Economics and International Enterprise (5 cr)

Evaluation scale

H-5

Content scheduling

Basic structures in the economy
Economic fluctuations and Economic policy
Competitiveness
Alternatives of Internationalisation
International Transportation and Incoterms
Payment Transactions in Foreign Trade
Foreign Trade Documents

Objective

The student can:
- analyze and interpret the basic phenomena within the economy and the factors affect it
- evaluate the impact of economic fluctuations on business and sales
- recognize the connections between a nation economy and the global economy
- describe the basic principles of international business from the point of view of an internationalizing enterprise
- describe an enterprise’s internationalization opportunities, Incoterms, payment methods and risk
- work together with others in multiprofessional teams

Content

Basic structures in the economy
Economic fluctuations and Economic policy
Competitiveness
Alternatives of Internationalisation
International Transportation and Incoterms
Payment Transactions in Foreign Trade
Foreign Trade Documents

Materials

Roger LeRoy Miller. Understanding Modern Economics, Copyright © 2005 Pearson Education, Inc.
Bade & Parkin. Essential Foundations of Economics, 6th edition, 2013 Pearson Education, Inc

INTERNATIONAL BUSINESS, 2ND EDITION, CAVUSGIL, KNIGHT, AND RIESENBERGER

Teaching methods

The course is highly interactive between the class and the lecturer. Through case studies/presentations, problems, students will have the opportunity to use the concepts, ideas, and strategies presented in class. Problem-solving sessions occur in both individual (primarily) and team (occasionally) settings.

The course is divided into two parts:
The first part will deal with economics aspects of the course.
The second part will deal with the business aspects concerning the international enteprises

Exam schedules

To be announced later

Pedagogic approaches and sustainable development

classroom discussions, case study analysis, and project based learning.

Student workload

The scope of this course is 5 credits (133hrs). The course will be completed by undertaking various assignments and a final examination.

Contact sessions: 30 hours
Readings: ~40-60 hours
Working on the assignments: ~40-60 hours

Evaluation methods and criteria

Evaluation will be based on four assignments, the submission of all cases of international negotiations (as will be assigned) and your final group oral and written presentation. There will be no exam in this course. The student need to put a lot of effort in the assignments as this will form the basis of the student's grade.

The grading system is between 1 - 5 where:
1 = Mediocre, 2 = Satisfactory, 3 = Good, 4 = Very good, 5 = Excellent

Failed (0)

FAILED
• Quantity: The work is not completed and or;
• Quality: The minimum content requirements are not met

Assessment criteria, satisfactory (1-2)

Acceptable, BUT Below Average
- limited understanding of theories, thinking, and communication are hardly acceptable
- Appear to grasp theory but unable to interpret the situation correctly.

Assessment criteria, good (3-4)

Satisfactory/Very Good
- knowledge of theories, thinking, and communication are satisfactory and very good
- Understanding of theory and applicability but work could be stronger
- Demonstrate general understanding of theory and application in real life context

Assessment criteria, excellent (5)

Excellent:
- Mastery of theory and penetrating insights in real-life context;
- Outstanding knowledge in international enterprise and economics , thinking, and communication

Further information

For more information contact:
Dr. Otieno Mbare
Email: Otieno.Mbare@turkuamk.fi
Tel. +358 40 355 0175
Room (??)