Standardized Outline for Courses

Part A: Basic Details

Name of Course International Business Economics

Course Instructor(s)
Arundhati Sarkar Bose (arundhatisb@xlri.ac.in)
(please provide email id)
Academic Associate(s)
NA
(please provide email id)

Area Economics

Program BM , HRM

Term IV

Type of Course
Elective
(Core/Elective/Workshop)

Number of Credits 3

Number of Classroom Contact

30
Hours
Course Pre-requisites (if any,
including cut-off grades in Managerial Economics, Macro economic Theory and Policy
specific core courses)
No text book, only compiled material
Course Textbook

Course Handout to be Provided

yes
(Yes/No)
No. of Sessions to be taken by
nil
Guest Faculty
Name of Guest Faculty (if
NA
identified)

Part B: About the Course

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 Standardized Outline for Courses

Course Description International trade theory and policy, currency

Course Learning Objectives
Who is the course suitable for? (for electives
only)
market and open economy macro economics
This course looks into the ECONOMIC aspects
international business. The market outcomes of
liberalising trade environment, trade policy
framework of the WTO, economics of the
currency market and macroeconomic linkages
of the open economy are the primary points of
emphasis of the course.
Those who are interested in economics of
international pricing, trade policy, currency
markets and international macroeconomic
linkages

Part C: AOL - Learning Goals Mapping at the Course Level*

AOL Learning Goal (PLO) Relevance for Course (put a tick)

Decision Making

Quest for Excellence √

Sustainability

Global Mindset √

Please indicate the rationale for choosing the
specific learning goal(s) for this course
Response: The course teaches the arguments
forwarded by trade theories, implications of
trade policies across the globe. In the second
half, the course teaches how currency markets
function and global macroeconomic linkages.
So Global Mindset is what it is all about. The
course gives an opportunity to understand
policy environment for business across the
globe. Students can go to different levels of
depth according to their Quest for Excellence
and get rewarded for their level of
understanding.

*Description appended at the end of the document

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 Standardized Outline for Courses

Session Plan*

Chapters from Course Textbook Pedagogy (Case Studies/in-class

Session and Reading Material other than exercise/questionnaire/presentations)
Session Topic Course Learning Objectives
No(s) Case Studies

Session 1 Internationalisation of Introduction to the subject Chapter from reading material: Presentation and exercise
business – meaning,  Trade in Global Economy
dimensions Basic Theory using Demand and
Supply
Session 2 Ricardo and Comparative Pricing and trade patterns  Trade and Technology – The Presentation and exercise
and 3 advantage with international Ricardian Model
differences in labour
productivities
Session 4 Heckscher Ohlin model of Pricing and trade patterns Trade and Resources– The Presentation and exercise
factor abundance with international Heckscher-Ohlin Model
differences in factor
abundance
Session 5 Krugman’s model of Intra- Pricing and trade patterns  Economies of Scale, Imperfect Presentation and exercise
Industry Trade under non-competitive Competition and International
markets trade”
Gains from trade when firms
matter[page 97-104]
Session 6, 1. Tariffs in competitive Implication of import tariffs  Tariffs Presentation and exercise
7 and 8 markets and quotas on pricing and  Trade Regulations and
2. WTO tariff structure industry outcome Industrial policies – for
and problem solving information on the WTO
based on WTO tariff system – [page – 185-188,
structure 191, 196-198]
3. Quota, Tariff and  “Non-Tariff Barriers” – [up to
quota in monopolistic page 150]
markets,
Session 9 Voluntary Export restraints Implication of VERs on  Export Quotas and Subsidies – Presentation and exercise

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Session 10 1. Dumping and
and 11 Antidumping Duty
under the WTO
2. Subsidies and
Countervailing duties
under the WTO,
regional integration
3. Problem solving
Session 12 Currency market and basic
Central Bank operation,
Product market approach to
determination of exchange
rate
Session 13 Asset market approach to
determination of exchange
rate
Brexit and currency market
experience of the Pound
Standardized Outline for Courses
pricing and industry
outcome
Experience of OPEC
Implication of dumping and
antidumping duties on
pricing and industry
outcome
Implication of export
subsidies on pricing and
industry outcome
Agricultural subsidies
India’s experience with
agricultural support
measures
Operation in the spot
market, determination of
exchange rate through
export and import, import
dependence and currency
market volatility
Connection between
International asset market,
interest rates and exchange
rates, expectation and
currency market volatility
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[ page – 184 – 187]
 Trade Regulations and
Industrial policies – for
information on the WTO
system – [page – 185-188,
191, 196-198]
 Non Tariff Barriers – [page Presentation and exercise
160-169]
 Trade Regulations and
Industrial policies – for
information on the WTO
system – [page – 200-205]
 Article uploaded on AIS as
‘session 12 reading material’–
“International Predation and
Anti-Dumping” by Prabhash
Ranjan
 Export Subsidies and quotas –
page 188- 195
 Introduction to Exchange Presentation and exercise
Rates and the Foreign
Exchange Market
 Introduction to Exchange Presentation and exercise
Rates and the Foreign
Exchange Market- page 43 -
58
 News articles

Sterling
Session 14 Currency futures and options
and Problem solving on
currency market
Session 15 Monetary approach and asset
market approach to predict
future exchange rate
Session 16 Basics of fixed and flexible
and 17 exchange rate, export import
and currency market
Open economy
macroeconomics
Session 18 3 International Financial Crises
and 19 models - Understanding the
recent few crises, The Euro
Crisis/ crisis in Venezuela,
Turkey, Economic risk
indicators for FDI and FII
Covid 19 and its implication
for global trade and
international finance
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How currency future and
options market work. Some
exercises.
Economics of exchange
rate forecasting
International
macroeconomic linkages
Understanding financial
crisis and economic risk
indicators
Understanding the new
global order for business
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 Currency Derivatives Presentation and exercise
 Exchange rate I – The Presentation and exercise
Monetary Approach in the
Long Run- page 63 - 95 up to
real interest parity
 Exchange rate II – The Asset
Approach in the Short Run-
page 111- 139 up to exchange
rate overshooting
 Slides and class notes Presentation and exercises
 Module 4 – chapter 1
-Mundell Fleming Model
 News articles
 Module 4 – chapter 2 Presentation
 News Articles
 News item videos
 Not yet decided
 Standardized Outline for Courses

Session 20 Students’ Term Paper To make students aware of

Presentation issues not taught in class.

Note: - The course instructor may modify the sequence of topics or coverage based on initial experience and the mid-course review.

For Attendance Norms please refer to section 10 of the Student’s Manual.

For Evaluation and Grading Norms refer to sections 20, 21 and 22 of the Student’s Manual.

For Disciplinary Action refer to sections 26 and 27 of the Student’s Manual.

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 Standardized Outline for Courses

Details of Evaluation Components

Evaluation Module Yes/No Weightage for the PLO sub-dimension measured Average Number of Hours of Work
Evaluation Component1 Outside Classroom2
Mid-Term

End-Term Yes 1 30% 20

Quizzes Yes 2 25% + 25% 35

Assignments

Class Participation

Presentation Yes 1 20% 15

Note for Faculty (To be removed before uploading as this is not a part of the course outline format):
1
As per the policies of the institute, the maximum weightage for any evaluation module shall not exceed 40%. Further, the end-term shall have a minimum
weightage of 30%.
2
As per the policies of the institute, the total contact hours per course for a student is in the ratio 30:70 (classroom contact hours: outside of classroom
contact hours). You are requested to ensure that your course evaluation retains the same proportion.
3
Please upload the course outline on the AIS one week prior to the beginning of the course. A copy of the same has to be sent to the Dean’s Office for
record maintenance.

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Appendix 1: Detailed Description of PLO
PLO: Decision Making Rubric
Definition: Ability to generate alternative solutions to a problem and take an integrated approach to purposefully narrow down to an optimum solution
Dimension Beginner
Visualization of Unable to visualize key attribute
problem (s) of the business problem.
Unable to comprehend what
information might be required to
analyse the business problem
under review.
Analysis of the Not sure as to what analytical
information tool might prove to be a useful
device in relation to the case
under consideration.
Fails to view the various
dimensions of the case through
multiple lenses
Narrowing on the Fails to adopt an integrated
solution approach while generating
solutions to the business
problem.
Is unable to distinguish among
fact, opinion and value
judgments.
Fails to arrive at a concrete
decision
Standardized Outline for Courses
Minimally Competent
Visualizes the primary aspect of
the business problem with the
aid of available information but
fails to assess what additional
information might be required
for conducting the analysis.
Misses on related intricacies.
Can identify appropriate
analytical tool needed to analyse
the extracted information but
fails to analyse the extracted
information through multiple
lenses
Attempts to arrive at a solution
and tries to present the
arguments without addressing all
key considerations adopting an
integrated approach.
The decision arrived at ignores a
few key attributes.
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Competent
Visualizes various attributes of
the problem and extracts other
additional information which
might be handy in analysing
the problem
Identifies appropriate
analytical tool and executes
such critical analysis in a
satisfactory manner after
viewing the business problem
through multiple lenses of
same paradigm.
Generates alternative solutions
to the problem adopting an
integrated approach.
Subsequently, narrowing down
to the set of optimum
management decisions.
Highly Competent
Visualizes latent attributes (viz.,
attributes that are not necessarily
evident) of the business problem and
able to connect the seemingly
unrelated facts to get a holistic view
of the problem situation.
Identifies appropriate analytical tool,
executes critical analysis in a
satisfactory manner and able to
adapt analytical tools from other
disciplines by questioning the implicit
assumptions made in the beginning.
Recognizes the definite or authentic
optimal solution by identifying and
rejecting the seemingly viable but
non-optimal solutions.

PLO: Quest for Excellence
Definition: Ability to constantly raise the bar in pursuit of higher standards
Dimension Beginner
Standards of Satisfied with the way things
performance are.
Focus is only on submissions.
Needs to be pushed.
Attends classes irregularly.
Inattentive in class with low
attention span. Does not
participate in class
discussions.
Continuous Makes little effort to update
learning oneself /learn.
Performance displays
downward slopes
Sharing of Does not share knowledge
information and with others.
knowledge Self centered in terms of his
learning and performance.
Aggressively dissuades
other’s participation in class.
Standardized Outline for Courses
Minimally Competent
Makes average demand on
oneself. Does not go beyond the
minimum requirement.
Attends classes but does not get
involved.
Participates in discussions but
does not start the discussions.
Takes interest only in familiar
areas.
Does put in an extra effort to gain
knowledge /skills/know-how.
Makes some effort to learn
Stays at the minimum acceptable
level
Neither dissuades nor encourages
the group.
Does not engage in negative
behaviour nor in supportive
behaviour.
Individualistic. Shares his/her
knowledge, information with
others only when asked.
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Competent
Makes a strong demand on oneself.
Sets high standards of performance
and ensures high standards of
work.
Always prepared and is involved in
the class.
Initiates discussions in class. Asks
questions to improve
understanding.
Keen to learn and update,
continuously improves with faculty
guidance.
Eager to learn from mistakes
Performance curve displays upward
slope but not consistently upward.
Coordinates work for the team.
Puts in effort to bring the group
together.
Guides and helps others in their
efforts to learn.
Highly Competent
Makes continuous effort to raise
the demand on one self realistically.
Brings newer dimensions (e.g.
illustrations, facts,) to the class,
which directs and enhances the
discussion for greater
understanding.
Brings/reads additional
inputs/relevant readings going
beyond the mandatory reading
material.
Self-driven and improves
performance of oneself without
faculty guidance.
Keeps self-updated.
Performance curve displays sharp
upward slope that rises
consistently.
Leads and directs the team
Proactively shares information and
knowledge;
Motivates others to do the same.
 Standardized Outline for Courses

PLO: Sustainability Rubric (Earlier Stakeholder Sensitivity)

Definition: Ability to understand and appreciate Sustainable Development (in different contexts) and develop strategic responses for tangible value creation for all
stakeholders while ensuring inter & intragenerational equity

Dimension Beginner Minimally Competent Competent Highly Competent

Understand Sustainable
Development in different contexts
(society, governments, firm, industry,
business)
Fails to remember key
definitions, /concepts
related to sustainable
development
Remembers and Able to analyse and evaluate Able to design or create
understands key the role of managers in integrated approaches to
definitions/ concepts and is fostering sustainable sustainable development and
able to apply in decision development and corporate corporate sustainability
making context sustainability

Stakeholder Analysis that includes Limited ability to identify Able to identify Able to analyse business Able to create win-win
recognition of relevant stakeholders, relevant stakeholders stakeholder issues and -sustainability interface* outcomes for all stakeholders by
identification of their issues, and and/or their issues partially address their through stakeholder analysis developing comprehensive
analysis and response concerns strategic responses

Systems approach for Corporate Does not remember key Remembers, understands Able to analyse and evaluate Able to create or develop
Sustainability (Creating synergies corporate sustainability and is able to apply key results from application of key strategic responses through
across functional domains) tools and framework corporate sustainability sustainability tools and systems thinking after doing the
tools and frameworks frameworks analysis and evaluation

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PLO: Global Mindset
Definition: Ability to analyse business problems from a global perspective
Dimension Beginner
Identifying Unaware of global economic, political,
Global legal and cultural issues.
opportunity
Diversity and Realizes the importance of multi-
multi-cultural cultural perspective and diversity but
perspectives fails to develop ways and means to
integrate into planning. Appreciates
the idea to have multiple perspectives
but does so only superficially without
making any deliberate attempt to do
so.
Global Fails to identify data or information
structural plans necessary to develop global viewpoint.
Not able to conceptualize a global
structural plan.
Global-Local Fails to conceive interaction effects
interplay between Global & Local Strategy and
operations Does not distinguish
between Global and local business
setting, business strategy &
Operations.
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Minimally Competent
Identifies Global opportunity, though
some aspects are incorrect or confused.
Gives some value to Multi-cultural
perspectives and appreciates
importance of diversity but fails to see
it as a source of opportunity. Ready to
accept multiple perspectives but does
so by only integrating few concepts and
ideas not very different from his/her
own
Identifies Global structural Plans by
using most data or information
necessary to problem.
Partially differentiates between Global
& Local business settings, business
strategy and operations. And is able to
visualize some interaction effects but
superficially.
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Competent
Clearly identifies global
opportunity through
subsidiary, embedded, or
implicit aspects of the issue.
Gives high Value to Multi-
Cultural perspective and see
diversity as source of
opportunity.
Clearly establishes Global
structural Plans by using
data or information
necessary to problem
Clearly understand the
differences and consider the
Global –Local interaction
effects between the two.
Highly Competent
Identifies integral relationships
essential to look at the bigger picture
as an integrated whole.
Constantly challenges own
experiences and assumptions and
integrates multiple perspectives to
look at the bigger picture. Uses
multicultural dimensions to arrive at
decisions concerning organisations
Able to integrate insights from global
data to enable decision making.
Presents argument for choosing a
particular approach for strategic and
operational decisions