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FUBiS Term II: Economic and Financial Environment of Global Business
(course # 2.02)
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Type: |
A-Track |
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Instructor(s): |
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Language: |
English |
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Contact hours: |
72 (6 per day) |
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Credit Points: |
6 |
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Capacity: |
18 |
Resources
Course description
In this course we discuss economic and cultural topics in the context of open, global economies. It combines both theoretical and practical approaches, emphasizing generally accepted concepts as well as the current global situation and future developments. Our regional emphasis is on Berlin as a major force in Germany, Germany as a major force in Europe, and Europe as a major force in the global economy. Integrating these emphases with global reality, we also discuss other regions. Economics, like the hard sciences, differs very little internationally; cultures, however, do differ and of course interact with economic behavior. Therefore, although the focus of this course is economics, special emphasis will be placed on cultural differences and how they interact with economic similarities.
The aim of the course is to enable students to learn to think as economists, i.e. to see beyond the obvious to underlying and at times counterintuitive insights, to distinguish between economic explanations that are too easy and those that are simple but workable, to identify assumptions behind various conclusions, and to spot fallacies. Furthermore, students learn the basics of intermediate macroeconomics and monetary theory as well as how to use simple models to analyze complex economic problems, such as those challenging the world today. Macroeconomic topics include gross domestic product (GDP), consumption, saving, government budgets & tax policies, and investment. Financial economic topics include money and banking, interest, exchange, and inflation rates.
At the beginning of each class is a lecture on the week’s topics, followed by students’ presentations. The course includes presentations from guest speakers and excursions to several relevant institutions in Berlin. The instructor has been teaching variations of this course for many years, but with primary emphasis on the US economy and its Pacific neighbors in Asia. In this course we switch to a Germany/Europe focus with, for example, the European Central Bank, rather than the Federal Reserve System, at the center of the financial sector.
Student profile
Students coming into this class should be seeking an understanding of at least two general areas of knowledge: first, how our global economy works when it is working more or less properly; second, why and how did it get into its current difficulties.
Students from a variety of subject matters including, of course, economics & business and social sciences, but also any discipline are welcome, but be sure to bring an open and analytical mind.
Prerequisites
Students should have some prior knowledge of basic economics. The course is ideal for students who already have some prior knowledge of basic economics. However every student who is curious about the economy he/she lives in, and is willing to work to understand it, is welcome to the course.
Course Requirements
- Attendance and active participation in class meetings. This includes field trips.
- Use of Internet and newspaper sources of relevant information.
- Several short essays and presentations concerning important current economic events.
- A more lengthy essay & presentation leading into the student’s leadership of discussion.
Grading
- Attendance & active participation 20%
- Short essays & presentations (20% each) 60%
- Longer essay, presentation, and class discussion leadership 20%.
Reading
Course Reader to be provided.
