Construir i defensar arguments lògics a partir del coneixement i la crítica raonada d'altres propostes. Comunicar arguments de manera correcta, oralment i per escrit, en les llengües oficials i en anglès. Expressar formalment les relacions entre les variables involucrades en un problema econòmic. Comprendre la naturalesa de l'empresa, les diferents formes en què s'organitza i els instruments metodològics bàsics que utilitza per a abordar la gestió de cadascuna de les seves àrees funcionals. Formular i resoldre problemes concrets en la presa de decisions. Aplicar els conceptes i instruments de l'anàlisi econòmica a l'àmbit de l'empresa i dels mercats Analitzar l'entorn econòmic i les institucions on l'empresa pren les decisions. Comprendre les interaccions entre el sector públic, el mercat i les empreses.
1. Markets. General Equilibrium. Basic Assumptions. Efficiency Properties and Welfare. Uncertainty and Time. Welfare under uncertainty: Optimal risk sharing. Market failures: Externalities and Public Goods. The Coase Theorem. Market incompleteness. 2. Transaction costs. The firm according to Coase. Definition and sources of transaction costs. Incompleteness of contracts. Bounded rationality. Asset specificity. Vertical integration. 3. Asymmetric information: imperfectly observable actions. Insurance and moral hazard. Moral hazard in firms: employee and managerial behavior. Incentive contracts and the principal and agent problem. Incentive mechanisms in organizations. 4. Asymmetric information: imperfectly observable characteristics. Private information. Insurance markets and adverse selection. Regulation and private information. Signaling. Screening mechanisms. 5. Incentives and human resources management. Selection. Internal labor markets. Incentive payment. Performance evaluation. Job design. Incentive pay for teams and team production. 6. Corporate governance. Separation of property and control. Interest conflicts in corporations. Financial structure and incentives. Signaling and finalcial decisions. Corporate control. Equity pay. 7. Modern organizational trends. History of organizational forms. Vertical boundaries of the firm. Strategic alliances and networks. Information technologies and the modern firm. Innovation and organization.
Tipus d’activitat Hores amb professor Hores sense professor Total Anàlisi / estudi de casos 2,00 4,00 6,00 Sessió participativa 4,00 4,00 8,00 Total 6,00 8,00 14
David Besanko, David Dranove, Mark Shanley, Scott Schaefer (2004). Economics of Strategy. Wiley. James Brickley, Clifford Smith, Jerold Zimmerman (2004). Managerial Economics and Organizational Architecture. McGraw Hill. Paul Milgrom, John Roberts (1992). Economics, Organization and Management. Prentice Hall.
Activitats d'avaluació: Descripció de l'activitat Avaluació de l'activitat % Besides some lectures at the beginning of the course in which we present required material, much of the course will be devoted to the presentation and discussion of articles, either from the specialized press or from academic sources. Each year we update the collection of articles presented in class, so we keep at the boundary of knowledge in the area, and also we discuss topics that are currently being publicly debated. Students are encouraged (though not obligatorily required) to present and discuss articles in class. (The presentations need not be in English, as long as the language used is commonly understood.) Those students that do so will have a bonus towards the final grade. 20 Along the course we will regularly have (multiple choice) tests that will refer to the material recently covered in class. The course grade will be the average of the results of those tests (excepting that test in which each student has performed worse, which will not count towards the grade). Wrong answers are penalized, but in a lower percentage than would correspond if we apply the usual criterion of leaving a person who answers randomly with an expected grade of zero. 80
Along the course we will regularly have (multiple choice) tests that will refer to the material recently covered in class. The course grade will be the average of the results of those tests (excepting that test in which each student has performed worse, which will not count towards the grade). Students who have participated in in-class presentations will have also a bonus added to this average. Those students who have not obtained the minimum grade, or those wishing to improve their grade, may also take a final exam. The final grade will be the maximum between the above mentioned course grade and the result of the final exam. For those who take the make-up exam in September, the grade will correspond entirely to the result of that exam.
The articles to be discussed in class will be posted in the course webpage. Suggestions from students are also welcome.