasting techniques and stationary time series analysis. You will then examine stationary data where no substantial change is taking place. Lastly, you will move to data that is changing. A layer of complexity can be added to forecasting in the form of seasonality, where the time series being studied regularly changes with each season. This added element must be considered in any prediction of future periods.
eCornell CORE527Practical Applications of Statistics0
A field in which statistics can play a vital role is quality control. Statistical tools assist in the monitoring and maintenance of product quality. In this course you will explore quality control and how statistical methods are utilized within quality control. You will practice preparation and analysis of charts and determine some additional quality control methods. Additionally, organizations are constantly faced with major strategic decisions. These critical choices are best made using decision analysis tools. Analysis may involve a large number of variables for each item or individual being studied. This type of study, known as multivariate analysis, seeks to shed light on the relationships between all the variables. You will examine several techniques to choose from when undertaking multivariate analysis.
