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This course addresses managerial issues in the social, political and legal environments of business. Cases and readings emphasize strategies to improve the performance of companies in light of their multiple constituencies, both within the US and internationally. Most core courses focus on firms' interactions with customers, suppliers, and alliance partners in the form of mutually beneficial voluntary exchange transacted in markets. In contrast, this course considers the strategic interactions of firms with comparably important constituents, organizations, and institutions beyond markets. Issues considered include those involving activist and interest groups, the media, legislatures, regulatory and antitrust agencies, and other forms of political risk. In many of the class sessions, we will draw on theoretical and empirical research in political economy, a field that is particularly relevant for understanding relationships between firms and governments, because (unlike most of economics) political economy focuses on interactions that are neither voluntary nor transacted via money.

What does one need to know about Islam to do business effectively in an Arab country? How can understanding the Protestant ethic help Mexican managers deal with U.S. partners? How does Confucianism influence Chinese business ethics? What are the business advantages of knowing how different countries rate on the spectrum of individualist versus communitarian values? These are the kinds of issues discussed in this course, which seeks to help students who will be engaged in international business during their careers. It aims to examine the deeper levels of attitudes and beliefs, often unconscious, which lie beneath the way business is done in various countries. Information will be provided on major religious and philosophical traditions like Confucianism, Shinto, Buddhism, Hinduism, Islam, Judaism, and Christianity. Some cross-cultural frameworks will also be considered. Case studies and background readings are set in nations like China, Japan, India, the United Arab Emirates, Israel, Mexico and the United States. The class will be discussion-based, drawing on students¿ own life experiences as well as the cases and readings. The hope is to provide a competitive advantage, both theoretically and practically, to students through understanding certain unspoken rules of the game in global business.

This course extends the foundations developed in P680 by applying techniques of microeconomic analysis and game theory to the study of political behavior and institutions. The techniques include information economics, games of incomplete information, sequential bargaining theory, repeated games, and rational expectations. The applications considered include agenda formation in legislatures, government formation in parliamentary systems, the implications of legislative structure, elections and information aggregation, lobbying, electoral competition and interest groups, the control of bureaucracies, interest group competition, and collective choice rules.

This course is offered for students requiring specialized training in an area not covered by existing courses. To register, a student must obtain permission from the faculty member who is willing to supervise the reading.