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JEB135 JPB334 - Economics of Global Business, Fall 2023 syllabus.pdf | Sylabus. Další soubory a informace jsou dostupné přes systém Moodle | Ing. Vilém Semerák, M.A., Ph.D. |
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Poslední úprava: Ing. Vilém Semerák, M.A., Ph.D. (30.09.2023)
Please note that the course was moved to the Fall semester for the Academic year 2023/23 and to a new time slot. The course will be taking place on Friday afternoons (3:30 p.m. - 6:20 p.m.). |
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Poslední úprava: Ing. Vilém Semerák, M.A., Ph.D. (24.10.2019)
After studying this course, students should gain a 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 actual transactions in international business implemented? What are INCOTERMS, SWIFT, Letter of Credit? 6. Why do we have off-shore finance? And how does its presence influence national economies? |
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Poslední úprava: Ing. Vilém Semerák, M.A., Ph.D. (30.09.2023)
Evaluation will be based on a midterm and final exam (in traditional "on-site" written form), two team assignments and online Moodle quizzes. The final exam will include a short (on-site) essay. There will be at least three different dates for the final exam.
The weights of the components in the total grade are as follows: Online Moodle quizzes (8): 10% Short midterm exam: 20% Final exam (includes a brief "on-site" essays): 50% Two team assignments: 20% Additional details: Written exams are compulsory for everyone; even students participating in hybrid education will have to participate in an online exam once they arrive in Prague. Grading scale:
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Poslední úprava: Ing. Vilém Semerák, M.A., Ph.D. (26.02.2020)
Literature: Books and chapters from books: Charles W.L. Hill: International Business. McGraw-Hill/Irwin; 9th edition. 2013 Or Charles W.L. Hill: Global Business Today. 10th edition, 2017 Paul Krugman, Maurice Obstfeld: International Economics: Theory and Policy. 10th edition. Pearson Series in Economics. 2014 E. Helpman, Understanding Global Trade. Belknap Press, 2011. M. D. Levi – International Finance, chapter 13 Papers and other materials: De Backer, K. and S. Miroudot (2013), “Mapping Global Value Chains”, OECD Trade Policy Papers, No. 159, OECD Publishing, Paris. R. Baldwin: Global supply chains: why they emerged, why they matter, and where they are going. In Elms & Low (eds.): Global value chains in a changing world. 2013 J. Becker & N. Riedel (2012): Cross-border tax effects on affiliate investment – evidence from European multinationals. European Economic Review 56 (2012) 436-450 Blomström (2001): The Economics of International Investment Incentives , OECD I. Bremmer (2009): State Capitalism Comes of Age: The End of the Free Market? Foreign Affairs, Vol. 88, No. 3 (May/June 2009), pp. 40-55 D. Dharmapala & J.R. Hines (2009): Which Countries Become Tax Havens? Journal of Public Economics 93 (2009), 1058-1068 E. Hilt (2008): When did Ownership Separate from Control? Corporate Governance in the Early Nineteenth Century (interesting as historical introduction, includes U.S. evidence) 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 Hines (2007): Tax Havens – texts for the The New Palgrave Dictionary of Economics J.R. Hines (2010): Treasure Islands. Journal of Economic Perspectives—Volume 24, Number 4—Fall 2010—Pages 103–126 Henry (2016): Taxing Tax Havens - How to Respond to the Panama Papers. Foreign Affairs 2016 J. Kornai, E. Maskin, G. Roland (2003): Understanding the Soft Budget Constraint. Journal of Economic Literature, Vol. 41, No. 4 (Dec., 2003), pp. 1095-1136 P. Krugman (1994): Competitiveness - A Dangerous Obsession. Foreign Affairs D. C. Mueller (2006): Corporate Governance and Economic Performance. International Review of Applied Economics, Vol. 20, No. 5, 623–643, December 2006 A. Musacchio & S.G. Lazzarini: Leviathan in Business: Varieties of State Capitalism and their Implications for Economic Performance. HBS Working Paper, No. 12-108, June 2012 Pavlínek, P. & Žížalová, P.: Linkages and spillovers in global production networks: firm-level analysis of the Czech automotive industry. Journal of Economic Geography 16 (2016) pp. 331–363 M. E. Porter: The Competitive Advantage of Nations. Harvard Business Review, 1990 Timmer, M. P., Dietzenbacher, E., Los, B., Stehrer, R. and de Vries, G. J. (2015), "An Illustrated User Guide to the World Input–Output Database: the Case of Global Automotive Production", Review of International Economics., 23: 575–605 IMD: World Competitiveness Yearbook 2014 – Introductory part OECD (2017): Corporate governance factbook OECD (2013): Interconnected Economies, Synthesis Report |
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Poslední úprava: Ing. Vilém Semerák, M.A., Ph.D. (30.09.2023)
There will be one lecture (80 minutes) and one seminar (80 minutes) every week.
The course will be taught in a partial hybrid mode, i.e. the lectures and seminar sessions will be taking place in room 206 (Fridays, 3:30-6:20 p.m.) but they will be simultaneously streamed via either Teams or Zoom platform too. However, the midterm and final exams will be taking place in the traditional mode (on-site and on paper). Course materials will be shared via the course's Moodle site. All registered students will receive an introductory email with information on how to join the Moodle site or how to join streaming (if relevant for them) on the first day of the semester. |
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Poslední úprava: Ing. Vilém Semerák, M.A., Ph.D. (30.09.2023)
The weights of the components in the total grade are as follows: Online Moodle quizzes (8): 10% Short midterm exam: 20% Final exam (includes a brief "on-site" essays): 50% Two team assignments: 20% Additional details: Written exams are compulsory for everyone; even students participating in hybrid education will have to participate in an online exam once they arrive in Prague. |
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Poslední úprava: Ing. Vilém Semerák, M.A., Ph.D. (30.09.2023)
Schedule of lectures/topics:
I. Introductory topics 1. Introduction – globalization, development of global economy and of the role of international transactions in national economies. Economic networks and global value chains – introduction. (October 6th) 2. Global value chains continued – upgrading, analytical instruments. (October 13th) 3. Economic agents: consumer preferences – the role of differences in culture, attitudes and values around the globe. (October 20th) 4. Holiday (October 27th) 5. Modes of internationalization of economic activities: when should we trade and when institute a foreign subsidiary? Which strategy for which market? (November 3rd) 6. The role of governance and its international dimension. Principal-agent problem and agency problems. Corporate governance: relationship between the shareholders, board, management. (November 10th) 7. Holidays (November 17th) II. Foreign trade activities 8. Exporting and importing activities: prices, risks, insurance. INCOTERMS. Amazon and E-bay: effects on organization of international trade? Brief midterm. (November 24th) 9. Trade policies: practical aspects. Non-tariff barriers to trade. Embargoes and sanctions. (December 1st) 10. How to pay for imports and get paid for exports? Means and methods of payments. SWIFT. (December 8th). III. International investment and finance 11. Currencies in international business. Exchange rate risk and exchange rate exposure. Introduction to hedging. Cryptocurrencies and blockchains in international trade? (December 15th) 12. Taxes and international business. Tax havens. (December 22nd) 13. Corruption in international business. Current trends and issues in international business. Make up session for time lost in October and November (January 5th) |
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Poslední úprava: Ing. Vilém Semerák, M.A., Ph.D. (24.10.2019)
The course will be taught in English. Please do not register if you are not able to study and work in English language. Knowledge of introductory Microeconomics, Macroeconomics and Statistics will be useful. |