IGESSIGESS (Institute for Global Economics and Social Sciences)

The focus of this course is on providing a deep dive into the Japanese economy and business. The participants learn the implications of the policy decisions and their impact on the state of the economy. The course seeks to provide an understanding of the historical and institutional background of the contemporary Japanese economy.

We use a wide range of sources, covering academic literature, business case studies, and topical news items as well as op-ed pieces to understand the various aspects of Japanese business.

Each class consists of two parts: (1) a lecture and (2) student exercises. In the second half of each lecture, students are expected to participate in various exercises. Exercises are followed by a short class discussion to develop the takeaways. Students are also required to take short quizzes.

The course intends to cover:
1. The brief economic history of Japan
2. The institutional basis of the contemporary Japanese economy
3. The characteristics of Japanese business practices

英語 / English

The class is designed to be:
1.Interactive: With a strong emphasis on student participation.
2. Up-to-date: With the real-time explanation of unfolding events.
3. Critical and Analytical: Understanding the Japanese Economy and Business
4. Accessible: Breaking down the complex jargon in simple terms.

Each class consists of two parts: (1) lecture and (2) discussion. Active participation is required.

Two-Way Interaction:
Students will be able to partly design this course by participating in regular surveys and writing weekly posts on Hoppii. After the submission of each assignment, the instructor will give feedback or remedial explanation via an online forum and/or in the weekly session.

あり / Yes

なし / No

授業形態/methods of teaching：対面/face to face

※各回の授業形態は予定です。教員の指示に従ってください。

1[オンライン/online]：INTRODUCTION

Overview & significance of the course; Assignments; Assessment Rubric

2[対面/face to face]：RECAP

From the last semester;
The structure of the course

3[オンライン/online]：ECONOMIC HISTORY OF JAPAN

Japan in the early 20th century; What drove the growth?

4[対面/face to face]：JAPANESE BUSINESS 1.0

First iteration of Japanese corporate. From Zaibatsu to Keiretsu. Keiretsu and cross-ownership; Management system

5[オンライン/online]：JAPANESE BUSINESS 2.0

Unique Characteristics; Theoretical framework; Role of New Economy

6[対面/face to face]：THE FUTURE OF JAPANESE CORPORATIONS

Trends Internationalization
DX
Sunrise Industries

7[オンライン/online]：CONTEMPORARY ECONOMIC POLICY

Key elements; Future challenges

8[対面/face to face]：POLITICAL ECONOMY OF REFORMS

Major Issues
Public Opinion

9[オンライン/online]：CORPORATE GOVERNANCE IN JAPAN

Dichotomy
Unique features
Convergence

10[対面/face to face]：MARKETING IN JAPAN

Unique Fetures Continuity and change

11[オンライン/online]：CONSUMER IN JAPAN

Major Indicators; Critique

12[対面/face to face]：STRENGTHS OF JAPAN

Brand Japan; Soft Power; Startup scene; Precision Manufacturing; Global Image

13[オンライン/online]：DEMOGRAPHIC DEBATE

Low-fertility and aging; Major policy reforms; Immigration policy

14[対面/face to face]：ADVANCED TOPICS

Business of/by/for elderly; Inequality debate; Reimagining innovation

Students are expected to review class material, complete assignments, and find relevant material. Preparatory study and review time for this class are 2 hours each.

No Textbook

Hayashi, Fumio and Edward C. Prescott (2002), The 1990s in Japan: A Lost Decade, Review of Economic Dynamics, 206-235.

Hoshi, Takeo and Anil K. Kashyap (2011): Why Did Japan Stop Growing?

Hoshi and Kashyap (2013): Will the U.S and Europe Avoid a Lost Decade? Lessons from Japan’s Post Crisis Experience

Iwai, Katsuhito (2002), The Nature of the Business Corporation: Its Legal Structure and Economic Functions, Japanese Economic Review 53(3), 243-273.

Clark and Ishii (2012) Social Mobility in Japan, 1868-2012: The Surprising Persistence of the Samurai, University of California, Davis



Hiroshi Yoshikawa (2001), The Aging of Society and Fiscal Policy, in Japan's Lost Decade, International House of Japan.

Hoshi, Takeo and Anil K. Kashyap (2004) Costs and Benefits of Keiretsu Financing, in Corporate Financing and Governance in Japan, Cambridge MA: MIT Press

Allen, F. and M. Zhao (2007) The Corporate Governance Model of Japan: Shareholders are not Rulers.

Ito, Takatoshi (2004) Exchange rate regimes and monetary policy cooperation: Lessons from East Asia and Latin America, Japanese Economic Review, 55(3), 240-266,

McKinnon, Ronald, and Kenichi Ohno (1997), Dollar and Yen, MIT Press.

The Becker-Posner Blog (2008, Nov. 16) Bail Out the Big Three Auto Producers? Not a Good Idea.

Hashimoto, Masanori and Yoshio Higuchi (2005), Issues Facing the Japanese Labor Market, in Reviving Japan's Economy, MIT Press.

Raymo, James M. and Miho Iwasawa (2005), Marriage Market Mismatches in Japan: An Alternative View of the Relationship between Women's Education and Marriage, American Sociological Review, 70, October, 801-822.

S Shirahase (2007) The Political Economy of Japan's Low Fertility

Toshimitsu Shinkawa (2006) The politics of pension reform in Japan: Institutional legacies, credit-claiming and blame avoidance, in Ageing and Pension Reform around the World.

1. Contribution to the class discussion, surveys, and micro-presentations - 40% (In-class participation)
2. Weekly forum posts and discussions - 40% (Peer interactions on Hoppii)
3. Final Assignment - 20% (An essay. Details TBA)

Not applicable

1.The intensive perusal of the research and case material before each session is a prerequisite
2.The changes/ updates in the syllabus will be communicated to students during class 1