EC6051 - Economics of Multinational Business (2017/18)
|Module specification||Module approved to run in 2017/18|
|Module title||Economics of Multinational Business|
|Module level||Honours (06)|
|Credit rating for module||15|
|School||Guildhall School of Business and Law|
|Total study hours||150|
|Running in 2017/18||
This module is concerned with the application of economic concepts and theories to our understanding of the multinational business. Using economic theories, the module will explain the existence and development of the multinational business and examine some of the strategies used by multinational business to enter foreign markets. Other important issues in the operations of multinational businesses such as cultural diversity and human resource management will also be considered. The overall aim of the Module is to provide students with the theoretical knowledge and business strategies for analyzing the multinational business. As part of the teaching strategies, case studies will be used.
Prior learning requirements
EC5006 Microeconomics or EC5001 Business Economics
The module aims to provide students with:
1. a broad overview of the operations of the multinational business in the global economy;
2. the ability to integrate and evaluate theoretical contributions in the literature relating to the causes and existence of multinational businesses which are the vehicles of the globalization process;
3. the ability to discuss how economic concepts can be applied in the explanations of the complex world of multinational businesses in the context of the global economy;
4. an increased awareness of current issues and the framework for analyzing problems facing multinational businesses in the global economy;
5. strategic thinking, analysis and judgement of current issues relating to multinational businesses in the global economy.
It also aims to develop students' skills, in particular: IT; interpersonal and team-working; problem solving; data analysis; academic study skills; applied analysis; and critical thinking.
The nature of the multinational business
Foreign Direct Investment: causes and consequences
Microeconomic theories of international production
Macroeconomic theories of international production
Foreign entry strategies
Multinational finance and treasury operations
Foreign exchange management
International marketing and supply chain management
International corporate cultures
International human resource management.
Learning and teaching
The method of teaching will be interactive. This will consist of the delivery of the main concepts and business strategies in the context of lectures. Case studies/examples/review questions will be discussed in the seminar sessions with emphasis on student participation. Traditional teaching is supported by a virtual learning environment (i.e. Weblearn) that contains the relevant lecture notes and other supporting material.
On successful completion of this module students will be able to:
1. develop an understanding of economics, the international business environment and the international operations of businesses;
2. understand the importance of culture and human resource management in determining international business success;
3. apply theoretical insights to the analysis of international business issues in the context of a complex international business environment;
4. communicate their understanding coherently through examinations, assignments and seminar discussions.
The examination will be 90 minutes and will require students to write answers to questions addressing the underlying principles or issues of the subject matter or provide solutions to technical questions.
The coursework will be an independent piece of work requiring the use of knowledge gained on the module
Cavusgil, S.T. et al (2011) International Business: Strategy, Management and the New Realities, 2nd Edition, Prentice-Hall.
Dicken, P. (2009) Global Shift, 4th Edition, Sage, London.
Gerber, J. (2008) International Economics, 4th Edition, Prentice-Hall.
Griffin, R. and Pustay, M. (2009) International Business, 6th Edition, Prentice-Hall.
Hill, C. (2009) International Business, 8th Edition, McGraw-Hill, New York.
Johnson, D. and Turner, C. (2003) International Business: Themes and Issues in Modern Global Economy, London: Routledge.
Czinkota, M. et al (2009) International Business, Wiley, Chichester.
Morrison, A. (2009) International Business, Palgrave McMillan, Basingstoke.
Peng, M. W., and Meyer, K. E. (2011) International Business, Cengage Learning EMEA, London.
Piggot, J. and Cook, M.(2006) International Business Economics,
Pitelis, C., and Sugden, R. (Eds) (2002) The Nature of the Transnational Firm, 2nd Edition, London, Routledge.
Rugman, A. M., and Collinson, S. (2006) International Business, 4th Edition, Prentice-Hall
Sitkin, A., and Bowen, N. (2010) international Business: challenges and Choices, Oxford University Press.
Verbeke, A. (2009) International Business Strategy, Cambridge: CambridgeUniversity Press.