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Business Economics I Introduction Petar Balachev

Business Economics I Introduction Petar Balachev. Office: Jaume 1- 20.146 E-mail: peter.balachev@upf.edu Office hour: Friday, 11:15h.-12:15h. TAs: Niccolo Pisani, niccolo.pisani@upf.edu Elena Reutskaja, elena.reutskaja@upf.edu. Theme of the Course.

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Business Economics I Introduction Petar Balachev

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  1. Business Economics IIntroductionPetar Balachev Office: Jaume 1-20.146 E-mail: peter.balachev@upf.edu Office hour: Friday, 11:15h.-12:15h. TAs: Niccolo Pisani, niccolo.pisani@upf.edu Elena Reutskaja, elena.reutskaja@upf.edu

  2. Theme of the Course The course provides an introduction to business. It proposes to explain the behavior of actors and their interactions in a business environment.

  3. Business Economics • What does it mean – Business Economics? • Theory about Management of the Firm • The Firm: • What is the Firm? • Why does the Firm exist? • In what field does the Firm operate? • With whom does the Firm interact? • b) The individuals: inside and outside the Firm

  4. Business Economics Is this theory useful? How and for who? • Future entrepreneurs and businessmen • External parties

  5. Recommended Literature • “Managerial Economics and Organizational Architecture”, • Brickley, Smith and Zimmerman, 1997 • (BSZ) • “Teoría Contractual de la Empresa”, • Arruñada,1998 • (BA)

  6. Topics • Human Behavior and Economic Rationality. BSZ – 2 ; BA-1. • Markets and Organizations. BSZ-3 ; BA-2 • 3. Coordination through Contracts. BSZ-7 ; BA-3 • 4. Relations with Suppliers. BSZ-15 ; BA-4 • 5. Quality and Management. BSZ-17 ; BA-5 • 6. Labor Relations and Teams. BSZ-9, 12 ; BA-6 • 7. Financial Relations. BA-8

  7. Teaching Methodology • Each topic introduces: (Campus Global – Aula Global - MATERIALS D'ESTUDI - Materials complementaris) • Important notions and theoretical concepts • Real life and empirical Examples that illustrate the concepts • The main limitations of the concepts • Practicing your newly acquired knowledge during the Practice sessions

  8. Requirements Students are required: • To know the English definitions of important notions • To be able to illustrate these definitions with examples • To have a critical assessment of each notion

  9. Objective • To provide you with knowledge about the theory of the firm • To motivate you to learn and consider the theory and its applications from a CRITICAL perspective • To emphasize that Business and Ethics are not antonyms

  10. Advice • Note the English definitions. Draw the pictures and the key examples • Read your notes after and/or before each class • Construct your own examples • Ask what you don’t understand • Think by yourself

  11. Evaluation The course will be graded on a final exam (85%) and on Homeworks (15%). The final exam will consist in Multiple Choice Questions and a short essay on a managerial issue. The course and the exam are in English. The exam can be answered in Catalan, Spanish, and English. The homeworks MUST be done in English.

  12. Message • The management of an organization is both a science and an art. • It is a science because human behavior can be understood by general laws. • It is an art because each individual, each behavior and each business is unique.

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