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Economics and Management

  • ECTS credits

    4 credits

Prerequisites

Learning objectives

  • Understand what a business is: its environment, functions, structure and organisation
  • Understand the role and general principles of economics
  • Master the basic models of economics (microeconomics and macroeconomics) and know their limits
  • Know how to apply economic theory to contemporary issues
  • Understand how to extract information on a company and its functioning via its accounting data
  • Understand the need for homogeneity in accounting rules for better comparability of companies over time and between them
  • Understand what constitutes the governance of a company, strategic management and grasp the issues at stake
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Description of the programme

The teaching unit is divided into three complementary blocks: an introduction to economics; an introduction to accounting; and an introduction to business organisation and management. Each of the three parts will follow the following outline:

Introduction to Economics

  1. The scientific approach in economics
  2. Economic decision making
  3. The market as interaction
  4. Exercises on pricing and taxes (Tutorials 1 & 2)
  5. Externalities: introduction to environmental economics
  6. Public goods and positive externalities
  7. Exercises on environment and innovation (Tutorials 3 & 4)
  8. Risk and time: an aperitif in finance
  9. Growth and demand in factors: an introduction to macroeconomics

Accounting and management
1. Introduction: Generalities on the different accounting systems
2. Accounting data and budget forecasting: general accounting
3. Management decision support: cost accounting
4. Investment choices and financial analysis: corporate finance
5. Serious game

Organisation and management of the company
1. Corporate culture, ethics and governance
2. The company: environment, structure, functions and organisation
3. Corporate Responsibility: Security; Social and Environmental Responsibility

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Generic central skills and knowledge targeted in the discipline

  • Know how to model economic decision making.
  • Know how supply and demand form, and interact on the market depending on its structure.
  • Understand the effect of externalities on economic equilibrium and know to correct them.
  • Understand how economic forces and choices can lead to growth.
  • Know how to finad information on the profitability and the financial health of a company.
  • Know the difference between investment and operating costs
  • Know how to evaluate the expected profitability of an investment
  • Knwo how to build an estimated budget
  • Identify the key elements of the organizational culture of a firm and its corporate governance rules.
  • Know how to interpret the strategic choices of a firm and its operational consequences.
  • Understand the main functional areas of business, the way they are structured and how they behave and evolve.
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How knowledge is tested

  • Tutorial in economics: 17%
  • Exam in economics (1:30): 33%
  • Serious game in accounting: 17%
  • Exam in accounting (1:30): 33%
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Bibliography

  • Ebook « L'économie » de CORE Econ : https://www.core-econ.org/the-economy/fr/
  • Acemoglu, D., Laibson, D., and List, J. (2017) Economics, Global Edition. Pearson.
  • Marcus, J. and van Dam, N. (2019) Handbook Organisation and Management : a practical approach. 
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Teaching team

Renaud Bourlès (Economie)
Nicolas Clootens (Economie)
Cécile Loubet (Comptabilité)
Florian Magnani (Gestion de l'entreprise)
Françoise Perrin (Comptabilité)
External speakers

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Sustainable Development Goal

  • Eradicating poverty

  • Affordable and clean energy

  • Reduced inequalities

  • Climate action

  • Partnerships for the goals

  • Total hours of teaching72h
  • Master class24h
  • Directed work24h
  • 18h
  • Practical work6h