Universitat Internacional de Catalunya
World Economics
Other languages of instruction: Catalan, English
If the student is enrolled for the English track then classes for that subject will be taught in the same language.
Teaching staff
Tuesdays & Thursdays after class and by appointment sending an e-mail
Introduction
This course provides the fundamental analytical framework for students to understand the interconnection between current economic events and strategic decision-making in the field of international business. Through a practical and global approach, the course enables the interpretation of complex phenomena such as business cycle stability and the regulatory role of international economic organizations, analyzing how these dynamics condition internationalization processes and the strategic decisions of multinational corporations. The program prioritizes the development of critical thinking to evaluate the macroeconomic environment from a transnational perspective, integrating theoretical models and current case studies. Thus, students acquire the necessary tools to analyze and interpret the impact of structural changes in the global economy and new sustainability paradigms on contemporary business management.
Pre-course requirements
It is recommended to have passed Macroeconomics 1 and Macroeconomics 2.
Objectives
This course develops the essential analytical framework for students to critically understand and evaluate the phenomena defining the contemporary global economy, such as:
- Instability and Cycles: The impact of recessions and the effectiveness of recovery policies.
- Global Trade and Financial Dynamics: The role of the WTO, the functioning of the IMF, and the World Bank Group.
- Integration and Geopolitics: International tensions, the role of the UN, and the functioning of regional blocs such as the European Union.
- Business Transformation: The effect of globalization and digitalization on the internationalization strategies of multinational companies.
- Sustainability Challenges: The transition toward new economic growth paradigms that respect the future environment.
By the end of the semester, students will be able to analyze and interpret how these factors condition performance and strategic decision-making in the global business environment.
Competences/Learning outcomes of the degree programme
- 08 - To understand how leading world economies work, their institutions and interconnections.
- 09 - To identify emerging economies as well as the underdeveloped world, and to analyse applied growth policies.
- 10 - To identify long-term economic growth factors and understand the impact of globalisation.
- 22 - To be able to identify the nature and behaviour of producers, consumers and investors.
- 52 - To develop interpersonal skills and the ability to work as part of a team.
- 56 - To be able to create arguments which are conducive to critical and self-critical thinking.
- 67 - To be able to express oneself in other languages.
Learning outcomes of the subject
- Perform strategic analyses of government and corporate behavior.
- Identify relevant information in cases and articles regarding global economies.
- Identify the drivers of globalization and their effects on national performance.
- Conduct oral presentations and draft technical reports in teams.
- Complete individual exercises based on country and company reports.
Syllabus
BLOCK 0 — Introduction
- Topic 0: Course Presentation and Introduction to the World Economy.
BLOCK I — Economic Systems
- Topic 1: Economics and Economic History.
- Topic 2: Globalization: Development and Indicators.
- Topic 3: Economic Systems.
BLOCK II — International Economic Organization
- Topic 4: The European Union (EU). Economic Integration.
- Topic 5: Balance of Payments.
- Topic 6: International Trade System and Trade Agreements.
- Topic 7: International Financial System: The International Monetary Fund (IMF).
BLOCK III — Business, Technology, and New Challenges
- Topic 8: Global Governance: The UN and Geopolitical Tensions.
- Topic 9: Multinational Corporations.
- Topic 10: Sustainability and Growth: The future of the world economy.
Teaching and learning activities
In person
The teaching dynamics are structured through the following activities:
1. Theoretical Training and In-Person Sessions
- Theory Sessions: Development of the fundamental contents of the subject, fostering the understanding of key global economy concepts in the classroom.
- Exercises and Activities: Brief activities and in-person problem-solving to reinforce theoretical content.
- Guided Debates: Discussions led by the lead instructor based on the theory sessions, encouraging critical thinking and student argumentation.
Note: Attendance below 70% may result in a grade of “Absent” for the final qualification, regardless of the results obtained in other evaluable items.
2. Collaborative Work and Application
- Development of joint projects focused on the analysis of the world economy and sustainability (Topic 10).
- Preparation of a written report demonstrating the group's research and synthesis capacity.
- Public presentation of the results, evaluating communication skills and the defense of ideas before the class.
3. Virtual Campus and Communication
- Mandatory Use of Moodle: It is the student's responsibility to check the virtual classroom (Moodle) frequently to access materials, reading guides, and course announcements.
Evaluation systems and criteria
In person
The assessment is designed to value both theoretical knowledge and practical analysis and teamwork skills. It is divided as follows:
1. Continuous Assessment (40%)
- Attendance and Active Participation (10%): Evaluation of the frequency and quality of student interventions in sessions and debates.
- Tests and Practical Activities (10%): Brief quizzes or individual classroom exercises on the contents of Blocks 0 to III.
- Group Project and Presentation (20%): Primarily linked to Topic 10. (Detailed guidelines will be available on Moodle).
- Oral Presentation (10%): Communication skills and defense of arguments. Individual grade.
- Written Report (10%): Academic quality, structure, and depth of the group report analysis. Group grade.
Notes: (1) In-class tests and practical activities are non-recoverable. (2) Failure to participate: If a student does not participate in the group work, written report, or oral presentation, they will receive a 0 for this entire section.
2. Final Exam (60%)
- Format: In-person.
- Structure: Multiple choice, development questions, and a mini case study.
- Requirement: A score of 5 out of 10 is required to pass the course.
Note: The resit exam (second call) will account for 60% of the final grade, with the remaining 40% coming from the continuous assessment. For subsequent calls, the exam will account for 100% of the grade.
|
Concept |
Method |
Weight |
|
Final Exam |
In-person |
60% |
|
Attendance |
In-person Individual (Freq./Quality) |
10% |
|
Tests & Activities |
In-person Individual |
10% |
|
Group Work |
Oral Presentation (10%) + Report (10%) |
20% |
Bibliography and resources
Required
- Krugman, P. R., Obstfeld, M., & Melitz, M. J. (2022). International Economics: Theory and Policy (12th ed.). Pearson.
Complementary References
- Mankiw, N. G. (2021). Principles of Economics (9th ed.). Cengage Learning.
- Mankiw, N. G. (2022). Macroeconomics (11th ed.). Worth Publishers.
- Baldwin, R., & Wyplosz, C. (2022). The Economics of European Integration (7th ed.). McGraw-Hill.
- Eichengreen, B. (2019). Globalizing Capital: A History of the International Monetary System (3rd ed.). Princeton University Press.
- Sachs, J. D. (2019). The Ages of Globalization: Geography, Technology, and Institutions. Columbia University Press.
- Mokyr, J. (2018). “The Past and the Future of Innovation: Some Lessons from Economic History.” Explorations in Economic History, 69, 13–26.
- Jones, G. (2005). Multinationals and Global Capitalism: From the Nineteenth to the Twenty-First Century. Oxford University Press.
Online Resources and Official Data Sources
- World Bank: Data and Open Reports
- Eurostat : Economy and Finance Statistics
- IMF: World Economic Outlook Reports
- United Nations (UNCTAD): World Investment Report
- WTO: World Trade Report
Note: Many of these reports are published annually. Students are encouraged to consult the latest available editions when preparing assignments and participating in class discussions, in order to ensure that their analyses are based on up-to-date economic data and current global developments.