Undergraduate Course: The Economics of Corporate Strategy (BUST10021)
Course Outline
| School | Business School |
College | College of Humanities and Social Science |
| Course type | Standard |
Availability | Available to all students |
| Credit level (Normal year taken) | SCQF Level 10 (Year 3 Undergraduate) |
Credits | 20 |
| Home subject area | Business Studies |
Other subject area | None |
| Course website |
http://www.bus.ed.ac.uk/programmes/ugpc.html |
Taught in Gaelic? | No |
| Course description | The course covers the economic principles of certain corporate strategies and their application. Topics include: vertical integration, transactions costs, agency problems, franchising, diversification, competitive advantage, innovation, strategy and structure. |
Information for Visiting Students
| Pre-requisites | Visiting students should have at least 3 Business Studies/Management courses at grade B or above (or be predicted to obtain this). We will only consider University/College level courses.
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| Displayed in Visiting Students Prospectus? | Yes |
Course Delivery Information
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| Delivery period: 2013/14 Semester 2, Available to all students (SV1)
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Learn enabled: Yes |
Quota: None |
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Web Timetable |
Web Timetable |
| Course Start Date |
13/01/2014 |
| Breakdown of Learning and Teaching activities (Further Info) |
Total Hours:
200
(
Lecture Hours 20,
Summative Assessment Hours 2,
Programme Level Learning and Teaching Hours 4,
Directed Learning and Independent Learning Hours
174 )
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| Additional Notes |
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| Breakdown of Assessment Methods (Further Info) |
Written Exam
80 %,
Coursework
20 %,
Practical Exam
0 %
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| Exam Information |
| Exam Diet |
Paper Name |
Hours & Minutes |
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| Main Exam Diet S2 (April/May) | | 2:00 | |
Summary of Intended Learning Outcomes
OBJECTIVES AND LEARNING OUTCOMES
Knowledge and Understanding
On completion of the course students should:
a) Be able to describe
- What determines the internal structure of the firm in relation to vertical integration and diversification;
- How both of these are largely determined by transactions costs;
- The factors that determine the type of pay structure for senior management;
- How transactions costs explain the decisions relating to franchising;
- The underlying factors affecting strategy in relation to differentiated products or cost advantage, and the implications for management style of these two directions;
- The factors which enable firms to remain profitable for relatively long periods, and those which give only temporary advantage;
- The issues that affect the speed and direction of innovation;
- And the way in which information asymmetry and the structure of the firm, in terms of vertical or horizontal integration, affects the managerial structure of the company.
Cognitive Skills
On completion of the course students should
a) be able to evaluate the rationale of the economic hypotheses behind corporate decisions, including being able to
b) detect assumptions, identify inconsistency in arguments and interpret empirical evidence;
c) be able to evaluate the appropriateness of the arguments to different situations;
d) be able to effectively and concisely communicate their ideas;
e) be able to efficiently read academic articles and synthesise the contents of a collection of references. |
Assessment Information
Assessment will be by degree exam (80%), essay (20%).
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Special Arrangements
| None |
Additional Information
| Academic description |
Not entered |
| Syllabus |
Not entered |
| Transferable skills |
Not entered |
| Reading list |
The course follows the textbook:
D. Besanko, D. Dranove, M. Shanley, S. Schaefer, Economics of Strategy, 5th Edition, Wiley, 2010. (Students are strongly advised to buy a copy of this outstanding text.)
Other useful reading:
1. Sharon M. Oster ( 1994 ) Modern Competitive Analysis, OUP, Oxford;
2. M. Porter (1985) Competitive Advantage, Free Press, New York;
3. H. Simon (1996) Hidden Champions Harvard Business School Press, Boston Mass;
4. R. Simons (1994) Levers of Control, Harvard Business School Press, Boston Mass.
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| Study Abroad |
Not entered |
| Study Pattern |
Not entered |
| Keywords | ECS |
Contacts
| Course organiser | |
Course secretary | Ms Patricia Ward-Scaltsas
Tel: (0131 6)50 3823
Email: Patricia.Ward-Scaltsas@ed.ac.uk |
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