• Apply the concepts and theories introduced throughout the course to the empirical field of state-business relations, focusing on socio-political and economic context and firm strategies;
• Identify, analyse and assess economic, political, institutional, and structural causes and consequences of transition in a comparative perspective.
• Apply empirical data and analyse evidence concerning political and economic developments, as well as, firm strategies introduced in the course.
• Make a clear, coherent, and well-reasoned analysis of issues in political and economic transition based upon methods in the social sciences and a comprehensive understanding of the theories and approaches introduced in the course.

How do firms behave in a complex geopolitical context? What kind of challenges and opportunities are they facing in a host market that is in a process of transition from a planned economy to market economy, where state is expected to limit its role in economy and business dealings? What are the implications of operating in countries that are either in an open war, such as Ukraine or are struggling with unresolved conflict areas, such as, Moldova, all three South Caucasus states? what are the potential for forming a competitive firm in countries that have oligarch-dominated economies, rich natural resources, and restrictive formal and informal institutions? What can be the impacts of economic sanctions on companies and state-business relations in countries, like Russia? European companies are expected to leave up to the rules of compliance and also are help up against ethical responsibilities from issues on environmental impact to human rights and labour rights. Meanwhile, European companies are also capable to bring positive impact in domestic markets where such issues and respective institutional and legislative basis are legging behind. What has been the firm strategies in post-Communist countries when faced with the challenges of ethical issues? 

Selected countries and case companies will be discussed through the lectures and exercise classes to unpack prevailing strategies and considerations for firms in their decision-making when their important markets get embroiled in a war or social upheaval. Discussion will focus on factors and complex set of actors that shape markets and the institutional context within which firms operation in Eurasia and Eastern Europe. Typologies of state-business relations will be mapped reflecting policy and institutional changes in transition countries over the period of three decades. The issues of transnational policy arena formation and the roles of transitional actors, such as the International Monetary Institutions, World Trade Organization, and the European Union, in policy making will be addressed. Issues of state capacity, ‘dependent capitalism’ emergence, the role of the natural endowment in political and economic elite formation, discussion of political risks, firm competitiveness and overcoming the issue of ‘liability of foreignness’, ethical challenges, increased inequality, cross-border trade and foreign direct investment, as well as, Free Trade Zones, policy change and institutional formation along with lobbyism and industrial relations will be addressed throughout the course.
Within the frame of this course, transition countries encompass ‘satellite states’ such as ‘Visegrad Countries’ (i.e. post-Communist Central & Eastern Europe) and post-Soviet Eurasia (i.e. the Baltics  states and members of the Commonwealth of Independent States). The geographic focus of this course provides a wide range of transition models and pathways along with varieties of capitalism and regime change across countries with population around 400 million. With the significant empirical material and cases, the regional focus of this course provides students with a natural laboratory for testing theories and concepts that combines International Business field along with Area Studies and Comparative Politics.

The course related closely to Nordic Nine goals and particularly to the following ones:

Nordic Nine #1 (You have deep business knowledge placed in a broad context),

Nordic Nine #2 (You are analytical with data and curious about ambiguity),

Nordic Nine # 5 (You understand ethical dilemmas and have the leadership values to overcome). them)

The course provides a list of mandatory and recommended readings below for each week. It will be expected that students will have to read and prepare on weekly basis the scholarly work indicated as ‘mandatory’, while the recommended reading is greatly encouraged to be also read, yet, it is not required or expected to be done prior the lectures by the students.