B030607 - GLOBAL ECONOMY - MOD.1 (SINGLE MODLE)

Italian

The course rflets on the different models of capitalism, starting with the debate on "Varieties of captalism". It will deal with the relationships between historocal dinension, juridical and economic cutures, istitutions, financial markets and ownership structures in today's world economy

Varieties of capitalism. The institional foundations of comparative advantages, edited by Peter A. Hall and David Soskice, Oxford, 2001; Beyond varieties of capitalism, edited by Bob Hancké, Martin Rhodes and Mark Thatcher, Oxford 2008;Debating varietes of capitalism, eduted by Bob Hancké, Oxford, 2009

Students will be able to understand the historical development of the different models of capitalism existing today in their economic, political-institutional, legal, socio-cultural and financial context. They will know the recent literature on the models of capitalism and will be able to reflect on the current characteristics of the economic systems facing each other in global competition.

Knowledge of economic history, business economics, economcs of financial investors, corporate governance

Lectures with the support of case studies and general discussions; additional teaching materials will be offered to students to frame the themes of the different case studies

Studnets' presentation can be envisageddepending on the number of participants (30% of the final grade)

For attending students: written exam consisting of the answers to ten multiple choice questions (20% of the final grade) and three questions chosen from four on the topics of the course (50% of the final grade).

Non-attending students: written exam with four open questions based on two of the three volumes chosen as the reference texts

1) General introduction about the concept of varieties of capitalism
1.2) the different concept of business goals and performance in different systems
1.3) the varieties of capitalism and varieties of ownership structures
2) The liberal market economies: the Anglo-Saxon model
2.1) the long-term evolution of the system
2.2) the role of the state
2.3) regulation vs. de-regulation
2.4) the financial markets
2.5) the industrial relations
3) The coordinated market economies in continental Europe
3.1) historical background of the differences between Germany, France, Italy, and Spain
3.2) business models and ownership structure
3.2) the role of the state in the process of coordination of the market exchange
3.3) the role of capital markets
3.3) the industrial relations
4) The Latin-American model: historical origins and recent evolution
4.1) Family and business groups - differences and similarities with USA and Europe
4.2) State and crony capitalism
5) Varieties of capitalism in Asian business systems
5.1) the long-term evolution of the Japanese model
5.2) the national business cultures, developmental state and the Asian Tigers
5.3) the choice for the sectors for the global competition
6) The authoritarian capitalism: Russia and China between differences and similarities
6.1) the contradictory and incomplete return to the market economy
6.2) the Russian energy economy and the partial de-industrialization process
6.3) the role of the State owned companies in China
6.4) the rise and relative decline of the private big business
7) Varieties of capitalism and institutional investors: origins and taxonomy
7.1) the role of institutional investors in shaping capital markets and ownership structure
7.2) Values and interests represented by institutional investors
7.3) the sovereign investment funds
8) General conclusions