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World Economy and Business

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Code Completion Credits Range Language
U63E0202 Z,ZK 6 2P+2C English
Garant předmětu:
Tomáš Evan
Tomáš Evan
Tomáš Evan
Institute of Economic Studies

The course introduces students of the technical universities to international business. It does that predominantly by comparing individual countries and key regions of the world economy. Students get to know about different religions and cultures, necessary for doing business in diverse societies as well as indexes of economic freedom, corruption and economic development, which are needed for the right investment decision. Seminars help to improve the knowledge in the form of discussions based on individual readings. It is advised to take the bachelor level of this course BIE-SEP as a prerequisite.


Student needs to create and present working paper of specific structure to pass. There are two written exams (30 and 60 percent) of a mix of multiple choice and open-ended questions. Active participation during seminars is also required (10).

Syllabus of lectures:

1. Introduction to the course. Level of economic development; why are some countries rich and some poor? Natural resources, culture or economic institutions and policies

2. Religion and language, describing differences and history, causes of misunderstandings and conflicts

3. Cultural differences from the economic and managerial point of view, Hofstede's cultural dimensions

4. Economic geography, the most important natural resources in Europe and the World.

5. Population as a resource (HR), human capital, the economic impact of depopulation (Europe, East Asia)

6. Basic economic characteristics (GDP, TFP, indebtedness, openness of economy, inflation, unemployment) of selected particularly European countries

7. Economic institutions and policies in reaction to globalisation

8. Influence of democracy (Democracy index EIU) and political freedom (The Freedom house index) on the business environment

9. Economic freedom in the world (Index of economic freedom from The Heritage Foundation and The Frazer Institute, The Economic freedom of the world)

10. Definition and distribution of corruption (CPI from Transparency international) and quality of business environment (World Bank index - Doing business: The Ease of doing business and distance to frontier)

11. Human Development Index (UNDP) as the arguably best indicator of successful institutions and macroeconomic policies

12. Cost and benefits of MNCs (strategies, M&A, technologies)

13. Ethics in international business

Syllabus of tutorials:

1. Economic institutions and policies as the main factor for economic development; Olson M. (1996): Big bills left on the sidewalk: why some nations are rich, and others poor.

2. Effectivity of economic cooperation in potentially conflict environment; Huntington S. (1993): Clash of Civilizations. Foreign Affairs, introduction, Summer 1993.

3. Comparison of cultures with 5 cultural dimensions of Hofstede

4. Comparison of larges importers and exporters of key resources

5. First and second demographic transformation, the practical impact of population decline and ageing of the population in the developed world, changes on market of goods and services

6. Practical part of the working paper: PC lab, regression a correlation

7. Test I.

8. Analysis of Democracy Index and The Freedom House index

9. Analysis of Index of economic freedom and The Economic freedom of the world index

10. Analysis of CPI and Doing business index

11. Analysis of HDI

12. Presentation of working papers

13. Test II.

Study Objective:
Study materials:

Internet based indexes. Readings.

Other resources, available to students for every topic

Cavusgil, S.T., Knight, G., Rieselberger, J., International Business: The New Realities, 2013.

Evan, T., Chapters of European Economic History, Praha 2014.

Time-table for winter semester 2022/2023:
Time-table is not available yet
Time-table for summer semester 2022/2023:
Evan T.
(lecture parallel1)
Evan T.
(parallel nr.101)
The course is a part of the following study plans:
Data valid to 2023-05-31
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