World Economy and Business

Relations:

It is not possible to register for the course 32BE-P-WEBS-01 if the student is concurrently registered for or has already completed the course U63E0202 (mutually exclusive courses).

During a review of study plans, the course U63E0202 can be substituted for the course 32BE-P-WEBS-01.

Course guarantor:

Lecturer:

Tutor:

Supervisor:

Institute of Economic Studies

Synopsis:

The course introduces students of the technical universities to international business. Throughout the course, an interesting contrast between the inspiring trade theory and the alternative instances of economic policy will be done.

When analysing the international business context, the student must interpret the role of big players, mainly in the technological markets. Alongside, he/she must assess the degree of market power and the apparent strategies designed for taking advantage of pricing policy.

Several topics affecting the international business will be discussed: External Balance, Exchange Rate Policy, Free Markets vs Strategic Trade Policy.

A modern approach will tackle the trends in supplying new products: two sides markets, digital markets, online system of payments.

The methodology introduces to students the important section of International Business. The course will focus on the links of international trade and domestic policies, such as diverse development strategies, the role of multinational corporations, and the policies of protectionism or free trade. A set of case studies relating to the present state of affairs of international trade will be analyzed, including the braking issue of Strategic Trde Policy and the Industrial promotion, purposely implemented by developed countries..

Requirements:

Syllabus of lectures:

1. Microenonomic context and international Business

2. Theory of Firm in Global markets

3. Contestable Markets and International technological big players

4. Global companies and Two sides markets

5. International Monopolies and Strategic Behavior

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

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

8. International Competitivness

9. Overview of International Trade

10. Financial markets and International Finance

11. International Competitivness

12. Global Trade indicators and International Connections

13. Antitrust policy and international market contestability

14. Balance of Payments, Trade and Exchange rates

Syllabus of tutorials:

1. Microenonomic context and international Business

2. Theory of Firm in Global markets

3. Contestable Markets and International technological big players

4. Global companies and Two sides markets

5. International Monopolies and Strategic Behavior

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

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

8. International Competitivness

9. Overview of International Trade

10. Financial markets and International Finance

11. International Competitivness

12. Global Trade indicators and International Connections

13. Antitrust policy and international market contestability

14. Balance of Payments, Trade and Exchange rates

Study Objective:

Study materials:

Tirole Jean. Market Failures and Public Policy. Nobel Prize Lecture, Stockholm

Paul Krugman , Maurice Obstfeld , Marc Melitz (2022). International Trade: Theory and Policy, Global Edition 12th Edición. Pearson.

Marijn A. Bolhuis (2023) The Costs of Geoeconomic Fragmentation.

The Return of Industrial Policy. Finance and Development. International Monetary Fund. 60 (2).

Arias-Gomez, H. (2023). Space and Poduction Specialization. In: Arias-Gomez, H. & Antosova, G. (Ed). Considerations of Territorial Planning, Space, and Economic Activity in the Global Economy. IGI Global Publisher. Hershey.

Kruger, Anne. (2020). International Trade: What Everyone Needs to Know. Oxford University Press. Oxford.

Krugman Paul, Obstfeld Maurice and Melitz, Marc. (2017) International Economics. 10th Edition. Pearson

Paul Krugman (2008) The increasing returns revolution in trade and geography. Nobel Prize Lecture Stockholm.

Eichengreen, Barry (2019). Towards a New Enlightenment? A Transcendent Decade. Openmind. University of California, Berkeley. https://www.bbvaopenmind.com/wp-content/uploads/2018/12/BBVA-OpenMind-Barry-Eichengreen-The-Past-Decade-and-the-Future-of-the-Global-Economy.pdf

Royal Swedish Academy of Sciences. (2008). Trade and Geography Economies of Scale, Differentiated Products and Transport Cost. Internet site accessed on December 2021: http://nobelprize.org/nobel_prizes/economics/laureates/2008/index.html

Recommended:

Arias-Gomez Helmuth Yesid & Antošová Gabriela (2023). Regional manufacturing in the Czech Republic. Urban, Planning and Transport Research. VOL. 11, No. 1. Taylor and Francis.

Eichengreen, Barry. (2018). The Populist Temptation: Economic Grievance and Political Reaction in the Modern Era. New York: Oxford University Press. Oxford

Jing Linbo (2017). The Development of the Strategic Trade Policy and Its Application in China. The Chinese Economy, 50. pp. 97-111

Bilgin Orhan (2012). Strategic Trade Policy Versus Free Trade. Procedia - Social and Behavioral Sciences 58. pp. 1283 - 1292.

Giancarlo Corsetti (2008). A Modern Reconsideration of the Theory of Optimal Currency Areas. Economic Papers Directorate-General for Economic and Financial Affairs. European Commission. Brussels. https://ec.europa.eu/economy_finance/publications/pages/publication12229_en.pdf

Agenor R, Montiel Peter (2002). Development Macroeconomics. Princeton University Press. New York.

Mundell Robert (2003) The Significance of the Euro in the International Monetary System. American Economist. Fall. 47,2. pp. 27-39.

Mundell Robert (1999) A reconsideration of the 20th Century. Nobel Prize Lecture Stockholm.

Note:

Further information:

No time-table has been prepared for this course

The course is a part of the following study plans:

• B-EM-P prezenční studium od 21/22 (compulsory elective course)
• B-EM-P prezenční studium od 22/23 (compulsory elective course)
• B0413P050061 Ekonomika a management (profesní studijní program) - počínaje od ZS 2023/2024 (compulsory elective course)
• B0413P050061 Ekonomika a management (OZ101 Marketing) od ZS 2023/2024 (compulsory elective course)
• B0413P050061 Ekonomika a management (OZ102 Personální management) od ZS 2023/2024 (compulsory elective course)
• B0413P050061 Ekonomika a management (OZ103 Řízení firemních procesů) od ZS 2023/2024 (compulsory elective course)
• B0413P050061 Ekonomika a management (OZ104 Účetnictví) od ZS 2023/2024 (compulsory elective course)
• B0413P050061 Ekonomika a management (OZ105 Manažerská informatika) od ZS 2023/2024 (compulsory elective course)
• B0413P050061 Ekonomika a management (OZ106 Obchodní podnikání) od ZS 2023/2024 (compulsory elective course)