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.
Please note: This minor is not for Economics and Business Economics students.
What can you expect in this minor? In Principles of Corporate Finance (EC2PCF, period 2, timeslot A) 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.
The second course Strategy and Organisation (ECB1SO, period 4, timeslot AD) 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.
Subsequently, you can choose two out of three elective courses.
Management Accounting and Corporate Decision Making (ECB2FIV, period 4, timeslot C) 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 (ECB2MKT, period 3, timeslot AD) 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.
Economics of Entrepreneurship (ECB2ECE, period 3, timeslot C) will introduce you to the evolutionary and Austrian approach to economics in which equilibrium is abandoned and we look at economic dynamics as the result of competition and innovation. The course will be centered around the entrepreneur as the agent of change and driver of economic dynamics.
You will learn about key theoretical approaches from macroeconomic, microeconomic and institutional economics perspectives related to entrepreneurship.
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).
- Principles of Corporate Finance (EC2PCF, period 2, timeslot A)
- Strategy and Organisation (ECB1SO, period 4, timeslot AD)
Elective courses (choose two out of three)
- Management Accounting and Corporate Decision Making (ECB2FIV, period 4, timeslot C)
Expected knowledge before the start of this course: Subjects Conceptual Framework , Recording Business Transactions, Accrual Accounting), Liabilities, Stockholders’ Equity and Cash flows from the book ‘W.T. Harrison, C.T. Horngren, C.W. Thomas, W.M. Tietz & T. Suwardy (latest edition), Financial Accounting, IFRS. Pearson.’
- Marketing (ECB2MKT, period 3, timeslot AD)
- Economics of Entrepreneurship (ECB2ECE, period 3, timeslot C)
Due to changes in the Economics and Business Economics bachelor’s programme the minor Business Economics has been changed. Students that are enrolled in the minor Business Economics before or in the academic year 2020/2021 can complete their minor according to the old program: namely the compulsory courses Introduction to Finance and Accounting, Stategy & Organization, Principles of Corporate Finance and as elective Marketing or Management Accounting or they can choose to follow the new program.
If you have any questions and/or comments, please contact the Study Advisors of U.S.E.