Sylabus. Další informace a detaily jsou dostupné v systému Moodle.
Ing. Vilém Semerák, M.A., Ph.D.
Anotace -
This course is related to but does not overlap with the undergraduate courses International Trade and International Finance taught at the IES. The course “Economics of Global Business” deals with international trade, international financial flows, and globalisation of economic activities, but it focuses on additional topics and uses a different (wider and to some extent more practical) perspective than the two aforementioned courses.
It discusses many applied and institutional aspects of global economic activities, it also provides a brief insight into actual methods used in international business. However, unlike many traditional courses of this type, which use rather soft and descriptive approaches, we will also try to provide economic rationale and relevant economic models and their empirical tests.
Poslední úprava: Semerák Vilém, Ing., M.A., Ph.D. (19.02.2026)
This course is related to but does not overlap with the undergraduate courses International Trade and International Finance taught at the IES. The course “Economics of Global Business” deals with international trade, international financial flows, and globalisation of economic activities, but it focuses on additional topics and uses a different (wider and to some extent more practical) perspective than the two aforementioned courses.
It discusses many applied and institutional aspects of global economic activities, it also provides a brief insight into actual methods used in international business. However, unlike many traditional courses of this type, which use rather soft and descriptive approaches, we will also try to provide economic rationale and relevant economic models and their empirical tests.
Poslední úprava: Semerák Vilém, Ing., M.A., Ph.D. (19.02.2026)
Cíl předmětu -
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? And how does it influence companies? How do they develop their comparative/competitive advantages? 4. How are actual transactions in international business implemented? What are INCOTERMS, SWIFT, and Letters of Credit? 5. What do we know about determinants of international investment flows? 6. How do differences in taxation and the existence of tax havens influence our economies?
Poslední úprava: Semerák Vilém, Ing., M.A., Ph.D. (19.02.2026)
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? And how does it influence companies? How do they develop their comparative/competitive advantages? 4. How are actual transactions in international business implemented? What are INCOTERMS, SWIFT, and Letters of Credit? 5. What do we know about determinants of international investment flows? 6. How do differences in taxation and the existence of tax havens influence our economies?
Poslední úprava: Semerák Vilém, Ing., M.A., Ph.D. (19.02.2026)
Podmínky zakončení předmětu -
Evaluation will be based on a final exam (in a traditional "on-site" written form), team activities during the seminar sessions, and online Moodle quizzes. The final exam will include a multiple-choice quiz, open-ended questions, and a short (on-site) essay.
The weights of the components in the total grade are as follows: Online Moodle quizzes (at least 8): 5% Final exam (includes a brief "on-site" essay): 55% Activities during the seminar sessions 40% (4 x 10) - This includes team presentations and reactions to other teams’ presentations.
Additional points for activity in seminars/lectures: up to 5 additional points.
In addition to obtaining a minimum of 50% of total points, you are also required to obtain at least 45% in the final exam. Please note that participation in written exams is compulsory for everyone.
Poslední úprava: Semerák Vilém, Ing., M.A., Ph.D. (19.02.2026)
Evaluation will be based on a final exam (in a traditional "on-site" written form), team activities during the seminar sessions, and online Moodle quizzes. The final exam will include a multiple-choice quiz, open-ended questions, and a short (on-site) essay.
The weights of the components in the total grade are as follows: Online Moodle quizzes (at least 8): 5% Final exam (includes a brief "on-site" essay): 55% Activities during the seminar sessions 40% (4 x 10) - This includes team presentations and reactions to other teams’ presentations.
Additional points for activity in seminars/lectures: up to 5 additional points.
In addition to obtaining a minimum of 50% of total points, you are also required to obtain at least 45% in the final exam. Please note that participation in written exams is compulsory for everyone.
Poslední úprava: Semerák Vilém, Ing., M.A., Ph.D. (19.02.2026)
Literatura
Literature:
Books and chapters from books:
Charles W.L. Hill: Global Business Today. McGraw-Hill/Irwin; 2024
or an older edition, e.g. Charles W.L. Hill: Global Business Today.10th edition, 2017
Selected chapters from the following books will also be used:
·Levi – International Finance, chapter 13
·Helpman, Understanding Global Trade.
·Krugman, Obstfeld, Melitz: International Trade, Theory & Policy. 9th edition or newer. Addison-Wesley (Pearson), 2012 or later.
Papers and other materials:
Adarov, A., 2021. Central, East and Southeast European countries in the global value chain network (No. 51). Policy Notes and Reports.
De Backer, K. and S. Miroudot (2013), “Mapping Global Value Chains”, OECD Trade Policy Papers, No. 159, OECD Publishing, Paris.
L. De Benedictis et al (2013): Network Analysis of World Trade using the BACI-CEPII dataset. CEPII working paper, 24/2013
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
M. Blomström & A. Kokko (2003): The Economics of International Investment Incentives , NBER
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
J.R. 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
J.S. Henry (2016): Taxing Tax Havens - How to Respond to the Panama Papers. Foreign Affairs 2016
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
T. Mayer & Ottaviano (2008): The Happy Few: The Internationalisation of European Firms
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
OECD (2017): Corporate governance factbook
Poslední úprava: Semerák Vilém, Ing., M.A., Ph.D. (19.02.2026)
Metody výuky -
There will be one lecture (80 minutes) every week and one seminar (80 minutes) every second week.
Only in the first week, we need all students to attend the seminar session (this will be compensated by the holidays later in the semester).
The course will be taught on-site (room 109) only, during the academic year 2025/26. No streaming or recording is planned.
Information about access to Moodle (enrollment password) will be sent to all registered students by email at the beginning of the semester.
Poslední úprava: Semerák Vilém, Ing., M.A., Ph.D. (19.02.2026)
There will be one lecture (80 minutes) every week and one seminar (80 minutes) every second week.
Only in the first week, we need all students to attend the seminar session (this will be compensated by the holidays later in the semester).
The course will be taught on-site (room 109) only, during the academic year 2025/26. No streaming or recording is planned.
Information about access to Moodle (enrollment password) will be sent to all registered students by email at the beginning of the semester.
Poslední úprava: Semerák Vilém, Ing., M.A., Ph.D. (19.02.2026)
Požadavky ke zkoušce -
Evaluation will be based on a final exam (in a traditional "on-site" written form), team activities during the seminar sessions, and online Moodle quizzes. The final exam will include a multiple-choice quiz, open-ended questions, and a short (on-site) essay.
The weights of the components in the total grade are as follows: Online Moodle quizzes (at least 8): 5% Final exam (includes a brief "on-site" essay): 55% Activities during the seminar sessions 40% (4 x 10) - This includes team presentations and reactions to other teams’ presentations.
Additional points for activity in seminars/lectures: up to 5 additional points.
In addition to obtaining a minimum of 50% of total points, you are also required to obtain at least 45% in the final exam. Please note that participation in written exams is compulsory for everyone.
Poslední úprava: Semerák Vilém, Ing., M.A., Ph.D. (19.02.2026)
Evaluation will be based on a final exam (in a traditional "on-site" written form), team activities during the seminar sessions, and online Moodle quizzes. The final exam will include a multiple-choice quiz, open-ended questions, and a short (on-site) essay.
The weights of the components in the total grade are as follows: Online Moodle quizzes (at least 8): 5% Final exam (includes a brief "on-site" essay): 55% Activities during the seminar sessions 40% (4 x 10) - This includes team presentations and reactions to other teams’ presentations.
Additional points for activity in seminars/lectures: up to 5 additional points.
In addition to obtaining a minimum of 50% of total points, you are also required to obtain at least 45% in the final exam. Please note that participation in written exams is compulsory for everyone.
Poslední úprava: Semerák Vilém, Ing., M.A., Ph.D. (19.02.2026)
Sylabus -
Schedule of lectures/topics:
Introduction – globalisation, what do we know about international economic flows (trade, investment) and their structure? Outsourcing and offshoring. (February 20th)
Global value chains continued – data and analytical instruments. Economic networks and global value chains. Changes in GVC positioning - upgrading. (February 27th)
Trade macro perspective: comparative advantages, economies of scale, product variety and the gains from trade. (March 6th)
Trade - micro perspective: Companies in trade. Modes of internationalisation of economic activities: when should we trade and when rely on a foreign subsidiary? Which strategy for which market? (March 20Th)
International investment and finance: macro perspective (March 27th)
Good Friday - Holiday - April 3rd
Currencies in international business. Exchange rate risk and exchange rate exposure. Introduction to hedging (April 10th)
Practical aspects of international business: Prices, risks, insurance. INCOTERMS. Means and methods of payments, SWIFT. (April 17th )
Supply chain management. Logistics of international business. (April 24th)
Holiday (May 1st )
Holiday (May 8th).
Taxes and international business. Tax havens. (May 15th)
Corruption in international business. Current trends and issues in international business. Make up session for time lost due to Good Friday, May 1st, May 8th holidays. (May 22nd)
Poslední úprava: Semerák Vilém, Ing., M.A., Ph.D. (20.02.2026)
Schedule of lectures/topics:
Introduction – globalisation, what do we know about international economic flows (trade, investment) and their structure? Outsourcing and offshoring. (February 20th)
Global value chains continued – data and analytical instruments. Economic networks and global value chains. Changes in GVC positioning - upgrading. (February 27th)
Trade macro perspective: comparative advantages, economies of scale, product variety and the gains from trade. (March 6th)
Trade - micro perspective: Companies in trade. Modes of internationalisation of economic activities: when should we trade and when rely on a foreign subsidiary? Which strategy for which market? (March 20Th)
International investment and finance: macro perspective (March 27th)
Good Friday - Holiday - April 3rd
Currencies in international business. Exchange rate risk and exchange rate exposure. Introduction to hedging (April 10th)
Practical aspects of international business: Prices, risks, insurance. INCOTERMS. Means and methods of payments, SWIFT. (April 17th )
Supply chain management. Logistics of international business. (April 24th)
Holiday (May 1st )
Holiday (May 8th).
Taxes and international business. Tax havens. (May 15th)
Corruption in international business. Current trends and issues in international business. Make up session for time lost due to Good Friday, May 1st, May 8th holidays. (May 22nd)
Poslední úprava: Semerák Vilém, Ing., M.A., Ph.D. (20.02.2026)
Vstupní požadavky -
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.
Poslední úprava: Semerák Vilém, Ing., M.A., Ph.D. (19.02.2026)
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.
Poslední úprava: Semerák Vilém, Ing., M.A., Ph.D. (19.02.2026)
