BSc in International Business

Statistics

The major goal of the statistics course is to produce statistically educated students which mean that students should develop statistical literacy and the ability to think and reason statistically.

Statistics is a valuable tool in the practical application of every other science. Emphasis is on interpretation and understanding of simple statistical methods as applied in business, economics, different types of companies or institutions and industries.

The topics of the curriculum are:

a)The basic laws of probability and the most important probability distributions.

b) Descriptive statistics, both numerical and graphical.

c) Statistical inference; estimators, confidence intervals and significance tests of hypotheses.

d) One and two sample tests for means and proportions; paired and unpaired data.

e) Analysis of association using contingency tables and correlation.

f) Regression analysis; simple, multiple, logistic.

g) One-way and two-way analysis of variance, analysis of covariance.

 

Learning Objectives

The goal is to enable the students to interpret, understand and apply basic statistical concepts as they apply in scientific research as well as in everyday life. The students will become familiar with basic probability theory as a model for randomness, concepts of statistical inference as well as a number of concrete estimators, confidence intervals and test. Statistical software will be introduced. At the completion of this course the students will be able to:

ECTS

7.5

Macroeconomics

This course offers an introduction to macroeconomic analysis. This includes the theory of output and interest rate determination; the relationship between goods and financial markets; the relationship between employment and inflation; the role of fiscal and monetary policy; and, not least, international economic relations. 

In this course, we will relate macroeconomics models to real-life events. This will help us understand the current debates about, for example, the key monetary policy arrangements and inflation targeting in the Eurozone, the conduct of fiscal policy and the debates over government debts in the EU, the choice of exchange rate regimes (and, in particuler, the implications of the fixed echange rate policy conducted in Denmark).

Why do economies expand sometimes, raising employment and living standards, and shrink at other times? What is a recession? What happened in 2008–09 when the world economy was hit by the worst recession since the Great Depression of the 1930s? How do we explain the high inflation rate that we currently observe?

More generally, which shocks affect macroeconomic activity? How do these shocks affect output, employment, investment, or consumption? Can government policies make economies grow or stop them from shrinking? Is there anything we can do to reduce inflation? Are these policy responses effective?

These are some of the central questions that fascinate macroeconomists. If you are curious about how macroeconomists look at the world around them, how they model it, and how this helps answering the questions you just read, then this is the course for you. 

Learning Objectives

After ending the course, the students should be able to:

ECTS

7.5

International Economics

This course offers a detailed introduction to international economics. We study several trade theories with the goal of explaining why international trade takes place, what are the benefits of international trade, and in what patterns countries trade with each other. We also study trade policy tools and their implications for market equilibrium (prices and quantities), social welfare (gross national product) and the distribution of welfare (inequality).

Learning Objectives

After having attended the course the students should be able to:

ECTS

7.5

Corporate Finance

This is an introductory course in finance focusing on corporate applications in the international environment. It covers the basic theories of interest rates, valuation of streams of cash flows, pricing of risk, and it draws practical implications for capital structure, project valuation, financing, and risk management.

More specifically, the course contains a basic introduction to topics such as:

• The main characteristics of corporations
• The relationship between accounting information and the information analysed in corporate finance
• Interest rates and the time value of money
• The valuation of bonds and stocks
• The investment decision
• The financing decision including capital structure theory and the cost of capital
• Payout policy
• Mergers and acquisitions
• International financial mangement and capital budgeting
• Financial and real options
• Risk management

Thereby, the course reflects the BSc IB program learning goals in the following way:

Practical Application of Theory
The course includes many exercises and cases illustrating the practical application of theory. In particular, this is achieved both through lectures (illustrating practical applications) and assigned readings from The Economist.

Relation to a Business or an Institutional Setting
Several aspects of different types of financial markets are examined including public versus privately owned companies and various types of providers of capital (investors).

Relation to International Business or Economics
The international perspective is taken in connection with many of the topics covered during the course especially including mergers and acquisitions, financial management and capital budgeting, and risk management. Several examples are looking at multinational firms.

Research Based Teaching
The curriculum includes articles that summarize several research papers and ties such research to the practical use of the theoretic methodologies introduced in the course. Furthermore, evidence from several empirical studies is discussed during the course.

Learning Objectives

The student is expected to be able to

ECTS

7.5

Electives / Exchange / Internship (30 ECTS)

In the 5th semester, you can take electives at CBS or other universities, go on exchange or do an internship in a company.

Bachelor Project

See teaching methods

Learning Objectives

ECTS

15

Microeconomics

Learning Objectives

After having followed the course the students should be able to:

ECTS

7.5

Industrial Organisational Analysis

The students should get an introduction to industrial organization. They should understand the basic microeconomic models of industrial organization, such as monopoly theory and oligopoly theory and their underlying intuitions. They should get acquainted with some basic concepts of game theory and with theories that explain collusive behaviour, product differentiation, market entry and exit, and the development of markets over time. They should also learn to know empirical regularities around these issues and empirical approaches which try to identify market structure and the level of market power in industries.

The theories and empirical approaches will be covered in class and should be used by the students to analyse the market structure, the type of competition, the level of market power and the strategies that firms use to maintain their market power in real world industries from potentially all parts of the world. In addition the main features of the anti-trust policies in Europe and in the US will be discussed.

The taught theory will be practically applied when discussing small cases in class. The course is related to a business and/or an institutional setting because the small cases are related to specific firms and the students will be introduced into the workings of the anti-trust authorities in the US, the EU and Denmark. The course is also related to international business and/or economics since the small cases focus on global strategies of multi-national firms, on global markets and on national markets in different countries. 

Learning Objectives

After having attended the course the students should be able

ECTS

7.5

Financial Accounting

• Accounting as a form of communication
• Financial statements and Annual Reports
• Double-entry bookkeeping
• Cash basis and accrual basis of accounting
• Inventories and Cost of Goods Sold
• Cash, receivables and short term investments
• Fixed Assets (Tangible & Intangible)
• Goodwill
• Current Liabilities, Present Value, and Long-term liabilities
• Shareholders’ Equity
• Cash Flow Statements
• Financial Statement Analysis

Course aim:
Students learn to develop their understanding of financial accounting via reference to practical examples, exercises and mini-cases.
 
Relation to a Business or an Institutional Setting: Class discussions are focused around multinational companies in different industries – both European and US. The course textbook has many good examples from US business life, which will be contrasted against their European peers.

Relation to International Business or Economics: The core theme of the course is the financial accounting within multinational corporations.

 

Learning Objectives

After having completed the course students should be able to:

ECTS

7.5

Global Strategy, Technology and Innovation

Learning Objectives

to be announced

ECTS

7.5

Contemporary Issues in International Business

The aim of the course is to explore and develop nuanced understandings of a range of contemporary issues and debates in International Business, and further develop the skills that will enable lifelong learning. To this end, emphasis is placed on ‘problematizing’ current understandings of contemporary issues in international business by placing them in their historical context, tracing the evolution of knowledge, and questioning taken-for-granted assumptions that inform current theory and business practice.  Sources of contemporary issues include debates in the academic literature alongside current events in business and society. A focus on contemporary issues means that specific topics covered will vary over time.  Nonetheless, indicative issues include: How do crises – such as global pandemics or financial crises – shape the location decisions of multinational enterprises and re-shape core IB theory? What are the implications of using English as a ‘lingua franca’ for relationships of power and the management of diversity within MNEs? How can innovative small firms shape international institutions for competitive advantage, or is this solely the domain of government and large MNEs? How do MNEs foster – and destroy – subsidiary initiatives and local entrepreneurship? In what ways do MNEs advance or detract from the United Nations’ sustainable development goals, such as ‘reduce inequality’ and ‘economic growth’? The exploration of these and similar questions will draw on the latest academic literature and case studies of international businesses.  Students will be expected to make connections across contemporary issues and revisit prior learning with new understanding

Learning Objectives

ECTS

7.5

International Business Environment

Learning Objectives

After having followed the course the students should be able to:

ECTS

7.5

Principles of International Marketing

Learning Objectives

To achieve the grade 12, students should meet the following learning objectives with no or only minor mistakes or errors. The specific learning objectives of the course are the following:

ECTS

7.5

Organisational Behaviour

Course Goal and Objectives

The course aims to teach students how organizations work based on organization and management scholarship.

The objectives are that students will: 1) develop an ability to identify, analyze, and discuss important aspects of work behavior through an organizational perspective; and 2) apply theories from the course to competently solve problems, manage continuity and change, and be more effective leaders and managers, especially in an international scale.

Course Content

The course will focus on the crucial elements of organizations (e.g., organization structure and culture) and how they relate to work behavior and management goals (e.g., knowledge, change, and social responsibility). We will examine these topics across sectors and types of organizations with particular attention to the global business environment and the Nordic Nine capabilities. The course is anchored on organization theory literature complemented by insights from cutting-edge research by course lecturers and current media debates about organizations. 

Pedagogical Approach

The course follows an approach that emphasizes the development of critical thinking among students through the continuous application of concepts and discussion about their premises and relevance across contexts.

Learning Objectives

After taking this course, students should be able to:

ECTS

7.5

Global Supply Chain Management

Supply Chain Management and modern business logistics provide theoretical as well as practical approaches for direct or indirect value creation by improving performance and/or reducing costs. Key is the alignment, configuration, integration and coordination of flows across manufacturers, retailers, and logistics service providers that are involved in such chains. This means that the institutional setting of a single firm and its business functions as well as the context and environment of the supply chain as a whole needs to be taken into account. Using mini-cases and company cases, the course is designed to reflect and to illustrate in different modules these different perspectives of whole supply chains as well as that of the involved single actor’s and respective that of single business functions like sourcing, production, or distribution. The course thus provides a basic understanding on theory and conceptions of modern business logistics and Supply Chain Management and helps to understand the different institutional settings of a total supply chain view as well as that on the single actors and their company functions.

Further on, globalization implies both globalization of operations (e.g. sourcing, production and logistics) and that of consumption. Customers and suppliers in one country are different from those in another, just as transport, inventory, warehousing, distribution and communication systems differ to cater to specific business environments. Since the scope of supply chain management spans the entire set of organizations from procurement of materials and components to delivery of finished products to the end consumer, it poses additional complexity in the form of extended supply chains where, for example, a company develops a new product in the United States, sources and manufactures it in Asia, and distributes and markets it in the US, Asia and Europe. Therefore, setting up and managing international or global supply chains means that sourcing, production and distribution have to consider differences and similarities between various markets to set up synergized transport, inventory, warehousing, distribution, and communication systems. The course will take especially the logistics and supply chain challenges that result from such global environments into account.

The course built first on the basic theoretical fundaments of modern logistics and supply chain management, such as systems thinking, flow thinking, integration as well as other concepts that are adapted for logistics and Supply Chain Management issues. Across the views of different involved actors, students learn to apply these theoretical building blocks on different levels of description and analysis, for instance by applying arguments for different types of global supply chain designs and strategies, information sharing initiatives in the chain, or selecting distribution and transportation networks. Beyond the theoretical background provided in the introductory sessions, the course emphasizes on the ‘how to’ aspects of global supply chain management. Each session therefore strives on creating a toolbox for the students that may be applied in future practical settings, for dealing with basic supply chain management issues such as ‘partnerships’, ‘information sharing’, and ‘supplier selection’.

The course includes case-based and mini-case-based application of key theoretical and operational concepts in order to understand the global supply chain management practices of leading companies such as Ford, Procter & Gamble, Metro, Tesco, or Toyota. Finally, this course has also been designed keeping in mind the faculty’s research competence in the field of global supply chain management. Problem settings and examples of past and current research projects will be applied to illustrate theories, specific context and related supply chain challenges. Where appropriate additionally guest speakers will be invited to support the distinct perspectives or to relate their research to the management of global supply chains. Guest lectures in the past have included themes such as ‘product and process innovation’, and ‘Efficient Consumer Response’ in the global supply chain. Future guests might speak about “Globalization of Retailing Supply Chains”, or “RfID Applications in global Supply Chains”.

Learning Objectives

Key objective of the course is to introduce students into the business challenges and solutions of supply chain management and modern business logistics in a global environment. Students should learn to identify and analyze specific basic and global supply chain management problems and relate it to theories, methods, and justifiable solutions. For the application and discussion of solutions they should acquire knowledge on concepts, structures, tools and processes, which are necessary for the management of global supply chains as well as on their application context of global supply chain management issues. Finally the students should learn to demonstrate the use of “flow thinking” and SCM terminology that is central to this course. Upon course completion students should be able to: Identify management issues, both physical & technical and managerial & behavioral, in global supply chains and logistics operations and relate them to key theories, models and concepts of supply chain management and modern business logistics. Outline ways of factoring complexity in business situations arising from international business and inter-organizational relationships in operations like logistics, sourcing, and production Apply basic theoretical ideas and concepts by using taught methods such as mapping global supply chains in terms of flows and scope and demonstrating comprehension of SCM concepts and terminology Distinguish challenges in global procurement, production and logistics issues and analyze, both qualitatively and quantitatively, basic trade-offs such as global supplier, site and transport mode selection. Students shall be assessed against these learning objectives of the course. To gain the highest grade in the exam, students must be able to select and recall basic appropriate models and concepts from the curriculum and present them in a comprehensive and well-argued way that may also put their findings into new perspectives.

ECTS

7.5

International Business Strategy

This course introduces theories of international business strategy and demonstrates them through case studies. Its goal is to develop your ability to apply a holistic view to managerial issues in the international and multinational firms. We will delve into three areas that affect how companies function in the international environment.

Strategy. We'll review of basic concepts of strategy, focus on specific types of international strategy and explore international strategies available both to large MNCs and to small internationalizing companies.

Organization. Here we'll consider organizational issues that arise when formulating and implementing a strategy at the company, such as management of subsidiaries and transactions within the MNC.

Environment. MNCs are embedded in multiple environments, from their host countries to interorganizational networks they are a part of. We'll examine such environments and consider institutional theory, which provides a useful framework for this analysis.

Learning Objectives

Fully recall basic models and concepts from the curriculum and present them in a comprehensive, well-argued way. Furthermore, students must be able put their findings into new perspectives and apply theoretical constructs to suggest a strategy implementation plan for a company if needed. At the completion of this course, students will be able to: * Identify key theories, models and concepts of international strategic business and management, * Debate relevant measurements for strategic analysis, * Analyze complex international business situations, and * Develop coherent strategies for headquarters and subsidiaries of multinational companies

ECTS

7.5

Founder's Dilemmas: Anticipate and Avoid Startup Pitfalls

Within high-potential ventures, the biggest source of failure is “people problems”: the tensions among the founders, or between the founders and the non-founders who join them. In this course, we will examine critical dilemmas that span the lifecycle of a venture, regarding the choice of cofounders and hires, splitting the roles and equity within the team, whether and how to involve investors, why and how founders are replaced, and exit dilemmas.

With each decision, we will delve into the potential pitfalls that exist and the ways to anticipate and avoid those pitfalls. Through experiential exercises, we will develop your skills at dealing with a variety of difficult conversations and negotiations that you might face within your startups. From the discussion of case studies that focus on the founders of high-potential startups, we will develop frameworks to guide your decision making.

To provide greater context and understanding of these founding dilemmas, we will tap statistics gleaned from a dataset on 15,000 founders over the last two decades and discuss how different national contexts and institutional environments affect founder’s choices. We will pay special attention to the differences between the US and Europe, and explore how strategies differ and which pitfalls emerge when startups move from one national environment to another.

This course is for students who plan to become involved in new ventures. This involvement can occur in any of the following ways:

1. As founders of a new venture, now or at mid-career
2. As early hires, early advisors, or board members in new ventures
3. As potential investors (e.g., venture capitalists), customers, partners, or acquirers of new ventures

The course is designed to help these potential founders, hires, and investors prepare for the decisions they will face both before and during their involvement with new ventures.

Learning Objectives

After having completed the course the students should be able to:

ECTS

7,5

Corporate Governance

Corporate governance concerns the way firms are directed and controlled. The regulatory backlash caused by corporate scandals and the financial crisis, as well as growing public and media pressure on companies to act in a ‘socially responsible’ way, have put stakeholder engagement on top of the corporate agenda. Regardless of international business managers’ individual philosophical stance on what the role of business in society should be, these pressures cannot go unmanaged and need to be addressed in a strategic manner. A thorough understanding of the corporate governance demands companies face today is therefore a necessary prerequisite in any international business function.
 
This course gives an introduction to the theoretical foundations of corporate governance, develops awareness of associated practical problems, and provides an overlook of governance systems around the world. The intertwine of legal, economic, political, and psychological factors affecting how firms and markets are run and controlled creates complexity and challenges our ability to state and solve problems practically as well as intellectually. The course provides students with a toolbox and skills for evaluating firms from a governance point of view.
 

Learning Objectives

By the end of the course, students should be able to critically evaluate selected theories within the fields of corporate governance, corporate social responsibility, and business ethics, as well as discuss how these frameworks can be applied to concrete business situations:

ECTS

7.5

Business Research Methodology

The first part of the course provides an introduction to basic epistemological issues in the philosophy of science, as they apply to social science research generally and to research in international business specifically. This understanding will be used to describe, discuss and evaluate common approaches and methodologies in international business research. Models, theories and empirical research on central topics in international business research provide focal examples for this discussion

The second part of the course focuses on the selection, design and critical evaluation of basic methodologies and techniques in international business research, and on the tools and conventions of reporting such research.

Learning Objectives

On completion of the course, students should be able to:

ECTS

7,5

Risk Management of Multinational Enterprise: Creating Global Strategic Responsiveness

The course will discuss different financial, economic, operational, and strategic exposures faced by multinational organizations engaged in global business activities and considers how the underlying exposures and risk events can be managed. The risk management topic is perceived from different functional perspectives including international financial management, insurance, management accounting, global value-chain management and multinational corporate strategy. A number of formal risk management frameworks and standards designed to address identifiable risks are discussed. These approaches are extended to also consider the ability to deal with uncertainty and unexpected events. There is further considerations of effects imposed by core values and responsible multinational management.  
 
Conventional risk management techniques are introduced from different academic disciplines, such as, financial economics, accounting, operations management, organizational behaviour, cognitive psychology and international business strategy. The course will integrate diverse contributions to better understand the multifaceted underpinnings of the field including formal Enterprise Risk Management (ERM) frameworks and more unconventional perspectives of High Reliability Organizations (HROs) and strategic risk-taking approaches.
 
The course will introduce conventional views on risk management from articles, book chapters, reports, and selective case studies but will also extend the scope towards effective management of unpredictable events in the turbulent global business environment.

Learning Objectives

Learning objectives – after completing the course students should be able to:

ECTS

7.5