INTERNATIONAL BUSINESS INSTITUTE
BULLETIN – 2013
The International Business Institute is a cooperative overseas program in international economics and business
management. Affiliated schools include Anderson University, Biola University, Cedarville University, Cornerstone University,
Eastern Mennonite University, George Fox University, Grace College, Houghton College, Malone University, Messiah
College, Mid-America Nazarene University, Milligan College, Mount Vernon Nazarene University, Olivet Nazarene
University, Roberts Wesleyan College, Westmont College and Whitworth University. Students from other institutions are
welcome but priority is given to the institutions that are affiliated with IBI. Students in the past have enrolled from the
following institutions: Calvin College, Cambridge University (UK), Dordt College, Duke University, Georgetown University,
Harvard University, Pepperdine University, UCLA, University of Chicago, St. Olaf College, SMU, University of South
Carolina, Taylor University, University of Tennessee, University of Virginia, Vanderbilt University, Wake Forest University,
Wheaton College, and The College of William and Mary.
The International Business Institute is designed to give students in economics, business management and related areas a
distinctive opportunity for a term of study that incorporates the international dimension of these fields in an experiential
context overseas. The program is ten weeks in length and includes periods of residence in key locations as well as
coordinated visits and presentations in the major political and economic centers of Russia, The European Union, India and
China.
An essential purpose of this program is to encourage and facilitate the integration of academic study with the international
field experience. The academic work is conducted in a variety of settings from the usual classroom to corporate
headquarters, manufacturing plants, and the offices of governmental or international agencies.
DISTINCTIVE FEATURES:
There are several features that make this program particularly distinctive. First, there is a significant degree of involvement
by a distinguished group of faculty and lecturers drawn from leadership posts in private business and finance, government
and academic life. In the past, these have included parliamentary leaders, cabinet officials, top management personnel, and
outstanding academic figures.
Second, the program concentrates on visits and contacts with leading companies and institutions in the fields of economics,
business and finance, as well as national and international governmental agencies. These have included Mars Candy,
Barclays Capital, KPMG, Coca-Cola, Ahold, John Deere, Deutsche Bank, WTO, European Union, Nestle, Stanley Black and
Decker, Shell International, and the OECD.
Third, the academic or classroom work includes the standard level of coverage in an on campus course but is coordinated
with the enriching and complementary field seminar experiences and visits along with the guest speakers. This combination
provides the student with the intellectual and analytical background and then confirms that with the field experience and
personal contacts with guest faculty and resource persons.
PREREQUISITES:
The International Business Institute is a rigorous academic program. All participants are expected to have completed a full
year of principles of economics, a semester of accounting or finance, and one course in management and marketing. These
are the foundational courses which the student will find helpful in fulfilling the academic expectations of the program. Some
exceptions may be made in consultation with the student’s advisor and the Managing Director of IBI. A minimum GPA of
2.75 (on a 4.0 scale) is required at the time of participation which is usually following the completion of the junior year. A
positive recommendation from a faculty member and the appropriate student affairs office is required along with the official
transcript and notation of the student’s GPA. PLEASE NOTE: All IBI courses must be taken for a grade. IBI courses
may not be taken on a Pass/Fail basis. Students from affiliated institutions receive their actual letter grades not
transfer grades.
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CALENDAR AND PROPOSED FIELD SEMINAR ITINERARY
The following is a projected calendar for the IBI 2013 program. There may have to be adjustments in this schedule due to
factors beyond the control of program administration, but it is expected that any such changes will be minimal and the
academic integrity of the program will be maintained.
May 22
Departure from the U.S.A. (JFK International Airport)
May 23-24
Vilnius, Lithuania – orientation, introductory class and tour of the old capitol.
May 25-29
Klaipeda, Lithuania at LCC International University – orientation, classes and corporate visits.
May 30
Overnight sleeper train from Riga, Latvia to Moscow, Russia.
May 31-June 3
Moscow, Russia – corporate and cultural visits.
June 4
Flight from Moscow to Frankfurt; coach to Heidelberg.
June 4-9
Heidelberg, Germany – classes, corporate and cultural visits.
June 10-14
Prague, Czech Republic – classes, corporate and cultural visits.
June 15-19
Innsbruck, Austria – classes, cultural visits and mountain excursion.
June 20-22
Geneva, Switzerland – classes, corporate and organizational visits.
Day trip to Mt. Blanc at Chamonix, France.
June 23-26
Paris, France – classes, governmental and cultural excursions.
June 27
Depart for The Hague. Stop in Brussels.
June 27-29
The Hague, The Netherlands – corporate visits. Tour of Amsterdam.
June 30
Travel to London by sea. Overnight Cruise.
July 1-3
London – classes and cultural visits.
July 4
Flights from London to Chennai, India.
July 4-14
Chennai, India – classes, corporate and cultural visits.
July 15
Flight to Delhi.
July 15-17
Delhi, India – cultural excursions.
July 18
Flight to Shanghai, China.
July 18-20
Shanghai, China – corporate and cultural visits.
July 21
Flight to Dalian.
July 21-26
Dalian, China – classes, corporate and cultural visits.
July 27
Flight to Beijing.
July 27-31
Beijing, China – classes, corporate and cultural visits.
August 1
Return to the U.S.A.
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FIELD SEMINAR VISITS, BRIEFINGS, AND ACTIVITIES (PROVISIONAL SCHEDULE)
In each of the major cities visited there is often an introductory tour with a professional guide for orientation. There are also
planned briefings, academic presentations, or visits to major corporations and businesses as well as governmental
institutions. Although the primary emphasis of the program is related to business and economics, a significant portion of time
is also devoted to points of cultural and historic interest. Please note that this schedule and details are still provisional but
we do not expect any major changes. Some adjustments may have to be made because of circumstances beyond the
control of the program administration.
PLEASE NOTE: IBI IS A RIGOROUS ACADEMIC PROGRAM AND NOT A TOUR. Academic work is continuous
throughout the program, but an effort is made to include cultural, scenic, and historic points of interest and free time is also
allotted for students to pursue their own interests. Some of the highlights for the IBI 2013 session are as follows:
LITHUANIA: Klaipeda – After visiting the old capitol of Vilnius we will travel to the famous port city of Klaipeda. We will stay
at the LCC International University, the largest Christian University in Eastern Europe. In addition to classes we will visit
various places of business.
RUSSIA: Moscow – Corporate visits and presentations by Russian resource persons from various organizations. Guided
visits to Red Square, the Kremlin, Lenin’s Tomb, and other points of interest.
GERMANY: Heidelberg – This is our base for the industrial Ruhrland. It is a pleasant university town and we will use our
chartered coach to travel to Frankfurt and Mannheim. Frankfurt: Visit to Deutsche Bank and the European Central Bank.
Mannheim: Visit to the plant and European head office of John Deere, an American leader in agricultural machinery with
presentations on the strategy of the firm. Guided visit to the venerable castle of Heidelberg.
CZECH REPUBLIC: Prague – Introductory tour of Prague and its wonderful medieval center. Classes and a visit to Stanley
Black and Decker’s largest European manufacturing plant in Usti.
AUSTRIA: Innsbruck – Classes daily but in a charming city located in an Alpine valley with genuine Austrian atmosphere.
We will visit Swarovski Crystal just outside Innsbruck. The coach will take an afternoon for an Alpine excursion. Take some
time for some explorations on your own. On the way from Prague to Innsbruck we will visit the Nazi concentration camp at
Dachau near Munich, Germany.
SWITZERLAND: Geneva – Time permitting, visits to points of interest in the city, including The Reformation Monument.
Visit to the World Trade Organization. Vevey – Visit to the head office of the Nestle Company.
FRANCE: Paris – Classes and academic work with an introductory guided tour of the city. Visit to the OECD. Versailles: a
half-day tour of this historic palace complex.
BELGIUM: Brussels – Visit to the EU Parliament and medieval city center.
THE NETHERLANDS: The Hague – Visits to Shell International and Ahold. Tour of Amsterdam.
ENGLAND: London – Introductory guided tour to major points of interest in London. Possible corporate and cultural visits.
INDIA: Chennai (formerly Madras) – This important economic and cultural center will be our home for a week of intensive
academic work. Corporate and cultural excursions as time permits. Delhi – Our base as we make cultural visits including
the Taj Mahal.
CHINA: Shanghai – Tour of this major financial center. Dalian – This tier two city will be the backdrop to our final week of
intensive academic work. Corporate visits. Beijing – Classes, tour of China’s capital including Forbidden City. Day trip to
Great Wall and Tiananmen Square. Corporate visit. Final dinner together.
NOTE: An effort will be made to attend church services on Sundays.
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GOALS AND OBJECTIVES OF THE INTERNATIONAL BUSINESS INSTITUTE:

To provide a global and cross cultural dimension to the economics and business curriculum.

To enable students to have dialog with leaders in private industry as well as government.

To enrich the economics and business curriculum by visits, briefings, and presentations at leading business,
financial, and governmental or public institutions.

To challenge students to relate Christian and biblical values to issues of economic organization, public policy and
business ethics, especially in the international context.

To form a closer community of students and faculty during the summer term by common activities, discussion, and
shared experiences.

To facilitate the integration of classroom work, reading, and research, with first hand contact and experience
related to the fields of study.
ACADEMIC PROGRAM
The International Business Institute offers the student four courses of three credit hours each. Since the courses are upper
division, the student is expected to have completed a year of principles of economics, including a micro and macro
sequence. Participants are also expected to have completed a course in accounting or finance and one each in marketing
and management. Exceptions to these prerequisites should be cleared with the Managing Director at the time of application.
Courses:
Economics 331 – Comparative Economic Systems (3)
Economics 350 – International Trade and Finance (3)
Business Administration 339– Global Marketing (3)
Business Administration 390 – Global Business Strategy (3)
Course Descriptions: Faculty listed in bold print have primary responsibility for the course
Economics 331– Comparative Economic Systems
This course provides an introduction to the comparative study of economic systems, their underlying ideological foundations
and institutional arrangements. The historical and political context of various systems is analyzed along with the central
organizational features of the major types of economic systems. The major topics covered are: The Baltics; Russia; The
United Kingdom; Germany; France; the EU; Japan; India and China.
Faculty: Koch, LaFrance (will be taught primarily at the beginning and the end of the program)
Economics 350 – International Trade and Finance
This course is a survey of the analytical and institutional aspects of international trade and finance. The historical and
contextual elements are the foundation for the examination of current theoretical and empirical approaches to international
economic and business relations. The classroom and the reading coverage are supplemented by various institutions related
to this subject area.
The course is divided into two major areas of emphasis: International finance and monetary relations and International trade.
Topics include: The theory and analysis of balance of payments; Foreign exchange markets; Determination of foreign
exchange rates and international adjustment; International monetary arrangements and financial flows. The portion on
international trade will cover both classical and modern trade theory; commercial policy; current issues in trade policy and
international investment.
Faculty: Rundle (will be taught in Dalian, China)
Business Administration 339 – Global Marketing
This course focuses on the theory and practice of contemporary global marketing management. The context or environment
of international marketing is covered along with the task of marketing in a variety of national domestic markets with their
distinct cultural settings. The course is divided into three major areas: overview of the global marketing environment; moving
into international markets; and advanced international marketing management. Participating students will have the
opportunity to discuss marketing theory and strategy with marketing management of a number of leading international firms.
Faculty: To Be Determined (will be taught in Chennai, India)
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Business Administration 390 – Global Business Strategy
This course is designed to cover the major topics normally offered in a course in international business management and
strategy. It also has a very important function of enabling the integration of field experiences, corporate visits, and
presentations by guest faculty with the current theoretical developments and literature in this field. Students will be expected
to prepare analytical reports on some of the firms and institutions represented in the program.
The course is usually divided into several major components. (1) A general review of global business management and
strategy; (2) International aspects of organizational management and behavior; (3) leadership and global strategy. The
emphasis in each of these areas depends on the faculty involved.
Faculty: Armstrong (will be taught during three (3) weeks of travel in Europe)
FACULTY
Dr. Kenneth Armstrong was recently the Interim Dean for the Fermanian School of Business at Point Loma Nazarene
University. He was also the Interim Dean of the School of Management at George Fox University just outside of Portland,
OR. From 1990-2008 he was Professor of Management at Anderson University in Indiana where he was Dean of the Falls
School of Business for 12 years. During his tenure he was instrumental in leading Anderson in developing both an MBA and
DBA (doctorate in business). He has an MBA from Central Michigan University and a PhD. from Northwestern University in
Illinois. Dr. Armstrong has taught a variety of courses over the years, but focuses primarily on Global Business, Strategic
Planning and Management. He has published in numerous journals and has presented several papers at professional
meetings to academic colleagues. Dr. Armstrong has also served as a consultant on strategic planning to academic
institutions and private corporations. He has also traveled to Russia, China, and Mexico as part of academic initiatives. Dr.
Armstrong has taught on IBI previously and will have primary responsibility in teaching the Global Business Strategy course
in 2013.
Dr. Steve Rundle is Professor of Economics at Biola University. He received his B.A. in economics from California State
University, Northridge, and his Ph.D. in economics from Claremont Graduate University. Before entering the academic
world, he served in the U.S. Marine Corps, followed by several management-level positions in the interstate trucking
industry. His teaching and research interests are focused on the intersection between international economics and world
mission. He has authored or coauthored many journal articles and book chapters on this subject, as well as two books –
Great Commission Companies: The Emerging Role of Business in Missions (Intervarsity Press, 2011) and Economic
Justice in a Flat World: Christian Perspectives on Globalization (Paternoster Press, 2009). He also assists, consults
several organizations that aim to see Christian-owned businesses prosper in less-developed countries. Dr. Rundle has
taught on IBI previously and will be teaching International Trade and Finance in 2013.
Dr. Paul Koch is Professor of Economics at Olivet Nazarene University in Bourbonnais, Illinois, where he has taught
since 1992. A graduate of George Fox College in Newberg, Oregon, he holds a master’s degree in economics and a
doctorate in curriculum and instruction, both from Illinois State University, where he also taught for several years. While at
ISU, he helped develop and teach workshops for public school teachers that were offered through the University’s Center
for Economic Education. Professor Koch received Olivet’s Faculty Award for Teaching Excellence in 1996, and is
currently engaged in a research project, along with his ONU colleague, Dr. Kevin Lowery, entitled, “Adam Smith Meets
John Wesley.” His wife, Debra, is the 4-H Program Coordinator for the University of Illinois Extension in Kankakee
County, and will complete her Master’s degree in Organizational Leadership at Olivet in the Spring of 2013. They have
two sons and one daughter-in-law. Dr. Koch has taught on IBI previously and will be teaching Comparative Economic
Systems in 2013.
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Dr. Vincent LaFrance is Managing Director of IBI and Professor of Economics at Messiah College in Pennsylvania. He
graduated from the University of Delaware where he majored in economics and had a minor in business. After working in
the business world for several years, he completed his PhD in economics at Pennsylvania State University. Dr. LaFrance
taught for eight years at Dickinson College in Carlisle, Pennsylvania until he joined the faculty of Messiah College in 1988.
He has taught a variety of courses at Messiah, including a popular cross cultural course in Costa Rica. He served as
Interim Dean of the School of Mathematics, Engineering and business in 2001-2002 and as Chair of the Department of
Management & Business from 2001-2008. He has been involved with IBI since 1997.
ARRANGEMENTS AND ACCOMMODATIONS: Transportation will include planes, trains, a ship and private chartered
coach. The program accommodations are in university residences, tourist hotels, and similar facilities. Much of the time, the
rooms will be on a double basis with a private shower or bath. There will be occasions when it may be necessary to assign
triples or quads and there will also be times when there are not private showers or baths. Students will be expected to room
with a variety of students from different schools on the program.
All meals will be provided for in the program, including occasional packed lunches or a meal allowance.
NOTE REGARDING VISAS: The itinerary requires IBI to obtain Russian, Indian and Chinese visas. This necessitates that
the applicant surrender his/her passport to IBI from March 1 to April 25. Thus, applicants should be aware that, if accepted,
they will not be able to be outside the U.S. during the period IBI needs their passport. This could interfere with travel and
study abroad plans for spring of 2013. In addition, non-U.S. passport holders are responsible for obtaining any visas
they may need for the European portion of the program with the assistance of their home institutions. This should
be done early enough to allow time for IBI to apply for the Russian, Indian and Chinese visas.
PROGRAM COST AND PAYMENT ARRANGEMENTS: The total program fee for IBI 2013 is $18,990.00. This is
intended to be as comprehensive as possible and includes 12 semester hours of academic credit; all room and board; transAtlantic, intra-European and Asian airfares; (Note: Students are responsible for their transportation to and from the IBI
gateway, New York) all scheduled coach and rail transport; Russian, Indian and Chinese visas; academic materials; and all
admissions and excursions on the program schedule. Students will be required to purchase their own textbooks. We
suggest they do this online as soon as we inform them of the book selections for 2013. Financial aid is not available from
IBI but students should consult with their advisor and financial aid office on campus for possible sources of
financial assistance. Credit Cards will not be accepted.
Because of the uncertainty of exchange rates and other related expenses, there may have to be an adjustment in the total
fee. In order to apply for a place in the program, a deposit of intent of $400.00 must be submitted with the application form.
This deposit will be refunded if the student is not admitted to the program or if the withdrawal is prior to January 15, 2013.
The payment schedule is as follows: February 1 - $4,000; March 1 - $4,590; April 1 - $10,000.