7EC503 International Economics for Business and Finance Module
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- Course Code: 7EC503
- Course Title: International Economics for Business and Finance
- Referencing Styles: Harvard
- Words: 9999+
- University: University of Derby
- Country: GB
In today’s world, it is impossible to understand and analyse a country’s domestic economic situation without considering its international economic interactions. This module seeks to provide a deeper understanding of the macroeconomics of open economies. The module will first cover international trade, analysing trade theory, trade patterns and their effects on the world’s economies and examining national trade policies. Second, the module will turn to international finance, dealing with the international financial environment, international capital flows, balance of payments issues, foreign exchange markets and the interdependencies between international transactions and national monetary and fiscal policies.
Module Learning Outcomes
On successful completion of the module, you will be able to:
- Demonstrate critical understanding of the theoretical economic underpinnings of international trade and international finance.
- Critically evaluate current developments in international macroeconomic issues and their impact on business strategies and/or government policies.
After overviewing the inter-connected nature of our world’s economies and the patterns of globalisation so far, the module will first deal with the microeconomic underpinnings of international trade. The class will look at the reasons why countries engage in trade, who benefits and who loses from trade and discuss the theory and practice of protectionism. Then the module will turn to international finance and macroeconomics and will discuss the impact of national policy on a country’s balance of payments, overview foreign exchange markets and exchange rate determination. This will then allow the discussion of open economy macroeconomics – international financial relationships between exchange rates, interest rates and inflation, fixed versus floating exchange rates economic integration and international macroeconomic policy.
Module Learning & Teaching Methods
As this is a Masters-level module, it is essential for the students to take responsibility for their own learning and development. The emphasis is on student-centred – and applied – learning, where investigation and critical evaluation of relevant/current themes and concepts in international economics and finance will be expected.
There will be a substantial amount of directed reading, both from the set text, journals and internet sources, so that you are able to develop your analytical study of international economics issues. Therefore, you will be counted on at all times to keep abreast of the news, to read widely, to use appropriate research methods and to be able to draw on personal experiences and knowledge gained from your previous studies.
The lectures will outline theories, analyse current events and introduce you to guest speakers, business and economics experts. Seminars will be driven by discussion topics, case studies relating to theory and practice and practical activities involving economic data. Clinics will provide students with additional assessment support.
Module Assessment Mode:
A series of computer-based assessments to test knowledge of theoretical issues. Seminar tasks focused on critically reviewing literature and discussing and presenting results.
Individual report on the impact of the current international economic environment on a multinational company or on a country (3500 words)
Following the guest speaker lectures and using existing data, students will put themselves in a consultancy role and write an economics research report aimed at either a company (advising on strategy) or a country (advising on policy development). The report will generally help the client understand the developments in the international macroeconomic environment, identify risks and opportunities and make forward-looking recommendations.