F1-3:
Managerial Economics

Short description

Objectives

The participants:

- will be introduced to the main concepts and the scientific methodology of business administration,

- will acquire knowledge needed for differentiating possible social, legal and political frameworks of companies,

- will understand the key corporate functions in their basic features,

- will understand the organization principles of an economic activity,

- will be capable of understanding basic corporate decisions and strategies, and

- will be able to understand the relationship between decision-making process and financial results.

Target Attendees / Participants

Students of Steinbeis Master of Business Administration

Course Content by Units

Subject and methods of business administration:

- Tasks and models of business administration

- Fundamentals of economics in companies

Introduction to fundamentals and frameworks of entrepreneurial activities:

- The economic order of social market economy

- Fundamentals of the tax system

- Fundamentals of corporate rules

Business accounting:

- Overview

- Financial Accounting vs. cost accounting

- System of financial accounting

- The annual financial statements: balance sheet and income statement

- Objectives and elements of controlling

- Basic concepts of cost accounting

Corporate structure and processes (organization):

- Overview

- Forms of corporate structures

- Working in projects

Teaching Methods

Classic lecturing

Free and interactive class discussion

Literature

P. Farnham (2014): Economics for managers, 3rd edition, Pearsons.

P. Krugman, M. Obstfeld, M. Melitz (2001): International Economics: Theory and Policy, 9th Edition, Addison-Wesley.

N.G. Mankiw (2011): Principles of Economics, 6th Edition, South-Western College Pub.

P. Samuelson, W.D. Nordhaus, (2009): Economics, 19^th Edition, McGraw-Hill Education.