2024/2025 BA-BHAAI1101U Economics of Global Business
English Title | |
Economics of Global Business |
Course information |
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Language | English |
Course ECTS | 7.5 ECTS |
Type | Elective |
Level | Bachelor |
Duration | Summer |
Start time of the course | Summer |
Timetable | Course schedule will be posted at calendar.cbs.dk |
Min. participants | 30 |
Max. participants | 100 |
Study board |
Study Board for BSc in Economics and Business
Administration
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Course coordinator | |
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For academic questions related to the course, please contact course responsible Rodrigo Zeidan (rze.fi@cbs.dk) | |
Main academic disciplines | |
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Teaching methods | |
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Last updated on 07/11/2024 |
Relevant links |
Learning objectives | ||||||||||||||||||||||||||
To achieve the grade 12, students should meet the
following learning objectives with no or only minor mistakes or
errors:
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Course prerequisites | ||||||||||||||||||||||||||
None. | ||||||||||||||||||||||||||
Examination | ||||||||||||||||||||||||||
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Course content, structure and pedagogical approach | ||||||||||||||||||||||||||
Course content: The beginning of the 21st century marks a period of growth and
challenge to developing and developed economies. In this course, we
will learn the basic tools to understand how to analyze economic
phenomena.
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Description of the teaching methods | ||||||||||||||||||||||||||
Tests, lecture notes, case studies, in class examples, worksheets, excel spreadsheets, and articles from financial press, which will form the basis for of the class discussions. | ||||||||||||||||||||||||||
Feedback during the teaching period | ||||||||||||||||||||||||||
Feedback will be constantly provided and the students will get formal feedback if they choose to do the midterm assignment, to be delivered after Class 6. | ||||||||||||||||||||||||||
Student workload | ||||||||||||||||||||||||||
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Further Information | ||||||||||||||||||||||||||
6-week course.
Preliminary Assignment: The course coordinator uploads Preliminary Assignment on Canvas at the end of May. It is expected that students participate as it will be included in the final exam, but the assignment is without independent assessment and grading.
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Expected literature | ||||||||||||||||||||||||||
Mandatory readings:
Case study Chapter 3 – Reconstruction Aid and Economic Outcomes Case study Chapter 3 – Refugees, adjustment costs and long-run development Case study Chapter 3 – The macroeconomic impact of migration Case study Chapter 4 – Identifying stagflations Case study Chapter 5 – Spain Financial Crisis Case study Chapter 5 – The output and fiscal impact of financial crises Case study Chapter 6 – The emergence of the loanable funds (credit) market in Europe Case study Chapter 7 – Monetary and fiscal policy in Canada Case study Chapter 8 – Implementation of fiscal policy Case study Chapter 9 – Exchange rate movements following shocks in commodities prices Case study chapter 10 – War reparation and its effects Case study chapter 11 – China’s Belt and Road Initiative Case study Chapter 11 – The Importance of Institutions, The Case of Pakistan Case study Chapter 11 – To fix or not to fix the case of commodities producers Case study chapter 12 – Piketty and Wealth Inequality R before G, Except After C Case study chapter 12 – Pre and post transfer income inequality Case study Chapter 13 – Poverty alleviation and the environment in Africa Case study Chapter 15 – Managing a currency crisis and Turkey in 2018
Additional relevant readings: GDP Fetishism (Joseph E. Stiglitz) - 2009_GDP_Fetishism.pdf. Economic Growth vs. Economic Development – (http://www.diffen.com/difference/Economic_Development_vs_Economic_Growth) GDP and its Importance: ( http://www.investopedia.com/articles/investing/121213/gdp-and-its-importance.asp) Optional: Long-Term Growth of the U.S. Economy: Significance, Determinants, and Policy. ( https://pdfs.semanticscholar.org/6b9f/fb8defe21aa91259a37a4319f5eaa01b9236.pdf) Optional: Rethinking Macroeconomics.pdf (Joseph Stiglitz) For richer, for poorer _ The Economist.pdf China unlocks right kind of growth - FT.pdf GDP and the US Economy: 3 Ways to Measure Economic Production ( http://mic.com/articles/14943/gdp-and-the-us-economy-3-ways-to-measure-economic-production) China's GDP Examined: A Service-Sector Surge ( http://www.investopedia.com/articles/investing/103114/chinas-gdp-examined-servicesector-surge.asp Optional: People in Emerging Markets Catch Up to Advanced Economies in Life Satisfaction: Asians Most Optimistic about Future, Middle Easterners the Least ( http://www.pewglobal.org/2014/10/30/people-in-emerging-markets-catch-up-to-advanced-economies-in-life-satisfaction/) Long Run Trend Rate of Growth ( http://www.economicshelp.org/blog/5105/economics/long-run-trend-rate-of-growth/) Is economic growth permanently lower? ( http://blogs.ft.com/gavyndavies/2014/10/26/is-economic-growth-permanently-lower/) Optional: Long−Run Economic Growth: An Interdisciplinary Approach. ( https://business.illinois.edu/working_papers/papers/01-0121.pdf) Optional: Institutions as the Fundamental Cause of Long-Run Growth ( http://ciep.itam.mx/~rahul.giri/uploads/1/1/3/6/113608/institutionslongrungrwth_acemoglujohnsonrobinson_ch6handbkofecongrwth2005.pdf) The curse of weak global demand - FT.pdf Understand Business Cycle– Upward-Boom, Downward-Bust– Economic Movements-Shifts: Critical for Good Decision-Making ( http://bizshifts-trends.com/2013/04/18/understand-business-cycle-upward-boom-downward-bust-economic-movements-shifts-critical-for-good-decision-making/) Inflation targeting.pdf Optional: THE QUANTITY THEORY OF MONEY: ITS HISTORICAL EVOLUTION AND ROLE IN POLICY DEBATES - advance-QTM.pdf Optional: QTM short and long run.pdf Optional: Inflation_Targeting_Overview.pdf Optional: Money and Inflation (http://www.cfeps.org/pubs/wp-pdf/WP12-Wray.pdf) Radical cures for unusual economic ills - FT.pdf Optional: The financial cycle and macroeconomics: What have we learnt? (http://www.bis.org/publ/work395.pdf) Optional: The Evolution of Economic Understanding and Postwar Stabilization Policy ( http://www.kc.frb.org/publicat/sympos/2002/pdf/S02RomerandRomer.pdf) Improving public finances is both a moral and technical challenge - FT.pdf Alan Blinder_ Our Fiscal Policy Paradox – WSJ.pdf Alan Blinder_ The Long and Short of Fiscal Policy – WSJ.pdf UK government spending_ Back to the future - FT.pdf Fiscal policy should not be decided by simplistic rules – FT Brazil a tale of two countries.pdf The battle over the public finances will define Britain - FT.pdf Optional: CHINA Economic Growth and Rebalancing.pdf Optional: The People Republic of China Potential Growth Rate - Long Run Constraints.pdf Optional: The curious case of Brazil’s closedness to trade (http://www.voxeu.org/article/brazil-s-closedness-trade) US-Korea Trade.pdf China’s current-account surplus_ Fair play or foul_ _ The Economist.pdf 6 Factors That Influence Exchange Rates ( http://www.investopedia.com/articles/basics/04/050704.asp) Purchasing Power Parity: Link Between Exchange Rates and Inflation ( http://economics.about.com/od/purchasingpowerparity/a/ppp.htm) Will China Fund the World's Next Round of Economic Expansion? ( http://www.forbes.com/sites/anaswanson/2014/10/26/will-china-fund-the-worlds-next-round-of-economic-expansion/) Optional: The Age of Chinese Capital.pdf Optional: Does the Exchange Rate Regime Matter for Inflation and Growth? (http://www.imf.org/external/pubs/ft/issues2/) Emerging markets_ No longer crawling _ The Economist.pdf De Facto Classification of Exchange Rate Regimes and Monetary Policy Framework ( https://www.imf.org/external/np/mfd/er/2006/eng/0706.htm) Optional: Case Study: The Breakup of the Bretton Woods System ( http://2012books.lardbucket.org/books/policy-and-theory-of-international-finance/s15-07-case-study-the-breakup-of-the-.html) Optional: Exchange Rate Regimes - Classification and Consequences.pdf Optional: Key Issues in International Monetary and Financial Reform: A Personal Record of the Conference: IFS.pdf Optional: Exchange Rate Regimes in the Modern Era.pdf Free exchange_ Horns of a trilemma _ The Economist.pdf China’s balance of payments: current and capital accounts now pulling in different directions ( http://www.simontaylorsblog.com/2012/09/18/chinas-balance-of-payments-current-and-capital-accounts-now-pulling-in-different-directions/) People’s Bank of China_ The charm of the BBC _ The Economist.pdf Optional: Country Report Brazil ( https://economics.rabobank.com/publications/2014/february/country-report-brazil/) Optional: LATIN_AMERICA_TOPICS_10-01-13.pdf The global monetary system_ Injured reserve _ The Economist.pdf Optional: Independent Monetary Policy in a Very Open Economy.pdf Optional: Maintaining Financial Stability in an Open Economy_ Sweden in the Global Crisis and Beyond.pdf Optional: The global monetary system_ Not floating, but flailing _ The Economist.pdf
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