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Global Business Environment

Global Business Environment

Code: IBU2LF001
Extent: 6 ECTS (162 h)
Timing: Semester 3
Language: English
Level: Joint Professional Studies
Type: Compulsory

Prerequisites

The student has successfully completed the Basic Studies (= the two first semester courses). The course is part of the module Assessing Global Economic and Legal Environment and integrated with the course of Multicultural Business Communication in English.

Learning outcomes

Upon successful completion of the course, the student

  • knows the core concepts of trade theories and international law
  • understands the importance of a competitive advantage for a company operating in global markets
  • is able to analyze the risks related to the foreign exchange and investment markets
  • knows the key instruments to manage exchange and investment risks
  • knows the legal determinants of the applicable law for the transactions both globally and in the European Union
  • is familiar with risks involved and issues necessary to be included in international business contracts
  • understands the prohibitions on international competition restrictions
  • understands how international disputes are resolved
  • has enhanced his/her HH3S competences as applicable to the course.

Course contents

Theme 1: International Economics and Finance

  • Classic and modern trade theories
  • Competitive advantage of a firm
  • Trade policies
  • Foreign exchange markets
  • Determination of exchange rates
  • Managing foreign exchange risk and exposure

Theme 2: International Business Law

  • Sources of international law
  • Different legal systems
  • Basic legal principles and legislative framework of the European Union
  • Conflicts of laws and jurisdiction
  • Dispute resolution
  • International contracts and trade
  • International competition law principles

Cooperation with the business community

Guest speakers, real business-based examples and cases.

International dimension

International and global business approach to course themes and topics, contributions by multinational student groups and company cooperation.

Teaching and learning methods

Contact  lessons and exam
Case studies
Team work and project work
Independent studies
The assessment of one’s own learning 1 h

Accreditation of prior learning

Accreditation of prior learning is observed on the course according to separate instructions.

Teachers with the main responsibility for the course

Sami Hartikainen
Matti Perttu
Satu Pitkänen
Seppo Suominen

Course materials

August, R., Mayer, D., Bixby, M. 2013. International Business Law. 5th edition. Prentice Hall. New Jersey.
The United Nations Convention on Contracts for the International Sale of Goods. 1980. Vienna.
Husted & Melvin. International Economics. Pearson. 2012, 9th edition. or
Krugman. P., Obstfeld, M. & Melitz. M. 2012. International Economics: Theory and Policy. Pearson. Boston. Selected chapters.

Assessment criteria

Grade/Learning Outcomes

1 (Min. 40%
competence level)
3 (Min. 70%
competence level)
5 (Min. 90%
competence level)
Knowledge The student has a limited understanding of the key theories, concepts and the principles of international economy and law. The student has some understanding of the key theories, concepts and the principles of international economy and law. The student has a good understanding of the  theories, concepts and principles of international economy and law.
Skills The student has a limited capability of analyzing in a team the effects of international economy and law on a firm. The student is independently capable of analyzing some of the effects of international economy and law on a firm. The student is independently capable of analyzing the effects and opportunities of international economy and law on a firm.
Competence The student poorly applies some of the tools and principles used in assessing risks of international business environment for a company’s market entry. The student shows poor service and sales orientation as required by the HH3S policy. The student is able to relatively independently apply the basic tools and principles used in assessing risks of international business environment for a company’s market entry. The student shows good service and sales orientation as required by the HH3S policy. The student is able to independently and professionally apply tools and principles used in assessing risks of international business environment for a company’s market entry. The student shows excellent service and sales orientation as required by the HH3S policy.

Modes of assessment and their weights

Assessment

Targets (in Winha) 

Assessment target

Minimum grade of 1 required for all targets.

% of theme grade

% of course grade

Theme 1

International Economics

 

 

Attendance: Active and purposeful contribution to class activities

33 1/3 %

 

50%

Project

33 1/3%

Examination

33 1/3%

 Theme total

100%

Theme 2

International Law

 

Daily class work: Active participation, problem-solving skills, rational comments

10%

 

50%

Assignment

20%

Project

30%

Examination

40%

Theme total

100%

The assessment of one's own learning does not influence the course grade. The assignment is the same for all courses/modules and the answers will also be used for course/module development. The assignment is completed on an E-form.