GRA 4155 Microeconomics, Business Strategy and Management

GRA 4155 Microeconomics, Business Strategy and Management

Course code: 
GRA 4155
Department: 
Economics
Credits: 
6
Course coordinator: 
Leif Anders Thorsrud
Course name in Norwegian: 
Microeconomics, Business Strategy and Management
Product category: 
Master
Portfolio: 
MSc in Data Science for Business
Semester: 
2023 Autumn
Active status: 
Active
Level of study: 
Master
Teaching language: 
English
Course type: 
One semester
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.

Learning outcomes - Knowledge

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.
Learning outcomes - Skills

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
General Competence

Students are well trained to reflect on economic based analysis of business strategy and management economics, but also their limitations.

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
Teaching and learning activities

Complementary learning tools will be used during the course. There will be tutorials with exercises in addition to lectures.

Software tools
No specified computer-based tools are required.
Additional information

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.

Qualifications

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.

Required prerequisite knowledge

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Exam categoryWeightInvigilationDurationSupport materialsGroupingComment exam
Exam category:
Submission
Form of assessment:
Written submission
Exam code:
GRA 41551
Grading scale:
ECTS
Grading rules:
Internal examiner
Resit:
Examination when next scheduled course
100Yes3 Hour(s)
  • BI-approved exam calculator
  • Simple calculator
  • Bilingual dictionary
Individual
Exams:
Exam category:Submission
Form of assessment:Written submission
Weight:100
Invigilation:Yes
Grouping (size):Individual
Support materials:
  • BI-approved exam calculator
  • Simple calculator
  • Bilingual dictionary
Duration:3 Hour(s)
Comment:
Exam code:GRA 41551
Grading scale:ECTS
Resit:Examination when next scheduled course
Type of Assessment: 
Ordinary examination
Total weight: 
100
Student workload
ActivityDurationComment
Teaching
33 Hour(s)
Teaching
3 Hour(s)
Prepare for teaching
95 Hour(s)
Individual problem solving
24
Examination
3 Hour(s)
Sum workload: 
158

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.