EIB E200: Introduction to International Trade and Finance
Introduces, develops and applies basic economic concepts to areas of international finance and trade. Topics include the nature of the gains from free trade and the market forces that determine those gains, the impact of immigration and movements of capital, outsourcing, national policies that alter the pattern of trade, export subsidies in agriculture and other industries, currencies and the market forces that influence foreign exchange rates in the long run and in the short run, national and international wealth and income determination and policies, the gains from financial globalization, and exchange rate crises – when the system works and when it breaks. This is an introductory course in international economics for non-specialists. Spring semester. Richard A. Fey
EIB E201: Introduction to Economic Theory
This course provides the foundation of modern economics with an emphasis on its applications. Topics include demand and supply analysis, consumer theory, theory of the firm, welfare economics, monopoly and antitrust, public goods, externalities and their regulation, unemployment, inflation and economic growth, national income determination, monetary and fiscal policy. This is an introductory course for non-specialists. Fall semester. Carsten Kowalczyk
EIB E205m01: The Origins of the U.S. Economy
EIB E205m02: The Modern U.S. Economy
The course has three objectives. The first is to provide an informative overview of U.S. history, with a particular focus on the history of business and economic institutions. The second is to introduce students to important writers and interpretations on these subjects. The third is to help students develop their own well-grounded view of the United States, its key business and economic institutions, and role in history. The course is divided into two modules with The Origins of the U.S. Economy offered in the fall and the Modern U.S. Economy offered in the spring. One-half credit for each modular course. Steven Sass.
EIB E210m: Quantitative Methods Module
This module presents the mathematical methods that are used widely in economics, including logarithms, exponential functions, differentiation, optimization, constrained optimization, and an introduction to dynamic analysis. The mathematical material is presented in the context of economic applications and examples that illustrate the bridge between mathematics and economics. Students who enroll in this course may also want to enroll in DHP P210m-02 (Statistical Methods module). One-half credit. Fall semester. Michael Klein
EIB E211: Microeconomics
Develops and applies the theory of production, costs and consumer behavior; the theory of demand and supply of labor, capital and other inputs into production; the determination of prices and output under competition and other market structures; the theory of provision of public goods and the appropriate policies towards externalities. Fall semester. John Brown
EIB E212: Macroeconomics
The course consists of two related, but somewhat distinct, halves: the first on long run economic growth and the second on business cycles. The section on economic growth covers the determinants of the long-run performance of nations’ economies including the level and growth of national income and factors affecting labor market performance. The second section of the course, on business cycles, focuses on the determinants of national income over shorter time horizons and on the roles of fiscal and monetary policy. This is an intermediate level course. EIB 210m is suggested, but not required. Not offered 2008-2009.
EIB E213: Econometrics
Introduction to the basic tools of data analysis employed by social scientists in the study of economic and social relationships. The course equips students with the facts, intuition and experience necessary for independent econometric research and for critical reading of econometric research produced by others. Among the techniques covered are ordinary least squares, probity, fixed effects, two-stage least squares and weighted least squares estimation methods, along with associated methods for interval estimation and hypothesis testing. For the purpose of developing good judgment in specifying, finding data for, estimating, evaluating and interpreting regression results, we analyze potential problems associated with omitted relevant variables, included irrelevant variables, measurement error, multicollinearity, heteroskedasticity, and autocorrelation. Pre-requisites include familiarity with (1) basic probability and statistics (as may be learned in DHP P210m-02 or an introductory statistics course), and (2) basic concepts of functions and derivatives (as may be learned in EIB E210m or an introductory calculus course). Spring semester. Julie Schaffner
EIB E215m: Empirical Topics in Globalization
The term “globalization” has come into common usage, and its consequences for welfare, stability and growth are the topic of much debate. But, like many common phrases, globalization means different things to different people. The purpose of this six-week modular course is to examine evidence on the extent of globalization as well as its consequences. Globalization, in this course, is taken to mean a greater integration of goods markets and financial markets. After an introduction in which we frame the issues, we will look at whether the evidence supports the notion that the last few decades have, in fact, seen an unprecedented rise in the globalization; the effects of expanding trade on economic inequality, and the environment, and the effects of greater capital market liberalization on economic growth. Open to students who have completed EIB E210m and either EIB E201 or EIB E200. EIB E213 is recommended, but not required and may be taken concurrently. One-half credit. Spring semester. Michael Klein
EIB E216m: Global Macroeconomics
The course combines the standard macroeconomics curriculum with the macro side of the international economics curriculum. The assumption dictating the choice of topics is that students, once employed, will have a daily need to understand global macroeconomic events, foresee the evolution of macro variables and apply this knowledge to professional (and perhaps personal) decision-making. All discussions of macro phenomena will be set in a theoretical framework, but we will view their applications in case studies drawn from around the globe. The “data watch” component of each unit will ensure students’ familiarity with the actual global indicators encountered in the international business and economics media. One half credit. Spring semester. Lawrence Krohn
EIB E217m: Managerial Economics
Increasing global competition and rapid technological change compels management to think strategically regarding cost structures, pricing policy, product design, and organizational relationships. This course is a brief introduction to these issues presented from the perspective of economics. The focus is on the strategic responses a firm can make regarding both the organization of its internal functions and also its external interaction with other firms. At the end of the course students are expected to be able to appreciate the role of economic analysis in helping an organization to design and implement the organizational structures that allow it to compete effectively in a modern business environment. Students should be able to analyze managerial issues confronting real world organizations. One-half credit. Spring semester. Daniel Richards
EIB E220: International Trade and Investment
This course investigates why nations trade, what they trade, and the distribution of the gains from trade. Topics include trade and economic growth, technology, the product cycle, multinationals, international labor integration, tariffs, regional economic integration, dumping, and international competitiveness of firms and nations. Special attention is given to analyzing the effects of various policy instruments. Open to students who have taken EIB E211. Spring semester. Carsten Kowalczyk
EIB E221: Advanced Seminar on International Trade and Investment
This seminar explores current issues in trade policy reform and institutions. Topics include subsidies, agriculture, market access and reciprocity, the WTO Doha Development Round, preferential integration, dispute settlement, World Bank and IMF trade policy measures, trade and income distribution, and trade and the environment. The course is open to students who have taken E220 or have permission of instructor. Fall semester. Carsten Kowalczyk
EIB E230: International Finance
This course examines the determination of income, the exchange rate, and the trade balance in economies that trade goods and services, as well as assets, with the rest of the world. An asset-market approach to exchange rate determination is developed and then incorporated in a full macroeconomic model. Theory is used to study historical experience under the Gold Standard, the Bretton Woods system, the European Monetary System, and floating exchange rates. Also discussed are issues such as international policy coordination, financial crises, and the global capital market. Open to students who have completed EIB E201 or equivalent. EIB 210m is suggested, and may be taken concurrently, but is not required. Fall Semester. Michael Klein
EIB E231: World Financial Markets
This module focuses on the theory of international capital flows and the structure and performance of world financial markets. It provides students with a framework for analysis of international financial markets, important institutional detail, and a familiarity with recent events. The ultimate goal is to give students the theoretical and practical knowledge needed to understand the causes and implications of the rapidly changing structure of international capital markets. Open to students who have completed EIB E230 or who have permission of instructor. Not offered 2008-2009. Michael Klein
EIB E232m: Economic Growth
Economic growth has been, and continues to be, one of the central concerns of economics. Long-run economic growth is one of the best ways to bring people out of poverty. Some formerly poor countries, like South Korea, have had impressive growth performance and, consequently, a significant increase in its citizens living standards. Other countries, notably many in sub-Saharan Africa, have had much less success in advancing the material welfare of their citizens. This module presents theory and evidence on economic growth and long-run economic performance. One-half credit. Fall semester. Michael Klein
EIB E233m: Finance, Growth and Business Cycles
In this module we consider the potential role played by financial markets and the role of financial intermediation. We also study the actual structure and performance of banks, stock markets, and bond markets across a range of countries, and the extent of worldwide financial integration. The ultimate goal is to give students the theoretical tools, the empirical background, and the familiarity with experience needed to understand the causes and implications of the rapidly changing structure of international capital markets. This module should appeal to students with interests in economic policy, financial and portfolio management, and international business. One-half credit. Michael Klein
EIB E240: Development Economics
This course provides an introduction to several central themes in development economics. The organizing framework is economic growth. After examining the nature of global poverty and its relationship to economic growth, the course examines the roles of trade strategies and agriculture in the growth process. By combining economic models and case studies, one can draw lessons regarding what approaches have worked to alleviate poverty. The course also pays particular attention to situations that have led to economic crises, and develops models of macroeconomic management and structural adjustment. Lectures and assignments presume a background in economics at the introductory level. Open to students who have completed EIB E201 or equivalent. Fall semester. Steven Block
EIB E241: Micro Development Economics: Poverty Reduction Policy Analysis for Developing Countries
This course presents a systematic approach to analyzing the costs and benefits of – and brainstorming about ways to improve – policies and projects that might be used to reduce poverty in developing countries. Policies range from short-run attempts to use food subsidies and cash transfers to raise consumption levels of the poor, to infrastructure development and micro finance projects, to long-run investments in education and health. They also range from countrywide policies implemented by central governments to small-scale projects implemented by NGOs. Emphasis is on the rigorous and systematic use of social science reasoning (including the basic tools of microeconomic analysis), identification and use of key empirical information, and the effective communication of policy analysis results. Open to students who have completed EIB E201 or the equivalent. Fall semester. Julie Schaffner
EIB E242: Microeconomics of Development
The goal of this course is to explore the application of microeconomic analysis to issues of development in poor countries, with a particular focus on Sub-Saharan Africa. The course will use theory and facts to aid in the analysis of real-world development problems. Consequently, this course will focus on the application of economic models and empirical methods to issues of practical concern. We will begin by looking at issues in the measurement of poverty, inequality, and vulnerability. The course will then review some general issues of program evaluation, before turning to agricultural household models and criticisms of that model. We will then discuss issues that constrain and support development: human capital (education), the structure of rural factor markets (including land and access to credit, and the effects of risk and information problems), social networks, learning and technology adoption, access to information and institutions and conflict. For each topic, we will take a threefold approach: examining theory, using the theory to analyze the practical applications, and using this analysis to make policy recommendations. Open to students who have completed EIB E211. E213 is recommended but not required. Spring semester. Jenny C. Aker
EIB E243: Seminar on Agriculture and Rural Development in Developing Countries
This seminar examines a range of issues relating to agriculture and rural development policy in developing countries. The course is designed to introduce students to the fundamental issues and literature relating to agricultural and rural development. Central topics will include: famine, the role of agriculture in poverty alleviation, the relationship between poverty, population growth, and resource degradation, food price policy analysis, agriculture’s contribution to economic growth, and the role of the state. Open to students who have completed EIB E201 or its equivalent. Not offered 2008-2009. Steven Block
EIB E244: Seminar on the Political Economy of Reform, Growth, and Equity
This seminar explores the insights and critiques of rational political economy in explaining the determinants of reform, growth, and equity in developing countries. This approach applies tools of economic analysis to understanding political processes, recognizing that we can gain a deeper understanding of development by considering the relations between a country’s resources, its political conditions, and its economic policies. In particular, the seminar will apply theories of "public choice" and collective action in explaining development policy outcomes in relevant areas including: the relationship between political and economic liberalization, income distribution and growth, trade regimes, land reform, and democratization and growth. Students are encouraged to have completed EIB E240. Not offered 2008-2009. Steven Block and Kwesi Botchwey
EIB E245: Managing Economic Reform in Low Income Countries
The international development discourse has changed markedly in tone and substance over the past decade and a half. The onset of the new millennium served to focus the attention of the international development community on the uneven distribution of the gains of globalization with world leaders adopting a Millennium Development Compact in September 2000, which, among other things, committed the international community to intensified global efforts at reducing global poverty. This course will attempt to evaluate the experience of economic reform in developing countries from the point of view of the interaction between politics and economics. There will be a broad analysis of the critical issues of reform on the macroeconomic, institution and governance areas along with in-depth case studies of a select number of low income countries spanning different regions. The main emphasis will be on the practical and management challenges that countries face. Spring semester. Kwesi Botchwey
EIB E246: Natural Resource and Environmental Economics
This course will introduce students to the underlying concepts and major issues in contemporary environmental economics. Building on basic concepts from microeconomics, the course emphasizes issues of environmental degradation and resource depletion, and how incentives can be designed to protect the environment. Topics covered will include: valuation of the environment; impacts of population growth and agricultural expansion; management of renewable and non-renewable resources; pollution analysis and policy; energy and global climate change; international trade and the environment; formulation of national and multinational environmental policies. Special attention will be paid to policies to respond to climate change, including carbon trading and “clean development” institutions. Open to students who have completed E201 or equivalent. Spring semester. Jonathan Harris
EIB E250: Economic Problems of Latin America
This course will focus on the many reasons for Latin American’s long failure to realize its economic potential. Although structured from an economic perspective, the course will never lose sight of the ways in which political institutions shape economic policy and thus national well-being. Given the choice between two organizational paradigms – by type of economic problem or by country – we opt for the former. Each problem, however, will be illustrated with cases drawn from recent history of the four main protagonists: Mexico, Brazil, Argentina, and the Andean nations, taken (for economy) as a bloc. The unifying theme of the course will be that of economic inefficiency, i.e. how poorly designed institutions (in the broadest sense) lead to economic waste. However, we will not be able to avoid issues of economic equity. Open to students who have completed EIB E230 or the equivalent. Fall semester. Lawrence Krohn
EIB E254: The Political Economy of China
This course provides a political economy perspective on China’s economic rise and integration with the world economy, with particular emphasis on the reform period beginning in 1980. Topics covered in the course include the reform process, the role of institutions, corporate governance reform, trade and foreign direct investment, science and technology, regional and income disparities, and the changing role of business and public policy within China. Where appropriate the course uses basic tools of economic analysis to analyze the conditions that are shaping China’s economic performance, including the changing role of the state, the principal sources of growth, and China’s integration with the world economy. Spring semester. Gary Jefferson
EIB E261: Transnational Labor Economics Issues
Rapid technological change and increasing economic globalization have created both opportunities and challenges to countries as they try to balance the benefits of economic growth and the costs of dislocation associated with these changes. This course will begin with a review of global demography, employment, poverty, and migration trends. It will then discuss the impact that migration, trade, and technology have had on the labor market and conclude with an assessment of the role that education and training can play in promoting economic growth and reducing inequality. Each topic will be examined in three dimensions - theory, empirical evidence, and policy debate. Not offered 2008-2009.
EIB B200: Foundations in Financial Accounting and Corporate Finance
An introductory course that covers the development and application of the core principles, concepts, and tools of financial accounting and corporate finance. The focus is on the management responsibilities of the chief financial officer of both privately and publicly held corporations. Introduction to financial statements and cash flow analysis, sources and uses of funds, financial planning, cost allocation, and accounting profits versus economic valuation. Long term financing including convertible bonds and derivative securities are introduced in the context of efficient capital markets. Capital budgeting theory and investment decision making, and mergers and acquisitions are covered, including internal rate of return, net present value, leverage, and methods for estimating the cost of capital associated with different financing instruments and techniques. Fall semester – two sections. Laurent Jacque.
EIB B201: Fundamentals of Accounting Theory and Application
This course introduces the conceptual accounting framework necessary for understanding and analyzing the financial information disclosed by publicly listed companies. Current authoritative accounting standards and their application to accounting practices by multinational corporations (MNCs) are explored through the use of various business and economic databases. This course requires students to perform analyses of MNCs from both the perspective of management and investor since the stakeholders need for reliable and relevant information about the performance of firms influence managers’ selection of accounting policies and financial reporting methods. Topics covered in this course include the fundamentals of the double-entry accounting system, recording of basis financial transactions, preparation and interpretation of a core set of financial statements including the Balance Sheet, Income Statement, Statement of Cash Flows, and Statement of Stockholders’ Equity, and the computation and graphing of ratios and trend analyses of key business and industrial performance indicators. Working knowledge of Excel is required. Not offered 2008-2009. Shirley Hunter
EIB B202: International Accounting Theory and Application in Global Capital Markets
This course introduces a theoretical and systematic approach to analyzing the financial information of transnational firms (TNCs) that use either United States generally accepted accounting principles (U.S. GAAP), International Financial Reporting Standards (IFRS), and/or local GAAP to report financial information to global stakeholders. This course examines current research on the harmonization of accounting standards to gain an understanding of reporting strategies by TNCs and multinational corporations (MNCs) listed on multiple stock exchanges. Topics include the historical basis for diversity in financial reporting across countries, the institutional and regulatory structures in accounting that have developed in response to global financial markets, the accounting information systems in MNCs, the market risks of exposure to foreign currency translations and hyperinflation, the business strategy for the transnational entity, reporting by the foreign subsidiary, and corporate governance and auditor’s independence in global markets. Open to students who have completed either EIB B200, EIB B201, EIB B221 or EIB B230 and have working knowledge of Excel. Spring semester. Shirley Hunter
EIB B203: Non-Profit Accounting and Budgeting for Social Responsibility
This seminar provides a framework for understanding and analyzing funds that are entrusted to nonprofit organizations (NPOs) and governments for fulfillment of a public objective. This seminar begins with a brief overview of the basic accounting concepts used by NPOs and governments. Then the seminar examines the budgetary process and the subsequent performance of the entity towards accomplishing its overall objectives. Additionally, it will review the role of the governing bodies of the NPOs and public officials who are held fiscally responsible for all resources. Finally, the seminar will analyze emerging guidance on the status of tax-exempt organizations in the United States and abroad. DHP P209 or DHP D238 and working knowledge of Excel are encouraged. Fall semester. Shirley Hunter
EIB B204m: International Auditing and Corporate Governance of For-Profit and Nonprofit Organizations
This modular seminar explores a diversity of financial auditing issues as applicable to the legislation of the Sarbanes-Oxley Act of 2002 which holds governing bodies of multinational corporations (MNCs) and nonprofit organizations (NPOs) fiduciary responsible for organizational resources. Class discussions will cover the economic and social justifications for auditing of MNCs and NPOs; the connections between organizational strategy and corporate governance; business risks and the role of internal controls; contracting for audits; and the social responsibility and independence of the auditor. Through case studies, readings, and discussions, students will gain an understanding of some of the challenges faced by global managers in their interactions with internal and external auditors in a highly differentiated regulatory environment. Open to students who have completed or are currently enrolled in EIB B200 or EIB B201. One-half credit. Not offered 2008-2009. Shirley Hunter
EIB B205: Data analysis and Statistical Methods for decision-making
This course provides an overview of classical statistical analysis and inference. The goal is to provide you with an introduction to statistical thinking, concepts, methods, and vocabulary. This will give you some tools for dealing with statistical methods you may encounter in your course work or research while at the Fletcher School. In addition, the course will give you entrée to research and professional literature you will encounter that utilizes statistical methods and thinking. We will be using spreadsheet technology in this course, and it will be a useful tool for some of your homework. Any work you can do to review spreadsheet technology would be helpful. The spreadsheet of preference in this course will be Microsoft Excel. Fall semester – two sections: Lawrence Krohn. Spring semester – one section: Robert Nakosteen
EIB B207m: Financial Statement Management
Accounting is about communication: it is an economic information system and can be thought of as the language of business. The goal of this course is to provide you with the ability to use accounting information effectively. After taking this course, you should: understand the role of accounting in providing information to financial markets; be aware of how accounting information can be manipulated and cause opportunistic behavior; and have gained the competence to interpret, analyze and evaluate accounting information. This course combines lectures, discussions, cases, problem-solving, and reading. One-half credit. Fall semester – mid-August. Lawrence Weiss
EIB B209m: Management Accounting and Performance Management
The objective of this course is to allow student to reinforce their understanding of – and their ability to use, as managers – key tools and thinking patterns of management accounting and performance guidance systems to maximize the performance of a business or not-for-profit. This course is built around three forces that shape managerial behavior: instruments, decision-making processes, and organizational design. We explore the kind of support a managerial information system can provide for decision-making. Because managers achieve results through other people, this course also includes behavioral content on distribution of decision rights and allocation of resources. We look at the tools available to describe firm operations, and the use of these tools in both strategic and diagnostic decision-making. One-half credit. Michel Lebas
EIB B220: Seminar on Global Financial Services
The focus of this seminar is primarily on the determinants of competitive performance in the global financial services industry defined as including the entire range of commercial and investment banking as well as insurance activities. Review of bank management principles emphasizes asset liabilities management, interest rate risk management and Value at Risk (V@R). Discussion of international commercial banking will focus on international trade financing, syndicate lending, project financing and international securitization in the unique setting of currency and country risk with reference to the Asian financial crisis. Inter-national investment banking will include Eurobond and foreign bond underwriting, competition in interest rate, currency swap and synthetic securities, transnational mergers and acquisitions and financial engineering. Determinants of the competitive strength of major financial institutions are traced back to the regulatory and supervisory overlay of the global financial service industry. Open to students who have complete B200 or B221 or equivalent. Not offered 2008-2009. Laurent Jacque
EIB B221: International Financial Management
This course develops a conceptual framework within which the key financial decisions faced by multinational corporations can be analyzed. The traditional themes of corporate finance, including working capital management, capital budgeting, mergers and acquisitions, and funding strategies, are revisited in the context of volatile exchange rates and less than fully integrated capital markets. Special attention is given to foreign exchange risk management including the appropriate use of new hedging instruments such as currency options, swaps, and derivatives. Case studies emphasize how international financial management should be integrated with corporate strategy and coordinated with international marketing, procurement, and logistics decisions. Open to students who have completed EIB B200 or equivalent. Spring semester. Laurent Jacque
EIB B223: Securitization of Financial Assets
This course provides a theoretical and practical analysis of the asset-backed security market. Topics include: Duration And Convexity Of Bond Yields, Price Dynamics Of Mortgages And Cash Flows, Default Risk, Interest Rate Volatility, Financial Risk Management Of Bond Portfolios, Securitization, Corporate Debt And The Securitization Markets, Asset-Backed Commercial Paper, Collateralized Loan Obligations, Structuring Synthetic Collateralized Loan Obligations, Securitization Of Revolving Credit, Financial Derivatives And Their Use As Hedging Tools. Half of the course is in the computer lab, where theoretical models are illustrated and solved using Excel and Bloomberg. Not offered 2008-2009.
EIB B225: Corporate Finance and Banking: A Comparative East Asian Perspective
This seminar explores major themes in corporate finance and banking in East Asia. Its approach is loosely comparative drawing primarily, though not exclusively, on the diverse experiences of Japan, the Republic of Korea, and the People’s Republic of China. The dynamism of financial change in the region, coupled with the diversity of responses among East Asia’s governments, financial institutions, and corporations, provides the context for this study of contemporary issues in corporate finance from a uniquely decision-centric perspective. The introductory session of the seminar will set its thematic framework by establishing necessary theoretical foundations and empirical background. Macro or systemic issues will dominate the first half of the seminar, specifically the legacy of bank-centric finance in the region, trends in financial deregulation and internationalization, and in the 1990’s, systemic disruption and crisis. The second half of the seminar will examine decision points at the firm-level on issues such as corporate organization, investment, and performance, corporate governance and control, and capital structure, including both public and private equity finance, public debt finance, and balance sheet management through the use of derivative and asset-backed securities. Spring semester. Patrick Schena
EIB B226m: Large Investment and International Project Finance
The course relies on a case-study approach to the increasingly important field of project finance, employing the latest techniques for structuring transactions, including risk mitigation by financial intermediaries. Course stresses decision making and prioritization of tasks, policy formulation, the selection of world-class partners and on-the-ground operational skills necessary to ensure timely completion of construction, budget adherence and efficient start-up. Large investment projects across a variety of geographic regions, industrial sectors, and stages of project execution are examined, including relevant data on default and loss characteristics. Contrasts the important differences in risk between domestic and export sector projects, including management of foreign exchange issues and the role of host governments. One-half credit. Fall semester. Phil Uhlmann.
EIB B227: Islamic Banking and Finance
The course is a comprehensive introduction to the subject of Islamic banking and finance and should be of interest to students of Islam and Middle Eastern politics and economics, as well as to those considering careers in international finance. The course is divided into four parts: the first part will be an introduction to Islam, with a special focus on economics and finance (overview of Islam and Islamic law, riba, gharar, zakat, and the “moral economy” of Islam). The second part will deal with political economy of Islamic finance (how and why Islamic finance came into existence in the 1970s, how it was updated in line with the globalization of finance, and how it was affected by the September 11 attacks). The third part will present the full range of Islamic products and instruments, and discuss the issue of financial innovation with a specific focus on the role of Western institutions. The fourth and final part will deal with political issues involving Islamic finance with a particular focus on the question of Islamic terrorism. Spring semester. Ibrahim Warde
EIB B227m: Islamic Banking and Finance – Arabic Module
The course will expose students to the language of business and finance, with a particular focus on Islamic finance. At the end of the course, students should master the vocabulary of finance – conventional and Islamic—improve their oral and written communication skills and gain a better understanding of business practices in the Middle East. Readings will include excerpts from the Koran and the Hadith dealing with economic matters, excerpts from classics of Islamic finance, such as “Iktisaduna” and “Al bank alla ribaoui fil Islam” by Mohammed Baqer as-Sadr, articles from the Middle Eastern media and fatwas from Islamic scholars. In addition, Arabic balance sheets, income statements and annual reports will be reviewed. Open to students at an intermediary or advanced level. Although this course is offered in conjunction with B227/Islamic Banking and Finance, it can be taken separately with the permission of the instructor. One-half credit. Not offered 2008-2009. Ibrahim Warde
EIB B230: Strategy and Policy for Competitive Advantage
This course introduces fundamental issues in the strategic management of firms. The overall aim of the course is to provide students with basic theoretical perspectives and practical analytical tools for understanding the performance of firms over time. This course considers both business and corporate strategy, and particular emphasis is given to an examination of industry structure and competitive advantage, the decisions firms make under various competitive conditions, different modes of production and exchange, company growth, and corporate diversification. The course is open to all students. EIB E201 and EIB B200 may be taken concurrently with this course and similar courses or their equivalent are strongly recommended. Not offered 2008-2009. Jonathan Brookfield
EIB B231: International Business Strategy and Operations
This course surveys fundamental issues related to the internationalization of firms and the strategic management of multinational enterprises. The overall aim of the course is to expose students to a variety of theoretical perspectives and managerial practices related to international firms, and the course is divided into six modules. The first consists of a basic introduction to key questions and issues related to international business. The second considers the internationalization process. The third examines topics related to management of multinational enterprises, including organizational design, global strategy, and modes of foreign investment. The fourth considers the external environment of firms, paying close attention to issues related to country analysis and comparative economic organization. The fifth considers globalization and the cross-border flow of people, goods, ideas, and money, and the sixth looks at some emerging issues related to international business strategy. Spring semester. Jonathan Brookfield
EIB B234: Seminar on Strategic Management in Privatizing and Deregulating Industries
This course surveys the literature, theoretical perspectives, and practices related to privatization. The seminar explores current issues shaping debates about effective enterprise privatization, addressing the subject in a comparative and interdisciplinary manner. The course is divided into three modules. The first covers key concepts, policy issues, background, and context related to privatization and deregulation. The second looks at privatization from a comparative perspective – examining different national experiences with privatization and deregulation – and the third explores the impact of privatization from an industry perspective. Students should come away from the seminar with a deep appreciation of the challenges facing executives and policy makers dealing with privatizing enterprises in a variety of different settings. Fall semester. Jonathan Brookfield
EIB B235: Managing the Global Corporation
The course will touch on the major elements of directing the global corporation from an overall management perspective. Hence, while the course will touch on financial, human resources, marketing, manufacturing, and other areas, the emphasis will be on the management decisions and issues, rather than on the detailed technical aspects of each area. The course will focus largely on international management issues. It will draw on examples of issues, particularly from the technology, financial services and consumer products industries. Selected guest experts will also participate in the lectures. Fall semester. G. Richard Thoman
EIB B237: Field Studies in Global Consulting
The goal of this course is to provide an introduction to consulting as it is practiced worldwide and across sectors. Students will achieve this goal by undertaking a consulting engagement for a real-world client. The first part of the course will include an introduction to and practice in the essential skills that form the core of professional development for consultants at top-level firms. Students will then put these skills to the test by completing a team consulting project for a sponsoring company. Open to students who have completed EIB B225 or EIB B230 and/or EIB B200 or with permission of the instructor. Class size will be limited by the number of projects confirmed by external sponsors with a maximum of four projects, or twenty students, being accepted. Input for the project grade will come primarily from the client; team self-evaluations will be reflected in individual final grades. Note: Students are limited to only one “field study” type of course during their career at the Fletcher School. This also includes courses taken outside of Fletcher that are considered field study courses. Two sections - Spring Semester. Christopher Tunnard
EIB B238m: International Business Strategy and Operations
Most strategic problems are complex: they involve multiple dimensions, and causal relationships are often ambiguous. They also entail a significant amount of uncertainty, as future trends are largely conjectural. Finally, they involve multiple decision-makers with conflicting agendas. Beyond mere analytical skills, strategic management therefore involves sharp political, organisational and managerial skills. As such, this two-part course mixes lectures with real-life case studies and will draw upon your own experiences to help develop a general management perspective, a strategic mindset, and a strong strategic management skill set. The first part, Business Strategy, includes modules on industry analysis, sustained competitive advantage, resources and capabilities, implementation, and strategic flexibility. The second section on Corporate Strategy includes modules covering value creation, core competencies, multinational management, and corporate renewal. One-half credit. Dominique Héau
EIB B239m: Corporate Governance in International Business and Finance
This module seminar explores business, financial and legal issues affecting systems by which corporations are directed and controlled both in industrialized and developing countries. Addressing the subject in a comparative and interdisciplinary manner, students will examine the nature of the corporation, the basic theory of the firm, the internal and external architecture of corporate governance, the role of regulatory authorities, models of corporate governance, principal-agent theory within the corporate context, as well as corporate culture, corruption, management and board compensation, conceptions of social responsibility, and capital market development and international cross-listing of shares. The module will focus on both the theoretical and policy implications of corporate governance, including efforts in various parts of the world to effect reforms and set new standards in the wake of corporate scandals. Also listed as ILO L239m. One-half credit. Spring semester. S. Donald Gonson
EIB B241: Microfinance: Issues and Breakthroughs
Microfinance once meant small loans delivered through groups to microentrepreneurs. Today, microfinance has become robust and includes many financial services to many markets and many kinds of development beneficiaries. It includes loans, savings, insurance and the complex and emergent ways of delivering these services. This course explores the development environment that inspired early microfinance interventions and concludes with the breakthroughs in both commerce and development, which have transformed the sector. We also take a close look at the ethical issues now emerging, but as yet still largely undisclosed. The course also looks at ‘Base of the Pyramid Approaches’ in emergent economies. The course assumes no financial background but requires that students master financial skills during the semester as a prerequisite to understanding the issues. Fall Semester. Kimberley Wilson
EIB B260: International Marketing
This course introduces students to the fundamental issues faced by international marketers. The course addresses the multi-faceted problems of marketing across national boundaries as well as the numerous challenges of marketing within foreign countries and the coordination of global marketing programs. It covers the problems encountered by all firms—small and large, for-profit and non-profit—as they operate in an international or global environment. The full range of marketing activities faced by exporters, licensors, joint ventures, and the multinational firm is covered: marketing research, product policy, pricing, distribution, promotion, planning, organization, and control. While internationally oriented in nature, the course will also bring exposure to classic and fundamental marketing management principles when appropriate. Non-traditional aspects of international marketing will be considered for a variety of constituencies as well. Fall semester. Bernard Simonin
EIB B261: Seminar on Advanced Topics in International Marketing
This seminar offers comprehensive coverage of both fundamental and emerging issues in the fields of marketing and international marketing. The aim of this seminar is to arm students with a solid understanding of both emerging trends and critical issues that continue to capture marketers' time and attention. The seminar is articulated along four distinct modules. The sequencing of the first three modules (market orientation; customer orientation; learning orientation) follows a classic marketing paradigm centered on best marketing practices and superior organization performance. The sub-topics under each leg of this marketing triad approach will be examined with respect to various contexts (e.g. for-profit vs. non-profit; organizational vs. individual behavior). The fourth module, co-designed and moderated by the students, will allow to actively engage the class in timely or emerging issues, in a further investigation of an existing theme upon request, or in the coverage of other classic marketing topics of particular interest to the group. Fall semester. Bernard Simonin
EIB B262/Marketing Research and Global Intelligence
Marketing research is concerned wit the need for marketers to reduce uncertainty with respect to decisions related to market entry, product development and positioning, pricing, distribution, and promotion. This course will adopt a comprehensive approach to managing this process by recognizing the importance of different types of information (e.g., about competitors or customers; based on past, present or future trends; primary vs. secondary sources). Students will be exposed to the various stages of the research process from recognizing the need for research and defining the problem to analyzing the data, interpreting the results and presenting the findings. Various techniques for market analysis will be introduced "hands on" via a series of computer exercises and cases (using SPSS and Excel). Less traditional methods (e.g., benchmarking, intelligence gathering) will also be discussed for complete perspective on marketing research. Fall semester. Bernard Simonin
EIB B263m: Marketing Management
This course aims at developing critical knowledge and skills in the managerial aspects of marketing. At the heart of this undertaking is the ability to recognize and understand the power of marketing; to formulate a comprehensive marketing plan through the strategic analysis of market opportunities; to implement an effective marketing strategy through the expert manipulation of the marketing mix; to create and extract value through superior customer service and brand management practice; and to foster exchanges between the organization and its customers on the basis of robust and inspired research. The course addresses the managerial, organizational, ethical, societal, environmental, and global dimensions of marketing decision making. The main objectives of the course are to sharpen your skills in marketing decision-making, problem diagnosis, and management skills; to understand and apply some fundamental marketing concepts; to improve your familiarity and understanding with institutional marketing knowledge, terminology, and practice; and to provide you with a forum for formulating, presenting, and defending your own marketing ideas and recommendations. Note: Students having taken or planning to take B260 are not eligible to enroll in this course. One-half credit. Spring semester. Bernard Simonin.
EIB B270: Seminar on Asian Business Groups
The importance of Asian economies to world business is significant and continues to grow, making knowledge of the economic organization of countries in the region increasingly critical. Without some comprehension of the role of business groups in the region, a full understanding is difficult to achieve. This seminar looks at business groups in Japan, the Republic of Korea (South Korea), the Republic of China (Taiwan), Hong Kong, Singapore, and the People's Republic of China. The goal of the seminar is to put Asian business groups in their historical, political, and economic context, and then examine current conditions in an effort to give some insight into future trends. Not offered 2008-09. Jonathan Brookfield.
EIB B270m: Module on Business Groups in Asia
The importance of Asian economies to world business is significant and continues to grow, making knowledge of the economic organization of countries in the region increasingly critical. Without some comprehension of the role of business groups in the region, a full understanding is difficult to achieve. This seminar looks at business groups in Japan, the Republic of Korea (South Korea), the Republic of China (Taiwan), Hong Kong, Singapore, and the People's Republic of China. The goal of the seminar is to put Asian business groups in their historical, political, and economic context, and then examine current conditions in an effort to give some insight into future trends. One-half credit. Spring semester. Jonathan Brookfield
EIB B272m: The Political Economy and Business Environments of Greater China
This course will expose students to similarities and differences in the business environments of Greater China. At the end of the course, students should have a better understanding of Chinese business and the context in which business occurs in Hong Kong, Singapore, the Republic of China (Taiwan), and the People’s Republic of China. The class will be taught in English. For MIB students this course is one of the regional course options. One-half credit. Spring semester. Jonathan Brookfield.
EIB B280: The Global Food Business
The purpose of this business course is to introduce the student to the rapidly expanding global food business. The growing, processing, distribution, and marketing of food is a major and necessary economic endeavor of the world’s people. Today, the international food industry is increasing at historically high rates of growth paralleled by increasing world trade in agricultural commodities, motivated by new multinational trade agreements. The focus of the course will be to introduce the student to the management, business strategy, marketing, research, and analytical skills required in the international food business. The course is designed to meet the requirements of students aiming to enter the international food business, as well as for students who in their professional careers (e.g., government, legal, medical sciences) will deal with this major sector of business. Spring semester. James Tillotson
EIB B284: Petroleum in the Global Economy
This course will introduce students to the basics of the international petroleum industry and its role of the international economy. The first part of the course will establish the basics and background of the industry. Students will be introduced to the economics of petroleum exploration and production, refining, marketing and use, including natural gas and alternatives forms of energy, and to the basic business models of the international petroleum industry. Drawing on this knowledge base, the second part of the course will examine the history of the petroleum industry, the global petroleum resource base, the structure and dynamics of the international petroleum market, the impact of petroleum on the environment and an overview of energy policies. Open to students who have completed EIB E200, EIB E201, or EIB B200. Fall semester. Bruce Everett
EIB B290: Leadership: Personal and Organizational Challenges
The goal of this course is to provide students with a practical and intellectually challenging roadmap to their own development as leaders. Lectures and readings will give meaning to leadership as a concept; at the same time, however, we will leverage students’ own experience and the experiences of leaders from industry and government to explore leadership as a vocation. Two themes are central to the course. The first theme is that leadership is a life-long vocation. The second central theme is that leaders improve through practice. The link between these two themes, we will discover, is learning how to “practice while you perform.” Through readings, discussions with invited guests, and exercises, we will all experience what it means to practice while you perform. This class is limited to 30 students. Spring semester. Robert Thomas
EIB 300-399: Independent Study
Directed reading and research for credit, providing an opportunity for qualified students to pursue the study of particular problems within the discipline of Economics and International Business under the personal guidance of a member of faculty. The course may be assigned to a Field of Study according to the topic selected. By consent of the professor and petition.
EIB 400: Reading and Research
Noncredit directed reading and research in preparation for PhD comprehensive examination or dissertation research and writing on the subjects within this division. By consent of the professor.