Gov­ern­ing Risk in the World Eco­nomy

Course content

The course focuses on understanding risk and the governance of risk in the world economy. It introduces students to the broader themes of risk, uncertainty, ambiguity and crisis, and to advanced theories and methods of relevance for analyzing, and planning for, specialized problems within them.

The course identifies the various global economic and political agents who create, assess and manage risk in the world economy. It covers the role of corporations, non-governmental organizations, international organizations, and states, as well as new types of hybrid actors. It also considers the arenas in which these actors engage and interact, as well as the tools at their disposal. 

The course is structured so as to bring different actors into focus. There are three segments. The first part of the course is organized around how concepts of risk are interlinked with our understanding of governance, and explores how different actors tackle time horizons, systemic shocks, and mega trends. The second part of the course zooms into specific thematic areas in greater detail. Starting with the broad themes of geopoltics and money, it proceeds to consider issue areas reflecting world affairs and recent scholarship, including climate, supply chains, cybersecurity, artificial intelligence, and migration among others. The third part of the course reviews the concepts and is organized around different types of feedback activity. 

Students are expected to develop their analytical reasoning, research and presentational skills. As part of an in-class workshop and the exam, students are to independently develop a research question and carry out the ensuing analysis using relevant theories, methods, and data.

In relation to Nordic Nine

Governing Risk in the World Economy provides students with concrete knowledge on humanity’s challenges and the role of business actors in addressing, mitigating, and avoiding nefarious effects on society (NN3). Dealing with risk, uncertainty and ambiguity, it offers students the tools to evaluate different ways of managing unknowns and dealing with crises (NN2). The course unpacks the values behind distinct managing mechanisms, highlights critical linkages between issue areas, and interrogates different notions of prosperity (NN7). The course imparts students with the means to engage critically with diverse approaches that privilege different types of stakeholders and to be rigorous with data in producing and presenting analysis (NN6). In the process, it relies on students coming together as peers to engage with each other’s work (NN8).