ࡱ>  kbjbjQFQF 43,3,gch8S7LNj%!(M!M!M!("$%d_NaNaNaNaNaNaN$JQSN%("("%%NM!M!Nx.x.x.%4M!M!_Nx.%_Nx.x.6FHM!0S*)FKNN0NGT+zT8HHTH%%x.%%%%%NNx.%%%N%%%%T%%%%%%%%% : San Jos State University Economics Department Econ 158, Economics of Entrepreneurship, Sec 1, SP 15 Course Code - 27739 Instructor:John EstillOffice Location:DMH 214Telephone:408-924-5411Email: HYPERLINK "mailto:John.Estill@sjsu.edu" John.Estill@sjsu.eduOffice Hours:Tuesdays 1:00 2:45 pm and by appointmentClass Days/Time:Tuesdays, 6 to 8:45 pmClassroom:DMH 358Prerequisites:Econ 1A and Econ 1BAnnouncement This is a four-unit course.At 91, students are expected to spend two hours outside of class for every one hour of class time. In this four-unit class, you can expect to spend, on average,twelve hours per weekin class and on scheduled tutorials or activities during a regular semester. These assignments include readings, presentations, analyses, online discussion group comments, and the $100 Innovation Project. Careful time management will help you keep up with readings and assignments and enable you to be successful in all of your courses. Description of changes The new, 4-unit Econ 158 has been modified to include more material. This extra material includes producing a One Hundred Dollar Innovation. Using the insights discovered in class, students working individually or in groups, will create an innovation that they will market by the end of the semester. They can spend no more than $100. Creating and marketing this innovation will include among other things a formal business plan, discussions and written reports with legal, accounting, marketing, software, and other consultants as necessary, the creation of a business website, and a final presentation to the class at the end of the semester. Course and Program Learning Outcomes (CLOs and PLOs): Upon successful completion of this course students will be able to demonstrate the following: This course touches on the full range of our BA/BS PLOs, but emphasizes the following: PLO 4. Identify the role of the entrepreneur in a market economy (Area specialty) PLO 5. Through a written report and presentation, demonstrate understanding of various components of entrepreneurial activity in practice (Communication) CLO 1: Apply economic reasoning as it relates to policies impacting entrepreneurship. CLO 2: Explain the impact of various institutions on entrepreneurial activity in the short run and long run. CLO 3: Evaluate various public policies for their effect on entrepreneurial activity Three particular assignments will be evaluated to measure how successfully students accomplish these learning outcomes. Among other assignments, students will complete one oral presentation, one written assignment, and one project with multiple elements (NEW). The first two assignments involve identifying and describing three policy elements within the readings that have been said to encourage or discourage entrepreneurial activity. To do well on these assignments, students will have to comprehend the channels by which various government and institutional arrangements affect entrepreneurship and innovation and communicate these effectively in both oral and written presentations. The final assignment is a project that requires students to apply these lessons by creating an innovation and presenting it to the class on the final regular day of class. Course Description Examines how economists have approached the phenomenon of entrepreneurship, from its behavioral foundations to its effects on economic growth and progress. Explores the role of entrepreneurship in theory and policy, and emphasizes its cultural, legal, and political determinants. Required Textbook/Readings Textbook Harper, David A. 2007. Foundations of Entrepreneurship and Economic Development. London: Routledge. ISBN-13: 978-0415459204. Other Readings See Course Outline and References for other required readings. Classroom Protocol On time attendance is required and your grade depends on verbal and written analysis of the primary and supplemental readings. The suggested readings may require several rereads. Plan your schedule accordingly. This course combines the theoretical understanding of readings with real skills in debate. Understanding the readings is important, but not sufficient. The additional goal of this class is to apply and communicate ideas to effectively to others. University Policies General Expectations, Rights and Responsibilities of the Student As members of the academic community, students accept both the rights and responsibilities incumbent upon all members of the institution. Students are encouraged to familiarize themselves with 91s policies and practices pertaining to the procedures to follow if and when questions or concerns about a class arises. See  HYPERLINK "http://www.sjsu.edu/senate/docs/S90-5.pdf" University Policy S905 at http://www.sjsu.edu/senate/docs/S90-5.pdf. More detailed information on a variety of related topics is available in the  HYPERLINK "http://info.sjsu.edu/web-dbgen/narr/catalog/rec-12234.12506.html" 91 catalog, at http://info.sjsu.edu/web-dbgen/narr/catalog/rec-12234.12506.html. In general, it is recommended that students begin by seeking clarification or discussing concerns with their instructor. If such conversation is not possible, or if it does not serve to address the issue, it is recommended that the student contact the Department Chair as a next step. Ground Rules for Class: Classes may feature group discourse. Please maintain proper decorum: no interruptions, disruptive talking, offensive language, and/or other improper conduct. No beeping please. Turn off cell phones, pagers, and other electronic devices. Laptop computers and audio recorders are okay. Headphones are not. Please do not browse the web, TM, IM, or otherwise communicate to the outside world during class. Your use of a laptop in this course gives me permission to randomly call on you to answer a question from your seat or from the front of the class. If you must leave early, please do so from the back of the class with as little disruption as possible. iClickers I will be using the iClicker student response system in class this term. iClicker helps me to understand what you know and gives everyone a chance to participate in class. I will use iClicker to keep track of participation which represents 10% of your final grade. Device Options: You will have several options available to participate in iClicker sessions: iClicker GO (FREE): Allows you to use your smart phone, tablet, or even laptop in class as a clicker to participate. iClicker Remote ($6.99): You can request to borrow an iClicker remote from eCampus ( HYPERLINK "mailto:eCampus@sjsu.edu" \t "_blank" eCampus@sjsu.edu) but must pay a $6.99 registration fee to iClicker for the semester. Remotes are to be returned to eCampus at the end of the semester. How to Request iClicker GO (smart phone, tablet, and laptop users) Please visit HYPERLINK "http://tinyurl.com/l8yk5ns" \t "_blank" http://tinyurl.com/l8yk5nsand fill out the request form for iClicker GO. You will be contacted by eCampus with further instructions How to Request an iClicker Remote Send an email to HYPERLINK "mailto:eCampus@sjsu.edu" \t "_blank" eCampus@sjsu.eduand request to loan an iClicker remote. Further instructions will be provided to you by the department on how to pay the $6.99 registration fee. Cheating I consider bringing a fellow students iClicker to class to be cheating and a violation of the University Honor Code. If you are caught with a remote other than your own or have votes in a class that you did not attend, you will forfeit all clicker points and may face additional disciplinary action. Assignments and Grading Policy Your numerical grade will be based on the following categories and weights: Class presentation Written Analysis Quizzes and participation 10% 10% 10%Exam 120%Exam 220%Final Exam20%Class Project10% Exams and quizzes may consist of multiple choice, short answer, graphical, and essay questions. Quizzes will be at the beginning of each new reading and will cover material in the readings assigned for that day. The Final Exam will be comprehensive. The analysis assignments will consist of a 3-4 page analysis of a reading that includes a summary of the critical points, emphasis on the three most important ideas, and an analysis of the implication of these ideas for entrepreneurship. The $100 Innovation Project will be graded based on a preliminary business plan (20%), the final business plan (20%), the engagement of the website (20%), an)d the quality of the final presentation (20%) which will be no longer than 10 minutes and the overall quality of the project (20%),. This element of the course is worth 10% of your grade. I do not use a grading curve. Your final numerical grade will be the weighted average of your scores in the above categories, and your corresponding letter grade will be assigned as follows: 100-98 A+, 98-92 A, 92-90 A-, 90-88 B+, 88-82 B, 82-80 B, 80-78 C+, 78-72 C, 72-70 C-, 70-68 D+, 68-62 D, 62-60 D, less than 60 F. University Policies Academic integrity Your commitment as a student to learning is evidenced by your enrollment at San Jose State University. The  HYPERLINK "http://www.sjsu.edu/senate/S07-2.htm" Universitys Academic Integrity policy, located at http://www.sjsu.edu/senate/S07-2.htm, requires you to be honest in all your academic course work. Faculty members are required to report all infractions to the office of Student Conduct and Ethical Development. The  HYPERLINK "http://www.sjsu.edu/studentconduct/" Student Conduct and Ethical Development website is available at http://www.sjsu.edu/studentconduct/. Instances of academic dishonesty will not be tolerated. Cheating on exams or plagiarism (presenting the work of another as your own, or the use of another persons ideas without giving proper credit) will result in a failing grade and sanctions by the University. For this class, all assignments are to be completed by the individual student unless otherwise specified. If you would like to include your assignment or any material you have submitted, or plan to submit for another class, please note that 91s Academic Policy S07-2 requires approval of instructors. Campus Policy in Compliance with the American Disabilities Act If you need course adaptations or accommodations because of a disability, or if you need to make special arrangements in case the building must be evacuated, please make an appointment with me as soon as possible, or see me during office hours.  HYPERLINK "http://www.sjsu.edu/president/docs/directives/PD_1997-03.pdf" Presidential Directive 97-03 at http://www.sjsu.edu/president/docs/directives/PD_1997-03.pdf requires that students with disabilities requesting accommodations must register with the  HYPERLINK "http://www.sjsu.edu/aec" Accessible Education Center (AEC) at http://www.sjsu.edu/aec to establish a record of their disability. Dropping and Adding Students are responsible for understanding the policies and procedures about add/drop, grade forgiveness, etc. Refer to the current semesters  HYPERLINK "http://info.sjsu.edu/static/catalog/policies.html" Catalog Policies section at http://info.sjsu.edu/static/catalog/policies.html. Add/drop deadlines can be found on the current academic year calendars document on the  HYPERLINK "http://www.sjsu.edu/provost/services/academic_calendars/" Academic Calendars webpage at http://www.sjsu.edu/provost/services/academic_calendars/. The  HYPERLINK "http://www.sjsu.edu/aars/policies/latedrops/policy/" Late Drop Policy is available at http://www.sjsu.edu/aars/policies/latedrops/policy/. Students should be aware of the current deadlines and penalties for dropping classes. Information about the latest changes and news is available at the  HYPERLINK "http://www.sjsu.edu/advising/" Advising Hub at  HYPERLINK "http://www.sjsu.edu/advising/" http://www.sjsu.edu/advising/. Consent for Recording of Class and Public Sharing of Instructor Material  HYPERLINK "http://www.sjsu.edu/senate/docs/S12-7.pdf" University Policy S12-7, http://www.sjsu.edu/senate/docs/S12-7.pdf, requires students to obtain instructors permission to record the course and the following items to be included in the syllabus: Common courtesy and professional behavior dictate that you notify someone when you are recording him/her. You must obtain the instructors permission to make audio or video recordings in this class. Such permission allows the recordings to be used for your private, study purposes only. The recordings are the intellectual property of the instructor; you have not been given any rights to reproduce or distribute the material. Students are welcome and encouraged to record material from this class. Quizzes and exams may not be copied or recorded. Other students material may only be recorded with the creator(s) permission. In classes where active participation of students or guests may be on the recording, permission of those students or guests should be obtained as well. Course material developed by the instructor is the intellectual property of the instructor and cannot be shared publicly without his/her approval. You may not publicly share or upload instructor generated material for this course such as exam questions, lecture notes, or homework solutions without instructor consent. Workload Expectations HYPERLINK "../../../../AppData/Local/Microsoft/Windows/Downloads/Academic Policy S12-3"Academic Policy S12-3 at http://www.sjsu.edu/senate/S12-3.htm has defined expected student workload as follows: Success in this course is based on the expectation that students will spend, for each unit of credit, a minimum of forty-five hours over the length of the course (normally 3 hours per unit per week with 1 of the hours used for lecture) for instruction or preparation/ studying or course related activities including but not limited tointernships, labs, clinical practica. Other course structures will have equivalent workload expectations as described in the syllabus. Student Technology Resources Computer labs for student use are available in the  HYPERLINK "http://www.sjsu.edu/at/asc/" Academic Success Center at http://www.sjsu.edu/at/asc/ located on the 1st floor of Clark Hall and in the Associated Students Lab on the 2nd floor of the Student Union. Additional computer labs may be available in your department/college. Computers are also available in the Martin Luther King Library. A wide variety of audio-visual equipment is available for student checkout from Media Services located in IRC 112. These items include DV and HD digital camcorders; digital still cameras; video, slide and overhead projectors; DVD, CD, and audiotape players; sound systems, wireless microphones, projection screens and monitors. 91 Peer Connections Peer Connections, a campus-wide resource for mentoring and tutoring, strives to inspire students to develop their potential as independent learners while they learn to successfully navigate through their university experience. You are encouraged to take advantage of their services which include course-content based tutoring, enhanced study and time management skills, more effective critical thinking strategies, decision making and problem-solving abilities, and campus resource referrals. In addition to offering small group, individual, and drop-in tutoring for a number of undergraduate courses, consultation with mentors is available on a drop-in or by appointment basis. Workshops are offered on a wide variety of topics including preparing for the Writing Skills Test (WST), improving your learning and memory, alleviating procrastination, surviving your first semester at 91, and other related topics. A computer lab and study space are also available for student use in Room 600 of Student Services Center (SSC). Peer Connections is located in three locations: SSC, Room 600 (10th Street Garage on the corner of 10th and San Fernando Street), at the 1st floor entrance of Clark Hall, and in the Living Learning Center (LLC) in Campus Village Housing Building B. Visit  HYPERLINK "http://peerconnections.sjsu.edu" Peer Connections website at http://peerconnections.sjsu.edu for more information. 91 Writing Center The 91 Writing Center is located in Clark Hall, Suite 126. All Writing Specialists have gone through a rigorous hiring process, and they are well trained to assist all students at all levels within all disciplines to become better writers. In addition to one-on-one tutoring services, the Writing Center also offers workshops every semester on a variety of writing topics. To make an appointment or to refer to the numerous online resources offered through the Writing Center, visit the  HYPERLINK "http://www.sjsu.edu/writingcenter" Writing Center website at http://www.sjsu.edu/writingcenter. For additional resources and updated information, follow the Writing Center on Twitter and become a fan of the 91 Writing Center on Facebook. (Note: You need to have a QR Reader to scan this code.)  91 Counseling Services The 91 Counseling Services is located on the corner of 7th Street and San Fernando Street, in Room 201, Administration Building. Professional psychologists, social workers, and counselors are available to provide consultations on issues of student mental health, campus climate or psychological and academic issues on an individual, couple, or group basis. To schedule an appointment or learn more information, visit  HYPERLINK "http://www.sjsu.edu/counseling" Counseling Services website at http://www.sjsu.edu/counseling. Econ 158 / Economics of Entrepreneurship, SP 2015 Course Schedule We will use this as a guideline, so it is subject to change with sufficient notice. Supplemental readings may be added during the semester. Be prepared to discuss the readings on the assigned dates. Note the reading assignments line up with the date due. WeekDatesTopicReading Assignments (notes)101-27Introduction Austrian EconomicsHarper - Ch. 1 The Austrian School202-03The Theory of Entrepreneurial DiscoveryThe Use of Knowledge in Society and Competition as a Discovery Procedure The Tacit Dimension302-10The Theory of Entrepreneurial Discovery (cont.)Cosmos and Taxis Harper Ch 2402-17The Theory of Entrepreneurial Discovery (cont)Capitalism, Socialism and Democracy - Ch 6 & 7 Competition and Entrepreneurship Ch 1 & 2 (select) 502-24The Psychological Determinants of Entrepreneurial Alertness ReviewHarper Ch. 3 Exam 1 Review 603-03EXAM 1 InstitutionsExam 1 Constrained and Unconstrained Visions703-10Institutions (cont) Institutions I: Rule of Law, Property, and ContractThe Law Harper Ch. 4 Rough draft initial innovation business plans due803-17The Entrepreneurial Experience #1 Institutions II: Money, Political, & LegalGuest Lecturer Harper Ch. 5 Project website available to student and instructor903-24 SPRING BREAK No School 1003-31CEASAR CHAVES DAY No School 1104-07 The Entrepreneurial Experience #2 Culture and AlertnessGuest Lecturer Harper Ch. 6 1204-14The Entrepreneurial Experience #3 The Market Process Approach to Public Policy IGuest Lecturer Harper - Ch. 7, pages 171-1941304-21 The Entrepreneurial Experience #4 The Market Process Approach to Public Policy IIGuest Lecturer Harper - Ch. 7, pages 195-2111404-28 The Entrepreneurial Experience #5 Empirical Testing and Conceptual Development Guest Lecturer Harper Ch. 8 Full report on innovation including consultants1505-05Empirical Testing and Conceptual Development ReviewThe Promise of Entrepreneurship as a Field of Research Exam 2 Review 1605-12EXAM 2 The 10,000 Hour RuleExam 2 Outliers, the Story of Success- Ch. 21705-19 FINAL EXAM - Innovation Presentations Tuesday, 5:15 7:30 p.m., DMH 358References to Required and Supplemental Readings Bastiat, F. 1998. The Law. Irvington-on-Hudson, NY: Foundation for Economic Education. Baumol, W. J. 1989. Entrepreneurship in economic theory. American Economic Review Papers and Proceedings: 64-71. Ellig, J. 2001. Dynamic competition and public policy. New York: Cambridge University Press. Gladwell, M. 2008. Outliers: The Story of Success. New York : Little, Brown and Co. Harper, D. A. 2007. Foundations of Entrepreneurship and Economic Development. London: Routledge. Hayek, F.A. 1945. The use of knowledge in society. American Economic Review, 35: 519-530. Hayek, F.A. 2002. Competition as a discovery procedure. The Quarterly Journal of Austrian Economics, Vol 5, No. 3, pp. 9-23. (Translation from German of Hayeks 1968 lecture Der Wettbewerb als Entdeckungsverfahren, at the University of Kiel.) Hayek, F.A. 1973. Law, Legislation and Liberty. Chicago: University of Chicago Press. Holcombe, R. 2006. Entrepreneurship and economic progress. New York: Routledge. Kirzner, I. 1973. Competition and Entrepreneurship. Chicago: University of Chicago Press. Polanyi, M. 2009. The Tacit Dimension. Chicago: University of Chicago Press. Schumpeter, J. 1934. Capitalism, socialism, and democracy. New York: Harper & Row. Shane, Scott and S. Venkataraman. 2000. The Promise of Enterpreneurship as a Field of Research. The Academy of Management Review, Vol. 25, No. 1, pp. 217-226. Acemoglu, Daron, Johnson, Simon, and Robinson, James. 2004. Institutions as the fundamental cause of long-run growth. NBER working paper no. 10481. Sowell, Thomas. 1987. A Conflict of Visions. New York: William Morrow and Co. Additional References (Contributions from Economics) Acs, Z., & Audretsch, D. 1987. Innovation, market structure, and firm size. Review of Economics and Statistics, 71: 567-574. Arrow, K. 1962. Economic welfare and the allocation of resources for invention. In R. Nelson (Ed.), The rate and direction of inventive activity: Economic and social factors: 609-626. Princeton, NJ: Princeton University Press. Audretsch, D. 1991. New firm survival and the technological regime. Review of Economics and Statistics, 68: 520-526. Baumol, W. 1993. Formal entrepreneurship theory in economics: Existence and bounds. Journal of Business Venturing, 8: 197-210. Baumol, W. 1996. Entrepreneurship, management, and the structure of payoffs. Cambridge, MA: MIT Press. Becker, G., & Murphy, K. 1992. The division of labor, coordination costs, and knowledge. Quarterly Journal of Economics, 107: 1137-1160. Casson, M. 1982. The Entrepreneur. Totowa, NJ: Barnes & Noble Books. Caves, R. 1998. Industrial organization and new findings on the turnover and mobility of firms. Journal of Economic Literature, 36: 1947-1982. Cohen, W., & Levin, R. 1989. Empirical studies of innovation and market structure. In R. Schmalensee & R. Willig (Eds.), Handbook of industrial organization, vol. II: 1060- 1107. New York: Elsevier. Dunne, T., Roberts, M., & Samuelson, L. 1988. Patterns of firm entry and exit in U.S. manufacturing industries. Rand Journal of Economics, 19: 495-515. Evans, D., & Leighton, L. 1989. Some empirical aspects of entrepreneurship. American Economic Review, 79: 519-535. Geroski, P. 1995. What do we know about entry? International Journal of Industrial Organization, 13: 421-440. Gort, M., & Klepper, S. 1982. Time paths in the diffusion of product innovations. Economic Journal, 92: 630-653. Khilstrom, R., & Laffont, J. 1979. A general equilibrium entrepreneurial theory of firm formation based on risk aversion. Journal of Political Economy, 87: 719-748. Kirzner, I. 1997. Entrepreneurial discovery and the competitive market process: An Austrian approach. Journal of Economic Literature, 35: 60-85. Knight, F. 1921. Risk, Uncertainty and Profit. New York: Augustus Kelley. Mise, Ludwig von 1998 (reprinted from 1949). Human Action. Auburn, AL: The Ludwig von Mises Institute. Schubarth, Cromwell 2014. Why do startups fail? Here are the top 20 reasons. The Silicon Valley Business Journal, 9/25/1014. Available at :http://www.bizjournals.com/sanjose/news/2014/09/25/why-do-startups-fail-here-are-top-20-reasons.html Editorial Staff 2014, Schumpeter: Entrepreneurs anonymous. The Economist, 9/18/2014. Available at http://www.economist.com/news/business/21618816-instead-romanticising-entrepreneurs-people-should-understand-how-hard-their-lives-can Additional References (Contributions from 91 Faculty) Basu, Anuradha and Eser Altinay. 2001. The Interaction between Culture and Entrepreneurship in London's Immigrant Businesses. International Small Business Journal November 2002 vol. 20 no. 4 371-393. Newel, Graham and Matthew Holian. 2011. An agent-based model of entrepreneurship. Working paper. Rangapriya Kannan Narasimhan & Sharon Glazer. 2005. "Nurturing corporate entrepreneurship: A cross-cultural analysis of organizational elements that foster corporate entrepreneurship," International Journal of Entrepreneurship Education. Article. Vol. 3. Issue 1, pp.31-56. Skarbek, Emily. 2011. The Entrepreneur as Expert. Working paper. Related Centers at 91: Silicon Valley Center for Global Innovation and Immigration.  HYPERLINK "http://www.svcgii.sjsu.edu" www.svcgii.sjsu.edu Silicon Valley Center for Entrepreneurship.  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