The objective of this course is to provide the participants with the essential political economy knowledge and skills that are relevant for business success. By the end of this course, the participants will be able to:

• Identify and explain the key concepts and principles of political economy, such as power, institutions, collective action, public goods, etc.
• Apply the political economy way of thinking to analyze the behavior and decisions of governments, voters, interest groups, firms, etc.
• Understand the different types of political systems, such as democracy, dictatorship, federalism, etc., and their effects on economic performance and policies
• Recognize the role and impact of political economy on business functions, such as strategy, marketing, finance, human resources, etc.
• Evaluate the benefits and costs of various political economy issues, such as corruption, regulation, trade, development, environment, etc., for business

This course is designed for professionals who want to learn or refresh their knowledge of political economy and its relevance to business. It is suitable for anyone who works in or interacts with the public or private sector, such as managers, entrepreneurs, consultants, analysts, accountants, lawyers, etc.

Day One:

Introduction to Political Economy and Power

• What is political economy and why is it important for business?
• The political economy problem: cooperation vs conflict vs coordination
• The political economy way of thinking: incentives vs constraints vs preferences
• The concept of power: definition, sources, and measurement
• The examples of power: hard power vs soft power vs smart power vs structural power

Day Two:

Political Economy Institutions: How They Shape Economic Outcomes

• What are political economy institutions and how do they shape economic outcomes?
• The concept of institutions: definition, types, and functions
• The types of institutions: formal institutions vs informal institutions vs organizational institutions
• The examples of institutions: constitutions, laws, norms, parties, etc.
• The effects of institutions on economic performance: growth, stability, efficiency, equity, etc.

Day Three:

Political Economy Processes: How They Influence Economic Policies

• What are political economy processes and how do they influence economic policies?
• The concept of processes: definition, objectives, and features
• The types of processes: electoral processes vs legislative processes vs judicial processes vs bureaucratic processes
• The examples of processes: voting, lobbying, litigation, regulation, etc.
• The effects of processes on economic policies: taxation, spending, monetary policy, fiscal policy, etc.

Day Four:

Political Economy Actors: How They Affect Economic Behavior

• What are political economy actors and how do they affect economic behavior?
• The concept of actors: definition, objectives, and features
• The types of actors: individual actors vs collective actors vs institutional actors
• The examples of actors: voters, interest groups, firms, governments, etc.
• The effects of actors on economic behavior: consumption, production, investment, trade, etc.

Day Five:

Political Economy Issues: How They Impact Business Decisions

• What are some important political economy issues and how do they impact business decisions?
• The concept of issues: definition, objectives, and features
• The examples of issues: corruption, regulation, trade, development, environment, etc.
• The role and impact of political economy on business functions: strategy, marketing, finance, human resources, etc.
• The evaluation of political economy policies on business outcomes: profitability, risk, sustainability, responsibility, etc.

To enhance learning and practical application of concepts, the training course will use a combination of interactive lectures, case studies, group discussions, practical exercises, and real-world examples. Participants will also get the chance to collaborate on group projects and create action plans adapted to the needs of their respective organizations.