ECON 362
Global Competitive Strategies Spring 2019 Division II;

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This course maintains an IO perspective, acknowledging the centrality of large, multinational firms in determining the pattern and success of a nation’s international economic activities (which include, but are not limited to, a wide range of licensing, trade, and diverse configurations of foreign direct investment activities, and their implications for employment, profitability, and social welfare at home and abroad.) In this sense, we depart from international economic approaches that focus foremost on the ways in which a country’s factor endowments, domestic market characteristics, and government policies promote or impede such activities, although in our treatment we do not neglect these factors, but treat them as constraints upon, or resources supporting, the optimizing behaviors of large firms. During and following a case-based module in which we learn and simulate the strategic decision processes used by executives of multinationals, we examine the actual trade and investment decisions of those firms, compare them to the predictions of international trade and multinational IO theories, and seek to explain divergences where they are identified. Throughout, competitive strategies of domestic and foreign rivals in markets around the world are explored. As well, the types and efficacy of various government policies in promoting the competitiveness of industries in regional and global markets — and how they are linked to recent work in growth theory — are examined. Further, substantial recent shifts in the nature of globalized economic activity, including the changing relative mobility and power of capital and labor, are examined. Finally, welfare propositions and policy ideas for addressing welfare impacts are advanced and discussed. Written cases, class participation, a mid-term exam, and a final paper or exam are expected.
The Class: Type: lecture/discussion
Limit: 25
Expected: 25
Class#: 3210
Requirements/Evaluation: written cases; class participation; a midterm exam; and a final paper or exam
Extra Info: not available for the fifth course option
Prerequisites: ECON 251
Enrollment Preference: senior Economics majors
Distributions: Division II;
Attributes: GBST Economic Development Studies Electives

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