A Day in the Life of an Executive MBA Student
by Eric Bronnenkant, Executive MBA Class of 2015
As I walk from the A train to NYU at 8am, I realize that Starbucks is not open due to the holiday schedule. Is this a problem? No - I reallocate my limited resources to find the nearest open establishment to avoid the tail risk of not finding a fairly priced hot caffeinated beverage.
The morning statistics class includes a lively discussion of non-constant variance with Professor Deo. The afternoon microeconomics class includes a discussion of the negative externalities of pollution during the production of beer. Due to a shift in quantity demanded, the cost of higher excise taxes is shared by the producer and the consumer. All this discussion of beer makes our class thirsty, so we all set out to have drinks to get a real world understanding of the impact of these excise taxes.
At the end of the day, a classmate gives me a ride back to Port Authority and we get stuck in traffic at 34th Street. I thank him for the ride, hop out of the car, and run 8 blocks to try to make a 9:30pm bus. While I make it to the bus on time, there are more people waiting for the bus than available room. As I watch the bus pull away without me, I notice a familiar smiling face waiting in line for another bus - Professor Tom Pugel, Vice Dean for MBA Programs. We have a conversation on the supply demand imbalance and discuss how price discrimination for consumers whose demand was inelastic at peak times could solve this market inefficiency. As I am considering my payoff matrix of different strategies for getting back to New Jersey, a new bus magically appears with plenty of room. The bus company shifted their supply curve to meet demand and it’s smooth sailing the rest of the way home.
It’s been a great first semester and I look forward to the rest of the program!