After completing the course Introduction Economics and Business (E&BE) the student is able to:
- Identify, select and apply different basic economic theories;
- Describe and explain the underlying assumptions and potential criticism regarding neoclassical economic theory;
- Discuss, explain, and apply a set of alternative economic theories concerning the organization of firms;
- Explain and apply the basic working of game theory;
- Explain and analyze the different arguments of strategic decisions of firms.
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Why are firms organized differently in different industries, countries, and times? How can we explain the different strategies and strategic changes of firms?
This course consists of two parts. The first part will be an introduction to economics. The second part of this course is an introduction to business (economics). The focus in this part will be on economic approaches to organizations and management. Economists think in terms of efficiency: how can a certain goal be reached by using minimal resources. Consequently, the central question in this course is how an organization can be governed and managed efficiently. We will discuss and compare “standard” as well as a set of “alternative” economic theories to discuss the existence, organization, structure, (strategic) behavior, and performance of firms. At the end of the course, you should be able to analyze the structure and behavior of organizations using these different perspectives.
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| Written exam and assignment.
Partial grades do not remain valid. |
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