JAIPURIA INSTITUTE OF MANAGEMENT, JAIPUR

PGDM TRIMESTER IV; ACADEMIC YEAR 2021-22

Course Code and title ECO 401, International Economics and Business
Credits 3
Term and Year Term IV, AY 2021-22
Course Requirement(s) Regular reading of national and international
current affairs of economic and business relevance
Course Schedule (day and time of class) As per timetable
Classroom # (Location) As per timetable
Course Instructor Dr. Prerna Jain
Course Instructor Email prerna.jain@jaipuria.ac.in
Office location Faculty Block – Room No. 108

1. Course Overview

In the twenty first century, countries are more closely linked through trade in goods and services and
through flows of money and investment in each other’s economies than ever before. Thus, the
progress of a nation’s economy is linked to the performance of economies of its trading partners.
The less developed countries have continued a decades-long trend toward reducing their restrictions
on international commerce and, increasingly, have removed many other regulatory bottlenecks
restricting the flow of goods and services with rest of the world. Further, the World Trade
Organization has provided a new governance structure to limit and resolve trade disputes. World
capital markets have grown increasingly integrated, providing new funding opportunities for
borrowers and making it relatively easy for lenders to diversify their risks internationally.

Further, in the present globalized world there is a little scope for businesses to avoid influence of
internationalization of the economies of different countries. The intensifying global relationships and
increasing interdependence are the key features of present business order. The international
business thus poses additional challenges for managing trade or investments in foreign countries
while offering new opportunities in foreign markets.

In a multilateral international order, it is imperative that changes at international level will quickly
affect the domestic economy and business. For example, continuous fall in international crude oil
prices, devaluation of Chinese Yuan, the effect of pandemic – COVID 19 etc. have implications for
domestic economy and business which requires a lot of fresh adjustment not only for business but
also amounts to policy changes on the part of government. It is important that business students
understand keep abreast with these changes and able to analyze its implications for better decision
making.

2. Course Outcomes (CO)

At the end of the course, the students should be able to:

CO 1: Illustrate the basis, context and major driving elements of international trade and business.
CO 2: Analyze the business implications of changes occurring in international economy and policies.
CO 3: Evaluate the strategic options for international business.

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3. Mapping CO with CGs
CO 1: Illustrate the CO 2: Analyze the CO 3: Evaluate the
basis, context and business implications strategic options for
major driving of changes occurring international
elements of in international business. (Evaluate-
international trade economy and Procedural)
and business. policies. (Analyse
(Understand - -Procedural)
Conceptual)
CG1: Communicate
effectively
CG2: Demonstrate ability
to work in teams to
achieve desired goals

CG3: Apply relevant Introduced Mastered Reinforced

conceptual frameworks
to a given business
situation
CG4: Evaluate different
ethical perspectives
CG5: Awareness of
impact of business
decisions on issues of
social concern

4. Text Book

Global Economics, Robert J. Carbaugh, Cengage Learning, 13 th Edition

Other than this, additional reference material, web resources shall be shared with the students as
mentioned in the outline from time to time. In addition to this, exercise sheets, data set will be
provided as per the requirement of the session as mentioned in the course outline. Students are also
advised to refer different reference books for better and deeper understanding of course.

Reference Books:
1. International Business, Rakesh Mohan Joshi, Oxford Pub.
2. International Business – Competing in the Global Marketplace, Charles W. L. Hill and Arun K.
Jain, Tata McGraw Hill.
3. Strategies for the future: Understanding International Business, Ajit N. Mathur, IIM-
Ahmedabad Pub.
4. International Economics: Theory and Practice, Paul R. Krugman, Pearson Pub.
5. Internet Resources (as advised by the faculty during classroom sessions).

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5. Assessment Tasks

Assessment Task Description Weightag CO

e
1. Quiz LMS 20% CO 1 - 10%
CO 2 - 10%
2. Discussion forum LMS (Written) 20% CO 3 - 20%
3. Case Analysis Individual 20% CO 1 - 10%
CO 3 - 10%
4. End Term Hall Examination Hall Exam 40% CO 1 - 10%
Week 12 CO 2 - 30%
Assessment criteria set out the details by which performance in each task will be judged. This
information will give a clear and explicit understanding of the expected standards to be achieved
relative to the marks awarded.

Assessment Task 1: Quiz (20%)

1) Assessment Details: Scenario based Questions to check the conceptual clarity and
application of the concepts. There will be two Quizzes, around eighth and eighteenth session
respectively. The quiz will be on LMS system
2) Task Assessor: Internal Faculty
3) Suggested time to devote to this task: Concurrent

Assessment Task 2: Discussion forum (20%)

1) Assessment details:
Discussion forum on relevant topic shall be floated by facilitator and students will have to
post their opinions within stipulated time. Non-participation in discussion forum will invite
zero marks. Discussion forum will be evaluated for 20 marks (CLO 3) and will constitute 20%
weightage in total marks.
2) Task Assessor: Course Instructor
3) Submission details: online
4) Feedback and return of work: One week

Assessment Task 3: Viva Voce (20%)

1) Assessment details:
Viva voce will be an individual task. It will be administered online through video
conferencing. 10 marks will relate to CO1 and 10 marks to CO3.

Assessment Task 4: End Term (40%)

1) Assessment Details:
Questions based on the course content will be posed to the students to give adequate
responses with suitable illustrations and examples.
2) Task Assessor: Internal faculty and External Examiner question paper setter
3) Suggested time to devote to this task: End of term
4) Submission details: Hall Examination
5) Feedback and return of work: Answer scripts will be shown but will not be returned.

6. Session Plan

Session Topic/Sub Topic Reading Pedagogy Session Learning Outcomes CLO

Reference

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Module I: International Economy and Globalization
1. Introduction to - Class Discussion At the end of the session, 1
international economy the student will be able to
and business; appreciate the significance
Course Overview
of International Business
Evaluation and
Expectations. Environment.

2. Globalization and Video At the end of the session, 1

international business: Text Book (Globalization the student will be able to
A historical Chapter 1 and its effects), explain and measure the
perspective, Concept Class discussion,
extent of globalization.
of globalization,
Factors influencing
globalization,
Globalisation in Post
COVID world.
3. Measuring Joshi Class discussion At the end of the session, 1
globalization, Chapter 1 and News the student will be able to
Response strategies to Analysis respond to globalization
globalization forces for
forces by designing
emerging market
companies. appropriate strategies.

4. India’s position in Handout Class discussion At the end of the session, 1

WTO: Classic Stand in and News the student will be able to
Agricuture. Analysis understand the significance
of India’s position in WTO.
5. International cultural Hill & Jain Case Discussion At the end of the session, 1
environment. Chapter 3 the student will be able to
understand the significance
Case Study: of cultural differences,
Handout develop sensitiveness to
Cross-cultural cultural environment.
Misapprehensions
over the Swastika in
the West

Case Study: Barbie

Faces Islamic Dolls

Module II: International Trade: Basis and Barriers

6-7. Comparative Text Book Class discussion, At the end of the session, 1
advantage as basis of Chapter 2 worksheet the student will be able to
international trade and and 3 Understanding the
various sources of underlying reasons and
comparative identifying the benefits of
advantage. International Trade.

8. Gains from trade and Handout Class discussion, At the end of the session, 2
Terms of trade. worksheet the student will be able to
understand the magnitude

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 of favourable/unfavorable
terms of trade.
9. Government Text Book Class discussion, At the end of the session, 2
intervention i.e. Tariff Chapter 4 Exercise the student will be able to
and non-tariff barriers and 5 understand the implications
to trade.
of trade barriers.
10. Review and exercises - Text Book Exercise At the end of the session, 2
I Chapter 2, the student will be able to
3, 4 and 5 apply the concepts and
(Based on session 6-9)
tools learnt in session 6-9.
Module III: Balance of payments and Foreign exchange market
11. The Balance of Text Book Class discussion At the end of the session, 2
Payments structure Chapter 10 and exercise the student will be able to
explain the implications of
adverse/favorable balance
of payments of India.
12. Exchange Rate Text Book Class discussion At the end of the session, 2
Determination Chapter 12 and graphical the student will be able to
analysis explain determinants of
exchange rate between INR
and other key currencies.
13. Exchange Rate Text Book Class discussion At the end of the session, 2
Systems Chapter 12 the student will be able to
understand the various
exchange rate systems.
14. Foreign Exchange: Text Book Class discussion At the end of the session, 2
Foreign Exchange Chapter 11 and exercise the student will be able to
Market, Types of get an insight about the
Foreign-Exchange Forex market.
Transactions
15. Arbitrage, Hedging and Text Book Class discussion, At the end of the session, 2
Speculation Chapter 11 exercises the student will be able to
understand the implications
of trading in Forex market.
16. Review and exercise – Text Book At the end of the session, 2
II Chapter 10, the student will be able to
11 and 12 apply the concepts and
(based on session 11- tools learnt in session 11-
15) 15.

Module IV : Global expansion strategies and major issues

17. International Business Joshi, Class discussion At the end of the session, 3
Expansion Modes Chapter 11 the student will be able to
understand the various
expansion modes.
18. Strategy for Selecting Joshi, Class discussion At the end of the session, 3
International Business Chapter 11 and News the student will be able to
Expansion Mode Analysis choose an appropriate entry
strategy.
19. Case Study: Handout Case discussion At the end of the session, 3

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 Diebold entry the student will be able to
strategies understand the choice of
entry strategy for
international expansion.
20. Impact of COVID-19 Handout Class discussion At the end of the session, 3
pandemic on and News the student will be able to
international business Analysis analyse the impact of global
pandemic on international
business.

7. Student Responsibility

It is the responsibility of every student to be aware of the requirements for this course, and
understand the specific details included in this document.

It is emphasized that this course requires a significant commitment outside of formal class contact.
The learning tasks in this course may include classes (lectures or seminars), required reading, the
preparation of answers to set questions, exercises and problems, and self-study. In addition,
students may be required to complete an assignment, test or examination.

It is advisable that student maintains a separate Note Book for this course which can be used for
keeping class notes, library notes, and notes of other readings. It is important to develop the habit of
writing notes of classroom discussions and any readings that the students come across.

8. Time budgeting in course planning:

The table below is an example of the suggested time allocations for this course.

2-3 hours per week for 12

Classes 30 hours
weeks
Prescribed readings and
Reading 30 hours
making notes
Including shared and group
Preparation of set questions, exercises and problems 15 hours
exercises
Preparation of assignment Reading and writing 15 hours
Study and revision for test and end of Trimester
Self-preparations 15 hours
examination
TOTAL 105 hours

9. Rubrics for Assessment Tasks:

The rubrics for discussion forum is given below: (CO 3 – 20 marks)

Traits Below Expectations Meets Expectations Exceeds Expectation

(0-4 marks) (5-7 marks) (8-10 marks)
Conceptual clarity Not able to explain points Explains points clearly; Explains points explicitly
and logical clearly. Lacks focus and points relate to overall with specific explanatory
presentation of points put forth do not argument. Presents detail backed up with
ideas (10 marks) relate to the overall/main information in a logical relevant
argument or idea. Presents sequence. The final point research/information/exam
information in a cluttered is quite clearly brought ples; points relate and

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 manner with no logical
sequencing or progression
of ideas. The main point is
obscured. Poor command
over subject matter.
Provides irrelevant and
inadequate information to
support arguments.
out. Good command
over subject matter. Is
able substantiate the
arguments with relevant
and adequate
information reasonably
well.
support the overall
argument. Presents
information in a clear and
logical order supported by
relevant illustrations and
examples. The final
point/conclusion is well
supported through a well-
structured set of arguments.
Excellent command over
subject matter. Covers every
dimension of the subject
matter and uses relevant
and comprehensive
information to back up the
arguments.

The rubrics for Case Analysis is given below: (CO 1 and CO 3 – 10 marks each)

Traits Performance level Score

Poor Average Good
(0.00-7.99 marks) (8.00-13.99 marks) (14.00-20.00 marks)
Student is able Student is able to Student is able to
Ability to Illustrate the to analyze very analyze some of the analyze all major of
basis, context and few/none of the context and driving the context and
major driving elements context and elements of driving elements of
of international trade driving elements international international
and business. of international business business
(Weightage: 50%) business
Ability to evaluate the Student is able to Student is able to Student is able to
strategic options for correctly evaluate correctly evaluate correctly examine all
international business. very few/none of some of the strategic the strategic options
(Weightage: 50%) the strategic options for for international
options for international business
international business
business

The rubrics for End term exam is given below: (For a question answered out of 10 marks)

Traits Below Expectations Meets Expectations Exceeds Expectation

(0-4 marks)
Conceptual clarity Not able to explain points
and logical clearly. Lacks focus and
presentation of points put forth do not
ideas (10 Marks) relate to the overall/main
argument or idea. Presents
information in a cluttered
manner with no logical
sequencing or progression
of ideas. The main point is
obscured. Poor command
over subject matter.
Provides irrelevant and
inadequate information to
support arguments.
(5-7 marks)
Explains points clearly;
points relate to overall
argument. Presents
information in a logical
sequence. The final point
is quite clearly brought
out. Good command
over subject matter. Is
able substantiate the
arguments with relevant
and adequate
information reasonably
well.
(8-10 marks)
Explains points explicitly
with specific explanatory
detail backed up with
relevant
research/information/exam
ples; points relate and
support the overall
argument. Presents
information in a clear and
logical order supported by
relevant illustrations and
examples. The final
point/conclusion is well
supported through a well-

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 structured set of arguments.
Excellent command over
subject matter. Covers every
dimension of the subject
matter and uses relevant
and comprehensive
information to back up the
arguments.

10. Institute’s Policy Statements

It is the responsibility of every student to be aware of the requirements for this course, and
understand the specific details included in this document. It is emphasized that this course requires a
significant commitment outside of formal class contact.  The learning tasks in this course may include
classes (lectures or seminars), required reading, the preparation of answers to set questions,
exercises and problems, and self-study. In addition, students may be required to complete an
assignment, test or examination.

11. LMS-Moodle/Impartus:

LMS-Moodle/Impartus is used to host course resources for all courses. Students can download
lecture, additional reading materials, and tutorial notes to support class participation.

12. Late Submission

Assessment tasks submitted after the due date, without prior approval/arrangement, will be not be
accepted. Requests for extension of time must be made with the faculty member concerned and
based on Special Consideration guidelines. 

13. Plagiarism:

Plagiarism is looked at as the presentation of the expressed thought or work of another person as
though it is one's own without properly acknowledging that person.

 Cases of plagiarism will be dealt with according to Plagiarism Policy of the institute. It is advisable
that students should read Student Handbook for detailed guidelines. It is also advisable that students
must not allow other students to copy their work and must take care to safeguard against this
happening. In cases of copying, normally all students involved will be penalized equally; an exception
will be if the student can demonstrate the work is their own and they took reasonable care to
safeguard against copying.

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