30450 - FUNDAMENTALS OF MANAGEMENT
Course taught in English
Go to class group/s: 13
The course provides a comprehensive introduction to the economics and management of business firms. After an overview of the main theories of the firm, the course equips students with the main analytical tools used in managerial accounting. Then, the course provides a comprehensive analysis of corporate strategic decisions. The course blends theoretical and analytical approaches with real-life insights and applications from the business sector. Students are encouraged to take an active part in the learning process. The educational objectives of the course are the following Provide students with knowledge about the role and functioning of business firms in modern economic systems Gain knowledge on the main theoretical and analytical tools required for the economic analysis of firms' activities, and learn how to use them in practical situations Provide a comprehensive introduction to the wide range of firms' strategic decisions.
- The structure and governance of firms.
- Introductory notions of business economics: firms, markets and resources.
- Theories of the firm: stakeholders and shareholders.
- Agency and corporate governance mechanisms.
- Learning to read financial statements (income statement and balance sheet).
- Measuring performance through financial ratios.
- Strategic analysis and managerial decisions.
- Economies of scale and production capacity.
- Economies of scope and diversification decisions.
- Vertical integration.
- The competitive environment: market structures and industries.
- Creating and sustaining the competitive advantage.
- Organizations and values.
- Organizational structures.
- Incentives and organizational behavior.
- Laders and top management teams.
- Know about the role and functioning of business firms in modern economic systems. Use the main theoretical and analytical tools for the economic analysis of firms' activities, and understand the rationale behind a wide array of corporate strategic decisions.
- Apply the theoretical notions of management to the analysis of business cases related to firms' governance and corporate strategy. Assess the economic conditions of firms by using the analytical tools and methods from management accounting.
- Face-to-face lectures
- Exercises (exercises, database, software etc.)
- Case studies /Incidents (traditional, online)
- Group assignments
- Face-to-face lectures.
- In-class numerical exercises.
- Case-study discussions.
|Continuous assessment||Partial exams||General exam|
Students have two options.
- Two partial written exams (the first in late October and the second in December or January) on specific portions of the program. Each partial exam accounts for 50% of the final grade. Each partial exam can be taken only once. Thus, students that fail in the first-partial exam need to take a general written exam covering the whole program; similarly, students that pass the first exam but fail in the second exam, need to take a general written exam covering the whole program.
- A general written exam covering the whole program and accounting for 100% of the grade. The general exam can be taken either in December or in January/February, or in any of the future exam sessions.
- J. BRICKLEY, C. SMITH, J. ZIMMERMAN, Managerial Economics and Organizational Architecture,Mc Graw Hill, 2016.
- C. WALSH, Key Management Ratios, Prentice Hall, 2006.
- Case studies from the Harvard Business School Case Library.