ECONOMICS OF INTERNATIONAL BUSINESS COMPETITION - 2017/8
Module code: ECO3040
TEMPLE PA Dr (Economics)
Number of Credits
FHEQ Level 6
Module cap (Maximum number of students)
Overall student workload
Independent Study Hours: 128
Lecture Hours: 20
|Assessment type||Unit of assessment||Weighting|
|School-timetabled exam/test||CLASS TEST - 75 MINUTES - MULTIPLE CHOICE AND SHORT ANSWER QUESTIONS||30%|
|Examination||EXAM - 2 HOURS - SHORT ANSWERS AND ESSAY QUESTIONS||70%|
Prerequisites / Co-requisites
The module provides a central component of a business economics programme by using the techniques of economic analysis to consider the nature of business and competition in the modern global economy
familiarise students with analytical concepts and models which assist in the understanding of the global competitive environment.
|Discuss the causes and consequences of international specialization||KC|
|Analyse specialization based upon both comparative advantage and competitive advantage||KC|
|Analyse the nature and consequences of product market competition and innovation in the modern global economy||KC|
|Display knowledge of the role of international firms and the causes and consequences of foreign direct investment||KC|
|Discuss the role of clusters and networks in promoting innovation||KC|
|Analyse the role of institutions and policies in promoting international business competitiveness||KC|
C - Cognitive/analytical
K - Subject knowledge
T - Transferable skills
P - Professional/Practical skills
Indicative content includes:
Models of international comparative advantage: technology and endowments of factors of production as sources of comparative advantage; the implications of trade for economies. Technology and its international diffusion. Learning by doing and dynamic comparative advantage; infant industries and the case for protection.
Models of product market competition in the global economy: price versus non-price competitiveness; horizontal and vertical product differentiation and innovation; increasing returns and the role of market size: monopolistic competition and intra-industry trade; the pro-competitive impact of trade; strategic trade.
Sources and implications of competitive advantage: location, clustering, networks, and innovation. Multi-national activity.
Economic analysis of institutions and policies in the global economy. Varieties of capitalism in the modern global economy and the concept of institutional complementarities; varieties of corporate governance and economic performance; national differences in science, technology and innovation policy.
Methods of Teaching / Learning
The learning and teaching strategy is designed to:
provide students with a broad understanding of how a variety of techniques of economic analysis can be applied to understand the nature and implications of business competition in a globalising economy.
The learning and teaching methods include:
2 hour lecture (including test) with numerous opportunities for feedback and informal discussion per week x 11 week
The assessment strategy is designed to provide students with the opportunity to demonstrate understanding of the major ways in which businesses (and nations) compete in a variety of ways, including both technical and comparative analysis.
Thus the summative assessment for this module consists of two units of assessment
An in class test (1 hour and 15 minutes) worth 30% of the module mark will be taken in week 7. It will combine two forms of assessment: a multiple choice component will require understanding of the fundamental concepts underpinning economists’ analysis of international trade and specialization, while a short answer component (2 questions) will require a breadth of engagement with material covered in the first 5-6 weeks of the module and will provide useful feedback in preparation for the examination.
An examination (2 hours) requiring 3 short answers from 5 drawn from a larger pool of seen questions (50% of the exam mark) and an essay (50% of the exam mark) which is selected from seen topics released prior to the examination.
Formative assessment and feedback
All lectures encourage discussion - permitting formative feedback while warm-up questions form part of the lecture. General feedback is given after the test, while individual annotated feedback is provided from the short answer component. Office hours provide further opportunities for individual feedback.
Reading list for ECONOMICS OF INTERNATIONAL BUSINESS COMPETITION : http://aspire.surrey.ac.uk/modules/eco3040
Please note that the information detailed within this record is accurate at the time of publishing and may be subject to change. This record contains information for the most up to date version of the programme / module for the 2017/8 academic year.