Guía Docente 2019-20
BUSINESS WORKSHOP I

BASIC DETAILS:

Subject: BUSINESS WORKSHOP I
Id.: 30407
Programme: GRADUADO EN ADMINISTRACIÓN Y DIRECCIÓN DE EMPRESAS (BOE 26/11/2010)
Module: MÓDULO TRANSVERSAL
Subject type: OBLIGATORIA
Year: 2 Teaching period: Primer Cuatrimestre
Credits: 6 Total hours: 150
Classroom activities: 72 Individual study: 78
Main teaching language: Inglés Secondary teaching language: Castellano
Lecturer: MUÑOZ YANGÜELA, IÑIGO (T) Email: imunoz@usj.es

PRESENTATION:

The subject Game Theory aims to study the behaviour of individual agents when their utility depends not only on their own actions, but also on the actions of the other agents in the game. This subject studies the possible combinations and outcomes that may happen in any of these games when the agents act rationally and predictably.

One of the main targets of this course will be to understand that the Game Theory has multiple applications, and has been used in making business, economic, political and even military decisions. It is a very useful tool when we try to understand the human behaviour.

Students will have to understand the value of Game Theory, being able to solve the problems and the cases, and to create new ones using the tools provided by this subject. In sum, they will have to demonstrate knowledge of Game Theory, as well as of its tools.

Finally, we will made an introduction of Behavioural Economics theory and how our decisions are affected by social and psychological influences, as well as a rational calculation. We will play games demostrating how irrational can become given specific circunstances.

PROFESSIONAL COMPETENCES ACQUIRED IN THE SUBJECT:

General programme competences G01 Ability to analyse and summarise information from several sources.
G02 Creative and efficient resolution of problems that arise in day-to-day, in order to ensure the highest levels of quality of professional work.
G03 Ability to organise and plan the work in the context of continuous improvement
G04 Use of information and communication technologies
G05 Ability to work effectively in interdisciplinary teams, integrating and participating in scientific and professional teamwork, contributing ideas and respecting and valuing the diversity of views of other team members.
G06 Ability to incorporate ethical principles into the professional culture, giving priority to ethical commitment to customers and society.
G07 Ability to work in an international context and innovate and adopt new approaches used in other national contexts.
G09 Oral and written communication in English in academic and professional contexts.
G10 Ability to apply the acquired knowledge, adapting it to the needs and special features of each situation and person.
G11 Ability to come up with new ideas (creativity).
G13 Ability to develop learning strategies throughout life to be able to acquire new knowledge, by developing their own academic and professional path.
G14 Oral and written communication in native language and in English, according to the needs of their field of study and the demands of their academic and professional environment.
G15 Ability to establish and meet the most appropriate quality criteria and apply methodologies and work strategies geared towards continuous improvement.
Specific programme competences E01 Understand the specific aspects of the operation, management and control of the different functional areas of the company.
E02 Know and understand the local, national and international socio-economic context in which the companies operate and be able to interpret its impact on them.
E03 Ability to apply the acquired knowledge of the functional areas of the company and the socio-economic environment.
E04 Ability to identify related variables and understand their impact on business organisations.
E13 Know the decision making processes in terms of policy and business strategy.
E14 Understand the principles of business ethics and be able to design scenarios in which these principles can be put into business practice.
E15 Propose, plan and lead business innovation projects that ensure the competitiveness of the company.
Learning outcomes R1 Express themself confidently in an English language business environment.
R2 Prepare and give a presentation in English.
R3 Work as a member of a group in order to solve business related challenges.
R4 Use a broad English vocabulary and speak English with improved fluency.
R5 Analyze a business related problem and offer constructive solutions.
R6 Prepare a business plan.

PRE-REQUISITES:

Although there are no compulsory pre-requisites, it is highly advisable to have attended the course of mathematics. We will use some mathematical concepts but the Subjet is focus on concepts and strategic thinking.

SUBJECT PROGRAMME:

Subject contents:

1 - Introduction to Game Theory
    1.1 - Introduction
    1.2 - What is a ?game??
    1.3 - Introduction to Game Theory
    1.4 - Different types of Games
2 - Static Games. Complete Information
    2.1 - Introduction
    2.2 - Dominance
    2.3 - Nash Equilibrium
    2.4 - Mixed Strategies.
3 - Dynamic Games. Complete Information
    3.1 - Introduction
    3.2 - Backward induction
    3.3 - Extension of dymanic games
    3.4 - Other issues related to dynamic games. Application to a Business Plan
4 - Cooperation
    4.1 - Reasons for cooperation
    4.2 - Factors influencing cooperation
    4.3 - Commitment
5 - Uncertainty. imperfect information
    5.1 - Static Games. Auctions
    5.2 - Dynamic Games. Uncertainty
6 - Behavioural Economics
    6.1 - Economics and Behaviour
    6.2 - Motivation and incentives
    6.3 - Quick thinking and Risky choices

Subject planning could be modified due unforeseen circumstances (group performance, availability of resources, changes to academic calendar etc.) and should not, therefore, be considered to be definitive.


TEACHING AND LEARNING METHODOLOGIES AND ACTIVITIES:

Teaching and learning methodologies and activities applied:

The main methodologies used in this course will be:

- Theoretical presentation of the main aspects of the subject. These explanations will be accompanied by practical exercises to reinforce the knowledge. In any case, the active participation of students will always be encouraged.

- Two practical cases to be solved individually at home and in class

- Two practical cases to be solved in groups at home and in class

- Presentation of these cases in class. Students must present these cases in class to their counterparts if so required by the teacher, being able to answer their questions.

- Group coursework (Business Lab ADE USJ):

(a)       Teaching and Learning Methodologies and Activities

The main purpose of the Business Lab is to introduce students to the reality of business, from day one ( or from the start), providing them with the opportunity of working in a team and identifying problems, taking decisions, providing solutions and developing contingency plans for real problems.

These activities have the ultimate purpose of developing the social and technical abilities of the students, as well as improving  their performance and  creating a personal imprint that will provide them with a competitive advantage when faced with the work market.

The activities will be very varied, from the resolution of cases to visiting companies or attending seminars, always providing solutions to real problems.

The students will have to attend a number of activities, which will be planned in advance, and which will be developed through the term. All the activities will have a common theme.

The activities will be evaluated in the following way:

(1)          As an integrated activity of team work with the percentage established in the assessment of the subject.

(2)          With a mark of 0 - 0.75 given for the presentation and oral defence of the team´s conclusions to a panel of experts selected by Business Administration and only if the results are at least a “pass” (acceptable). This mark will be added to the mark of the final exam.

The presentation will take place in December.

 

 

Student work load:

Teaching mode Teaching methods Estimated hours
Classroom activities
Master classes 31
Other theory activities 4
Practical exercises 16
Practical work, exercises, problem-solving etc. 7
Debates 4
Coursework presentations 6
Assessment activities 4
Individual study
Tutorials 4
Individual study 44
Individual coursework preparation 13
Group cousework preparation 13
Recommended reading 4
Total hours: 150

ASSESSMENT SCHEME:

Calculation of final mark:

Final exam: 50 %
Individual coursework 2: 15 %
Individual coursework 1: 10 %
Group coursework 1: 10 %
Group coursework 2 (Business Lab ADE USJ): 15 %
TOTAL 100 %

*Las observaciones específicas sobre el sistema de evaluación serán comunicadas por escrito a los alumnos al inicio de la materia.

BIBLIOGRAPHY AND DOCUMENTATION:

Basic bibliography:

Osborne, M.J. (2009) An Introduction to Game Theory. International Edition, Oxford University Press.
Pérez, J., Jimeno, J.L. and Cerdá, E. (2013) Teoría de Juegos, 2ª Ed. Edit. Garceta
Baddeley, M (2017)Behavioural Economics: A Very Short Introduction. Oxford University Press.

Recommended bibliography:

Dixit, A. K. y Skeath (2004) Games of Strategy, 2ª Ed. Nueva York: W. W. Norton
Harrington, J. (2008) Games, Strategies and Decision Making, Worth Publishers
Ochs, J. (1995) Coordination problems, in Handbook of experimental economics (John H. Kagel and Alvin E. Roth, eds.) 195-251. Princeton: Princeton University Press
Watson, J. (2008) Strategy: An Introduction to Game Theory, 2ª Ed. Nueva York: W. W. Norton
Ariely, Dan (2017) Las trampas del Dinero. Ariel

Recommended websites:

Game theory www.gametheory.net
Game Theory Society www.gametheorysociety.org
Cleverism https://www.cleverism.com/applied-game-theory-day-day-business-operations/