Economic Courses First Year: 1. Economics Principles (first semester) Second Year: 1. Introductory / Intermediary Macroeconomics (full year) 2. Managerial Economics (full year) Third Year: 1. Industrial Organization (economics) & Business Strategy (full year) 2. Macroeconomics (second semester) 3. Economics of Sports (first semester) 2
Why Study Economics (Quite Recent) Economics – possibly the only field that can potentially offer a unified framework for thinking systematically about real business decisions. Help understand how changes in the market / industry and the economy overall shape the fortune of the firm. Difficult to design optimal business strategies without a solid understanding of the economy – both at the micro and macro level. 3
Economics Courses The courses emphasize strategy design in practice, using a rich mix of up-to-date real case studies and theory. A twin approach: the courses and assessments are designed so that both students with math background and those with non-technical background can enjoy the courses, without any difficulty, and master the art of strategy design. The Beauty: A mix of theory and rich case studies. All economic courses enjoy dynamics syllabi! 4
Managerial Economics Theoretical framework Game theory and formal models of oligopoly markets Imperfect competition Economics of information & and decision making under uncertainty Advanced Pricing Strategies Strategic behaviour & non-cooperative game theory Signalling, Auctions & auction design Introductory topics on market design Firm organization, incentive systems & firm design Financial crisis and business strategy lessons Firm investment behaviour 5
Industrial Organization & Business Strategy Start-up, spinoffs & firm dynamics Mergers and acquisitions Cartels, Collusions, & Price wars Vertical integration & restraints Organizational Structure – advanced topics Advance topics on Firm Design Network Industries Multi-sided platforms Big Data, Analytics, IT, and Firm evolution Healthcare market design / Firm Design in Healthcare Financial market design / Firm Design in the Financial Sector The Market for ideas, patents & IP Industry evolution, corporate aging, corporate transformation 6
Intermediary Macroeconomics Basic Concepts Fundamental Questions Open economy model Business cycles – theory and stylized facts Theories of inflation, interest rates, and exchange rate Economic Growth – theory and stylized facts Unemployment Theories of financial crises Optimal Currency unions – the fate of Euro Monetary & fiscal policies 7
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