Firm Analysis and Economics

Firm Analysis and Strategy (FAS):

It is an introductory plunge into Microeconomics. Microeconomics is the fundamental discipline (or “mother tongue”) of all business. Understanding basic microeconomic concepts allows managers to make better business decisions. Moreover, microeconomics represents the basis for developing understanding in several other business disciplines, including finance, strategy, and operations management.

Course Scope and Objectives :

The main objective of this course is to provide the tools that managers need to make economically sound business decisions and ultimately to identify and/or create sources of competitive advantage. The emphasis in the course is placed on how managerial action shapes and determines firm profitability.

A second objective of this course is to improve analytical thinking and problem-solving skills. I will use economic theory and apply it to real business situations through several articles taken from the popular business press.

Breif Description of the course:

This course will help participants develop better understanding of the following economic concepts:
• Economic costs
• Supply and demand and market equilibrium
• Pricing, price elasticities and price discrimination
• Firm profitability
• Firm entry and exit
• Market and Industry Organization
• Game Theory
• Firm Organization

This course will help participants with the following competencies:
• Applying economic theory to make better decisions in complex situations
• Improving strategic and systematic thinking
• Understanding the organization and its organizational context