| source Norwegian School of Economics and Business Administration (X) |
level |
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There are many methods used to solve economic models and applications. These are based on the underlying characteristic of the problems studied. Even more efficient methods can be tailor made if further structure can be used. At the same time, it is necessary to have an understanding of the properties of the methods used and what type of solution quality that can be expected and what the computational time may be. The objective of the course is to understand a set of standard methods used, their characteristics and how to use standard commercial modeling languages.
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New course - description will be updated later
Score: 8.99874 Details | Listing | Web page
New course - description will be updated later
Score: 8.99874 Details | Listing | Web page
An owner or manager often leads small companies by telling employees what to do and how to do it - direct control. But when a company becomes bigger, it is no longer possible for owners or managers to be around everywhere all the time. Management will have to shift to giving objectives and frames of action - management control -to make sure that employees act in a coordinated way to create shareholder value.
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Interest in supply chain management, both in industry and in academia, has grown rapidly over the past several years. A number of major forces have contributed to this trend. First, in recent years it has become clear that many companies have reduced manufacturing costs as much as practically possible. Many of these companies are discovering the magnitude of savings that can be achieved by planning and managing their supply chain more effectively. At the same time, information and communication systems have been widely implemented, and provide access to comprehensive data from all components of the supply chain. Finally, deregulation of the transportation industry has led to the development of a variety of transportation modes and reduced transportation costs, while significantly increasing the complexity of logistics systems.
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The course takes a theoretical approach to the topic of "real investments" (as opposed to financial investments) of the firm; e.g. introducing a new product, adding a new facility or extraction of natural resources. The purpose is to increase the understanding of theory and methods of investment analysis, with an emphasis on problem solving.
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Simulation, i.e. the experimentation with a computer model of a real system in order to determine the effect of changes in the system, is the most widely used management science method in practice. The usage of simulation in business increases rapidly as the cost of doing calculations on a computer is cut in half every eighteen months. Simulation is in particular useful when the actual problem is characterized by uncertainty, e.g. as regards demand, technical development, delivery times, future interest and currency rates, etc.
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This course introduces students to the practice of auditing through the discussion of procedures used to audit accounting cycles; and to the profession of auditing through a discussion of principles used by the auditor in conducting an audit. Students learn how to perform an audit and acquire a thorough understanding of audit theory through class discussions and problem material. Current accounting scandals will be used to illustrate the principles discussed in class.
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The notion of revenue (or yield) management appeared first in the deregulated US airline industry, where it proved highly successful during the 1990s, and reformed the entire transportation and tourism industry. This and similar business strategies, which we will more generally refer to as dynamic pricing and revenue optimization, has also spread to telecommunications, broadcasting, ticketing, healthcare, fashion, manufacturing, etc. More recently, other applications of revenue optimization include internet companies practicing auctions or customized pricing for products, services or advertisement slots.
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The purpose of this course is to study the role of accounting information in financial markets and the different approaches researchers have taken when assessing this role. The information content of accounting measures such as earnings, cash flow, returns and residual income are studied analytically as well as empirically.
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The course aims to give the students extended knowledge of project organization and management in different contexts. The purpose is to provide a deeper portrait of the actors within and connected to the project and the roles they play, respectively. Another important aim of the course is to understand methods and techniques used for management control and performance measurements (traditional and process-oriented) that are used throughout the completion of projects.
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Efficiency analysis is an important tool in many industries, for many reasons. In regulated industries, e.g. electricity networks, railways or water utilities, public regulators must make decisions on price or revenue caps in order to prevent companies from excercising their monopoly power. These decisions cannot be made without a good understanding of the relative efficiency of the companies in the industry. In private sector industries, e.g. banking and retail, business managers use efficiency analyses in order to evaluate and improve the performance of different business units. Such analyses can also be useful for the business units that are being analyzed, since they may suggest how the units can become more efficient / profitable.
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The main topic of the first part is the theory and practice of constrained optimisation. After rehearsing the necessary mathematical tools, we focus on Lagrange´s technique to solve a maximisation (or minimisation) problem when side constraints need to be respected. We pay attention to the so called first and second order conditions of the problem, and a number of very useful by-products of Lagrange´s technique, such as maximal value functions, shadow prices and comparative statics.
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At the end of the course the students should be able to
Score: 8.99874 Details | Listing | Web page
Economic decisions are often based on the analysis of time series data. The purpose could be to investigate historical development, to forecast future development, to test an economic theory, to price a financial asset, to allocate a portfolio, to explain effects of an intervention of or changes in a policy variable or to control a dynamic system. This course gives an introduction in the statistical modelling and prediction of economic and financial time series.
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This course is a link between fundamental corporate finance (FIE402) and the more specialized courses in corporate finance (FIE426, ECO420, BUS425E). The topics in the course are broadly selected within both theoretical and empirical issues in corporate finance. The overall aim is to give the student deeper insight within broad areas of corporate finance. The specific topics are listed below.
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The course introduces students to advanced techniques for pricing derivative securities, using tools from continuous-time finance. The emphasis is on understanding unifying principles that can be applied to determine the price of simple as well as complex derivative securities. The associated techniques are the basic tools necessary to derive closed form formulas, such as the generalized Black-Scholes-Merton model. Many contracts do not, however, have prices that can be expressed in closed form, or for which it is very complex to derive closed forms. A second focus of the course is therefore on how to apply the pricing principles through simulation techniques.
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It is becoming increasingly more important for decision makers both in the private and the public sector to understand how economic integration and internationalization affect the strategic opportunities of countries as well as individual industries and firms. The main object of this course is to provide a thorough understanding of modern theory of international trade and foreign direct investments (FDI), with a particular focus on strategic interactions between firms and public authorities, nationally and internationally.
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This is a course in empirical analysis at the more advanced level. The course focuses on a number of selected topics. Spring 2009 the course will include (1) Productivity / Investment, (2) Labour force participation and wages, (3) Demand analysis, (4) Macro economics. The students are also supposed to work on an empirical project, and the result of this project will be presented towards the end of the course. The course gives the students a solid basis for practical, empirical analysis of economic questions and is therefore especially suitable for those students who want to write an empirical master thesis.
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The aim is to provide a basis in probability theory and stochastic processes of relevance to decisions under uncertainty, in particular in operations management, insurance, finance and macro economics. Topics in stochastic methods also provide a basis for those who contemplate to continue with doctoral studies.
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The objective is to make the students familiar with the theory of exploitation of renewable and non-renewable resources. This theory emphasizes two aspects, the intertemporal one and the strategic one. The intertemporal aspect is paramount in dealing with non-renewable resources where the problem is the allocation over time of a limited stock of an uncertain size. The intertemporal aspect also is important when dealing with issues of sustainability and the implications of non-renewable resources for economic growth. In this context the issue of green accounting will be discussed. The intertemporal aspect is not without interest either for renewable resources, but here one can usually concentrate on steady-state solutions.
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The purpose of this course is to give a solid introduction to the standard microeconomic theory and some of its recent developments. It should give an understanding of the main results in microeconomics, as well as provide the methodology that economic theory uses to study problems related to the behaviour of individual agents (consumers, business firms, and investors) and their interaction through markets and other social institutions.
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This course is designed to give first year Ph.D. students an introduction to a broad selection of topics in macroeconomics at a more advanced level. The course should give a good understanding of major issues in modern macroeconomics - and should provide the necessary background for other more specialized courses in various macroeconomic subfields.
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The goal of the course is to make students familiar with econometric techniques at an advanced level. The course provides a deeper understanding of modern econometric methods that are applied in many fields of economics. The course puts also strong emphasis on practical empirical exercises. The students obtain training in critically assessing studies, but also in doing advanced empirical studies with data which they are provided in class.
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The main topic of this course is the economics of the public sector. In consists of two main parts. In part one we will examine how government tax policies and expenditure decisions affect private sector behaviour. That includes the effects on labour supply, private saving and risk taking and the incidence of such policies. Part two deals with the normative aspect of public finance where one attempts to derive some simple criteria for government decision making. It deals with such issues as the optimal degree of progression of the income tax, the choice between direct and indirect taxation and pricing rules for public enterprises. It also examines criteria for optimal supply of public goods and how the resulting efficient provision compares with public goods supply in equilibria based on private provision.
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