Course 2007-2008 a.y.

Go to class group/s: 31

CLEA (6 credits - I sem. - AI) - CLAPI (6 credits - I sem. - AI) - CLEFIN (6 credits - I sem. - AI) - CLELI (6 credits - I sem. - AI) - CLEACC (6 credits - I sem. - AI) - DES (6 credits - I sem. - AI) - CLEMIT (6 credits - I sem. - RR) - DIEM (6 credits - I sem. - AI) - CLSG (6 credits - I sem. - AI)

Course Director:
LUIGI ORSENIGO

Course Objectives

The course aims at providing and discussing the fundamental concepts that can explain the essential features of the structure of the modern firm and its evolution over time. Specific attention is devoted to issues like corporate governance, innovation, internationalization of firms, and the emergence of network-like forms of organization. 
The course is divided into four main parts that trace the evolution of the organizational structure of firms and delineate the main interpretations and related conceptual tools.

Course Content Summary

Part I - Introduction

• The "textbook theory" of the firm
• The emergence of large corporations: from managerial theories of the firm to Chandler

Part II - Firms, markets and contracts

• The firm as an organization: from Coase to Williamson to contract theory
• Firms as a nexus of contracts: The HGM approach
• The separation between ownership and control: the principal-agent problem and the institutions limiting managerial discretion

Part III - The behavioral approach to the (innovative) firm

• Firms, information and knowledge
• Bounded rationality, routines, competencies and capabilities
• Organizational learning and innovation

Part IV - Alternative organizational structures of the firm: division of labor, specialization, networks and vertical integration

• The evolution of the vertically integrated innovative firm
• The multinational corporation
• The American firm vs. the Japanese firm (Aoki)
• Networks of innovators, joint ventures, markets for technology
• Small firms and industrial districts: from Fordism to Post-Fordism
• New forms of internationalization of large and small firms

Detailed Description of Assessment Methods

There will be a 1^st partial written exam and a 2^nd partial written exam.

Textbooks

•  J. TIROLE, Industrial Organization, The Theory of Industrial Organization, MIT Press (chapter 1).
•  R. LANGLOIS, P. ROBERTSON, Firms, markets and economic change: a dynamic theory of business institutions, London, Routledge, 1995.
• Further material will be indicated during the course.

For further and continuously updated information consult the IEP web site or contact  S.I.D. - Servizio Informazioni Didattica - Institute of Economics - via Gobbi, 5 - Room 313.

Exam textbooks & Online Articles (check availability at the Library)

Last change 12/06/2007 10:25