The course traces the evolution of economic ideas by examining the contributions of major economists and the different narrative forms through which economic thought has been articulated. The central question guiding this year’s exploration concerns value. In particular, we will examine the thought of Aristotle, the Scholastics, the Mercantilists, the Physiocrats, the classical economists, Karl Marx, the Marginalists, Alfred Marshall, and John Maynard Keynes, while also giving due attention to women’s contributions to the history of economic thought.
Alongside a close analysis of economic texts, considerable attention will be devoted to literary works. As empirical research has shown, economics is taught more effectively when it is integrated with other disciplines. This approach may prove especially fruitful when economics is studied alongside classic works of literature, which allow great writers to place their knowledge and insight at the service of understanding economic concepts and issues that are too often addressed solely at a theoretical level.
The theoretical, methodological, and institutional analysis of the different contributions to the development of economics, together with reflection on the various narrative forms used to construct economic discourse, will foster comparative reasoning and historical inquiry into questions that remain highly relevant today. By focusing on different theories of value, we will seek to develop the conceptual tools needed to address questions such as: What is economic value? When do economic activities create value, and when do they merely extract it? How is value distributed among the different participants in economic activity? In a society’s processes of value creation and valuation, how are interpersonal relationships, relationships with the environment, and responsibilities towards future generations taken into account?
Alongside a close analysis of economic texts, considerable attention will be devoted to literary works. As empirical research has shown, economics is taught more effectively when it is integrated with other disciplines. This approach may prove especially fruitful when economics is studied alongside classic works of literature, which allow great writers to place their knowledge and insight at the service of understanding economic concepts and issues that are too often addressed solely at a theoretical level.
The theoretical, methodological, and institutional analysis of the different contributions to the development of economics, together with reflection on the various narrative forms used to construct economic discourse, will foster comparative reasoning and historical inquiry into questions that remain highly relevant today. By focusing on different theories of value, we will seek to develop the conceptual tools needed to address questions such as: What is economic value? When do economic activities create value, and when do they merely extract it? How is value distributed among the different participants in economic activity? In a society’s processes of value creation and valuation, how are interpersonal relationships, relationships with the environment, and responsibilities towards future generations taken into account?
- Docente: FRANCESCA DAL DEGAN
The course, worth 12 ECTS credits, is structured into two parts. The first part is taught by Professor Elisa Giuliani (9 ECTS) and addresses the main topics of International Business through five areas: the global context, multinational enterprises’ advantages and resources, international rules and institutions, major contemporary challenges, and responsible business models. The remaining 3 ECTS are taught by Dr Verdiana Morreale and are dedicated to the workshop “Designing the Future: Imagining and Building Alternative Business Models”, in which students develop future scenarios and design alternative business models capable of addressing major social and environmental challenges.
Syllabus IMM – 9 ECTS (Prof. Giuliani)
PART I – CONTEXT
1. Global Trends in International Business
This topic introduces the evolution of international business and the rise of multinational enterprises (MNEs). Students examine global patterns of foreign direct investment (FDI), the emergence of multinational firms from developing economies, and the increasing interconnectedness of global production and investment networks.
2. International Contexts
This topic explores how national institutions, political systems, cultures, and levels of economic development shape international business. Students analyze how firms adapt their strategies to different institutional environments and how countries create opportunities and constraints for international activities.
PART II – ASSETS
3. Multinational Enterprises’ Competitive Advantages
This topic examines why firms internationalize and how MNEs develop competitive advantages across borders. It introduces key international business theories, including ownership, location, and internalization advantages, as well as entry modes and international business models.
4. Innovation as a Driver of Competitiveness and Technological Complexity
This topic investigates the role of innovation and technological capabilities in shaping international competitiveness. Students explore differences in countries’ technological specialization, productive capabilities, and the contribution of MNEs to national innovation systems, with particular attention to technological complexity and economic development.
5. Marketing
This topic introduces international marketing principles, focusing on how firms adapt products, brands, and communication strategies to different cultural and institutional contexts. Students examine the balance between global standardization and local adaptation.
6. Non-Market Strategies
This topic examines how firms influence their broader business environment through activities beyond traditional markets, including corporate political activity, lobbying, stakeholder engagement, corporate social responsibility, and reputation management.
PART III – RULES OF THE GAME
7. International Trade and Investment Agreements
This topic provides an overview of the institutions and agreements governing global trade and investment, including the World Trade Organization (WTO), trade agreements, investment treaties, and arbitration mechanisms. It highlights both opportunities and tensions in international economic governance.
8. International Law
This topic explores the legal frameworks governing MNEs and their limitations in addressing corporate misconduct. Students examine business and human rights, corporate accountability mechanisms, due diligence frameworks, and challenges in accessing justice.
PART IV – CONTEMPORARY BIG ISSUES
9. Multinational Enterprises and Environmental Depletion
This topic examines the environmental consequences of global production and consumption, including externalities, resource use, waste generation, and the challenges of allocating environmental costs within the global economy.
10. Organizational Wrongdoing in International Business
This topic analyzes why corporate misconduct occurs and how unethical or illegal practices can become embedded within organizational structures and decision-making processes. Students critically examine the institutional and organizational drivers of wrongdoing through theories and case studies.
11. Multinational Enterprises, Tax Avoidance and Economic Inequality
This topic investigates international tax planning strategies adopted by MNEs and their implications for governments and societies, focusing on taxation, tax havens, inequality, and shareholder value.
12. Extreme Wealth, Techno-Oligarchs and Democracy
This topic explores the concentration of technological, economic, and political power among large technology companies and entrepreneurs. Students analyze how digital platforms, surveillance technologies, and artificial intelligence are transforming democratic institutions and governance.
13. Critical Raw Materials and the Energy Transition
This topic examines the role of critical raw materials in enabling the energy transition, while addressing environmental and social challenges related to extraction, global supply chains, mining conflicts, and human rights.
PART V – GOOD MODELS
14. Responsible Business
This topic explores the evolution of corporate sustainability and responsible business practices, examining the distinction between substantive responsibility and symbolic practices such as greenwashing.
15. Hybrid Organizations, Benefit Corporations and Alternative Business Models
This topic introduces alternative organizational models that seek to balance economic, social, and environmental objectives, including benefit corporations, B Corporations, hybrid organizations, and innovative governance approaches aimed at creating long-term societal value.
Syllabus IMM – 3 ECTS (Dr Verdiana Morreale)
16. Designing the Future: Imagining and Building Alternative Business Models
This workshop-based module invites students to move beyond analyzing existing business models and actively design alternatives for the future. Starting from the idea that the future is shaped by human choices, innovation, and collective action, students critically examine major transformations affecting business and society, including climate change, geopolitical instability, technological disruption, demographic change, and resource constraints.
Through collaborative workshops and group projects, students develop future scenarios and innovative business models addressing contemporary social and environmental challenges. The module encourages reflection on the purpose of business, alternative forms of value creation, governance, ownership, production, and stakeholder relationships. Students develop creative, theoretically informed, and evidence-based proposals, assessing their feasibility, trade-offs, and contribution to more sustainable, inclusive, and resilient societies. Assessment is based on group work and the presentation of the proposed future business model.
Syllabus IMM – 9 ECTS (Prof. Giuliani)
PART I – CONTEXT
1. Global Trends in International Business
This topic introduces the evolution of international business and the rise of multinational enterprises (MNEs). Students examine global patterns of foreign direct investment (FDI), the emergence of multinational firms from developing economies, and the increasing interconnectedness of global production and investment networks.
2. International Contexts
This topic explores how national institutions, political systems, cultures, and levels of economic development shape international business. Students analyze how firms adapt their strategies to different institutional environments and how countries create opportunities and constraints for international activities.
PART II – ASSETS
3. Multinational Enterprises’ Competitive Advantages
This topic examines why firms internationalize and how MNEs develop competitive advantages across borders. It introduces key international business theories, including ownership, location, and internalization advantages, as well as entry modes and international business models.
4. Innovation as a Driver of Competitiveness and Technological Complexity
This topic investigates the role of innovation and technological capabilities in shaping international competitiveness. Students explore differences in countries’ technological specialization, productive capabilities, and the contribution of MNEs to national innovation systems, with particular attention to technological complexity and economic development.
5. Marketing
This topic introduces international marketing principles, focusing on how firms adapt products, brands, and communication strategies to different cultural and institutional contexts. Students examine the balance between global standardization and local adaptation.
6. Non-Market Strategies
This topic examines how firms influence their broader business environment through activities beyond traditional markets, including corporate political activity, lobbying, stakeholder engagement, corporate social responsibility, and reputation management.
PART III – RULES OF THE GAME
7. International Trade and Investment Agreements
This topic provides an overview of the institutions and agreements governing global trade and investment, including the World Trade Organization (WTO), trade agreements, investment treaties, and arbitration mechanisms. It highlights both opportunities and tensions in international economic governance.
8. International Law
This topic explores the legal frameworks governing MNEs and their limitations in addressing corporate misconduct. Students examine business and human rights, corporate accountability mechanisms, due diligence frameworks, and challenges in accessing justice.
PART IV – CONTEMPORARY BIG ISSUES
9. Multinational Enterprises and Environmental Depletion
This topic examines the environmental consequences of global production and consumption, including externalities, resource use, waste generation, and the challenges of allocating environmental costs within the global economy.
10. Organizational Wrongdoing in International Business
This topic analyzes why corporate misconduct occurs and how unethical or illegal practices can become embedded within organizational structures and decision-making processes. Students critically examine the institutional and organizational drivers of wrongdoing through theories and case studies.
11. Multinational Enterprises, Tax Avoidance and Economic Inequality
This topic investigates international tax planning strategies adopted by MNEs and their implications for governments and societies, focusing on taxation, tax havens, inequality, and shareholder value.
12. Extreme Wealth, Techno-Oligarchs and Democracy
This topic explores the concentration of technological, economic, and political power among large technology companies and entrepreneurs. Students analyze how digital platforms, surveillance technologies, and artificial intelligence are transforming democratic institutions and governance.
13. Critical Raw Materials and the Energy Transition
This topic examines the role of critical raw materials in enabling the energy transition, while addressing environmental and social challenges related to extraction, global supply chains, mining conflicts, and human rights.
PART V – GOOD MODELS
14. Responsible Business
This topic explores the evolution of corporate sustainability and responsible business practices, examining the distinction between substantive responsibility and symbolic practices such as greenwashing.
15. Hybrid Organizations, Benefit Corporations and Alternative Business Models
This topic introduces alternative organizational models that seek to balance economic, social, and environmental objectives, including benefit corporations, B Corporations, hybrid organizations, and innovative governance approaches aimed at creating long-term societal value.
Syllabus IMM – 3 ECTS (Dr Verdiana Morreale)
16. Designing the Future: Imagining and Building Alternative Business Models
This workshop-based module invites students to move beyond analyzing existing business models and actively design alternatives for the future. Starting from the idea that the future is shaped by human choices, innovation, and collective action, students critically examine major transformations affecting business and society, including climate change, geopolitical instability, technological disruption, demographic change, and resource constraints.
Through collaborative workshops and group projects, students develop future scenarios and innovative business models addressing contemporary social and environmental challenges. The module encourages reflection on the purpose of business, alternative forms of value creation, governance, ownership, production, and stakeholder relationships. Students develop creative, theoretically informed, and evidence-based proposals, assessing their feasibility, trade-offs, and contribution to more sustainable, inclusive, and resilient societies. Assessment is based on group work and the presentation of the proposed future business model.
- Docente: ELISA GIULIANI
- Docente: GIOVANNA D'INVERNO
- Docente: STEFANO FIORAVANTI
