Learning objectives
The overall goal is to provide students with a solid basis in the foundations and trends of entrepreneurship, and its role in our current society. At the end of the course the student is able to:
- Discuss key views on entrepreneurship
- Understand what characterizes/incentivizes entrepreneurs and explain the role of entrepreneurship in society
- Apply concepts taught in class to ongoing discussions in business, media and politics
- Analyze and critically evaluate research contributions in the field of economics of entrepreneurship
The course contains the following academic skills:
- Academic reasoning and working
- Thinking conceptually, thinking in terms of theory.
- Asking critical questions, having a curiosity-driven and critical attitude.
- Analysing questions from different perspectives.
- Academic research
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Contents
This course will introduce students to the evolutionary and Austrian approach to economics in which equilibrium is abandoned and we look at economic dynamics as the result of competition and innovation. The course will be centered around the entrepreneur as the agent of change and driver of economic dynamics.
Students will learn about key theoretical approaches from macroeconomic, microeconomic and institutional economics perspectives related to entrepreneurship. Key insights that will come to the fore include:
- What is the role of entrepreneurs in the economy and society at large? How does entrepreneurship drive processes of innovation and disruption?
- What incentivizes people to opt for starting and growing a business?
- What are typical types/forms of entrepreneurship (e.g. social, corporate, spinoff), what technologies do they use and what predicts entrepreneurial success?
- What is the role of learning, education, networks, human capital and academia in shaping entrepreneurship and innovation?
- How do formal and informal institutions influence the selection of people into productive entrepreneurship? Specifically, there is attention for the role of regional entrepreneurial ecosystems in shaping the choices of individuals to become entrepreneurs.
- How can entrepreneurship contribute to achieving the Sustainable Development Goals?
These topics call for a multidisciplinary approach, including elements of evolutionary economics economic history, psychology, sociology and geography. Real-world perspectives are a central part of this course as the content will be linked to practical examples and discussions in the news, during both lectures and assignments.
Positioning in the bachelor
This course builds on various first year’s courses (most notable microeconomics, macroeconomics, strategy and organization) and includes elements of statistics and mathematic modeling. It equips the students with basic knowledge that will be widened and deepened in follow-up courses in the entrepreneurship learning track.
Format
The format consists of regular lectures, guest lectures, and tutorial classes. Active tutorial participation and contribution to class discussions are critical for learning in this course. Before the exam, a question and answer session will be organised to help preparation.
Effort requirements
Students are required to have participated in at least 80% of all lectures and tutorials. Next to that they must have handed in all assignments on time.
Students are expected to have knowledge of:
- Macroeconomics, Microeconomics, Strategy & Organization
- This course forms a solid basis for the entrepreneurship learning track and complements the course Essentials of Entrepreneurship that focuses on theoretical approaches from business economics and other academic perspectives on business modeling and entrepreneurial skills.
Courses that build on this course
- Corporate Entrepreneurship and Innovation (ECB3CEI)
- Market Dynamics and Corporate Innovation (ECB3DSM)
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