5164 - ECONOMICS OF THE FIRM
Go to class group/s: 31
Class 31: DA DEFINIRE
Introduction to the course:
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 will be 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 organizational structure of firms and delineate the main interpretations and related conceptual tools
Course Content :
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 vertical 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
- 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 - Via Gobbi, 5 - 3rd floor.
There will be a written intermediate test and a final written examination.