AboutWarren D. Miller, CFA, ASA, CMA, CPA Expertise My in-depth knowledge of economics is confined to three sub-disciplines: Austrian economics, industrial organization, and evolutionary economics. Other questions dealing with macroeconomics, the traditional neoclassical paradigm, labor economics, environmental economics, agricultural economics, health economics, and so on should go to those who have the appropriate expertise.
N.B.: I DO NOT ANSWER QUESTIONS MARKED 'PRIVATE' because I believe that knowledge should be shared, not hoarded. I also believe that such questions are likely to come those trying to cheat. Similarly, as one who was a full-time academic for half a decade, I can recognize test and homework questions several time zones away. Therefore, please do not demean yourself by submitting such questions to me. Those who do so are cheating, pure and simple, and I WILL call you out publicly if I believe you are doing so. I have a zero-tolerance policy where cheating and dishonesty are concerned.
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Finally, please DO NOT ask for investment advice. I am not licensed to provide such advice. If you want such advice, check with your financial planner or other financial adviser.
Experience I work with Austrian economics (which is different in major respects from the traditional neoclassical model), industrial organization (which is about industry structure, conduct, and performance), and evolutionary economics (almost, but not quite, the economic analog of its biological counterpart) everyday in my work. I appraise closely-held businesses, provide exit-planning services, and offer high-level strategic analysis, advice, and clients to CEOs and owners of mid-sized businesses. Understanding, applying, and writing about these disciplines is an essential part of how I have made my living since 1993.
Organizations CFA Institute, Strategic Management Society, American Society of Appraisers, Institute of Management Accountants, Academy of Management, Culver Legion
Publications CFA Magazine, Strategic Finance, Valuation Strategies, Value Examiner, Journal of Advanced Property Economics, Harvard Business Review, American Fly Fisher, CFA Digest, CPA Expert, and Business Valuation Review, among others
Education/Credentials MBA - Oklahoma State (1991)
BBA - U. of Oklahoma (1975)
Chartered Financial Analyst designation (2006)
Accredited Senior Appraiser (2006)
Certified Management Accountant (1992)
Certified Public Accountant (1992)
Question QUESTION: I need to know that as an MBA what topics will be most suitable for writing a thesis in my Economics course, i have been searching on the Internet and since i carry an IT background so i am finding it extremely difficult to decide on topic related to Economics.
ANSWER: Dear Saima--
I'm glad to try to help you, but I can't do it in a vacuum. In essence--and I don't think you're doing this intentionally--you're asking me to help someone I don't know choose something that fits them like a glove. I'm only mortal, so I cannot do that. It's not "will not" - it's "cannot." No one can.
But God helps those who help themselves, you know. So let's see if we can BOTH work at this and get you some help.
In the first place, I think that your IT background is wonderful. But I also think that it is probably not terribly relevant to finding a thesis topic. That would be like me saying, "Well, I'm a CFA charterholder and a CPA, and I can't find any thesis topic that interests me." Hogwash. I think you should look for a topic that is interesting and IGNORE your IT background. I'm betting that, whatever topic you choose, your IT background will enable you to see it from a different and unusual perspective. And the research related to the topic might even give you ideas for some different ways of doing things in IT.
Second, now that you have that advice, why don't you look around on the internet again and send me no more than three (topics) that you think MIGHT be interesting. Also, have you read any interesting books or papers in your class or your MBA curriculum? If so, please send me the citations.
I expect that, between the three topics and the books/papers, we'll find something that you will really enjoy. But you have to do your share of the work here, and I'm confident that you will.
Best regards--
Warren
---------- FOLLOW-UP ----------
QUESTION: Thank you for your reply I have searched the Internet and came across the topic which might be of my interest can you please tell me are they relevant to subject of Economics and will my thesis be impressive?
1. Brand Economics
2. Economics of Education
3. How to create consumer loyalty in these Economic Crisis?
Waiting for your reply
Regards,
Saima Hussain
Answer Saima, I think any one of those three topics would be interesting and useful. But if I were making the choice, I think that "Brand Economics" would be the best one. Let me explain why briefly.
The big payoff is that you'd be combining two disciplines--economics and marketing. If you don't know much about marketing, let me tell you: It's GREAT STUFF to know. And even if you do, conducting research on the economics of branding would be fun, interesting, and valuable. In our little consulting firm, we are BIG BELIEVERS in branding. Good branding activities are not cheap, believe me. But they have HUGE payoffs because we don't have to compete with firms whose only competitive strategy is to reduce the price. Competing on the basis of price is, in essence, a race to the bottom of the ocean. . .and the divers are wearing cement wetsuits!
Branding--which is part of a competitive strategy of DIFFERENTIATION--is more fun and more interesting. For us, it has also led to MUCH more interesting work at MUCH higher prices with MUCH better clients. Win, win, win. Give "brand economics" your best effort, and let me know how it goes.
And if, at some point, you'd like to send me a draft of your thesis for some feedback before you submit it, please send it to cfa2005@gmail.com. I'd be delighted to help you. I'm also confident that I'd learn some things about branding that I didn't know before I read your thesis. So there's incentive for me, too.
I'm sure you'll have a lot of fun with this topic. Do let me know if I can help you, of course.
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