Programme Aim
In recent years we have seen a rapidly increasing international competition in attracting investment resources. At the global level these resources will increasingly be allocated to those areas that can offer the best return to investors, are politically stable, provide high productivity inputs and offer the most attractive investment incentives and best services.
Almost every country in the world has at least one national investment promotion agency (IPA) and several have sub-national local development agencies whose primary purpose is to seek out, attract and capture the best available investment resources for their development area. There are already hundreds of such organizations worldwide and they appear to be set to multiply. In this respect there is a growing demand for capacity building. Competing successfully in an increasingly global business world requires IPA staff with a good understanding of investor needs, with an ability to develop strategies and policies in creating a suitable environment to attract them, and with the necessary skills required to conduct daily operations efficiently and effectively.
The purpose of this Master of Science programme is to provide a combination of critical and analytical skills in relevant subjects which are underpinned by theoretical and practical knowledge of the key issues in investment promotion and economic development. The strongest theme of the Programme will be the critical assessment and evaluation of investment promotion activities, inputs and outputs in relation to their impact on economic development.
Programme aims
- To develop and enhance specific competence in core and/or specialist areas of study. Specialist modules are selected on the basis of the learner's academic interest and the students present and future career objectives.
- To provide a vehicle for continuing personal and professional development.
- To develop the student’s ability to examine and analyse the impact of the constantly changing environment (local and international) on the organisation and to respond appropriately at tactical and strategic levels.
- To develop insights, critical thinking and management skills necessary to function effectively in an investment promotion and/or economic development role and to widen the perspective of students beyond the limitations imposed by their own experience.
- To promote the development of the intellectual capability, research skills and creative thinking of the student to generate original solutions to investment promotion and economic development problems.
Learning Outcomes
The programme provides opportunities for students to develop and demonstrate knowledge and understanding, qualities, skills and other attributes in the following areas:
Knowledge and understanding
On completion of this programme the student should be able to:
- Evaluate in-depth established and emerging concepts, principles, theories, and philosophies underpinning the broad area of investment and economic development at both the functional and strategic levels.
- Engage critically with and apply emerging and established conceptual tools, techniques and methodologies employed in the diagnosis and resolution of investment and economic development problems, geared to improving performance in increasingly competitive environments.
- Analyse critically those factors affecting the external and internal economic environments at the local as well as the global level.
- Analyse factors influencing success within the context of professional IPED practice.
Skills and other attributes
- Make informed judgements from the synthesis of economic, social and political information (both qualitative and quantitative) derived from a diversity of sources, primary and secondary, with a view to facilitating effective decision making.
- Deal creatively with complex, challenging and multi-layered economic problems and issues, applying appropriate tools and techniques.
- Reflect critically on student’s learning on a continuing basis, integrating academic study and work experience, in the light of established knowledge and practice.
- Present arguments and communicate effectively with subject experts, both academics and practising professionals.
- Work effectively with others to manage the process of tackling and proposing solutions to problems of strategic importance to organisations in a range of industry sectors.
- Work autonomously in the selection, design and execution of individual, problem-based and time-constrained research assignments.
The modules
The choice of modules and their content reflect the range of tasks conducted by Investment Promotion Agencies (IPAs) and related Development Organisations in the course of their core business, as well as the key critical issues and problems confronting them.
Best Practice Investment Promotion & Evaluation
Introduction to the driving forces of Foreign Direct Investment (FDI), current trends, characteristics of a sound investment environment and best policies and practices in investment promotion and monitoring of its impact.
Regional Economic Planning & Finance
Theories and policies of regional and local economic development. Tools to analyse a region or locality. Dynamic theories that focus on mechanisms to encourage the growth of regional economies. Planning and financing methods to implement development objectives.
Investment Promotion & Cross-Cultural Communication
Analysis of intercultural issues relevant to FDI communication and business negotiations. Ways in which Dimensions of National Cultures (DNC) affect communication and Business Negotiation Factors (BNF).
Competitive Advantage & Foreign Direct Investment
Determination of the various elements determining the competitive advantages and disadvantages of a given territory (national and sub-national) in relation to the location of Foreign Direct Investment (FDI) and the optimisation of such advantages within the context of investment promotion and, generally, of development strategies, economic policies and practices.
Business Planning & Financing Direct Investment
Methodology and considerations in developing or evaluating a business plan and ways and sources of
co-financing FDI.
Strategic Decision Making
Analyse the external environment of an organisation, appraise its internal resources, identify how and where value can be created and evaluate different strategic options and methods of implementing the chosen strategy.
Technology Transfer & Foreign Direct Investment
Theory and best practices in establishing conditions and developing processes for optimal transfer of technology in association with FDI.
Economic Development, Investment & Tourism
Determination and critical assessment of strategies used by governments to promote tourism investment; and critical evaluation of the impact of tourism investment on employment, local business development, national economics and the environment.
Project Appraisal
Procedures and techniques used in the appraisal and evaluation of the economic, financial, social and environmental affects of development initiatives and intervention within the context of decision making on proposals and projects in the local economy.
Public Sector Economics
Normative and positive theories of state intervention; public choice and public goods theory; social welfare functions; economics of bureaucracy; principal agent theory; the "new protectionism"; government failure and market failure.
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