BSc in International Business and Politics

Political Science

The course focuses on core concepts, theories, and debates in political science, political economy and international relations. It considers institutions, processes, actors, and ideas across different settings as well as theories about the ways in which political systems work at a national and international level.

The course also introduces students to basic assignment-writing techniques, in particular the construction of structured arguments. These are skills that are relevant in academic studies and business careers. 

In relation to Nordic Nine

IBP Political Science addresses the transformational capabilities specified in CBS's Nordic Nine. In particular, the course seeks to place business knowledge within a broad context (N1), emphasizes analytical approaches to date and fosters curiosity about inherent ambiguities (N2), develops critical thinking and constructive forms of collaboration when working on tasks and projects (N6) .

Learning Objectives

ECTS

15

Macroeconomics

The aim of this course is to provide students with an introduction to macroeconomics. The course focuses on the behavior of the economy in the short-run, medium-run, and long-run, specifically looking at the goods market, the financial market and the labor market. The course is designed to help students understand how these markets operate, how they interact with each other, and how they are impacted by shocks and macroeconomic policies. Students also learn to apply the theories to the real world and think critically about recent macroeconomic developments.

In relation to Nordic Nine

This course provides students with knowledge about the economic environment in which businesses operate, e.g. related to inflation, economic growth and unemployment (NN1). Students reflect on societal challenges such as technological change and inequality and learn to apply economic thinking to address these challenges (NN4). More generally, the course encourages thinking critically about the usefulness of economic theories for solving real-world problems (NN6). Students also learn about intergenerational conflicts e.g. related to taxation and government debt, and how these challenge the prosperity of present and future generations (NN7).

Learning Objectives

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).

In relation to Nordic Nine

International Economics provides you with the ability to think about economic relationships between nations from an economic perspective and aligned with several Nordic Nine values.

You will learn how to formulate and answer fundamental economic and policy questions related to economic relations across nations using an analytical approach. You will develop models, assess the plausibility of their assumptions and the empirical validity of their predictions. You will understand the limitations of the models, and their usefulness to understand distinct historical episodes and different societal contexts. (NN1, NN2, NN6, NN8).

You will learn how to approach key societal challenges and ethical dilemmas with rigor and clarity by identifying and articulating the tradeoffs (both from an aggregate and a distributional perspective) entailed by economic decisions and policies (NN3, NN4, NN5).

Learning Objectives

ECTS

7.5

Comparative Political Economy

The Comparative Political Economy (CPE) course introduces students to the comparative approach to understanding modern capitalism and drivers of political, economic, and social differences between societies. The course is structured around key theories and approaches for the comparison of Firms, Economies, and People. This includes theories and approaches that locate the comparative political economy of corporate governance structures, macroeconomic regimes and growth models, as well as welfare regimes and household policies.

Students will learn comparative method and the use of typology, as well as prominent theoretical traditions that offer explanations for why capitalism looks different in different societies. The strengths and weaknesses of these approaches will be explored through a series of cases in advanced capitalist societies structured around the key themes of Firms, Economies, and People. Students will learn how policies for corporate governance, financialization, macroeconomic policy, welfare, and household economies are developed in different societies.

Students will develop an essay that provides the basis for a group oral exam. The essay will apply two theories/approaches from the course to a case from their own independent research, reflecting on the benefits and deficiencies of the theories/approaches in light of the comparative empirics. Through the comparative method and typology the CPE course provides students with the means to analyze topics of relevance to government-business relations.

The CPE course supports Nordic Nine 4, “competitive in business and compassionate in society” by highlighting social and economic structural disadvantages while promoting business-minded solutions.

In relation to Nordic Nine

The Comparative Political Economy course supports the Nordic Nine

values in providing the means to understand and explain the social and politico-economic

structures that replicate both prosperity and inequality over generations (NN7), as well as

how some disadvantages can be addressed with business-minded solutions (NN4). The

course’s focus on comparative methodology supports both critical thinking and to locate

business in a broad context (NN1). The course format supports critical thinking and

constructive collaborations between students in providing a research-led assignment in

preparation for the group oral exam.

Learning Objectives

At the end of the course students are 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

This capstone project is the conclusion of the BSc in International Business and Politics. It is an independent project, written under supervision, and students can pursue their own interests within the broad area of international business and politics. Projects can pursue a purely theoretical question, or they can focus on an action- or policy-oriented problem, or they can pose problems that combine such elements. The supervisor will be assigned based on the subject area of the project.  

Approximately 3 weeks before hand-in a bachelor student conference is held. It is intended to help you to critically reflect upon the content and set-up of your thesis, allow you to practice presenting the main ideas of your thesis to an audience talking about methodological, theoretical and analytical matters in a coherent way. You are expected to participate in the bachelor student conference.

In relation to Nordic Nine

Depending on the student's concentration, the IBP bachelor project can cover all nine transformational capabilities of the Nordic Nine or various combinations thereof (NN1–9). Across different projects, however, the majority of students will be working with and being assessed on their skills in processing data analytically, and especially their sensitivity to ambiguity (NN2). At the same time, regardless of the project's focus, all students receive training in the capacity to critically reflect on their work and engage with others through cluster supervision and the bachelor student conference (NN6).

Learning Objectives

ECTS

15

Applied Microeconomics

This course provides an introduction to microeconomic theory and how economic markets function: it describes what lies behind the notions of demand and supply. Emphasis is placed on the behavioral and technological assumptions that generate product demand and supply, and on market competition and regulation. We also explore important extensions to the basic decision model such as game theory and uncertainty. The main topics in the curriculum are: 
 

• Supply and Demand
• Consumer theory: preferences, rationality assumptions, budgetary constraints
• Extensions: Game Theory, Externalities
• Producer theory: production and costs functions
• Market structure: perfect competition, monopoly, etc.

Practical Application of Theory
In each main topic the theory is exemplified with economic problems and issues. We will discuss how one can use microeconomic theory to evaluate tax and labor market policies with macro-economic implications. 

Relation to a Business or an Institutional Setting
We consider in depth how different market structures infuence decisions by producers and consumers. We also emphasize how governments design institutions to correct market imperfections. 

Relation to International Business or Economics
Several examples from the international business area are considered. Examples will be drawn particularly from U.S., Canada and Europe. 

Research Based Teaching
Issues which are currently under debate in economic research are presented when relevant. In particular, we will discuss the limits of neoclassical models and how the research frontier confronts those limits.

Relation to Nordic Nine

Applied microeconomics will provide you with an introduction to the economic way of thinking, which aligns with several Nordic Nine values.
-You will learn how to approach different and potentially ambiguous problems with an analytical mindset: formulating hypotheses and models, testing them using data, and revising and questioning models and their assumptions whenever they fall short in explaining the real world (NN1, NN2, NN8).

-You will learn how to approach key human challenges and ethical dilemmas with intellectual rigor and honesty: carefully identifying and considering the tradeoffs and unintended consequences of economic decisions and policies, and considering solutions through positive (instead of normative) lenses (NN3, NN5).

- You will acquire a toolkit to explore how economic agents optimize consumption and production of goods, and how they interact in markets. But the very same analytical tools can be used to understand other important aspects of our society, such as the role of people’s other-regarding preferences for their decisions, and the importance of comparative advantages, skills specialization, and returns to scale from cooperation (NN4, NN6).

Learning Objectives

ECTS

7.5

Financial Accounting and Reporting

• 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
• A Case Study in Financial Accounting

Course aim:
Students learn to develop their understanding of financial accounting via reference to practical examples, mini-cases and the annual reports of various companies.
 
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. The relationships between parent company and subsidiaries are emphasized in group accounting and through the consolidation process.

In relation to Nordic Nine

Financial Accounting and Reporting will provide you with an introduction to financial accounting and its use by corporations in practice, which aligns with many of the Nordic Nine values.  

-You will learn how companies record transactions into their accounting records as they produce prosperity for their shareholders and for the wider society. You will understand how they interact with potential investors, banks, suppliers, and creditors and develop an analytical mindset in the evaluation of financial statements (NN1, NN2, NN7).  

-You will develop critical thinking skills towards the presentation of the data in financial statements and also in developing internal controls within a company. Ethical dilemmas in accounting will be presented throughout the course and you will come to understand these from a wider perspective (NN5, NN6). 

Learning Objectives

ECTS

7.5

International Political Economy

International Political Economy (IPE) studies how politics shape the global economy and how the global economy impacts politics. As such, its study centers on state-market relations and the key actors that shape them, including international organizations, government actors and multinational corporations. Levels of analysis range from the national to the supranational, with a constant awareness of the multiple interconnections between the global and the local. This course introduces students to classical debates within the subfield, including the international political economy of trade, finance, development and production. It also tackles more recent topics and grand challenges that are key to contemporary debates about globalization from an IPE perspective, including climate change, money and economic inequality. In studying these topics the course brings to bear key theories of, and approaches to IPE such as realism, liberal institutionalism, critical studies, constructivism and historical institutionalism, all of which are deployed to encourage critical but concrete thinking about the myriad trade-offs that constitute the international political economy, as well as the moral and ethical implications thereof. 

In relation to Nordic Nine

International Political Economy provides historical context for the major socioeconomic shifts of the 20th and 21st century, thereby placing business knowledge in a broad and concrete historical backdrop and projecting it into the future (NN1; NN7). It also tackles key socio-political challenges facing political leadres today, including topics such as financial stability, climate change, and the changing nature of labor and production (NN3). In discussing and analyzing these topics it takes a data driven approach, but also highlights the ambiguity and complex trade-offs that characterize these grand challenges (NN2; NN5). Pedagogically, the course incorporates group work and hones critical analytical skills (NN6). 

Learning Objectives

ECTS

7.5

Corporate Finance

This course provides a broad overview of corporate finance covering the main tools that financial managers use to analyze investment and financing decisions. The first set of lectures will be devoted to introducing students to the goals pursued by corporations and to the financial side of their operations. Subsequently, we will be reviewing some of the accounting concepts that represent an essential background in this field, and we will introduce the concept of "time value of money", which will be a key building block in developing our theory of asset pricing. The same paradigm will also be applied to the valuation of the streams of cash flows that firms generate through their investment projects, which will ultimately lead us to the formulation of a method for making investment decisions.

In relation to Nordic Nine:

The course introduces students to the finances of firms, both from the funding side and the investment side. It intersects with the Nordic Nine vision in several dimensions:

• Deep business knowledge: It provides students with detailed knowledge on the mechanics of both financing and investment by providing students with a firm understanding of a framework for making solid financial decisions based on empirical analytics.
• Competitive in business and producing prosperity: The methods taught in the course are a cornerstone to building up any financially successful company. As such it provides the skills needed to stay competitive in the modern corporate world, as well as giving the foundations for creating corporate economic prosperity.
• Data analytics: Empirical calculations are an integral part of the course. Only with data analytics can one measure the financial performance of companies and the financial impact of managerial decisions.
• Relearning: The course is structured in such a way that students are introduced to all the techniques necessary to make financially sound decisions. Thereafter all techniques are revisited in the second half of the course within particular subjects and topics of corporate finance. Thereby students relearn the techniques by applying them repeatedly to different real-world scenarios.
• Critical thinking: The course emphasis the importance of not only producing financial data, but also learning to interpret those - as well as explaining how that interpretation can differ depending on the circumstances or scenarios one might find himself/herself in. It is thereby underlined that only with critically evaluating the financial information can students become successful financial managers.

Learning Objectives

ECTS

7.5

Political Economy of Development

The course introduces students to theories and issues in the political economy of development. The course will interrogate the interplay between states and markets in driving economic (under)development, the politics of economic development, and the roles of various domestic and international actors, institutions, and structures in this process. The causes and consequences of poverty, inequality, and development will be approached from a comparative perspective using data and case illustrations from, e.g., Africa, Asia, and Latin America. In doing so, the course will address a number of salient issues in contemporary debates on economic and political development, such as the roles of international trade, foreign aid, corruption, and democratization in the developing world. 

In relation to Nordic Nine

Political Economy of Development (PED) introduces students to theories and issues allowing them to understand how the interplay between states, markets, and firms drive economic development, the politics of economic development, and causes and consequences of poverty and inequality on a domestic and global scale. PED directly provides student with a range of transformative values and capabilities relating to the Nordic Nine. PED works with student capabilities relating NN1 by interrogating how students can use and apply knowledge of businesses and understandings of how businesses use global connections to operate and create value in the context of local and global economic and political institutions (NN9). PED also directly relate to NN7 by considering how policy choices that affect current levels of prosperity may impact on the prosperity and life choices of next generations. For instance, how policies or decisions that have immediate benefits for some groups may negatively impact on the prosperity of next generations; or how the use of resources to generate prosperity in the present may affect issues of economic and environmental sustainability affecting future generations of citizens around the globe.

NN1: You have deep knowledge placed in a broad context.

NN7: You produce prosperity and protect the prosperity of next generations.

NN9: You create value from global connections for local communities.

Learning Objectives

ECTS

7.5

Political and Economic Thought

The course presents central thinkers in the history of Western political theory and economics and discusses how those thinkers helped shape the political institutions and economic policies of the Western world.

It covers normative, analytical, and theoretical ideas from antiquity to the contemporary world, such as the origins and functioning of the state, individual freedom, the purpose of society, the ideal government, liberal democracy and other systems of governance, and macroeconomic problems such as the origins of wealth and growth, problems of production, distribution and regulation, economic crises, unemployment and inflation.

Focus is on the origins of contemporary political and economic ideas and on the trajectories of the specialized modern social sciences with a special emphasis on the evolution of, and the disciplinary division between, economics and political science.

In relation to Nordic Nine

Political and Economic Thought (PET) connects deep knowledge of political and economic ideas and theories with broad social and historical context (NN1). PET teaches students to be curious and analytical about theoretical ambiguities that emerge from changing historical circumstance (NN2), enabling critical thinking and constructive action when faced with current and future political and economic doctrines (NN6). The course addresses issues such as economic crises, limits to growth, authoritarian threats to democracy, heterodox and transformative economics as well as gender and economic inequality, so as to ensure PET students are both trained in recognizing humanity’s challenges and provided with knowledge and analytical skills to help resolve them (NN3).

Learning Objectives

ECTS

7.5

Management and Organisation (7.5 ECTS)

Introduction to Management and Organisation

Management and Organisation presents the building blocks of the study, analysis, and management of organisations. The course will introduce students to organisational theory, from the social science “classics” to political economy, transnational, feminist, and critical race theories of organizations. In this course, students will learn how to apply concepts and theories of leadership, management, and organisation to analyze real world empirical evidence and cases. Students will then craft solutions to the pressing challenges that businesses face in today's dynamic global economy, such as those presented by globalisation, sustainability, inequality, diversity, and crisis.

Learning objectives

- Apply critical thinking skills to explain, synthesise, analyse, and evaluate concepts and theories used in the study of management and organizations.

- Design solutions that draw from organisational theory and leadership values to overcome ethical dilemmas and societal challenges presented in empirical cases.

- Demonstrate an understanding of how effectively managing an organisation and compassionately contributing to society can beneficially reinforce one another.

- Use effective communication skills by crafting written and oral arguments that are supported by evidence and logic.

- Constructively evaluate and reflect on one’s own and other people’s application of organisation theory

ECTS

7.5

Research Design and Quantitative Methods

In the realms of business, public policy, and the non-governmental sector, there is an unprecedented emphasis on the need for "evidence." Consequently, the current labor market exhibits a strong demand for graduates proficient in data analysis, capable of designing inquiries, and adept at drawing conclusions from quantitative data.

This course covers both the theoretical background and application of introductory, intermediate, and more advanced statistical and quantitative methods in business and social science. Upon completion of the course, students should have a theoretical understanding of the methods introduced and the ability to apply them to specific research problems. The course will be taught over two semesters. In the first semester, we will discuss concepts related to research design, measurement, introductory data analysis (incl. data visualization and descriptive statistics). We will then transition to multiple regression and the estimation of statistical uncertainty. The second semester starts with a more thorough coverage of multiple regression analysis. Next, the course will introduce more advanced statistical methods and methods of causal inference, for example, difference-in-differences estimation and regression discontinuity designs. The course consists of both lectures and applied exercises, in which we will actively work on implementing the methods covered in lectures. 

Please note: This course uses an applied approach and thus we will use software (R) to work with data throughout the whole course and in the examination. Beyond the software examples in the applied textbooks, students will receive a refresher on the software in the early stages of the course.

In relation to Nordic Nine

Throughout the course, students will develop important competencies in several of the Nordic Nine capabilities. Understanding and working with data is becoming ever more important in our changing world. In this class, students learn important skills to empirically evaluate causal statements and analyze quantitative data (NN2). Students will practice thinking critically and analytically to answer important societal challenges (NN6). Moreover, students work collaboratively in data analytics tasks, collectively teaching and learning from each other (NN8).

Learning Objectives

ECTS

7.5

International Business and Management

This course on International Business and Management is intended to provide an overview of the theories and principles of international business and management. International business and management has considerable impact on modern enterprises operating in an increasingly global economy. The aim of the course is to provide students with an extended coverage of alternative theories and perspectives on firms' internationalization, a thorough understanding of the key strategic and organizational issues confronting managers of multinational corporations, and theoretical concepts on foreign subsidiaries and headquarter-subsidiary relationships. It is designed to familiarize students with the institutional, cultural, and economic environments that affect international businesses and management, showing how managers develop different responses to external pressures. It consists of a combination of face-to-face and online teaching (blended learning).

In relation to Nordic Nine

International Business and Management (IBM) gives the students several transformative capabilities in accordance with the Nordic nine. IBM provides students with deep business knowledge about how firms can exploit and augment their domestic sources of value creation in the international context (N1). The course helps students to recognize the ambiguous role of multinational companies in society; They are actors that create as well as solve societal challenges (N3). Moreover, students are challenged to recognise ethical dilemmas faced by companies operating in different cultures and to develop leadership values to address them (N5). IBM offers theories and concepts which applications allow for the creation of value using globally distributed knowledge and connections to the advantage of localized problem solving (N9). 

Learning Objectives

ECTS

7.5

Business and Global Governance

The course gives students factual and theoretical knowledge of selected cases of business challeges in a broader macroeconomic and global context, covering  business strategies developed in light of dominant megatrends and the policycrisis, as well as international business regulation. The theoretical approaches are discussed and compared based on their inherent theoretical strengths and weaknesses as well as their practical relevance. 

The specific content and structure is presented in the course plan on Canvas. The course provides a multifaceted understanding of the role of business in global governance from both a business and a societal perspective.

In relation to Nordic Nine

NN1: You have deep business knowledge placed in a broad context. For BGG this is done through focus on business in the broad context of global trade, global value chains, global security conflicts or global financial networks.

NN3: You recognize humanity's challenges and have the entrepreneurial knowledge to resolve them. For BGG this is done through looking at energy shocks, inequality, war, stagflation, supply shocks, climate change. These are some of the mega­challenges that we deal with and try to imagine solutions to using creativity and evidence.

NN4: You are competitive in business and compassionate in society. For BGG this means that there are no societies based just on competitiveness, so we look at labor, inequality, climate change disruptions.

NN7: You produce prosperity and protect the prosperity for the next generation. For BGG this means that prosperity is impossible without peace, good governance, stable micro-finance and a livable habitat. How do we get to secure those?

Learning Objectives

ECTS

7.5

Research Design and Qualitative Methods (7.5 ECTS)

Introduction to Research Design and Qualitative Methods

The objective of this course is to provide students with an understanding of how to formulate, conduct, analyze and report qualitative research in the social sciences. The course further discusses how to assess the quality of research and how to approach ethical questions concerning qualitative research. There are three main components to the course:

1. Philoshophy of science section introduces the students to the most essential key concepts and positions in philosophy of science and strengthens their epistemological and ontological awareness.

2. Research design section helps the students understand the link between research questions, theoretical direction and empirical material, by focusing on cross-sectional, temporal, single and multiple case study designs.

3. Data collection and analysis section develops key skills in the collection and analysis of qualitative data by covering diverse techniques, such as qualitative interviewing, focus groups, text/document analysis and observation.

The course uses blended learning in order to maximize opportunities for both flexible learning and classroom interaction. Whereas the online elements of the course are directed towards content, much of the interactive elements incorporate the direct classroom application of skills, especially with regard to qualitative data collection and analysis. In line with the Nordic Nine principles, the course seeks to substantially develop learners' curiosity and analytic skills when working with different forms of qualitative data. Nordic Nine 2: "You are analytical with data and curious about ambiguity". Given the requirements from the Ministry on basic philosophy of science content there will also need to an objective that student comprehend the basic concepts, terms, and positions around issues of ontology and epistemology. Given the emphasis on research design the students would be required to produce a research design that is able to link a research question to qualitative methods and empirical data

Learning objectives

- Comprehend, identify and evaluate the basic concepts, terms, and positions around issues of ontology and epistemology.

- Assess the strengths and limitations of different qualitative methods when applied to a given research problem.

- Apply qualitative methods to a research problem and account for the relationship between theory, method, data collection, and analysis by producing a research design that is able to link a research question to qualitative methods and empirical data.

- Demonstrate applied skills and apply methodologically informed analyses to a research question in the field of international business and politics.

- Critically reflect on how to analyze and report qualitative research and assess its validity and reliability.

ECTS

7.5

Business Strategy and SDGs (7.5 ECTS)

Introduction to Business Strategy and SDGs

This course will provide students a detailed introduction to core theories and principles in business strategy, strategic leadership and strategic decision making, in the context of the United Nation’s Sustainable Development Goals (SDGs). Achieving the SDGs has been viewed as the key challenge for the new decade, and there has been an increasing pressure on firms and their executives to contribute to the advancement of the SDGs. The course is designed to explore how firm executives can align their business strategy with the SDGs and potential challenges with it. The goal of this course is to provide

1) a framework for understanding the main elements of a business strategy

2) a thorough understanding of strategic leadership and fundamental managerial decision-making concepts and

3) knowledge and insights into contextual factors, i.e. the co-evolution of business strategy and institutional framework in a time of transition.

Furthermore, the course will open for critical discussion and reflection on the role and commitment of different types of organizations and the SDGs and introduce approaches such as transformative innovation and directionality/mission economy.

Learning objectives

- Identify, explain, and discuss the key theories, models and concepts of business strategy, strategic leadership and strategic decision making, and apply them to the advancement of the SDGs

- Ability to reflect and discuss multilevel perspectives on the role of firms and managers for the humanity’s grand challenges and apply knowledge from business strategy and strategy leadership to help resolve them

- Analyze business case studies applying relevant concepts and theories of business strategy, strategic leadership and strategic decision making

- Discuss and critically reflect on the interdependencies of business and society in addressing global challenges such as the SDGs

ECTS

7.5

Research Design and Quantitative Methods continued (7.5)

The course Research Design and Quantitative Methods is taught on the 3rd and 4th semester. See the course description under the 3rd semester.