Type: Compulsory | ECTS: 7.5

Course aim and description

This course aims

a) At a multidimensional interconnection of Economics with Business Administration through the decision-making process. The aim of this course is to help students be able to make and implement business decisions with the help of financial models, methods and tools.

The business world needs executives who are flexible, who understand the fundamentals of business, who can think in different ways and who can respond positively to change. Understanding Economics will help in this direction and generally in the complete understanding of the possibilities and limits of economic methodologies and how they can affect business behaviour.

The objective of the course is to familiarize participants with basic entrepreneurial knowledge and mindset following the life cycle of a business venture from idea to implementation.

b) At providing students with an essential insight into best practices and risks of modern entrepreneurship and the knowledge and skills required to start up and operate a new business in the modern era. 

During the course, students will appreciate the importance of innovation and entrepreneurship and understand the factors that are relevant to the success of a business, in newly established or existing business units with emphasis on small and medium-sized enterprises.