|Status:||Bachelors - All
Bachelors - elective
BEF - elective
|Course supervisors:|| Ing. Vilém Semerák M.A., Ph.D.
|Literature:||All updated course materials are available at the Moodle website.
Paul Krugman, Maurice Obstfeld: International Economics: Theory and Policy. 10th edition. Pearson Series in Economics. 2014
Charles W.L. Hill: International Business. McGraw-Hill/Irwin; 9 edition. 2013
E. Helpman, Understanding Global Trade. Belknap Press, 2011.
Papers and other materials:
G. Hofstede: Cultural Constraints in Management Theories. The Executive, Vol. 7, No. 1 (Feb., 1993), pp. 81-94
Economist – a special issue on State Capitalism
IMD: World Competitiveness Yearbook 2014 – Introductory part
This course is related to but does not overlap with undergraduate courses International Trade and International Finance taught at the IES. Course “Economics of Global Business” deals with international trade, international financial flows, globalization of economic activities, but it focuses on additional topics and uses a different (more practical) perspective than the two afore-mentioned courses. it discusses many applied and institutional aspects of global economic activities and it also provides a brief insight into actual methods used in international business. However, unlike many traditional courses of this types which use rather soft and descriptive approaches, we will always try to provide also economic rationale and relevant empirical tests.
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. How are international activities of companies actually organized?
4. Why do nations trade and how is trade related to wages and welfare?
5. What is competitiveness? Can we and should we measure it?
6. How are actual transactions in international business implemented? What are INCOTERMS, SWIFT, Letter of Credit?
7. Why do we have off-shore finance? And how does its presence influence national economies?