Course 2017-2018 a.y.

Classes: 13 (I sem.)

Instructors:
Class 13: MARIO AMORE

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.
• Analysis and construction of Financial accounts.
• Performance measurement and the design of managerial contracts

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.

Students have two options.

• Two mid-term written exams (the first in late October and the second in December or January) on specific portions of the program. Each mid-term exam accounts for 50% of the final grade. Each mid-term exam can be taken only once. Thus, students that fail in the first-midterm 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.
• J.R. DYSON, Accounting for Non-Accounting Students, FT Prentice Hall, 2016.
• Case studies from the Harvard Business School Case Library.