Are you interested in the field of business? The minor Business Economics will provide you insights into the fundamental principles of business economics as well as a basic toolkit for an entrepreneur/manager to run a business. Topics cover the main fields of business economics: strategy and organisation, finance, accounting and marketing.
What can you expect in this minor? The first course Introduction to Finance and Accounting will give you insides on the production, presentation and analysis of corporate financial information for internal and external purposes. Internally, this information is essential for strategic decision making as well as performance evaluation. External stakeholders – investors, lenders, business partners, employees etc. – need periodic financial statements like balance sheet and income and cash flow statements to make sound judgments about the company’s health.
The second course Strategy and Organisation is a general introduction to theories, issues and special topics from the areas of corporate strategy, organisational economics, and corporate governance. It provides you a managerial view on decision making in the boardrooms of large firms (and occasionally small and medium sized enterprises). Special issues are industry analysis, competitive positioning, shareholder value theory, mergers, and organisational structure.
In Principles of Corporate Finance you will study two issues, relevant to a corporation. First, in which assets or projects should the corporation invest to increase shareholder and stakeholder wealth (capital budgeting decision). Second, how is the corporation going to fund these investments (financing decision), using equity, bonds, or bank loans and what is the price or return investors will require in return.
Subsequently, you can choose one out of two elective courses.
Management Accounting and Corporate Decision Making builds on the financial accounting course and focuses on the production and use of cost and revenue information, which is critical for successful management decisions regarding many corporate issues, like introducing a new product or service, maintaining existing product lines, the internal allocation of corporate resources and resizing divisions or departments and controlling costs.
Marketing is more than mere advertising or being creative. It will cover subjects as the marketing management process and market research, creating product offerings through product development and pricing strategies, delivering value through supply chain decisions and service strategies, and communicating to markets both through personal and impersonal media.
Elective courses: choose one elective
The entrance requirements for this minor are the entrance requirements of the chosen courses. Expected is knowledge of Mathematics at the level of the Dutch VWO-education (A of A1,2).