PRINCIPLES OF ECONOMICS AND MARKETING
Knowledge and understanding: Students acquire depth and systematic understanding of knowledge in area of industrial economics and marketing and can work with theoretical background at the field of industrial economics and marketing and research-based knowledge at the forefront of their academic discipline.
Disciplinary methodologies: Students acquire sufficient insight into industrial economics and marketing and understanding of fundamentals techniques that are applicable to their own work area.
Applying knowledge and understanding:- Understand how and why to use of industrial economics and marketing for multiple goals within a larger strategy -Understand the major benefits and challenges of industrial economics and marketing - Learn to plan, develop, and evaluate -Learn how to measure firms’ activities and market scenario - Implement specific methods of analysis.
Making judgements: Ability to autonomously select relevant information useful for planning, controlling and decision making in the short, medium and long term.
Communication skills: Prepare and discuss reports for managers about planning, controlling and decision making in a business contest, using an appropriate and specific vocabulary.
Learning skills: Continuously increase and update the competences, knowledge and methods acquired for managerial decision making.
The course introduces several concepts belonging to industrial economics and marketing, such as demand and supply, economies of scale and scope, diversification and market segmentation.
• Basic concepts
o Variable and fixed costs, average and marginal costs
o Demand and supply
o Profits and incomes
o Net present value
• The evolution of firms
• The horizontal boundaries of firms: economies of scale and scope
• The vertical boundaries of firms
• Transaction costs
• Vertical integration and its alternatives
• Price dynamics
• Entry and exit from an industry
• Industry and market analysis
• Strategic position and competitive advantage
• Preserve your competitive advantage
ECONOMIA DELL'INDUSTRIA E STRATEGIE D'IMPRESA Seconda edizione
Authors: D. Besanko, D. Dranove, M. Shanley
The lecture will be a blending of the instructor presenting relevant material and a learning by doing of the students (case studies and exercises) in order to stimulate their critical thinking.
The assessment is based on an individual written test. The final written test, lasting approximately 1,5 hours, consists of both theory questions and practical exercises. The theory questions may be multiple choice, “true or false” and open question. The exercises have a structure that is similar to exercises carried out in classroom. The test is passed if the student reaches a score of at least 18 points. “30 cum laude” is given to students who achieve the highest score on each item and use precise vocabulary.
Participation in lectures is not compulsory.