Extent: 3 ECTS (81 h)
Timing: 3rd or 4th semester
Level: Professional Studies
Starting level and linkage with other courses
The student has completed the courses Kansantalouden perusteet (ECO1LH001) (i.e. Principles of Economics) and Business English (ENG1LH001).
Upon successful completion of the course, the student is able to analyze and evaluate the effects of the international economic environments on the firm.
- understands the theoretical background for international economics
- will have a holistic view on the international economic environment
- develops strategic thinking for international business operations.
Cooperation with the business community
The course forms an essential component in the International Business Module, where learning is linked to business contacts.
Teaching and learning methods
Contact lessons and exam 32h
The own learning assessment 1h
A selected country will be analyzed using concepts related to international economics. Potential effects of these on the internationalization plan in the International Business Module will be studied.
Accreditation of prior learning (APL)
Accreditation of prior learning (APL) is observed on the course according to separate instructions.
Husted, S. & Melvin, M. 2012. International Economics. Pearson, Prentice Hall.
or Krugman. P., Obstfeld, M. & Melitz. M. 2012. International Economics: Theory and Policy. Pearson. Boston. Selected chapters.
Students' performance is graded on the following scale: Excellent (5), Very good (4), Good (3), Satisfactory (2), Fair (1), Fail (0). The assessment criteria is presented on scale 1 to 5.
- knows some of the economic mechanisms in the international economic sphere
- knows some of the basic concepts of international economics
- knows how economics is related to international economics
- knows core concepts of both international trade and international finance
- has a very good understanding of different models used in international economics
- has a very good understanding of the potential effects of international trade and international finance on the firm
- in a team, is capable of analyzing some of the effects of the international
economy on the firm
- is also independently capable of analyzing effects of international trade as well as international finance
on the firm
- can independently analyze potential opportunities in the international environment for the firm
- understands news related to international economics
- knows where to look for information
- feels comfortable when working in a team
- in a team,
can make suggestions for preventive and corrective measures
- can guesstimate developments
in the uncertain international economic environment
- can take preventive and corrective action
- can take initiative in formulating competitive strategies
Assessment cmponents and their respective weights
The assessment of one's own learning assignment does not impact your grade. The assignment is the same for all courses/modules and your answers will be used also for course/module development. The assignment is completed on an electronic form.