Government at all levels can significantly affect business through regulations, international relations, funding, or the myriad of political processes and people. The way your business interacts with government can make you a success or a failure.
Competitive markets are efficient only under certain assumptions. Governments differ in how (and if) they try to create an environment that meets those assumptions. During this course, you will gain an understanding of the factors that drive both businesses and the public to ask for government action, and most importantly, why these actions can vary by country. The overlap between the roles of business and those of government change over time and differ from place to place. The course will examine the cycles of business and government interaction, and evaluate the inputs and outcomes. For example, why does a meeting with an agency head seldom change regulations? What really influences regulatory agencies? Examples will demonstrate how business and governments interact to positively structure complicated problems and become partners for the benefit of all participants.
- Introduction to the roles of government in business
- Regulation 1: origins and examples
- Regulation 2: risk analysis and agencies. How bureaucracies work
- Risk perception and communication
- How and why business influences government
- Incorporating negative externalities
- Management of the commons
- Government and industry – Examples 1: banking regulation
- Government, business, and innovation
- Market power and information asymmetries
- Trade and government
- Government and industry – Examples 2: the chemical, oil, and pharmaceutical industries
- Government and corporate social responsibility (7/2013)
Lecture: 100min/wk and Recitation: 50min/wk