The course focuses on key economic concepts and provides students with the tools to develop a sound business strategy. Armed with general principles and based on a game-theoretic mindset, students learn about the fundamental laws of business gravity and competition. This enables them to analyze and develop organizational and tactical strategies to adapt their company's business strategies to the demands of the ever-changing environment. Whether it's pricing, product portfolio design, or advertising campaign planning, a competitive advantage is only sustainable if it can survive in a dynamic competitive environment and integrate competitor reactions into the strategic planning process.
Limit: 40 students (first come, first served).
Course description for study year 2023-2024. Please note that changes may occur.
On completion of the course, students will gain knowledge in:
Utilizing fundamental statistical concepts, methods, and data to gain insights
Basic game theory
Basic proficiency in Excel
Upon completion of this course, students will be able to:
Determine a demand function through linear regression
Perform basic profit-optimization in Excel
Apply basic concepts of managerial economics to real business problems
Understand and apply basic pricing strategies
Optimize advertising tactics and budgets
Perform industry analysis
Determine competitive advantage
Apply basic game theoretic concepts to analyse competitive dynamics
Use Excel to run a basic methods of business analytics
Required prerequisite knowledge
Introduction to statistics and economics.
Term paper and school exam
Form of assessment
Term paper in groups
The final grade is based on a group project and a final individual exam. No re-sit. The term paper (45%): work in group of 3-4 students. Due at the end of the term.Individual digital written exam (55%).
Assignments, Attendance 80%
The assignments are given in forms of individual practice questions or group work.
In this course, you will learn through a mixture of traditional lectures, instruction videos, learning sessions, Excel sessions, and individual study. Lectures provide the basic theoretical and analytical concepts, while both learning and Excel sessions will be problem/project-based in interactive and collaborative settings.
There must be an early dialogue between the course coordinator, the student representative and the students. The purpose is feedback from the students for changes and adjustments in the course for the current semester.In addition, a digital course evaluation must be carried out at least every three years. Its purpose is to gather the students experiences with the course.