International Bachelor Degree

Transcription

1 Aix--Marseille University Faculty of Economics and Business International Bachelor Degree Syllabus Fall Semester Draft. March 17, 2014

2 International Trade and Finance This course deals with economics of globalisation. The aim is to understand what determines the physical movements of goods and factor of productions (i.e. international trade) across countries and what determines the flow of savings and investments (i.e. international finance) from one country to another. Several themes are explored: the gains from trade, free trade agreements, current account deficit, the medium run prospects for exchange rates and the debate on global financial architecture following the financial crises. Textbook: Krugman, Paul, and Maurice Obstfeld. International Economics: Theory and Policy. Boston, MA: Addison Wesley, ISBN: Introduction 1. International trade 1.1. International trade and gains from trade (Ricardian model) 1.2. The specific factors model and the standard trade model 1.3. Globalization and inequality 1.4. Trade Policy Tariffs 2. Open economy and international finance 2.1. Trade and the current account Current account adjustment and real exchanges rates The foreign exchange market and currency speculation 2.2. Short-run adjustment and crises Money and exchange rates Macroeconomic model and exchange rate regimes Crises

3 Business Economics The focus of this course is to learn how applying tools developed in Microeconomic analyses to business related decisions can lead to better decisions. The tools we will develop in this course include marginal analyses, elasticity, decision makings under uncertainty, economics of information, and non-cooperative game theory.. Where appropriate, students will participate to class-room experiments to think harder about how to apply the tools. Reference (to be completed): David M. Kreps (2004) Microeconomics For Managers, W.W.Norton, New York, NY. 1. Introduction 2. Marginal thinking 3. Price elasticity, profit maximization, and price discrimination 4. Uncertainty, and risk sharing 5. Information problem 1: Adverse selection 6. Information problem 2: Incentives 7. Reciprocity and collusion 8. Credibility and reputation

4 Managing Global Organizations This course is conceived as an introduction to the field of MNC management and the new stakes MNCs face with globalization. Every part of the course is divided in two lessons, one addressing classical or mainstream analysis, the other one presenting critical management studies. For each lesson, students are invited to read at least one paper of the text book, either to prepare it on the basis of a case study or to sum it up with the help of a survey. The evaluation is based on a critical note on one of the papers. What is asked for is a short synthesis and the presentation of critical arguments related to the theoretical framework, the research design or its outcomes. 1. Introduction 2. Strategy 1. MNC strategies in a globalized world - Types of international strategies - Factors affecting competitiveness Text : Davies H., Ellis P. (2000) Porter s competitive advantage of nations. Time for the final judgement», Journal of Management Studies 37 :8 December. Videos : Porter s diamond (1 18) : http :// Porter interviewed by Harvard Business Review) (13 12) : http :// 3. Strategy 2. Global shareholding and global stakeholding - Global shareholding and decision-making - Global stakeholding affecting strategies - Green washing strategies - The question of Human Rights Texts : Doukas J., Travlos N. (1988) The effect of corporate Multinationalism on shareholder s wealth : evidence from international acquisitions, The Journal of Finance, Vol. 43, Issue 5, Dec., Waldkirch R. (2008) The Shareholder vs. Stakeholder Debate reconsidered, Wittenberg Center for Global Ethics, Discussion Paper n 2. Videos : BP greenwashing : Asia Pulp and Paper : John Ruggie on Transnational corporations and human rights:

5 4. Structures 1. Global organizations - Basic structures - Organizational change and design Text : Anne-Wil Harzing (2000) An Empirical Analysis and Extension of the Bartlett and Ghoshal Typology of Multinational Companies, Journal of International Business Studies, Vol. 31, No. 1 (1st Qtr., 2000), pp Structures 2. Transnational corporate governance - Corporate governance models - Internationalizing boards - Transnational interlocks Text: Staples C. (2007) Cross-Border Acquisitions and Board Globalization in the World s Largest TNCs, , The Sociological Quarterly. 6. Global innovation 1. Processes and models - The innovation process - Major trends and challenges in Global R&D - Organisation models of global innovation Text: Two Case Studies from Boutellier R., Gassmann O., Von Zedtwitz M. (2008), Managing Global Innovation, Springer, New York (3rd edition). 7. Global innovation 2. Coopetition and standardization - Coopetition - Standardization and forum-shifting strategies Text: Nalebuff, B. J., & Brandenburger, A. M. (1997). Co-opetition: Competitive and cooperative business strategies for the digital economy. Strategy & leadership,25(6), Global HRM 1. Cultural studies - Impact of societal culture on global management - Cultural models Text : Ryh-song Yeh (1998), On Hofstede's treatment of Chinese and Japanese values, Asia Pacific Journal of Management, 6(1): Video Hofstede s model: Power distance : 9. Global HRM 2. Critical studies - Types of HRM practices - Post-colonial studies Text : Boussebaa M., Sinha S., Yiannis G. (2014) Englishization in international business settings: A postcolonial perspective, Journal of International Business Studies, forthcoming. 10. Conclusion and final writing

6 Advanced Statistics The objective of this course is to prepare students to analyze economics or management issues using statistics. The student will develop knowledge to choose, apply and interpret appropriate measures or estimations to conduct his/her present and future analysis. The course covers: probability theory, sampling, estimation, hypothesis testing and regression analysis. The emphasis of the course is to understand the concept and the application of the tools rather than the mathematical mechanisms behind the tools. Therefore, the course highlights for example what the test is doing, when and how to use it more than the mathematical proofs underpinning the test. Reference (to be completed): Anderson D., D. Sweeney and T. Williams, Statistics for Business and Economics, Revised, South-Western, Cengage Learning, J. Wooldridge, Introductory Econometrics: A Modern Approach, South-Western, Fourth Edition, Probability 1.1. Bayes rule and decision analysis 1.2. Estimation: sampling distribution, estimators and key properties 2. Hypothesis test 2.1. t-test 2.2. Chi-square 2.3 ANOVA 3. Regression 3.1. Bivariate regression 3.2. Multiple regression

7 European competition policy Competition puts companies under high pressure to offer the best possible range of goods at the best possible prices. The objective of this course is to help the students to understand the linkages between competition policy and business strategies. Sometimes companies try to reduce competition. To preserve the well-functioning product markets, authorities like the European Union Commission correct or prevent anti-competitive behaviour. By combining modern trade theories and case studies on the EU, we will consider the following issues: what are the objectives and consequences of competition policies at the national and the supranational level? What are the appropriate activities to the private sector and what are those who necessitate active government involvement? What happens when firms try to reduce competition? How are trade restrictions resolved? We will also focus on issues related to firm s strategy in politically sensitive environments. Reference (to be completed): Belleflamme P. and M. Peitz, Industrial Organization: Markets and Strategies, Cambridge University Press, Lipczynski J., J Wilson and Goddard, Industrial organization: Competition, Strategy, Policy, Pearson, Cases in European Competition Policy : The Economic Analysis, edited by Bruce Lyons, Cambridge University Press, What is competition Policy? 2. Competition policy on agreements between companies that restrict competition 3. Competition policy on abuse of dominant position policies 4. Efforts to open markets up to competition

8 Applied Strategy (Business Simulation) The main objective of the course is to give to the students a helicopter view of what managing a company in a global environment means nowadays. Today s business world is ever more turbulent. It requires new types of behaviors, competitive strategies and measures of performance. Therefore, through this course, students are expected to get an overview of numerous fields of management: Analyzing competition on local and foreign markets, Defining and implementing a strategy, Creating value Measuring performances Negotiating in a global environment. Contents The course uses as a guiding thread a Business Simulation, NegoSim. With the NegoSim business simulation, students will practice decision-making and develop their business skills. They will have to manage a firm in a competitive and global environment in a value-creating framework. The NegoSim Business Simulation provides a unique learning opportunity to address those challenges and experience the many paradoxes modern leaders have to live with. The main features of the course are about: Excellence in day-to-day operations: managing business performance, managing its needs for financial resources, improving its market positioning, benchmarking to achieve superior performance. Value Creation: In NegoSim participating firms operate under the scrutiny of Financial Markets. Each period financial markets appreciate their competitive position and their capacity to expand into new businesses, the outcome of which being the firms share price. To seduce financial markets firms have to achieve Profitable Growth, the combination of superior profitability and the development of growth opportunities. The former requires students to manage their core business as efficiently as possible and leveraging their competitive advantage. To achieve the later, students will be confronted to the different dilemmas executives face when pursuing globalization: internal growth versus alliances, co-operation versus co-opetition. With many different possible growth strategies NegoSim provides quite a novel framework to experience those strategic dilemmas. Partnership: To develop their core business students will have to negotiate, in real time, alliances with other firms. This very special feature of NegoSim introduces a unique and exciting dimension to the managing process. They will have to choose which firms to partner with, the scope of each partnership and to keep the necessary coherence between all partnerships. Students will have to formalize the win-win situations they want to achieve, but they also experience the psychological dimension one encounters in any negotiation. It provides students with an opportunity to confront their mindsets, cultures and develop their negotiating skills.

9 Group work: Students will be split in different teams to manage the different firms in competition with each other. We have observed time after time that smooth group work is of the utmost importance in the firm s success. More than knowledge in Accounting, Finance, Marketing or Strategy it s the students capacity to draw synergies from their various experiences and backgrounds, to build upon their errors and to learn from each other which will determine their firm s performance. Reference (to be completed): Roux A. & Tabatoni O. NegoSim Executive Guide. WP Kim Chan W. & Mauborgne R. Blue Ocean Strategy, Harvard Business Press, Students, split in small groups (4 to 6 members), will have to manage their own company, different from the others. After each decision round, groups will be provided with their results and then work again in groups on their next decision. The module will extend over 8 weeks days, alternating Plenary Sessions, Group decision- taking sessions and Results-analysis sessions (Synthesis). During decision-taking sessions the professor will support the different groups, stimulating the group thinking and answering questions. Plenary sessions will address the following topics: - Financial Statements: Income Statement, Balance Sheet and Cash Statement, - Production Report and Cost - Firms Value - Firms Measure of performance - Value Creating Strategies - Growth Strategies - Value Innovation.

10 Project Management In this course we cover the basic tools and techniques of project management tailored for Small and medium-sized organisations. It provides students a practical understanding of successful project planning and management in a business environment. The course will help students to develop project management skills with the tools required to manage all phases of project including initiation, planning, executing, controlling and closing projects. The use of wide project management techniques will be covered. A large range of project management methods will be covered. Reference (to be completed): Avraham S., J. Bard and S. Globerson, Project Management, Pearson New International Edition, Duffy, M.G., Managing Projects: Expert Solutions to Everyday Challenges. Boston: Harvard Business School Press, Project management: basics 1.1. What is project management? 1.2. Project types and project phases 1.3. Knowledge areas and science of the project management 2. Initiating projects 2.1. Project sponsor 2.2. Project team and team dynamics 3. Planning projects 3.1. Project estimating and scheduling techniques 3.2. Risk planning method 3.3. Communications plan 4. Executing and Controlling projects 4.1. Team management 4.2. Control methods 5. Closing the projects

11 5.1. Customer acceptance 5.2. Completing a final report 5.3. Acknowledging successes and failures

12 Marketing The goal of this course is to give students a basic understanding of the marketing theory, concepts and management. By creating customer value and market place exchanges, marketing is at the core of operating companies. It represents a set of principles for relationships between customers, collaborators and competitors in a specific environment. Marketing starts by identifying consumers' needs, assessing the competitive environment, selecting the most appropriate customer targets, developing and implementing strategy. Thus, the course covers the theory and applications of marketing concepts through a mix of cases, discussions and the use (when its possible) of some quantitative approaches. Reference (to be completed): Kotler, Philip, and Kevin Keller. Marketing Management. 13th ed. Prentice Hall, Best, Roger J. Market-Based Management Strategies for Growing Customer Value and Profitability. 5th ed. Prentice Hall, Introduction of the marketing concept 2. Markets and their environment 3. Consumer decisions 4. Market segmentation 5. The marketing mix 6. Product policy 7. Pricing 8. Marketing communication 9. Distribution