Okay, so many of you know I’m a business major here at Cornell, but the major is officially called Applied Economics and Management or AEM. Sometimes AEM majors get stereotyped as a bunch of party-goers who have an easy major. This is also true for the Hotelies here. I can’t speak for the Hotelies but for the most part this stereotype is NOT true. But most stereotypes have some roots in truth right? Well now I finally understand where this is coming from.
So I’m taking this class called Management Strategy and we’re playing a simulation game played by business school students. It was created by a professor in UC Berkeley and basically each period your team or “firm” can build capacity and specify price and quantity for 4 different markets. Each team has different cost structures and each market has different characteristics.