This course concentrates on the economic and financial theories of business valuation. Despite the extensive literature on corporate finance, accounting, economics, management, and mathematics, two fundamental principles of business remain poorly understood: the definition of the firm and the determination of its value. This course will be divided into two main parts to address these gaps. The first part will focus on the existing theories of business and firm value, along with the real-world challenges faced by business managers, investors, and entrepreneurs. The second part will discuss the economic and financial theories of business valuation, which form the basis for three approaches to business valuation.