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6EC500 INTERNATIONAL BUSINESS ECONOMICS AND

STRATEGY
Module Handbook 2015-16

Table of contents
Module Description ............................................................................................................... 2

Module Learning Outcomes .................................................................................................. 2

Module Content..................................................................................................................... 2

Module Learning and Teaching Methods .............................................................................. 3

Module Textbooks ............................................................................................................. 4

Semester 1 – Spring 2016 .............................................. Error! Bookmark not defined.

Semester 2 – Autumn 2016 ........................................................................................... 4

Attendance ......................................................................... Error! Bookmark not defined.

Assessment .......................................................................................................................... 4

Assessment Methods for Semester 1 – Spring 2016 .......... Error! Bookmark not defined.

Assessment Methods for Semester 2 – Autumn 2016 ....................................................... 5

Work Schedule Semester 1 – Spring 2016............................. Error! Bookmark not defined.

Work Schedule Semester 2– Autumn 2016........................................................................... 7

RESOURCES ....................................................................................................................... 8

Semester 1 – Spring 2016 .................................................. Error! Bookmark not defined.

Semester 2 – Autumn 2016 ............................................................................................... 8

RELEVANT JOURNALS – via Emerald or EBSCO Business Premier ........................... 9

OTHER RESOURCES ................................................................................................... 9

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Module Description
This module presents a powerful combination of economics and strategy that employs a rigorous
analytical approach in the study of international business. As part of this module, you will explore
the major global economic shifts and understand the theories of the globalisation of business. You
will study the key underpinnings, trends and challenges of international trade and foreign direct
investment. You will gain an insight into the workings of the international financial system and
understand the problems faced by the multinational companies when dealing with foreign exchange
and interest rates. You will analyse the importance of government and institutions in
controlling/regulating international business behaviour. This will, then, allow you to examine the
different, and often conflicting, perspectives and theories in the field of strategy evident in the
current debate among academics and practitioners. Strategic management provides a critical aspect
of the international business as it ensures the long-term sustainability of the business in ever-
changing, and often hostile, international and global business environment. As part of this module,
you will learn how to develop a strategy for an international business as well as how to implement
such a strategy. When putting strategy into action you will consider a range of complex issues like
culture, leadership, corporate governance and others.

Throughout this module, you will develop critical practical skills valued by employers and
professional accreditation bodies. These include selecting and interpreting data, problem-solving
and decision-making, positioning analysis, and developing and evaluating strategic options. Such
skills are vital for successful careers in a variety of international and domestic organisations.

Module Learning Outcomes

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

1. Integrate the theories of international trade and investment in an applied analysis of

observed business behaviour;
2. Critically evaluate the activities and strategies of international businesses in light of
economic policies and regulations;
3. Compare and contrast the key concepts and contemporary theories relating to business
strategy and strategic management;
4. Apply appropriate and relevant theories to complex business situations to determine future
strategic direction and provide recommendations for implementation;
5. Critically evaluate strategic options and select the most appropriate to implement to ensure
the long-term sustainability of an organisation.

Module Content
In the first half of the module, you will look at the patterns of globalisation and you will study the
theories of international trade and foreign direct investment. We will analyse the case for trade
liberalisation and the arguments behind national protectionist trade policies. You will examine the
importance of regional economic integration efforts and of supra-national organisations like the
WTO. Next you will gain an overview of how the international monetary system works and what are
its implications for business, namely the impact of foreign exchange regimes and currency
management. You will analyse the role of foreign direct investment (FDI) and evaluate the strategies
available for the internationalisation of businesses.

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In the second half of the module, we will look at strategic decision-making, distinguishing between
the different levels of strategy at – functional/operational, business and corporate levels. You will
start by analysing the strategic position of an international business and evaluate its resources and
capabilities (positioning analysis). You will then learn how to formulate, evaluate and implement
consumer-driven strategies, and how the values of the company and ethical considerations affect a
company’s mission. Strategic options development will consider the methods of strategic growths
(organic, mergers and acquisitions, strategic alliances), strategic choices, their development and
evaluation, are taught alongside contemporary topics to do with the hypercompetitive strategies
and complexity management, among others. Specific attentions will be given to the international
and global strategy development and implementation issues.

‘Strategy in action’ element forms an important part of this module. It is introduced through a range
of seminars designed to develop skills necessary for strategy implementation: communication
strategies, change management, stakeholder negotiations and corporate governance, cultural
dexterity in management and leadership

Module Learning and Teaching Methods

You will learn through a combination of lectures and seminars and will be expected to work through
the course materials available online for each topic in advance. The lectures will outline theories,
analyse current events and introduce you to guest speakers, business experts and recruiters.
Seminars will be driven by questions and discussion of the topics and case studies relating to theory
and practice.

In seminars, you will prepare tasks both individually and working within a small group: analysing
data, working through theories and preparing case studies. There will be a substantial amount of
directed reading, both from the core texts, academic journals and internet sources. We will
encourage you to read widely for this subject, and to use both your personal work experiences
(where relevant) and your previous knowledge in order to develop your analytical study skills of the
global business environment and strategy. Clinics will provide you with an additional assessment
support..

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Module Textbooks

Semester 2 – Autumn 2016

Core text: Griffin, R. and Pustay, M. (2012) International Business, 7th Edition, Pearson Education

Supportive text: Krugman, P.R., Obstfeld, M. and Melitz, M. (2011) International Economics: Theory
and Policy, 9th Edition, Pearson Education

Assessment
Assessment Rationale: It is intended that students should be able to consider theories and concepts
in a critical and analytical manner. Students should also be able to apply theories to the activities of
global business that they observe.

Assessment Criteria: Students will be expected to undertake effective research and to present their
findings in an organised structure. You must demonstrate a critical awareness of the activities of
global business.

Quality Indicators: Please refer to the student regulations and to the DBS guidelines for information
and policy concerning plagiarism. The standard descriptors from the Undergraduate Grading scale
will be used throughout the module. Please see the Programme handbook.

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Assessment Methods for Semester 2 – Autumn 2016
The assessment (weighting 50% of the module grade) will consist of two computer assessments and
one written essay.

Assessment Component Details Deadline

Test of knowledge of the key topics
(1)
studied. Week 5 of the first
Computer test 1 semester
Time-constrained - 50 min.
(10% of module grade – TBC
Multiple-choice questions - approx. 25
Learning Outcome 1)
questions.
Test of knowledge of the key topics
(2)
studied. Week 12 of the first
Computer test 2 semester
Time-constrained - 50 min.
(10% of module grade – TBC
Multiple-choice questions - approx. 25
Learning Outcome 1)
questions.

(3) A 2,500 words essay on an international Individual

A 2,500 words individual
essay
(30% of module grade –
Learning Outcome 2)
business economics topic chosen from Assignment
the seminar list (see schedule). submission
Must use Harvard Style Referencing deadline is within 7
and in text Citations with good quality days of topic
bibliography and appendixes if needed. presentation.

The written assignment will be an individual essay based on your group presentation in the seminar
of your choice. Your group (3–5 members) will lead the seminar by explaining and analysing your
chosen issue, which should take 30 minutes. Other members of the seminar group will then have the
opportunity to ask you questions and to seek clarification on particular points. You will receive
immediate feedback from your seminar tutor on your presentation and topic approach and feed-
forward to help you prepare your individual essay

You will be assessed on your individual essay (2,500 words +/- 10%) on the issue, which should
reflect your group’s research and the discussion in the seminar as well as your own independent
reading. You can achieve high grades in this assignment only if you have researched your topics
thoroughly and fully applied the relevant theories in a logical analysis of the issue. Suggested
outlines for each topic and additional assessment criteria can be found online in Course Resources
along with detailed marking rubrics for each topic.

Deadline for submission is within 7 days of the group presentation. You will submit the essay online
using the special Turnitin assignment links in Blackboard. Feedback on your submission will be
returned to you within 3 weeks.

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Work Schedule Semester 2– Autumn 2016
Week
Topic Semester 1 - Seminar activities
No.

Questions for Discussion

Introduction to
1 International Case studies
Business
(G&P Ch 1)

The global
marketplace & the Questions for Discussion
2 international
environment (G&P Ch Case studies
2, 3)

The Role of Culture, Questions for Discussion

Politics and Ethics
3
(G&P Ch 4,5) Case studies

International trade Questions for Discussion

4
theory (G&P Ch 6) Case studies

International
investment theory FIRST COMPUTER-BASED TEST will take place during seminar
5
(G&P Ch 6)

To what extent are European entrepreneurs seeking to start new

businesses at a disadvantage compared to their American rivals?
International
6 monetary system You have information in the case study and in the chapter, but do
some research on the web to find out about particular companies
(G&P Ch 7)
& how they have raised finance to start up, expand and / or
takeover other firms

To what extent should a government take action if a country

such as the USA (&/or UK) has a persistent deficit on its current
Foreign exchange
account of the balance of payments?
markets and currency
7
management You have information in the case study (go through the questions)
and in the chapter, but use journal articles & the web to find out
(G&P Ch 8)
about specific sectors of the economy & the impact of large
capital inflows into an economy.

Should a central bank use its currency reserves to support the

International business
8 value of its country’s currency in the foreign-exchange market?
and national trade
What can be achieved by such intervention?
policies
You have information in the case study (do go through the

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Week
Topic Semester 1 - Seminar activities
No.

(G&P Ch 9) questions) and in the chapter, but use journal articles and the web
to find analyses of the currency crises that have affected many
countries such as the UK in 1992, the Mexico in 1994, the Asian
countries in 1997 and the recent financial crisis.

Could a damaging trade war develop between the EU, US and

China?
International co-
operation and trading You have information in the case study about the USA and Asia
9 (do go through the questions) and in the chapter, but use journal
blocs
articles and the web to find out about the tensions between the
(G&P Ch 10) US and the EU such as in the cases of the steel dispute, ‘banana
wars’ & GM foods, or between US and China on tires, EU and
China on shoes etc.

To what extent does regional economic integration affect the

FDI and Foreign entry strategies pursued by international businesses?
10 modes
You have information in the textbook about NAFTA and EU but
(G&P Ch 6, 12) use journal articles and the web to find more about other regions
and research the strategies of different firms.

Evaluate the use of a Greenfield site compared to an Acquisition

International strategic for entering a foreign country.
11 alliances
You have information in the case study and in the chapter. There
(G&P Ch 13) is also a wealth of information in business magazines and journal
articles.

SECOND COMPUTER-BASED TEST will take place during seminar

12 Conclusions / Revision

RESOURCES
Semester 2 – Autumn 2016
Besanko,D., D. Dranove, M. Shanley, S. Schaefer (2009), Economics of Strategy, 5th Edition, John
Wiley & Sons

Bhagwati, J.N. (2005), In Defense of Globalization, Oxford University Press

Dicken, P. (2010), Global Shift: Mapping the Changing Contours of the World Economy, 6th Edition,
Sage Publications Ltd.

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Caves, R.E., J. A. Frankel, R.W. Jones (2006), World Trade and Payments: An Introduction,
International Edition, Pearson Education

Hill, C.W. L. (2010), International Business: Competing in the Global Marketplace, 8th edition
(International edition) McGraw-Hill/Irwin.

Markusen, J.R. (2004), Multinational Firms and the Theory of International Trade, The MIT Press

Piggott, J. and M. Cook (2006), International Business Economics: A European Perspective, 2nd
edition, Palgrave Macmillan

Rivera-Batiz, L.A. and M.A. Oliva (2004), International Trade Theory, Strategies, and Evidence, Oxford
University Press

RELEVANT JOURNALS – via Emerald or EBSCO Business Premier

Administrative Science Quarterly

Brookings Papers on Economic Activity

Harvard Business Review

International Business Review

Journal of General Management

Journal of International Business Studies

Journal of International Economics

Journal of Political Economy

Long Range Planning

Quarterly Journal of Economics

Sloan Management Review

Strategic Management Journal

The Journal of Business Strategy

OTHER RESOURCES
Where applicable videos, business simulations, case studies etc. will be used to enhance and support
the module content.

BBC News Business – http://news.bbc.co.uk/

Financial Times - http://www.ft.com/

The Economist - http://www.economist.com/

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The Wall Street Journal - http://www.wsj.com/

Key article studied in this module – available on the module Blackboard:

1. Bonn, I., (2001), Developing Strategic Thinking as a core competency, Management
Decision, 39/1, 63-70;
2. Greatz, F., (2002), Strategic thinking versus strategic planning: towards
understanding complementaries, Management Decision, 40/5, 456-462;
3. Mintzberg H. (1987), Crafting Strategy, Harvard Business Review, July-August 1987.
4. Mintzberg H. (1994), The Fall and Rise of Strategic Planning, Harvard Business
Review, January-February 1994.
5. Porter M.E. (1987), From competitive advantage to corporate strategy, Harvard
Business Review, May-June 1987.

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