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| Semester | spring semester 2022 |
| Course frequency | Every spring sem. |
| Lecturers | Rolf Weder (rolf.weder@unibas.ch, Assessor) |
| Content | Content: This course deals with the effects that arise from the globalization of markets. We derive challenges for economic policy and strategic management of international firms. International trade theory offers an excellent framework in this respect. We deal with questions such as: "Who gains and who loses from selective integration of markets?", "Which impacts arise from technological changes abroad and at home?", "Why do multinational firms exist and what strategies do or should they follow in different circumstances?", "How can we explain outsourcing and offshoring, what are the effects, how can international firms react?". The course not only provides answers to these questions, but also introduces the concepts which current research in international trade is based on and constantly is using. We present and discuss the fundamental contributions of the traditional and new trade theory, also referring to current research in the field; research has always been very dynamic in this field - theoretically and empirically. This requires that textbooks, papers in scientific journals as well as working papers on the graduate level are used in the course. One of the challenges of this course and of economics in general is to constantly ask in which way the insight can be useful for policy making and strategic management in companies. One or two guestlectures will be integrated in the course. |
| Learning objectives | Learning objectives: 1. to know the scientific discussion in international trade and international business regarding "Globalization" and "Outsourcing", 2. to understand the major contributions of the classical, neoclassical and new trade theories, and how these insights are used in the current literature, 3. to get an understanding, how trade economists simplify international relationships in order to analyze and answer the questions posed above, 4. to gain insight into the current research in international trade and business, 5. to get to know and be able to apply concepts which allow international companies and international organizations to develop strategies which are important in practice. |
| Bibliography | The relevant literature will be mentioned on the outline of the course. We will start with the foundation of international trade theory by David Ricardo in 1817 ("On Foreign Trade"), but also integrate most recent contributions from textbooks and articles published in international journals of economics and business. Papers will, whenever possible, be posted on ADAM in order that registered students in the course can easily download them from ADAM. |
| Comments | In 2022, I intend to use slightly more time for discussions on company strategies and economic policy in the light of the new technological developments ("Digitization") and the determinants of innovation. There will be two guests who will give a lecture followed by a discussion on each these two topics towards the end of the course. I also plan to give you the possibility to select extracts or invidual chapters of recently published papers and books to present them towards the end of the class. Details will made available at the beginning of the term. Note that this course is recommended as prerequisite for the following courses: A) International Trade, Resources and the Environment, offered by Prof. Scott Taylor (University of Calgary) in May 2022. B) Global Strategy and Multinational Companies, offered by Prof. Bradford Jensen (Georgetown University) in July 2022. |
| Weblink | Weblink |
| Admission requirements | Prerequisites: I expect that students have accomplished some courses in microeconomics on the BA level and that they have been confronted with a course or some material in International Trade or International Business on the BA level. The most important ingredient to the successful completion of the course is, however, the interest of students in topics of globalization and internationalization of firms and their willingness to read and regularly participate in class. |
| Course application | Registration: Please enrol in MOnA. EUCOR-Students and students of other Swiss Universities have to enrol at the students administration office (studseksupport1@unibas.ch) within the official enrolment period. |
| Language of instruction | English |
| Use of digital media | No specific media used |
| Interval | Weekday | Time | Room |
|---|---|---|---|
| wöchentlich | Thursday | 08.15-10.00 | Wirtschaftswissenschaftliche Fakultät, Seminarraum S15 HG.31 |
| wöchentlich | Friday | 08.15-10.00 | Wirtschaftswissenschaftliche Fakultät, Seminarraum S15 HG.31 |
| Modules |
Module: Business Field: Strategy and Organization (Master's Studies: Business and Technology) Module: Core Competences in Economics (Master's Studies: Sustainable Development) Module: Core Courses in Business and Economics (Master's Studies: Business and Economics) Module: Core Courses in International Trade, Growth and the Environment (Master's Studies: Business and Economics) Module: Field Electives in Economics and Public Policy (Master's Studies: Economics and Public Policy) Module: Specific Electives in Business and Economics (Master's Studies: Business and Economics) Module: Specific Electives in International Trade, Growth and the Environment (Master's Studies: Business and Economics) Specialization Module: Areas of Specialization in International and/or Monetary Economics (Master's Studies: International and Monetary Economics) Specialization Module: International Trade, Growth and the Environment (Master's Studies: Business and Economics (Start of studies before 01.08.2021)) Vertiefungsmodul Global Europe: Handel und Unternehmen in der Globalisierung (Master's Studies: European Global Studies) Vertiefungsmodul Global Europe: Regional Integration and Global Flows (Master's Studies: European Global Studies) |
| Assessment format | record of achievement |
| Assessment details | How to attain the learning objectives: Students should read the required reading in advance of each session. Some of this reading is very short. The required reading is reduced to the minimum. However, I will sometimes go beyond this material and integrate further aspects into the lecture from the additional reading or the list of bibliography found at the end of this outline. I mention this list also as an aid for further reading and for writing a term paper for the Seminar in International Economics or the Master's thesis. Problems or questions will be solved by the students and/or discussed in class. There will be a written final exam. I will give students the opportunity to earn additional grades for active participation in form of handing in short essays or assignments as well as short presentations during the term. These will will have an announced weight in the final grade. Detailed information will be given at the beginning of the course as well as in the outline that should be available two weeks before the semester. written exam: 03.06.22; 08:15-09:45. WWZ S15: A-Z. |
| Assessment registration/deregistration | Reg.: course registration, dereg: cancel course registration |
| Repeat examination | no repeat examination |
| Scale | 1-6 0,1 |
| Repeated registration | as often as necessary |
| Responsible faculty | Faculty of Business and Economics , studiendekanat-wwz@unibas.ch |
| Offered by | Faculty of Business and Economics |