Firms, Governments & Activists: Business in the Non-Market Environment

This course is designed for students interested in working in the public or private sector.

While firms are traditionally thought of as profit maximizers, they also face non-market constraints imposed by regulation and social norms and pressures. These non-market pressures are exerted by a variety of social, political, regulatory and legal institutions.

Examples of such institutions include the courts, class action lawsuits, regulators such as the SEC and FDA, and NGO such as Greenpeace.  This course will consider the perspectives of managers, regulators and policy entrepreneurs as they approach problems related to interaction of market and non-market institutions.

Topics that may be covered include: The media, activists, regulatory agencies, lobbying, crisis management, environmental regulation, intellectual property rights, corporate social responsibility and international trade. These topics are used to practice applying the frameworks and formulating effective strategies.

Teaching methods will include a mix of lecture, case studies, group problems and presentation and simulation exercises. Students will be placed in groups according to background and interest to tackle a quarter long project that addresses the issues of the course. The specific project topic will be chosen in consultation with the instructor.