Global Strategy: On-site syllabus - Carey Business School



Global Strategy2 CreditsBU.151.620.XX [NOTE: Each section must have a separate syllabus.][Day & Time / ex: Monday, 6pm-9pm][Start & End Dates / ex: 8/20/18–10/15/18][Semester / ex: Fall 2018][Location / ex: Washington, DC]Instructor[Full Name]Contact Information[Email Address][Phone Number, ###- ###-#### (Optional)]Office Hours[Specify the day and time of the 2 hours that will be dedicated to office hours each week. For evening classes, faculty may wish to hold their office hours by phone or email. While faculty are permitted to state “and by appointment,” office hours should not be held exclusively by appointment.]Required Texts & Learning MaterialsKrugman, P., Melitz, M., & Obstfeld, M. (2014) International economics: Theory and policy, 10th ed. Addison-Wesley Longman, Inc. ISBN 978-0-13-342364-8. (henceforth, KMO)Additional required readings are detailed in the Course Calendar below.The instructor may disseminate lecture notes and other learning material in class.Recommended Text(s)Navaretti, G. B., & Venables, A. (2004). Multinational firms in the world economy. Princeton, NJ: Princeton University Press. (henceforth, NV). Chapters required for the course will be in e-reserves, 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 imports.Understand the sources of opportunities and threats due to globalization on domestic and foreign markets.Understand the aggregate impact of individual firms’ decisions.Relate real world examples of multinational choices to motives for market access and cost reduction.Understand the sources of interconnectedness between different countries.Formulate conjectures on the impact of environment changes on the behavior of international competitors.To view the complete list of the Carey Business School’s general learning goals and objectives, visit the Carey website.Attendance Your success in this course hinges on your active engagement, which, at a 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 ObjectivesWeightTests1–642%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 as determined by the instructor. The grade of A- is awarded only for excellent performance. The grades of B+, B, and B- are awarded for good performance. The grades of C+, C, and C- are awarded for adequate but substandard performance.?The grades of D+, D, and D- are not awarded at the graduate level (undergraduate only). The grade of F indicates the student’s failure to satisfactorily complete the course work.Please note that for Core and Foundation courses, a maximum of 25% of students may be awarded an A or A-; the grade point average of the class should not exceed 3.3. For Elective courses, a maximum of 35% of students may be awarded an A or A-; the grade point average of the class should not exceed 3.4. (For classes with 15 students or fewer, the class GPA cap is waived.)Tentative Course CalendarThe 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): sections 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):Sections 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.Disability Support ServicesAll students with disabilities who require accommodations for this course should contact Disability Support Services at their earliest convenience to discuss their specific needs. If you have a documented disability, you must be registered with Disability Support Services (carey.disability@jhu.edu or 410-234-9243) to receive accommodations. For more information, please visit the Disability Support Services webpage.Academic Ethics PolicyCarey expects graduates to be innovative business leaders and exemplary global citizens. The Carey community believes that honesty, integrity, and community responsibility are qualities inherent in an exemplary citizen. The objective of the Academic Ethics Policy (AEP) is to create an environment of trust and respect among all members of the Carey academic community and hold Carey students accountable to the highest standards of academic integrity and excellence.It is the responsibility of every Carey student, faculty member, and staff member to familiarize themselves with the AEP and its procedures. Failure to become acquainted with this information will not excuse any student, faculty, or staff from the responsibility to abide by the AEP. Please contact the Student Services office if you have any questions. For the full policy, please visit the Academic Ethics Policy webpage.Student Conduct CodeThe fundamental purpose of the Johns Hopkins University’s regulation of student conduct is to promote and to protect the health, safety, welfare, property, and rights of all members of the University community as well as to promote the orderly operation of the University and to safeguard its property and facilities. As members of the University community, students accept certain responsibilities which support the educational mission and create an environment in which all students are afforded the same opportunity to succeed academically. Please contact the Student Services office if you have any questions. For the full policy, please visit the Student Conduct Code webpage.Student Success CenterThe Student Success Center offers free online and in-person one-on-one and group coaching in writing, presenting, and quantitative courses. For more information on these services and others, or to book an appointment, please visit the Student Success Center website.Other Important Policies and ServicesStudents are encouraged to consult the Student Handbook and Academic Catalog and Student Services and Resources for information regarding other policies and services.Copyright 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 Academic Ethics Policy. ................
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