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A R I S O N S C H O O L O F B U S I N E S S
D E A N ’ S W E LCO M E
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The business administration program at IDC Herzliya offers high-quality studies in a friendly, stimulating environment. Our vision is to prepare the next generation of business leaders by striving for professional excellence, innovation and initiative. The program provides a deep understanding of both theoretical and practical aspects of management. It demonstrates how to apply the most advanced business theories in real life and emphasizes originality and creativity.
A continual aspiration to excellence underlies all of the school’s work, by the faculty and by joint programs with key institutions around the world, such as an exchange program with the Wharton School of the University of Pennsylvania.
We are very proud of our alumni. The education and talents of our alumni has led them, with the assistance of IDC’s Career Development Center, to positions at leading companies – in industry, financial institutions, government agencies and other areas, and to continue their education at first-rate academic institutions in Israel and abroad.
Prof. Elazar Berkovitch
Dean of the Arison School of Business
T E D A R I S O N ( 1 9 2 4 - 1 9 9 9 )
Ted Arison was born and raised in Tel Aviv. He enlisted in the Jewish Brigade of the British Army during WWII and went on to become a lieutenant-colonel in the Israel Defense Forces. He and his family moved to the United States and influenced the cultural life of Miami by establishing the National Foundation for Advancement in the Arts, the New World Symphony, and purchasing the Miami Heat NBA team. The Arison Foundation in the US was founded in 1991, followed by his foundation in Israel which supports and contributes to education, health, research, and art. The Arison School of Business was established in 1995.
B U S I N E S S A D M I N I S T R AT I O N
M A J O R S
F I N A N C E
The major in finance prepares students to succeed in lucrative positions at financial institutions, such as banks and insurance companies, and in the financial departments of corporations and consulting firms.
Finance is one of the most dynamic fields in business administration. The increasing globalization of markets and stock exchanges and the ongoing development of sophisticated, new financial instruments means that companies need to constantly master the latest financial techniques. Companies and institutions in the capital market obtain their competitive edge by using the most sophisticated instruments to price assets, raise funds, evaluate potential investments, manage risks, and implement mergers and acquisitions.
The major in finance teaches both theoretical principles and practical skills with courses on corporate finance, asset investments and derivatives, financial risk management and investment portfolio management. Students apply all this in a seminar in which they complete a consulting project, either evaluating a company or researching performance in the capital market. In addition to preparing students for successful careers, the major in finance teaches them how to manage sources of capital.
M A R K E T I N G
The major in marketing provides students with wide-ranging, in-depth knowledge of the various components of marketing, as well as an understanding of modern marketing. The teachers present theories and the latest research, using them to analyze case studies. Guest lecturers share their experience and wisdom, plus students obtain real-world experience by working on team projects with leading companies. In addition to the classic marketing courses, the curriculum includes innovative courses, such as electronic commerce management, integrated marketing communications, retail marketing management and public relations, as well as workshops on creativity in marketing and presentations. Furthermore, a unique series of courses developed especially for this major introduces the relevant legal issues, such as intellectual property, monopolies, and consumer and marketing law. Our graduates have the skills and knowledge to develop a career in marketing, serving as marketing directors, marketing communications directors, product managers and brand managers at companies and organizations. In addition, our graduates play an integral role as consultants, researchers, planners or budget designers at companies that provide marketing services.
B U S I N E S S A D M I N I S T R AT I O N
C U R R I C U LU M
> > > > > > > > > > > > > > 22 | 23The undergraduate program leading to a BA in business administration consists of approximately 120 credits and is designed to be completed over a period of three years or six semesters. Students can choose to major in either marketing or finance. Students are expected to take 12 credits of either marketing or finance courses, 10 credits of business administration electives and 4 credits of general electives.
A comprehensive list and description of all the courses may be viewed at our website: www.rris.idc.ac.il/business/curriculum
Preparatory courses (required) see page 72.
Spring Semester Mathematics II Macroeconomics Statistics I
Corporate and Securities Law
Information Systems and Technologies Business Communications II
Spring Semester
Integrated Marketing Communications Investment Theory (for finance major only) Business Strategy (for marketing major only) Principles of Operational Management Critical Thinking
The Macroeconomic Environment Human Resource Management Research Methods Fall Semester Mathematics I Microeconomics Contract Law Business Communications I
Computer Applications in Management Introduction to Accounting
Fall Semester Principles of Finance
Principles of Marketing Management The Consumer and the Firm in the Economy Managerial Accounting Statistics II Organizational Behavior Year I Year II
The Zell Entrepreneurship Program
The Zell Entrepreneurship Program at IDC Herzliya is a venture creation program for outstanding undergraduate students in their final year of law, business, communications, computer science and government studies. The program, in its ninth year, is funded generously by renowned entrepreneur Sam Zell of Chicago. It allows students to take an idea and work to develop it into a business in the course of an academic year. The venture creation process is complemented by academic courses in relevant topics such as marketing, finance, strategy, psychological aspects, legal aspects, Internet entrepreneurship, leadership and branding and positioning. In addition, each self-selected team is coached by an industry expert mentor relevant to their venture. The study trip to the US is a culmination of the year long program and is meant to offer the students an opportunity to see corporate America first-hand. In addition to the company visits, the students take a three-day intensive program specially tailored for them at the University of Chicago Booth School of Business and meet Sam Zell in Chicago.
Above (left): Students in the Zell Entrepreneurship Program on a study trip to New York.
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Year III > > > > > > > > > > > > > > > > > > > > > > > > > > > > > > > > > >
Finance Courses and Electives: Analysis of Financial Statements Futures and Options Markets Financial Risk Management Financial Securities Evaluation Company Valuations
Securities Regulations Introduction to Banking
Credit Evaluation and Management Trading Systems in the Stock Market The Capital Market in Israel
Introduction to Insurance and Risk Management
General Insurance Life Insurance
Legal Aspects of Corporate Finance Bankruptcy and Reorganization of Companies
Exchange Programs
IDC Herzliya offers several exchange programs for excellent students with leading academic institutes like the Wharton School at the University of Pennsylvania and Singapore Management University. > > > > > > > > > > > > > > >
Marketing/Finance Yearly Seminar Business Electives
Courses and Electives for Major Business Administration Electives: The Firm in the Global Market Introduction to Insurance The Economy of Israel Computer Law
International Management Managerial Decision-Making Leadership in Organizations
Simulation Games and Negotiation Processes Managing Strategic International Alliances Team Management and Development Problem Resolution Strategy
Game Theory in the Law
The Global Energy Economy – Geopolitics, Strategy, Policy and Economy
Lessons in Leadership from Great Films Introduction to Tourism and Hospitality Marketing for Tourism and Hospitality Marketing Courses and Electives: Consumer Behavior
Integrated Marketing Communications Advertising and Marketing Law Social and Political Marketing Global Marketing
Marketing Strategy
Retail Marketing Management Product Policy
Pricing Policy Distribution Policies Sales Management
Public Relations – Goodwill and Vision Services Marketing
Seminar: Creativity in Marketing Marketing with New Media
B U S I N E S S A D M I N I S T R AT I O N
FAC U LT Y
Prof. Amir Barnea, PhD, Cornell University, 1972
Prof. Barnea is the founding dean of the Arison School of Business. He was a professor of finance at Tel Aviv University and at Rice University and has served as a visiting professor at leading American universities. His main area of specialization is corporate finance. He has published many articles in top journals of finance and the book Agency Problems and Financial Contracting. Prof. Barnea has been a board member of the Tel Aviv Stock Exchange, a member of public committees and a board member of public corporations in Israel.
Prof. Elazar Berkovitch, PhD, Northwestern University, 1986
Prof. Berkovitch is the dean of the Arison School of Business and the director of its MBA Program. He has been a professor at the University of Michigan and at the School of Business Administration at Tel Aviv University and served as a member of the editorial board of the Review of Financial Studies and the European Financial Review. The primary focus of Prof. Berkovitch’s research is corporate finance, mergers and acquisitions, bankruptcy and firm reorganization.
Prof. Eyal Biyalogorsky, PhD, Duke University, 1998
Prof. Biyalogorsky has a PhD in marketing from Duke University and a BSc in electrical engineering from Tel Aviv University. He is an associate professor at the University of California, Davis, where he teaches courses on pricing, product management and marketing management. Prof. Biyalogorsky’s research has appeared in leading marketing journals such as Marketing Science and the Journal of Marketing. He received the “Professor of the Year Award” recognizing excellence in teaching in 2000, 2003 and 2004.
Prof. Jacob Boudoukh, PhD, Stanford University, 1991
Prof. Boudoukh is a research associate in the asset-pricing group of the National Bureau of Economic Research in Boston. He served as an associate professor of finance and international business at the Stern School of Business of New York University.
Prof. Rafi Eldor, PhD, Harvard University, 1982
Prof. Eldor is the academic director of the Caesarea Edmond Benjamin de Rothschild Center for Capital Markets and Risk Management at IDC Herzliya. He has taught at Tel Aviv, Boston, Columbia and Bar-Ilan universities. He has served as the chief economist of Israel Discount Bank, chairman of the board of a publicly traded company, general manager of a money management firm and a consultant on futures and options. He is the author of a number of books and textbooks.
Dr. Liat Hadar, PhD, Ben-Gurion University of the Negev, 2007
Dr. Hadar holds a PhD with honors in Cognitive Psychology from Ben-Gurion University of the Negev. She received a Fulbright Scholarship and held a visiting lecturer position at the Marketing Department of UCLA Anderson School of Management. Dr. Hadar’s research focuses on the manner in which past experience with products, feeling of knowledge, and assortment size affect current consumer choices. She also investigates social influences on advice taking and giving, and the self-other discrepancy in personal decision making and advice giving.
Prof. Ronen Israel, PhD, Northwestern University, 1989
Prof. Israel is the director of the Entrepreneurship Program in the Global MBA Program. He is also a visiting professor at the University of Chicago and a faculty member at the McKinsey and Company MBA program. Prof. Israel has taught at leading business schools and executive education programs around the world and received awards for excellence in teaching from Duke University and the University of Chicago. He serves on the board of directors of Elco Holdings, Elran Investments, Mivtach-Shamir and Young Entrepreneurs Israel.
Dr. Tal Katz-Navon, PhD, Columbia University, 1999
Dr. Katz-Navon earned a PhD in organizational psychology at Columbia University, a MS degree in organizational psychology at the Technion–Israel Institute of Technology and a BA in psychology and sociology at the Hebrew University of Jerusalem. Dr. Katz-Navon’s research addresses organizational climates and performance as well as the implementation of organizational behavior methods to improve quality, especially patient safety, in health care. She teaches classes on organizational behavior and teams.
Dr. Varda Liberman, PhD, Tel Aviv University, 1985
Dr. Liberman is a deputy dean of the Arison School of Business and the director of Mathematical and Statistical Studies at IDC Herzliya. She has served as an associate researcher at the Institute for Advanced Studies at the Hebrew University of Jerusalem and at Stanford University, where she still spends every summer as a visiting researcher. Her research focuses on probabilistic judgments and decision-making. She is the author of a number of books and textbooks.
Dr. Sarit Markovich, PhD, Tel Aviv University, 1999
Dr. Markovich holds a BA in Computer Science and Economics, and a PhD in Economics from Tel Aviv University. Her post-doctorate is from the University of Chicago in Economics. She joined the Arison School of Business after four years at the Kellogg School of Management, Northwestern University. Dr. Markovich's research interests focus on strategic interactions in markets with network effects, patents and licensing, enterprise-wide systems, and strategic pricing in IT markets.
Prof. Roni Michaely, PhD, New York University, 1990
Prof. Michaely’s recent research covers raising capital, conflicts of interest in the investment and banking industry, and companies’ payout policies. He serves as an associate editor of the Review of Financial Studies and the Rudd Family Professor of Management at Cornell University. He has served on the board of the Israel Securities Authority. Prof. Michaely was cited in a study in the Journal of Finance Literature for the impressive number of academic articles he has published. In 2006, he and his coauthors received the prize for the best paper in corporate finance from the Journal of Financial Economics.
Dr. Yitzhak Oron, PhD, Hebrew University of Jerusalem, 1972
Dr. Oron is the dean of Student Affairs at IDC Herzliya. He has taught in the Economics Department of Tel Aviv University. Dr. Oron was a member of the Ministry of Education’s committee on the instruction of high-school economics and is the chairman of two Israeli publishing houses. He has published texts in the area of urban economics and is the coauthor of Introduction to Macroeconomics, a book used by most Israeli universities and colleges.
Dr. Talia Rymon, PhD, University of Pennsylvania, 1993
Dr. Rymon serves as a deputy dean of the Arison School of Business and the head of the Marketing Program at IDC Herzliya. She has served as a faculty member at Carnegie Mellon University. She received a BA in economics from Tel Aviv University and an MA and PhD in marketing from the Wharton School at the University of Pennsylvania. Her research interests include marketing strategy, competitive signaling, entertainment marketing and services marketing.
Prof. Oded Sarig, PhD, University of California, Berkeley, 1983
Prof. Sarig is the Shrem, Fudim, Kelner Professor of Finance at IDC Herzliya and former dean of the Arison School of Business. Prof. Sarig received his BA in accounting and economics from Tel Aviv University. His past academic positions were at Columbia University, Tel Aviv University and the Wharton School of the University of Pennsylvania. He has published books and multiple articles in leading academic journals.
Dr. Dan Segal, PhD, New York University, 2000
Dr. Segal has taught managerial accounting and financial accounting at top North American universities, including the University of Toronto, where he served as an assistant professor. Dr. Segal has published research papers in leading accounting journals. His primary research interests include earnings management, valuation and the effects of accounting information on economic decisions.
Shlomi Shuv, MBA, Ben-Gurion University of the Negev, 1998
Mr. Shuv is the director of the Accounting Program at IDC Herzliya. He chairs the committee on financial reporting in theory and practice of the Israeli Accountants Association and represents the Israeli Institution for Proper Accounting on professional committees. He serves as editor of Financial Reporting in Israel – Theory and Practice, which is published annually by the Israeli Accountants Bureau.
Dr. Eyal Sulganik, PhD, Tel Aviv University, 1994
Dr. Sulganik heads Accounting Studies at IDC Herzliya and is the CFO and Deputy CEO of I.D.B. Previously, he held senior positions at the Israeli Securities Authority. He also chaired the committee of the Health Ministry and the Israeli Accounting Standard Board appointed to formulate a new financial reporting model for the HMOs and served on a number of government committees and councils that regulate, monitor or set standards for the accounting, auditing, appraising and insurance industries.
Miriam Symon, MBA, Tel Aviv University, 1995
Miriam Symon is the coordinator of the English program at the Arison School of Business and the Efi Arazi School of Computer Science. She has extensive experience in English training in companies and colleges and has attained the London Chamber of Commerce and Industry Certificate in Teaching English for Business (LCCI Cert. TEB) with distinction. She is currently studying towards a doctorate in education at the University of London.
Dr. Yaron Timmor, PhD, Tel Aviv University, 2001
Dr. Timmor is the academic director of the Business Administration Program at the Recanati International School and heads the Marketing Communications Program at IDC Herzliya. He has diplomas in international marketing from the Wharton School of the University of Pennsylvania and in advertising from the International Advertising Association. He has served as a lecturer at the Hebrew University of Jerusalem and Tel Aviv University. Dr. Timmor is a consultant to international firms and has been a supervisor in an advertising agency and a marketing manager.
