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Course Information

Language English
Point 7,5 ECTS (225 SAT)
Type Elective
Level Bachelor
Duration One Semester
Course Period Spring
Time Table Please see course schedule at e-Campus
Study Board
Study Board for Asian Study Programme
Course Coordinator
  • Anthony D'Costa - Department of International Economics and Management
Secretary Marianne Christensen - mc.int@cbs.dk
Main Category of the Course
  • Globalization, International Business, markets and studies

Taught under Open University-Taught under open university.
Last updated on 29 maj 2012
Learning Objectives
The course will prepare students to understand:
1. The role of institutions for economic development in Asian countries
2. The institutional context of why these countries are moving toward market economies
3. What are some of the barriers to successful global participation?
4. How Asian businesses compete in the global economy?
5. What are the risks and opportunities in Asian and other emerging markets?
The course gives an overview of recent political, institutional and economic developments in selected Asian emerging markets. The focus is on the interaction between politics, economics, and society, with an emphasis on the relation between business and their relationship to society.
All undergraduates, with some basic economics background preferred.
Mini project, 10 pages per student
Exam Period May/June

The project involves analyzing one of the issues related to Asian emerging markets. The specific
themes will be based on the various topics and theoretical frameworks presented in the course
and applying them to the experiences of selected Asian markets. The course-readings
are important introductions to the subject of institutions in emerging markets and should be complemented with specialized literature on the country-cases. There will be team projects. However, individual project will be accepted as well with equivalent amount of work as the team. Each project team will comprise 2 students, with 10 pages per student. Each student specifies which 10 pages he/she is responsible for and this is used for individual grading.
Course Content

The course provides students with knowledge of the key economic, political, and social dynamics in emerging markets with a particular focus on Asia. The emphasis is on large Asian economies such as India, China, and other smaller economies such as Malaysia. Comparisons are often made with other BRIC countries such as Brazil and Eastern European countries. A broader comparison of Asian countries made because of the historical similarity of late industrialization experience, and the general challenges faced by Asian and non-Asian countries in transitioning to market economies. Students are at liberty to choose any emerging market and a theme for their projects. However, ASP students must choose an Asian country for deeper analysis. The course adopts an interdisciplinary framework to focus on institutions, how they have changed, how they contribute to economic growth and development, and how they continue to act as barriers to change.

Teaching Methods
The course is lecture-based and complemented by class discussions, especially country-cases related to the themes in the outline. The course leads towards a project prepared by student teams on an emerging market of their choice. Presentations, literature, data and case materials are accessible through SiteScape.

Branstetter L. and N. Lardy (2006): China’s embrace of globalization, NBER working paper series no. 12373 pp 3-56

D’Costa, A.P. 2005, State, Embourgeoisment, and Market Development in India, in D’Costa, A.P. 2005, The Long March to Capitalism: Embougeoisment, Internationalization, and Industrial Transformation in India, Basingstoke Houndmills: Palgrave Macmillan, pp. 46-69.

Desai, M. (2003): India and China – an essay in comparative political economy, Centre for the

Study of Global Governance, London School of Economics, 20 p.

Deutsche Bank Research: (2006): Brazil: O pais do futuro? – Economic scenarios for the next 15 years. pp 1-10. www.dbresearch.de

Deutsche Bank Research: (2005): India rising: A medium-term perspective – India Special, pp

3-15. www.dbresearch.de

Dore, R. (2002) Debate: Stock market capitalism vs. welfare capitalism, New Political Economy, Vol. 7, No. 1, 115-121

EBRD: Transition report 2010, London,

Evans, P. 1997 “The Eclipse of the State? Reflections on Stateness in an Era of Globalization,” World Politics, Vol. 50, No. 1, pp. 62-87.

Hall, P.A. and Soskice, D. (2001) “An Introduction to Varieties of Capitalism” in Hall, P.A. and Soskice, D. (eds.) Varieties of Capitalism: The Institutional Foundation of Comparative Advantage, Oxford: Oxford University Press (pp.1-68).


IMF (2005) Building Institutions, World Economic Outlook, September 3, Chapter 3, Building Institutions, pp. 125-153, www.imf.com

McMillan J. and B. Naughton (1992): How to reform a planned economy: les­sons from China, Oxford Review of Economic Policy, vol 8(1) pp 130-143

Meyer, Klaus and Camilla Jensen (2005): ‘Foreign direct investment and government policy in Central and Eastern Europe’, in (ed. Grosse) International Business and government Relations in the 21stCentury, Cambridge University Press, pp 119-145

Mukherji, J. “The Indian Economy” in Ayres, Alyssa and Oldenburg, Philip (eds.) 2002, India Briefing: Quickening the Pace of Change, Armonk, NY: M.E. Sharpe. (pp. 55-90).

Mygind N. (2008): Transition from plan to market – a PIE analysis, CBS, (25 pages) January 2008. http://openarchive.cbs.dk/cbsweb/handle/10398/7983

Zygind, N. (2007): The PIE Model: Politics, Institutions, Economy, A Simple Model for Analysis of the Business Environment, CEES/CBS (26 pages), http://openarchive.cbs.dk/cbsweb/handle/10398/7062

OECD: 2003: The role of FDI in China’s economic development, ch. 2, in 56 Investment Policy Reviews, China, Progress and reform challenges, pp 29

Poon, J.P.H. and Thompson, E.R. (2004), Convergence or Differentiation: American and Japanese Corporations in the Asia-Pacific, Geoforum, 35, 111-25.

UNCTAD (2010): World Investment Report.

Whitley, R. (1998) “Internationalization and Varieties of Capitalism: The Limited Effects of Cross-national Coordination of Economics Activities on the Nature of Business Systems,” Review of International Political Economy, 5 (3), 445-481.