IPEC4301 - Political Economy of Industrialized Countries

IPEC 4301 Political Economy of Industrialized Countries (3 semester credit hours) How can German carmakers be among the best in the world if they are required to give two years notice before firing someone? Why did Swedish firms help to introduce a free universal health care system? Why it is rational for German companies to grant their workers veto rights over management decisions, but not for U.S. firms? Clearly, labor rights, market regulations, and industrial organization differ significantly across the United States, Germany, and Sweden. Yet, economics as a social science typically does not incorporate these differences. On the other hand, political economy analyzes how factors such as the electoral system, degree of business coordination, and governmental regulation shape business strategy. Understanding the effect of these differences is essential for managers designing investment strategies or policy makers developing policy recommendations. Using case studies, this course offers students opportunities to sharpen their analytical skills with real world applications and expand upon black-and-white theories from business and economics. (3-0) T