Organization of Firms

Description: Lecture, three hours. Enforced requisites: courses 11, 101. Enforced corequisite: course 106IL. Enrollment priority to Business Economics majors. Role of firms in traditional economic theory and modern developments in theory of firms. Topics include relationship between employer and employee, principal-agent models and moral hazard, formal versus relational contracts, successful firms as coherent systems of mutually supporting parts, property rights and asset ownership, boundaries of firms, employment versus independent contracting, internal organization of firms, role and levels of firm hierarchy. P/NP or letter grading.

Units: 4.0
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Overall Rating 3.8
Easiness 3.3/ 5
Clarity 3.8/ 5
Workload 4.0/ 5
Helpfulness 4.2/ 5
Most Helpful Review
Winter 2022 - This class has definitely been one of the most interesting econ classes I've taken so far at UCLA, and I learned a lot from it. I thought there was a good balance between the theoretical models as well as their applications, which was very nice, especially through the case studies with guest speakers. Your grade is based off of 3 homework assignments, 3 of 6 case study assignments, participation in the case studies, and the final (which is worth 50%). Content wise, there was definitely a lot of theoretical models that were covered early on within the first 5-6 weeks. Make sure to know those concepts really well and review them in discussion (go to Jake's discussions). I did think that Moritz wasn't a great lecturer and he wasn't always clear when explaining some models in lecture; I was fairly confused about that material until Week 7 or so. But going to discussions, solving questions from past finals, and doing the homework should clear that up. The homework assignments are very challenging, but he did emphasize that the exams would be much easier. The case studies were also fairly interesting and were pretty relevant to the lecture material, which was great. Some of the speakers were pretty awesome (especially once we switched back to in-person), but others weren't the best. The final wasn't the easiest (in my opinion, some of his past finals were way easier), but they were definitely doable with a little bit of reasoning and thought. The case study question on the final is practically a free 50 points out of 100. Make sure to repeatedly practice all the past finals, as they provide great practice for the exam. All in all , I do think this class was very well structured and you do get to learn a lot of interesting content in formal and applied setting, while being sufficiently challenged. I'd definitely recommend it to anyone interested in the topic.
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