Universitat Internacional de Catalunya

World Economics

World Economics
3
10338
2
Second semester
OB
Main language of instruction: Catalan

Other languages of instruction: English, Spanish

If the student is enrolled for the English track then classes for that subject will be taught in the same language and also in Spanish.
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

In the event that the health authorities announce a new period of confinement due to the evolution of the health crisis caused by COVID-19, the teaching staff will promptly communicate how this may effect the teaching methodologies and activities as well as the assessment.


One cannot pick up a newspaper or magazine without reading about something directly related to the word economy: Is the recovery going to take hold or will there be a double dip? What are central banks doing to regulate financial institutions and prevent the next crisis? Will the US dollar appreciate or depreciate against the yen and the euro? What is the effect of the macroeconomic environment on firm's internationalisation decisions and private business performance? How does it affect internal strategy-setting?

This course develops the analytical framework required for understanding these issues and their impact on business. At the end of the course you will be expected to assess critically how possible developments in the world economy will affect the economic environment and your businesses. You should finish the course with a clear understanding of the arguments for and against specific policies, and you should be able to analyse their effects on consumers, employees and businesses.

The course has two characteristics: firstly, it has an international slant. The vast majority of examples and case studies will deal with the international economy and multinational companies. Secondly, this course is extremely practical; concepts and models will only be discussed to the extent that they have a direct bearing on the understanding of real-life situations.

Pre-course requirements

Macroeconomics 1, Macroeconomics 2

Objectives

The overall objective of this course is to identify the main factors driving the performance of the world economy and its influence on the design of macroeconomic policies.

Competencies

  • 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

  1. Strategic analysis of corporate and government behaviour through homework and classroom activities.
  2. Through written assignments, look for information, case studies and articles concerning countries' economies.
  3. Identify of main globalisation drivers and their effect on countries' economy performance through written tasks.
  4. Oral presentations of written assignments related to teamwork assignments.
  5. Writing reports and presenting the main ideas obtained.
  6. Final examination to assess overview of subject.
  7. Individual exercises based on country and company reports.

Syllabus

1. Globalization –Overview –Global Challenges

2. Indicators

3. Trade theories

4. International trade system - GATT/WTO

5. International monetary & financial system - WB, IMF

6. United Nations

7. Multinationals

8. International courts

9. Economic integration stages - EU, USMCA, Mercosur, Asean

10. Measuring cross-border economy activity - Balance of Payments

11. Influencers, social movements impact on world economics

12. How you can contribute to the world that you would like to see

Teaching and learning activities

In person



Activities can be grouped into four major types: class exercises, group presentations, individual reports, practical sessions with guest speakers.

Evaluation systems and criteria

In person



 

- Stiglitz GDP class exercise: 5%

- Guest speakers’ questions: 10% each

- Multinationals case study: 20%

- Group presentation: 20%

- Final examination: 35%

The second sitting (in June or July) will use the same criteria as the first one for students who have followed the continuous evaluation system. They will just have to take a new final exam and the grades of the continuous evaluation will preserve.

Students who have not followed the continuous evaluation will have to submit all assignments, but the two assignments related with guest speakers’ presentations will not take place. The 20% marks from the guest speakers’ assignments will be allocated to the final exam that will weight 55%.

Bibliography and resources

Bibliography

Recommended Readings

Complementary Readings

  1. Krugman, Obstfeld, Melitz (2012), International Economics: Theory and Policy, 10th edition. Pearson

 

  1. Robert J. Carbaraug, Global Economics, 14th edition
  2. N. Gregory Mankiw (2010) Macroeconomics, 7th edition, Harvard University, Worth Publishers
  3. Financial Times
  4. The Economist
  5. OECD – Newsroom Wall Street Journal
  6. Business Week
  7. Bloomberg
  8. Thomson Reuters
  9. The Economics Network
  10. Country Economy