Economics and International Business (EIB) Courses

EIB B200: Foundations in Financial Accounting and Corporate Finance

An introductory course to corporate finance from the perspective of the chief financial officer (CFO). The first part of the course deals with financial planning and budgeting, financial analysis, and short-term financial management. The second part of the course develops a valuation framework for making investment decisions (capital budgeting) for new equipment, the launch of new products, mergers and acquisitions and LBOs... and the funding/financing decisions to be coordinated with those investment decisions. Special attention is given to the cost of capital and valuing stocks, bonds, convertible and preferred.

Course faculty: Laurent L. Jacque
Course duration: Full semester
Credits/Units: 3

EIB B205: Data Analysis and Statistical Methods

This course provides an overview of classical statistical analysis and inference. The language and methods of statistics are used throughout the Fletcher curriculum, both in the classroom and in assigned readings. In addition, the language and methods of statistical analysis have permeated much of academic and professional writing, as well as media reporting. The goal is to present a broad introduction to statistical thinking, concepts, methods, and vocabulary.

Course faculty: Robert Nakosteen
Course duration: Full semester
Credits/Units: 3

EIB B206: Data Analysis and Statistical Methods for Business

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 coursework or research while at The Fletcher School, especially “regression analysis,” which is covered at the end of the course. In addition, this section of the course has a particular emphasis on business applications. Students who plan to or have completed B205 are not permitted to take this course.

Course faculty: Robert Nakosteen
Course duration: Full semester
Credits/Units: 3

EIB B207: Financial Statement Management

Accounting is an economic information system, and can be thought of as the language of business. Accounting information provides individuals with a starting point to understand and evaluate the key drivers of the firm, its financial position and performance. This can then be used to enhance decisions, as well as help predict a firm’s future cash flows. The present (or current) value of those cash flows provides an estimate for the value of the firm. This course will cover the basic vocabulary, concepts, procedures and mechanics of financial and managerial accounting and the role of accounting information in society.

Course faculty: Lawrence A. Weiss
Course duration: Full semester
Credits/Units: 3

EIB B208: Financial Statement Analysis

This course will provide participants with an understanding of the techniques used to alter and evaluate the key competitive value drivers of a firm and assess the nature and likelihood of future cash flows. We begin by reviewing the basics and remembering the limits of accounting information. Next we deepen our examination of ratio analysis and extend our analysis to build pro-forma (as if, or future) financial statements. Then, we look at certain accounting choices and their impact on financial statements and analysis. Finally, we will study the nature of bankruptcy and how creditors assess this possible end game.

Course duration: Full semester
Credits/Units: 3

EIB B209M: Managerial Accounting

Management accounting goes beyond the traditional accounting model to integrate dispersed information into a form that is relevant to many of the decision-making, planning, and control activities of the organization. This course has two major objectives: (1) to develop an understanding of the traditional methods of collating and preparing this information; and (2) to develop an understanding of its usefulness in facilitating the decision-making process within organizations. We will cover the basic vocabulary, concepts, procedures and mechanics of managerial accounting, the design of management accounting systems for different operations, and the role of management accounting information in firm operations.

Credits/Units: 1.5

EIB B210: Financial Reporting and Performance Evaluation for Social Impact

This course is designed to demystify accounting and its processes for those with no prior experience in accounting or finance. Accounting information provides individuals with a starting point to understand and evaluate the key drivers of an organization, its financial position and performance. We will examine the nature of accounting information and how it is used for external reporting, managerial decision making, and to control and align the actions of the members of an organization. By the end of the course, participants will have the ability to interpret accounting information effectively in the government and not for profit sector.

Course duration: Full semester
Credits/Units: 3

EIB B212: Starting New Ventures

The course seeks to prepare students to start businesses in which they have a significant equity interest. It focuses on the necessary knowledge, skills, and attitudes in two areas: how to analyze opportunities quickly and cheaply; and how to secure resources (money, customers, and people) in the early stages of an enterprise. The primarily cased based course also has several guest experts and (in lieu of in-class lectures) extensive pre-class readings.

Course faculty: Amar Bhidé
Course duration: Full semester
Credits/Units: 3

EIB B213: Leading Transformational Growth

The course examines the transformation of fledgling ventures into resilient, high-impact enterprises. The challenges include setting ambitious goals, making strategic choices about organizational structures, control systems, norms, product lines, geographic expansion and so on, and effectively implementing these strategies. Although the cases deal mainly with young firms (and thus naturally complement the Starting New Ventures Course) the readings and class discussions cover issues of leadership, organizational development and design, incentives, culture etc. that arise in many settings, including the non-profit sector. Similarly, the course and case discussions also seek to cultivate a holistic pragmatism that characterizes the effective leadership of mature as well as emerging organizations. The final paper can be turned into a capstone project.

Course duration: Full semester
Credits/Units: 3

EIB B220: Global Financial Services

The focus is on the determinants of competitive performance of financial institutions including commercial banks, insurance companies, hedge funds, investment banks, and private equity firms. 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 finance, and international securitization. Open to students who have completed B200 or B221 or equivalent.

Course faculty: Laurent L. Jacque
Course duration: Full semester
Credits/Units: 3

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, different regulatory environments and segmented capital markets. Focus on 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 operating decisions. Open to students who have completed B200 or equivalent.

Course faculty: Laurent L. Jacque
Course duration: Full semester
Credits/Units: 3

EIB B223: Informal and Underground Finance

This course aims to study the role of the informal (off- the-books) and underground (criminal) sectors in the global economy, from multiple perspectives ranging from economic development to law enforcement and global security. In the past decades, the removal of financial controls, combined with technological advances, has allowed deviant globalization (drug trade, piracy, cybercrime, counterfeiting, human trafficking, terrorist financing, etc.) to prosper, creating governance and law enforcement challenges to governments and corporations alike.

Course faculty: Ibrahim Warde
Course duration: Full semester
Credits/Units: 3

EIB B224: Global Private Equity from Money in to Money Out

This course provides a comprehensive examination of the role of private equity in global finance. It is intended to equip students with an analytical framework for assessing the industry and its key participants and to develop practical skills to support possible investment careers. The course is experiential by design and will be structured around two team-based projects that will engaged students directly in critical dimensions of the private equity finance process: fund development, investment analysis and decision-making. The course will cover the full spectrum of issues relevant to a globally oriented private equity firm from the structure of partnership agreements, through capital acquisition, deal sourcing, investment analysis, deal structuring, and exit. The course approach is intended to unite disciplinary rigor in financial and investment analysis with globally applied practices.

Course faculty: Patrick J. Schena
Course duration: Full semester
Credits/Units: 3

EIB B225M: Corporate Finance and Banking: A Comparative Asian Perspective

This course explores major themes in corporate finance and banking in Asia drawing on the diverse experiences of regional actors. Systemic issues dominate the first third of the course, specifically the legacy of bank-centric finance, trends in financial deregulation and internationalization, and crisis. The balance of the course will examine decisions at the firm-level on issues such as corporate ownership, performance, and governance, and capital structure management, across both public and private debt and equity and balance sheet management through the use of derivatives and asset-backed securities. Open to students who have completed B200.

Credits/Units: 1.5

EIB B226: Large Investment and International Project Finance

A case study approach to employing the latest techniques for structuring transactions, including risk mitigation by financial intermediaries. This 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 data on default and loss characteristics. Contrasts differences in risk between domestic and export sector projects, including foreign exchange issues and the role of host governments.

Course faculty: Philipp A. Uhlmann
Course duration: Full semester
Credits/Units: 3

EIB B227: Islamic Banking and Finance

The course is a comprehensive introduction to Islamic banking and finance. In addition to providing religious and historical background, the course discusses the political and economic context of the creation and evolution of Islamic institutions. The course will explain how Islamic products (murabaha, mudaraba, musharaka, ijara, sukuk, takaful, Islamic mutual funds and derivatives, etc.) work. The final part of the course will discuss Islamic finance in the context of the “war on terror” and the recent global financial meltdown.

Course faculty: Ibrahim Warde
Course duration: Full semester
Credits/Units: 3

EIB B229: Global Investment Management

This course investigates the global dimensions of investment management. The course combines technical and theoretical tools with practical illustration and application of critical investment concepts. The course will open with an overview of global institutional investors and the business of investment management. Following sessions will focus on developing an understanding primary asset classes, including foreign exchange, global equities, global fixed income securities, alternative investment vehicles, and derivatives. On this foundation, subsequent class sessions will focus on introducing and developing portfolio skills in the areas of risk management, investment performance and attribution, and finally portfolio construction and asset allocation. Open to students who have completed B200 and B221 or a strong finance background.

Course faculty: Patrick J. Schena
Course duration: Full semester
Credits/Units: 3

EIB B230: Managing NGOs and Social Enterprises

This course examines how to create, develop and scale high-performing social sector organizations — be they for-profit, nonprofit, or hybrid organizations. In this course, student will learn how to: a) design an organization’s mission, theory of change, and strategy in order to deliver social results; b) develop performance management systems useful for internal learning, while managing complex demands for accountability from diverse stakeholders; c) understand how to scale impact through multiple strategies including growth, collaboration, and policy influence; and, d) examine capital markets and the challenges of obtaining resources. Taken together, students will acquire the understanding, skills and knowledge necessary to lead and sustain high performance in enterprises dedicated to addressing some of the most challenging problems facing the world today.

Course faculty: Alnoor Ebrahim
Course duration: Full semester
Credits/Units: 3

EIB B231: International Business Strategy and Operations

This course examines strategic decision making in multinational enterprises (MNEs). It provides a series of analytic frameworks that managers can use to assess the global environment and the options available to MNEs for competing globally. In particular, the course considers the internationalization process, tensions between global integration and local responsiveness, and their implications for organizational design and business strategy. A subset of the course considers the relevance of these concepts and tools to other multinational actors such as international NGOs. The course also provides an opportunity to consider the roles of political risk, the regulatory environment, and civil unrest as factors in strategic decision-making. The pedagogy is primarily case-based, drawing on examples of MNEs based both in the global North and in emerging markets.

Course duration: Full semester
Credits/Units: 3

EIB B232: Work and Employment Relations in the 21st Century

This seminar explores how and why the nature of work has changed dramatically in recent years and what this means for future career patterns. The course has four learning objectives: Provide students with an understanding of key drivers shaping work such as globalization and organizational and technological innovations. 2) Offer students a critical comprehension of how the relationship between workers and management is changing and how this impacts work and company competitiveness. 3) Enable students to assess a range of approaches to improving the nature of work such as skills development and training, programs for reducing race and gender inequality in the workplace, initiatives for improving work-life balance, as well as programs for talent development. 4) Building on the material in the course students should develop concrete strategies to further develop their own careers and preferred management style.

Course faculty: Jette Steen Knudsen
Course duration: Full semester
Credits/Units: 3

EIB B233: Productive Knowledge

The seminar encourages and guides the development of new products and practices and the productive knowledge they embody. We focus on advances, by and for the many, rather than elite, star-centric breakthroughs. This ‘multiplayer’ innovation gives ample scope to individuals of widely varying talents, backgrounds, and interests to contribute and benefit. We study eight foundational challenges – such as specifying goals, evaluation, communication, and motivation – and popular techniques used to address these challenges. Complementary case histories show that imagination, patience, perseverance and so on remain indispensable. The cases also highlight the romance of innovation, reminding us that great adventure has great risks and that what’s safe and easy – or just financially rewarding -- is not always uplifting. A final paper co-written by student teams (instead of a final exam) on a noteworthy innovation integrates the lessons.

Course faculty: Amar Bhidé
Course duration: Full semester
Credits/Units: 3

EIB B234: Strategic Management in Privatizing and Deregulating Industries

This seminar surveys the literature related to privatization, considering both theoretical perspectives and practice. It also explores current issues shaping debates about how to structure the boundary between public and private sector activity in a comparative and interdisciplinary manner. The seminar examines key concepts and policy issues related to privatization and deregulation, looks at different national experiences, and explores the impact of privatization from an industry perspective. Students should come away from the seminar with a deep appreciation of the challenges confronting executives and policymakers dealing with changes to public sector–private sector boundaries in a variety of different settings.

Course duration: Full semester
Credits/Units: 3

EIB B235: Leading the Global Corporation

The course will analyse the major elements required to direct the global corporation from an overall management perspective. Hence, while the course will touch the key issues in finance, human resources, marketing, manufacturing, and other areas, the emphasis will be on integrated, cross functional management decisions and issues, rather than on the detailed technical aspects of each separate area. The course will also focus on the management of change and its related issues. It will draw on readings, cases, and the experience of the Professor.

Course duration: Full semester
Credits/Units: 3

EIB B236: Innovation and Entrepreneurship in the Evolving Context of International Business

This course will prepare students with conceptual frameworks and practical tools for addressing several questions: How does innovation create, sustain or disrupt competitive advantage for international pure- profit and social enterprises, including those targeted at the bottom-of-the-pyramid? How does the international context create distinct situations where innovation influences competitive advantage? How does the rise of emerging markets change the opportunities for innovation and the strategic choice set? What are the challenges facing innovators and entrepreneurial enterprises? The course progresses in four phases. The first phase lays the foundations of innovation as a key strategic lever for disruptive entrants and for incumbents, as well as for those creating a new industry altogether. Subsequent phases build on it by considering the global context, how innovation expands the strategic choice space, and how emerging markets expand it even further.

Course duration: Full semester
Credits/Units: 3

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 organization. Open to students who have completed B200, B231 and/or B291 (or similar courses). Class size will be limited by the number of projects confirmed by external sponsors with a maximum of five projects, or twenty five students, being accepted. Input for the project grade will come primarily from the client project; team self- evaluations will be reflected in individual final grades. Course requires application. Contact the instructor or the TA for more information.

Course faculty: DP Singh
Course duration: Full semester
Credits/Units: 3

EIB B238M: Strategic Management

Effective strategists can: size up the dynamics of the external environment of a firm, covering its economic, political, and social contexts; take a holistic view across all functions and configure all of a firm’s internal choices to give it a competitive advantage; sustain this advantage over time and leverage it into adjacent business and geographic opportunities; use acquisitions and alliances when these are the more effective approaches to support a strategy; create the right organizational context to execute the chosen strategy efficiently; ensure the continuous renewal of the firm in anticipation of and adapting to its changing environment. The objectives of this short course are to master the field’s core concepts and to build the skills needed to be an effective strategist.

Course faculty: Bhaskar Chakravorti
Credits/Units: 1.5

EIB B239M: Corporate Governance in International Business and Finance

This module explores business, financial and legal issues affecting corporate governance and management of risk, both in industrialized and developing countries. Students will examine the nature of the corporation, management roles and board responsibility, the role of regulatory authorities, as well as corporate culture, corporate social responsibility, and capital market development. The course will focus on policy implications, including widespread efforts to produce corporate governance reforms and set standards in the wake of corporate scandals and systemic risk. Also listed as L239M.

Credits/Units: 1.5

EIB B241: Financial Inclusion: A Method for Development

This course explores financial solutions to eradicate poverty. It sheds light on how financial services to the poor began with microcredit and slowly evolved into an industry that includes mainstream financial institutions, global payment and transfer systems, as well as NGOs and microfinance institutions. The course examines a changing industry from commercial, anthropological, humanitarian, and social service perspectives. The course has no prerequisites.

Course duration: Full semester
Credits/Units: 3

EIB B242: Innovation Models for Building Inclusive Businesses

The needs of the global sustainable development agenda are both broad and urgent; innovation models are central to addressing them in a timely, efficient and scalable manner. From promoting inclusive growth to ensuring the longevity of natural resources to addressing issues across the state of the human condition, there are many problems to be solved. Inclusive business - including large MNCs, social enterprises to impact investors - recognize that the private sector will increasingly play a lead role in solving such problems and closing the gaps. Such gaps-closing can cost $3-5 trillion annually, according to some estimates; the value that businesses can unlock while closing the gaps are estimated to be in the range of $12-15 trillion a year. This suggests a macro level business case supporting the mantra of "doing good while doing well." This course will prepare students with a practical micro-level understanding of this opportunity, why the private sector is essential in solving sustainability and inclusion problems, what barriers get in the way of following through on this seemingly compelling logic, and how the solution lies in developing robust and scalable "inclusive innovation" models that overcome the key barriers. The course will help students with a framework for archetypal inclusive innovation models and where to apply them, identify how to specifically construct them and dig into specific models in practical case examples and draw broader conclusions. Graduates of this class will leave with a set of inclusive innovation models that they can apply to their own future organizations - an existing large business, a social enterprise, a start-up they have founded, a client they are advising as a consultant, board member or an investor. They will leave with conceptual frameworks, practical tools and skills and case examples for pattern recognition and practicing analytical problem-solving to apply elsewhere.

Course faculty: Bhaskar Chakravorti
Course duration: Full semester
Credits/Units: 3

EIB B243M: Market Approaches to Economic Inclusion

Examines how commercial, government, and non-profit stakeholders engage market forces in a range of crucial services to improve the lives of low-income customers. We explore strategies that affect sectors such as education, energy, and agriculture as well as approaches to scaling at the last mile, in particular, the use of agents and franchising. The course poses uncomfortable ethical dilemmas that the class will debate. Using lectures, case studies, and human-centered design activities, each class explores a different method of tapping value chains and market ecosystems. Student teams work with "live cases" or real clients to enhance their learning and are expected to present their findings to a panel of judges at the end of the semester. Skills acquired in the course include business design and analysis, client management, and presentation skills.

Course faculty: Kim Wilson
Credits/Units: 1.5

EIB B244M: Financial Inclusion and the Informal Economy

The informal economy brims with activity and innovation, yet it is precisely its informality, that leaves it unshielded by the state. Seen as a hub of innovation and employment by some and as a shelter for tax-evasion and trafficking by others, the informal economy is a massive contributor to a country’s GDP. We begin with theory but very quickly enter into practical examples of how people cope in their informal world examining their businesses, their agricultural activities and their financial management. We end by glimpsing into the dark side of the informal economy - the shadowy areas of smuggling and informal finance. The course will give students an understanding of the vibrant and immense world that operates under a state’s regulatory radar so that as future policy-makers and practitioners they can design better protections, programs and products suited to the informal sector. Students who have taken B241 (Financial Inclusion) should not take this course.

Course faculty: Kim Wilson
Credits/Units: 1.5

EIB B245M: Research, Design and Action in the Informal Economy

The informal economy is often the setting for international aid and humanitarian assistance. At times it is the reluctant recipient of well-meaning, but doomed programs and interventions. It is not subsidized initiatives alone that flounder in the informal economy. So too do water purification companies, mobile money operators, and solar lamp providers. They wonder why huge swaths of the informal market fail to adopt their innovations. The problem is that big data and surveys don’t always generate the nuanced information that decision-makers need to design suitable products or services. This course dives into methods that produce evidence to enlighten decision-makers and pave the way to better product and program designs. This course focuses on researching individuals and groups living and working in the informal economy and on designing products and services for them. B244M First year students are encouraged to take B244M prior to this module.

Credits/Units: 1.5

EIB B252: Corporate Social Responsibility in the Age of Globalization

Western firms operating in or sourcing from developing countries are increasingly held responsible for a range of issues such as labor rights and human rights that have previously been seen as outside a firm’s sphere of influence. Today stakeholders as diverse as investors, employees, the media, NGOs and customers have strong views on how corporations should be run including how corporations should deal with this new agenda. Corporate social responsibility (CSR) initiatives have grown tremendously over the past decade or so in order to deal with these many social and environmental challenges. Some critics argue however that CSR is an oxymoron and point to cases of corporate irresponsibility. Others such as the former US Secretary of Labor Robert Reich sees CSR as intruding on the proper responsibility of government. We will consider these broad claims of CSR strengths and weaknesses throughout the course.

Course faculty: Jette Steen Knudsen
Course duration: Full semester
Credits/Units: 3

EIB B254: Cross-sector Partnerships

This seminar offers an in-depth overview of cross-sector partnerships. The starting point is that finding solutions to today’s complex social problems must incorporate the resources and expertise of governments, civil society and business. The seminar addresses collaborations between the public, non-profit and private sectors and highlights different forms of cross-sector partnerships such as multi-stakeholder initiatives, public private partnerships, cross-sector social initiatives, cause-related marketing, and event-sponsorship. The seminar analyses conditions for successful cross-sector partnerships as well as some limitations of such programs. The course also addresses how “multi-nationalization” of business can drive the emergence and configurations of cross-sector partnerships. Finally, the seminar emphasizes the growing importance of social impact assessment for cross-sector partnerships. The aim of this course is to arm students with the analytical skills and knowledge necessary to form, evaluate, and critique cross-sector partnerships and decisions about how to engage in such programs for governments, NGOs and corporations.

Course faculty: Jette Steen Knudsen
Course duration: Full semester
Credits/Units: 3

EIB B260: International Marketing

This course introduces students to the fundamentals of marketing in a global environment. It addresses the problems encountered by all organizations—small and large, for profit and non-profit—as they operate in an international environment. The full range of marketing activities is covered: marketing research, product policy, branding, pricing, distribution, advertising and promotion, customer service, planning, organization, and control. While internationally oriented in nature, the aim of the course is also to build a significant understanding of classic marketing management principles. Non-traditional aspects of international marketing (e.g., nation branding) will also be considered for a variety of constituencies.

Course duration: Full semester
Credits/Units: 3

EIB B262: Marketing Research and Analysis

This course adopts a comprehensive hands-on approach to designing and conducting research. From classic opinion research to social media analytics, a wide range of contexts, problem areas, and methods are covered that are relevant across disciplines and fields of study. Students will be exposed to the various stages of the research process from recognizing the need for research and defining the problem to analyzing data and interpreting results. Proper design of research methods, fieldwork, questionnaires, and surveys (e.g., online surveys) is covered. Both qualitative (e.g., focus groups, projective techniques) and quantitative approaches (e.g., cluster, discriminant, and factor analysis) are presented. Various analytical techniques are introduced “hands on” via a series of computer exercises and cases (using SPSS and Excel).

Course faculty: Bernard L. Simonin
Course duration: Full semester
Credits/Units: 3

EIB B263M: Marketing Management

It is not an overstatement to say that all non-monopolistic companies, NGOs and even government-sponsored organizations live or die by their ability to effectively market their products and services. In today’s hyper-competitive global markets, organizations that excel at identifying their customers, determining how to meet their interests and needs, and delivering an outstanding experience will be the winners. This course will cover six key market functions and responsibilities: understanding the roles and responsibilities of a marketer; segmentation: identifying and targeting your best customers; strategic social media: when, how, what and with who; sales enablement and support; brand strategy; delivering a superior customer experience. We will look at marketing issues facing both private and non-profit sector organizations. All the topics in the course will be discussed in an international context, including the unique issues that marketers face in global markets.

Course faculty: Bernard L. Simonin
Credits/Units: 1.5

EIB B264: Strategic Marketing for Non-Profit Organizations

This course offers a comprehensive coverage of the fundamental issues in marketing and branding in nonprofits. The aim of this course is to arm students with the analytical skills and knowledge necessary to make, evaluate, and critique marketing and branding strategy decisions facing nonprofit organizations in an increasingly global arena. The course addresses how to craft a nonprofit marketing strategy; implement a coherent marketing plan and optimize the use of marketing resources, develop brand identity and positioning statements; leverage brand alliances and partnerships; and perform financial brand valuations.

Course faculty: Bernard L. Simonin
Course duration: Full semester
Credits/Units: 3

EIB B270M: Business Groups in Asia

While Asian economies are increasingly important to the world, a full understanding of how such economies are organized is difficult to achieve without some consideration of business groups. This seminar looks at business groups in a number of economies, including Japan, the Republic of Korea (South Korea), the Republic of China (Taiwan), Hong Kong, Singapore, and the People’s Republic of China (PRC). The goal of the seminar is to put Asian business groups in their historical, political, and economic context, and then to examine current conditions in an effort to give some insight into future trends.

Credits/Units: 1.5

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 (PRC). For MIB students, this course is one of the regional course options.

Course faculty: Jonathan Brookfield
Credits/Units: 1.5

EIB B273: Emerging Africa in the World Economy

This course aims to expose students to African economies in the larger context of the global economy and the continent’s quest for prosperity and an interrogation of the “Africa Rising” narrative. The course will examine the impact of globalization on Africa’s economies and whether African countries can turn globalization into an opportunity or whether there are alternative paths to economic transformation. Emerging Africa in the World Economy will examine the role of capitalism, entrepreneurship and the private sector in African countries, and the nexus at which business intersects with public policy as a framework for economic growth and development. In this context, the course examines the roles and importance of finance and financial markets, foreign investment, and innovation, using examples from the different parts of the continent.

Course duration: Full semester
Credits/Units: 3

EIB B277M: Business and Political Economy in Latin America I

Doing business in Latin America is syncretic and complex. In this part I of Business and Political Economy in Latin America, we discuss the characteristics of the business environment that make Latin America a unique place for doing business. This module examines the business environment in Latin America through a multidisciplinary approach weaving business history, political science, economics and international business. We develop a comparative institutional approach to analyze how the political economy of development, hierarchical market economies, political institutions, state capitalism and corruption have shaped business in the region. This course is designed to be hands-on and interactive. While you will be exposed to both classic readings and new empirical research, the dynamics in the classroom will favor interactive group work and case analysis. At the end of this course, you will develop a deeper and multidisciplinary understanding of the business environment in Latin America.

Credits/Units: 1.5

EIB B278M: Business and Political Economy in Latin America II

Creating and delivering value for customers, although necessary, is not a sufficient condition to establish and sustain competitive advantage in Latin America. Successful business models leverage both the market and institutional environments. While the Part I of Business and Political Economy in Latin America provide a deeper understanding of the institutional environment that has shaped businesses in the region, in this Part II, we draw from strategy, innovation, and the international business literature to take a managerial standpoint and focus on the decisions regarding the strategy and organization of local and foreign multinationals in Latin America. Although highly desirable, the Part I of the course is not a prerequisite to Part II. This course was designed to be hands-on and interactive. While you will be exposed to both classic readings and new empirical research, the dynamics in the classroom will favor interactive group work and case analysis. At the end of this course, you will be familiarized with winning strategies in Latin America, the dilemmas managers face while organizing and strategizing in the region, and will improve your analytical skills to make informed business decisions when doing business in Latin America.

Credits/Units: 1.5

EIB B280: The Global Food Business

The purpose of the course is to introduce the student to the rapidly expanding global food business. The growing, processing, distribution, and marketing of food are major and necessary economic endeavors 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 course focus will be to introduce the student to the management, business strategy, marketing, research, and analytical skills required in the international food business.

Course duration: Full semester
Credits/Units: 3

EIB B281M: Managing Operations and Supply Chains in Global Companies

A management-oriented, case study-based course on how companies design, manage, and measure operations around the globe today. The core topics will be: the exercise of competitive advantage through operational capability; business process design; supply chain management; lean operations; disruptive operations innovations; operations networks and connectivity; talent management; the managerial metrics revolution; etc. Readings and cases will focus on both the operations themselves and the management issues surrounding them.

Course faculty: Thomas M. Hout
Credits/Units: 1.5

EIB B283: Impact Investing

Impact investments are investments made with the intention to generate positive, measurable social and environmental impact alongside a financial return. As such, they challenge the perspective that social and environmental problems could only be addressed by government, multilaterals, and philanthropy and that market investments should only seek financial returns. As the world faces unprecedented challenges, the impact investing market plays a critical role in providing much needed capital and strategic partnerships to help address the world’s most pressing social and environmental problems. Social issues include access to health care, housing, education, clean water, financial inclusion, and safe work conditions. Environmental challenges include not only climate change, but also biodiversity and sustainable agriculture. This class will focus on impact investing, discerning how it fits among other investing strategies in the broader sustainable investing ecosystem. We will discuss concepts including SRI, ESG, and UN SDGs, debate what is and what is not impact investing, and we will evaluate important tools and resources to measure and manage the social and environmental impact of investments. The format is interactive with a combination of case studies, workshops, lecture, and guest speakers. Goals include: developing fluency on the broader sustainable investing ecosystem, which includes SRI, ESG, UN SDGs, thematic, and impact investing strategies; understanding key characteristics of impact investments and tools to recognize “green-washing” or “impact-washing”; learning the basics of impact management, including industry frameworks, impact measurement tools, different investment vehicles, and best practices.

Course faculty: Quyen Tran, Leticia Emme
Course duration: Full semester
Credits/Units: 3

EIB B291: Leadership: Building Teams, Organizations, & Shaping Your Path

This course explores the fundamental aspects of managing and leading people including: managing one-on-one relationships; influencing team behavior; and motivating and aligning people behind a common vision. It also examines the challenges and tradeoffs in creating a meaningful personal leadership path, especially in the early stages of your career. The course pedagogy is case-method discussion, drawing primarily on cases from the private sector, supplemented with comparative material from the public sector and civil society. This course will provide you with a number of critical concepts and competencies that will be useful in both the short term and long term. It will help you to make the transition from an individual contributor to a manager and, over time, build a career of increasing responsibility as a leader.

Course faculty: Alnoor Ebrahim
Additional faculty: Gautam Mukunda
Course duration: Full semester
Credits/Units: 3

EIB B295M: Negotiating International Leadership

This module explores the nature of leadership in the international context. Drawing upon academic literature and case studies of influential leaders, the class introduces the various models of leadership and the diverse functions of a leader across a range of international environments and organizations. The basic goals of the course are three fold: 1) to enable students to understand the nature of leadership across different sectors in different international settings; 2) to give students the tools to analyze various leadership situations and problems; and 3) to help students develop leadership skills in light of their own leadership ideas and ambitions. A key premise of this class is that leadership is an exercise in negotiation, a task of influencing other persons to act in desired ways for the benefit of an organization or group. The act of leadership on the global stage – in multilateral organizations, multinational corporations, international non-profits, and diplomatic posts – is particularly complex, and it requires an appreciation of different concepts and cultures of leadership. A key aim of this module, then, is to understand how leaders exercise influence inside and outside their organizations, particularly within the international environment. . A student’s final evaluation in the course will be based on a paper of not more than 3000 words (65%) and participation in class sessions (35%). The course has no required pre- requisites, although a basic knowledge of negotiation theory and practice is recommended.

Cross-listed as DHP D209M

Course faculty: Jeswald Salacuse
Credits/Units: 1.5

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.

Course faculty: Carsten Kowalczyk
Course duration: Full semester
Credits/Units: 3

EIB E210M: Quantitative Methods

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.

Course faculty: Michael W. Klein
Credits/Units: 1.5

EIB E211: Microeconomics

The goal of this course is to equip students with the major analytical tools and concepts of microeconomics necessary in subsequent economics courses, in everyday life, and in the professional world. To this end, I put special emphasis on applications of economic theories to the fields of public policy, business cases, and pricing strategies. The topics include consumer theory, welfare economics, pricing, and game theory. Students are required to be concurrently enrolled in E210m, unless they have passed the Quantitative Reasoning equivalency exam.

Course faculty: Shinsuke Tanaka
Course duration: Full semester
Credits/Units: 3

EIB E212M: Macroeconomics

Intermediate level course in macroeconomic theory and practice oriented toward industrial economy issues, with explicit, frequent reference to the global economic and financial turbulence of the last five years. Begins with rigorous coverage of national income accounting and definitions of the most important macroeconomic variables. Covers short-run Keynesian underemployment equilibria, money and financial assets, labor markets, inflation, economic growth and technological change, monetary and fiscal policy, the origins of the financial crisis of 2007-08. Includes interpretation of the most important macroeconomic indicators. Prerequisite: Comfort with basic economic principles at level of E201 or equivalent.

Course faculty: Michael W. Klein
Credits/Units: 1.5

EIB E213: Econometrics

This course introduces students to the primary tools of quantitative data analysis employed in the study of economic and social relationships. It equips students for independent econometric research and for critical reading of empirical research papers. The course covers ordinary least squares, probit, fixed effects, two-stage least squares and weighted least squares regression methods, and the problems of omitted variables, measurement error, multicollinearity, heteroskedasticity, and autocorrelation. Prerequisites include familiarity with (1) basic probability and statistics (B205), and (2) basic concepts of functions and derivatives (E210m or an introductory calculus course).

Course faculty: Julie Schaffner, Jenny Aker
Additional faculty: David Garman
Course duration: Full semester
Credits/Units: 3

EIB E214: International Economic Policy Analysis

This seminar teaches skills that enable students to bridge the gap between coursework in economics and the types of economic analysis used in both government and private sector settings. These skills and tools build on material taught in Econometrics. The topics addressed in the seminar include a range of timely and policy-relevant issues in international economics and macroeconomics. The seminar will also focus on the use of empirical analysis for writing concise, effective policy memorandums. Open to students who have completed E213, which may be taken concurrently.

Course faculty: Michael W. Klein
Course duration: Full semester
Credits/Units: 3

EIB E215: The Economics of Public Policy

This course examines the economic role of the state and the potential and limits of public policy. It analyzes the rationale for public goods and publicly provided private goods, the role and economic impact of taxation and the scope for public policies and regulation in the presence of economic inequality, externalities, asymmetric information, imperfect competition and other market failures. The course analyzes public policy in areas such as defense, law and order, taxation, education, health, the environment, the labor market, financial markets and oligopolistic markets. It also analyzes the role of monetary and fiscal policy in stabilizing the economy.

Course duration: Full semester
Credits/Units: 3

EIB E216M: The Economics of International Financial Crises

The first half of the course focuses on the basic economics of banking and international finance. It reviews the economics of banking, international financial markets and exchange rate determination, and the financial implications of current account imbalances. It also examines the implications of leverage for the solvency of households, firms, governments and banks. The second half of the seminar focuses on the three major post-1970s financial crises, i.e. the Latin American crisis of the 1980s, the Asian Crisis of the 1990s and the Eurozone crisis of the 2010s. The systemic as well as the country specific causes and consequences of the three crises are also examined in detail.

Credits/Units: 1.5

EIB E217M: Managerial Economics

This course is a brief introduction to management issues presented from the perspective of economics. The focus is on the strategic responses a firm can make regarding both its internal organization and its external interaction with both consumers and other firms. Students will learn the role of economic analysis in determining organizational design and developing competitive strategies whether the organization is a for-profit firm or a non-profit enterprise.

Course faculty: Daniel Richards
Credits/Units: 1.5

EIB E218: Applied Microeconometrics

This course is designed for students who are interested in learning advanced econometric techniques to answer a broad array of academic empirical research questions. To this end, this course provides a set of theoretical and practical econometric techniques for conducting high-quality empirical research. The curriculum is oriented toward applied practitioners by focusing on research design and methods for causal inference. The course covers several of the most commonly used estimation techniques (i.e., matching, fixed effects, difference-in-differences, instrumental variables, and regression discontinuity). Econometrics (at the level of E213) is a strict prerequisite and may not be taken concurrently.

Course duration: Full semester
Credits/Units: 3

EIB E219M: Economic Theory and Policy

This course applies economic theory to current issues and policy. The course considers various economic modeling strategies, the roles of positive and normative analyses, the relationship between theory and data, models of rational and behavioral economics, welfare economics, externalities and public goods, models of the firm and other types of organizations, and discrimination in national and international transactions and within organizations. The course considers also instruments of government spending and financing, and how monetary policy can affect real economic activity. Course Prerequisites: E201, E211, or permission of the instructor.

Credits/Units: 1.5

EIB E220: International Trade and Investment

This course investigates why nations trade, what they trade, and the distribution of the gains and the political economy 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 completed E211, or with instructor’s permission.

Course faculty: Carsten Kowalczyk
Course duration: Full semester
Credits/Units: 3

EIB E221: Advanced International Trade and Investment

This seminar presents the analytical economics and political economy of different integration strategies, and then applies these to WTO multilateral initiatives, Brexit, NAFTA, the Trans-Pacific Partnership, Mercosur, and the Trans-Atlantic Trade and Investment Partnership. Other topics this semester include the effects of Covid on trade and investment and international policy cooperation, supply chains and economic welfare, infra-structure and foreign aid, and multinationals and international taxation. The seminar format is a workshop with lectures, student presentations and discussions, a student research paper, and a conference. Open to students who have completed E220, other upper-level economics courses, or with permission by instructor.

Course faculty: Carsten Kowalczyk
Course duration: Full semester
Credits/Units: 3

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. Theory is developed and employed to study current events, as well as historical experience. Issues studied include exchange rate determination, monetary and exchange rate policy, the causes and consequences of external imbalances, international policy coordination, financial crises, and the global capital market. Open to students who have completed E201 or equivalent. E210m is suggested, and may be taken concurrently, but is not required.

Course faculty: Michael W. Klein
Course duration: Full semester
Credits/Units: 3

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. There will be a focus on the worldwide financial and economic crisis that began in 2008. This module should appeal to students with interests in economic policy, financial and portfolio management, and international business.

Credits/Units: 1.5

EIB E240: Development Economics: Macroeconomic Perspectives

This course provides an introduction to several central themes in development economics. The organizing framework is pro-poor economic growth. 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 E201 or equivalent.

Course faculty: Steven A. Block
Course duration: Full semester
Credits/Units: 3

EIB E241: Development Economics: Policy Analysis

This course equips students for rigorous economic analysis of development problems and policies. The first half of the course develops tools for studying the decisions, markets and institutions that shape development outcomes. The second half develops an approach to policy analysis that draws on those tools. Students apply the approach in the study of policy questions related to cash and food transfers, agricultural pricing, infrastructure, education, agricultural technology, microfinance, and health. Emphasis is on rigorous reasoning, careful synthesis of empirical evidence, and effective communication of policy analysis results. Open to students who have completed E201 or the equivalent.

Course faculty: Julie Schaffner
Course duration: Full semester
Credits/Units: 3

EIB E242: Development Economics: Micro Perspectives

This course teaches students how to use microeconomic theory and econometric skills to analyze issues in low-income countries, develop policy interventions to address those issues, and measure the impact of such interventions in a rigorous empirical manner. It then addresses the issues that constrain and support development, particularly in sub-Saharan Africa: health and education, labor, agriculture, financial services, and institutions. Open to students who have completed E211 or an intermediate microeconomic theory course. E213 is strongly recommended.

Course faculty: Jenny Aker
Course duration: Full semester
Credits/Units: 3

EIB E243: Food Systems and Policy in Developing Countries

This seminar examines a range of issues relating to food systems, employing tools of economic analysis to understand potential public policy interventions. We will draw on both theory and case studies to understand the determinants of food consumption and production, the role of agricultural marketing, the political economy of agricultural trade and pricing policy, the effects of globalization on food security, as well as the implications of climate change and the role of genetic modification of crops for food security, and the role of agriculture in economic growth and poverty alleviation in developing countries. While cases will be drawn primarily from Asia, Latin America, and Africa, we will also follow Ethiopia as a specific case throughout the course. Examining a wide range of challenges in the context of a single focus country will deepen our appreciation of the complexities facing policymakers who confront the full range of multi-dimensional challenges confronting food systems.

Course faculty: Steven A. Block
Course duration: Full semester
Credits/Units: 3

EIB E244: Political Economy of Development Policy: Theory and Practice

Combines economic and political perspectives to develop an interdisciplinary understanding of selected topics in economic development. Each session addresses a particular question that arises as policymakers contend with the dynamic interplay between economics and politics as competing influences on policy choice. How can it be rational for policymakers to adopt policies that harm a majority of their own citizens? In what ways do institutions shape the development process? How does history shape the evolution of institutions? Do elections lead to better or worse policy choices? Does democracy benefit the poor and promote economic growth? Comprehensive answers to these types of questions require a political economy perspective -- one that combines an understanding of the underlying economics with consideration of the interests and political influence of various stakeholders and pressure groups. In addition, a central goal of this seminar is to bridge the gap between theory and practice by providing tools for incorporating political economy perspectives into development policy analysis.

Course duration: Full semester
Credits/Units: 3

EIB E245: Econometric Impact Evaluation for Public Policy and Social Programs

This course will cover econometric impact evaluation theory and empirical methods for evaluating public policies and social programs. The curriculum is oriented toward applied practitioners by focusing on research design and methods most commonly used for establishing causality and measuring the impact (e.g., randomization, matching, fixed effects, difference-in-differences, instrumental variables, and regression discontinuity). Students will learn to critically read, analyze, and evaluate papers using these techniques and implement them in your own research, which potentially leads to the capstone. The topics include a broad array of academic empirical research questions in diverse fields of economics, including labor, education, development, health, and environmental economics. Econometrics (at the level of E213) is a strict prerequisite and may not be taken concurrently.

Course faculty: Shinsuke Tanaka
Course duration: Full semester
Credits/Units: 3

EIB E246: Environmental Economics

This course is designed for students interested in learning theoretical approaches and empirical tools economists use to analyze environmental problems and policies. Topics include 1) Modeling environmental problems from an economic perspective, using market theory, a public goods model, and externality theory; 2) Analyzing regulatory policies and pollution-control instruments based on command-and-control approach and the market-based approach; and 3) Assessing the costs and benefits of environmental goods and policies using contingent valuation and hedonic pricing methods. Open to students who have completed E201.

Course faculty: Shinsuke Tanaka
Course duration: Full semester
Credits/Units: 3

EIB E247: Econometric Impact Evaluation for Development

The course will cover econometric impact evaluation theory and empirical methods for measuring the impact of development programs (including randomization, difference-in-differences, regression discontinuity, and propensity score matching). The curriculum will combine theory and practice. The primary objectives of the course are to provide participants with the skills to understand the value and practice of impact evaluation within development economics, design and implement impact evaluations and act as critical consumers of impact evaluations. Econometrics (at the level of E213) is a strict prerequisite and may not be taken concurrently.

Course enrollment limited to 40 students.

Course faculty: Jenny Aker
Course duration: Full semester
Credits/Units: 3

EIB E248: Agriculture and the Environment

Agriculture is an essential, politically charged source of economic growth, the primary livelihood for billions of the world’s poor, a disproportionate target for government spending, and an irreplaceable source of food and nutrition. It has come to occupy more than ¼ of the earth’s surface, wholly transforming the very natural systems on which it relies including biodiversity, hydrologic cycles, nutrient flows, and climatic conditions. Meanwhile, demand for food is projected to double by 2050, posing substantial challenges and opportunities at the intersection of agriculture and the environment. The course is designed to enable students to become informed consumers of cutting edge research, policies and business practices for balancing agricultural production with environmental protection. Specific topics explored will include climate change impacts, adaptation, and mitigation, deforestation, changing demand for agricultural products, determinants of agricultural productivity, and political and economic dimensions of agricultural development. The course will entail lecture, discussion, student-led discussion, problem sets, and a group policy memo. Prerequisites are E211 and E213 or equivalent with consent of the instructor.

Course duration: Full semester
Credits/Units: 3

EIB E250: Economic Problems of Latin America

Examines the diverse reasons for which many middle-income nations have failed to realize their potential in terms of economic growth and stability over the past quarter century. Emphasis placed on macroeconomic policies and their responsibility for middle-income nations’ many crises. Perspective decidedly economic, but the course never loses sight of the role played by political institutions in shaping economic policy, thus national well-being. Each problem illustrated with cases drawn from recent Latin history. Emphasis on Argentina, Brazil, and Mexico within 18-nation universe. Prior mastery of basic macroeconomic theory essential; familiarity with the Latin region helpful, but not required.

Course duration: Full semester
Credits/Units: 3

EIB E251: The Economics of the European Union

This course examines the Economics of the European Union and the Euro Area. It analyzes the current state of the European Union, its institutional set up, it main policies and problem areas, and its role in the global economy. It also traces the development of the European Union from its origins as the European Economic Community through today’s European Union of 28 members, and the development of the Euro Area from the European Monetary System to the creation of the Euro and the crisis in the Euro Area. The course examines both the microeconomics and the macroeconomics of European integration and its impact on the rest of the world, including the USA. No prerequisites, although basic knowledge of microeconomics, macroeconomics and quantitative methods would be useful.

Course duration: Full semester
Credits/Units: 3

EIB E253: Climate Change Economics

This course provides an economic overview and analysis of climate change. We will also use the DICE model, a well-known integrated assessment model (IAM) to illustrate and explore key issues in modeling climate change and policy responses.

Course duration: Full semester
Credits/Units: 3

EIB E262: The Economics of Global Health and Development

This course examines economic aspects of public health issues in developing countries. As such, the course is structured into three parts. Part I illustrates an overview of current status of global health and examines the returns of health to economic development. Part II investigates constraints in demand for health that lead to suboptimal investments into health, including externalities, credit/liquidity constraint, pricing, education, and gender bias and intra-household resource allocation. Part III covers issues related to supply of health: health care delivery, quality of health care, and roles of political economy. Whereas applications to modern health issues include HIV/AIDS, malaria, air pollution, water pollution, worms, anemia, and early childhood health, this course emphasizes statistical tools and research designs used in empirical development economics. Open to students who have completed E201. E213 is strongly recommended.

Course faculty: Shinsuke Tanaka
Course duration: Full semester
Credits/Units: 3

EIB E280: Economics and Management of Technology

This course takes a systematic approach to the question of technology based on three questions. What is the economic-historical context of particular technologies? Why do people invest in new technologies given the risks and uncertainties involved? How does a new technology influence the economy and the political environment? We will use the tools of microeconomics to see the common, recurring trajectories that new technologies follow. The goal of the course is to develop a systematic framework based on these what, why, and how questions. By mastering this framework, we can then evaluate a technology in context and avoid some of the confusion stemming from its inherent newness. Students must have a course in microeconomics, either at Fletcher or elsewhere, in order to take this class.

Course duration: Full semester
Credits/Units: 3

EIB E290: Doctoral Seminar in Research Approaches and Methods

Coming soon....
Course is for 2nd year EPP students only.

Course faculty: Jenny Aker
Course duration: First half
Credits/Units: 3

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.