Course Introduction and Objectives Findings from complexity science, a growing inter-disciplinary area, indicate that global business dynamics are among the most complex phenomena ever. Yet the capacity to anticipate changing realities is a must for the management professional. Our profession, perhaps more than any other profession ever, is also charged with the onus to conceptualize and bring forth new realities. The elective’s central quest is to facilitate richer intuitions into the non-linear logic of global dynamics; with the economic institutions, especially firms & markets, at the core. In a way, the whole course is designed as a Case Analysis exercise for a single Case – the Case of the world economy over the last 270 years, with a special focus on firms & markets. The elective also seeks to deepen the enquiry into the complex dynamics between firms, goods & services markets, and financial markets. Course Content The course has two major segments: the first part involves developing a quasi-mathematical model for the whole economy; with firms, goods & services markets, and financial markets as the key sub-systems. The quasi-mathematical model relies on a synthesis of strategic management & complexity-cybernetic frameworks. The second part involves an exploration of the feasible spaces and hence the strategic options, given ‘the physics & engineering’ of market economies, or, Capitalism. Course Learning Outcomes (CLO) 1) The student would hopefully be able to better appreciate business dynamics as the essence of any significant global dynamics, especially since the rise of Capitalism. 2) The student would hopefully be able to better appreciate the complex dynamics between firms, goods & services markets, financial markets and the whole economy. 3) The student would hopefully be able to better appreciate the evolution of the world economy since the onset of Capitalism, including the rise & decline of nations. 4) The student would hopefully be able to better anticipate the likely portends for the future, be that for emerging economies, developed countries, or humanity as a whole. Reading and References There is no single comprehensive text for the course. The following, taken together, would be representative: 1.Beinhocker, Eric (2006) The Origin of Wealth: Evolution, Complexity, and the Radical Remaking of Economics Harvard Business School Press 2.Drucker, Peter (2003) Managing in the Next Society Butterworth Heinemann 3.Korten, David (2015) When Corporations Rule the World Berrett-Koehler Publishers 4.Ferguson, Niall (2009) The Ascent of Money Penguin 5.Maddison, Angus (2001) The World Economy: A Millennial Perspective OECD Publishing 6.Penrose, Edith (1995) The Theory of the Growth of the Firm Oxford University Press 7.Shutt, Harry (2009) The Trouble with Capitalism Zed Books 8.Simpson, David (2013) The Rediscovery of Classical Economics: Adaptation, Complexity and Growth Edward Elgar Publishing 9.Soros, George (2004) Crisis of Global Capitalism Viva Books Brief, dedicated handouts would be provided for every session. The Economist, the London weekly journal, which modestly calls itself a newspaper, would be of special interest for the course. Reference texts, reports & weblinks would be suggested at appropriate places for further culture. Pedagogy and Students Workload The predominant pedagogy would be Case Analysis, given that the whole course is designed as the analysis of a single Case, the Case of the world economy over the last 270 years. Some lecture mode would be used to sharpen specific knowledge inputs from varied functional areas, as also other knowledge domains, depending on the application context. Typical student workload is likely to be 2-2.5 hrs of non-class time for every session. Session Plan The specifics of the session plan vary year to year. These would be provided to each student during the run. Assessment Scheme