Seminar: Corporate management in real life, based on economic models - cancelled

Course content

The purpose of the seminar is to let students understand and apply models from Industrial Organization (IO) into real life decisions for a company.

Two examples:

1. When and why is it advantageous to start a telecom company with a few large incumbent companies – what are the prerequisites for this? – And can any real life cases show this behavior?

2. When do you break a tacit collusion in the oil industry? – Are there any examples and what happened?

 

Education

MSc programme in Economics

The seminar is primarily for students at the MSc of Economics

Learning outcome

From this seminar the student will be able to use theories from IO in order to give the best advice to a company that need to alter its market position (consulting).


Moreover the student will be better at taking corporate decisions (corporate management).


Also, the student will be trained in understanding corporate behavior, when analyzing threats and opportunities for a company (corporate finance, research and more).

Knowledge:
To understand which models of IO that can be applied on a given corporate decision.

Skills:
To be able to operate with economic models from IO in a real life environment.

Competences:
- To work with economic models in a non-academic situation.
- Take optimal critical decisions for any given company.
- Analyze and understand corporate behavior and the optimal (and expected) market response.

Planning/start-up meeting, research and writing process of the seminar paper, sessions with presentation of own paper and critical evaluation/feedback to another student´s paper, actively participating in discussions at class.

Before the session a "so-finalized-as-possible"-draft of the paper must be uploaded in Absalon. After the presentations, the student submit an edited version of the paper in the Digital Exam portal as the final exam paper. The aim is that students use the presentation sessions as an opportunity to receive and use the constructive feedback to improve the paper.

This list is not complete and consist of only recommended litterature (hence, it will of course not be expected nor necessary to have read all the below mentioned litterature):

  • Cyert, Richard; March, James G. (1992). A Behavioral Theory of the Firm (2 ed.). Wiley-Blackwell. ISBN  0-631-17451-6.
  • Kim, W.C.; Mauborgne, R. (2005). Blue Ocean Strategy: How to Create Uncontested Market Space and Make the Competition Irrelevant. Boston: Harvard Business School Press. ISBN  978-1591396192.
  • Porter, Michael E. (1985). Competitive Advantage. Free Press. ISBN  0-684-84146-0.
  • Porter, Michael E. (1980). Competitive Strategy. Free Press. ISBN  0-684-84148-7.
  • Gerry Johnson, Kevan Scholes, Richard Whittington: Exploring Corporate Strategy (8th Edition) ISBN: 9780273711919.
  • Fudenberg D, Tirole J. Game Theory. Cambridge, MA: MIT Press; 1991 ISBN: 9780262061414.
  • M. Scherer, David Ross: Industrial Market Structure and Economic Performance. Houghton Mifflin 1990 ISBN: 9780395357
  • Malinvaud, Edmond. Lectures on microeconomic theory, North-Holland, 1972. ISBN: 9780444876508
  • Hirshleifer, Jack and Riley, John G. The Analytics of Uncertainty and Information, Cambridge University Press, 2nd edition, ISBN: 978-0-521-83408-7
  • Tirole, Jean: “The Theory of Industrial Organization” MIT press, 1988, ISBN: 9780262200714
  • Sutton, John: Sunk Costs and Market Structure; MIT press, 1991, ISBN: 9780262193054

 

A good understanding of microeconomics, game theory and Industrial Organization is highly recommended, as the seminar will use models from these theories to be applied to real life situations and cases. So it is recommended to have followed Industrial Organization before taking the seminar.

It is recommended to have followed Game Theory or follow at the same time as taking the seminar.

Schedule:
• Planning meeting: 5th of September 2017, 15-17
• Deadline commitmentpaper: In agreement with the lecturer and not later than 1st of October.
• Deadline of pre-paper uploaded to Absalon: Agreed upon at the planning meeting.
• Presentations/Workshops: In november. Dates agreed upon at the planning meeting.

ECTS
7,5 ECTS
Type of assessment
Written examination
- a seminar paper in English that meets the formal requirements for written papers stated in the curriculum and at KUNet for seminars..
Aid
All aids allowed
Marking scale
7-point grading scale
Censorship form
External censorship
Criteria for exam assessment

The student must in a satisfactory way demonstrate that he/she has mastered the learning outcome of the course and the objectives stated in the Curriculum.

  • Category
  • Hours
  • Seminar
  • 20
  • Project work
  • 186
  • English
  • 206