Předmět Economics of Global Business (JEB135)

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Materiál	Typ	Datum	Počet stažení

Cíl

After studying this course, students should gain basic understanding of the following issues:1. Why do economic agents (consumers, households, companies) behave differently in different parts of the world? What are the implications for economic theory and business activities?2. When should a company choose to open a foreign subsidiary and when should it simply export goods abroad?3. Why do nations trade and how is trade related to wages and welfare?4. What is competitiveness? Can we and should we measure it?5. How are international activities of companies actually organized? What are INCOTERMS and SWIFT?6. Why do we have off-shore finance? And how does its presence influence national economies?

Sylabus

Schedule of lectures/topics:I.                 Introductory topics1.      Introduction - development of global economy and of the role of international transactions in national economies. (Feb 20)2.      Economic agents: consumer preferences - role of differences in culture, attitudes and values around the globe. Comparative studies and their implications. Results from experimental economics. (Feb 27)3.      Economic systems and social models around the globe. Differences and implications for economic activity. Companies and their objective functions under different economic systems. Case study: companies in China. (March 6)4.      Modes of internationalization of economic activities: when should we trade and when institute a foreign subsidiary? Empirical results. Multinational corporations in economic theory. (March 13)5.      National competitiveness: concepts, measurement. Is national competitiveness just a gimmick or a dangerous obsession? Porter’s concept of competitive advantage nations. (March 20)II.               Foreign trade activities6.      What and how nations trade: review of the concept of comparative advantage. Effects of trade on welfare. (March 27)7.      April 3 - Holiday8.      Midterm exam. Exporting and importing activities: prices, risks, insurance. INCOTERMS. Amazon and E-bay: effects on organization of international trade? (April 10)9.      Customs, tariffs: introduction to economic analysis. Practical aspects of trade policies. Economic diplomacy. (April 17)10.   How to pay for imports and get paid for exports? Means and methods of payments. SWIFT. TARGET2 (April 24)11.   May 1 - Holiday12.   May 8 - HolidayIII.              International investment and financial flows13.   Currencies in international trade. Reserve currencies, vehicle currencies. How many global currencies do we really need? (May 15)14.   International banking, offshore banks, Eurobanks. Effects on efficiency of national regulatory effort. (May 22)15.   Additional make up class (May 20th): for student presentations and revision before the final exam.

Literatura

Paul Krugman, Maurice Obstfeld: International Economics: Theory and Policy. 10th edition. Pearson Series in Economics. 2014Charles W.L. Hill: International Business. McGraw-Hill/Irwin; 9 edition. 2013E. Helpman, Understanding Global Trade.  Belknap Press, 2011.IMD: World Competitiveness Yearbook 2014 - Introductory part

Garant

Ing. Vilém Semerák, M.A., Ph.D.