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Excerpt from course description

Microeconomics, Business Strategy and Management

Introduction

Complete course description will be ready summer 2022.

Business covers a diverse set of subfields. Real life business decisions are complex and require an understanding of each of these fields. This course starts by giving you a framework to think about incentives (or objectives), constraints and optimal choices, i.e., what economists call microeconomics.  

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. In particular, real-world complications such as imperfect competition and asymmetric information are focused upon when studying strategic situations faced by firms. The course also covers key frameworks for strategic analysis and strategic choices. In economics this is named personnel economics, but the course also covers psychological factors such as fairness and intrinsic motivation.

Course content

Microeconomic fundamentals

  • Utility and preferences, profit, constraints to economic decisions and optimal choices
  • Game theory – strategic interaction and equilibrium.

Business strategy

  • Industrial organization
  • Strategy

Management economics

  • Personnel economics (incentives and compensation for workers and managers, effects of changes in compensation schemes).
  • Economic psychology (fairness and intrinsic motivation).

Disclaimer

This is an excerpt from the complete course description for the course. If you are an active student at BI, you can find the complete course descriptions with information on eg. learning goals, learning process, curriculum and exam at portal.bi.no. We reserve the right to make changes to this description.