PROGRAMME OF LECTURES

Courses – Quarter 2/3/4

GOING INTERNATIONAL

This course explores strategic decisions on alternative market entry options and subsequent developments of market position. It is based on the application of industrial organization theory to the challenges of managing entry. Specific topics include export choices, local production, licensing or other forms of contractual agreements. The course deals with the question of entry designed to serve the local market or the building of export platforms. Ownership policies are also covered.

HUMAN CAPITAL

This course deals with the tools of human resource management and is based on aspects of personnel economics and organizational behaviour. Topics include managing individuals’ mobility and adjusting the human capital asset by means of hiring, promotions, training, buyouts and layoffs.

INTERNATIONAL FINANCE I

This course is based on the theory of capital budgeting, portfolio selection and the capital asset pricing model. In addition, the course explores the working of financial markets in the context of open economies.

INTERNATIONAL FINANCE II

This course is concerned with understanding the currency markets and the financing of cross-border mergers and acquisitions. International monetary macroeconomics is used as the basis for understanding exchange-rate movements and currency crises. The course also covers the management of foreign exchange transactions, including spot and forward markets and hedging strategies and their application to transfer-pricing regimes. The process of managing mergers and acquisitions – from due diligence to postmerger integration – is mainly treated from a financial perspective. Particular emphasis is given to the growing importance of private equity.

INTERNATIONAL SUPPLY CHAIN MANAGEMENT

This course presents the guiding principles of building and controlling global supply networks. It is based on theories of imperfect contracting, transaction costs and asymmetric information. The course examines the location choices for the supply of goods and services across countries and the responses to changing international economic environments. It also includes the design and management of logistic networks. The problems of managing market imperfections in global production networks which may result from specific investment and reduced costs is examined in some detail.

KNOWLEDGE AND INNOVATION

This course explores the dynamics of knowledge transfer and the creation of new knowledge in entrepreneurial processes. It is based on the economics of information goods and the evolutionary theory of technological progress. Specific topics include the protection of intellectual property and the allocation of research and development resources across countries. In addition, the course focuses on innovation driven by changing business models and the impact of digital media.

INTERNATIONAL MARKETING

This course develops the principles of global market analysis and examines the optimal degree of differentiation of products, prices, promotion and distribution across countries. It is based on the theory of price and quality differentiation and includes the timing and sequencing of international market entry across countries. The course also explores how borderless e-commerce opens up new opportunities.

REGIONS OF THE WORLD

In order to ensure students understand the dynamics of national and regional markets, they are required to choose two of four courses on Regions of the World: Latin America, Western Europe, Eastern Europe and Asia. Each course combines study of the economic and cultural fundamentals of the region with the major players in business and society. Students learn how local conditions influence effective personal behaviour (e.g. negotiations). Students can only choose a region that is not their home region.

GLOBAL ECONOMICS / GLOBAL MANAGEMENT

Both the second and the third quarter include a seminar, one on Global Economics and the other on Global Management. The specific content of the seminars vary and is chosen by the Faculty responsible. Students have to present term papers for discussion in class.

MASTER THESIS

The fourth quarter is mainly dedicated to the preparation of the master thesis. Students apply their knowledge and analytical insights to problems affecting the multinational firms and international organizations cooperating with the Murmann School. Students meet regularly with Faculty and in groups to discuss progress and to receive appropriate feedback. The fourth quarter also includes a seminar where student teams present intelligence reports on the investment climate in specific countries.

previous