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Course 2005-2006 a.y.

5164 - ECONOMICS OF THE FIRM


CLEA - CLAPI - CLEFIN - CLELI - CLEACC - DES - CLEMIT - DIEM - CLSG
Department of Economics

Course taught in English


Go to class group/s: 31

CLEA (6 credits - I sem. - AI) - CLAPI (6 credits - I sem. - AI) - CLEFIN (6 credits - I sem. - AI) - CLELI (6 credits - I sem. - AI) - CLEACC (6 credits - I sem. - AI) - DES (6 credits - I sem. - AI) - CLEMIT (6 credits - I sem. - RR) - DIEM (6 credits - I sem. - AI) - CLSG (6 credits - I sem. - AI)
Course Director:
LUIGI ORSENIGO

Classes: 31 (I sem.)
Instructors:
Class 31: LUIGI ORSENIGO


Course Objectives

The course  aims at providing and discussing the fundamental concepts that might explain the essential features of the structure of the modern firm and their evolution over time. Specific attention is devoted to issues like corporate governance, innovation, internationalisation of firms, emergence of  network-like forms of organisation. 
The course is divided into four main parts that trace the evolution of the organisational structure of firms and delineate the main interpretations and related conceptual tools.


Course Content Summary

Part I - Introduction

  • The textbook theory of the firm
  • The emergence of large corporations: from the managerial theories of the firm to Chandler

Part II - Firms, markets and contracts

  • The firm as an organisation: from Coase to Williamson to contract theory
  • Firms as a nexus of contracts: The HGM approach
  • The separation between ownership and control: the principal - agent problem and the institutions limiting managerial discretion

Part III - The behavioural approach to the (innovative) firm

  • Firms, information and knowledge
  • Bounded rationality,  routines, competencies and capabilities
  • Organisational learning and innovation

Part IV - Alternative organisational structures of the firm: division of labour, specialisation, networks and vertical integration

  • The evolution of the vertically integrated innovative firm
  • The multinational corporation
  • The American firm vs. the Japanese firm (Aoki)
  • Networks of innovators, joint ventures, markets for technology
  • Small firms and industrial districts: from Fordism to Post-Fordism
  • New forms of internationalisation of large and small firms

Detailed Description of Assessment Methods

There will be a 1st partial written exam and a 2nd partial written exam.


Textbooks
  •  J. TIROLE, Industrial Organization, The Theory of Industrial Organization, MIT Press (chapter 1).
  •  R. LANGLOIS, P. ROBERTSON, Firms, markets and economic change: a dynamic theory of business institutions, London, Routledge, 1995.
  • Further material will be indicated during the course.

For further and continuously updated information consult the  IEP web site or contact  S.I.D. - Servizio Informazioni Didattica - Institute of Economics - via Gobbi, 5 - Room 313.

Exam textbooks & Online Articles (check availability at the Library)
Last change 24/06/2005 00:00
 

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