18 August 2017
Trust and Economic Performance – An Economics and Management of Trust Approach
Since the late 1970s trust problems increasingly attract the attention of scholars and practitioners in economics and management science. Theoretical developments in these disciplines, the insights and experience of both theorists and practitioners that trust building and destruction of trust have an impact on economic performance and the outbreak of the credit crises in 2008 can explain this observation.
The credit crisis in 2008 has led to a serious political and economic trust crisis which significantly retarded the recovery of mainly western economies. Restoring trust in markets, firms and other institutions has to rely on insights from economics and management science into the role of trust in developed and developing market economies. Economics and management science have independently developed their own approaches to trust. An integration of the different approaches is lacking but warranted not the less because markets, firms and other non-market institutions are linked and because an integration of the different perspectives asks for a multidisciplinary approach to trust.
The course Trust and Economic Performance – An Economics and Management of Trust Approach aims at providing a more fully developed economic and management account of trust that allows the impact of trust on economic performance to be analyzed from an integrated economics and a management perspective.
The course consists of an introductory, theoretical and applied part. Students will learn in the introductory part what economics and management of trust is about, about the use of existing data sets on trust and how trust levels differ across countries worldwide. By formulating research questions students will set the stage for a theoretical discussion of the links between different kinds of trust and economic performance. They learn to define theoretically relevant concepts of trust and how economic performance of a competitive economy is impacted by solutions of trust problems. In the applied part students learn to apply their theoretical insights in case studies resulting in an assessment of the economic performance of high and low trust organizations and an agenda for high trust management policies in profit and non-profit organizations.
Peter de Gijsel
The aim of the course is to introduce students and professionals to Economics and Management of Trust as an emerging sub-discipline of Economics and Management Science. The course focuses on the analysis and solution of economic trust problems in market economies. Whereas trust problems attracts a growing number of researchers in economics and management, teaching economics and management of trust has not yet become an integral part of existing economics and management curricula. The course should lead to a gestalt switch by looking differently at economic and management problems stimulating a discussion about the need to consider economics and management of trust as a core subject of any economics and business curriculum.
EUR 800: Course