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Entrepreneurship MN3194

This course is about entrepreneurship both from an economics and practitioners angle and shows how economics can contribute to our understanding of entrepreneurship.

The course also sheds light on the societal impact of entrepreneurship and its utility for economic development. It further provides practical elements such as developing business models, designing market research frameworks, product development cycles, and raising seed capital.

Prerequisites / Exemptions

Prerequisite: A course that you must have ordinarily attempted all elements of before you are permitted to register for another particular course.

If taken as part of a BSc degree, courses which must be attempted before this course may be taken:

  • MN1178 Business and Management in a Global Context

Topics covered

  • The History of Entrepreneurship
  • The Economics of Entrepreneurship
  • The Entrepreneurship Ecosystem
  • Social Entrepreneurship
  • Business Models & Ideation
  • Key Partners & Alliances
  • Key Activities as an Entrepreneur
  • Value Proposition (VP) & Unique Selling Proposition (USP)
  • Customer Development
  • Customer Relationships
  • Distribution Channels
  • Cost Structure
  • Revenue Streams
  • Finding Investment and Raising Finance
  • Intellectual Property and Legal Matters

Learning outcomes

  • Describe the theoretical insights and recent empirical findings of the economics of entrepreneurship
  • Explain how entrepreneurship drives economic change and growth
  • Outline the historical context and impact of social entrepreneurship 
  • Analyse viable business models 
  • Design market research frameworks, develop and evaluate business models


Unseen written exam (3 hrs).

Essential reading

  • Osterwalder, A and Y. Pigneur. Business Model Generation (John Wiley & Sons 2010) ISBN:978-0470876411
  • Osterwalder, A and Y. Pigneur. Value Proposition Design (John Wiley & Sons 2014) ISBN:978-1118968055
  • Mullins, J. The New Business Road Test: What entrepreneurs and executives should do before launching a lean start-up. (FT Publishing 2017) 5th edition
  • Acs, Z. and D. Audretsch. Handbook of Entrepreneurship Research: An Interdisciplinary Survey and Introduction. (Springer, 2011) 

Course information sheets

Download the course information sheets from the LSE website.