An Exam-length Essay (1200 words) - 20%
An end of semester Examination - 80%

A review of the neoclassical theory of the firm. Team Production, agency theory, transaction costs and property rights, corporate governance. These theoretical approaches will be elaborated and developed in close conjunction with applied economic studies, for example, in "make or buy" strategies, contract compliance, contract incompleteness, etc.

1. DEMONSTRATE A SYSTEMATIC UNDERSTANDING OF THE BROAD DEVELOPMENTS IN THE CURRENT ECONOMICS OF FIRMS, MARKETS AND CONTRACTS
Analysis
Knowledge & Understanding

2. DEVELOP CRITICAL ANALYTICAL SKILLS, INCLUDING MATHEMATICAL PRESENTATION, TO INTERPRET THE LATEST DEVELOPMENTS IN THE KEY AREAS OF THE LITERATURE
Analysis
Problem Solving

3. CRITICALLY EVALUATE RECENT APPLIED STUDIES WITH REFERENCE TO EMPIRICAL EVIDENCE Application
Learning

The module will consist of weekly two hour classes which will introduce students to the main topics of the subject. Students spend their independent study, reading appropriate theoretical and empirical articles to develop their depth and breadth of understanding. Each week, one or more students will be expected to make class presentation and lead the discussion on specific topics allocated to them in advance. Weekly discussions will concentrate on seminal papers of the subject.

Library

FOR INTERNATIONAL COLLABORATIVE PARTNERS ONLY

Hart, O. (1995). Firms, Contracts and Financial Structure. Oxford: OUP.
Hendrikse, G. (2003). Economics and Management of Organisations. McGraw Hill.
Kreps, DM. (2004). Microeconomics for Managers. NY. WW Norton & Co.
Milgrom P and Roberts J. (1992). Economics, Organization and Management. Englewood Cliffs NJ : Prentice Hall