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Global Economy (IMS 5200)

School of Management
University of Texas at Dallas
Professor Tevfik Dalgic
Office: SM 4.416
Phone: (972)-883 2770
Office Hours: Please send an e- mail to fix an appointment.

Course Objectives:

This course aims at preparing students to appreciate the dynamics of

global economy in general and the global business environmental
factors in particular. Ever changing environmental factors shape the
very existence of business organizations; in terms of, strategic
management, decision-making, strategic management, marketing,
human resource management and operational management issues.
This course will cover the main macro-environmental forces, namely;
Political, Economic, Social-cultural and Technological within the context
of a global economy. Students will be exposed to the opportunities and
challenges of globalization with a business objective in mind. This
course also serves as a base for understanding of other related
international management courses; namely, international marketing
management, international human resource management,
multinational firm, management of international organization behavior
and multinational strategic management.

Required text: Hill, Charles, W.L. (2005) International Business:

Competing in the Global Marketplace (Please note: A Primis
Version of this book is prepared for our course which includes
the Group Cases and is cheaper in price)
Publisher: Irwin- McGraw-Hill, 5th.ed.

Additional reading will be provided as the program progresses.

Course Outline:

Chapter 1-Globalization. Overview of the global economy and

international macro-environmental forces (IPEST-International
Political, Economic, Socio-cultural and Technological) factors.
Introductory case of the chapter. Globalization Opportunities and
Challenges. Country Focus and Management Focus readings.
Chapter 2-National Differences in Political Economy, introductory case
of the chapter, legal, political and economic systems, determinants of
economic development, stages in transition, deregulation,
privatization, democratization and integration with the rest of the
world. Impact on business organizations. Country Focus and
Management focus readings

Chapter 3-Differences in Culture, introductory case of the chapter,

what is culture? Social structure, religious and ethical systems,
language and education, culture and the workplace, cultural change,
implications, blunders in international business. Country Focus and
Management Focus.

Chapter 4- International Trade Theories, introductory case of the

chapter, overview of trade theories, implications for business; location,
first-mover advantage, policy. Country Focus and Management Focus.

Chapter 5-The Political Economy of International Trade, introductory

case of the chapter. Instruments of trade policy, the case for
government intervention, the revised case for free trade. Development
of the world trading system, country focus and management focus.
Implication for business; trade barriers and firm strategy.

Chapter-6-Foreign Direct Investment (FDI), introductory case of the

chapter, FDI growth, direction and source. Horizontal FDI, Vertical FDI,
Country focus and management focus, implication for business.

Chapter 7-The Political Economy of FDI. Introductory case of the

chapter, Political ideology and FDI, benefits of FDI to host countries,
the cost of FDI to host countries, benefits and costs of FDI to home
countries, implications for business.

Chapter 8-Opening case-Regional Economic Integration. Introductory

case of the chapter, levels of economic integration, the case for
regional economic integration, the case against regional integration,
regional economic integration in Europe, regional economic integration
in the Americas, Country focus and management focus, implications
for business.
30 Percent-Midterm examination
20 Group Projects
30 Percent-Final Examination
10 Percent-Attendance,
10 Percent-Class participation.