Microeconomics, Business Strategy and Management

Introduction

The main objective of the course is to provide the students with knowledge in applied microeconomics. To this end, the couse course starts by giving you a framework to think about incentives (or objectives), constraints and optimal choices, i.e., microeconomic fundamentals.  

Game theory, where economic decisions are done in strategic environments and performance depends not only on the action of the decision maker, but also on decisions from other agents, is also studied together with topics from business strategy and managerial economics.

Course content

Microeconomic fundamentals

• Utility and preferences, profit, constraints to economic decisions and optimal choices
• Demand, supply and equilibrium
• Game theory – strategic interactions and equilibria.

Business strategy

• Industrial organization
• Strategic management:
  • Strategic Groups theory
  • Learning theory
  • Resource Dependency theory
  • Network Theory

Management economics

• Economics of organizations
• Organisation science
  • Organisations as rational, natural & open systems