НИУ ВШЭ – Санкт-Петербург
Рабочая программа дисциплиныНИС «Международная экономика» для направления
38.03.01 Экономика подготовки бакалавра
1
Область применения и нормативные ссылки
Настоящая рабочая программа дисциплины устанавливает минимальные требования к
знаниям и умениям студента, а также определяет содержание и виды учебных занятий и
отчетности.
Программа предназначена для преподавателей, ведущих данную дисциплину,
учебных ассистентов и студентов направления подготовки38.03.01. Экономика,
обучающихся по образовательной программе «Экономика», изучающих дисциплину
«Пространственная эконометрика».
Программа разработана в соответствии с:
 Образовательным стандартом НИУ ВШЭпо направлению подготовки 38.03.01.
Экономика
(http://spb.hse.ru/data/2015/09/30/1321438094/38.03.01%20%D0%AD%D0%BA%D0
%BE%D0%BD%D0%BE%D0%BC%D0%B8%D0%BA%D0%B0.pdf);
 Образовательной программой «Экономика» по направлению подготовки 38.03.01.
Экономика.
 Рабочим учебным планом НИУ ВШЭ – Санкт-Петербург по направлению
подготовки38.03.01. Экономика, утвержденным в 2015 году.
2. COURSE DESCRIPTION
Foreign direct investment is a research seminar for 3rd year bachelor students that focuseson
the latest research and insights on the role of multinational enterprises in globalizing world economy.
The aim of this course is to provide students with an overview of modern scholarly literature
on foreign direct investment. We will begin with a review of the history and current state of FDI in
the world economy. Students will be tasked with exploring and comparative analysis of trends in
foreign direct investments in different regions. We will then explore basic theories of foreign direct
investments and multinational enterprises, including both classic works and its recent advancements. Participants will be asked to explain general trends in FDI across regions and nationalities
(states) by applying theoretical tools. We will continue with exploring main features of FDI in developing economies and economies in transition. Students will prepare and present a review of articles, studying FDI in a certain country.
Methodical novelty of the course is that the course develops critical thinking, public speaking,
presentation skills and improves research-based argumentation skills by engaging students into inclass presentations of both classic and modern literature on the topic. The course structure allows to
provide students with a wide overview of the field of FDI that together with course method of instruction mainly based on discussion encourage student to gain the following competences and
knowledge: (1) a “tool bag” of techniques to analyze FDI strategies and effects (including the Eclectic Paradigm, Internalization Theory, principles ofGlobal strategic analysis, the Five competitive
forces, basics of the Internationalization process model and basic principles of FDI strategies in
Emerging Markets); (2) research-based competences and skills for further analysis of FDI.
By the end of the course students should:
 Know the role and main trends in FDI in the modern world economy;
 Understand terms that a specific to academic research articles in the field of FDI;
2
НИУ ВШЭ – Санкт-Петербург
Рабочая программа дисциплиныНИС «Международная экономика» для направления
38.03.01 Экономика подготовки бакалавра
 Be able to apply classic and modern theories of FDI and MNEs to academic research;
 Be able to pose questions and use methods of formal inquiry to answer questions and
solve problems;
 Be able to analyze the role and effects of FDI in a country-specific context;
 Be able to conduct and present a review of research articles devoted to a specific
themes.
II. COURSE OUTLINE
FDI research seminar is as a part of the track of “International Economics” (in Russian:
ПУЛМироваяэкономика) for 3rd year bachelor students in Economics. It provides students with an
important part of the research sphere of International economics – the phenomenon of Foreign direct investment and multinational enterprises. This topic is partially covered at the very aggregated
level in the introductory course of “International economics” and has some references in the course
of “International trade” from theoretical point of view on international capital and labor flows. This
course provides student with significantly wider view on the topic of FDI on the basis of classic and
recent studies.
Topic
№
Total hours
Class hours
lectures seminars
2
2
2
Selfstudy
12
2
2
4
Course
1
overview
Going
2
Global or no?
History
3
and Statistics
MNE Theories #1: The Eclectic Paradigm
4
and Internalization Theory
MNE Theories #2: Global Strategic
Management
5
Going Global: The Internationalization
Process
6
2
4
4
Reasons for FDI
7
MNEs
8
in Emerging Economies
FDI
9 Spillovers
Country-specific Effects of FDI: Student
Presentations
1
Total
4
4
8
6
4
2
4
2
8
34
36
72
6
6
8
48
108
4
4
4
4
4
4
IV. TYPES OF ACTIVITIES
We will make extensive use of the eLearning course webportal LMS. The portal will be the
primary method by which I contact students outside of class, and I request you do the same for
reaching me. For example, all required readings will be available from the portal; students will use
3
НИУ ВШЭ – Санкт-Петербург
Рабочая программа дисциплиныНИС «Международная экономика» для направления
38.03.01 Экономика подготовки бакалавра
the portal for posting their assignments; and an FAQ page will be used for answering student questions related to the course.
1. Class discussion
The course will follow mainly constructive/quality class discussion format. Every student is
responsible for being an active and consistent participant in discussions. While you not be formally
graded on your participation during discussions, the value to you and your colleagues of asking
questions and raising new ideas cannot be over-stated.
How to evaluate the presentation: critique it. Ask yourself the following questions about each
report:
 LIKE: What are your general impressions about the presentation? What did you like/dislike
about the paper and why?
 FIT: What is the main contribution of the paper to the course? How does the paper fit into
the literature we have read already?
 FIX: Would you add something to the paper or somehow extend it?
 TAKEAWAY: What did you “takeaway” from the paper (that is, what will stick with
you?)
How to Handle the Readings
 Each seminar session typically provides 2-3 papers or 50-70 pages of reading.
 Please, read the articles in the order, provided by this syllabus.
 If necessary, do the readings several times. Underline points which are not clear for in-class
discussion. Highlight most important points, which could be a tool for further analysis.
 It might be helpful to write one-page summaries of each article.
2. Class presentation
Each student (or pair of students) is required to choose two articles on different topics from
the syllabus below to present to the class. Hand out and a cliff note of the article’s main points are
more than welcome. All articles are assigned on a first come, first served basis. Each class will consist of two or three presentations devoted to a certain topic.
Presentation should follow (but not necessarily) the following structure:
 Objective: what is the main idea of the paper? What literature this paper contribute to?
What problem is addressed?
 Proposal: if this paper presents a new idea/hypothesis/view, what, in a nutshell, is it?
 Contributions/claims: how do the authors uncover the main point? what contributions does
the paper claim to make? Which one is the most significant?
 Discussion points: End with questions which you think should arise
3. Cross-reviewing
Each student (or pair of students) will be assigned to comment on two presentations and prepare some opening questions to start off the discussion. Papers for presentations and papers for
comments and questions will be assigned at the start of the course in September.
4. Assignment
4
НИУ ВШЭ – Санкт-Петербург
Рабочая программа дисциплиныНИС «Международная экономика» для направления
38.03.01 Экономика подготовки бакалавра
The purpose behind the assignment is to familiarize students with the available up-to-date
country-level research on MNEs and FDI and give students some practice working with that data
and applying of theoretical models to data.
Students will work in assigned groups of two or three for this project. Each team will choose
an emerging, developing or transition economy and prepare a short presenation on MNEs and FDI
effects in that country, based on review of related scholarly articles. Students will present their papers to the class the beginning of February. For the structure of the presentation please refer to the
structure of in-class presentation.
The requirements for papers:
 The papers for the assignment should be chosen by students on ther’s own (please consult
with the teacher if necessary).
 Sources:
 http://www.jstor.org/
 http://scholar.google.com/
 http://ideas.repec.org/
 http://www.nber.org/
 Papers should be published not later than 2011
 Papers could be of both type: journal published article or working/discussion paper.
IV. ASSESSMENT
This is a pass/fail course. The passing grade requires attaining at least 50% of credits for
course assignments. The grade is formed only by in-class presentations, assignment and overall
class participation.
Formoftesting
Details
Presentation
Weight
30-minutes in-class presentation. Presentation should cover 40%
main parts of the assigned paper. Cliff notes or hand outs are (2*20%)
valuable, but not necessary.
Assignment
The final assignment for this seminar is a 30-minutes in-class 50%
presentation with applied methods and tools, learnd due to
the course. Cliff notes or hand outs are necessary.
Overall class par10%
ticipation
V. SAMPLE TASKS
Not provided
VI. LIST OF CLASESS AND READINGS
Topic #1.Course overview.
5
НИУ ВШЭ – Санкт-Петербург
Рабочая программа дисциплиныНИС «Международная экономика» для направления
38.03.01 Экономика подготовки бакалавра
Hans Rosling. “The best stats you've ever seen”
http://www.ted.com/talks/hans_rosling_shows_the_best_stats_you_ve_ever_seen
Topic #2. Going Global or no?
Levitt, Theodore. 1983. The globalization of markets. Harvard Business Review, May-June: 92102.
Abdelal, R., &Tedlow, R. S. (2003). Theodore Levitt's' The Globalization of Markets': An Evaluation after Two Decades.
Ghemewat, Pankaj. 2001. Distance still matters: The hard reality of global expansion. Harvard
Business Review, September, 137-147.
Alexander, Marcus and Harry Korine. 2008. When You Shouldn’t Go Global. Harvard Business
Review December: 70-77.
Dunning, J. H. (2013).The role of foreign direct investment in a globalising economy.PSL Quarterly
Review, 48(193).
Topic #3 History and Statistics
UNCTAD. 2014. World Investment Report 20104. Geneva: UNCTAD.
• Chapter 1: Global Trends in FDI. http://unctad.org/en/PublicationChapters/wir2014ch1_en.pdf
• Chapter 2: Regional Trends in FDI.
http://unctad.org/en/PublicationChapters/wir2014ch2_en.pdf
Rugman, Alan and Alain Verbeke. 2009. Location, Competitiveness, and the Multinational Enterprise. In Alan Rugman (editor), Oxford Handbook in International Business, Second Edition. Oxford, UK: Oxford University Press. Chapter 6, pp. 146-180.
Topic #4. MNE Theories #1: The Eclectic Paradigm and Internalization Theory
Buckley, Peter J. and Mark C. Casson. 2009. The internalization theory of the multinational enterprise: A review of the progress of a research agenda after 30 years. Journal of International Business Studies, 40: 1563-1580.
Dunning, John. 1988. The Eclectic Paradigm of International Production – A Restatement and
Some Possible Extensions. Journal of International Business Studies, 19.1: 1-31. JIBS Decade
Award & Top 20 List.
Rugman, A. M. 2010. Reconciling internalization theory and the eclectic paradigm. Multinational
Business Review, 18(2), 1-12.
Eden, L., & Dai, L.2010. Rethinking the O in Dunning’s OLI/eclectic paradigm. Multinational
Business Review, 18(2), 13-34.
Cai, H., &Guney, Y. 2014. Firm's FDI decision in China: dynamic approaches testing eclectic paradigm.
Mandal, P. K. 2014. Employer Brand: A New Component of Ownership Specific Advantage of Eclectic Paradigm. International Journal of Innovative Research and Development.
6
НИУ ВШЭ – Санкт-Петербург
Рабочая программа дисциплиныНИС «Международная экономика» для направления
38.03.01 Экономика подготовки бакалавра
Topic #5. MNE Theories #2: Global Strategic Management
Lessard, Donald R. 2003. Frameworks for Global Strategic Analysis. Journal of Strategic Management Education, 1(1): 1-12.
Porter, Michael E. 2008. The Five Competitive Forces that Shape Strategy. Harvard Business Review, January: 79-93.
Tallman, Stephen B. and George S. Yip. 2009. Strategy and the Multinational Enterprise. In Alan
Rugman (editor), Oxford Handbook in International Business, Second Edition. Oxford, UK: Oxford
University Press. Chapter 12, pp. 307-340.
Goerzen, A., Asmussen, C. G., & Nielsen, B. B. (2013).Global cities and multinational enterprise
location strategy. Journal of International Business Studies, 44(5), 427-450.
Topic #6. Going Global: The Internationalization Process
Cuervo-Cazurra, Alvaro, Mary M. Maloney and ShaliniManrakhan. 2007. Causes of the difficulties
in internationalization. Journal of International Business Studies 38: 709-725.
Johanson, Jan and Jan-Erik Vahlne. 2009. The Uppsala internationalization process model revisited:
From liability of foreignness to liability of outsidership. Journal of International Business Studies
40: 1411-1431. JIBS 40th Anniversary Issue.
Casillas, J. C., &Acedo, F. J. 2013. Speed in the internationalization process of the firm. International Journal of Management Reviews, 15(1), 15-29.
Welch, C., &Paavilainen‐Mäntymäki, E. 2014. Putting process (back) In: Research on the internationalization process of the firm. International Journal of Management Reviews, 16(1), 2-23.
Topic #7. Reasons for FDI
Dunning, J. H. 1994.Re-evaluating the benefits of foreign direct investment. UNCTAD, Geneva.
Gonchar K., & Marek, P. (2013).Natural-Resource or Market-Seeking FDI in Russia?An Empirical
Study of Locational Factors Affecting the Regional Distribution of FDI Entries.An Empirical Study
of Locational Factors Affecting the Regional Distribution of FDI Entries (March 18, 2013). Higher
School of Economics Research Paper No. WP BPR, 26.
Topic #8. MNEs in Emerging Economies
Khanna, Tarun, Krishna G. Palepu and Jayant Sinha. 2005. Strategies that Fit Emerging Markets.
Harvard Business Review, June: 63-76.
Khanna, Tarun and Krishna G. Palepu. 2006. Emerging Giants: Building World-Class Companies
in Developing Countries. Harvard Business Review, October: 60-69.
Kumar, Nirmalya. 2009. How Emerging Giants Are Rewriting the Rules of M&A. Harvard Business Review, May: 115-121.
Meyer, K. E., &Thaijongrak, O. 2013. The dynamics of emerging economy MNEs: How the internationalization process model can guide future research. Asia Pacific Journal of Management,
30(4), 1125-1153.
7
НИУ ВШЭ – Санкт-Петербург
Рабочая программа дисциплиныНИС «Международная экономика» для направления
38.03.01 Экономика подготовки бакалавра
Topic #9. FDI Spillovers
Meyer, Klaus and EvisSinani. 2009. When and where does foreign direct investment generate positive spillovers? A meta-analysis. Journal of International Business Studies, 40: 1075-1094.
García, F., Jin, B., & Salomon, R. 2013. Does inward foreign direct investment improve the innovative performance of local firms?. Research Policy, 42(1), 231-244.
Jeon, Y., Park, B. I., &Ghauri, P. N. 2013. Foreign direct investment spillover effects in China: Are
they different across industries with different technological levels?. China Economic Review, 26,
105-117.
Wooster, R. B., &Diebel, D. S. 2010. Productivity Spillovers from Foreign Direct Investment in
Developing Countries: A Meta‐Regression Analysis. Review of Development Economics, 14(3),
640-655.
Crespo, N., & Fontoura, M. P.2007. Determinant factors of FDI spillovers–what do we really
know?.World development, 35(3), 410-425.
Topic #10. Country-specific Effects of FDI: Student Presentations
It is strongly recommended to choose a paper with empirical evidence from emerging and transition
economics of Europe (Balkans, Central Europe, Baltic Countries) and CIS.
Sample List of Countries: Brazil, Russia, India, China, South Africa, Czech Rep., Hungary, Romania, Poland, Slovenia, Latvia, Lithuania, Albania, Bulgaria, Estonia, Kazakhstan, Ukraine, Belarus, Uzbekistan.
8
НИУ ВШЭ – Санкт-Петербург
Рабочая программа дисциплиныНИС «Международная экономика» для направления
38.03.01 Экономика подготовки бакалавра
АННОТАЦИЯ
1. The aim of this course is to provide students with an overview of modern scholarly literature on foreign direct investment. We will begin with a review of the history and current state of
FDI in the world economy. Students will be tasked with exploring and comparative analysis of
trends in foreign direct investments in different regions. We will then explore basic theories of foreign direct investments and multinational enterprises, including both classic works and its recent
advancements. Participants will be asked to explain general trends in FDI across regions and nationalities (states) by applying theoretical tools. We will continue with exploring main features of
FDI in developing economies and economies in transition. Students will prepare and present a review of articles, studying FDI in a certain country.
Methodical novelty of the course is that the course develops critical thinking, public speaking,
presentation skills and improves research-based argumentation skills by engaging students into inclass presentations of both classic and modern literature on the topic. The course structure allows to
provide students with a wide overview of the field of FDI that together with course method of instruction mainly based on discussion encourage student to gain the following competences and
knowledge: (1) a “tool bag” of techniques to analyze FDI strategies and effects (including the Eclectic Paradigm, Internalization Theory, principles of Global strategic analysis, the Five competitive
forces, basics of the Internationalization process model and basic principles of FDI strategies in
Emerging Markets); (2) research-based competences and skills for further analysis of FDI.
2. Syllabus
№
Total
hours
Topic
1
2
3
Course overview
Going Global or no?
History and Statistics
MNE Theories #1: The Eclectic
Paradigm
4
and Internalization Theory
MNE Theories #2: Global Strategic
5 Management
Going Global: The Internationalization
6
Process
7
8
9
2
4
4
Class hours
l
s
ectures eminars
2
2
2
4
4
8
4
4
8
6
4
2
2
48
4
4
6
MNEs in Emerging Economies
FDI Spillovers
Country-specific Effects of FDI:
Student
1
Presentations
0
2
2
4
4
6
Reasons for FDI
S
elfstudy
0
4
4
2
3
4
4
Total
108
8
6
0
3. Prerequisite
Basic knowledge of International Economics are required. Knowledge of Strategic Management, International Management will be advantageous but not required.
9
НИУ ВШЭ – Санкт-Петербург
Рабочая программа дисциплиныНИС «Международная экономика» для направления
38.03.01 Экономика подготовки бакалавра
4. Author – Anna A. Fedyunina, Senior Lecturer, Department of Economics,
M.A.
5. Examination type
This is a pass/fail course. The passing grade requires attaining at least 50% of credits for
course assignments. The grade is formed only by in-class presentations, assignment and overall
class participation.
Form of
testing
Details
Presenta-
W
eight
30-minutes in-class presentation. Presentation should
4
tion
cover main parts of the assigned paper. Cliff notes or hand 0%
outs are valuable, but not necessary.
(2*20%)
AssignThe final assignment for this seminar is a 30-minutes
5
ment
in-class presentation with applied methods and tools, learnd 0%
due to the course. Cliff notes or hand outs are necessary.
Overall
1
class participa0%
tion
10