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ECO8060 Business in the International Economy

Semester 2, 2012 On-campus Toowoomba
Units : 1
Faculty or Section : Faculty of Business and Law
School or Department : School of Accounting, Economics and Finance
Version produced : 30 December 2013

Contents on this page

Staffing

Examiner: Mafiz Rahman
Moderator: Khorshed Alam

Other requisites

Students are required to have access to a personal computer, e-mail capabilities and Internet access to UConnect. Current details of computer requirements can be found at http://www.usq.edu.au/current-students/support/computing/hardware.

Rationale

Modern business has become international in orientation. Professional managers need a sound understanding of international business, especially from the economic and strategic perspectives. The rationale, formulation and execution of international strategies within a rapidly changing global economy are vital for successful business. Modern managers should have a broad global perspective, a clear vision of the future of international business, risk and uncertainties involved in running a business, dynamics of emerging economies and strong strategic skills.

Synopsis

This course is focused on international business strategy in the changing global economy. The participants of international business and the current global business environment are analysed. Trade, government intervention, competitiveness, national policy, and emerging markets are related to international business strategy. National business environment and policies are analysed with emphasis placed on international business strategy, economic integration and globalisation. Key aspects of doing business overseas including multinational corporation activities are reviewed, emphasising international business strategy in action. Students will develop a broad vision of international business and its likely future challenges as well as practical skills in strategic analysis. Formerly MGT8060.

Objectives

On successful completion of this course, students should be able to:

  1. understand the importance of international business in the global economy; outline the key economic concepts for international business; identify key ideas of trade and competitiveness and apply these to international business strategy; understand the main features of globalisation and economic integration and their effects on international business
  2. explain the importance of national policies taking into account current global financial and economic conditions in developing international business strategies; critically analyse the business ethics, cultural, political and legal factors that affect international business
  3. articulate and analyse the main issues including MNC activities in framing an international business and investment strategy, understand the emerging markets and their attractiveness and potential for international business; articulate a clear vision of future directions and challenges for international business taking into account issues of risks and uncertainties
  4. demonstrate written communication skills including the ability to produce a concise and professional report, using language literacy, computer literacy and numeracy, on business strategic analysis and economic issues that demonstrates an understanding of the intended audience, as well as appropriate delivery, structure and purpose; handle the businesses that have local, national and international contexts; demonstrate problem solving skills required by business managers through the use of appropriate business strategies; develop self-creativity and take appropriate initiatives with regard to economic and business decisions.

Topics

Description Weighting(%)
1. International business and trade in the global economy 25.00
2. The environment of international business 40.00
3. Strategy and opportunity assessment 12.00
4. Entering and operating in international markets and future challenges 23.00

Text and materials required to be purchased or accessed

ALL textbooks and materials available to be purchased can be sourced from USQ's Online Bookshop (unless otherwise stated). (https://bookshop.usq.edu.au/bookweb/subject.cgi?year=2012&sem=02&subject1=ECO8060)

Please contact us for alternative purchase options from USQ Bookshop. (https://bookshop.usq.edu.au/contact/)

  • Cavusgil, ST, Knight, G & Riesenberger, JR 2012, International business: the new realities, 2nd edn, Pearson Prentice Hall, Upper Saddle River, New Jersey.

Reference materials

Reference materials are materials that, if accessed by students, may improve their knowledge and understanding of the material in the course and enrich their learning experience.
  • Ball, D, McCulloch, W, Geringer, M, Frantz, P & Minor, M 2010, International business: the challenge of global competition, 12th edn, McGraw-Hill/Irwin, Boston, Massachusetts.
  • Besanko, D, Dranove, D, Shanley, M & Schaefer, S 2010, Economics of strategy, 5th edn, John Wiley & Sons, Hoboken, New Jersey.
  • Sawyer, WC & Sprinkle, RL 2009, International economics, 3rd edn, Pearson Prentice Hall, Upper Saddle River, New Jersey.
  • Wild, JJ, Wild, KL, Han, JCY & Rammal, HG 2007, International business: the challenges of globalization, Pearson Education, Frenchs Forest, New South Wales.
    (Australasian edition.)
  • Lamberte, MB 2005, Asian economic cooperation and integration: progress, prospects and challenges, Asian Development Bank, Manila. (pages 3-41 available at http://www.adb.org/Documents/Books/Asian-Economic-Cooperation-Integration/chap1.pdf).
  • Masson, P 2001, Globalisation: facts and figures, IMF Policy Discussion Paper PDP/01/04, IMF, Washington. (available at http://www.imf.org/external/pubs/ft/pdp/2001/pdp04.pdf).

Student workload requirements

Activity Hours
Assessments 30.00
Directed Study 65.00
Private Study 70.00

Assessment details

Description Marks out of Wtg (%) Due Date Notes
ASSIGNMENT 1 20 20 10 Aug 2012 (see note 1)
ASSIGNMENT 2 30 30 01 Oct 2012 (see note 2)
EXAM A (MULTIPLE-CHOICE) 15 15 End S2 (see note 3)
EXAM B & C (SHORT ANS & ESSAY) 35 35 End S2

NOTES
  1. Assignment 1 consists of 10 multiple-choice questions and 1 essay question.
  2. Assignment 2 is a comprehensive report.
  3. The examination is scheduled to be held in the end-of-semester examination period. Students will be advised of the official examination date for exam (A, B and C) after the timetable has been finalised. The total working time for exam (A, B and C) is 2 hours.

Important assessment information

  1. Attendance requirements:
    It is the students' responsibility to attend and participate appropriately in all activities (such as lectures, tutorials, laboratories and practical work) scheduled for them, and to study all material provided to them or required to be accessed by them to maximise their chance of meeting the objectives of the course and to be informed of course-related activities and administration.

  2. Requirements for students to complete each assessment item satisfactorily:
    To satisfactorily complete an individual assessment item a student must achieve at least 50% of the marks. (Depending upon the requirements in Statement 4 below, students may not have to satisfactorily complete each assessment item to receive a passing grade in this course.)

  3. Penalties for late submission of required work:
    If students submit assignments after the due date without prior approval of the examiner, then a penalty of 5% of the total marks gained by the student for the assignment may apply for each working day late up to ten working days at which time a mark of zero may be recorded.

  4. Requirements for student to be awarded a passing grade in the course:
    To be assured of receiving a passing grade a student must achieve at least 50% of the total weighted marks available for the course.

  5. Method used to combine assessment results to attain final grade:
    The final grades for students will be assigned on the basis of the aggregate of the weighted marks obtained for each of the summative assessment items in the course.

  6. Examination information:
    This is a restricted examination. Candidates are allowed access to specific materials during the examination. The only materials that candidates may use in the restricted examination for this course are: writing materials (non-electronic and free from material which could give the student an unfair advantage in the examination); English translation dictionaries (but not technical dictionaries).

  7. Examination period when Deferred/Supplementary examinations will be held:
    Any Deferred or Supplementary examinations for this course will be held during the next examination period.

  8. University Student Policies:
    Students should read the USQ policies: Definitions, Assessment and Student Academic Misconduct to avoid actions which might contravene University policies and practices. These policies can be found at http://policy.usq.edu.au.

Assessment notes

  1. Assignments: (i) The due date for an assignment is the date by which a student must despatch the assignment to the USQ. The onus is on the student to provide proof of the despatch date, if requested by the examiner. (ii) Students must retain a copy of each item submitted for assessment. This must be produced within 24 hours if required by the examiner. (iii) In accordance with university policy, the examiner may grant an extension of the due date of an assignment in extenuating circumstances. (iv) Students who do not have regular access to postal services or who are otherwise disadvantaged by these regulations may be given special consideration. They should contact the examiner to negotiate such special arrangements. (v) In the event that a due date for an assignment falls on a local public holiday in their area, such as a show holiday, the due date for the assignment will be the next day. Students are to note on the assignment cover the date of the public holiday for the examiner's convenience.

  2. Referencing in assignments: Harvard (AGPS) is the referencing system required in this course. Students should use Harvard (AGPS) style in their assignments to format details of the information sources they have cited in their work. The Harvard (AGPS) style to be used is defined by the USQ Library's referencing guide at http://www.usq.edu.au/library/referencing.

  3. Course weightings: Course weightings of topics should not be interpreted as applying to the number of marks allocated to questions testing those topics in an examination paper. The examination may test material already tested in assignments.

  4. Deferred work: Students who, for medical, family/personal, or employment-related reasons, are unable to complete an assignment or to sit for an examination at the scheduled time may apply to defer an assessment in a course. Such a request must be accompanied by appropriate supporting documentation. One of the following temporary grades may be awarded: IDS (Incomplete - Deferred Examination); IDM (Incomplete Deferred Make-up); IDB (Incomplete - Both Deferred Examination and Deferred Make-up).

Other requirements

  1. Computer, e-mail and Internet access: Students are required to have access to a personal computer, e-mail capabilities and Internet access to UConnect. Current details of computer requirements can be found at http://www.usq.edu.au/current-students/support/computing/hardware.