module specification

This module enables students to understand the dynamics of international business operations and evolving world markets. International economic issues influence the formulation of trade and investment policies as well as enterprise strategies, and this module gives students the opportunity to understand and discuss the challenges therein for multinational businesses. In recent years, we have seen dramatic economic changes such as new theoretical developments, empirical studies and the growing role played by emerging economies. The aim of this module is to give students a strong understanding of key theories and policies which will be analysed in the light of current international debates.

There are two main themes to this module. The first section of the module develops an understanding of the international business environment including globalisation of firms’ activities, the changing patterns of foreign direct investment, entry strategies including collaborative ventures, and global strategy. The second section of the module focuses on the global market place in which international businesses operate and comprises an understanding of trade theories and government policies from the perspective of international economics. The module enables the development of critical awareness of the relative strengths and weaknesses of different forms of economic analysis in the context of international business and world markets.

The International Business Environment
Nature of International business
Theorising multinational business; Dunning, Uppsala, Vernon
Critique of traditional economic theorising;
alternative theories of the firm, managerial growth models,
UK and international competition policy All LO1

Economic integration, customs unions and free trade areas
The International Business Environment
The globalisation of production and markets
Drivers of globalisation and the globalisation debate
Modes of foreign market entry; exporting, franchising, joint ventures, foreign direct investment through greenfield or acquisition. ALL LO2

International Business and the global Marketplace
Trade in the Global Economy LO3, LO4
  -Trade and technology: The Ricardian Model
  -Trade and resources: The Hecksher-Ohlin Model
  -Alternative theories of trade
Government intervention in International Business
  -Trade Policies: Tariffs and Nontariff barriers
Globalisation of Markets

Student contact time will normally be 3 hours per week. Lectures and small group seminars will typically be around 2 hours and 1 hour each respectively, and will deliver core subject knowledge in international business and world markets.  Seminars are designed to allow students to work co-operatively and creatively and develop analytical and problem-solving skills required for the in-class test, coursework and exam. Teamwork and leadership skills will be developed through the use of ‘live’ games and simulations.

To this end, the 1-hour seminar will focus on student learning through participation in problem-solving, presentation, group work, discussion of journal articles, empirical data and policy debates. These activities will also enhance students’ professional and transferrable skills such as team-work and communication. The students are expected to engage fully in reflective independent learning and formative feedback will be given at every opportunity to enhance the student skills and learning experience.

Students will get the chance to develop their critical analysis skills during the essay writing exercise and will develop their ability to engage with research published in academic journals. The in-class test assessments will develop students’ ability to engage in independent active learning and take greater responsibility of their learning experience and outcome.

The module will be 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, assessment strategy, coursework brief, assessment and grading criteria, deadlines and feedback details.

The development of career awareness is promoted within the module by introducing students to career development opportunities such as internships and work experience, job search techniques, employer recruitment strategies, self-presentation together with a review of skills sought by prospective employers. Written presentation including CVs and personal statements, networking, job application, interviews, and inter-cultural communication are also discussed.

On successful completion of the module, students will be able to:

1. demonstrate the ability to apply various business and economic methods to the
analysis of the international business environment;
2. demonstrate an understanding of multinational business strategy and operations and the challenges faced by multinational enterprises;
3. examine the development of trade, investment and finance policies;
4. evaluate the role played by multinational corporations in globalised markets by
considering economic, political and ethical issues

The assessment strategy is developed with the aim of testing the module's learning outcomes and consists of in-class tests, a coursework, and a 2-hour part-seen and part -unseen written exam. The in-class test will assess students’ ability to apply various business and economic methods to the analysis of the international business
operations, policies, trade theories and financial markets. The coursework is designed to develop students’ understanding of the conceptual framework of international business in the global marketplace and the challenges faced by multinational enterprises. The coursework will give students the opportunity to further research on topical issues while applying theoretical understanding. Essay questions are designed to develop critical thinking and the ability to evaluate ethical and policy dimensions of international business. It also enables understanding of the implications of the globalisation of business. A feed-forward strategy is used to enable students to improve their final coursework 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 exam will test the specified learning outcomes for second half of the module.
Revision activities and sessions are provided before the in-class tests and final exam to support students’ learning. This should boost students’ confidence and improve their performance.

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.

Books

Core Textbooks:

1. Carbaugh R. (2015). International economics, 15th ed., Southern-Western.
    Aldgate 337 CAR

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. Hill, C. (2018.) International business, competing in the global market place, 12th
    ed., New York, McGraw-Hill. Aldgate 658.049 HIL

4. Pugel, T. (2016). International economics, 16th ed., McGraw-Hill. Aldgate 382 PUG

Other Textbooks:

5. Appleyard D., Field A., and Cobb S. (2017). International economics, 9th Ed., McGraw Hill. Aldgate 337 APP
6. Dicken, P., (2015). Global shift: mapping the changing contours of the world economy, 7th Edition, Sage. Aldgate 338.0904 DIC
7. Gerber J. (2017). International economics 7th ed., Pearson Education. This is an E-Book. Earlier editions are available as hard copies at Aldgate 337 GER
8. Krugman, P. and Obstfeld, M. (2015). International economics: theory and policy, 10th Ed., Pearson Education. This is an E-Book. Earlier editions are available as hard copies at Aldgate 337 KRU
9.  Morrison J. (2016) The global business environment, Palgrave Macmillan
     Aldgate 337 MOR
11.  Salvatore D. (2014). International economics, 11th ed., Wiley & Sons.
     Aldgate 337 SAL
12. Sloman J. Hinde K., and Garatt (2016) Economics for business, 7h ed., Pearson
     This is an E-Book. Earlier editions are available as hard copies at
     Aldgate 330.024658 SLO

Journals:
International Business Review
International Business
Journal of World Business
Research in International Business and Finance
Business Source Complete

Electronic Databases:
Science Direct
Emerald Management eJournals
IngentaConnect
Eurostat, IEA, IMF, OECD, UNIDO and World Bank
Passport