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Economia dell'Impresa (GEST)
Business Economics
Donato Iacobucci

Seat Ingegneria
A.A. 2016/2017
Credits 9
Hours 72
Period I
Language ENG

Prerequisites
None

Learning outcomes
KNOWLEDGE AND UNDERSTANDING:
The course will enables students to acquire basic knowledge about corporate governance and the principles at the basis of major corporate decisions, such as production capacity, production volumes and investment projects. By integrating the knowledge gained from other courses of economics and business organization the course will increase the student's knowledge in the field of theories of models used in firm’s management. The course will also provide students with basic knowledge about the main types of markets and forms of competition and about the models explaining the behavior of firms within the different market contexts.
CAPACITY TO APPLY KNOWLEDGE AND UNDERSTANDING:
At the end of the course students will be able to correctly interpret the principles underlying the main corporate decisions. Students will acquire several specific skills, such as: 1. the ability to determine the cost and revenue functions in different decision-making contexts; 2. the ability to examine the financial statements for the assessment of firm’s performance; 3. the ability to apply the appropriate methodology for the economic and financial evaluation of investment projects.
TRANSVERSAL SKILLS:
During the course students are required to work in team solve a variety of business cases, referring to the entry in a market or the financial evaluation of investments. The teams are therefore required to present and discuss the results of their work in class. These activities will contribute to improve the degree of independent judgment, communication skills, and the ability of autonomous learning.

Program
The course is organized in three parts: 1) Organization and behaviour of firms: firms’ institutional and organizational forms, production funcions, cost functions, scale and scope economies. 2) Supply and demand functions, markets; elasticity of demand and supply; market failures; financial markets. - Firms strategy and market structures: firm's strategcy and pricing policy, perfect competition, monopoly, imperfect competition, oligopoly; industry analysis.

Development of the examination
LEARNING EVALUATION METHODS
The assessment of students' learning is attained by: 1) A written test, consisting of two/three open questions about the topics covered in the course and in the solution of two/three exercises. The duration of the test is about two hours. 2) An oral part, consisting in the discussion of the results of the written test and further questions on the topics covered in the course. Students cannot access the oral part of the exam if they have not passed the written test.

LEARNING EVALUATION CRITERIA
To successfully pass the final assessment, the student must demonstrate to know the concepts and models illustrated during the course.The student must also demonstrate the ability to solve simple exercises about business decisions.

LEARNING MEASUREMENT CRITERIA
A score is assigned to each of the questions and exercises. The sum of the points awarded to questions and exercises is equal to thirty. Scores will be based on the following criteria: a) the completeness and accuracy of the answer b) the development of arguments, c) the use of the appropriate terminology. The result obtained in the written test can be increased or decreased in the oral test by no more than three points.

FINAL MARK ALLOCATION CRITERIA
The outcome of the evaluation is positive when the student reach at least eighteen points out of thirthy. The highest rating is achieved by demonstrating a thorough knowledge of the content of the course.

Recommended reading
N. Gregory Mankiw, Mark P. Taylor, Andrew Ashwin - Business economics - Cengage Learning EMEA, 2013, Chapters 1-15

Courses

• Ingegneria Gestionale (Corso di Laurea Triennale Fuori Sede (DM 270/04))