MG4F5 Half Unit
Business in the Global Environment
This information is for the 2020/21 session.
Teacher responsible
Dr Veronica Rappoport-Redondo NAB 5.29
Availability
This course is compulsory on the MSc in Management (1 Year Programme). This course is not available as an outside option.
Course content
In this course we study two key components of the process called 'globalisation'. First, we consider the negotiation, implementation and implications of international trade agreements. These include the World Trade Organisation and the fast-growing web of regional trade agreements. Second, we look at the process of globalisation at the level of industries, firms and nations. We seek a solid understanding of the external, economy-wide factors that affect the performance and management of firms in today's global economy. The course relies on recent theoretical and empirical research. Topics include the changing structure of industries, the response of companies, both those based in the advanced industrial countries and those based in emerging markets, to increasing international competition; and the differences between countries in their institutions and policies.
Course topics:
1) Globalisation: trends in the global economy, overview of their causes and effects
2) The workings, accomplishments and shortcomings of the GATT/WTO system
3) Trade barriers: causes and consequences of restrictions to international trade
4) The economics and politics of international trade agreements
5) Implications of trade agreements for national and multinational firms
6) Location of Production: Theory of Comparative Advantages
7) Location of Production: Factor Endowments across countries
8) Location of Production: Testing empirically the predictions of the theory
9) Location of Production: Empirical Analysis, institutions as a source of competitive advantage
10) Foreign Direct Investment and International Contracts
Teaching
10 x 180 minute seminars in the period after exams and summer term
Formative coursework
Students will be expected to produce 1 piece of coursework in July.
Indicative reading
Giorgio Barba Navaretti & Anthony J Venables, Multinational Firms in the World Economy, Princeton, 2004
Robert Feenstra and Alan Taylor, International Economics, Worth Publishers, 2008
Kyle Bagwell and Robert W. Staiger, "The Economics of the World Trading System," MIT Press, 2004
The World Trade Organisation, "The WTO and preferential trade agreements: From co-existence to coherence," World Trade Report, 2011.
Assessment
Continuous assessment (15%), research project (40%) and in-class assessment (45%) in the ST.
Important information in response to COVID-19
Please note that during 2020/21 academic year some variation to teaching and learning activities may be required to respond to changes in public health advice and/or to account for the situation of students in attendance on campus and those studying online during the early part of the academic year. For assessment, this may involve changes to mode of delivery and/or the format or weighting of assessments. Changes will only be made if required and students will be notified about any changes to teaching or assessment plans at the earliest opportunity.
Key facts
Department: Management
Total students 2019/20: 75
Average class size 2019/20: Unavailable
Controlled access 2019/20: No
Value: Half Unit
Personal development skills
- Self-management
- Team working
- Problem solving
- Communication
- Application of numeracy skills
- Commercial awareness
