- Subject title: Business Economics
- Academic year: 2009-2010 Academic Course: First Trimester: First
- Bachelor: IBE
- Subject code: Grau 21117
- Number of ECTS credits: 9 (Tr1+Tr2)
- Hours of student dedication: 69 (Tr1+Tr2)
- Medium of teaching: English
- Professors: Mircea Epure
1. Presentation of the Subject
This subject is an Introduction to Business Economics.
The course provides a comprehensive analytical framework aimed at understanding the behavior of economic actors. The following key issues are addressed within the context of economic activities:
· What is the firm?
· Why does the firm exist?
· What motivates the individual when making economic decisions?
· What are the main problems encountered in economic transactions?
· How does one solve these problems?
The main objective of the course is to provide students with sufficient understanding of the subject to allow them to apply theoretical models to any economic reality.
Students are expected to read beforehand the compulsory class material, prepare the different case studies and exercises, and participate actively in class debates. Furthermore, the search for additional material and application of the knowledge gained to real life cases will be positively evaluated.
2. Skills to Be Acquired During the Course
|
Main Skills |
|
1. Analytical capacity 2. Communication skills 3. Work discipline |
3. Topics
· Unit 1: The Individual as a decision maker
o Topic 1: Human Behavior and Economic Rationality (Brickley et al. 1997: Chapter 2)
· Unit 2: Main concepts and models
o Topic 2: Markets and Organizations (Brickley et al. 1997: Chapter 3)
o Topic 3: Coordination through Contracts (Brickley et al. 1997: Chapter 7)
· Unit 3: Applications
o Topic 4: Relations with Suppliers (Brickley et al. 1997: Chapter 15)
o Topic 5: Quality and Management (Brickley et al. 1997: Chapter 17)
o Topic 6: Labor Relations and Teams (Brickley et al. 1997: Chapter 9)
o Topic 7: Financial Relations (Brickley et al. 1997: Chapter 8)
Remarks
1. Students are recommended to fully review the reading materials before the first session on each topic (see section "8. Activity planning").
2. Each professor will specify during class and distribute via Campus Global (or other means) any additional material for practice classes and seminars.
4. Evaluation
The course is based on the principle of continuous evaluation of students, with a special emphasis on attaining knowledge and skills.
1. Therefore, the theory class and seminar participation together with the individual analysis of case studies and exercises represent 40% of the final mark, while the exam represents 60%. In order to pass the course, both marks - exam and class participation - must have a minimum level of "Pass" ("Aprobado").
2. If a student fails to pass the course, the mark for participation will be transferred to the September exam, which will also account for 60% of the final mark.
3. Each trimester's course is independent, and the final grades' report will be signed jointly by the professors of the two trimesters. Both professors have equal responsibility over the subject and the final mark.
4. The internal evaluation for each trimester shall be kept separately. If the student obtains a mark of at least 5 in each of the two trimesters, the average of the two course marks shall be calculated to give the final mark.
5. If, in either of the two trimesters, a student obtains a mark below 5, no average will be calculated. Instead, the final mark will be 4 and the student will have to retake the exam, in September, for the trimester in which he or she failed. The mark for the trimester that was passed will be retained.
6. Partial pass marks (i.e. per trimester or class/seminar participation) are not retained from one year to another.
7. The exam scheduled for September lasts for 4 hours, 2 for each trimester.
5. Bibliography and Teaching Materials
● Main bibliography:
- ARRUÑADA, B. Teoría contractual de la empresa. Madrid: Marcial Pons, 1998.
- BRICKLEY, J. A.; SMITH, C. W. Jr.; ZIMMERMAN, J. L. Organizational Architecture. A Managerial Economics Approach. Chicago: Irwin, 1997.
- RUBIN, P. H. Managing Business Transactions. New York: Maxwell McMillan International, 1990.
● Teaching materials:
- Additional materials for each group will be available via Aula Global.
6. Methodology
The methodology is based on the following principles:
- Student autonomy
- The professor's role as mentor
- Systematic, continuous work
Students are specifically expected to:
1. Read the materials and reflect on them before the sessions.
2. Draw up any questions to be posed to the professors before and/or during the class.
3. Attend all class sessions.
4. Answer the professors' questions during the theory and seminar sessions.
5. Hand in, before each session, all case study analyses and exercises for discussion during class.
The professors are expected to:
1. Present the main elements of each topic during class and answer students' questions.
2. Evaluate the degree of understanding and knowledge of the class material. This will be done, during each session, by asking students at random questions on the reading material.
3. Illustrate the empirical application of the theoretical material through the analysis of case studies and exercises.
7. Activity Planning
|
Week |
Class activity grouping / activity type |
|
Week 1 |
Session 1: Introduction |
|
Week 2 |
Session 1: Topic 1 Session 2: Topic 1 |
|
Week 3 |
Session 1: Topic 2 Session 2: Topic 2 |
|
Week 4 |
Session 1: Topic 3 Session 2: Topic 3 |
|
Week 5 |
Session 1: Topic 3 Session 2: Topic 4 |
|
Week 6 |
Session 1: Topic 4 Session 2: Topic 5 Session 3: Seminar |
|
Week 7 |
Session 1: Topic 5 Session 2: Topic 5 Session 3: Seminar |
|
Week 8 |
Session 1 Topic 6 Session 2: Topic 6 Session 3: Seminar |
|
Week 9 |
Session 1: Topic 7 Session 2: Topic 7 Session 3: Seminar |
|
Week 10 |
Session 1: Seminar |
Remarks
1. Students are recommended to fully review the reading materials on each topic (see section "4.Contents") before the first session.
2. Each professor will indicate in class and distribute via Aula Global (or other means) any additional material for practice sessions and seminars.