The Business, Economics and Public Policy group consists of faculty who research and teach business economics and public policy relevant to managers. Business performance is determined not only by competitive forces within an industry but also by political, social, economic and technological factors that operate at local and international levels. For instance, the global economy creates opportunities for firms to compete in international markets and to source inputs from abroad, but it also exposes them to exchange rate, political and cultural risks; governments determine the regulatory and legal frameworks within which industries operate, affecting the costs to firms of complying with environmental standards, labour laws and taxation policies; organized stakeholders, activists and NGOs can oppose firms seeking to enter new markets or to introduce new products or practices, creating additional sources of policy risk.
Managers who understand the impact of these forces on their firms will gain a competitive advantage through their ability to improve strategic planning on multiple dimensions, including: managing during the economic business cycle; outsourcing to foreign countries; entering new geographic markets; developing government and stakeholder relations.
BEPP faculty conduct research at the nexus of firm strategy, public policy, and managerial economics. Areas of research focus include regulation, non-market strategy, energy and environmental issues, innovation and industrial evolution, and emerging economies. Much of BEPP's research is focused on understanding (both directly and indirectly) how firms can gain a competitive advantage in the context of important political, social, and economic factors. Faculty research is regularly published in top strategy and economics journals, including the Academy of Management Journal, Academy of Management Review, Administrative Science Quarterly, American Economic Journal, Canadian Journal of Economics, Harvard Business Review, Journal of Law, Economics and Organization, Management Science, Organization Science, Review of Economics and Statistics, and Strategic Management Journal.
We teach Ivey undergraduate and MBA students as well as executives. Our core and elective courses prepare students to be more effective managers by providing them with an understanding of the external political, social, economic and technological environments within which firms operate. We train students to think strategically by using economic tools to analyze problems in business and public policy. We also provide a foundation for achieving an improved understanding of the relationship between government and industry, which is critical in an environment in which the public sector influences virtually all private sector transactions. With this training in hand, Ivey graduates are well prepared for success in their future careers.
The BEPP group's expertise in business and public policy issues underpins outreach activities in government, industry, academia and the media. BEPP faculty play a central role in Ivey Energy Policy and Management Centre and in the Lawrence National Centre for Policy and Management at Ivey, both of which bring together public and private sector stakeholders at conferences and workshops to discuss major policy issues. The group also has an established history of providing advice to governments at all levels on public policy issues that directly impact the private sector. Individual faculty are frequent contributors to newspaper, radio and TV media on contemporary economic and policy topics.