Code:

BERMASC014

Study year:

2007 – 2008

Long name:

Applied microeconomics: Organizations and Incentives

ECTS:

3

Language:

English

Lecturer(s):

Prof. dr. D. Yermack

Contact person:

Ingolf Dittmann

Coordinator:

Ingolf Dittmann

Faculty:

ESE

Number of lectures:

6

Hours per lecture:

3

Goal:

Students will study topics organizational design, focusing upon the relations between managers, lenders, share owners, employees, and other groups. Classes will explore the strengths and weaknesses of important papers in these areas, while also identifying opportunities for doctoral research. The material will be presented in an interdisciplinary framework, integrating issues arising in economics, finance, accounting, and law.

Course contents:

Major topics will include agency costs, the theory of the firm, executive compensation, spinoffs and related corporate restructurings, financial distress, and insider trading. Lectures will focus on published academic papers but will also highlight the importance of the course topics in real-world business settings. Evaluation will be based upon a written take-home exam which will include data exercises and written critiques of research papers drawn from relevant areas.

Examination:

to be announced

Literature:

A collection of leading theoretical and empirical papers in economics and finance.