Syllabus

Title
1999 China and its Impact on the World Economy
Instructors
Dr. Manfred Reichl
Contact details
Please address all administrative issues to the jana.salot@wu.ac.at. Dr. Reichl can be reached via jana.salot@wu.ac.at (direct coordinates will be provided during the course)
  • Type
    PI
  • Weekly hours
    2
  • Language of instruction
    Englisch
Registration
09/22/21 to 09/27/21
Registration via LPIS
Notes to the course
Subject(s) Master Programs
Dates
Day Date Time Room
Wednesday 10/06/21 05:00 PM - 08:00 PM Online-Einheit
Monday 11/22/21 09:00 AM - 03:00 PM Online-Einheit
Tuesday 11/23/21 09:00 AM - 03:00 PM Online-Einheit
Wednesday 11/24/21 09:00 AM - 03:00 PM Online-Einheit
Thursday 11/25/21 09:00 AM - 03:00 PM Online-Einheit
Friday 11/26/21 09:00 AM - 01:00 PM Online-Einheit
Thursday 12/02/21 05:00 PM - 06:30 PM Online-Einheit

Contents

The seminar is limited to 30 attendees. There will be a waiting list, since our experience is that (i) at the beginning of the registration period, students are overbooking various seminars, with the consequence that these are fully booked after a few hours; (ii) appr. 20% of the students usually cancel their registration for the course during the following days. So if the course is already fully booked, please contact jana.salot@wu.ac.at for the waiting list.


This course – a “spin-off” of the seminar “Scenarios of globalization”, held by Dr. Reichl between 2008 and 2019 – is a consequence of the ever increasing importance of China for the global economy. The successful mix of teaching and learning methods of this globalization course will be continued and transferred to the online platform Zoom.

 

Course description

Since China started to implement its market-oriented economic model in the 1980ies and early 1990ies, China has become the second biggest economy after the US, regaining its leading position, which it had held until the early 19th century. During the last two decades, China has gained – propelled by its special political model – an ever increasing influence on the global economy, cumulating in the “trade war” between the US and China during the last 2 years. It has rapidly developed from a low-cost manufacturing location for high-volume consumer products and from a vast market for Western investment goods in the 1990ies to a producer of intelligent and increasingly competitive, technologically leading investment and consumer goods.


China has not only started to compete with established Western companies in their home turfs, but has increasingly been active as acquirer of Western technologies and assets. Its demand and sourcing strategies of raw materials have increasingly influenced global production volumes and prices in many economic sectors. Today, every globally active company is influenced by China’s economic strategies and nearly no globally active company can risk not to be present in China.


China’s huge reservoir of human labor and of (potential) consumers creates opportunities and challenges. For most countries and companies the basic questions is: What can be future models for a balanced world economy including China? What position should China have in the overall strategy of a company? How should companies proceed when optimizing their presence in China? What should they consider before expanding or restructuring their activities in China?

This highly interactive course will analyze and describe the past, present und possible future developments of China’s economic development and the impact it has and might have on other parts of the world (especially on Europe, the US and Africa/South America) as well as in various industries.

     

    Learning outcomes

    Aims

    China and its impact on the world economy is changing rapidly. Simple facts and numbers (except in history and geography) will most probably be outdated once the students leave university. Therefore, the course has to take a more sustainable approach in dealing with the dynamics within China, its demand and consumption, the strategies of its companies, its trade with other parts of the world, and not least the political developments impacting its economic activities. The course also is considering possible structural changes within the global economy due to the impact of China.


    Against these considerations, it is the aim of the course to give students an understanding of the structure of China’s economy with regard to different industries, different regions, its developments during the last decade, and its economic thinking. In addition, strategies, strengths and weaknesses of Chinese companies in various industries will be highlighted, as well as the topic “Being present and investing in China” for Western companies.

     

    Planned learning outcomes

    The course will provide an understanding of the economic background and attitude of Chinese society and politics, China’s recent economic structures, trade flows and trends, economic forces, as well as risks and opportunities for Western companies and investors.


    After participating in the course, students should be able:


    i) To understand the structure of China’s economy with regards to economic sectors, regions, social values, and the role of the state;
    ii) To judge Chinese companies, their strengths and weaknesses, and their global strategies;
    iii) To assess China’s potential for Western companies as well as approaches for investing and optimizing a company’s presence in China;
    iv) To understand the impact, which China and its companies are having and might have in the future on world markets.
     

     

    Attendance requirements

    Missing 6 (out of the 28) units will results in a negative evaluation

    Teaching/learning method(s)

    It is Dr. Reichl’s experience that participants benefit the most when they study, prepare and present specific subjects on their own or in small teams. Students highly appreciate the opportunity to work in a practical way (as later in companies) and to get experience in online presentation and communication. All this can be very well achieved also in online mode, as done and tested in summer semester 2020 and winter semester 2020.


    Since most information and data are available online, the real value-added of the course will be in discussing, connecting and interpreting information, data, and trends, which will be prepared and presented by students or Dr. Reichl. Consequently, the course will include around 15 short presentations by students on pre-defined subjects, like historic and recent developments, characteristics and role of state-owned companies, situation and trends in specific industries (e.g. in Agriculture, Consumer Goods, Energy, Automotive), or financial markets. In addition, there will be a mix of working types, like writing a pre-course assignment, participating in two blogging exercises, overview discussions, and discussions with one or two guest speaker(s), who will highlight his/their own experiences, views and interests.


    There will be a homepage available for the course on learn@wu, providing a platform for all material and learning work of students.

     

    Assessment

    Missing 6 (out of the 28) units will results in a negative evaluation. The grade for the course will be calculated based on the following criteria:


    i) Pre-course assignment (max. 15 points) – written
    Pick two articles of the reading list on learn@wu and express your opinion on (at least and maximal!) two DIN A4 pages (1 1/2 lines distance, character Arial, size 11). The header of each page has to contain the name of the participant and the titles of the articles commented. It is recommended to comment on articles on related subjects. Send the document with your opinion statement until noon of the first day of the course (i.e. March 16, noon) to the email address supplied after registration.

    -> Evaluation according to substance of opinion and clarity of expression


    ii) Contributions to the online bloggings (max. 13 points) – written, online
    As a “warm-up” to the main block, Dr. Reichl will name two subjects which should be discussed on the blogging facility of learn@wu. Students are expected to participate and feed in fresh thoughts.


    -> Engagement will be tracked


    iii) Engagement / verbal contributions in discussions during the course (max. 13 points) – oral
    Students are strongly encouraged to actively take part in the discussions and contribute their own opinions and experiences.


    -> Engagement will be tracked

    .
    iv) Teamwork and seminar presentations (max. 24 points) – oral
    Students are required to engage in teams to prepare homework jointly and to present the results in short presentations


    -> Engagement will be tracked and evaluated


    v) Written Exam (max. 35 points)

    in learn@wu online platform in strict sequencing mode


    On December 2, 2021, 5:00 pm, there will be a 90 minutes written exam with 4-5 multiple choice questions and 3-4 text questions about the contents of the course.
    Please address all administrative issues to the jana.salot@wu.ac.at. Dr. Reichl can be reached via jana.salot@wu.ac.at (direct coordinates will be provided during the course)

    Prerequisites for participation and waiting lists

    - Students should have studied/have experience with economics/business for at least 3 years

    - Students must have written an Opinion Statement (pre-course assignment) (in English language; 2 pages) on two of the articles in the folder “Reading material” on learn@wu (obligatory; registered students, who do not deliver the pre-course assignment until the first course on March 16 cannot be considered for participation. In exceptional cases, this deadline can be prolonged until March 22, 2021).

    Last edited: 2021-09-08



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