The objective of this course is to equip participants with the essential knowledge and skills to understand and apply the organizational economic principles and methods to real-world situations. By the end of the course, participants will be able to:

• Explain the role and functions of incentives and organization in a modern economy
• Apply the main models and frameworks of organizational economic analysis
• Assess the determinants and implications of different incentive schemes and organizational forms
• Evaluate the effects of various organizational practices (e.g., delegation, monitoring, evaluation, compensation) on efficiency and welfare
• Discuss the current trends and challenges facing organizational economics in the context of globalization, digitalization, and innovation

By taking this course, participants will benefit from:

• Gaining a comprehensive and up-to-date understanding of organizational economics
• Developing analytical and critical thinking skills to deal with organizational issues
• Enhancing their professional competence and confidence in the economic sector
• Expanding their network and learning from peers and experts in the field

Day One:

Introduction to Organizational Economics

• What is organizational economics and why does it matter?
• What are the main goals and challenges of organizational economics?
• What are the key concepts and principles of organizational economics?
• What are the main sources of data and information on organizational economics?

Day Two:

Agency Theory

• What is agency theory and how does it model incentive problems?
• What are the main types of agency problems (e.g., moral hazard, adverse selection)?
• How can contracts be designed to align incentives between principals and agents?
• How do contracts depend on observability, verifiability, risk aversion, or information asymmetry?

Day Three:

Contract Theory

• What is contract theory and how does it model contractual relationships?
• What are the main types of contracts (e.g., complete vs. incomplete, formal vs. relational)?
• How can contracts be enforced or renegotiated?
• How do contracts affect investment incentives or bargaining power?

Day Four:

Property Rights Theory

• What is property rights theory and how does it model ownership rights?
• What are the main types of property rights (e.g., private vs. public vs. common)?
• How do property rights affect incentives for production or innovation?
• How do property rights affect transaction costs or market structure?

Day Five:

Decision Theory

• What is decision theory and how does it model decision making under uncertainty?
• What are the main types of decision criteria (e.g., expected utility, maximin)?
• How do decisions depend on beliefs, preferences, or information?
• How do decisions affect outcomes or learning?

To enhance learning and practical application of concepts, the training course will use a combination of interactive lectures, case studies, group discussions, practical exercises, and real-world examples. Participants will also get the chance to collaborate on group projects and create action plans adapted to the needs of their respective organizations.