Career Development and Lifestyle Planning



Global Strategy2 CreditsBU.151.620.XX [NOTE: Each section must have a separate syllabus.][Day & Time / ex: Monday, 6pm-9pm][Start & End Date / ex: 3/24/15-5/12/15][Semester / ex: Fall 2016][Location / ex: Washington, DC]Instructor[Full Name]Contact Information[Phone Number, (###) ###-####][Email Address]Office Hours[Day(s)/Times]Required Texts & Learning MaterialsKrugman, Paul, Melitz, Marc, and Obstfeld, Maurice. International Economics, Theory and Policy (10th ed. ISBN 978-0-13-342364-8): Addison-Wesley Longman, Inc. (henceforth, KMO)Additional required readings are detailed in the Course Calendar belowThe instructor may disseminate lecture notes and other learning material in classSuggested BooksNavaretti, Giorgio Barba, and Venables, Anthony. Multinational Firms in the World Economy: Princeton University Press. (henceforth, NV). Chapters required for the course will be in e-reserve, so you don’t need to buy it (unless you want to for personal enrichment)Course DescriptionThis course provides students with the conceptual tools necessary to understand and work effectively in today's interconnected world by developing strategic perspectives that link this changing environment, the state of the global industry, and the capabilities and position of the firm. The course provides frameworks for identifying and taking advantage of the opportunities presented in a dynamic global environment at the level of the country and industry. It then focuses on firm-level strategic choices regarding where to engage in which activities. Finally, it covers the challenges of integrating the multiple perspectives, functions, and interests that constitute the multinational firm.Prerequisite(s)NoneLearning ObjectivesBy the end of this course, students will be able to: Use economic theory to assess motives for firms’ exports and importsUnderstand the sources of opportunities and threats due to globalization on domestic and foreign marketsUnderstand the aggregate impact of individual firms’ decisionsRelate real world examples of multinational choices to motives for market access and cost reductionUnderstand the sources of interconnectedness between different countriesFormulate conjectures on the impact of environment changes on the behavior of international competitorsTo view the complete list of Carey Business School’s general learning goals and objectives, visit the Teaching & Learning@Carey website. Attendance Your success in this course hinges on your active engagement, which, at minimum, requires your regular attendance in-class and on Blackboard. I expect you to attend all 8 lectures. Attendance and participation are essential to your success (both in terms of grade and in terms of learning) in the course. You are responsible for all information covered in class, both substantive and administrative, and must glean that information from a classmate—not from the instructor. Participation includes students’ cooperation in the class discussions and lectures. Students are expected to show good behavior and attention to other students and to the professor. Assignments There will be 6 weekly assignments. The first assignment is due at the beginning of Week 2. Groups must be formed by 3 to 5 students. A written final exam in class will complete the evaluation.AssignmentLearning Objective(s)WeightTests1-642%Final Exam1-658%Total100%About class participation The ability to “think on your feet” and succinctly articulate your point of view is critical to entrepreneurs and, indeed, to any general manager. My classroom will provide a safe place for you to develop and hone these skills. If you are by nature a quiet person, please come talk to me and I’ll help bring you into the class discussions. I reserve the right to randomly call on students to make sure everyone is on the same page. Be prepared, as this is your opportunity to shine. GradingThe grade of A is reserved for those who demonstrate extraordinarily excellent performance. The grade of A- is awarded only for excellent performance. The grade for good performance in this course is a B+/B. The grades of D+, D, and D- are not awarded at the graduate level. Please refer to the Carey Business School’s Student Handbook for grade appeal information. Tentative Course Calendar**The instructors reserve the right to alter course content and/or adjust the pace to accommodate class progress. Students are responsible for keeping up with all adjustments to the course calendar.In the following calendar, required readings are indicated with (***) and (**), and optional readings are indicated with (*). Readings with (***) are core readings, and I suggest to read them before (**) readings. These are both required: there is only a difference in the order I suggest you to approach them. Optional readings, indicated with (*), are not required, as they are either technical or broader in scope: they are a good way to make your understanding deeper and wider, and to raise your evaluation in class participation; I encourage you to leave these readings as the last in your planned work.Week 1 ContentsSome facts on the global economyWhy technological differences induce trade: the Ricardian Model and the concept of Comparative AdvantageReadingsOn globalizationKMO, Chapter 2 (***)Baldwin, R. and Martin, P.: Two Waves of Globalization: Superficial Similarities, Fundamental Differences, NBER working paper 6904:Sections 1, 4.1, 4.2, 4.4, 6 (**)Sections 2, 3, 4.3, 5 (*)On technological differencesKMO, Chapter 3 (***)Slate Magazine: The Accidental Theorist, by P. Krugman Jan. 24, 1997 (**)The Economist: Not So Absolutely Fabulous, Nov. 4, 1995 (**)The Economist: An Angelic Mix, Oct. 1, 1998 (**)Week 2ContentsLabor abundant and capital abundant countries: the Heckscher-Ohlin ModelReadingsOn the Heckscher-Ohlin ModelKMO, Chapter 5 (***)Goldberg P., K., and Pavcnik, N.: Distributional Effects of Globalization in Developing Countries, Journal of Economic Literature, Vol. XLV (March 2007): section 1, 3, 5, 6 (**); rest of the sections (*)Week 3ContentsExternal economies of scale and international location of production Exchanging cars for cars: intra-industry tradeReadingsOn external economies of scaleKMO, Chapter 7 (***)On intra-industry tradeKMO: Chapter 8 (***)Bernard, A. B., Jensen, J. B., Redding, S. J., and Schott, P. K.: Firms in International Trade, Journal of Economic Perspectives, Vol. 21, N. 3, Summer 2007 (**)Goldberg, P. K., Khandelwal, A. K., Pavcnik, N., Topalova, P.: Imported Intermediate Inputs and Domestic Product Growth: Evidence From India, Quarterly Journal of Economics (2010) 125 (4):Section 1, 5 (**)Sections 2, 3, 4 (*)Week 4ContentsMultinational strategies, part 1: accessing product markets with horizontal FDIReadingsOn horizontal FDINV: Chapter 1: Sections 1.1, 1.2; Chapter 2 (***);NV: Chapter 3 (*) (Technical, read through trying to grasp the intuition only)The Wall Street Journal: Cemex Prowls for Deals in India and China, Jan. 27, 2006 (**)Businessweek: The Race for Numero Uno in Latin Wireless, Nov. 27, 2006 (**)Markusen, J. R.: The Boundaries of Multinational Enterprises and the Theory of International Trade, Journal of Economic Perspectives, Vol. 9, N.2, Spring 1995 (**) Financial Times: Brazilian paves way for China’s carmakers, Oct. 30, 2011 (**)Week 5ContentsMultinational strategies, part 2: fragmenting production around the world with vertical FDIReadingsOn vertical FDINV: Chapter 4 (*) (Technical, read through trying to grasp the intuition only) Offshoring of Goods and Services, Chapter 7 of “International Economics”, Feenstra, R. and Taylor, A., 2011 (**)The New York Times: An iPod Has Global Value. Ask the (Many) Countries That Make It, Jun. 28, 2007 (**)NV: Chapter 2 (**) Week 6ContentsMultinational strategies, part 3: contractual problems (hold-up, dissipation of assets, agency costs) and the international boundaries of the firmReadingsOn contractual problemsNV: Chapter 5: Introduction and Section 5.6 (***)Section 5.2, 5.4, 5.5 (*) (Technical, read through trying to grasp the intuition only)Week 7ContentsManagement, Culture, RegulationsReadingsBloom, N., and Van Reenen, J., Why Do Management Practices Differ across Firms And Countries? Journal of Economic Perspectives, Volume 24, Number 1, Winter 2010, Pages 203–224 (***)Bloom, N., Mahajan, A., McKenzie, D., Roberts, J.: Why Do Firms in Developing Countries Have Low Productivity? American Economic Review: Papers & Proceedings 2010, 100:2, 619–623 (**)The Economist: Beyond Economics, Feb. 10, 2011 (**)Guiso, L., Sapienza, P. and Zingales,. L. Cultural Biases in Economic Exchanges? , The Quarterly Journal of Economics, August 2009 (**)Week 8ContentsFinal Exam, in class (180 minutes)Carey Business School Policies and General InformationBlackboard SiteA Blackboard course site is set up for this course. Each student is expected to check the site throughout the semester as Blackboard will be the primary venue for outside classroom communications between the instructors and the students. Students can access the course site at . Support for Blackboard is available at 1-866-669-6138.Course EvaluationAs a research and learning community, the Carey Business School is committed to continuous improvement. The faculty strongly encourages students to provide complete and honest feedback for this course. Please take this activity seriously; we depend on your feedback to help us improve. Information on how to complete the evaluation will be provided toward the end of the course.Disability ServicesJohns Hopkins University and the Carey Business School are committed to making all academic programs, support services, and facilities accessible. To determine eligibility for accommodations, please contact the Disability Services Office at time of admission and allow at least four weeks prior to the beginning of the first class meeting. Students should contact Priscilla Mint in the Disability Services Office by phone at 410-234-9243, by fax at 443-529-1552, or by email. Honor Code/Code of ConductAll students are expected to view the Carey Business School Honor Code/Code of Conduct tutorial and submit their pledge online.?Students who fail to complete and submit the pledge will have a registrar’s hold on their account. Please contact the student services office via email if you have any questions.Students are not allowed to use any electronic devices during in-class tests. Calculators will be provided if the instructor requires them for test taking. Students must seek permission from the instructor to leave the classroom during an in-class test. Test scripts must not be removed from the classroom during the test.Other Important Academic Policies and ServicesStudents are strongly encouraged to consult the Carey Business School’s Student Handbook and Academic Catalog and Student Resources for information regarding the following items:Statement of Diversity and InclusionStudent Success CenterInclement Weather PolicyCopyright StatementUnless explicitly allowed by the instructor, course materials, class discussions, and examinations are created for and expected to be used by class participants only.?The recording and rebroadcasting of such material, by any means, is forbidden. Violations are subject to sanctions under the Honor Code. ................
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