The course presents and builds on the fundamentals of economics, with a focus on the business sector. It aims to provide students with comprehensive knowledge of how the business actor functions. The course explores interactions between organisations and the economic environment, addresses the problem of resource allocation, and the consequences of business decisions. The course provides a platform for students to improve analytical skills in practice, understand the behaviour of economic actors, explore alternatives for making business decisions, and pursue establishing a dynamic way of thinking. It helps to develop an analytical approach to the issues and problems faced by business organizations. It provides students with tools and techniques to make informed contributions to debates, negotiations, and joint decision-making.
Business economics (MAGABAN-BUSECONO-1)
Basic data
Instructors
Course objectives
Course content
Lectures
Fundamental issues in business economics and management with a multidisciplinary pespective: the context of the enterprise, the main goals and objectives of enterprises and their functioning, stakeholders, issues of management and leadership, organizational structures, the interactions with the external and internal environment of the firm, the functioning and core activities of corporate operation (marketing, innovation, human resource management, information management, logistics, production and service management, financial management), as well as the role of the business model and strategy design.
Seminars
Analysis of business reports of corporations, news in the media, fundamentals of competitive strategic planning.
Acquired competences
Knowledge
Knowledge - Has knowledge of the basic, comprehensive concepts, theories, facts, national economic, and international connections of economics, regarding the relevant economic actors, functions, and processes. - He is aware of the basic principles and methods for the creation of organizations and institutions, their structure, and organizational behavior. - Knows and understands the principles and methods of management, organization and operation of management processes, the methodology of analysis of management processes, the methodological bases of decision preparation, and decision support. - Has basic management and organizational skills, as well as project and small and medium-sized enterprise start-up, start-up, and management knowledge. - Possesses the basic professional vocabulary of economics in his native language and at least one foreign language.
Skills
Abilities - Plans, organizes economic activities, projects, manages and controls small businesses and economic organizations. - By applying the learned theories and methods, he uncovers, organizes, and analyzes facts and fundamental relationships, formulates independent conclusions and critical comments, prepares decision-preparatory proposals, makes decisions in routine and partially unknown - domestic and international - environments. - Able to determine the complex consequences of economic processes and organizational events. - Able to cooperate with representatives of other fields. - Takes part in projects and group task solutions, and after gaining practical knowledge and experience leads, organizes, evaluates and controls the activities as a leader. - Able to manage a small and medium-sized enterprise or an organizational unit in a business organization after gaining practical knowledge and experience.
Attitude
Attitude -For the sake of quality work, he demonstrates a problem-sensitive and proactive attitude, constructive, cooperative, and initiator in projects and group assignments. - Is open to changes in the broader economic and social environment of the given job, work organization, or enterprise, and strives to follow and understand the changes. - Strives for life-long learning both in the world of work and outside of it.
Autonomy and responsibilities
Autonomy and responsibility - Under general professional supervision, independently performs and organizes the tasks specified in the job description. - Assumes responsibility for analyses, conclusions, and decisions. - Independently leads, organizes, and manages an organizational unit, workgroup, enterprise, or smaller economic organization in a business organization, assuming responsibility for the organization and its employees. - Organizes, manages, and controls economic activity in a business organization, in an economic job role according to his qualifications. - As a member of projects, group work, and organizational units, he carries out his assigned tasks independently and responsibly.
Additional professional competences
Not relevant.
Requirements, evaluation and grading
Mid-term study requirements
- 70% class attendance - Active class participation - Analyze a selected business case of a selected firm with a focus on a strategic challenge, within the context of the mission, vision, strategy, business model, organization, financials, stakeholders, and CSR of the company. Present the main findings of the analysis jointly with classmates at the annual AGTECO conference of the University. Active contribution to the presentation and the follow-up discussion is required.
Exam requirements
Prepare a full report on the business analysis of the selected business case: 7-12 pages, including charts, tables, and references.
Generative AI usage
Use of GAI tools is fully permitted, provided their use is properly cited and does not compromise achieving the learning outcomes defined in the course description.
Study aids, laboratory background
Selected case studies
Readings
Compulsory readings
Boddy, David (2014): Management – An Introduction. 6th Edition. Pearson. ISBN: 9781292004471 https://renessans-edu.uz/files/books/2023-11-02-04-24-48_3f0885a960b571da772ca5d747505c35.pdf Bodie, Z., Kane, A., & Marcus, A. (2014). Ebook: Investments-global edition. McGraw Hill. Meyer, R. E., Leixnering, S., & Veldman, J. (2022). The corporation: Rethinking the iconic form of business organization. Emerald Publishing Limited.
Recommended readings
Boddy, David (2014): Management – An Introduction. 6th Edition. Pearson. ISBN: 9781292004471 https://renessans-edu.uz/files/books/2023-11-02-04-24-48_3f0885a960b571da772ca5d747505c35.pdf Bodie, Z., Kane, A., & Marcus, A. (2014). Ebook: Investments-global edition. McGraw Hill. Meyer, R. E., Leixnering, S., & Veldman, J. (2022). The corporation: Rethinking the iconic form of business organization. Emerald Publishing Limited.