General description
This course introduces the basic principles of economics and management focusing on technological topics and technical companies. The course is divided into two parts: The first part focuses on introducing to the student the concept of management and its importance in organizations and stages of development of management science and its intellectual schools, and effective management tools for technology. It also explains practical steps to take administrative decisions and administrative functions and how they are practiced by the directors in organizations in planning, decision-making, organization, leadership, communication, and monitoring. In addition to understanding how to analyse each component of the product in order to know whether it adds enough value that justifies its cost, this is known as analysing the value chain. The second section seeks to define the economic behaviour of organizations and the consequent behaviour of that on resource utilization, create opportunities for employment, increase incomes and raise the level of well-being; in addition to understanding the nature of the economic problem, production capabilities, fundamentals of demand and supply, the price system, price flexibilities, patterns of microeconomic markets for traditional and technological goods (especially the full competition market) and their productive and pricing decisions.