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Different Economic Institutions, Challenges, Strategies

Module name (EN): Different Economic Institutions, Challenges, Strategies
Degree programme: International Management, Master, ASPO 01.10.2016
Module code: MAIM-162
SAP-Submodule-No.: P420-0265
Hours per semester week / Teaching method: 2V (2 hours per week)
ECTS credits: 3
Semester: 1
Mandatory course: no
Language of instruction:
written examination

[updated 18.08.2016]
Applicability / Curricular relevance:
MAIM-162 (P420-0265) International Management, Master, ASPO 01.10.2016, semester 1, optional course
30 class hours (= 22.5 clock hours) over a 15-week period.
The total student study time is 90 hours (equivalent to 3 ECTS credits).
There are therefore 67.5 hours available for class preparation and follow-up work and exam preparation.
Recommended prerequisites (modules):
Recommended as prerequisite for:
Module coordinator:
Prof. Dr. Matthias Gröhl
Dozenten des Studiengangs

[updated 18.08.2016]
Learning outcomes:
1 Professional Competencies
1.1 Knowledge
The Students can/know/apply
the most recent developments in institutional economics,
the basic instruments of institutional analysis like opportunity costs, asset specificity, opportunism,
  transaction costs,
the meaning of the institutional framework of a society for economic development, growth and welfare,
the relevance of the institutional environment for operational success and strategic setting of
  multinational enterprises,
basic instruments of institutional analysis to real institutional networks like societies and/or regions of
  economic integration.
1.2 Skills
The Students can/know/apply
sophisticated methodological tools from institutional economics like transaction cost analysis, asset
  specificity, governance, rent-seeking and commitment as well as selected topics from game theory for
  analysing different institutional settings,
uses these instruments comprehensively for the whole institutional range of an institutional network, i.e.
  economic, legal and social institutions,
discretely analyse and assess the institutional terms of real institutional networks by applying these tools to
  real markets,
use tools and instruments of institutional analysis for the benefit of multinational companies in context of
  market entrance, market penetration and other market strategies,
transform quantitative and qualitative data regarding the institutional setting of a relevant institutional
  network into metrics supporting managerial decision making.
2 Personal Competencies
2.1 Social Competencies
The Students can/know/apply
due to team oriented case study work as part of this course, reflect, assess and communicate their knowledge of
  and their findings on real institutions in teams,
lead and coordinate teams in a results-oriented fashion,
present and prudently defend team results in a complex and demanding environment.
2.2 Autonomy
The Students can/know/apply
reflect the meaning of social, economic, legal and political institutions for economic development, growth
  and welfare of a society,
manage and transform the theoretical issues of this course with regard to complex and diffuse institutional
  settings (e.g. a new market region) in order to generate new strategic directions,
reflect challenges of a company in the background of the institutional setting of a market,
the interplay between economic regulation and institutional framework and the strategic outline of a company and
  is able to derive an own mind on it,
work out independent ideas and can transform these into a sustainable management initiative.

[updated 02.06.2016]
Module content:
Part a.): A systematic study of institutions that underpin political, social, and economic interactions is crucial for getting an understanding of how differences between markets and societies affect operations and strategic direction of a multinational enterprise. The first part of this course therefore starts with an examination of how formal and informal legal structures protect property rights and enforce contracts. It shows how constitutions and legislative and case law, as well as arbitration and other mechanisms of private order contribute to the efficiency of these structures. In addition, it deals with the study of the networks that constitute the structure of social interactions and the norms that govern their function. Finally, the workings of these institutions and organizations in different cultures is analysed and compared across societies. It will be shown that each society has worked out its own institutional structure and network to be known and to be taken into account for successfully performing cross border operations and strategies. The resulting differences in law, regulation, norms, contractual enforcement and other formal and informal institution have a decisive impact on the incentive structure of a society. Students will not only learn to systematically classify and to capture these coherencies but as well learn how to anticipate them in the context of different market strategies like market entry, market penetration or market defence. In addition, this part describes how a wide range of players´ (organizations) private businesses, policy makers, interest groups and other are involved in the process of designing these market environments.
Part b.): In the second part of the course students learn how to apply this theoretical grid to current structures of economic, legal, political and social - 2 - institutions of current societies and economically integrated regions (such as ASEAN, NAFTA, SACN, SAARC, MERCOSUR, the European Union, and the Eurasian Economic Community).

[updated 02.06.2016]
Teaching methods/Media:
Team based case studies
Results-oriented presentations in oral and written form

[updated 02.06.2016]
Recommended or required reading:
Acemoglu, D., Robinson, J. A. (2012), Why Nations Fail: The Origins of Power, Prosperity and Poverty, Profile Books.
Armstrong, S. (2011): The Politics and the Economics of Integration in Asia and the Pacific, Routledge Chapman & Hall.
Baldwin, R., Wyplosz, C. (2012): The Economics of European Integration, Mcgraw-Hill Professional.
Brousseau, E., Glachant, J.-M. (2008) New Institutional Economics: A Guidebook, Cambridge University Press.Burki,
  J. S. (2012): South Asia in the New World Order: The Role of Regional Cooperation, Routledge Contemporary South Asia.
Cai, K. G. (2010): The Politics of Economic Regionalism: Explaining Regional Economic Integration in East
  Asia, Palgrave.
Chavance, B. (2013), Institutional Economics, Routledge.
Coffey, P. (2008): Latin America - MERCOSUR (International Handbooks on Economic Integration), Springer.
Dabene, O. (2009): The Politics of Regional Integration in Latin America: Theoretical and Comparative
  Explorations, Plagrave.
Ghemawat, P. (2011): World 3.0: Global Prosperity and How to Achieve It, Harvard Business Review Press.
Groenewegen, J., Spithoven, A., and Van Den Berg, Annette (2010), Institutional Economics: An Introduction,
  Palgrave Macmillan.Lim, T. W. (2011): Economic Integration and Regionalism in Asia, World Scientific Publishing.
Kasper, W., Streit, M. E., Boettke, P. J. (2012), Institutional Economics: Property, Competition, Policies,
  Edward Elgar Publishing.
Oster, S. M. (1999), Modern Competitive Analysis, Oxford UniversityPress.
Roland, G. (2004), Transition and Economics: Politics, Markets, and Firms, MIT Press.
Taube, M., Lambsdorff, J. G., Schramm, M. (2006), The New Institutional Economics of Corruption, Routledge.
Thornton, P. H., Ocasio, W., Lounsbury, M. (2012), The Institutional Logics Perspective: A New Approach to
  Culture, Structure and Process, Oxford University Press.
Scott, W. R. (2013) Institutions and Organizations, Sage Publications.

[updated 02.06.2016]
[Tue Aug 16 02:08:22 CEST 2022, CKEY=ideics, BKEY=imm3, CID=MAIM-162, LANGUAGE=en, DATE=16.08.2022]