**Disclaimer**

This syllabus is to be used as a guideline only. The information provided is a summary of topics to be covered in the class.
Information contained in this document such as assignments, grading scales, due dates, office hours, required books and materials may be from
a previous semester and are subject to change. Please refer to your instructor for the most recent version of the syllabus.

**Disclaimer**
This syllabus is to be used as a guideline only. The information provided is a summary of topics to be covered in the class.
Information contained in this document such as assignments, grading scales, due dates, office hours, required books and materials
are subject to change. The instructor will distribute the most recent version of the syllabus at the beginning of semester.

The Modern Global Economy, Dollars and Sense

IAL 505

Contact Information
Professors: Cathy Novelli and Bill Heidt
Email: cnovelli@mac.com; billheidt44@gmail.com
Office Location: The McCain Institute, 1800 I Street NW, Washington, D.C. 20006
Office Hours: Upon request.

Course Overview

Students enrolled in “The Modern Global Economy, Dollars and Sense” will come away with an
understanding of the theoretical underpinnings of key elements of the international economic
system broadly construed as well as their practical application in business and government. This
knowledge will be directly relevant to students working in the public policy field, in areas such
as the foreign service, nonprofit community or the private sector.

Instruction will be through classroom lectures, guest speakers and group and individual
projects. Students will have an opportunity to participate in experiential learning through
“hands-on” activities that simulate decision-making on issues facing policy makers and business
executives. Leadership case studies and other “character-driven leadership” course content will
prepare the students for success in their chosen career field.

Building blocks of learning will include:

• International trade from the policymaker and business perspectives
• International finance, including financing for development
• Sustainable development, green economic development and global energy markets
• The role of innovation in economic growth in the U.S. and other countries
• The new digital marketplace, privacy, intellectual property rights and cyber security
• Successful negotiation practices and cross-cultural business communication
• Character-driven leadership in economic diplomacy and international business

A basic understanding of macro and microeconomics and political economics prior to entry in
the class is strongly encouraged.

Course Structure, Materials, and Credits

The course will meet weekly and cover the course material through lectures by the professors,
guest speakers from governments and the private sector, group projects and negotiations, and a
final, individual project. A high priority will be placed on collaborative learning, team building
and critical thinking. This is a 3-credit course.

[Required Book Purchases

• International Business: Competing in the Global Marketplace, 12 edition by Charles W. th

C. Hill and C. Tomas Hult. McGraw Hill Publishers.

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**Disclaimer**
This syllabus is to be used as a guideline only. The information provided is a summary of topics to be covered in the class.
Information contained in this document such as assignments, grading scales, due dates, office hours, required books and materials
are subject to change. The instructor will distribute the most recent version of the syllabus at the beginning of semester.

• Discover Your True North, by Bill George, 2015.]

Learning Outcomes

Upon successful completion of IAL 504, students will be more prepared to begin careers in
business, government, non-governmental organizations or academia as thoughtful, creative and
future-oriented policy makers, analysts and project managers, with an understanding of the
importance of good leadership practices.

The graduates will be able to:

• Analyze and communicate major global economic, business and environmental issues
and trends.
• Develop creative economic policies and business strategies aimed at solving real world
problems.
• Convey their ideas succinctly and persuasively in verbal and written form.
• Negotiate effectively in group settings, define goals and measure success.
• Articulate principles of value-driven leadership and support peers and future supervisors
to enhance their organization’s leadership environment.

Assignments and Grading

Students will be graded on a combination of group and individual projects and papers as well as
their participation in class. The assignments are designed to develop the professional written and
oral communication skills needed for success in the international affairs profession. Graded
assignments will include:
Week 3 -- Small Group Presentation and Paper (15% of grade): “Where oh Where Should
I Locate?” Small groups of students will analyze key elements of business making and
recommend where a company should locate a new manufacturing plant.
Week 6 -- Small Group Presentation and Paper (20% of grade): Groups will analyze a
developing country’s domestic policy mix and access to international capital markets and will
present a financing plan for an assigned infrastructure project.
Week 9 – Group Negotiation: Privacy and Data Flows (20% of grade): Students will
examine issues surrounding data privacy and data flows in the digital economy and represent the
viewpoints of the technology community, NGO community and legislature in a negotiation of a
privacy regime.

Weeks 14-15 -- Individual Policy Paper and Oral Presentation (30% of grade): Drawing on
materials and concepts presented in the class, students will analyze the current situation in an
assigned developing country and recommend how the government should spend a $5 billion
concessional loan from an international development bank in order to make the greatest impact
on the country’s development and competitiveness.

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**Disclaimer**
This syllabus is to be used as a guideline only. The information provided is a summary of topics to be covered in the class.
Information contained in this document such as assignments, grading scales, due dates, office hours, required books and materials
are subject to change. The instructor will distribute the most recent version of the syllabus at the beginning of semester.

Class participation (15% of grade) -- The professors believe an active and engaged class is
critical for creating a positive learning environment.
All assignments should be submitted 48 hours before class time online on Canvas. Letter grades
are based on ASU grading policies. (A+, A, A-, B+, B, B-, C+, C, C-, D, or E) and are awarded
upon completion of the course. Grades are based on the following point calculations:
A+ 97-100

A 94-96

A- 91-93

B+ 88-90

B 85-87

B- 82-84

C+ 79-81

C 76-78

D 71-75

E 70 and below

For more information on general grading policies, please see https://students.asu.edu/grades

Due dates/times - Assignments must be handed in on time using the dates and times indicated on
each assignment.
Late Assignments – Extensions of assignment deadlines must be coordinated with the professor
in advance. Unexcused late assignments will be reduced one letter grade per day late.

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**Disclaimer**
This syllabus is to be used as a guideline only. The information provided is a summary of topics to be covered in the class.
Information contained in this document such as assignments, grading scales, due dates, office hours, required books and materials
are subject to change. The instructor will distribute the most recent version of the syllabus at the beginning of semester.

Weekly Themes, Topics and Required/Recommended Readings

All readings should be done prior to the assigned class period. Students are expected to
participate fully and constructively in class discussions and activities.

I. The Changing World of Global Trade

Week 1 – The Rules of the International Trading System

Objectives
• Overview of the key principles of the WTO
• Discuss how bilateral and plurilateral Agreements build on WTO principles
• What are the shortfalls of the system that has been in place since the 1940s?
• Examine the recent unilateral approaches to trade, including imposition of tariffs, quotas,
their justification and effects on the trading system.
• Organize for small group activity in Week 3.

Readings
• TBD

Week 2 – Business and Trade

Objectives
• Look at the effects of both trading rules and unilateral measures on the business supply
chain
• Examine the multilateral rules on Intellectual Property, how those rules are implemented
in selected countries and the practical effects of their implementation on businesses
• How are services businesses connected to the multilateral system?

Readings
• TBD

Guest Speaker
• Think Tank trade expert TBD.

Week 3 – Character Driven Leadership in the Private Sector

Small Group Activity (Paper + Oral Presentation): “Where oh Where Should I Locate?”

• Experience and understand key elements of business decision making, such as costs,
treatment of employees, brand reputation, and effects on society/the environment.
• Students will be given a list of factors, including labor needs, automation possibilities,
logistics, financing, tariffs, treatment of workers, environmental protection rules, costs,

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**Disclaimer**
This syllabus is to be used as a guideline only. The information provided is a summary of topics to be covered in the class.
Information contained in this document such as assignments, grading scales, due dates, office hours, required books and materials
are subject to change. The instructor will distribute the most recent version of the syllabus at the beginning of semester.

brand reputation and make a recommendation on where a specific business should locate
its manufacturing.
Readings
• Intel: Strategic Decisions in Locating a New Assembly and Test Plant (A), by Juan
Alcacer and Kerry Herman, Harvard Business School Case 713-406, September 2012.
(Revised December 2013.)
• Other readings TBD.

II. The Changing Nature of International Capital

Week 4 – The International Financial Institutions and Other Sources of Official Finance

Objectives
• Analyze the governance and changing roles of the International Monetary Fund, World
Bank, regional development banks, export credit agencies and other sources of official
finance.
• Review case studies of successful official financing programs.
• Discuss new institutions on the official finance scene including sovereign wealth funds,
the Asia Infrastructure Investment Bank and the Belt and Road Initiative (BRI).
• Organize for role play exercise in Week 6.

Readings
• TBD

Guest Speaker
• U.S. Government official or foreign delegate to the IMF/World Bank Annual Meetings.

Week 5 – Private Capital Flows

• Overview of private international capital flows including foreign direct investment,

portfolio investment, remittances, venture capital and corporate philanthropy.
• Discuss how recent crises such as the global financial crisis and the Covid-19 pandemic
have affected private international capital flows.
• Understand governance issues related to private capital flows such as money laundering
and terrorist finance. How do governments address these issues?

Readings
• TBD

Guest Speaker
• Venture capitalist or investment banker.

Week 6 – Financing for Development: The Developing Country Perspective

Objectives

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**Disclaimer**
This syllabus is to be used as a guideline only. The information provided is a summary of topics to be covered in the class.
Information contained in this document such as assignments, grading scales, due dates, office hours, required books and materials
are subject to change. The instructor will distribute the most recent version of the syllabus at the beginning of semester.

• Discuss policies that have led to rapid economic growth and financial sector development
in developing countries.
• Review recent debt crises in developing countries and the policy lessons learned from
them.
• Evaluate case studies of countries that have used, or failed to use, development finance
wisely. What are the implications for BRI member countries?

Readings
• TBD

Small Group Role Play Activity

• The class will split into groups of 3-4 students each. Each group will be assigned a
proposed social or economic infrastructure project in a developing country.
• Students will review the country’s domestic policies, the development of its financial
sector, and the country’s recent history with official and private financing sources.
• Acting as financial advisors to their country, each group will present a financing plan for
the assigned infrastructure project.

III. Fostering National (and Global) Innovation

Week 7 – National Innovation Systems

Objectives
• Review the relationship between innovation, productivity growth, competitiveness, and
per capita GDP growth. How is innovation measured?
• Understand the key elements of innovation policy in the United States and other Western
countries and compare them to China’s approach.
• Discuss cross border innovation and the extent to which it strengthens, or weakens,
America’s competitiveness.
• Compare case studies of particularly innovative countries or regions, such as Silicon
Valley and Shenzhen, China.
• Organize for group negotiation in Week 9.

Readings
• Innovation Economics: The Race for Global Advantage, by Robert D. Atkinson and
Stephen J. Ezell, Yale University Press, chapters 5-7.
• The Competitive Advantage of Nations, Michael Porter, Harvard Business Review, April
1990, Volume 68 pp. 73-93.
• Clusters and the New Economics of Competition, by Michael Porter, Harvard Business
Review, November-December 1998.
https://hbr.org/1998/11/clusters-and-the-new-economics-of-competition
• Kenya’s iHub Enters a New Chapter, by Toby Shapshak, Forbes, March 11, 2016.
https://www.forbes.com/sites/tobyshapshak/2016/03/11/kenyas-ihub-enters-a-new-
chapter/#7e31a2334f6a

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**Disclaimer**
This syllabus is to be used as a guideline only. The information provided is a summary of topics to be covered in the class.
Information contained in this document such as assignments, grading scales, due dates, office hours, required books and materials
are subject to change. The instructor will distribute the most recent version of the syllabus at the beginning of semester.

• A Look into Chile’s innovative startup government, by Conrad Egusa and Victoria
O'Shee, techcrunch.com, October 16, 2016. https://techcrunch.com/2016/10/16/a-look-
into-chiles-innovative-startup-government/

Guest Speaker
• Innovation policy expert.

Week 8 – The Digital Economy

Objectives
• Examine the main types of intellectual property and their links with innovation.
• Review national and regional privacy regimes. Compare different systems for protecting
individual privacy, such as EU GDPR, OECD Guidelines, US system, including
California.
• Analyze the intersection of national security and technology.
• Discuss the Committee on Foreign Investment in the United States (CFIUS) case dealing
with Qualcom vs. Broadcom.

Readings
• From Gutenberg to Google, by Tom Wheeler, Brooking Institution Press, 2019, Parts III
and IV.
• Fundamentals of Intellectual Property Law, by Stephen McJohn and Lorie Graham,
American Bar Association, 2015. Readings will be assigned from the following
selections:

Ø Copyrights: pages 2; 60-65

Ø Patents: pages 111-116; 151-166; 181-192
Ø Trademarks: pages 205-221
Ø Trade Secrets: pages 259-269; 276
Ø International Intellectual Property: pages 295-311
Ø Indigenous People and IP: Chapter 21
Ø Internet and IP: Chapter 22
Week 9 – Group Negotiation -- Privacy and Data Flows

Small Group Role Play (Paper+Oral Presentation+Negotiation):

• Students will examine the major issues surrounding data privacy and data flows and how
industry, the government and the advocacy community are responding?
• Students will represent the viewpoints of the technology community; NGO community
and legislature and negotiate a solution that takes these viewpoints/equities into account.

Readings

OECD Privacy Framework:

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**Disclaimer**
This syllabus is to be used as a guideline only. The information provided is a summary of topics to be covered in the class.
Information contained in this document such as assignments, grading scales, due dates, office hours, required books and materials
are subject to change. The instructor will distribute the most recent version of the syllabus at the beginning of semester.

• http://www.oecd.org/sti/ieconomy/oecd_privacy_framework.pdf
APEC Privacy Framework:
• https://www.apec.org/Publications/2005/12/APEC-Privacy-Framework

EU General Data Protection Regulation (GDPR):

• https://www.techrepublic.com/article/the-eu-general-data-protection-regulation-gdpr-the-
smart-persons-guide/
• https://ec.europa.eu/commission/sites/beta-political/files/data-protection-factsheet-
business-7-steps_en.pdf
California Consumer Privacy Act:
• https://www.dataprivacymonitor.com/ccpa/the-california-consumer-privacy-act-
frequently-asked-questions/
• http://www.aaf.org/_PDF/AAF%20Website%20Content/909_SelfRegulation/Regulatory/
2018-07-31-CA_ConsumerPrivacyAct_Summary.pdf

IV. Responding to Global Challenges

Week 10 – The Geoeconomics of Global Energy Markets

Objectives
• Overview of global energy markets – including renewable energy sources – and their
geopolitical and geoeconomic implications.
• Review the role of international energy organizations and the governance of global
energy markets. Are the Green Fund and other climate related programs having a
significant impact?
• Discuss the implications of recent developments in energy markets, including the growth
of American shale oil production, the increase in renewables, the impact of the Covid-19
pandemic and the current role of OPEC.

Readings
• TBD

Guest Speaker
• Government energy policy maker or private sector energy executive.

Week 11 – The Environment

Objectives

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**Disclaimer**
This syllabus is to be used as a guideline only. The information provided is a summary of topics to be covered in the class.
Information contained in this document such as assignments, grading scales, due dates, office hours, required books and materials
are subject to change. The instructor will distribute the most recent version of the syllabus at the beginning of semester.

• Examine key multilateral agreements that affect the environment; eg., the Paris
Agreement (climate); Project REDD (illegal logging); Port State Measures Agreement
(illegal fishing)
• Understand the impact of these agreements on the environment and economic growth,
including in the developing world
• Discuss the impact on and opportunities for businesses

Readings
• Review “Intended Nationally Determined Contributions” of key countries submitted
under the United Nations Framework Convention on Climate Change (UNFCC)
https://www4.unfccc.int/sites/submissions/indc/Submission%20Pages/submissions.aspx

Guest Speaker
• Expert from climate community

Week 12 – Transnational Health Issues

Objectives
• Review the role of the World Health Organization and member countries’ responsibilities
in responding to pandemics.
• Analyze the impact of international cooperation in recent health crises, including the
SARS, MERS and Ebola epidemics.
• Examine the global health and economic policy response to the Covid-19 pandemic and
the likely road ahead
• Examine the responses of U.S. business to the Covid-19 pandemic from the perspective
of character driven leadership.

Readings
• TBD

Guest Speaker
• Manager of SME affected by the Covid-19 pandemic and/or U.S. Government official
with experience dealing with global health crises.

Week 13 –Guest Speaker on Character Driven Leadership

Objectives
• Hear from a business and government leader who has grappled with serious ethical
issues.
• Discuss the principles of value-driven leadership and how they have been put into
practice.

Readings
• Discover Your True North, by Bill George, 2015.

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**Disclaimer**
This syllabus is to be used as a guideline only. The information provided is a summary of topics to be covered in the class.
Information contained in this document such as assignments, grading scales, due dates, office hours, required books and materials
are subject to change. The instructor will distribute the most recent version of the syllabus at the beginning of semester.

Guest Speakers
• Character driven leader(s) TBD.

Weeks 14 & 15 – Final Presentations and Course Conclusion

Student Individual Policy Paper and Oral Presentation:

• You are the Economy Minister of one of the developing countries from the list
below. Your country has just been awarded a $5 billion, low interest loan from an
international development bank.
• Drawing on materials and concepts presented in the class, analyze the current situation in
your country to determine how you would best spend the $5 billion to make the greatest
impact on your country’s development and competitiveness.
• What current policies would need to change in your country to make your investment
successful? What new policies would your country need to enact? What other
international resources would you seek out to support the loan? How would you measure
success?

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