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Presentation of IBP
With globalisation, the relationship between business, governments, international institutions and other agents such as non-governmental organisations (NGOs) is becoming more and more important, and business and government decisions have great impact on the economy and society.
Companies and institutions constantly have to face the challenges of an increasingly internationalised world. Issues like the financial crisis, climate change, and new powerful economies are top priorities. The BSc IBP will prepare you for these changes by teaching you how businesses and governments cooperate and compete to create responses to such developments and challenges.
Courses and content
The BSc IBP will teach you how to analyse how political and economic factors interact and influence each other. We take economic theories out of an isolated context by providing a solid foundation in each of the following areas: Economics, business and management studies, and political science.
You need certain tools to understand the economic context a company is operating in. The BSc IBP will provide them to you and give you an understanding of the relationship between products supplied and products demanded, and concepts such as unemployment and inflation.
Business and management studies
You will work with core disciplines within business economics and strategy and learn to analyse a company and its activities. You will understand companies from both an economic and an organisational/managerial point of view and learn how companies analyse business opportunities. Finally, you are taught how companies develop and implement strategies in an international business setting.
What should companies consider when they want do business in without stable democracies? The BSc IBP will put different political systems and the political decision-making process into a business context, which will give you an understanding of how these political factors affect a company.
International and comparative political economy
Learning about the interaction between states and markets in different developing and developed countries is also a part of your timetable together with the way market conditions influence political relations between states and the roles transnational corporations, nation states and NGOs have in shaping the policies of different institutions such as the World Bank, the World Trade Organization, and the EU. Germany and the US, for instance, have very different traditions for regulating the financial sector. How does this affect the efforts to strengthen the international bank regulation after the financial crisis?
BSc in International Business and Politics is a three-year bachelor programme. The academic year runs from September through June. The structure of the programme is not as clear as some of the other programmes at CBS. Sometimes you will have semesters, meaning that you will follow 4 courses and end the semester with exams. Other semesters will be divided into 2 quarters, meaning that you will follow 2 subjects at a time for a period of 8 weeks. Each quarter ends with examinations. Some semesters are a mix of quarters and semesters.
The programme consists of a number of obligatory courses, some elective courses and ends with a bachelor project.
Options during the programme
The fifth semester consists of electives. You can use this semester to specialise in areas you have studied during the first two years, or you can choose new areas of study such as marketing, finance or accounting. You can choose between the following:
- Doing electives at CBS or another Danish university
- Going abroad on exchange at a partner university
- Doing an internship in a public or private organisation in Denmark or abroad
- Doing a term paper as a substitute for electives, which is a chance to explore your interests
You end the sixth semester with a bachelor project where you have the opportunity to specialise in one or more areas of the programme. At the same time you put your research skills to the final test.
Overview of courses
The course focuses on central concepts, theories, and debates in political science. It considers political institutions, processes, actors, and ideas in selected countries on a comparative basis as well as theories about the ways in which political systems work at the national and international levels. The course also introduces students to basic study skills and assignment-writing techniques. It consists of lectures, tutorials / workshops, and written home-assignments.
- Identify, analyze and evaluate core political ideas and ideologies
- Identify, analyze and evaluate key concepts, models and theories in political science
- Identify, analyze and evaluate key institutional features of modern political systems at national and international levels
- Relate concepts, models and theories to empirical evidence
- Construct and employ coherent arguments using frameworks, approaches and methods drawn from the social sciences
The aim of this course is to provide students with an introduction to macroeconomis. The course focuses on the behavior of the economy in the short-run, middle-run, and long-run, specifically looking at the goods market, the financial market and the labor market. The course is designed to help students understand how these markets operate, how they interact with each other, and how they are impacted by shocks and macroeconomic policies. The key mechanisms will first be explained in a context of closed economy and the analysis will then be extended to include trade and financial openness.
- Explain basic macroeconomic terminology (e.g. "growth", "recession", "natural unemployment", "trade balance deficit", etc.) in a comprehensive way.
- Describe and explain the assumptions and mechanisms of the main macroeconomic models (e.g. the Keynesian model, the IS-LM model, the IS-LM-PC model, the Solow growth model, etc.). Illustrate these models graphically and solve them algebraically.
- Describe how GDP is determined in the short run, the medium run and the long run. Explain how GDP is affected by shocks.
- Describe the main determinants of other important macroeconomic variables such as inflation, unemployment, real wage, interest rate, exchange rate, etc. Explain how these macroeconomic variables are affected by shocks.
- Perform policy experiments (e.g., changes in government spending or changes in money supply). Interpret the mechanisms verbally and graphically, and solve algebraically.
This course offers detailed introduction to international economics, and it includes two parts: international trade and international finance. In the first part, we study the classic trade theories, which explains why international trade took place, what are the benefits of international trade, and in what patterns countries trade with each other. We also study basic trade policy tools and their implications. In the second part, we study the balance of payments, the basics of exchange rates and how they are determined, how fiscal and monetary policies will be different when exchange rates come into play. We also study exchange rate regimes and the history of international monetary systems.
- Explain basic concepts in International Economics (e.g. "comparative advantage", “factor intensity”, “interest rate parity”, BoPs, PPP, UIP, etc.)
- Understand the basic assumptions and their justification behind the main trade models and their main predictions. These models include, but are not limited to, the Ricardian model, the Hechscher-Ohlin model ,- and the imperfect competition model
- Perform simple policy simulations of major trade policy tools (e.g. the impact of introducing tariffs), and illustrate them diagrammatically
- Understand what determines exchange rate in both short and long run
- Understand the dynamics of macroeconomic policies (both fiscal and monetary) when the exchange rate is in play, and perform simple policy simulations of these dynamics(like what happens when money supply changes)
- Understand different exchange rate regimes, and describe the evolution of the international monetary systems including the Economic and Monetary Union of the EU.
Comparative Political Economy
The course covers the main theoretical approaches in the field of comparative political economy, including the ‘varieties of capitalism’ approach as well as constructivist and critical political economy theories. To assess the strengths and weaknesses of these theoretical approaches they are discussed in relation to concrete advanced industrialised economies.
The course takes both a synchronic and a diachronic comparative perspective on national economic systems, and focuses for instance on how various external pressures upon such systems are mediated by domestic actors.
The course also covers the transformation of the welfare state and different ways of classifying and comparing welfare regimes. Finally various concrete policy areas and topics of relevance to state-business relations are dealt with in a comparative perspective.
- Understand the key theoretical approaches to different models of capitalism and welfare state regimes in advanced industrialised economies.
- Apply such theoretical approaches in synchronic and diachronic comparative analyses of different advanced industrialised economies, primarily through research from the student’s independent reading
- Explain the main trends and dynamics in the transformation of advanced industrial economies and welfare regimes
Electives / Exchange / Internship (30 ECTS)
On the fifth semester you can take electives, go on exchange or do an internship in a company.
This capstone project is the conclusion of the BSc in international Business and Politics. It is an independent project, written with a faculty advisor, and students can pursue their own interests within the broad area of international business and politics. Projects can pursue a purely theoretical question, or they can focus on an action- or policy-oriented problem, or they can pose problems that combine such elements.
Approximately 3 weeks before hand-in a bachelor student conference is held. It is intended to help you to critically reflect upon the content and set-up of your thesis, allow you to practice presenting the main ideas of your thesis to an audience talking about methodological, theoretical and analytical matters in a coherent way. You are expected to participate in the bachelor student conference
- Independently formulate and justify research questions.
- Select, combine and apply relevant concepts and theories in relation to specified research questions.
- Select and use relevant quantitative or qualitative methods to answer such research questions.
- Identify and use relevant scholarly literature.
- Formulate and present (orally and in writing) coherently argued answers, combining theory, methodology and data, to the research question posed.
- Reflect critically on the choice of methods and data as well as the quality of the answers produced.
This course provides an introduction to the functioning of economic markets: it describes what lies behind the notions of demand and supply. Emphasis is placed on the behavioral assumptions that generate demand for particular products, and on whether the producers of a particular product compete in a perfect or an imperfect way. We also explore important extensions to the basic model such as uncertainty. The main blocks of the curriculum are:
- Supply and Demand
- Consumer theory: preferences, rationality assumptions, budgetary constraints
- Extensions: Uncertainty
- Producer theory: production and costs functions
- Market structure: perfect competition, monopoly, monopolistic competition, etc.
Practical Application of Theory
In each main block the theory is exemplified with everyday problems and issues. We will consider economic models evaluating policies such as minimum wages and commodity taxation.
Relation to a Business or an Institutional Setting
We consider in depth how different market structures affect firms and consumers. We also emphasize how governments design institutions to correct market imperfections.
Relation to International Business or Economics
Several examples from the international business area are considered. Examples will be drawn particularly from U.S., Canada and Europe.
Research Based Teaching
Issues which are currently under debate in economic research are presented when relevant. In particular, we will discuss the limits of neoclassical models and how the research frontier confronts those limits.
- Explain basic economic terminology (as e.g. opportunity costs, risk aversion, etc.) in a comprehensive and intuitive way.
- Describe and rationalize the main assumptions behind simple economic models and analyze the role that those assumptions play in the models.
- Use economic models graphically (diagrammatically) to analyze the effects of policy experiments (e.g. introducing taxes).
- Derive numerically economic instruments and apply them in analytical settings (e.g. find a price elasticity and use the elasticity to predict a change in demand).
- Solve algebraically simple microeconomic problems (e.g. utility maximization, profit maximization, and determination of the equilibrium economic variables), and reflect on the solutions with a critical mind.
- Use economic intuition to explain topical policy issues (e.g. why are housing taxes popular among economists?).
EU Business and Politics
This course focusses on the EU institutional environment and discusses the governance of the internal market with a particular focus on business related policies. The course will consider, amongst other things, a range of contemporary issues such as the economic crisis and the possibility of disintegration. The course aims to provide the students with a deep understanding of 1) the EU institutions and how they interact with business and social actors to produce legislation; 2) how the internal market is regulated and in particular the role played by competition policy; 3) classical and contemporary theories of political and economic integration; 4) the EU policy areas that are of the greatest relevance for business.
- analyze core EU institutional structures and assess the ways in which business and societal interests interact with them
- evaluate changes in EU policies and institutions and their implications for the business environment.
- explain basic theories of EU integration.
- show analytical proficiency in handling research questions and in supporting theory-driven arguments with relevant empirical evidence.
International Political Economy
The course introduces students to the international political economy in trade, finance, and production and the key international institutions and actors in these areas. It also introduces central issues in contemporary debates about globalization from an IPE perspective. In relation to these, the course emphasises the study of key analytical theories of, and approaches to international political economy, such as realism, liberal institutionalism, critical studies, and constructivism.
Demonstrating a strong capacity to;
- outline and explain key theories and theoretical traditions in international political economy
- reflexively interrogate and deploy analytically key theories and theoretical traditions in international political economy.
- identify and explain the role of central institutions and actors in the international political economy
- understand and explain how the actions and operations of actors and institutions impact on order and change in the international political economy.
- integrate this empirical and theoretical knowledge to respond persuasively to research questions about International Political Economy.
International Business Strategy
This course on International Business Strategy is intended to provide an overview of the theories and principles of international business strategy. International business strategy has considerable impact on modern enterprises operating in an increasingly global economy. The aim of the course is to provide students with an extended coverage of alternative theories and perspectives on international business, a thorough understanding of the key strategic issues confronting managers of multinational corporations, both within the firm and in the global marketplace. It is designed to familiarize students with the institutional environments that affect international businesses, showing how managers develop different strategies to succeed in this highly competitive environment. Major topics include modern theories of the internationalization processes; formulation of international strategies, from how to leverage resources and capabilities across national borders to how organizing and structuring multinationals; innovation and learning in multinationals.
- Identify and apply key theories, models and concepts of strategic management and economics to the greater understanding of international business strategy
- Explain and give examples of alternative strategies, structures and operations of multinational corporations, appropriate in different international contexts, changing markets and political conditions
- Analyze business case studies applying relevant concepts and theories of international business strategy
- Identify and theoretically justify how different theories and concepts from the curriculum are interrelated
Political Economy of Development
The course introduces students to theories and issues in the political economy of development. The course will interrogate the interplay between states and markets in driving economic (under)development, the politics of economic development, and the roles of various domestic and international actors, institutions, and structures in this process. The causes and consequences of poverty, inequality, and development will be approached from a comparative perspective using data and case illustrations from, e.g., Africa, Asia, and Latin America. In doing so, the course will address a number of salient issues in contemporary debates on economic and political development, such as the roles of international trade, foreign aid, corruption, and democratization in the developing world.
- Identify, analyze and evaluate core concepts, theories, and issues in the political economy of development
- Use the concepts and theories of the political economy of development to identify, analyse, and evaluate key issues of economic and political development in developing countries and emerging economies.
- Identify, analyze and evaluate economic, political, institutional, and structural causes and consequences of development in a comparative perspective.
- Analyse empirical data and evidence concerning economic and political development using the concepts and theories introduced in the course.
- Make a clear, coherent, and well-reasoned analysis of issues in political and economic development based upon methods in the social sciences and a comprehensive understanding of the theories and approaches introduced in the course.
Political and Economic Thought
The course presents and discusses central thinkers in the history of Western social sciences, political theory, economics, and ideology. It covers normative and analytical or theoretical ideas from antiquity to the contemporary world, such as the origins and functioning of the state, individual freedom, the purpose of society, the ideal government, liberal democracy and other systems of governance, and macroeconomic problems such as the origins of wealth and growth, problems of production and distribution, economic crises, unemployment and inflation.
Focus is on the origins of contemporary political and economic ideas and on the trajectories of the specialized modern social sciences with a special emphasis on the evolution of, and the disciplinary divisions between, sociology, economics and political science.
- demonstrate knowledge about central political and economic thinkers of the Western world from antiquity to today,
- describe, compare, and discuss central ideas from the history of Western political theory, economics, and ideology
- relate historical and theoretical arguments to present day political and economic issues,
- take a critical view of the application of political and economic concepts and theories in current public discourse.
Statistics is both a science in itself and a technology with applications in almost every other branch of science. The course emphasizes conceptual understanding rather than just instrumental usage of statistical procedures. The focus is on the interpretation and understanding of basic statistical methods as applied in social sciences, business economy and political economy.
The curriculum includes:
· Descriptive statistics, both numerical and graphical.
· The basic laws of probability, and the most important probability distributions.
· Statistical inference; confidence intervals and significance tests about hypotheses.
· Basic tests for means, proportions, and contingency tables.
· Simple regression analysis and basic multiple regression.
The goal of the statistics course is to raise methodological awareness and prepare students to compare statistical approaches with different approaches later on. Students should develop statistical literacy and the ability to think and reason statistically. The student should become able to:
- Use graphical and numerical methods for exploring and summarizing data on a single categorical or quantitative variable.
- Describe basic probability and how probability helps us understand randomness, and explain the concept of a sampling distribution and how it relates to inference methods.
- Choose and justify appropriate descriptive and inferential methods for examining and analyzing data and drawing conclusions.
- Analyze of the association between variables, categorical, continuous and both, using contingency tables, correlation, and basic regression analysis.
- Communicate the conclusions of statistical analysis clearly and effectively, i.e interpret the numerical results in terms of the original research topic.
This course considers the building blocks of organizational theory and analysis as an academic discipline. As the title suggests, this course is designed to introduce students to fundamental questions and approaches to the study of organizations. The purpose of the course is to provide students with a thorough grounding in the ‘classic’ social science literature on organizations and to enable them to apply the central concepts in the analysis of empirical evidence and cases
- Identify, analyze and evaluate core models of organizations
- Compare, contrast and discuss key concepts, models and theories in organization theory.
- Relate and apply concepts, models and theories to empirical evidence and cases
- Construct and employ comprehensive and succinct forms of organizational analysis in a well-reasoned manner using concepts from organizational theory and based upon an understanding of competing perspectives.
This course provides a broad overview of corporate finance covering the main tools that financial managers use to analyze investment and financing decisions. The first set of lectures will be devoted to introducing students to the goals pursued by corporations and to the financial side of their operations. Subsequently, we will be reviewing some of the accounting concepts that represent an essential background in this field, and we will introduce the concept of “time value of money”, which will be a key building block in developing our theory of asset pricing. The same paradigm will also be applied to the valuation of the streams of cash flows that firms generate through their investment projects, which will ultimately lead us to the formulation of a method for making investment decisions. Later in the course we will pay more attention to the role of risk in such matters, and we will also focus on how companies can raise the cash they need for their investment projects, with a discussion of the issues that alternative financing tools pose.
- Identify, explain, discuss and apply the core concepts, models and methods
- Calculate, interpret and compare financial statistics, prices, returns and costs
- Elaborate, present and discuss solutions for financial decision problems
Business and Global Governance
The course gives students factual knowledge of selected cases of business strategies and institutional forms, governance principles and regulatory content of major sources of international business regulation. It also covers important normative and explanatory theories and approaches to business and global governance as defined here. The approaches are discussed and compared based on their inherent theoretical strengths and weaknesses, and the course also stresses evaluation of their applicability in business practices and in empirical analysis.
The course includes classical empirical cases and theories, but it also emphasizes contemporary relevance of both cases and theories. Therefore the specific content and structure varies from year to year and is presented in the course plan on Learn.
The course gives a multifaceted understanding of the role of business in global governance, seen from both a business and a societal perspective.
The first week focuses on selected theoretical approaches to business in global governance, emphasizing perspectives on business lobbying and business strategies towards the political environment, as well as discussions of public versus private interests and the notion of regulatory capture.
Each of the following four weeks then focuses on a particular policy area: trade and investment, finance, innovation and technical standards, and sustainability. In each policy area we discuss analyses, drawn from the existing scholarly literature, of policy evolution and business involvement as political actor and/or target for regulations. In the discussions we draw on the theoretical perspectives presented in the first week, but we also consider the theoretical contributions found in the case studies.
Further details are posted on Learn.
After completing the course students should be able to show empirical knowledge and analytical skills in the area of business and global governance, defined as i) non-market business strategies towards international and global institutions and governance arrangements, ii) how the international and global political, societal and institutional framework for business is shaped by businesses, NGOs, governments and international institutions, and iii), how global governance arrangements impact businesses. Specifically, students should be able to:
- Describe theoretical approaches to the study of business in global governance as presented in readings and lectures.
- Formulate and answer research questions in business of global governance, using relevant theory from the course and following academic standards appropriate to a third year bachelor course
- Apply these approaches to regulatory frameworks, institutions, and arrangements in the global political economy
- Compare, evaluate and discuss approaches based on the syllabus and lectures.
- Accounting as a form of communication
- Financial statements and Annual Reports
- Double-entry bookkeeping
- Cash basis and accrual basis of accounting
- Inventories and Cost of Goods Sold
- Cash, receivables and short term investments
- Fixed Assets (Tangible & Intangible)
- Current Liabilities, Present Value, and Long-term liabilities
- Shareholders’ Equity
- Cash Flow Statements
- Financial Statement Analysis
- A Case Study in Financial Accounting
Students learn to develop their understanding of financial accounting via reference to practical examples, mini-cases and the annual reports of various companies.
Relation to a Business or an Institutional Setting: Class discussions are focused around multinational companies in different industries – both European and US. The course textbook has many good examples from US business life, which will be contrasted against their European peers.
Relation to International Business or Economics: The core theme of the course is the financial accounting within multinational corporations. The relationships between parent company and subsidiaries are emphasized in group accounting and through the consolidation process.
- Read, understand and examine the data in an annual report.
- Fully comprehend the accounting equation and double entry-accounting
- Understand the difference between cash and accrual accounting.
- Prepare financial statements from the source data based on accounting transactions.
- Develop financial ratios for a company and analyze the information content of these measures to make sound business decisions.
- Understand the critical role of ethics in providing decision useful accounting information.
The objective of this course is to provide students with an understanding of how to conduct, analyze and report qualitative research in the social sciences. The primary focus of the course is to introduce qualitative case study designs with a focus on how to produce, analyze and write up qualitative research using different methods, such as text analysis, interview methods and observation techniques. The course further discusses how to assess data reliability and validity, including how to triangulate data from different sources and combine different methods, as well as ethical questions concerning qualitative research.
- Assess the strengths and limitations of different qualitative methods when applied to a given research problem
- Apply qualitative methods to a research problem and account for the relationships between theory, method, data collection and analysis
- Demonstrate applied skills and apply methodologically informed analyses to a research question in the field of international business and politicsand account for the relationships between a research problem, theory, method, data collection and analysis
- Critically reflect on how to analyze and report qualitative data and assess their validity and reliability
Philosophy of Social Science and Second Year Project
The overall purpose is to develop students’ skills in making sound, informed, and reasoned methodological and theoretical choices in their own analytical work. The course covers i) key positions in the philosophy of social science, ii) the implications of such positions for research design iii) the writing of a project report.
The course introduces established philosophy of social science positions, such as positivism, constructivism and critical realism. It brings into focus the implications of philosophy of science for the research design, including the choice of theory, methods and data.
In extension of the lectures, students write a project report under the guidance of a faculty supervisor. Students choose their own project theme and develop their own research question. The project must i) apply theories in an empirically grounded analysis, ii) it must use either qualitative or quantitative methods to analyse data and iii) it must relate theoretical and methodological choices to philosophy of science.
The overall purpose is to develop students’ skills in making informed and reasoned methodological and theoretical choices in their own analytical work. At the end of the course students are expected to be able to:
- Describe, compare, and discuss the basic positions in the philosophy of science.
- Formulate a research question.
- Make and critically assess theoretical and methodological choices.
- Retrieve relevant information and data.
- Produce and present coherently argued answers, combining theory, methodology, and data, to the research question posed.
- Explain how their own work is situated in relation to the basic positions in the philosophy of social science