Focuses on the risks and opportunities of conducting business in the global economy. Examines the cultural, country, currency, and commercial risks associated with international trade. Also discusses international theory; ethics; political, economic, and legal systems; government intervention; currency fluctuations; foreign market assessment; and market strategies in the global marketplace.
Goals, Topics, and Objectives
- International Business and Globalization of Markets
a. Define international business and the globalization of markets.
- Drivers, Dimensions, and Consequences of Globalization
a. Identify and analyze the causes and effects of globalization with respect to society and the firm.
- International Trade Theory
a. Analyze various classical and contemporary international trade theories.
- Advanced, Developing, and Emerging Economics
a. Compare and contrast advanced, developing, and emerging markets (e.g., population, GDP, political, legal, and economic systems).
- National Cultures and Subcultures
a. Explain the cross-cultural risks in international business.
- Ethics in International Business
a. Describe and evaluate different cultural and ethical approaches to international business decisions.
- National Differences in Political, Economic, and Legal Systems
a. Compare and contrast diverse political, economic, and legal systems.
- Trade Protectionism
a. Discuss the implications of trade protectionism and government intervention in international trade.
- Regional Economic Integration
a. Apparaise the implications of national regional economic integration.
- Currency Risk and International Business
a. Explain exchange rate risk.
b. Discuss global monetary systems. - Participants in International Business
a. Define the participants in international trade (i.e., focal firms, intermediaries, and facilitators).
b. Discuss the challenges faced by these participants in the global market. - Strategies and Organizational Structures of International Business Firms
a. Discuss organizational structures of international business firms.
b. Evaluate management strategies. - Foreign Market Assessment and Market Strategies
a. Compare and contrast foreign market entry strategies.
b. Assess global market opportunities. - Exporting, Importing, and Countertrading
a. Describe the opportunities for and risks associated with exporting, importing, and countertrading.
- Global Production, Outsourcing, and Logistics
a. Discuss global manufacturing, offshoring/outsourcing, logistics, supply chain management, and compliance with national and international quality standards.
The International Business program was deactivated in 2021. No students have been in this program since the summer of 2020.
Assessment and Requirements
Students will be assessed through tests, quizzes, assignments, and/or class participation.