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Business Economics I Introduction Petar Balachev. Office: Jaume 1- 20.146 E-mail: Office hour: Friday, 11:15h.-12:15h. TAs: Niccolo Pisani, Elena Reutskaja, Theme of the Course.

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Business economics i introduction petar balachev

Business Economics IIntroductionPetar Balachev

Office: Jaume 1-20.146


Office hour: Friday, 11:15h.-12:15h.

TAs: Niccolo Pisani,

Elena Reutskaja,

Theme of the course
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.

Business economics
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

Business economics1
Business Economics

Is this theory useful? How and for who?

  • Future entrepreneurs and businessmen

  • External parties

Recommended literature
Recommended Literature

  • “Managerial Economics and Organizational Architecture”,

  • Brickley, Smith and Zimmerman, 1997

  • (BSZ)

  • “Teoría Contractual de la Empresa”,

  • Arruñada,1998

  • (BA)

  • Business economics i introduction petar balachev

    • 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

    Teaching methodology
    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


    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


    • 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


    • 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


    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.


    • 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.