Course content
Economics of information and organization in relation to digitalization, (e.g. introduction of machine learning, datafication) form the core of this course. The course will start by presenting a number of theories from industrial organisation and business economics that are prominent for managing information, efficiently, and for analysing business strategies in the digital technologies enviroments. Then, selected issues with wide impact on organizational decision making, firm’s strategy and market analysis will be presented. Indicative examples include pricing of information goods, auction design, the firm as a nexus of contracts, the role of dynamic capabilities in digital environments, and managerial cognition for strategy making in digital environments.
Taking these topics as points of departure the course will address some fundamental economic issues for digital technology industries such as: How do firms compete with different digital technologies? How do firms exploit their strategic resources in digital environments? How can information use generate the maximum value for the customers in digital marketplaces? How can firms use information to maximise the value from contacts with other firms? What is the role of big data in managerial cognition? How do business analytics improve strategy making?
During the course the students will develop analytical skills and abilities to assess industry and market developments due to digitalization, and thereby, improve their capabilities to engage in individual and group decision-making under uncertainty and solve specific business problems. Upon completion of the course the students will be able to develop and present concrete solutions to industry and market problems and advise firms about how to deal with digitalization challenges and opportunities.
See course description in course catalogue