Module
Applied International Economics

Type
Core GBM module (30 hours)

ECTS
5

UoW credits
10

Coordinator
Marcin Duszynski, BA, MSc

Overall Aims and Purpose
The course builds on knowledge gained in introductory International Economics, and expands on topics crucial to the understanding of the global economic system in the 21st century. With Globalisation and international/transnational organisations encroaching the power base of nation states, new ways of business activity and organisation have been emerging and bringing forth a need to deal effectively with the challenges to achieve economic supremacy for states, regions, companies, industries.
Students are exposed to the rationality behind current globalisation processes and the emerging new world order based on the dominance of the Capitalist free-market paradigm.
The course presents issues related to trade in the 21st century and its ever-changing environment, the strengths and weaknesses of nations, industries, sectors and clusters.

Course Content

1. Development of the global economy
- 15th-18th century
- Leading up to WWI
- WWI-WWII
- Post-WWII
2. Globalisation
- Prior waves of globalisation and global hegemony??
- Financial
- Economic
- Political
3. Global shift
- Nation states and power
- Technology as driver of change
- TNC’s and networks
- Conflict and collaboration: TNC’s and states
4. New trade theories
- Trade restriction
- Alternatives to free trade
5. Competitive Advantage of Nations
- Determinants of national competitive advantage
- Dynamics of National Advantage
- Patterns of national competitive advantage
6. Competitive Advantage of Industries
- Structural analysis of industries
- Generic competitive strategies
- Competitive moves
7. Economic Integration
- EU and the process of never-ending widening??
- NAFTA, a dominant economy widening its borders??
- ASEAN, the struggle for Pacific-Rim supremacy??
8. Trade in the 21st century
- New Economic order
- Japan/Asia
- USA/NAFTA
- Europe/EU

Reading list

Essential
Dicken, P., 1998, “Global Shift”, 3rd ed, PCP
Salvatore, D., 2004, "International Economics", 8th ed. Prentice Hall

Suggested
Held, D., & McGrew, A., (eds), 1999, „Global Transformations”, Polity Press
Kennedy, P., 1989, “The Rise and Fall of the Great Powers”, First Vintage Books. New York.
Porter, M. E., 1998, “Competitive Advantage”, Free Press
Porter, M. E., 1998, “Competitive Advantage of Nations”, Free Press
Porter, M. E., 2003, “Competitive Strategy”, Simon&Schuster.
Thurow, L., 1993, “Head to head”, Warner Books.