CBS Revamps Economics Curriculum, Bridging Managerial and Organizational Economics

Copenhagen, 10 June 2024: CBS's Department of Operations Management recently unveiled a revamped curriculum combining Managerial Economics (ME) and Organizational Economics (OE), aimed at integrating economic principles with organizational behavior. At a launch event for all teachers, presentations highlighted the curriculum's transition from foundational economic models to more complex organizational dynamics. The speakers emphasized the practical application of theories from Nobel laureates, equipping students with both theoretical knowledge and practical skills to tackle real-world business challenges.

27/09/2024

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The launch event was marked by presentations from Associate Professors Tamás Vámosi and Ivar Friis and Teaching Associate Professor Carsten Scheibye, who together outlined the transitions and improvements in the curriculum. Their discussions highlighted the path from basic economic models, where decisions are based on principles such as 'Marginal Revenue equals Marginal Cost' (MR=MC), to more complex organizational contexts involving principal-agent theory, decision rights and performance-based incentives.


In their presentations, they shared personal insights into the practical applications of these theories, and Ivar Friis emphasized the continuity from ME's focus on decision-making - often simplified in educational settings - to OE's comprehensive analysis of organizational dynamics and contract design, a field enriched by contributions from Nobel laureates such as Oliver Hart and Bengt Holmström.This new curriculum is designed to meet modern business education needs and is aligned with fundamental economic theory that has shaped academic and practical understanding of business today. Contributions from Nobel Laureates such as George Akerlof, Michael Spence, Joseph Stiglitz and Jean Tirole underscore the fundamental theories that are now being developed on a larger scale in the courses offered by the Department of Operations Management.

The new curriculum aims to equip students with a solid understanding of management and organizational economics, and to ensure that they are prepared to tackle real business challenges with a theoretical knowledge and practical application skills. This initiative marks a milestone in CBS's commitment to developing future leaders who are equipped to navigate the complexities of today's business environment.


 

Sidst opdateret: Department of Operations Management // 27/09/2024