Modulhandbuch (Module manual)

M.184.4173 Economics of Strategy
(Strategic Management)

Koordinator (coordinator):	Prof. Dr. Wendelin Schnedler
Ansprechpartner (contact):	Dilan Okcuoglu (dilan.okcuoglu[at]uni-paderborn.de)
Credits:	10 ECTS
Workload:	300 Std (h)
Semesterturnus (semester cycle):	SoSe
Studiensemester (study semester):	1-4
Dauer in Semestern (duration in semesters):	1

Lehrveranstaltungen (courses):
	Nummer / Name (number / title)	Art (type)	Kontaktzeit (contact time)	Selbststudium (self-study)	Status (P/WP) (status)	Gruppengröße (group size)
a)	K.184.41731 / Economics of Strategy	Vorlesung			P
Wahlmöglichkeiten innerhalb des Moduls (Options within the module):
Keine

Empfohlene Voraussetzungen (prerequisites):
Knowledge of microeconomics, basic knowledge of game theory and some knowledge of optimization is highly recommended.

Inhalte (short description):
The main objective of this course is to introduce students to the core issues involved in the strategic decisions that a firm might take. The focus will be on the economic principles behind such decisions, which range from acquiring a supplier to product differentiation or designing incentives in order to increase employee performance. By strategy, it is meant decisions made within the firm, but also as a result of the market conditions in which it competes, that would help the firm achieve its long-term goals. Therefore, it is important to understand the internal organisation of the firm as well as how it can position itself in response to its competitors within certain market dynamics. It should be emphasised that the main approach of the course is economics, with the exception of a few topics where the focus is more on the organisation of the firm. Although the discussion will mainly focus on understanding the economic principles behind certain strategic decisions using game theory and economic models, the course also aims to integrate case studies where these principles are applied. The topics covered are similar to those covered in typical courses such as Industrial Organisation and Managerial Economics. Some of these topics include economies of scale, competition, price discrimination, incentives, structure of the firm and more.

Inhalte (short description):

The main objective of this course is to introduce students to the core issues involved in the strategic decisions that a firm might take. The focus will be on the economic principles behind such decisions, which range from acquiring a supplier to product differentiation or designing incentives in order to increase employee performance.

By strategy, it is meant decisions made within the firm, but also as a result of the market conditions in which it competes, that would help the firm achieve its long-term goals. Therefore, it is important to understand the internal organisation of the firm as well as how it can position itself in response to its competitors within certain market dynamics. It should be emphasised that the main approach of the course is economics, with the exception of a few topics where the focus is more on the organisation of the firm. Although the discussion will mainly focus on understanding the economic principles behind certain strategic decisions using game theory and economic models, the course also aims to integrate case studies where these principles are applied. The topics covered are similar to those covered in typical courses such as Industrial Organisation and Managerial Economics. Some of these topics include economies of scale, competition, price discrimination, incentives, structure of the firm and more.

Lernergebnisse (learning outcomes):

Fachkompetenz Wissen (professional expertise):
Studierende... are familiar with some of the strategic decisions firms make understand and discuss certain economic principles and models like economies of scale, incentives, market power and competition, price discrimination etc. understand and discuss how those principles are applied in those strategic decisions understand and discuss major types of organizational forms understand and discuss the relationship between these structures and strategy
Fachkompetenz Fertigkeit (practical professional and academic skills):
Studierende... understand and identify the strategic nature of a decision in a real life example detect main elements of the economic models discussed in the lecture in this decision
Personale Kompetenz / Sozial (individual competences / social skills):
Studierende... discuss course content and selected case studies with the lecturer and the other participants. defend their opinions in front of the class.
Personale Kompetenz / Selbstständigkeit (individual competences / ability to perform autonomously):
Studierende... understand theoretical models and their relationship to practice understand why certain strategies may suceed (or fail)

Prüfungsleistungen (examinations)
Art der Modulprüfung (type of modul examination): Modulabschlussprüfung
	Art der Prüfung (type of examination)	Umfang (extent)	Gewichtung (weighting)
a)	Klausur	150	100.00 %

Studienleistung / qualifizierte Teilnahme (module participation requirements)
Nein

Voraussetzungen für die Teilnahme an Prüfungen (formal requirements for participating in examinations)
Keine

Voraussetzungen für die Vergabe von Credits (formal requirements for granting credit points)
Die Vergabe der Credits erfolgt, wenn die Modulnote mindestens „ausreichend“ ist

Gewichtung für Gesamtnote (calculation of overall grade)
Das Modul wird mit der Anzahl seiner Credits gewichtet (Faktor: 1)

Verwendung des Moduls in den Studiengängen (The module can be selected in the following degree programmes)
M.Sc. Betriebswirtschaftslehre M.Sc. International Economics and Management M.Sc. International Business Studies M.Sc. Management M.Sc. Management Information Systems M.Sc. Wirtschaftsinformatik M.Sc. Wirtschaftspädagogik

Umfang QT (participation requirements):

Lernmaterialien, Literaturangaben (learning material, literature):

Teilnehmerbegrenzung (participant limit):
Keine

Sonstige Hinweise (additional information):
The language of the instruction is English. Please contact to Dilan Okcuoglu Celik: dilan.okcuoglu@uni-paderborn.de for information.

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