Duration: 3 hours per week - 13 weeks [ECTS: 6]

Course outline

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•    Why do firms exist? Theoretical approaches and historical challenges
•    The historical evolution of business forms: capitalist and cooperative firms and the institutional framework
•    The firm in orthodox — neoclassical — views
•    The firm in heterodox views: institutional, evolutionary theory and Marxist critique
•    Theory of the innovative firm
•    The cooperative firm and critical approaches to it
•    Challenges for firms: governance, evolution, social contract and internationalization
•    Theoretical approaches to small and medium-sized and family firms and the challenges they face
•    Challenges for public and state-owned enterprises
•    Theories of entrepreneurship
•    Entrepreneurship, innovation and place: innovation clusters
•    Policies for firms and entrepreneurship

Learning outcomes

The course focuses on developing a solid scientific understanding of the firm and entrepreneurship. Its aim is for students to develop critical capacity to comprehend the challenges in the contemporary economy and production, and to link the theoretical background of economic science with theories and practice in business strategy and management.

After successfully completing the course, students will be able to:
•    Understand the historical development of business forms.
•    Know the different theoretical approaches to the firm and to entrepreneurship.
•    Understand the basic analytical tools and concepts of various approaches.
•    Understand the evolving challenges for doing business, for firms, for management science, and for policy.
•    Assess the significance of recent changes, such as technological shifts and the climate crisis.
•    Evaluate relevant policies in the context of economic theories.