Business & Government Courses at Harvard University

2013-2014

Harvard University offers many courses that explore the business-government relationship, at Harvard Kennedy School (as part of the Business, Government, and Policy Concentration as well as other HKS courses), Harvard Law School, and Harvard Business School.

Courses in the Business, Government, and Policy Concentration

BGP-100: The Business-Government Relationship in the United States
Semester:  Fall
Syllabus  
Faculty:  Roger Porter
This survey course is designed to help students think analytically about the ways in which government and business interact with one another in a mixed economy. It examines: (1) how business and government are organized and how they seek to influence one another; (2) how government policies affect the competitive positions of individual firms and industries and how firms and industries compete to influence such policies; (3) the ways in which government policies affect economic growth and the ways in which governments seek to achieve a variety of noneconomic objectives; and (4) how to define national economic interest in an increasingly integrated global economy. Although the focus is on U.S. business-government relationships, comparisons are made to ways in which government and business interact in other nations.

BGP-150Y: Seminar: Business and Government
Semester:  Year
Syllabus 
Faculty:  John Haigh
There are six PAC seminars, each bearing the same “150Y” designation along with the relevant policy-area prefix: BGP, DPI, IGA, ITF, PED, and SUP. While the seminars differ in the subject-area concentrations of their students, they share key characteristics: All are explicitly geared to supporting students as they produce their Policy Analysis Exercises, all meet in both the fall and spring terms (though usually not every week), and all are open only to MPP2 students.
Open to MPP2 students only. Taught jointly with ITF-150Y.

BGP-230M: Corporate Social Responsibility
Semester:  Spr Mod3
Faculty:  John Ruggie, Jane Nelson, Steve Lydenberg
This module provides an overview of corporate social responsibility (CSR) and responsible investment, focusing on today's interplay between large corporations and governments, intergovernmental institutions, investors and non-governmental organizations (NGOs). Over the past several decades many factors have contributed to increased expectations for corporations to adopt CSR programs as governments have reduced their regulatory and ownership roles in favor of market-based approaches. Advocates have seen CSR as a means of addressing governance gaps where government is weak. Critics have seen CSR as an intrusion of corporate interests in the public sphere where government is strong. During its evolution, CSR has progressed from traditional philanthropy to encompass not only what companies do with their profits, but also how they make them. Through their stakeholder relations and business models, companies can help address environmental concerns, human rights public policies and practices. Companies can also identify opportunities for innovative products, technologies and business models aimed at solving social or environmental challenges. CSR has also become a tool for investors, to mitigate emerging social, environmental and governance risks and to identify opportunities for aligning financial performance with social, environmental and governance (ESG) performance. In addition, CSR has become a lever for civil society organizations to influence corporate practice and public policy. The course focuses on large multinational corporations and examines tools used to improve corporate social risk management, accountability and transparency and tools used to enhance corporate social innovation and shared value. What has worked, what hasn't, and why? What are CSR's limits? What is the future of CSR? The module surveys the literature and examines topical examples drawn from today's US and global experiences.
 
BGP-235: Private Capital for Public Purpose: Impact Investing and Its Siblings
Semester:  Spring
Faculty:  David Wood
This module will introduce and critically analyze efforts to direct private sector financial investments to public purpose. These efforts – falling under the headings of impact, responsible, mission, social, and sustainable investing – looks for ways to maximize the social utility of private investment. We will examine the: 1)  types of investors engaged in these efforts (e.g. individuals, pension funds, endowments, foundations); 2)  social goals they hope to achieve through their investments; 3) investment strategies and vehicles through which they hope to achieve these goals; 4)  intersections of impact investing and public policy; 5) ways that stakeholders assess the impact of these investments.  The class will balance U.S. domestic and global examples of investment, policymaking, and advocacy.
 
BGP-254: Global Strategic Management
Semester:  Spring
Faculty:  Jordan Siegel
Do you aspire to be a leader in an international organization or to occupy a policy role in which you seek to attract or otherwise regulate foreign direct investment? This course is unique not only in providing tools and frameworks for understanding what leads global multinationals to make different strategic investment decisions. This class is also useful for those who may in the future take on regulatory and/or development promotion roles in which one has to deal with global multinational firms. The idea is that in order to attract foreign direct investment or to regulate foreign direct investment, one needs to understand what makes multinationals tick. The course is organized around Prof. Siegel's Top Ten Strategies of Global Multinationals. These strategies range widely, including everything from product strategy recombination to borrowing/renting foreign institutions to arbitraging labor market differences. At the end of the semester, we apply the lessons of the course towards a real problem of a global multinational company in a kind of project laboratory. Overall, this course is unique in its focus on global strategy formulation and execution while at the same time incorporating a large amount of institutional analysis. The idea is that institutional analysis leads to strategy formulation, which in turn leads to the successful execution of strategy by the leader of the global multinational organization.  This is a 28 session course and meets on the HBS schedule. Please see the HBS calendar for more details. BGP-254 does not count towards the cap of HBS classes that Kennedy School students can take as cross-registrants. Also offered by Harvard Business School as HBS 1534.
 
BGP-264: Capital Market Regulation
Semester:  Spring
Faculty:  Robert Glauber, Hal Scott
Examination of the structure, competitiveness and social utility of U.S. capital markets as the basis for considering the range of proposals for financial regulatory reform growing out of the recent world-wide financial crisis. Specific topics will likely include: mechanisms for controlling risk in financial institutions, particularly capital and liquidity requirements; the unique problem of systemic risk; dealing with illiquid and insolvent institutions, including resolution authority; optimal regulatory structure; reform of securitization; regulation of derivatives trading; consumer protection; the future of Fannie Mae and Freddie Mac; the role and regulation of credit rating agencies; regulating executive compensation, particularly as it effects systemic risk. Classes will be primarily based on interactive discussion, but will also include lectures and regular guest speakers. Required written work will be a final take-home examination. The course assumes a basic understanding of finance and financial markets, but requires no prior professional or academic work in this field.  Also offered by the Law School as HLS 2018.

BGP-300: Inside Government: Making Public Policy
Semester:  Spring
Faculty:  Lawrence Summers, Cass Sunstein
This seminar will explore an assortment of issues, ranging from environmental regulation (including climate change) to financial regulation to public health, at the intersection of theory and practice. Among other things, the seminar will discuss the role of cost-benefit analysis, legal limits on regulation, and both standard and behavioral economics.  Also offered by the Law School as HLS 2623. The seminar is open by permission of the instructors.  To apply, please send a statement of interest and your resume to Kevin Doyle at (kdoyle@law.harvard.edu).

BGP-510Y: HKS-HBS Joint Degree First-Year Seminar
Semester:  Year
Syllabus
Faculty:  Joseph Bower
This required seminar introduces degree candidates in the first two years of the joint programs (both MPP-MBA and MPA/ID-MBA) to key policy and management issues at the interface of the business and government sectors. It complements their learning in the required curricula of HBS and HKS, aids them in selecting appropriate elective courses, and provides context for choosing and pursuing employment in the summers following the first and second years of the joint program. It also promotes the development of program cohort cohesion in the short term and professional identity in the longer run. A unifying pedagogical goal of the seminar is to prepare students to identify the political, market, and managerial aspects at work in issues at the interface of business and government institutions. Understanding these very different dimensions of complex problems provides a basis for applying professional skills and knowledge to help resolve them.  Required for first-year students in the joint HKS/HBS degrees, and not open to other students. Meets all year, generally on alternate weeks.

 
Other Harvard Kennedy School Courses with Relevance to Business and Government

API-126: American Economic Policy
Semester:  Spring
Faculty:  Jeffrey Liebman, Martin Feldstein, Lawrence Summers
Analyzes major issues in American economic policy, including national savings, taxation, health care, Social Security, budget policy, monetary and fiscal policy, and exchange rate management. Current economic issues and policy options are discussed in detail and in the context of current academic thinking. Prerequisites: Econ. 1010a or 1011a; API-101; or permission of instructor.
Also offered by the Economics Department as Ec 1420.

API-164: Energy Policy Analysis
Semester:  Spring
Faculty:  Joseph Aldy
This course provides an overview of energy policy issues with an emphasis on the analysis necessary to frame, design, and evaluate policy remedies to energy problems. The course is intended for doctoral students interested but not necessarily specializing in energy issues. The course is offered in support of the Harvard University Center for the Environment (HUCE) Graduate Consortium on Energy and Environment http://environment.harvard.edu/student-resources/graduate-consortium. Prerequisites: Multivariate calculus.

API-304: Behavioral Economics and Public Policy
Semester:  Spring
Faculty:  Brigitte Madrian
This course will examine the relationship between behavioral economics and public policy. Individuals frequently make decisions that systematically depart from the predictions of standard economic models. Behavioral economics attempts to understand these departures by integrating an understanding of the psychology of human behavior into economic analysis. The course will review the major themes of behavioral economics and address the implications for public policy in a wide variety of domains, including: retirement savings, social security, labor markets, household borrowing (credit cards, mortgages, payday lending), education, energy use, health care, addiction, organ donation, tax collection and compliance, and social welfare programs.

API-905Y: Seminar on Environmental Economics and Policy
Semester:  Year
Syllabus
Faculty:  Robert Stavins, Martin Weitzman
This is an advanced research seminar on selected topics in environmental and resource economics. Emphasizes theoretical models, quantitative empirical analysis, and public policy applications. Includes presentations by invited outside speakers. Students prepare critiques of presented papers and prepare a research paper of their own. Prerequisites: This course is intended primarily for PhD students in economics, political economy and government, public policy, or related fields with interests in applications in the environmental and natural resource area. Prerequisites include a graduate-level course in microeconomic theory, such as Econ. 2010a, Econ 2020a, API-109, API-110, or permission of instructor.  Also offered by the Department of Economics as Ec 2690hf.

DPI-201 A: The Responsibilities of Public Action (and other sections)
Semester:  Spring
Faculty:  Archon Fung
This course is a philosophical examination of the responsibilities of public policymakers in a democracy. The course asks two questions: (1) What should governments do? (2) What should political actors do? The first question requires consideration of public principles that guide good, just, and legitimate public policy. The second question requires consideration of the many and often competing obligations that should guide political actors inside and outside government, particularly when there is disagreement about what is good, just, and legitimate public policy. Discussions and assignments focus on applications of theoretical concepts from scholarly readings in philosophy and political theory to practical issues of public policy and policymaker responsibility.  Open to non-MPP1 students by permission of instructor only.
 
DPI-351M: Lobbying: Theory, Practice, and Simulations
Semester:  January
Syllabus
Faculty:  Mark Fagan
Lobbying is often called the 4th branch of government since this multi-billion dollar industry significantly impacts policymaking. This intensive course provides the opportunity to understand the fundamentals of lobbying while learning firsthand about the lobbying efforts of energy and environmental advocacy groups representing a variety of perspectives. Mornings (10:00-12:00) will be devoted to discussing lobbying basics-history and current size/scale/scope, value proposition, strategies and toolkit, regulations, players, scandals, etc. Lunchtime guest speakers will share perspectives on lobbying from the frontline. The afternoons (1:00-5:00) will be spent learning about the advocacy efforts of local energy and environment NGOs and simulating lobbying meetings on their behalf. The lobbying sessions will be conducted with former state legislators to add realism to the experience. As part of that process the students will (1) determine who to target and the message to deliver; (2) hold the session; and (3) provide follow-up materials. The simulations will be video taped and debriefed with the legislator and the class. At the end of the course the students will have a working knowledge of lobbying practices from the perspective of the "lobbyer" and "lobbyee" as well as gained experience in developing a lobbying deliverable.

DPI-450: The Political Economy of Transition in China
Semester:  Spring
Faculty:  Anthony Saich
China's incremental reforms have been compared favorably as a transition strategy with the "shock therapy" attempted in Eastern Europe and Russia. Reality is more complex, progress is mixed, and the country is now facing major challenges from delayed reforms, especially in the industrial and financial sectors. How are the state's priorities set? Relevant theories on socioeconomic development and transitions will be analyzed through a detailed study of the policymaking process in China. China provides an interesting empirical testing ground for comparative theory, as it has moved from a statist model of development to one that makes greater use of market forces within an authoritarian political structure. The course first evaluates China's evolving development strategies. Second, it analyzes the politics of the current transition, with detailed discussion of economic and social policy formulation and implementation.
 
DPI-562: Public Problems: Advice, Strategy and Analysis
Semester:  Spring
Faculty:  Archon Fung, David Barron
This is a jointly taught seminar that is required for students in their third and fourth years of the HLS/HKS joint degree program. It will use a series of case studies to examine how to analyze, advise and strategize the resolution of a series of difficult real world public problems at the intersection of law and policy from the vantage point of government decision makers at the city, state and federal levels, as well as from the vantage point of nongovernmental organizations and advocacy groups.
Students enrolled at the Kennedy School who have already received a JD or have completed the first year of law school, or students at the Law School who have received a public policy degree or are presently enrolled in a public policy program other than the HKS program may also take this seminar with the permission of Professors Barron and Fung. Also offered by the Law School as HLS 2398.

IGA-103: Global Governance
Semester:  Fall
Syllabus
Faculty:  John Ruggie
This course focuses on the interplay among states, international organizations (such as the UN, WTO, IMF, and World Bank), multinational corporations, civil society organizations, and activist networks in global governance. Cases are drawn from a broad range of issue areas, including peace and security, economic relations, human rights, and the environment. The objective is to better understand the evolution of global governance arrangements and what difference they make, in light of globalization and emerging geopolitical changes.  Also offered by the Law School as HLS 2100.

IGA-331M: Business and Human Rights
Semester:  Spr Mod4
Faculty:  John Ruggie
Human rights traditionally have been conceived as a set of norms and practices to protect individuals from threats by the state, attributing to the state the duty to secure the conditions necessary for people to live a life of dignity. The postwar international human rights regime was premised on this conception. Gradually, obligations under this regime were extended to individual persons, holding them to account for conduct that rises to the level of international crimes. The most recent development, which emerged in the 1990s, has been to establish the principle that business enterprises, particularly multinational corporations, have human rights responsibilities independent of legal requirements in their countries of operation. This module examines the emergence of business and human rights as the latest frontier in the postwar human rights revolution. It addresses both legal developments and voluntary initiatives across a spectrum of industry sectors, types of firms, and regions. There are no formal prerequisites although students are advised to have had some prior exposure to issues of global governance (e.g., IGA-103) and corporate responsibility (e.g., BGP-230M).

IGA-410: Energy Policy: Technologies, Systems, and Markets
Semester:  Fall
Syllabus
Faculty:  Henry Lee
Energy is a critical component of every dimension of human society. It is an essential input for economic development, transportation, and agriculture, and it shapes national and international policies in the environmental, national security, and technology arenas. IGA-410 is an introductory energy policy course which introduces students to the policy and economic dimensions of the energy choices to meet societal goals—both global and domestic. Oil and gas markets, electricity policy,, technology innovation, renewable energy, energy efficiency , climate change and global energy politics will be covered. The first part of the course introduces students to quantitative and qualitative analytical tools to assess energy problems and the fundamental concepts of energy policy. The second part relies heavily on case studies to explore specific challenges, which will allow students to apply the tools acquired in the first segment. Previous exposure to micro-economics is useful, but not required.

IGA-520: Technology, Innovation, and Sustainability
Semester:  Spring
Faculty:  Calestous Juma
This course examines the role of technological innovation in sustainability, focusing on the current international efforts to foster "green economies." It explores the relationships between contemporary innovation and ecological disruptions. While new technology is seen by some as an important source of economic productivity and global competitiveness, others point to the potential risks that such technologies pose to human health and the environment. However, the same techniques have the potential to contribute to ecological management. The course examines the political economy implications of new technological applications for sustainable development, drawing from specific case studies. It covers the following themes: (1) theoretical and historical aspects of technology and sustainability; (2) interactions between environment and development; and (3) the role of innovation policy in addressing ecological challenges, with particular emphasis on transnational relations and institutions. Training in natural or engineering sciences in not a requirement.

IGA-523: Innovation for Global Development
Semester:  Fall
Syllabus
Faculty:  Calestous Juma
Global development is increasingly being understood as a result of the interplay between technical innovation and institutional change. The interplay involves the generation and application of new knowledge in economic development. These interactions occur in the context of continuously evolving systems of innovation at regional, national, and international levels. This view is a significant departure from traditional economic approaches that treated technological change as an exogenous factor in economic transformation. The aim of this course is to analyze the historical and theoretical underpinnings of innovation systems, provide examples of how those systems functions, and outline the policy implications of adopting a systems approach to economic change. The course is offered in three units. The first unit covers the historical origins and theories of innovation systems from a public policy perspective. The second unit involves learning from contemporary case studies of innovation systems at the regional, national, and international levels. The third unit analyzes the policy implications and limitations of adopting a systems approach. The course is taught largely using the case method involving reading and discussion. Each reading of the case is guided by a set of study questions. The final output of the class is a 5,000-word policy paper. Through class discussion and the final paper, students are expected to show understanding of the concept of innovation systems, its applications to specific settings, and its relevance to public policy. Training in science, technology, or engineering is not a requirement for the course.

IGA-944: Sustainability Science: Policy Analysis and Design for Sustainable Development
Semester:  Fall
Syllabus
Faculty:  William Clark
Sustainable development –- promoting human well-being while conserving the life-supporting services of the natural environment over the long run -– has emerged as a central challenge of the 21st Century. This course explores interdisciplinary approaches for harnessing knowledge to support action in pursuit of sustainable development. In particular, it addresses the diagnosis of barriers to sustainable development, the design of policy and technology interventions to overcome those barriers, and the evaluation of how those interventions are likely to perform. The conceptual foundations of the course include the politics and ethics of defining goals and metrics for sustainable development; the complex and adaptive social-environmental systems that constitute the stage on which efforts to promote sustainable development are acted out; and the productive base of assets – manufactured capital, human capital, natural capital, institutions and knowledge – that together determine societies’ potential for sustainable development. The core concepts of the course are applied to specific cases of sustainable development ranging from local management of conservation reserves in the developing world, through comparative analysis of historical performance of nations and sectors, to the design of global governance institutions for supporting sustainable development.
The course is designed for students who have achieved a degree of mastery in one or more relevant sciences (e.g. economics, ecology, political science, engineering, earth systems science, public health, etc.) but who wish to understand how other bodies of expertise can complement their own in efforts to the promote sustainable development. No student (or the instructor) will have a sophisticated understanding of all the disciplinary perspectives we explore; all are expected to bring some relevant expertise to the table, and to integrate it with that of their classmates through discussion and teamwork.  Doctoral students and second year masters students from throughout the university are welcome. Mid-career masters students or undergraduate seniors with suitable backgrounds may be admitted on written application to the instructor.

ITF-110: The Political Economy of Trade
Semester:  Fall
Syllabus
Faculty:  Robert Lawrence
This introduction to international trade policy takes an interdisciplinary approach, examining the economics, law, and politics of this field. It does not assume an extensive knowledge of economics. The sequence of topics covered in the class are the gains from trade; basic instruments of trade policy (tariffs, treaties, and negotiating authority); the World Trade Organization and other international institutions; preferential trade arrangements; how trade disputes arise and are resolved; and a series of current issues such as trade in services, agriculture, investment, and labor rights. The class also simulates the Doha Round negotiations.
 
ITF-150Y: Seminar: International Trade and Finance
Semester:  Year
Syllabus
Faculty:  John Haigh 
There are six PAC seminars, each bearing the same “150Y” designation along with the relevant policy-area prefix: BGP, DPI, IGA, ITF, PED, and SUP. While the seminars differ in the subject-area concentrations of their students, they share key characteristics: All are explicitly geared to supporting students as they produce their Policy Analysis Exercises, all meet in both the fall and spring terms (though usually not every week), and all are open only to MPP2 students.  Open to MPP2 students only. Taught jointly with BGP-150Y.

ITF-220: The Economics of International Financial Policy
Semester:  Spring
Faculty:  Jeffrey Frankel
This course deals with the macroeconomics of open economies. The emphasis will be on models appropriate to major countries. Topics covered include: the foreign exchange market, devaluation, and import and export elasticities; the simultaneous determination of the trade balance, national income, the balance of payments, money flows, and price levels; capital flows and our increasingly integrated financial markets; the transfer problem; monetary and fiscal policy in open economies; international macroeconomic interdependence and policy coordination; supply relationships and nominal anchors for monetary policy; the determination of exchange rates in international money markets; and international portfolio diversification. Prerequisites: Microeconomics at the level of API-101 and macroeconomics at the level of API-121. Knowledge of international trade theory and econometric techniques is also desirable, but not essential. Students must be very comfortable with algebra.
May not be taken for credit with Ec 1530.

ITF-225: The Future of Globalization: Issues, Actors, and Decisions
Semester:  Spring
Faculty:  Robert Lawrence, Lawrence Summers
This course examines the economic, political, and social issues raised by globalization -- its impact on jobs, inequality, poverty, and the environment -- for citizens, societies, and nations. These issues are addressed with a focus on the economic interests and political powers of the actors that constitute the international system and the structures within which those actors operate to produce decisions and outcomes. We provide conceptual and empirical foundations, such as the economics of trade and of international finance, and use these to illustrate the issues and actors. We use analytical frameworks to understand hotly debated issues of the day -- such as Greece and the Euro crisis and the rise of China -- and also how structures and institutions created today will shape the decisions of the future. We do this through lectures, in-class debates, readings, and simulation exercises that place students in the shoes of the decision makers facing complex choices.
 
ITF-270: Financial Crises: Concepts and Evidence
Semester:  Spring
Faculty:  Carmen Reinhart
This course covers topics on currency, banking, inflation, and debt crises as well as international financial contagion. Issues pertaining to monetary/financial, exchange rate, debt restructuring, and fiscal policy in connection with the antecedents and aftermath of crises are studied at both the theoretical and empirical levels. The role of current account dynamics, international capital flows, financial integration, and world commodity price cycles as these relate to recurring economic booms and busts are analyzed. The empirical evidence studied is global in scope, drawing from the experiences and crises episodes of advanced and emerging market economies across all regions. The historical coverage spans many of the pre-World War II crises episodes to the modern-day emerging market crashes of the 1990s and the unfolding banking and debt crises of the advanced economies. Prerequisites: A previous course in macroeconomics is highly desirable.

MLD-411M: Budgeting and Financial Management
Semester:  Fall Mod2
Syllabus
Faculty:  Linda Bilmes
Budget concepts and techniques are central to the successful operation of government, nonprofit, and for-profit organizations. This rigorous introductory course aims to demystify the budget process for those who are new to the world of budgeting. It covers the entire budget process, including budget formulation and execution, program development, cost and revenue estimation, budget strategies and tactics, and budget evaluation. The course will include performance-based budgets, performance measurement, variance analysis, activity-based costing, cost accounting, capital budgeting, and finance. The course will use case discussions, problem sets, online tutorials, and individual and group exercises. Students taking this course may enroll in MLD-412, a follow-on course in "applied budgeting" in the spring. Students who complete the course successfully may participate in the MLD-411 alumni program. Prerequisite: Students should be familiar with Microsoft Excel.

MLD-412: Advanced Applied Management, Operations, and Budgeting
Semester:  Spring
Faculty:  Linda Bilmes
This course will enable students to work on the actual budgets and financial operations of local municipalities and school districts in the areas of cost accounting, activity budgeting, and performance budgeting. Prerequisite: Basic financial knowledge (demonstrated through course work such as MLD-411, 411M, 417M, API-401, or similar) or MBA program; and permission of the instructor.  Applicants will be required to submit a short statement of interest.

MLD-601: Operations Management
Semester:  Fall
Syllabus
Faculty:  Mark Fagan
This course is an introduction to operations management which entails creating public value by efficiently delivering quality services. The course provides students with the tools to identify opportunities for improvement, diagnose problems and barriers, and design efficient and effective solutions. The course uses the case method of instruction, drawing examples primarily from the public and nonprofit sectors with some private sector cases. The course roadmap is: creating value, delivering quality services, delivering efficient services, managing performance, utilizing technology, and addressing unique challenges. Throughout the course, tools will be introduced including process mapping and reengineering, capacity and root-cause analysis, and total quality management. The course capstone is a client project in which student teams help local agencies solve actual operational problems. The course is oriented toward the general manager or those interested in an introduction to the field. A Friday recitation provides additional practice with the tools that are taught.

MLD-830 A: Entrepreneurship and Innovation in the Private and Social Sectors
Semester:  Fall
Syllabus
Faculty:  Dick Cavanagh
Introduces the theory and practice of entrepreneurial management in the private and social sectors. Prepares students for future work and leadership in and with entrepreneurial ventures. Explores entrepreneurial strategies, organization, and leadership. Requirements: student preparation and presentation of small group research project(s) about entrepreneurial ventures or leaders in the private or nonprofit world; substantial primary and secondary research. The instructor will meet with each group at mutually convenient times during and outside of class, to help structure the project and coach the presentations of these business plans and case studies. Grades based 1/3 on class participation, 1/3 on the group research presentation, and 1/3 on a case final exam. Students without prior academic or professional exposure to financial management are urged to enroll in “Entrepreneurial Finance” (MLD-829MA) concurrently.

MLD-830 B: Entrepreneurship and Innovation in the Private and Social Sectors
Semester:  Spring
Faculty:  Dick Cavanagh
This seminar/workshop introduces the theory and practice of entrepreneurial management in the private and social sectors. Prepares students for future work and leadership in and with entrepreneurial ventures. Explores entrepreneurial strategies, organization, and leadership with special attention to creating business plans for new social enterprises. Requirements: An individual 10-15 page term paper applying the course insights to either a case study or a proposal/business plan for a new social venture. Grades based 1/2 on class participation and 1/2 on the individual term paper. Students without prior academic or professional exposure to financial management are urged to enroll in “Entrepreneurial Finance” (MLD-829MA or MLD-829MB) prior to or concurrently with MLD-830B.

PED-209: Management, Finance, and Regulation of Public Infrastructure in Developing Countries
Semester:  Spring
Faculty:  Henry Lee
This course will explore efforts to manage, finance, and regulate the transportation, telecommunication, water, sanitation, and energy infrastructure systems in developing countries. Issues to be discussed include public-private partnerships, the fundamentals of project finance, contract and discretionary regulation, and managing the political context in which infrastructure decisions are made. The course will rely on case material taken from infrastructure programs in developing countries, including Brazil, Mexico, Thailand, Laos, Argentina, Chile, Lesotho, Uganda, Madagascar, and India, as well as some developed countries, including the United Kingdom, Canada, and Australia.

SUP-442: Tackling the Toughest Controversies in Modern American Higher Education
Semester:  Fall
Syllabus
Faculty:  Richard Light
This course explores ten controversies in American Higher Education. The overarching theme is how to help all students to succeed and prosper in a broad variety of universities, at a time where students bring increasingly different backgrounds to campus and financial constraints are real. The ten topics include: (1) Diversity - - on some campuses diversity among students works wonderfully well, while on others it works far less well. What concrete, policy decisions can enhance the good? (2) MOOCS - - how will massive online courses and learning opportunities change and reshape different kinds of universities? How will the roles of faculty, students, and administrators change? (3) Student services - including advising, running an effective orientation, helping students with problems - - how to structure such services? (4) Assessment - What are ways to examine rigorously how well a college is serving its students? What are ways to measure value - added, what students are actually learning? (5) Enhancing college success - Why do some students transition so smoothly into universities, while others struggle? What formal policies can help students to make this transition most effectively and successfully? (6) Liberal Arts - Is the future of America's liberal arts colleges bright or grim? (7) Public Universities - Most American students attend large, public universities. Their challenges are changing drastically. What challenges will face public universities in the next few years? How can public universities increase graduation rates for their students? Is a gap between privates and publics widening to become a chasm? (8) Non-academic topics - How can universities incorporate discussions about ideas to enrich students' overall experiences on a campus? (9) Privatization: when might public universities become private? (10) The future: What will the landscape of higher education look like in five to ten years, and how can universities prepare? Requirements: Each student will be required to participate in one debate and will be asked to participate in a small working group as part of a simulation to re-design a university. The format of this class is that of a large seminar. Obligations include three very short papers and one final, substantial research paper on a topic of each student’s choice about a controversy in higher education.
Also offered by the Graduate School of Education as S-123. Please note - The shopping session for this course will take place on Wednesday, August 28 at 11:30 in Longfellow Hall 319 (GSE).

SUP-582: Health Policy Reform: Comparative Approaches to Reducing Inequalities
Semester:  Fall
Syllabus
Faculty:  Mary Ruggie
The United States spends more than any other country on health care, yet ranks low among developed countries in terms of equality in access and health outcomes. At the same time, inequalities in health care abound across the states in the U.S. This course asks how and why some policies and programs are more successful than others in reducing inequalities based on SES, race/ethnicity, age, and gender. We compare national, state and local efforts across the U.S. as well as between the U.S. and Canada, Britain, and Germany, in a search for transferrable lessons and best practices. Our main focus is new developments in financing, paying physicians and other providers, and delivering primary and integrative health care. We examine the roles of public and private sector actors, the distribution of responsibilities for provision and outcomes, the construction of regulatory frameworks, forms of rationing, and the relationship between health and social policy.
 
SUP-651: Transportation Policy and Planning
Semester:  Spring
Syllabus
Faculty:  Jose Gomez-Ibanez
Provides an overview of the issues involved in transportation policy and planning, as well as an introduction to the skills necessary for solving the various analytic and managerial problems that are peculiar to this area. The course is organized around seven problems: (1) analyzing the market for a service; (2) costing and pricing; (3) operations management; (4) controlling congestion and pollution; (5) transport and land use; (6) investment evaluation; and (7) the regulation of private carriers. Examples are drawn from both urban and inter-city passenger and freight transportation. One-quarter of the classes are lectures, and three-quarters are case discussions. Prerequisite: Microeconomics at the level of API-101 or API-105 is assumed.  Also offered by the Graduate School of Design as GSD 5302.


Courses on Business and Government at Harvard Law School

(for a list of all HLS courses, including information about meeting times, credits, and prerequisites, please go to: http://www.law.harvard.edu/academics/curriculum/catalog/index.html?year=2013-2014)

Administrative Law
Semester: Fall
Faculty:  Adrian Vermeule
This course will study law making and law application by executive departments of government. Using the material covered in the first-year "Legislation and Regulation" course as a foundation, this class will cover a variety of topics, including the legal framework (both constitutional and statutory) that governs administrative adjudication; the proper role of agencies in interpreting statutory and regulatory law; judicial review of agency decisions; public participation in agency rulemaking; and non-traditional approaches to regulation, including negotiation and privatization. The central theme of the course is how the law manages the tension between "rule of law" values (e.g., procedural regularity, accountability, and substantive limits on arbitrary action) and the desire for flexible, effective administrative governance.

Administrative Law
Semester: Fall
Faculty:  Cass Sunstein
This course will examine the legal controls on government regulation, in areas as diverse as environmental law, national security, communications, foreign affairs, taxation, labor-management relations, and much more. Pervasive questions will involve the constitutional legitimacy of "the regulatory state"; the procedures that are supposed to improve and discipline agency decisions; the right to a hearing; the role of cost-benefit analysis; and the allocation of power between regulators and judges. A distinctive feature of the course will be frequent focus on democratic theory, on regulatory policy, and on how administrative law can actually make society work better or worse.

Administrative Law
Semester: Spring
Faculty:  Todd Rakoff
This course will study law making and law application by executive departments of government. Using the material covered in the first-year "Legislation and Regulation" course as a foundation, this class will cover a variety of topics, including the legal framework (both constitutional and statutory) that governs administrative adjudication; the proper role of agencies in interpreting statutory and regulatory law; judicial review of agency decisions; public participation in agency rulemaking; and non-traditional approaches to regulation, including negotiation and privatization. The central theme of the course is how the law manages the tension between "rule of law" values (e.g., procedural regularity, accountability, and substantive limits on arbitrary action) and the desire for flexible, effective administrative governance.

Advanced Environmental Law in Theory and Application
Semester: Spring
Faculty:  Richard Lazarus
This course complements the general survey course in environmental law. The primary contrast between the two courses lies in their relative breadth and depth of coverage. The survey course can perhaps be best described as a series of broad, shallow dives into the substance of federal environmental law. This class, Advanced Environmental Law In Theory and Application, includes a series, far fewer in number, of much narrower and deeper dives into some of the same material, but also different material, potentially including natural resources law. The basic objective of this advanced course is to teach students how to navigate and think about an exceedingly complex regime of statutes, regulations, and informal agency practices, in the context of addressing a concrete environmental problem. By examining in detail environmental law in application, the theoretical underpinnings and the challenges of environmental lawmaking are well highlighted. There are no formal prerequisites for the class, although the environmental law survey course is a recommended course to have taken beforehand.

Advanced Topics in Antitrust
Semester: Spring
Faculty:  Einer Elhauge
This course will address current hotly debated topic of antitrust law and economics. Students will write their own paper for the course.

Antitrust Law and Economics – US
Semester: Fall
Faculty:  Einer Elhauge
This course covers U.S. antitrust law, which is the law that regulates the process of business competition, and the economic analysis that is relevant to understanding modern antitrust adjudication. Topics include horizontal agreements in restraint of trade, monopolization, vertical exclusionary agreements, vertical distributional restraints, price discrimination, and mergers. Prior economics background is not required because the course will teach you the relevant economics, and students have performed at the very top levels of the class without any prior economics background. Nonetheless, the course does involve a fair bit of economics, so students must be comfortable with that, and students have reported that they felt a prior background in economics is helpful for this class. The course will have weekly small sections led by former antitrust students to help with the economics and material in general. 

Antitrust Law and Economics – International
Semester: Spring
Faculty:  Einer Elhauge
This course is the continuation of the regular course in U.S. antitrust law. It addresses the laws from other nations that are relevant to regulating the process of business competition and the economic analysis that is relevant to understanding modern antitrust adjudication. Topics include horizontal agreements in restraint of trade, monopolization and abuses of dominance, vertical exclusionary agreements, vertical distributional restraints, price discrimination, mergers, and the treatment of anticompetitive conduct that spans multiple nations. Prior economics background is not required because the course will teach you the relevant economics, and students have performed at the very top levels of the class without any prior economics background. Nonetheless, the course does involve a fair bit of economics, so students must be comfortable with that, and students have reported that they felt a prior background in economics is helpful for this class. Students who have taken Global Antitrust Law may not take this course because it duplicates the international portion of the material covered in Global Antitrust Law. The book will be Elhauge, Global Antitrust Law and Economics (Foundation Press 2d ed. 2011).

Bankruptcy
Semester: Fall
Faculty:  Mark Roe
This basic bankruptcy course covers the major facets of bankruptcy that influence business financing transactions. Much of the deal-making in a financing transaction is negotiated in anticipation of a possible reorganization in Chapter 11 or of a private reorganization in its shadow. For many lawyers, contact with bankruptcy law is anticipatory and not in front of the bankruptcy judge. When feasible, students will read not just bankruptcy court opinions and the Bankruptcy Code, but materials that financing lawyers use day-to-day: a bond indenture, a prospectus, a complaint in a loan dispute, and SEC submissions. Students will ordinarily participate in a simulated Chapter 11 reorganization.

Behavioral Economics, Law and Public Policy
Semester: Spring
Faculty:  Cass Sunstein
This seminar will explore a series of issues at the intersection of behavioral economics and public policy. Potential questions will involve climate change; energy efficiency; health care; and basic rights. There will be some discussion of paternalism and the implications of neuroscience as well.

Boards of Directors and Corporate Governance
Semester: Spring
Faculty:  John Coates
This upper-level course covers uses case studies to examine the central role of the board of directors in the governance of business corporations, and the relationships between the board and other key actors in corporate governance. This course is taught jointly with Harvard Business School Professor Jay Lorsch. Students who take this course will be required to meet at HBS, and to work together in teams with HBS students on joint projects. Grades will be based on participation and team-based paper projects. Students with questions on course format and content should direct them to Professor Coates. (A prior version of this course included all of the material normally taught in Corporations courses; this version will require Corporations as a pre-requisite, and is aimed at those wanting a more in-depth look at corporate law in practice.)

Capital Market Regulation
Semester: Spring
Faculty:  Hal Scott and Robert Glauber
Examination of the structure, competitiveness and social utility of U.S. capital markets as the basis for considering the range of proposals for financial regulatory reform growing out of the recent world-wide financial crisis. Specific topics will likely include: mechanisms for controlling risk in financial institutions, particularly capital and liquidity requirements; the unique problem of systemic risk; dealing with illiquid and insolvent institutions, including resolution authority; optimal regulatory structure; reform of securitization; regulation of derivatives trading; consumer protection; the future of Fannie Mae and Freddie Mac; the role and regulation of credit rating agencies; regulating executive compensation, particularly as it effects systemic risk. Classes will be primarily based on interactive discussion, but will also include lectures and regular guest speakers. Required written work will be a final take-home examination. The course assumes a basic understanding of finance and financial markets, but requires no prior professional or academic work in this field.  Note: This course is jointly-listed with HKS as BGP-264.

Climate Energy Law and Policy
Semester: Spring
Faculty:  Jody Freeman
This course integrates traditional U.S. energy law with U.S. climate law. Topics covered include: federal and state laws governing electricity regulation and transmission; coal, natural gas, nuclear and renewable power; energy efficiency; federal climate policy under the Clean Air Act; oil and alternatives to oil for the transportation sector; state clean energy programs; and energy “security”. The materials will raise interesting questions about the federalism, regulatory design, economic, and technological challenges in this space and will push students to confront the obstacles to aligning the sometimes conflicting goals of energy and environmental policy. The animating question for the course is: what legal infrastructure is necessary to facilitate a transition to cleaner energy, while controlling costs, ensuring system resilience, and protecting national security? Readings will include traditional legal materials such as cases and statutes (we will use a casebook on energy law) but also a variety of supplementary policy documents drawn from government, nonprofit, academic and private sector sources.
 
Communications and Internet Law and Policy
Semester: Winter
Faculty:  Yochai Benkler
The course will provide an introduction and overview to questions of communications and Internet law and policy. The intensive semester will combine several lectures and in-class discussions to provide background and overview of major issues, with intensive, workshop-style group work on policy briefs and in-class presentations. The topics of the policy briefs are selected so that by following their own, and other student's presentations, students will receive an overview of the major topics currently at stake in communications and Internet law and policy, and will also develop an in-depth familiarity with a subset of the issues through intensive high-intensity research, discussion, and presentation.

Comparative Corporate Governance
Semester: Spring
Faculty:  Mark Roe
In this seminar we will investigate topics in corporate governance, often from a comparative perspective, using concepts from general corporate theory and often with a legal policy perspective. The topics that we will examine are likely to include private equity, hedge fund activism, the reasons for differing corporate structures around the world, and the differing goals of corporate governance and corporate law. The seminar is given in association with the LLM corporate governance concentration, although enrollment is not necessarily limited to those students. The seminar will meet 12 times throughout the academic year. 

Comparative Corporate Governance: USA, Western Europe, Asia
Semester: Fall
Faculty:  Reinier Kraakman and Karl Hofstetter
This seminar explores major topics in corporate governance and regulation in the U.S., Western Europe and (at least selectively) Asia. It is organized around five or six clusters of issues, ranging from the governance problems of family-held and widely-held firms to management compensation, corporate social responsibility, and sanctions for foreign corrupt practices. It addresses a case study for each of these clusters. In addition, the instructors will seek a prominent business actor to address each cluster of issues. Past business participants have included the CEO of Novartis and the Chairman of ABB (in 2005) and the Chairmen of Swiss Re and Credit Suisse as well as the General Counsels of Royal Dutch Shell, Societe Generale, and the New York Stock Exchange (in 2009). Most outside speakers participate in seminar meetings electronically and are available to answer real-time questions. Beyond case study materials, the seminar readings review the law and legal institutions relevant to the issue clusters as well as selected readings from the corporate finance literature. There is no exam or required paper. Instead, seminar participants submit a memo on the weekly readings a day prior to each seminar meeting. The memos are published on the seminar website and available to all participants to review. In total, participants must submit nine 3-4 page reaction memos. 

Corporate and Capital Markets Law and Policy
Semester: Fall
Faculty:  Lucian Bebchuk
This course will consider a range of policy issues in the law governing corporations, securities, capital markets, and financial institutions. Issues to be considered include the allocation of power between managers and shareholders, corporate transactions, executive pay, shareholder activism, cross-country differences in corporate and securities laws, securities regulation, and financial regulation. A substantial number of sessions will feature speakers, including both presentations by prominent practitioners on current policy and practice issues and presentations by prominent academics on current research. Readings will mainly be from law review articles and discussion papers. Many of the readings will use economic reasoning, and familiarity with, or at least interest in or tolerance for, such reasoning will be helpful. The aim will be to give students a good sense of the issues that have been discussed in the literature, or are being discussed in current debates, and the ways in which policy arguments about such issues are developed. The course will meet for 18 2-hour sessions which will take place on most Mondays and Wednesdays of the semester. There will be no examination. Instead, students will be asked to submit, before sessions, a brief memo on the assigned readings; grades will be based on these memos (primarily) and on participation in class discussion.

Corporate Finance
Semester: Fall
Faculty:  Holger Spamann
This course will cover the fundamentals of financial economics, with an emphasis on corporate finance. While this is a course in finance, not law, applications from a variety of legal and other settings will illustrate the importance of finance for law and lawyers. Such applications will include civil procedure, damage calculations, judicial valuations, banking regulation, securities fraud, and government accounting. There will be four graded problem sets and a final in-class exam, all of which will consist primarily of numerical exercises. Students are encouraged to work on the problem sets in groups of up to four. The course is open to students with and without a background in finance.

Environmental Law
Semester: Fall
Faculty:  Richard Lazarus
This course surveys federal environmental law and serves as a useful introduction both to environmental law’s particular complexities as well as to the skills necessary in mastering any complex area of regulation. The first part of the course considers the character of environmental disputes, the problems inherent in fashioning legal rules for their resolution, and the history of the emergence of modern environmental law in the United States. The second part of the course reviews several specific federal environmental statutes. The statutory review combines a close examination of several statutes – including the Clean Air Act and Clean Water Act – with a more general review of the basis operation of other laws, such as the National Environmental Policy Act and the Comprehensive Environmental Response, Compensation, and Liability Act. All the statutes serve as illustrations of different regulatory approaches to environmental problems: "command and control," information disclosure, and market-based instruments. The class includes more extended consideration climate change law, and class discussion frequently extends beyond court rulings to include the underlying litigation strategies of the parties that led to those rulings. There are no pre-requisites. 

Environmental Law and Policy Clinic
Semester: Fall, Winter, and Spring
Faculty:  Wendy Jacobs
The Emmett Environmental Law and Policy Clinic (ELPC) offers students an opportunity to do hands-on, meaningful, real-life, and real-time environmental regulatory, policy and advocacy work. Clinic offerings include local, national, and international projects covering the spectrum of environmental issues, under the leadership of Director and Clinical Professor Wendy Jacobs. Clinic students work on policy projects and white papers, regulatory and statutory drafting and comments, manuals and guidance to help non-lawyers identify and protect their rights, litigation and advocacy work, including developing case strategies, research and drafting briefs (filed in state and federal courts, including the U.S. Supreme Court), preparing witnesses and their testimony, meeting with clients and attending and presenting at administrative and court hearings. Our clients include state and municipal governments, non-governmental organizations, advocacy and community groups, and research and policy institutions. The subject matter varies each semester, but is likely to include climate change mitigation and adaptation, offshore drilling and water protection, sustainable agriculture/aquaculture, ethics in the study of human exposure to environmental contaminants, and development of legal frameworks for emerging technologies such as carbon capture and sequestration and extraction of natural gas by hydraulic fracturing.  Please note: Some ELPC students work off-campus with government agencies and nonprofit organizations, while others work on campus at the Clinic on cutting-edge projects and case work. Students are carefully matched to their projects/placements by the Clinic Director.

Food and Drug Law
Semester: Winter
Faculty:  Peter Barton Hutt
This course explores the full range of federal regulation of products subject to the jurisdiction of the Food and Drug Administration (FDA). These products include food, human prescription and nonprescription drugs, animal feed and drugs, biologics and blood products, medical devices, and cosmetics, which together comprise approximately 25% of the gross national product. The course examines the public policy choices underlying the substantive law, FDA enforcement power, and agency practice and procedure. The course covers such contemporary issues as protecting against unsafe or mislabeled food, controlling carcinogens, expediting approval of AIDS and cancer drugs, assuring the safety of prescription drugs before and after marketing, importing drugs from abroad, switching drugs from prescription to nonprescription status, balancing the benefits and risks of breast implants, the compassionate use of experimental products, regulating complex new medical device technology, control of such biotechnology techniques as gene therapy, requiring adequate consumer and professional labeling for FDA-regulated products, and the relationship among international, federal, and state regulatory requirements. A prior course in Administrative Law is desirable but not a prerequisite.

Inside Government: Making Public Policy
Semester: Spring
Faculty:  Cass Sunstein and Lawrence Summers
This seminar will explore an assortment of issues, ranging from environmental regulation (including climate change) to financial regulation to public health, at the intersection of theory and practice. Among other things, the seminar will discuss the role of cost-benefit analysis, legal limits on regulation, and both standard and behavioral economics.

International Finance
Semester: Fall 2013-Spring 2014
Faculty:  Howell Jackson and Hal Scott
This seminar is intended for students who are interested in international finance and the structure of financial regulation in an increasingly globalized economy. The seminar will explore issues of current interest in the field, including the competitiveness of U.S. financial markets, regulatory reform of financial regulation in the United States and around the world, the structure of regulatory cooperation in global markets, and the role of public and private enforcement in financial markets. The initial sessions will provide background on these subjects. Later, the focus of the seminar will be a series of outside speakers from government, practice and industry. In the final sessions of the year, students will present their own research papers on topics of current interest.  See http://www.law.harvard.edu/programs/pifs/ifllm.html for examples of papers written by students in prior years as well as a list of outside speakers.

International Finance
Semester: Spring
Faculty:  Hal Scott
This course focuses on how law and regulation affects international finance. It examines policies and regulation affecting cross-border banking and securities transactions in the three major markets, the United States, the European Union and Japan. In the U.S. the focus is on how post-Enron capital market regulation affects foreign firms, in the E.U. on continuing efforts to build integrated financial markets, and in Japan on the role of foreign firms in rebuilding the Japanese financial system after the "lost decade." The course also looks at the infrastructure that underlies the global financial system--the U.S. dollar payment system, the Basel Capital Accord, global standards for the clearing and settlement of securities, and rules for different exchange rate regimes. In addition, the course deals with offshore markets--like the Euromarkets and various derivatives markets (including the securitized markets impacted by the subprime crisis), as well as global competition between stock and derivatives exchanges and some key aspects of the emerging markets, for example sovereign debt and project finance. The course ends with an examination of how the international financial system has been regulated to control the financing of terrorism.

Legal History: History of American Economic Regulation
Semester: Spring
Faculty:  Kenneth Mack
This course examines the history of American economic regulation, focusing on the history of banking, corporate, anti-trust and administrative law. It will focus in particular on the history of banking and financial regulation beginning with the establishment of the Federal Reserve in 1913, continuing through the New Deal reforms of the banking and financial system and the movement for deregulation beginning in the 1970s. Finally, we will survey recent proposals to regulate banks and other financial institutions. The course will examine the intellectual, social and institutional history of economic regulation.

Legislation and Regulation
Semester: Fall and spring
Faculty:  Sections offered by Susan Davies, Matthew Stephenson, and Jody Freeman (in fall); John Manning, David Barron, and Jacob Gersen (in spring)  
This course is an introduction to lawmaking in the administrative state, including the enactment of rules by legislatures and administrative agencies, and the interpretation of statutes by administrative agencies and courts. We will study the architecture of the federal administrative state, the institutional dynamics of federal administrative policymaking, and the legal rules that structure relationships between and among legislatures, agencies, courts and other actors.

Public Health Law
Semester: Fall
Faculty:  Mark Barnes
In the practice of public health, the patient is the population rather than the individual; and actions and policies to promote public health therefore consider the welfare of the collective, often without regard for the interests of individuals. In liberal society, public health practice therefore exists in tension with constitutional law, judicial precedent, and even our culture itself, in which the individual is most often the unit of measure and analysis. In this course, we will consider the major categories of public health practice - including disease reporting and data collection, compelled treatment and vaccination, isolation and quarantine, inspection of public facilities and private homes, licensure of health professionals, regulation of food and drugs, environmental regulation, and sanitation - and their sources of legal authority and legal limitations. Public health will be viewed in historical perspective, and we will particularly examine the roots of modern public health practice in the nineteenth century work of Hermann Biggs and John Snow, and in the odd alignment of German public health practitioners with Nazi government efforts in the 1930s to control tobacco use and promote national health. Case examples will be drawn from recent public health controversies relating to the control of multi-drug resistant tuberculosis, HIV/AIDS, obesity, tobacco, and substance abuse.

Regulation of Financial Institutions
Semester: Fall
Faculty:  Howell Jackson
This course explores the regulation of financial institutions in the United States, covering a range of firms including banks, mutual funds, securities firms, financial markets, and insurance companies. We will examine the many different supervisory mechanisms that have evolved in the United States to regulate financial services firms, with a particular emphasis on jurisdictional boundaries, the division of regulatory authority over the financial services industry, issues of consumer protection in mortgage lending and consumer credit practices, and the oversight of systemic risks. Over the course of the semester, students will be expected to prepare one short reaction paper on a topic of current interest and also to take an in-class final examination.
 
Securities Regulation
Semester: Winter
Faculty:  Allen Ferrell
This course offers an introduction to the two most important federal securities laws: the Securities Act of 1933 and the Securities Exchange Act of 1934. The course explores the elaborate disclosure obligations these statutes impose on the distribution and trading of investment securities. Topics to be covered include the preparation of disclosure documents, exemptions from disclosure requirements, the relationship between disclosure obligations and anti-fraud rules, the duties of participants in securities transactions, and the applicability of federal securities laws to transnational transactions. The course will also explore the public and private enforcement of securities laws in the United States.
 
 

Courses on Business and Government at Harvard Business School

For a list of all HBS Elective courses, including information about meeting times, credits, and prerequisites, please go to: http://www.hbs.edu/coursecatalog/

The Board of Directors and Corporate Governance
Semester: Winter
Faculty:  Jay W. Lorsch and John C. Coates (Harvard Law School)
To even the most experienced leaders, corporate governance is complicated and dynamic. The responsibilities and functioning of corporate boards are often unclear or misunderstood. The relationships among boards, shareholders, and executives are varied, complex and sometimes fraught with conflict. The purpose of this course is to lift this foggy uncertainty and provide you a clear understanding of corporate governance: what boards do and why many are effective, while others fail leading to problems for their company and the board itself. With this perspective you will be prepared to join and serve on boards, or advise boards or executives or shareholders, with a clear understanding of what is expected of you and how to be most effective. 
 
Creating the Modern Financial System
Semester: Winter
Faculty:  David Moss
Creating the Modern Financial System offers a vital perspective on finance and the financial system by exploring the historical development of key financial instruments and institutions worldwide. The premise of the course is that students will gain a richer and more intuitive understanding of modern financial markets and organizations by examining where these institutions came from and how they evolved. The course is ideal for anyone who wants to deepen his or her understanding of real-world finance. The course content covers seminal financial developments in a diverse set of countries - but with a special focus on the United States - from the 18th century to the present. Reaching across the chronological arc of the course are three broad topics: (1) financial markets and instruments, (2) financial intermediaries, and (3) financial behavior. Although nearly every case touches on all three topics, each case also has a primary focus. Throughout the course, the goal is to provide students with the broadest possible grounding in real-world finance by exposing them to some of the greatest (and, at times, most devastating) moments in modern financial history. Although the past is unlikely to repeat itself exactly, business managers who have a strong background in financial history are likely to be better prepared for the full diversity of financial innovations, shocks, and crises that they'll face in the future.

Creating Value in Business and Government (HKS-HBS Joint Degree Seminar)
Semester: Fall
Faculty:  W. Carl Kester and John D. Donahue (HKS Faculty)
This full-credit course is open only to students in the HBS-HKS Joint Degree Program, and is a required course for all joint degree students in the fall semester of their third year. Its purpose is to integrate on the one hand, the perspectives and analytic tools provided by the HKS core curricula in the MPP or MPA/ID programs, and, on the other, the perspectives and analytic tools provided by the required HBS curriculum in the MBA program. In essence, the course integrates the skills students have learned in their first two years in the joint degree program. The course features a series of integrative modules on specific topics. In this set of modules, pairs of faculty members - one each from HBS and HKS - teach as a team, bringing their distinctive perspectives and analytical approaches to bear on a specific subject area. These subject areas may be defined by: policy realms (for example, finance, tax, health, education, environment, or national defense); methods (for example, decision making under uncertainty, project evaluation, performance measurement, or negotiation); or other topics (for example, international trade, technological innovation, economic development, infrastructure, insurance, management styles and processes, or risk management).  It is intended that students will emerge from this course with an understanding of questions such as: how a regulation is developed and promulgated, and how business can seek to influence the outcome; how legislative battles are fought and how business organizes to shape provisions in legislation; and how business and government can work together to shape an international environment that is conducive to economic growth. In short, the aim of the course is to cultivate in students the capacity to view problems comprehensively from "both sides;" that is, how various business interests view an issue, and how government officials in a variety of agencies and institutions view the same problem.

Innovation in Business, Energy, and Environment
Semester: Fall
Faculty:  Rebecca Henderson, Joseph Lassiter, John Macomber, and Forest Reinhardt
This course explores advanced and emerging topics in business, energy, and the environment. There is a focus on opportunities for firms whose offerings are significantly involved in or impacted by energy, water, resource efficiency, transportation, and conservation. The course is team taught in one section by the primary faculty of the Business and Environment Initiative. The course moves from more general cases establishing a common background of vocabulary and frameworks into specific circumstances facing businesses whose offerings are particularly engaged in the interaction of business, energy, and the environment. Usually the impact of consumer and social attitudes, as well as political and regulatory processes ranging from carbon pricing to consumer protection must be considered with particular attention in these fields. Topics include key resources like traditional energy, alternative energy, water, waste water, and aspects of transportation; as well as important technologies and business models like renewable energy, batteries, sensors and data, optimization, collaborative consumption, energy efficiency finance, consumer behavior, climate change adaptation, and the circular economy (cradle to cradle). Grading is based on class participation and several written assignments.

Managing the Financial Firm
Semester: Winter
Faculty:  David Scharfstein
In MFF, we examine the challenges and opportunities faced by financial industry managers and entrepreneurs in the "post-crisis" world. We seek to understand of how they can effectively navigate these challenges and take advantage of new business opportunities that are emerging in the changing environment. Financial firms play a central role in the proper functioning and health of the global economy, providing capital for growth, the "plumbing" to facilitate liquidity and transactions, and the tools to manage risk. The scope of activities is substantial, with financial firms offering a variety of products and services, including credit, investments, risk management tools, advice - to a variety of clients around world - institutional investors, businesses, individuals and governments. These firms assume an array of organizational forms to compete in the marketplace, evolving over time as the marketplace and regulatory regimes change; some are highly focused and some have a substantial breadth of activities. The financial industry continues to undergo unprecedented change as a result of the financial crisis, with business practices and models of many firms and whole sectors having been called into question, and the relationships among the financial industry, the "real economy" and government under fundamental reexamination.

Managing International Trade and Investment
Semester: Fall
Faculty:    Dante Roscini
The course consists of four inter-related modules. The first module, Firms in the Global Economy, consists of cases that deal with the role of firms within the global economy. Discussions focus on the political and economic origins of our current era of globalization and how the rules that constrain and enable firms are changing. The second module, National Policy and Firms Response, focuses on national policies that shape flows of goods and capital. Using a series of company-based cases, we investigate different logics of national regulation, and the tools that firms have available for predicting, avoiding, or even employing the long arm of government policy. The third module, The Politics and Rules of International Trade shifts our analysis to institutions at the international level. We explore how formal institutions, such as the WTO, IMF, OECD, and EU as well as informal institutions and the norms promoted by social movements, influence the opportunities for success in international finance and trade. MITI ends with a capstone module called Risk Analysis of International Investment. Foreign investment entails risks that leaders must understand in order to gain a competitive and sustainable advantage in the international marketplace while avoiding costly disappointments. We will examine the political, financial and legal risks that decision makers must assess and manage given the inherent uncertainties involved in cross border investments. Within this module we will hold a session with guests from the buy side where we will discuss how financial investors take into account current global economic developments to form a view on the attractiveness of various asset classes across geographies.

Reimagining Capitalism
Semester: Winter
Faculty:  Rebecca Henderson and Clayton Rose
Growing income inequality, poor or declining educational systems, unequal access to affordable health care and the fear of continuing economic distress are putting stress on political systems worldwide and challenging the credibility of business. At the same time there is increasing pressure on the supply of basic commodities, particularly on food, water, energy, and land. Rates of environmental degradation are increasing, sea levels are rising and unchecked emissions of greenhouse gases threaten to destabilize the climate. Moreover we are in the midst of widespread ecosystem degradation and a corresponding mass extinction of bird, plant and animal life. Robust political responses based on strong social support are crucial to meeting these challenges, but action by the private sector will also be critically important. This course is designed for students who want to explore the idea that many of these problems can be effectively addressed by high performing private firms. We will examine how accomplishing this may require both changes in how firms and leaders consider their obligations and engage with the issues, as well as changes in the "rules of the game" by which capitalism is structured. We will explore the evolution, power and limitations of our current capitalist systems, look at how well-run businesses might effectively address these problems, and examine how the motivations and actions of business leaders might make a critical difference in shaping the future

The Role of Government in Market Economies
Semester: Winter
Faculty:  Matthew Weinzierl
This course is about one question: What is the proper role of the government in the market economy? We study the role of government as it plays out in the real world, using vivid case studies from many countries, decades, and policy angles. At the same time, we align these cases with a rigorous theoretical framework that clarifies the circumstances under which government intervention in the market can improve outcomes. The goal of this course is to deepen your insight into and influence on the debate over economic policy. Private-sector managers are better able to position their organizations, both defensively and offensively, if they understand why and how governments act. Moreover, exceptional private-sector leaders are now widely expected to provide informed, intelligent leadership on the policy issues at the heart of this course.

 

 


 

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