Study Guide

Objective

You are able to analyse the global division of labour and its impact on business strategy. You can explore the mechanism of exchange rates and its influence on business possibilities. You are capable to find relevant information and analyse the economic business environment of potential markets.

Content

- Theories which explain functioning of the global economy
- Determination of competitive advantages at national and company levels
- Open economy macroeconomics and the present state of the world economy
- Sources of relevant statistical and analytical information

Materials

1) Chapters on Open Economy Macroeconomics, International Trade (and Commercial Policy), International Monetary System and International Finance, and Economic Integration in any textbook on (International) Economics. (roughly 100-150 pages)
2) Richard Baldwin (2006). Globalisation: the great unbundling(s). Economic Council of Finland. http://appli8.hec.fr/map/files/globalisationthegreatunbundling%28s%29.pdf.
3) Additional material delivered during the course.

Teaching methods

Global division of labour and trade flows
Exchange rates (FOREX)
Economic policy in global economy (open economy macroeconomics)
Sources for data and information on global business environment

Student workload

Lectures 22h and exercises 10h, assignments and readings 70h, exam 2h

Evaluation scale

H-5

Assessment methods and criteria

Written exam.