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CONTACT: GEORGE MCCRORY
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e-mail: george-mccrory@uiowa.edu

Release: May 12, 1999

Institute for International Business is created at UI

IOWA CITY, Iowa — A new Institute for International Business has been created in the University of Iowa Henry B. Tippie College of Business, helping students and faculty gain new perspectives on the global economy.

The Board of Regents, State of Iowa, approved the creation of the Institute at its April meeting. The new office will coordinate all international programs in the college and will work closely with other international programs and centers on campus.

The Institute provides internships, study-abroad programs, and exchange programs for business faculty and students. Its goals are to provide students with experiences and skills necessary to compete in the global marketplace and advance faculty research and teaching efforts on issues related to international business.

William Albrecht, UI professor of economics and director of the Institute, wants to add new exchange programs for students and faculty. Existing programs have been very successful, with students getting a first-hand view of global economies in action.

In January 25 MBA students traveled to London to study British financial markets. As part of another inter-session program May 17-28 in London, 19 UI MBA students will study implications of the euro and European financial integration on the U.S. economy. Over the last two summers, UI MBA students have had internships with firms in Argentina and Chile.

Through a U.S. Department of Education grant, six UI business faculty will also travel to Argentina over the next two years to expand their knowledge of the Latin American economy. Starting June 1 they will not only intern at an Argentine company, but also teach an executive training course at the Lujan University near Buenos Aires. All instruction will be done in Spanish, Albrecht added.

Marketing Professor Catherine Cole will be the first to make the trip to Argentina this summer and will teach marketing management. She is looking forward to gaining different perspectives on marketing case studies and plans to share what she learns in her fall classes at the UI. "It's also great being in a different country to see different approaches in advertising, distribution and branding," she added.

Next year's participants in the Argentina faculty program include Wagner Kamukura of the marketing department, Gerry Suchanek and Thomas Rietz from finance, Nancy Hauserman from management and organizations, and business librarian David Martin.

Although no new international business courses are planned through the Institute, Albrecht said business faculty could now add more Latin American business content in their existing classes. "The faculty who spend time in Argentina will be able to share their knowledge of international business issues and learn about opportunities abroad," he added.

Business faculty will also share their experiences with the business community, with presentations planned to the Cedar Rapids Chamber of Commerce.

The Institute plans to continue its study-abroad programs for students next summer in Argentina and will offer a three-week program in January 2000 to study financial institutions in London and Paris.

For more information about international business programs, call (319) 335-1379 or see http://www.biz.uiowa.edu/worldbiz/.