Contract Strategy (IND530)

The objective of the course is that students shall acquire fundamental knowledge of the design of incentives and contracts, for use in e.g. employment and procurement. Acquire multi-disciplinary insight in the contract design - from the perspectives of law and economics. Among the topics covered are contract strategy, price formats and incentive contracts, incomplete contracts and renegotiation, asymmetric information, optimal strategy for procurement. Procurement systems in the private and public sector. Lectures are based on case studies. No compulsory term paper.


Course description for study year 2023-2024

Facts

Course code

IND530

Version

2

Credits (ECTS)

10

Semester tution start

Spring

Number of semesters

1

Exam semester

Spring

Language of instruction

Norwegian

Offered by
Time table

View course schedule

Content

Contract strategies, price formats and incentive contracts. Incomplete contracts and renegotiation. Asymmetric information. Optimal procurement strategy. Procurement systems in the private and the public sector. Auction theory. Outsourcing. Contract principles are applied on cases.

Learning outcome

Knowledge

  • Contract strategies, price format and incentive contracts. Incomplete contracts and renegotiation. Asymmetric information. Optimal strategy for purchasing. Procurement systems in the private and public sector. Auction theory. Outsourcing. The contract principles are applied to cases, such as procurement in the private and public sector and the design of incentive contracts.

Skills

  • Tools for designing systems for incentives in different contexts
  • System design for complex purchases

General competence

  • A basic understanding of negotiations and incentives

Required prerequisite knowledge

None

Exam

Form of assessment Weight Duration Marks Aid
Written exam 1/1 4 Hours Letter grades None permitted

Course teacher(s)

Course coordinator:

Petter Osmundsen

Head of Department:

Tore Markeset

Method of work

Lectures in Norwegian.

Overlapping courses

Course Reduction (SP)
Contract Strategy (IND530_1) 5
Contract Strategy (MIN130_1) 5
Contract Strategy, Contract Strategy ( IND530_1 MIN130_1 ) 10
Contract law (IND540_1) 5

Open for

Industrial Economics - Master of Science Degree Programme Industrial Economics - Master of Science Degree Programme, Five Year

Course assessment

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.

Literature

The syllabus can be found in Leganto