This course lays the foundation to gaining competitive advantage in the global marketplace by providing a hands-on understanding of the competitive implications affecting global marketing strategies, as well as covers the factors that govern the decision to enter export marketing and analyzes planning, organizing, and managing an international business marketing strategy.

Course Description

This course deals with the theory of international trade, commercial policy, balance of payments, and international monetary issues. Key topics include the theory of comparative advantage, exchange rate determination, different forms of protectionism, open-economy fiscal and monetary policies, and the analysis of common markets and free-trade areas. This course has two objectives: to introduce students to the “real” (as opposed to financial) side of international economics, international trade; and to give students an overview of some of the key trade-related political and economic debates taking place among economists, governments, and civil society today.

Learning Outcomes

By the end of class, you should be able to:

• Explain why international trade occurs and takes on the pattern that it does;
  
• Apply economic theories in order to demonstrate why things are produced where they are produced in our interconnected global economy;
  
• Identify who is likely to gain and who is likely to lose from trade and openness to trade;
  
• Assess the desirability of trade-related laws, agreements, and policies;
  
• Discuss international trade agreements, trade barriers, outsourcing and offshoring, and other phenomena affecting international business.
  

 Course Content

• Introduction to International Economy and Globalization
  
• Classical Trade Theories  
  
•  “New” Trade Theory
  
•  Heterogeneous Firms and Patterns of Trade Examples
  
• Conventional Trade Policies
  
• Strategic Trade Policies
  
• Trade Liberalization
  
• Introduction to Balance of Payments Foreign Exchange Markets and International Financial Investment
  
• Models of Exchange Rate Determination

 Compulsory Reading Materials

• International Trade: Theory and Policy, 10th Ed. (2014) Krugman, Paul R., Obstfeld, Maurice, and Melitz, Marc ISBN: 978-0133427493
  

 Optional Reading Materials

• P. R. Krugman, M. Obsfeld and M. Melitz, International Economics, (10th edition), Pearson Education (2015).
  

As the interrelatedness of nations continues to increase, the involvement of multilateral institutions continues to guide many policies. This course explores the evolution, major functions, and fundamental philosophies, behind these institutions. This course helps learners develop a systemic understanding of organizational setups, and how institutions operate. Learners select one specific multilateral institution and explore a strategic engagement from their cultural/political/historical perspective.