|Course code: 176101||Subject title: BUSINESS ECONOMICS|
|Credits: 6||Type of subject: Basic||Year: 1||Period: 1º S|
|Department: Gestión de Empresas|
|LARRAZA QUINTANA, MARTIN (Resp)||BARRENECHEA MENDEZ, MARCO ANTONIO|
Dirección General/Organization and Human Resources.
The firm. Ownership and management. Economic approaches. Types of organizations. Environment. Evolution. Objectives, planning and control.
CG01. Analysis and synthesis skills
CG04. Oral and written skills in English
CG08. Decision making skills
CG12. Social skills
CG15. Ethical behavior in the job
CG16. Ability to work in stressful environments
CG17. Self-learning skills
CB4. Students should be able to effectively deliver information, ideas, problems and solutions to the audience
CE01. Understand economic institutions as the result and application of theoretical or formal models that represent how the economy works
CE04. Apply professional criteria and technical tools to solve business problems
CE11. Understand the nature of the firm as an organization and place where agents with different interests interact
|Learning outcomes||Content||Training activities||Evaluation system|
|R_DG_01. Understand decision making theoretical foundations||Units 1 and 4||A1, A2, A3, A4, A5, A6||In-class and out-of-class individual exercises; Partial assessment; Final exam|
|R_DG_02. Understand the firm's basic theory. Organization and functional areas||Units 1, 2, and 3||A1, A2, A3, A4, A5, A6||In-class and out-of-class individual exercises; Partial assessment; Final exam|
|R_DG_07. Understand how to manage conflict and motivate effective cooperation||Units 5, 6, and 7||A1, A2, A3, A4, A5, A6||In-class and out-of-class individual exercises; Partial assessment; Final exam|
|R_DG_08. Understand ethical behavior in the firm||Unit 7||A1, A2, A3, A4, A5, A6||In-class and out-of-class individual exercises; Partial assessment; Final exam|
|Methodology - Activity||In-class hours||Outside-class hours|
|A-1 Theoretical sessions||46|
|A-2 Practical sessions||14|
|A-3 Preparing individual/group assignments||40|
|A-4 Individual/group tutorial sessions||8|
|Total number of hours||60||90|
|Methodology - Activity||COMPETENCES|
|A-1 Theoretical sessions||CG01, CG03, CG08, CG12, CG15, CE01, CE11|
|A-2 Practical sessions||CG01, CG08, CG12, CG16, CEO1, CE03, CE04, CE11|
|A-3 Preparing individual/group assignments||CG03, CG08, CG12, CE04, CB4|
|A-4 Individual/group tutorial sessions||CG15|
|A-5 Self-study||CG15, CG16, CG17|
|A-6 Exam||CG01, CG08, CG16, CG17, CG02, CE04, CE13|
|Learning outcome||Evaluation system||Weight (%)||Possibility of resit|
|R04, R08, RE1||Final exam||70%||Yes|
|R04, R08, RE1||In-class and out-of-class individual exercises; Partial assessment||30%||No|
To make up the ordinary exam, at least 2 (out of 10) in the ordinary exam or to have performed continuous evaluation activities is required. To pass the course, at least 4 (out of 10) in the final exam is required.
This is a course on the analysis of organizations from an economic perspective. This course attempts to provide students with the basic conceptual knowledge and the indispensable analytic tools to better understand organizational problems that arise from collective action to finally improve firm efficiency.
Stockholders, managers, employees, financial institutions, customers and suppliers provide initiative and resources so that the firm can generate and distribute value. This course uses formal economic models to study the cooperation and conflict relationships between these parties.
This course considers the firm as a complex institution where the main characters are not the resources or the objectives but the individuals who act as rational agents. These agents relate to each other through contracts. These relationships take place in a context where the existence of uncertainty, information asymmetry and conflicting interests among the parties make cooperation more difficult. The firm is suggested as an institution able to mitigate such cooperation difficulties. Under this framework, different types of firms such as capitalistic firms and social firms are examined as well as the role of authority within the firm.
Finally, based on the value-chain concept, the different activities that firms perform are described and related to firm profit generation.
Unit 1. Markets and organizations
Unit 2. Transaction costs
Unit 3. Firm and value creation
Unit 4. Information and decision making
Unit 5. Authority and the employment relationship
Unit 6. Agency relation (large public corporations)
Unit 7. Cooperatives and the shirking problem
Douma, S. and Schreuder (2017) Economic Approaches to Organization, 6 edition, Pearson