79588 - Crash Course in Strategic Management Economics

Learning outcomes

At the end of the course, the student has a basic knowledge of the general principles of the discipline, the methodological approach (scientific method, micro- vs macro-economics, etc), the analysis of the market equilibrium on a IS/LM and AS/AD models basis, the basic growth theory and a clear understanding of the impact of macroeconomic facts on business management. The course switches continuously between theory and practical applications and exploits the keys to understand economic news, interpret them in the IS/LM and AS/AD models and in the real world, keeping a business management perspective in order to plan actions through a SWOT.

Course contents

1.Introduction to the current status of Economics. Impacts on Management.
2.Scientific method and Economics. Micro vs Macroeconomics. Math brief recap. National Accounts basics (GDP, deflators, demand components definition) and applications. Impacts on Management.
3.The short run: IS/LM model in closed and open economies. Applications to today's crisis. Impacts on Management.
4.The medium run: AS/AD model and Phillips curve. Applications to today's crisis. Impacts on Management.
5.The long run: short introduction to Solow's growth model. Applications to today's crisis. Impacts on Management.
6.Wrap up and back to the current status of Economics for a final review through the lernt concepts and insights. Impacts on Management. Introduction to Strategy and Economics. SWOT analysis example.

Readings/Bibliography

Blanchard, Johnson / Macroeconomics - global edition, Pearson, 2013 (6th edition).

Some readings are suggested during the summer and before the beginning of the Crash Course:

Mike Rosser / Basic Mathematics for Economists

chapters 1 to 6, 8 and 14

Teaching methods

Lectures in class (sometimes with slides). Homeworks and review in class.

Teaching tools

Blackboard, slides, economic articles (The Economist).

Office hours

See the website of Francesco Bergamaschi