Class Title History of Finance for SMEs 1 Course Number...

Class Title：History of Finance for SMEs 1

Instructor： Masatoshi SAKAKI, Takeshi NAKANO Semester：Autumn Course Number: EAC-ACC574 Teaching Language：English 1. Course Objectives and Outline

It is said that the high accounting literacy level in Japanese society is remarkable (e.g. tax return using self-declaration by more than 4 million companies (mainly by SMEs: small and medium enterprises)). This Japanese social infrastructure that supports SMEs has been built and developed since the modernization period in Meiji Era. This history of development in Japan would be very informative for Asian and African countries where need to develop social institutions under the cooperation of the public and private sectors in the rapid economic development.

In this lecture class, we'll introduce the history of finance for SMEs focusing on business administration, accounting and other surrounding systems in SMEs referring to best practice in Japan.

2. Learning Goal The principle goal of this lecture class is to learn essential knowledge to become professionals

who are willing to contribute to the society and organizations through development of business environment of SMEs.

In Japan, after the Meiji Era, a community-based financial system for SMEs developed, and especially after World War II, this financial system conducted by SMEs has played an important function for Japanese economy and industrial development.

Moreover in recent years, with the progress of globalization, it has become easier for some business entrepreneurs who have achieved great success to list their shares to the securities markets and received huge funds to become big companies. However, from the standpoint of SMEs in globes, still we can find many social issues surrounding SMEs finance system. It is indicated that the development of supporting financial system for SMEs has been delayed, and there is a movement to find the key to solve such problems in the financial system.

It is considered that this Japanese best practice of SMEs would provide some important clues for developing SME finance system for many emerging countries.

3. Course Content and Schedule # Topic Contents Reference 1 Introduction of the lecture

course Objective, Outline, Methods, Evaluation

PPT

2 Case of SME Management of Japan (1)

Case studies PPT


Case studies PPT


Case studies PPT

5 Case of SME Legal matters of Japan (1)

Case studies PPT

6 Case of Cross border listing to USA for SME of Japan

Case studies PPT

7 Practice of SME Finance (1) Case studies PPT 8 Practice of SME Finance (2) Case studies PPT 9 Practice of SME Finance (3) Case studies PPT 10 Practice of SME Finance (4) Case studies PPT 11 Practice of SME Finance (5) Case studies PPT 12 Hot topic of SME Finance Case studies PPT 13 Case of SME Legal matters

of Japan (2) Case studies PPT

14 Case of SME Legal matters of Japan (3)

Case studies PPT

15 Wrap-up PPT · Lecture contents are subject to change according to the lecture progress and lecturers’ schedules. · Detail schedule will be informed at the first lecture class. Basic outlines (1) Globalization and its impacts towards SMEs According to the evidence by Japanese Global Automobile industry, it is obvious that Japanese automobile industry is supported by a wide base of small business groups. We’ll learn about its history and characteristics. (2) Basic Institutional Systems surrounding SMEs When we talk about Japanese SEMs’ economic systems, best knowledge surrounding SMEs such as legal and tax systems are mandatory. We’d like to learn the history of various SMEs institutions in Japan, not only its success points, but also from failed points etc. (3) Venture company Unlike the US venture, Japanese venture companies have grown over various difficulties under strict regulations. Current large companies representing Japan started their business originally from ventures, and have grown over the restrictions and overcome the difficult social environment. Regulations are not all evil. It also works as to protect the lives and safety of the people. We would like to tell the Japanese experience of venture companies which have achieved balance between such regulations and growth. 4. Assessment Criteria

Class participation 70% (No show counts for zero points in the final evaluation). Report 30%.

5. Textbook and Reading List · No main textbook specified. · Handouts will be provided in each class. · Reference materials are announced as necessity in the class. Reference(Main) · Teruyuki Kawasaki, Takashi Sakamoto, General Accounting Standards for small-and Medium-

Sized Entities in Japan, Wiley, 2014. Some copies are available at IGSAP office

References : useful websites for study · Japanese tax guide by National tax agency in Japan

https://www.nta.go.jp/foreign_language/ · Japanese Law Translation (in English)

http://www.japaneselawtranslation.go.jp/law/list/?ft=2&re=01&dn=1&yo=%E4%BC%9A%E7%A4%BE%E6%B3%95&ia=03&=&x=78&y=25

· Outline of SEM Policies by the Small and Medium enterprise Agency

http://www.chusho.meti.go.jp/sme_english/index.html · Small Firms in the Japanese Economy

http://www.crosscurrents.hawaii.edu/content.aspx?lang=jap&site=japan&theme=work&subtheme=INDUS&unit=JWORK059

References : Doing Business series · Doing Business in Japan - World Bank Group

http://www.doingbusiness.org/data/exploreeconomies/japan · How to Set Up Business in Japan | Investing in Japan - JETRO

https://www.jetro.go.jp/en/invest/setting_up/

6. Preparation and Review It is encouraged to read reference materials before and after the class.

7. Note（Requirements, E-mail, Office Hour） Email: [email protected]

[email protected] Office hour: After this class

Class Title：Corporate Finance and Cash Flow Management 1 Instructor：Zen-Ichiro Ishibashi

Semester：Autumn Course Number: EAC-ACC577 Teaching Language： English 1. Course Objectives and Outline Instructor’s self-introduction : Hello ! I have built my career as Finance professional and practitioner. I have

experienced three CFO (Chief Financial Officer) positions in the past 20 years at Intel

Japan, D&M Holdings and Toysrus Japan.

I received two MBAs, one from Stanford Business School in the U.S. and another from

Hitotsubashi Business School in Japan. I learned management accounting from Professor

Horngren and corporate finance from Professor Van Horne at Stanford Business School. I

wrote a thesis about corporate finance practice in Japan at Hitotsubashi Business

School.

I have also received several finance professional certification credentials including

CMA (Certified Management Accountant), CFM (Certified in Finance Management) and CSCA

(Certified Strategy and Competitive Analysis) from IMA(Institute of Management

Accountants), UC CPA Certificate from Illinois Accounting Board, US CIA(Certified

Internal Auditor) and Certified Corporate Financial Planning & Analysis Professional

from AFP (The Association for Financial Professionals).

CMA is a professional certification credential in the management accounting and

financial management fields. The certification signifies that the person possesses

knowledge in the areas of financial planning, analysis, control, decision support, and

professional ethics. The CMA is a U.S. based, globally recognized certification offered

by the IMA.

IMA is the worldwide association of accountants and financial professionals in business.

IMA is one of the largest and most respected associations focused exclusively on

advancing the management accounting profession. I am currently a member of IMA global

board.

I am a self-appointed evangelist of CFO profession and FP&A (Finance Planning & Analysis)

profession in Japan. CFO and FP&A as professions are still foreign concept in Japan. I

am currently working with JACFO (Japan Association for Chief Financial Officers) as its

senior research fellow and chief of FP&A projects.

The objective of ‘Corporate Finance and Cash Flow Management’ is to understand the financial decision-making process and to interpret the impact that financial decisions will have on value creation. The class introduces the students to the three major decision making areas in financial management: the investment, financing, and asset management decisions. This class titled ‘Corporate Finance and Cash Flow Management 1’held this fall semester will

cover the following topics : Working Capital Management

Investment in Capital Assets

The Cost of Capital, Capital Structure, and Dividend Policy

2. Learning Goal The first goal is that the students will understand basic concepts of financial decision making process in corporate environments. The second goal is that the students will become familiar with the content of the examinations for ‘CMA (Certified Management Accountants)’ professional credential supported by IMA (Institute of Management Accountants) so that the student may decide to work for his and her certification. The students can apply for CMA scholarship, which is offered by IMA. 3. Course Content and Schedule The class will be held at Hirai campus from 10:30AM to 12:00 Noon on every Saturday from October 5th, 2019 to January 25th , 2020. No class will be held on October 19th and December 28th. 15 classes will be held in total. 1st Class

Date : October 5th, 2019

Topic : Accounts Receivable and Inventory Management

Content : Credit and Collection Policies, Analyzing the Credit Applicant, Inventory

Management and Control

Reference : Word document

2nd Class


Topic : Short-Term Financing

Content : Spontaneous Financing, Negotiated Financing, Factoring Accounts

Receivable, Composition of Short-Term Financing


3rd Class


Topic : Capital Budgeting and Estimating Cash Flows

Content : The Capital Budgeting Process, Generating Investment Project Proposals,

Estimating Project “After-Tax Investment Operating Cash Flows”


4th Class

Date : November 2nd, 2019

Topic : Capital Budgeting Techniques

Content : Project Evaluation and Selection, Potential Difficulties, Project

Monitoring – Progress Reviews and Post-Completion Audits


5th Class

Date : November 9th, 2019

Topic : Capital Budgeting Techniques (2)

Content : Project Evaluation and Selection, Potential Difficulties, Project

Monitoring – Progress Reviews and Post-Completion Audits


6th Class


Topic : Risk and Managerial (Real) Options in Capital Budgeting

Content : The Problem of Project Risk, Total Project Risk, Contribution to Total

Firm Risk, Managerial (Real) Options


7th Class

Date : November 23rd, 2019

Topic : Risk and Managerial (Real) Options in Capital Budgeting (2)

Content : The Problem of Project Risk, Total Project Risk, Contribution to Total

Firm Risk, Managerial (Real) Options


8th Class


Topic : Required Returns and the Cost of Capital

Content : Creation of Value, Overall Cost of Capital of the Firm


9th Class

Date : December 7th, 2019

Topic : Required Returns and the Cost of Capital (2)

Content : Creation of Value, Overall Cost of Capital of the Firm


10th Class

Date : December 14th, 2019

Topic : Operating and Financial Leverage

Content : Operating Leverage, Financial leverage, Total Leverage, Cash-Flow Ability

to Service Debt, Other Methods of Analysis, Combination of Methods


11th Class

Date : December 21st, 2019

Topic : Capital Structure Determination

Content : The Conceptual Look, The Total-Value Principle, Presence of Market

Imperfections and Incentive Issues, The Effect of Taxes, Taxes and Market

Imperfections combined, Financial Signaling, Timing and Financial Flexibility,

Financing Checklist


12th Class

Date : January 4th, 2020

Topic : Capital Structure Determination (2)

Content : The Conceptual Look, The Total-Value Principle, Presence of Market

Imperfections and Incentive Issues, The Effect of Taxes, Taxes and Market

Imperfections combined, Financial Signaling, Timing and Financial Flexibility,

Financing Checklist


13th Class


Topic : Dividend Policy

Content : Passive versus Active Dividend Policies, Factors affecting Dividend

Policy, Dividend Stability, Stock Dividends and Stock Splits, Stock repurchases,

Administrative Considerations


14th Class


Topic : Dividend Policy (2)

Content : Passive versus Active Dividend Policies, Factors affecting Dividend

Policy, Dividend Stability, Stock Dividends and Stock Splits, Stock repurchases,

Administrative Considerations


15th Class


Topic : Final Examination

Content : The subjects covered in the previous 14 classes.

4. Assessment Criteria (1) 50% : Attendance and class contribution account for 40% and 10% of the course grade respectively.

(2) 50% : Final examination accounts for 50% of the course grade. Final examination will be held on January 25th , 2020.

Evaluation will be conducted in accordance with absolute assessment criteria. 5. Textbook and Reading List James C. Van Horne, John M. Wachowicz, Jr, Fundamentals of Financial Management,

Thirteenth edition published by Pearson Educated Limited in 2009. (Indian edition with same content was also published by Pearson India Education Service PVT, Ltd in 2016.)

6. Preparation and Review Pre-reading and review of assigned chapter of the textbook is required. Pre-reading and review

of assigned chapter may take an average student 3 hours per week. 7. Note（Requirements, E-mail, Office Hour） (1) Please bring a calculator. (2) E-mail : [email protected] (3) Office Hour : By appointment

mailto:[email protected]

Class Title：Scoring Model 1 Instructor Masumi Nakashima, Ph.D. Semester：Autumn Course Number: EAC-ACC576 Teaching Language： English 1. Course Objectives and Outline

This course provides a comprehensive framework for business analysis and valuation by using financial statement

information. Students can learn not only the concepts and principles for evaluating a firm’s financial performance

and predicting its future economic condition but also tools for the financial statements analysis. Topics are covered:

Strategy Analysis, Accounting Analysis, Financial Analysis, and Prospective Analysis. The goal is to understand the

basic principles of fundamental analysis and to obtain skills and techniques to analyze the financial statements and

determine the fundamental value.

2. Learning Goal

The goal is to understand the basic principles of fundamental analysis and to obtain skills and techniques to analyze

the financial statements and determine the fundamental value.

3. Course Content and Schedule

Classes are to be held on October 20, 13:00-21:10, November 10, 13:00-21:10, and December 1, 13:00-21:10, in

2019. This course has 15 classes in total. The following is the tentative schedule of this course.

4. Assessment Criteria

(1) Contribution to class 10%,

(2) Assignments 15%

(3) Analysis Paper 50%, and

(4) Presentation 25%.

5. Textbook and Reading List

#1 Business Analysis Valuation: Using Financial Statements, Krishna G. Palepu and Paul M. Healy 5th edition, 2013. South-Western College Publishing (ISBN-10: 1111972303 | ISBN-13: 978-1111972301). #2 Earnings Management and Earnings Quality: Evidence from Japan, Masumi Nakashima, 2015, Hakuto Shobo Publishing (ISBN: 9784561362104) The above textbooks are to be stored at the classroom at Hirai. http://www.hakutou.co.jp/book/b194409.html Supplemental materials 6. Preparation and Review

You should read the chapter before class and work on assignment after class in order to enhance your understanding

the class content.

7. Note（Requirements, E-mail, Office Hour）

Instructor: Masumi Nakashima, M.B.A., Ph.D.

Adjunct Instructor at Tohoku University IGSAP

Email: [email protected]

[email protected]


Office hours: By appointment

Class Topic Contents Readings

October 20, Sun, Period 1

Guidance Students should understand the course objective, course

materials, schedule, and grading of this course.


How to use

database (1):

Nikkei NEEDS

learning

Students should understand how to obtain financial

statement data in Japanese public firms through

NIKKEI NEEDS.

Handout

materials


How to use

database (2): eol

database learning

Students should understand how to obtain financial

statement data in Japanese public firms through aol

datablase.

Handout

materials


Framework for

business analysis

and valuation

Students learn a comprehensive framework for business

analysis by using financial statement information.

Read Chapter 1

in #1 Palepu

and Healy


Strategic analysis Students understand how to evaluate the economic

condition of a firm and to identify the firm’s profit

drivers and key risks. If students obtain the skills, he or

she can assess the sustainability of the firm’s operations

and to forecasts its future performance.

Read Chapter 2

in #1 Palepu

and Healy

November 10, Sun, Period 1

Accounting

analysis:

Earnings

management

Numbers Game

Students learn how to analyze the degree of distortion

in a firm’s accounting numbers. Students need to

understand earnings management: accruals

management by employing accruals.

Chapter 3 #1

Palepu and

Healy

Read #3 Jones

(1991)


Accounting

analysis:

Students learn how to analyze the degree of distortion

in a firm’s accounting numbers. Students need to

understand two kinds of earnings management: real

management by using cash flows.

Chapter 4 in #1

Palepu and

Healy

Read #4

Roychowdhury,

(2006).


Earnings quality 1

Students learn how to assess earnings quality such as

accruals quality, discretional accruals, and accuracy for

future cash flows.

Read #2

Earnings

Management

and Earnings

Quality

(Nakashima

2015)


Earnings quality 1

Students learn how to assess earnings quality such as

accruals quality, discretional accruals, and accuracy for

future cash flows.

Read #2

Earnings

Management

and Earnings

Quality

(Nakashima

2015)


Financial analysis:

ratio analysis

Students understand financial analysis such as ratio

analysis. Ratio analysis involve assessing how the items

in a firm’s financial statements are related to one

another. Also, the ratio analysis focus on examining a

firm’s income statement item such as net profit margin

and its balance sheet item such as asset turnover and

financial leverage.

Read Chapter 5

in #1 Palepu

and Healy

December 1, Sun, Period 1

Financial analysis:

cash flows

analysis.

Cash flow analysis involves evaluating the firm’s

financial flexibility and liquidity, and how the firm

manages the cash flows from operating, investing, and

financing respectively. Cash flow analysis also provides

an indication of

the quality of the information in the firm’s income

statement and balance sheet.

Read Chapter 5

in #1 Palepu

and Healy


Prospective

analysis:

Forecasting

We focus on forecasting future performance. Students

learn a comprehensive forecasting approach. Students

need to understand the approach to focus on projecting

condensed financial statements.

Read Chapter 6

in #1 Palepu

and Healy


Prospective analysis for valuation theory and concepts

Valuation based on price multiples and discounted dividends should be focused.

Read Chapter 7 in #1 Palepu and Healy


Paper presentation Paper submission due prior to presentations regarding

their selected firm analysis. Students present the paper.

Presentation by

PPT is

encouraged.


Discussion Discuss the paper. Discussion by

PPT is

encouraged.

2019 IGSAP Syllabus Environmental Issues and Sustainable Development

Class Title: Environmental Issues and Sustainable Development Instructors: Shinichi ARAI, Masahito KUSE, Masami TSUJI, Keiichi USHIJIMA Semester: Autumn Course Number：EAC-ECM571 Teaching Language : English 1. Course Objectives and Outline It is apparent that the human activities are impacting the earth systems increasingly

seriously and we should recognize the “planetary boundary” in this century. The international community agreed on Sustainable Development Goals (SDGs) for 2030 and Paris Agreement to take measures against climate change, in order to transform our current mass production-mass waste-oriented society to the sustainable society. In these approaches, the roles of private sector are important, and many companies are joining, e.g. the RE100 (Renewable Energy 100%) project and SBT (Science Based Target) initiative. Also, in the financial market, ESG (Environmental, Social and Governance) investment and fund raising by Green Bonds are becoming popular and future prosperity of companies are increasingly evaluated by their sustainability. For developing countries, they will be able to take “leap-frogging approaches” to the sustainable society by learning experiences of developed countries and introducing environmentally friendly technologies and funds which fit for their individual conditions. In this context, the lecture presents overviews and issues, and discusses on the

following: - Measures and actions for sustainable development including those based on

corporate social responsibility (CSR) by various stakeholders such as business entities and international organizations, which play a pivotal role for materializing sustainable society. Recent streams of CSR such as ESG investment, Recommendations by FSB TCFD (Financial Stability Board, Task Force on Climate Related Financial Disclosure), and Green Bonds. - Approaches to achieve Sustainable Development Goals (SDGs) and Carbon-free

Society required by Paris Agreement of the UN Framework Convention on Climate Change (UNFCCC) by the international community as well as by private sectors, such as RE100 and SBT. - Legal systems including environmental impact assessment (EIA) systems, based on which projects are assessed and implemented to promote SDGs and sustainable development in developing countries - Development projects and their environmental impacts in Asian countries, which

will contribute to achieving sustainable development and SDGs - Japan’s experience to overcome serious environmental pollution and its approaches

to achieve sustainable society, which will be useful for developing countries in trying leap-frogging for sustainable development

2. Learning Goal - To understand the recent activities and future roles of the business and financial sectors in achieving sustainable development, as well as the concept of sustainable development and its implications to CSR, ESG investment and other financial issues including climate-related financial disclosures - To obtain basic knowledge and capacity which are useful for promoting green

economy and SDGs in financing and auditing in developing countries and international community - To consider better social actions and measures in the future to achieve a sustainable

society taking into account specific situations in a local area, country, region and in the global scale as well as those in specific sectors such as financing sectors including financing management department of companies - To understand history of environmental pollution problems in Japan, legal systems including environmental impact assessment systems and cases of environmental assessment of projects in Asia

2. Course Contents and Schedule Class time : Saturday 13:00-14:30 ( October 2019 ~ January 2020） 15 classes in total

A few classes might be skipped and/or rescheduled to other days, but it will be announced beforehand.

Note: Year End and New Year Holidays (27th Dec.2019-3rd Jan.2020) Classroom： IGSAP Classroom in Hirai

4-6-3 Hirai, Edogawa-ku, Tokyo, Japan 132-0035 http://www.econ.tohoku.ac.jp/econ/IGSAP/english/access/

Contents and Lecturers are presented in the table attached. 4. Assessment Criteria (1) 30%: Attendance, active participation in discussion and response paper of each class Response paper: At the end of each class (for ca. ten minutes), students will write and submit a very brief paper (one page at the longest, A5 sheet) on his/her comments and views on the issues introduced by the lecturers. (2) 70%: Reports on each of the following 4 topics (details will be provided in classes)

1. Business activities in harmony with environmental protection and sustainability 2. Environmental law and administration in Japan and/or Asian countries, such as

Environmental Impact Assessment (EIA) systems 3. Development projects in various countries, and their environmental impacts and

management 4. Approaches to achieve SDGs and Carbon-free society by Japan and the

international community 5．Textbook and Reading List

See the list of references attached. 6. Preparation and Review Please read seriously the PPT files, which will be uploaded on IGSAP HP before the classes. 7. Note (requirements, E-mail, Office Hour) E-mail: [email protected]

Table: Environmental Issues and Sustainable Development Schedule Number

Date

Topic Lecturer Content (to be confirmed) Reference

1

5th Oct. 2019

Orientation, 1.Overview of Japan’s Environmental Policy against Pollution and for Conservation

Shinichi ARAI

- Objective, Outline, Method and Evaluation of the class

- Japan’s Environmental Policy

-- Introduction of the five phases of Japan’s environmental policy since Meiji Era

-- Presentation of Japans’ experience to overcome environmental pollution by a DVD

-- Discussion

PPT , DVD, Reference*1

2

12 th Oct.

2-1 Environmental Law and Administration in Japan and Asian Countries, Focusing Environmental Impact Assessment (EIA) Systems

MasahitoKUSE

- - Structure, features, and enforcement situation of Japanese environmental laws and those of Asian countries, in particular, environment impact assessment laws, will be introduced. Further, env. social considerations input aspect and human rights empowerment aspect will also be studied. - Roles and functions of EIA as one of the powerful environmental management tools will discussed.

PPT Reference 2

3

19th Oct.

2-2 ditto

M. KUSE

See 2-1 (12th Oct.) -

PPT Reference 2

4

26th Oct.

2-3 ditto

M.KUSE See 2-1 (12th Oct.) -

PPT Reference 2

5 2nd Nov.

3-1 Approaches to achieve low carbon and sustainable societies in Japan and the international community

S. ARAI - Introduction of --international approaches such as Sustainable Development Goals（SDGs） --Japan’s domestic actions including Basic Environment Plan, Education for Sustainable Development and revitalization of local areas - - Discussion

PPT Reference 3

6 7th Nov.(Note.1)

4-１ Sustainable Business Management and CSR

Keiichi USHI- JIMA

- Hard law and soft law - Disclosure and

competitive advantage Group discussion

PPT

7 14th Nov. (Note.1)

4-2 ditto K. USHI- JIMA

- Creating shared value - Integration of

sustainability into business strategy

Group discussion

PPT

8

23th Nov.

3-2 Approaches to achieve low carbon and sustainable societies in Japan and the international community

S. ARAI 1.Science of Climate Change Intergovernmental Panel on Climate Change (IPCC) and its Fifth Assessment Report - Introduction of International Regime Coping with Climate Change -- United Nations Framework Convention on Climate Change (UNFCCC), Kyoto Protocol and Paris Agreement 2.Measures for Low Carbon Society - Climate Change and Energy Policies by countries and Institutions -- EU, US, China --Japan’s actions against Climate Change -- Initiatives by the private sector and other stakeholders

PPT Reference 4,5

e.g. RE100 project, SBT Initiative - - Discussion

9 28thNov.(Note 1)

4-3 Sustainable Business Management and CSR

K.USHI- JIMA

- ESG Investment and Integrated Report TCFD (Task Force on Climate-related Financial Disclosure)

- Group Discussion *Homework ; analysis of companies’ disclosure

PPT Reference 6

10 5th Dec. (Note.1)

4-4 ditto

K. USHI- JIMA

- Case study and group discussion （discussions will be made by using the Homework）

11

12th Dec. (Note.1)

4-5 ditto

K. USHI- JIMA

- Paris Agreement and global trends (SDGs、carbon pricing, EV shift etc.) - Group Discussion

12

21th Dec.

5-1 Development Projects in Asian Countries, and Their Environmental Impacts and Management

Masami TSUJI

Together with several case studies, issues on the system and implementation of environmental impact assessment for development projects in Asian countries will be discussed.

PPT Reference 7

13

4th Jan. 2020

5-2 ditto M.TSUJI Same as above ditto

14

11th Jan.

5-3 ditto M.TSUJI Same as above ditto

15 18th Jan.

Discussion and Wrapping-up (Note.2)

S.ARAI, M.KUSE, M.TSUJI K.USHI- JIMA

Questions and Discussions on the topics, in general. (Note )

PPT

Note 1: Date and time will be changed depending on availability of the lecturer (Lectures by Mr. Ushijima will be held at18:00-19:30 on Thursdays, not at 13:00-14:30 on Saturdays). The changes will be announced through e-mail etc. well in advance. Note 2: Following to the initial plan, all the lecturers will attend the wrap-up class on 18th

January 2020 and respond to questions submitted by students in advance. Discussions among lecturers will be held if they are considered useful for understanding the issues by students. However, depending on the situation, a lecture on a special topic (e.g. climate change ) might be provided. Reference 1 *： Shinichi ARAI, 2014, Chapter 5 Japan’s Endeavors to Reduce Environmental Pollution and Create a Sustainable Society, Takao Sasaki ed. Lectures on Environmental Policy, Hokkaido University Press, Sapporo Japan, p205, ISBN 978-4-8329-0369-2 Reference 2: (1) The World Bank. “Strategic Environmental Assessments in East Asia and Pacific Region”(authored by Jiri Dusik & Jian Xie）, 2009. http://siteresources.worldbank.org/INTEAPREGTOPENVIRONMENT/Resources/SEAprogressreviewinEAPFINAL.pdf#search='Strategic+Environmental+Assessments+in+East+Asia+and+Pacific+Region' (2) The World Bank. “Environmental Impact Assessment Regulations and Strategic Environmental Assessment Requirements Practices and Lessons Learned in East and Southeast Asia, 2006. http://documents.worldbank.org/curated/en/2006/04/8314184/environmental-impact-assessment-regulations-strategic-environmental-assessment-requirements-practices-lessons-east-southeast-asia (3) Ministry of the Environment. ”Environmental Impact Assessment in Japan,” https://www.env.go.jp/en/policy/assess/pamph.pdf#search='Environmental+Impact+Assessment' Reference 3: UNSDGs https://sustainabledevelopment.un.org/topics/sustainabledevelopmentgoals Reference 4: (1) IPCC 5th Assessment Report (AR5), Summary for policy makers http://www.ipcc.ch/pdf/assessment-report/ar5/syr/AR5_SYR_FINAL_SPM.pdf (2) Paris Agreement at UNFCCC http://unfccc.int/resource/docs/2015/cop21/eng/l09r01.pdf Reference 5: Annual Report on the Environment 2018 http://www.env.go.jp/en/wpaper/2018/index.html Reference 6*： Financial Stability Board - Task Force on Climate-related Financial Disclosure https://www.fsb-tcfd.org/ Reference 7:

Asian Development Bank. “Safeguard Policy Statement” (http://www.adb.org/documents/safeguard-policy-statement?ref=site/safeguards/publications)

Class Title: Public Policy Formation in Practice 1 | Instructor: Dr. Ryan Hartley | Semester: Autumn

Course Number: EAC-ECM574

Teaching Language：English

1. Course Objectives and Outline

The course’s goal is to introduce the study of Public Policy with a particular focus on both theoretical and practical

dimensions. This means: (1) understanding the historical and conceptual pre-cursors to approaching public policy; (2)

coming to terms with differing approaches to public policy, in terms of typologies, frameworks, and theories; and (3)

grasping the various methods of analyzing public policy, ranging from the traditional to the non-mainstream.

Topics are organised into ‘7 x two-class’ themes. The seven themes are: (1) Introduction to Public Policy, (2) Policy,

Power, and Politics, (3) Mapping the field of Public Policy, (4) Theorising Public Policy, (5) Analysing Public Policy, (6)

The Policy Cycle, and (7) Beyond the Policy Cycle. Therefore for each of these seven themes, two intra-thematic topics

will be explored.

2. Learning Goal

In this class, the lecture format is primarily relied on. I expect students to actively participate in lectures and not simply

passively listen. This means being part of what might be called a ‘strongly led discussion’ rather than a passively received

lecture. You will be expected to question and critically engage with what you will hear.

With these learning goals in mind, each class will follow the same structure: 50-60 minute lecture, and 20-30 minute Q/A.

Not only will this help develop a broad range of learning skills and consolidate the knowledge you will be receiving, you

will be being assessed on your participation during this time.

You will also be assessed on the basis of a written output (an essay) and a verbal output (presentation). Both essay and

presentation will be on the same topic. The topic will be an analysis of (a) a policy of your choice in (b) a country of your

choice at (c) a time period of your choice. You will work on the development of your choice of this topic through discussion

with your teacher. The deadline for both will be January 18th. THIS DEADLINE MUST BE MET AND NO EXCUSES

WILL BE ACCEPTED.


You can find this syllabus here - http://tinyurl.com/zd97y7w and the readings for the seminar class here -

http://tinyurl.com/zpfzpe4

Class Date/Time Theme Topic

1

Saturday, October 5th, 14.40-16.10

Introduction to Public

Policy

What is Public Policy?

2

Saturday, October 12th, 14.40-16.10 Historical Contexts

3

Saturday, October 19th, 14.40-16.10 Policy, Power, and Politics

Power and Policy

http://tinyurl.com/zd97y7w

http://tinyurl.com/zpfzpe4

4

Saturday, October 26th, 14.40-16.10

Government Systems and Ideologies

5

Saturday, November 2nd, 14.40-16.10

Mapping the field of Public

Policy

Typologies

6

Saturday, November 9th, 14.40-16.10 Policy Types

7

Saturday, November 16rd, 14.40-16.10

Theorising Public Policy

Theoretical Approaches

8

Saturday, November 23rd 14.40-16.10 Agents and Structures, Rationality

and Ideas

9

Saturday, November 30th, 14.40-16.10

Analysing Public Policy

Policy Analysis

10

Saturday, December 7th, 14.40-16.10 Institutions, Groups, Exogenous

Shocks, Actors, and Ideas

11

Saturday, December 14th, 14.40-16.10

The Policy Cycle

The Policy Cycle

12

Saturday, December 21st, 14.40-16.10 Stages of the Policy Cycle

13

Saturday, January 4th, 14.40-16.10

Beyond the Policy Cycle

Alternatives to the Policy Cycle

14

Saturday, January 11th, 14.40-16.10 Public Policy in a Global Context

15

Saturday, January 18th, 14.40-16.10 Presentations and Essay deadline

※ There is no class on Saturday 28th December.


(1) 20%: Attendance, class performances, and group work.

(2) 40%: Essay, 2000-3000 words (deadline – class 15, January 18th)

(3) 40%: Presentation and leadership (deadline – class 15, January 18th)


* Adachi, Yuko., Hosono, Sukehiro. & Iio, Jun. (2015) Policy Analysis in Japan. University of Bristol: The Policy Press

(International Library of Policy Analysis)

* Anderson, James. E. (2003) Public Policymaking: An Introduction. Boston: Houghton Mifflin

* Birkland, Thomas, A. (2016) An Introduction to the Policy Process: Theories, Concepts, and Models of Public Policy

Making. New York & London: Routledge (4th ed.)

* Cairney, Paul. (2012) Understanding Public Policy: Theories and Issues. London: Palgrave Macmillan

* Fischer, Frank., Miller, Gerald. J. & Sidney, Mara. S. (2007) Handbook of Public Policy Analysis: Theory, Politics, and

Methods. Boca Raton, London, New York: CRC Press

* Heywood, Andrew. (2012) Politics. Hampshire and New York: Palgrave Macmillan (2nd ed.)

* John, Peter. (2012) Analyzing Public Policy. Oxon & New York: Routledge (2nd ed.)

* Knill, Christoph. & Tosun, Jale. (2012) Public Policy: A New Introduction. London: Palgrave Macmillan

* Kraft, Michael. E. & Furlong, Scott. R. (2012) Public Policy: Politics, Analysis, and Alternatives. California, London:

Sage Publications Ltd.

* Lister, Ruth. (2012) Understanding Theories and Concepts in Social Policy. University of Bristol: The Policy Press

* Moran, Michael., Rein, Martin. & Goodin, Robert E. (2006) The Oxford Handbook of Public Policy (Oxford

Handbooks). Oxford: Oxford University Press

* Sebatier, Paul. A. & Weible, Christopher, M. (2014) Theories of the Policy Process. Boulder, Colorado: Westview Press

(3rd ed.)

6. Preparation and Review

Students are expected to attend and participate actively in lecture time, and to complete written and spoken assignments

on time and to a high standard.

7. Note（Requirements, E-mail, Office Hour）

Email contact: [email protected]


Class Title：Japanese Business Communication 3 Instructor：Yoko Suga Semester：Autumn

Course Number: EAC-ECM690 Teaching Language：Japanese, English <Note: This course is for JLPT N2~N1, N1, N1～ level students. (But I would adjust the level of contents according to the students who attend the class 3 this semester.)

As usual the students can join my class without the course registration because of the ceiling of credits. Please register the major subjects as priority considering the ceiling of 34 credits/year.> 1. Course Objectives and Outline

The world is becoming more globalized in a variety of areas. It is essential to enhance the flexibility and effectiveness as an organization, paying due respect to the diversity of staffs. But various problems and frictions are occurring at the workplace where foreign people and Japanese people work together. It is expected that IGSAP students will be the international leaders in the future.

It is necessary for the students to accept this reality seriously, and acquire the knowledge and ability to find problems that could occur in the global work place.

In this course we focus on how to find and solve cultural frictions in the global work place. 2. Learning Goal

The learning goal is enable enrolled students to cultivate problem-solving skills and relation adjustment in the global work place. Besides that, it is expected to form their own thought and philosophy more or less.


# Topic Contents

1 Orientation

CASE STUDY 00

Introduction of the course

About CASE STUDY, Role Play (Class Activity)

2 CASE 01 Still 9:30…A slight difference of Japanese

expression can cause misunderstanding.

3 CASE 02 My boss should have left it to me ...Why?

4 CASE 03 It can’t be changed. Why?

5 Presentations CASE 01-03

6 CASE 04 Prove to be disappointing…Why?

7 CASE 05 “Report, Contact, Discuss”…Why is it so important

in Japan? What you need as a leader.

8 CASE 06 Immediate delivery is hard…Why?


10 CASE 07 Level of completeness.

11 CASE 08 Don’t change anymore.


13 CASE 09 Read the atmosphere and mood. How?

14 CASE 10 The result is the same, but why a leader would focus

on the procedure well?

15 Wrap up Review CASE 01-CASE 10


It is expected to attend the class regularly, participate actively in class and do all

assignments. And please follow the rules in the class.

-Attendance, Role play =35%

-Assignment, Preparation=30%

-Presentation=35%


-ビジネスコミュニケーションのためのケース学習:職場のダイバーシティで学び合う(2015)ココ出版

ISBN 978-4-904-59537-4

This textbook is developed with the aid of the “case method” used at Harvard Business

School. This is a new Japanese textbook that aims to not the acquisition of Japanese language

itself, but the ability to solve problems that occur in the field of business and achieve tasks, and

the ability to work with people with different ways of thinking without compromising human

relationships.

6. Preparation and Review Please read the materials carefully and check new vocabularies and phrases in advance.

7. Note（Requirements, E-mail, Office Hour） Rules in Class for keeping our effective learning environment.

1) Arrive on time 2) Be ready to learn 3) Use manners as an adult 4) Set the cell-phone to silent mode (If possible, turn off the cell-phone) 5) No food, no smell of food. Drink is O.K. 6) Be respectful to your classmates and teachers 7) Take risk and make mistakes 8) Raise your hands (But in case you would go to restroom during my lesson, it is O.K that you could raise your pocket tissues without any words.) 9) Properly throw the trash away in the trash can, we keep our classroom clean 10) Stick to the submission date 11) Never sit on the desk

Office Hour: Students can contact me anytime via email.

Class Title：Cross Section of Multiculture 1 Instructor： Prof. Takashi ABE

Semester：Autumn Course Number: EAC-ECM677 Teaching Language： English 1. Course Objectives and Outline Lunyu, or The Analects of Confucius, has probably exercised a greater influence on the history and culture of the Japanese people than the Chinese people. Not only has it shaped the thought and customs of Japan up to the present time, but also it has still played a key role in the development of Japan as Shinto and Buddhism ideas have done so. The passage of the text is open to a number of interpretations because it has brief collection of aphorisms and historical anecdotes. Students should have a profound understanding of the thought by a first philosopher in human history.

This lecture reflects the firm belief that to have an excellent knowledge of classical Confucianism shall be for the better understanding of Japan. 2. Learning Goal By the end of the course, students are expected to able to acquire clear understanding to Japanese culture and customs by learning a type of virtue in Confucianism, called perfect virtue. 3. Course Content and Schedule Class is to be held every Saturday at Classroom #1, 8:50 – 10:20 from October 5, 2019 To January 18, 2020; 15 classes in total.

Timetable of Classes

Date Topic Contents/themes

1 5 Oct. Orientation Objective, Outline, Method, Evaluation,

2 12 Oct. Analects of Confucius Book 1 3 19 Oct. Analects of Confucius Book 2 4 26 Oct. Analects of Confucius Book 3 5 2 Nov. Analects of Confucius Book 4 6 9 Nov. Analects of Confucius Book 5 7 16 Nov. Analects of Confucius Book 6 8 23 Nov. Analects of Confucius Book 7 9 7 Dec. Analects of Confucius Book 8 10 14 Dec. Analects of Confucius Book 9 11 21 Dec. Analects of Confucius Book 10 12 28 Dec. Analects of Confucius Book 11 13 4 Jan. Analects of Confucius Book 12

14 11 Jan. Analects of Confucius Book 13 15 18 Jan. Analects of Confucius Book 14


(1) Contribution to classes 50% (2) Short essays 50%


The Analects of Confucius, Arthur Waley (Reissue Edition) 1989/8/28 The Analects of Confucius (Translations from the Asian Classics), Burton Watson (Columbia Univ

Press) 2009/11/1 Confucius: A Life of Thought and Politics, Annping Chin (Yale University Press) 2008/2/1


Students are expected to participate in a Lunyu Study Society which will be held in Edogawa City. 7. Note（Requirements, E-mail, Office Hour） Any IGSAP student who is interested in various issues in Japanese history and culture will be welcome to this lecture course. Office hours can be booked via email: [email protected]


Class Title：RST: Tax Accounting 2 Instructor：Yiuwai Wong Semester：Autumn Course Number: EAC-ACC680 Teaching Language： English 1. Course Objectives and Outline Cases of accounting frauds (Enron, Olympus, Toshiba, etc.) will be used as materials of this course. Students can learn the solutions of accounting issues through understanding the cases. Students who write research papers can also attend this RST1 in addition to Seminar Class and they can get some hints of your papers. 2. Learning Goal Students can understand cases of accounting fraud and some accounting issues. 3. Course Content and Schedule No. Date Theme Materials, etc. １ 2/Oct/2019 Orientation Guidance ２ 9/Oct/2019 Accounting Fraud

Introductions of Enron, Livedoor, Olympus, Toshiba

Accounting Fraud Introductions of Enron, Livedoor, Olympus, Toshiba

３ 23/Oct/2019 Enron Scandal (1) Company outline Structure of accounting fraud

Presentation by students

４ 30/Oct/2019 Enron Scandal (2) Role of board of directors Andersen as auditor


５ 6/Nov/2019 Enron Scandal (3) Sarbanes and Oxley Act

Student presentation and discussion

６ 13/Nov/2019 Livedoor Case (1) Company outline M&A by Horiemon


７ 20/Nov/2019 Livedoor Case (2) Financial techniques Special purpose corporations


８ 27/Nov/2019 Livedoor Case (3) M&A of Nippon Broadcasting Co.Ltd by Horiemon


９ 4/Dec/2019 Olympus Case (1) Company outline Japanese Bubble Economy in 1980s


１０ 11/Dec/2019 Olympus Case (2) Change Presentation by students

of accounting policy by Financial Service Agency = Convergence in 1990s

１１ 18/Dec/2019 Tobashi and M&A to hide and remove loss


１２ 8/Jan/2020 Company outline M&A of Westinghouse Whistle-blowing


１３ 15/Jan/2020 Earnings Management Legal or illegal? What is a watch dog doing?


１４ 22/Jan/2020 Future of Toshiba Future of EY Shinnihon


１５ 29/Jan/2020 Wrap up Wrap up 4. Assessment Criteria Frequency and quality of remarks in class (50%)

Presentations and papers (50%) 5. Textbook and Reading List (1) Reports of Independent Committee (Olympus and Toshiba)

(2) Related articles on the website (3) Related accounting standards (IAS and IFRS) 6. Preparation and Review

Students are required to prepare for the presentations assigned 7. Note（Requirements, E-mail, Office Hour） [email protected], 9:30-18:30 Wednesday


Class Title：RST: Global Politics 2 Instructor：Prof. Hitoshi OHNISHI Semester：Autumn Course Number: EAC-ECM681 Teaching Language： English 1. Course Objectives and Outline The aim of this course is to intensively consider and discuss several specific major issues in contemporary international and domestic politics. 2. Learning Goal Any IGSAP student who is interested in public policy and likes intellectual dialogues will be welcome to this RST course. The student who enrols for the course is expected to develop his/her capabilities to analyze politics and her/his own original ideas on it. Above all, every student is strongly encouraged to be engaged in frank and heated discussions with fellow students and the supervising professor in class. 3. Course Content and Schedule

The course will be given at 14:40-16:10 on Tuesday from the beginning of October in 2019 to the end of January in 2020.

Each student who enrols for the course, first, has to choose a specific problem of his/her interests in international or domestic politics. She/he is, then, requested to make an oral presentation on why he/she is interested in the problem, and finally, submit a term paper to argue how the problem should be understood and/or solved.

A detailed schedule for the course will be fixed in the first class on 8 October. 4. Assessment Criteria

Attendance 35% Frequency and quality of remarks in class 35% Presentations and papers 30%

5. Textbook and Reading List Textbook: John Baylis, Steve Smith, and Patricia Owens (eds.), The Globalization of

World Politics: An introduction to international relations 6th edition, Oxford

University Press, 2014

6. Preparation and Review See 3. 7. Note（Requirements, E-mail, Office Hour）

The students who wish to enrol for the course have to be present without fail in the first class on Tuesday, 8 October, where a detailed orientation will be provided.

Class Title：Seminar Class on Tax Accounting 2a Instructor：Yiuwai Wong

Semester：Autumn Course Number: EAC-ACC687 Teaching Language： English 1. Course Objectives and Outline This seminar course is offered exclusively to those students who intend to submit their

research papers on themes mainly in the field of Accounting, in order to complete their IGSAP MA degree courses. 2. Learning Goal In the seminar course, the students are expected to conceive clear consciousness of why and on

what they are going to argue in their research papers and develop their capabilities and skills required to write excellent academic papers, through discussions in class and guidance provided by the supervisor. 3. Course Content and Schedule Course Content of Seminar Class 2a: Senior students who will submit a research paper in the

field of accounting next semester must attend this Seminar Class and Seminar Class on Tax Accounting 2b. You need to submit your final research paper after this semester. Double Degree (DD) students who have already returned to the home institutions must correspond to Professor Wong every week and report the progress by email. Other students who will write a research paper at this semester must attend the guidance for research paper. The date of the guidance will be announced from IGSAP office. Schedule: 15 times 4. Assessment Criteria Attendance (30%)

Frequency and quality of remarks in class (40%) Presentations (30%)

5. Textbook and Reading List Related papers of prior study 6. Preparation and Review Reading related papers beforehand and making draft of a research paper 7. Note（Requirements, E-mail, Office Hour） [email protected], 9:30-18:30 Wednesday


Class Title：Seminar Class on Modern Public Policy 2a Instructor：Prof. Hitoshi OHNISHI Semester：Autumn Course Number: EAC-ECM687

Teaching Language： English

1. Course Objectives and Outline

This seminar course is offered exclusively to those students who intend to submit their research papers on themes mainly in the field of public policy, in order to complete their IGSAP MA degree courses.

Every student who intends to submit a research paper in 2020 and whose supervisor is Prof. OHNISHI has to take this seminar course in class or via internet without fail. Otherwise, IGSAP can’t accept any research paper he or she is going to submit in 2020.

2. Learning Goal

In the seminar course, the students are expected to conceive clear consciousness of why and on what they are going to argue in their research papers and develop their capabilities and skills required to write excellent academic papers, through guidance provided by the supervisor.


The seminar course, in principle, will be given at 16:20-17:50 on Tuesday from the beginning of October in 2019 to the end of January in 2020. A detailed schedule will be fixed in the first class on 8 October.


Attendance 35% Frequency and quality of remarks in class 35%

Presentations and papers 30%


Readings will be advised in class or via internet.


See 3. 7. Note（Requirements, E-mail, Office Hour）

Every student who enrols for the seminar course in class is requested to also take RST: Global Politics 2, which will be given at 14:40-16:10 on Tuesday from the beginning of October in 2019 to the end of January in 2020. Accordingly, the students, except those who take this seminar course via internet, have to be present without fail in the first class of RST 2, which will start at 14:40 on Tuesday, 8 October. An orientation towards the seminar course will immediately follow the first class of RST 2.

In the case of students who enrol for the seminar course via internet, an orientation will be provided via internet.

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