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    International Finance & Economics

    Track:All tracks
    Follow-up / Interfaces:      Financial Decision Making
    Pre-requesites:Pre-reading and preparation tasks
    Didactics:

    Lecture, case studies, group tasks, individual tasks, plenum discussions
    Exam:Written exam
    ECTS points:5
    Lecturer:Prof. Dr. Ludwig von Auer

     

    Aims and objectives: 

    The aim of this unit is to enable students to describe and explain international business linkages and to forecast future developments with the aid of basic micro- analytical methods. Students should also develop the ability to access critically the efforts of economic policy decisions at home and abroad on national and international economic development. A further aim is to enable students to use the acquired knowledge appropriately in their everyday business life. The unit introduces the most important developments in international economics. It exposes participants to conceptual and methodological issues in the areas of international trade, while emphasizing applications of the theory to current policy questions. 

    General learning objectives:

    The MBA programme should provide all participants with a substantial knowledge of all relevant business areas and a holistic understanding of the value chain of a commercial company and how the different functions work together. They should have the insight how to organize and steer an organization.
    The participants of the MBA programme should gain particular knowledge in the description and analysis of financial data and the rules for financial decision making.

    Detailed learning outcomes:

    • Understanding the most important developments in international economics
    • Interpreting conceptual and methodological issues in the areas of international trade, while emphasizing applications of the theory to current policy questions
    • Describing and explaining international business linkages and forecasting future developments with the aid of basic micro- analytical methods
    • Analyzing international business organizations, processes, projects, tasks and any business related structure
    • Developing and defining theory driven, but applied problem solutions for the different areas of international business management
    • Accessing critically the efforts of economic policy decisions at home and abroad on national and international economic development
    • Using the acquired knowledge appropriately in their everyday business life

    Course textbook: 

    There is no single textbook. The content is best covered in the following textbooks

    • Feenstra, Taylor (2008), International Economics, 1st ed. 
    • Krugman, Obstfeld (2009), International Economics: Theory and Policy, 8th ed.
    • Pindyck und Rubinfeld, Microeconomics, 7th edition, 2009.

    Content of International Finance and Economics: 

    I. Business Economics
    • Production
    • Consumption
    • Market Equilibrium
    II. International Trade:
    Theory and Policy
    • Introduction
    • Benefits  of World Trade
    • Basic Tariff Analysis
    • Other Instruments of Trade Policy
    III. International Finance
    • Financial Assets, Exchange Rates, and Parities

    Recommended supplemental readings: 

    Recent articles in the weekly “Economist” 

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