GRA 4155 Microeconomics, Business Strategy and Management
GRA 4155 Microeconomics, Business Strategy and Management
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.
By the end of the course, the student will have a comprehensive understanding of:
- Microeconomic fundamentals and game theory
- Industrial organization and business strategy
- Economics of organizations and organization science.
By the of the course, students will know how to
- Be able to formulate relevant business problems and questions using insights from applied microeconomics
- Analyse business strategies
- Analyse organization design
Students are well trained to reflect on economic based analysis of business strategy and management economics, but also their limitations.
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
Complementary learning tools will be used during the course. There will be tutorials with exercises in addition to lectures.
Please note that while attendance is not compulsory in all courses, it is the student’s own responsibility to obtain any information provided in class.
All courses in the Masters programme will assume that students have fulfilled the admission requirements for the programme. In addition, courses in second, third and/or fourth semester can have specific prerequisites and will assume that students have followed normal study progression. For double degree and exchange students, please note that equivalent courses are accepted.
Disclaimer
Deviations in teaching and exams may occur if external conditions or unforeseen events call for this.
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| Assessments |
|---|
Exam category: Submission Form of assessment: Written submission Invigilation Weight: 100 Grouping: Individual Support materials:
Duration: 3 Hour(s) Exam code: GRA 41551 Grading scale: ECTS Resit: Examination when next scheduled course |
| Activity | Duration | Comment |
|---|---|---|
Teaching | 33 Hour(s) | |
Teaching | 3 Hour(s) | |
Prepare for teaching | 95 Hour(s) | |
Individual problem solving | 24 | |
Examination | 3 Hour(s) |
A course of 1 ECTS credit corresponds to a workload of 26-30 hours. Therefore a course of 6 ECTS credits corresponds to a workload of at least 160 hours.