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Department of Financial & Management Studies (DeFiMS)

CONTEMPORARY ISSUES IN THE JAPANESE AND KOREAN ECONOMIES

Course Code:
151030020
Unit value:
0.5
Year of study:
Year 3 of 3 or Year 4 of 4
Taught in:
Term 1

This course is designed to introduce students to a wide variety of issues that are important for the economic and social development of these countries, and the implications for management. The choice of issues is intended to reflect recent and contemporary developments. Selected topics will help students evaluate the nature, rationale and impact of contemporary developments in the region. Neither these developments, their underlying economic polices and how they impact upon contemporary management practices in the region can be understood without reference to the remarkable growth and development that has occurred in both countries. Accordingly the discussion of each topic will give consideration to the enormous changes that have taken place in both countries.

Upon successful completion of this course, it is hoped that students with a variety of backgrounds will understand the major issues facing management in the region and how through a better understanding, how these affect decision making.

Objectives and learning outcomes of the course

At the end of the course students should be able to:

  • Provide a contemporary perspective on Japan & Korea’s socio-economic development and the implications for managerial decision making and evaluate the key management implications across a broad range of socio-economic indicators
  • Discuss the implications of demographic change in modern Japan & Korea , including the economic and social impact of population change
  • Evaluate the major contemporary socio-economic challenges faced by Japan & Korea in participating in the global market economy and its implications for international management
  • Critically evaluate contemporary changes in Japanese & Korean labour markets and discuss their implications for local and expatriate workforces
  • Understand the importance of technology and technological upgrading
  • Identify the difficulties as well as future challenges posed by food and energy security in the Japanese and Korean economies
  • Interpret the importance of the Japanese and Korean economies in the global economy and the implication of this for international management  
  • Evaluate the sustainability of current growth rates in these countries and provide insight on how management should deal with the uncertainty posed by this question

Method of assessment

This course is assessed by 30% written coursework and 70% by one two hour examination

Suggested reading

Indicative Readings:

  • Begg, D, Fischer, S and Dornbusch, R (2008) Economics, 8th Edition, McGraw-Hill, Maidenhead.
  • Begg, D and Ward, D (2006) Economics for Business, McGraw-Hill, Maidenhead.
  • Cowell, F (2006) Microeconomics: Principles and Analysis, Oxford University Press, Oxford
  • Fitzroy, F, Acs, Z and Gerlowski, D (1997) Management and Economics of Organization, Prentice Hall, London
  • Flath, D (2000) The Japanese Economy.  NY: OUP.
  • Lipsey, R and Chrystal, A (2007) Economics, Oxford University Press, Oxford.
  • Mansfield, E et al (2005) Managerial Economics, Norton, London
  • Milgrom, P (1992) Economics, Organization and Management, Prentice Hall, London.
  • Miyashita, K  and D Russdel (1994) Keiretsu: Inside the Hidden Japanese Conglomerates, New York: McGraw-Hill
  • Rugman, A and Brewer, T (eds) (2003) The Oxford Handbook of International Business, Oxford University Press, Oxford.
  • Salvatore, D (2003) Microeconomics: Theory and Application, Oxford: OUP
  • Stiglitz, J and J Driffill,  (2000) Economics, Norton, London.