International Study Project
C45.0100.010
Spring 2005
Tuesdays and Thursdays, 3:30-4:45 PM
Room UC61 Tisch
Thomas Pugel
Professor of Economics and Global Business
Office Room 7-85 KMC
Telephone 212-998-0424
Fax 212-995-4221
Office hours: Wednesdays 1:00-3:00 PM
and by appointment
and by drop-in
James T. (J.T.) Farley
Teaching Fellow
Office hours to be announced
Course Description
The International Study Project (ISP) course is a follow-on to the Global Business Environment (GBE) course. A central objective of the GBE course was to introduce students to the causes and consequences of economic globalization. Still, globalization is only partial--the sometimes wide differences in the institutional contexts within which business is conducted in different national settings were also noted. These differences are driven by historical, politico-legal, social, and cultural forces as well as economic realities, and can result in significant divergences in actual national goals, policies, and economic achievements.
The main objective of the ISP course is to enrich students' understanding of variations in the institutional contexts of nations and the impact of these variations on national economic growth, globalization, and the management of multinational firms. Pursuit of that objective will start by developing a framework for country analysis that can be applied to understanding
- the economic performance of any country in the world, and
- the challenges, opportunities, and risks to multinational firms of doing business in any country in the world.
Subsequent class sessions in the first half of the course will then apply this framework to Japan.
Pursuit of the main course objective will then proceed with a visit to Japan, during which students will be able to observe directly how Japan’s institutions impact how business is done there. While in Japan students will participate in presentations and discussions with multinational company managers headquartered there, with faculty teaching there, and with local government officials. In addition, students will have time on their own to explore the history, cultural sites, and local customs of Japan.
After returning from Japan each student group will prepare and present a report that diagnoses major performance problems and opportunities facing the company visited, and that makes strategic recommendations to its management to effectively address those problems and opportunities. Shortly after returning from the trip to Japan, each student will also complete an individual written report that analyzes the role of the national setting of the company visited as an influence on its international competitiveness.
The course will culminate in a school-wide competition among top student groups from all sections of the International Study Project course.
Required Materials
Most of the required reading for the course is in two items (available in the bookstore):
Chapters 1.1, 1.2, and 1.3 of The Global Competitiveness Report 2004-2005, World Economic Forum, Palgrave Macmillan, 2004. (abbreviated GCR on the reading list)
[In the bookstore, this is a Xanadu Coursepack labeled C45.0100 Sections 3-8 and 10, NYU Spring 2005. It is shrink-wrapped with a cardboard insert.]
Japanese Phoenix: The Long Road to Economic Revival, by Richard Katz, M.E. Sharpe, 2003. (abbreviated Katz on the reading list)
Other readings for the course are available through Bobst Virtual Business Library or will be distributed in class or posted on the Blackboard site.
Deliverables and Evaluation
Group report on competitive analysis and company questions (due March 1)10%
Midterm exam (March 8, in-class)35%
Individual report on the country impact on the company (due March 31)10%
Company report
Group presentation in class (presentation slides due April 12;
presentations April 12-19)15%
Written group report (due April 28)15%
Class participation (with additional provisions for attendance at required sessions)15%
Group Report on Competitive Analysis and Company Questions
In a short report, (1) outline industry structure and main competitors, for the main industry of your company, (2) identify key competitive issues facing the company, and (3) list questions to ask presenters at the company visit. (Suggested length is 3-4 pages of text, typed in normal 12-point font, single-spaced, with an extra space between each paragraph.) This report is due by 3:30 PM on Tuesday, March 1.
Midterm Exam
The midterm exam will take place in class on Tuesday, March 8th. The exam will cover all material from the first half of the course, up to this exam. More information on the exam will be provided in class.
Individual Report on the Impact of the Home Country on the Company
What features of Japan’s historical, political-legal, social, economic, and cultural institutions help the company achieve competitive advantages? What features seem to lead to competitive disadvantages? Can management leverage the former, and overcome the latter? (Suggested length is 2-3 pages of text, typed in normal 12-point font, single-spaced, with an extra space between each paragraph.) This report is due by 5 PM on Thursday, March 31.
Company Report and Presentation
Outline your company's strategic situation, i.e., its strengths/advantages over competitors, and the major challenges and weaknesses it will have to overcome in the next few years. Develop a strategic plan for the next 3-5 years to maintain and/or improve the firm's performance.
I suggest that each group seek to identify a specific aspect of the company’s strategy that becomes the focus of the report. That is, each group should find and describe an issue, problem, challenge, or opportunity related to the company’s strategy and competitive situation, analyze it, and present recommendations about how the company can address it. Here are some examples of specific aspects: the firm's geographic scope, product scope, product development policies, marketing policies, operations policies, finance policies, organization structure, and/or human resource management policies.
Each group’s presentation slides are dueby 3:30 PM on Tuesday, April 12th. Each group will then use its slides to make a presentation to the entire class at some time during the three class sessions April 12, 14, and 19. Each group will have 13 minutes for their presentation, followed by 2 minutes for Q&A. The presentation will be evaluated by classmates, Mr. Farley, and Professor Pugel. The in-class presentation (including the quality of the presentation slides) counts for 15% of your grade.
The group written report, which will build on your (and other) presentation(s), is due by 5:00 PM on Thursday, April 28. (Suggested length is 5-6 pages of text, typed in normal 12-point font, single-spaced, with an extra space between each paragraph.) This report will count for 15% of your grade.
Class Participation
Attendance at regular class sessions during the first half of the course is highly recommended. Participation in class discussions (student questions, comments, and answers) will be evaluated on the basis of quality more than quantity.
Attendance at the following sessions is mandatory. No one will be permitted to miss these sessions without a medical excuse. (Arriving late for any of these sessions is also a negative.)
All required sessions during the time in Japan
The session on trip debriefing (Thursday, March 24)
All three of the class session in which groups make presentations
(April 12, 14, and 19)
The final course-wide group presentations (Friday, April 22)
The penalty for missing any of these sessions is severe. The instructor reserves the right to impose an automatic grade reduction, in lieu of lowering the points awarded for class participation.
The Class Trip
The trip to Japan is an important component of the learning process in this course. At the same time, there are valid reasons why a student would not go on the trip. If you have already obtained approval not to go on the trip, please inform Professor Pugel immediately. If you believe that you should not go on the trip, please discuss this with Professor Pugel, who will then arrange for you to present your request to the Dean’s office. You are only allowed to miss the trip after obtaining written permission from the Dean's office. For those missing the trip, you will be given a make-up assignment whose weight would be equal to that of the trip participation. You are also expected to do additional research work on your group project so that there is an equitable distribution of work on the project among the members of your group.
For those traveling to Japan, you are required to adhere to the Code of Conduct.
ISP Travel and the Stern Undergraduate Code of Conduct
While on the ISP trip, students will have a significant amount of time on their own to explore the history, cultural sites, and local customs of Japan. During this unsupervised time, students are expected to behave in a manner consistent with the Stern Undergraduate Code of Conduct. Behavioral violations include, but are not limited to, physical assault, harassment (including sexual and verbal), and property damage.
Accusations of behavioral violations will be investigated by faculty and administrative staff accompanying the students on the trip, and may result in students being immediately sent home to prevent further damage. In all cases, behavioral violations will be reported to the Office of Academic Affairs for further investigation and determination of sanctions by the Honor Committee.
Failure to attend and actively participate in the scheduled events while on the trip is also a violation of the Code. Such failure will result (at the least) in penalty in the class participation portion of the course grade. Frequent failure to attend and actively participate while on the trip could result in as much as a two-letter reduction in the course grade.
Blackboard Web Site
I will maintain a web site for the course using Blackboard. The web site will include announcements and downloadable files with nearly all class handouts.
General Responsibilities
I presume that we are all adults. There are several implications of this:
- As the teacher I have the responsibility to organize and present the material and to facilitate your learning.
- As a student you have responsibility for your own learning.
- No lying, cheating, or plagiarism of published work, work posted on the web, or work done by other students will be tolerated. Any suspected case will be referred to the School’s Office of Academic Affairs as an alleged violation of the Stern Undergraduate Code of Conduct.
- Actions that have negative effects on others will not be tolerated in the classroom. If you must arrive late or leave early, you must do so as quietly as possible.
Course Structure and Readings: Session Plan
Professor Pugel reserves the right to adjust the dates of the sessions, and to add to or remove from the required reading assignments.
Day / Date / Session / ReadingsTues / 1/18 / Introduction to the course / Katz, ch. 1.
Thur
Tues / 1/20
1/25 / A framework for country analysis / GCR, chs. 1.1, 1.2, and 1.3.
Thur / 1/27 / Japan’s macroeconomic performance / Katz, chs. 2 and 4.
Country Report: Japan, December 2004, Economist Intelligence Unit.
Tues / 2/1 / Fiscal policy; Monetary policy / Katz, chs. 6 and 7.
Thur
Tues / 2/3
2/8 / Banking and finance / Katz, chs. 5, 12, and 14.
Additional reading to be announced.
Thur / 2/10 / International trade and foreign direct investment / Katz, chs. 8, 9, 10, and 11.
Tues
Thur / 2/15
2/17 / Business in Japan / Katz, chs. 3, 15, 16, and 17.
Michael E. Porter and Mariko Sakakibara, “Competition in Japan,” Journal of Economic Perspectives, Vol. 18, No. 1, Winter 2004, pp. 27-50.
Tues
Thur / 2/22
2/24 / Structural reform: Financial, corporate, governmental, and political / Katz, chs. 13, 18, 19, 20, 22, and 23.
Tues / 3/1 / All group reports on competitive analysis and company questions due by 3:30 PM (beginning of the session)
Session topic be announced
Thur / 3/3 / Culture and etiquette in Japan; Update on structural reform
Tues / 3/8 / Exam
Thur / 3/10 / No class session
3/11-3/17 / Trip to Japan (separate schedule of sessions will be distributed)
Tues / 3/22 / No class session (start group meetings to prepare the report and presentation)
Thur / 3/24 / Trip debriefing in class (attendance mandatory)
Tues / 3/29 / No class session (groups continue to meet to prepare)
Thur / 3/31 / No class session (groups continue to meet to prepare)
All individual reports on the impact of the home country on the company due by 5:00 PM
Tues / 4/5 / No class session (groups continue to meet to prepare)
Thur / 4/7 / No class session (groups continue to meet to prepare)
Tues / 4/12 / All groups presentation slides due by 3:30 PM (beginning of the session)
Group presentations (attendance mandatory)
Thur / 4/14 / Group presentations (attendance mandatory)
Tues / 4/19 / Group presentations (attendance mandatory)
Thur / 4/21 / No class session
Fri / 4/22 / Course-wide group presentations (expect session to be all morning and a little into the afternoon) (attendance mandatory)
Thur / 4/28 / All group written reports due by 5:00 PM.
Tentative Schedule in Japan
Friday – 3/11Leave for Japan
Saturday – 3/12Arrive in Japan (Asakusa View Hotel)
Sunday – 3/13Touring Tokyo and free time
Monday – 3/14Macro and general business presentations (tentative: morning and early afternoon)
Tuesday – 3/15Company visit
Wednesday – 3/16Free time
Thursday – 3/17Leave Japan
Thursday – 3/17Arrive in New York (same day)