Open to all UA graduate students who applied and were accepted into the McGuire New Venture Development Program. ECON 534, known as New Venture Development I, is the first core course of the McGuire New Venture Development Program. In this course, students will learn about the entrepreneurial process through a combination of lecture, discussion, and in-class exercises, and will work in teams under the guidance of Entrepreneurs in Residence and mentors to learn the skills to conceive and develop an investment-quality, comprehensive business venture. This semester, Program students work on the integration of marketing, production and management functions, pro forma statements, and the development of venture capital. Also included: value maximization; simulation of value distribution; sources of venture capital; timing of initial public offering; new venture ownership structuring.