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Academic Year 2003/2004
The Economics of Organization
ECON 220 SP
Why do business firms or other organizations exist? Why do organizations undertake some activities internally and why do they contract other activities out to markets? Since Nobel Luareate Ronald Coase asked these
questions
in 1937, economists have put forward a variety of answers. This course examines some of these, including monitoring and measurement costs, moral hazard, asset specificity, and economic capabilities. The course will pay
special attention to non-profit organizations and to the organization of networks of professionals (like doctors and lawyers).
MAJOR READINGS
Louis Putterman and Randall Kroszner, eds., THE ECONOMIC NATURE OF THE FIRM: A READER, New York: Cambridge University Press, second edition, paperback, 1996.
Journal articles to be announced, including many available
on the web.
EXAMINATIONS AND ASSIGNMENTS
One in-class mid-semester exam and a final exam.
Two assignments: Students will work in teams of two or three (depending on enrollment) to lead an in-class discussion from the readings in a professional seminar
format. After the discussion, the
same team will write a 3-5 page summary of the material and the questions that were raised in class.
Industry study/term paper: Students will each choose and industry, organization or profession -- current or
historical -- and anlayze it using the
concepts that we will learn during the semester.
COURSE FORMAT:
Lecture/Discussion
REGISTRATION INFORMATION
Level:
UGRD
Credit:
1
Gen Ed Area Dept:
SBS ECON
Grading Mode:
Student Option
Prerequisites:
(ECON111 AND ECON112) OR ECON105 OR ECON112
Links to Web Resources For This Course.
Last Updated on MAR-19-2004
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