FE6051 - Economics of Multinational Business (2023/24)
|Module specification||Module approved to run in 2023/24|
|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 2023/24(Please note that module timeslots are subject to change)||No instances running in the year|
The overall aim of the module is to provide students with the theoretical knowledge of business behaviour and an understanding of a range of business strategies, to analyse multinational business. The module is concerned with the application of economic concepts and theories to an understanding of multinational business and strategic issues and dilemmas facing business managers in an international setting. Using economic theories, the module aims to explain the development of the multinational business and the emergence of the globalisation process. It examines and evaluates some of the strategies used by multinational businesses to enter foreign markets. It provides an overview of the operations of the multinational business in the world economy such as supply chain management, human resource management, foreign exchange management, and managing cultural diversity and ethics.
This module provides opportunities for developing the student’s strategic thinking, and the analysis and assessment of current issues challenging multinational businesses in the global economy.
Internationalisation is addressed in all the topics covered in this module.
Students are encouraged to reflect and draw on their diverse socio-cultural backgrounds and experiences.
Discussion of cultural diversity, human resource management and ethics enables students to develop a deep understanding of equality issues in multinational business and its environment.
Equality is promoted by treating everyone with equal dignity and worth, and raising aspirations and supporting achievement for those students with diverse requirements, entitlements and backgrounds
The module also aims to develop students' employability skills, in particular: subject research; problem solving; written communication, critical thinking, evaluation and applied analysis.
The nature of the multinational business
Globalisation process and debate
Theories of internationalisation of production
Foreign Direct Investment: recent trends in FDI amongst developed and emerging economies, evaluation of economic impact on host and home countries
Foreign entry strategies and their evaluation LO1
Global financial management
Foreign exchange management
Global marketing and supply chain management
Global cultural diversity
Global human resource management
Corporate social responsibility and ethics LO2
Balance of independent study and scheduled teaching activity
This module is delivered through weekly two-hours lectures and a weekly one-hour seminar. The teaching method is interactive and consists of the delivery of the main concepts and business strategies in the lectures and discussion of case studies/examples/ review questions in the seminars with emphasis on student participation.
Students are expected to complement the 'formal' learning activity with further reading of the material suggested in the teaching sessions; solving business problems; answering seminar questions; examining multinational business case studies; conducting research, planning, preparing and writing coursework; and revising for the final exam.
Traditional teaching is supported by a virtual learning environment (Weblearn) that contains all the relevant learning and teaching materials such as lecture slides, seminar questions, case studies, guideline answers to case studies and seminar questions, past exam papers, assessment strategy, coursework brief, assessment and grading criteria, deadlines and feedback details.
Students are encouraged to reflect on their learning development through the formative assessment and individual coursework.
Students' employability skills, in particular: subject research; problem solving; written communication, critical thinking and applied analysis, are developed in lectures, seminars, through independent directed learning and a range of assessment components.
On successful completion of this module students will be able to:
1. Evaluate theoretical knowledge, analyse, provide reasoning and apply understanding to complex international business issues and the business environment with reference to themes such as globalisation, the internationalisation of production, foreign market entry, foreign investment and international trade.
2. Appraise different issues involved in the operations of the multinational businesses in the global economy, in areas such as supply chain management, financial management, foreign exchange management, human resource management, and the management of cultural diversity and ethical decisions.
The summative assessment and feedback practices is informed by reflection, consideration of professional practice, subject-specific knowledge and educational scholarship.
The summative assessment consists of one individual coursework (2000 words essay) assessing learning outcomes 1 and 2.
Through the summative assessment, students are provided with opportunities to develop an understanding of, and the necessary skills to demonstrate, good academic practice.
The coursework is an independent piece of work requiring the application of knowledge gained on the module. A feed-forward strategy is used to enable students to improve their final submission. The feed-forward strategy and class discussion of a detailed grading and assessment criteria create an opportunity for dialogue between students and staff and promote a shared understanding of the basis on which academic judgements are made. The coursework is submitted in teaching week 12.
All the information about the processes of marking and moderating marks, the timing of assessments and deadlines for feedback provision are clearly provided in the module booklet and communicated to students through Weblearn as well.
Comprehensive reading lists are provided to students in their handbooks.
Reading Lists will be updated annually.
1. Hill, C. (2017.) International business, competing in the global market place, 11th
ed., New York, McGraw-Hill. Aldgate 658.049 HIL
2. Cavusgil, S.T. et al (2017). International business: strategy, management and the
new realities, 4th ed., Prentice-Hall. This is an E-Book. Earlier editions are available
as hard copies at Aldgate 658.049 CAU
3. Czinkota, M. et al (2011). International business, 8th ed., Chichester, Wiley.
Earlier editions are available at Aldgate 658.049 CZI
4. Daniels, J.D. and Radebaugh, L. H. (2015). International business, 15th ed., Harlow,
Pearson. This is an E-Book. Hard copies of earlier editions are available at Aldgate
5. Dicken, P. (2015). Global shift, 7th ed., London, Sage. Holloway Road 338.0904 DIC
6. Gerber, J. (2017). International economics, 7th ed., Harlow, Pearson. This is an
E-book. Earlier editions are available as hard copies at Aldgate 337 GER
7. Griffin, R. W. and Pustay, W. M. (2015). International business, 6th ed., Upper
Saddle River, N.J., Pearson-Prentice-Hall. This is an E-Book. Hard copies of earlier
editions are available at Aldgate Library.
7. Hill, C. (2017). Global business today, 10th ed., New York, McGraw-Hill.
Aldgate 658.049 Hil
8. Johnson, D. and Turner, C. (2010). International business: themes and issues in
modern global economy, 2nd ed., London: Routledge. Aldgate 658.049 JOH
9. Morrison, A. (2009). International business, Basingstoke, Hampshire, Palgrave
MacMillan. Aldgate 658.049 MOR
10. Peng, M. W., and Meyer, K. E. (2011). International business, London, Cengage
Learning EMEA. Aldgate 338.88 PEN
11. Piggot, J. and Cook, M. (2006). International business economics, a European
perspective, Basingstoke, Hampshire, Palgrave Macmillan. This is an E-Book. Hard
copies of earlier editions are available at Aldgate 338.8894
12. Pitelis, C., and Sugden, R. (Eds) (2002). The nature of the transnational firm, 2nd
ed., London, Routledge. This is an E-book.
13. Rugman, A. M., and Collinson, S. (2012). International business, 6th ed., Prentice-
Hall. This is an E-book. Earlier editions are available as hard copy at
Aldgate 658.049 RUG
14. Sitkin, A., and Bowen, N. (2013). International business: challenges and choices,
2nd ed., Oxford, Oxford University Press. Aldgate 658.049 SIT
15. Verbeke, A. (2009). International business strategy: rethinking the foundations of
global corporate success, Cambridge, Cambridge University Press.
This is an E-book.
Databases & Academic Journals
Journal of International Business Studies - various issues.
Business Source Complete
World Bank e-library
ESDS (for international data)
Emerald Management e-journals
Sage Journal Online
Eurostat, IEA, IMF, OECD, UNIDO and World Bank
UK Data Service