Smith Experience Abroad: 2011-12
Doing Business in Australia: Resource
Fall term one-credit BUSI788A and Winter term two-credits
is one of the world’s strongest economies, and was one of the fastest growing in
the 1990s. This class will examine how the country manages its vast natural
resources and environmental splendors such as the Great Barrier Reef, as well as
manages its lack of resources such as water.
The discovery of gold in the early 1900s shaped current demographic patterns,
and since the country’s inception in 1901 there has been an almost continuous
run of mineral discoveries, including bauxite, iron, and manganese reserves as
well as opals, sapphires, and other precious stones. Australia is the world's
largest net exporter of coal, accounting for 29% of global coal exports. Natural
gas fields are liberally distributed throughout the country and now supply most
of Australia's domestic needs.
Despite a wealth of many natural resources, Australia struggles to maintain
an adequate water supply. The country is the driest inhabited continent on
Earth, and among the world’s highest consumers of water.
This class will be led in partnership with the Center for Social Value
Creation and will look at how the country is addressing long-term concerns,
including climate-change issues such as the depletion of the ozone layer and
more frequent droughts and floods, and management and conservation of coastal
areas. We will learn how non-conventional water sources, such as seawater
desalination, are playing an increasing role in Australia's water supply, and
about plans for the coal industry and Australian electricity supply. We will
examine how Australia plans to manage its exports of precious natural resources
to China and Asia.
Oliver Schlake is the faculty lead for this course. He is an expert on
innovation strategy and scenario planning.