This course will give students a better understanding of the business environment in the EU and the challenges and opportunities for companies operating within its borders. Whether a small enterprise or a global business, every commercial endeavour is influenced by EU political and economic developments. The EU continues to be the most important market for U.S. businesses, as well as the biggest investor in the United States and the biggest recipient of U.S. investments. The EU will play a major role in the efforts toward a global economic recovery; and for this reason, its strategies for sustainable development and increased competitiveness will be carefully analysed. The business opportunities resulting from deregulation and the liberalisation of European industries, the completion of the Single market, and the liberalisation of the financial services markets will be discussed as well as the issues of energy security and the EU’s relations with its immediate neighbours. A special emphasis will be placed on the evolution and the challenges facing the Economic and Monetary Union. The opportunities arising from the emerging markets in Europe and the EU enlargement will be scrutinised carefully. Special attention will be paid to the European environmental policy, the challenges of climate change and the way Europe is responding to these threats. The issues of sustainable international development and fair global trade will be covered extensively. The course work is participative and interactive.
Prerequisites:
None; however, some background in micro/macro economics; international relations; and/or business is desirable.
Learning outcomes:
A broad knowledge and understanding of European institutions and the European business environment. Students will also be able to identify the most topical issues in European integration and the business opportunities arising from them. Students will also be in a position to outline effective strategies for U.S. businesses in Europe.
Method of presentation:
The course involves a combination of lectures, discussions and student presentations. Study visits to the EBRD (European Bank for Reconstruction and Development) and other financial institutions will be included in the course programme. Students will prepare a project that will consist of an analysis of the business opportunities in the EU, and the formulation of a strategy for investment in a particular sector or country.
Required work and form of assessment:
Mid-term paper (30%)
Individual case studies (including written and oral presentation) (15%)
Class Participation (15%)
Final Paper/Course project (40%)
The mid-term paper is a take home exam allowing students to choose from one of three questions that will be distributed a week in advance. The paper is “open book” and will allow students to draw on required and supplemental reading.
The individual case studies will assess the student’s ability to discuss real life situations and companies.
Participation in discussion is a key component of the course. Students’ contributions should reflect their reading and thoughts about the relevant topical issues. The style of the discussion will be informal, questioning and participative.
The final paper/course project will give students the opportunity to showcase their acquired knowledge of European business.
content:
Week 1: What is the European Union?
Course Introduction
Discussion: Student Interests, Aspirations, Relevant Prior Course/Work Experience
Member States, Institutions and Decision Making
The Lisbon treaty and its impact on the EU
The current economic environment and the EU
Readings: Relevant articles and other relevant readings as assigned by the professor
Week 2: The Common, Internal and Single Markets
What is a Common Market?
The European Single Market: How it works
The Achievements and the Challenges Facing The European Single Market
Readings: Relevant articles and case studies as assigned by the professor
Week 3: Business Strategy and the Single European Market
Analyzing the European Business Environment
Establishing European and Global Objectives
U.S. Companies in European Markets: Successes and Problem Areas
Choice of Market Entry Model(s)
Readings: Relevant articles and case studies as assigned by the professor
Week 4: EU Economic Policy
The role of Europe in the Global Economy during the recent economic downturn
The Liberalization of the European Energy and Utilities markets, Financial Services and Telecommunications Markets and U.S. businesses
Field Trip: European Bank for Reconstruction and Development, London
Week 5: The EMU (€)
What is the European Monetary Union? History, Current State of Affairs, Future Prospects
Macroeconomic, Political and Constitutional Issues
The Euro, the Dollar and the prospects for a Global Currency
What is the Impact of the EMU on the British Economy and British Businesses?
Is there a case for UK withdrawal from the EU and what would be the consequences of such a decision?
Readings: Relevant articles and case studies as assigned by the professor
Week 6: The Prospects for a Short, Medium, and Long Term Economic Recovery, and the Role for the EU?
The impact of the global economic downturn on the EU
EU measures to combat recession and to improve European competitiveness
Possible venues for EU-US cooperation and interaction in achieving financial stability
Field Trip: the Bank of England
Week 7: Mid-Term papers due
Week 8: EU Key Policies and their Impact on U.S. Companies operating in Europe (I)
The impact of EC law on U.S. businesses operating in Europe
EU competition policy: prominent cases and decisions
What lessons did Jack Welch and Bill Gates learn about EU competition policy?
EU labor market and policies: an opportunity or an obstacle for U.S. companies?
Regional and Cohesion funds
Common Agricultural Policy
Readings: Relevant articles and case studies as assigned by the professor
Week 9: EU Key Policies (2)
EU and energy security
Sustainable energy
EU and climate change: real challenges and opportunities
EU Industrial Policy
Readings: Relevant articles and other readings as assigned by the professor
Week 10: External Trade Policy and Sustainable Development
European Economic Area, bilateral and multilateral agreements
The EU and Fair Trade: achievements and missed opportunities
WTO, G7/8, OECD agreements
Readings: Relevant articles and other readings as assigned by the professor
Week 11: Enlargement of the European Union and its Implications for doing Business in the EU
The EU Enlargement: history, state of affairs, future trends
Emerging markets in the EU: what opportunities are there for US companies?
EU enlargement and the EU Good Neighborhood Policy
The Future of the EU: How Big is Enough?
Readings: Relevant articles and other relevant readings as assigned by the professor
Week 12: EU-U.S. Relations
The current and future Agenda of the Transatlantic relations
Current debates in the EU-U.S. trade relations
The role of the combined EU–U.S. efforts for a lasting economic recovery
The re-invention of the Transatlantic Alliance
Field Trip: The US Commercial Office, EBRD
Week 13: Submission of Course Project and Presentations
Required readings:
Johnson, Debra and Turner, Colin European Business, (Routledge, 2008, 2006) Somers France European Business Environment. Doing Business in the EU. Routledge, 1st edition, 2010
Harris, Neil European Business and Marketing, Sage Publications, 2004
Country strategies and Transition reports of the EBRD
Monitoring reports of the European Commission on the state of preparedness for EU membership
The McKinsey Quarterly articles and case studies
The Economist Intelligence Unit reports
Recommended readings:
Ali M. El-Agraa The European Union Economics & Policies, F T , 8th Ed, 2007
Jones, Basil, Europe at the Crossroads, Nova Science Publishing House 2008
Hughes, Kirsty S. European Competitiveness, 2008, Cambridge University Press
McGiffen, Stephen P. The European Union. A Critical Guide,2nd edition, Pluto Press, 2005
Reid, J. R The United States of Europe. From Euro to Eurovision- the Superpower nobody talks about, Penguin Books, 2005
Dr. Andrey Jichev has spent twenty years in the diplomatic service. Educated in the Russian Federation and UK, he has both an M.A. and Ph.D from the Moscow University of International Relations (MGIMO); postgraduate diploma in EC Law from King’s College, London; and an MBA from Richmond, the American International University in London. Since 2003, Dr. Jichev has been an adviser at the European Bank for Reconstruction and Development, London.
This course will give students a better understanding of the business environment in the EU and the challenges and opportunities for companies operating within its borders. Whether a small enterprise or a global business, every commercial endeavour is influenced by EU political and economic developments. The EU continues to be the most important market for U.S. businesses, as well as the biggest investor in the United States and the biggest recipient of U.S. investments. The EU will play a major role in the efforts toward a global economic recovery; and for this reason, its strategies for sustainable development and increased competitiveness will be carefully analysed. The business opportunities resulting from deregulation and the liberalisation of European industries, the completion of the Single market, and the liberalisation of the financial services markets will be discussed as well as the issues of energy security and the EU’s relations with its immediate neighbours. A special emphasis will be placed on the evolution and the challenges facing the Economic and Monetary Union. The opportunities arising from the emerging markets in Europe and the EU enlargement will be scrutinised carefully. Special attention will be paid to the European environmental policy, the challenges of climate change and the way Europe is responding to these threats. The issues of sustainable international development and fair global trade will be covered extensively. The course work is participative and interactive.
None; however, some background in micro/macro economics; international relations; and/or business is desirable.
A broad knowledge and understanding of European institutions and the European business environment. Students will also be able to identify the most topical issues in European integration and the business opportunities arising from them. Students will also be in a position to outline effective strategies for U.S. businesses in Europe.
The course involves a combination of lectures, discussions and student presentations. Study visits to the EBRD (European Bank for Reconstruction and Development) and other financial institutions will be included in the course programme. Students will prepare a project that will consist of an analysis of the business opportunities in the EU, and the formulation of a strategy for investment in a particular sector or country.
The mid-term paper is a take home exam allowing students to choose from one of three questions that will be distributed a week in advance. The paper is “open book” and will allow students to draw on required and supplemental reading.
The individual case studies will assess the student’s ability to discuss real life situations and companies.
Participation in discussion is a key component of the course. Students’ contributions should reflect their reading and thoughts about the relevant topical issues. The style of the discussion will be informal, questioning and participative.
The final paper/course project will give students the opportunity to showcase their acquired knowledge of European business.
Week 1: What is the European Union?
Course Introduction
Discussion: Student Interests, Aspirations, Relevant Prior Course/Work Experience
Readings: Relevant articles and other relevant readings as assigned by the professor
Week 2: The Common, Internal and Single Markets
Readings: Relevant articles and case studies as assigned by the professor
Week 3: Business Strategy and the Single European Market
Readings: Relevant articles and case studies as assigned by the professor
Week 4: EU Economic Policy
The role of Europe in the Global Economy during the recent economic downturn
Field Trip: European Bank for Reconstruction and Development, London
Week 5: The EMU (€)
What is the European Monetary Union? History, Current State of Affairs, Future Prospects
Readings: Relevant articles and case studies as assigned by the professor
Week 6: The Prospects for a Short, Medium, and Long Term Economic Recovery, and the Role for the EU?
Field Trip: the Bank of England
Week 7: Mid-Term papers due
Week 8: EU Key Policies and their Impact on U.S. Companies operating in Europe (I)
Readings: Relevant articles and case studies as assigned by the professor
Week 9: EU Key Policies (2)
Readings: Relevant articles and other readings as assigned by the professor
Week 10: External Trade Policy and Sustainable Development
Readings: Relevant articles and other readings as assigned by the professor
Week 11: Enlargement of the European Union and its Implications for doing Business in the EU
Readings: Relevant articles and other relevant readings as assigned by the professor
Week 12: EU-U.S. Relations
Field Trip: The US Commercial Office, EBRD
Week 13: Submission of Course Project and Presentations
Dr. Andrey Jichev has spent twenty years in the diplomatic service. Educated in the Russian Federation and UK, he has both an M.A. and Ph.D from the Moscow University of International Relations (MGIMO); postgraduate diploma in EC Law from King’s College, London; and an MBA from Richmond, the American International University in London. Since 2003, Dr. Jichev has been an adviser at the European Bank for Reconstruction and Development, London.