Finance in a Globalized World

The aim of this course is to shed light on the financial and economic aspects of current global developments, focusing in particular on the impact of the global financial crisis and on the consequences of an accelerated technological progress.  We will explore the meaning of a globalized, well-connected and technologically changing world and study its manifestation in financial markets, trade, and organizations. The impact of the forces of globalization and technology varies across countries and cultures; an issue we will also explore and discuss.

Course level
Master, PhD candidates and professionals from all disciplines
Session 2
11 January to 18 January 2020 
Coordinating lecturer                                     Professor Issy Drori
Other lecturers
Dr. Ronny Manos
Form(s) of instructionLectures, group work, individual work
Form(s) of assessmentParticipation and involvement, group work, individual assignments
ECTS2 credits
Contact hours30 contact hours and 26 self/group study hours
Tuition fee

€800 - non-VU students and staff

€500 - VU students and staff

This course is suitable for any students, citizen or international, working within Master’s and PhD programmes. This course is especially impactful for students who are interested in understanding how the world of finance is shaping our lives for the better and for the worse, and how globalization and technological advances accelerate these processes.  If you have doubts about your eligibility for the course, please contact us: graduatewinterschool@vu.nl.
No additional requirements are needed.
Two recent global phenomena have influenced the thinking and actions of policy makers, organizations, and society at large. One is the global financial crisis of 2008 which has shaken our faith in governments, central banks, regulators, and financial institutions. The second is the accelerating rate of technological advances that increase connectivity across countries, blur the boundaries between the physical and the virtual, and provide alternatives to traditional finance. Both of these phenomena have influenced many aspects of our lives and have consequently given rise to widespread debate concerning issues such as: inequality, fairness and financial inclusion, traditional versus alternative financial institutions, financial innovation and ills such as poverty, crime and corruption, global versus local interests, or the balance between free markets and adequate regulation.
 
The aim of this course is to shed light on the financial and economic aspects of current global developments, focusing in particular on the impact of the global financial crisis and on the consequences of an accelerated technological progress.  We will explore the meaning of a globalized, well-connected and technologically changing world and study its manifestation in financial markets, trade, and organizations. The impact of the forces of globalization and technology varies across countries and cultures; an issue we will also explore and discuss.

The course is built around five units, each devoted to a particular aspect of a modern, global, technology-oriented world, and its financial implications to individuals and firms.  Each unit includes: an overview of the topic; group or individual work on various contemporary aspects relating to that topic; group presentations.

The five units to be covered include the following:
(1) An overview of globalization and money;
(2) International cooperation and trade: The case of the international monetary system & the currency market;
(3) The impact of accelerated technological progress: The case of digital money and cashless economies;
(4) Financial crises: The case of the subprime mortgage crisis and the Great Recession; and
(5) The microfinance revolution.

This course will provide students with:
•    A variety of perspectives on current disputes relating to globalization.
•    Basic understanding of recent and historical developments in global financial markets and their socio-economic implications.
•    Tools to analyse processes of globalization and to appreciate their implications for society, organizations and institutions.

The course is based on articles, podcasts and videos/films:
•    Articles – academic peer-reviewed articles
•    Podcasts – mainly podcasts by the BBC such as selected episodes from Analysis, Global Business and The Inquiry
•    Films and videos – documentary films and video clips that deal with the various topics (e.g. the global financial crisis of 2008)

Issy Drori (PhD, UCLA) is Head of the Department of Organization Sciences and a chaired professor of Organization and Globalization at the Faculty of Social Science, the VU University, Amsterdam. He has held visiting professorships at the Faculty of Management, Tel Aviv University; Ross School of Business, University of Michigan; Simon Fraser University; Florida Atlantic University; Oxford University; Tsinghua University, Beijing; Hitotsubashi University, Tokyo; and University of Gottingen, Germany.  He has published ten books and numerous articles in journal such as Academy of Management Journal, American Sociological Review, Organization Science, Public Administration Review, Journal of Business Venturing and Organization Studies, among others. Professor  Drori is a member of the editorial board of Organization Studies.
 
Dr. Ronny Manos lectures in finance at the College of Management, Israel. Her PhD in Finance is from the Birmingham Business School, University of Birmingham.  She has taught at various institutions including Cranfield School of Management; Open University, Israel; the International Executive Program of the Zicklin School of Business in Singapore, Taiwan and Paris; Haifa University; and at the Technion, Israel.  She teaches a wide range of courses including corporate finance, financial management, investment theory and applications, quantitative tools for finance, international finance and small business finance.  Dr Manos's PhD thesis was on the topic of corporate finance in emerging markets and her recent research interests include such topics as corporate finance, corporate social responsibility and microfinance.