Prague, Czech Republic - Course Descriptions - Globalization - Its Social and Economic Aspects

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The aim of the course is to help students to understand the process of globalization and its influence on the world and European economy. The globalization of markets and companies, the global impact of wars, terrorism and even poverty and diseases define the nature of today’s business. Successful managers of multinational companies view the world as an integrated market where competition and collaboration evolve from almost anywhere and anyone. The course covers the new role of economic giants of China and India and its influence on the world order and global policies. Developing and making strategies are important needed skills for successful business career. The course pays special attention to the role of the multinational corporations (MNC).

AIM OF THE COURSE:
This multi-disciplinary course covers different aspects of globalization. Special attention is paid to the economic dimension of globalization, international trade and the role of multi-national corporations (MNCs).

The aim of the course is to help students to understand the process of globalization and its influence on world economy. It explains the dynamics and importance of cross-cultural communication. The course combines theoretical approach with case studies and practical discussions. Students are expected to follow press and electronic articles to be able to participate actively.

COURSE FORMAT:
The course will be conducted in seminar form, combining lectures, discussions and group-work. It is important for students to have read the assigned course material.
In-class discussions will focus on assigned readings and current business developments occurring in developed, as well as developing world.

NOTE:
Class sessions normally commence with a brief look at current business issues, which relate to the world global problems. Students should be prepared to participate and contribute to the discussion. Hence, students should keep abreast of current world business developments by reading leading publications on business (i.e. The Economist, Financial Times, Wall Street Journal Europe, Prague Business Journal etc.).

COURSE ORGANISATION:
There are two sessions every week. In the Week 6, students will sit a mid-term exam during the 2nd session. Starting approximately by Week 8, classes will be dedicated to students’ presentation (will be specified according to the final number of participants). The final exam will take place in Week 12. The last session will take form of a series of informal grading meetings between individual students and the instructors.

CLASS REQUIREMENTS:

Grading Scheme:

Class Attendance and Active Participation - 30 %
2 Assignments (10, 15+5) - 30 %
Midterm Test - 20%
Final Test - 20 %
           

Grading Scale:

90 - 100 A (Excellent)
89 - 75 B (Very Good)
74 - 60 C (Good)
59 and less – F (Failure)

ATTENDANCE:
It is impossible to participate in absentia. Attendance is expected and unexcused absences will adversely affect one’s course grade. In all cases of absences, professional courtesy dictates that the instructor is informed prior to class. Failure to do so will cause considerable consternation.

ACTIVE PARTICIPATION:
Class participation is an important element in the learning process. Active, quality participation is expected. Students are graded on their participation and contribution to class discussion. Voluntary inputs are strongly encouraged.

PREPARATION:
The assigned cases and readings for this course constitute a heavy workload. Students are expected to read the assigned material and be fully prepared for each class. Students should be prepared to engage and contribute to the discourse. One should come to each class ready to open the discussion, just as one must be prepared when attending a business meeting. If for some reason you find yourself unprepared for a particular class, please inform the instructor prior to the start of class. This professional courtesy will be mutually beneficial.

ASSIGMENTS:
Case Analysis: Students will be required to carry out a case study relating to major business issues in world economics. As a result, students shall submit a paper outlining their findings.
Students should be prepared to discuss cases in class sessions.

Essay and Presentation: Participants are expected to write an academic essay on a course-related topic of their choice. The topic must be approved by course-instructors. The work will be carried out either individually or in small teams of two or three. The findings shall be presented to the class in formal presentations. For more information see the attachment to this syllabus.

NOTE:
Submitting a plagiarized paper is a violation of Czech law

EXAM:
There will be a final exam based on assigned readings, lectures and class discussions. The questions will be essay type and will focus on issues covered in the course.

CONTENT:
(This is a rough outline of course-content; changes can be made based on current developments, students’ requests etc. Some issues will be discussed in several sessions; some will fit into one session. The issues at hand will overlap to some degree.)

1. The Challenge of Globalization
Defining Globalization
The Proactive Forces Supporting Globalization
Global Outsourcing
Economies of Scale
Movement towards Homogenous Demand
Lowered Transportation Costs
Telecommunications
Global Economic Institutions
Government Tariffs and Taxes
Anti- Globalization Forces

2. Globalization and Environment
The Major Environmental Challenges
Climate Change
Demographic Growth
The Global Waste
Poverty

3. Globalization of Culture
What Is the Culture?
The Components of Global Culture
MNC and World Cultural Market
Religions Its Role

4. Globalization of Economy
Commending Heights in the Global Economy
The Global Players in World Economy
Economic Theories of International Trade
Theory of Comparative Advantage
Heckscher-Ohlin Theory of Factor Endowment
Enjoying the Fruits of Globalization- Have and Have- not Nations
The Globalization of Finance
The Role of FDI- Hanson’s Formula 
The Social Problems of Outsourcing
The Role of MNC
Regional Integration and Economic Globalization
Global Tourism

5. Porter’s Diamond Model of Competitiveness
Factor Conditions
Demand Conditions
Related and Supporting Industries
Firm Strategy, Structure, and Rivalry
The Role of Chance
The Role of Governmental Policy
The measurement of the Competitiveness
Case study: Airbus vs. Boeing

6. Management Philosophy and Business Activities of MNC
Evolution and Changes in a MNC Organizational Structure
Basic Organizational Decisions
Corporate Governance
Culture and its Effects on Organizations
Culture and Management Styles around the World

8. The Corporate Social Responsibility of MNC
The Social Responsibility of MNCs
Ethics in International Management
Codes of Conduct
The Sustainable Development Theory
Case: Bata- CSR

9. Other Dimensions of Globalization
International Flows of Humanity
Accelerating the Achievement of Social Agendas
Managing Transitions


LITERATURE:
Bhagwati Jagdish., In Defense of Globalization, Oxford University Press, 2004;
Wolf Martin., Why Globalization Works, Yale University Press, 2004 ISBN
Reader and handouts;
Further reading materials will be indicated in classes

ATTACHMENT

A. ESSAY AND PRESENTATION

The essay is designed to help the student gain experience in how to conduct a systematic and thorough analysis of a specific topic or issue related to international management. The key requirement of the essay is that it covers a global topic and improves the communication skills of students.

B. FORMAT;

Each student should carry out the analysis individually or as a part of a team.
It is required that each student or team submits a one-page typed topic proposal by week 6. The proposal should include the following:

a.    Brief description of the global issue in question;
b.    Brief description of the target region or country;
c.    Proposed methods of investigation;
d.    Sources of literature.

The resulting essay should not exceed ten (10-15) typed doubled-spaced pages, excluding tables, graphs, exhibits and appendices. The essay is due in the 9th week. The format of the essay will be left to the style and objective of the authors, however, each paper must include the following:

a.    Title page: authors, course name and number, date
b.    Acknowledgements
c.    Body of the report.
d.    Conclusions and recommendations.
e.    Endnotes.
f.    Bibliography

C.    PRESENTATION:
Each student or team is required to prepare a fifteen- (15) minutes presentation of their research. Presentations will be graded on the basis of quality. Quality is achieved when reports are clearly and interestingly presented for the students in an in-class session. Presentations should be well organized, creative, accurate, well documented, and interesting. Reports are considered authoritative when they are focused and supported by thoroughly documented information.
Presentations will be followed by a question and answer session. All sessions will be peer reviewed.

GRADING:
The project and presentation will be evaluated with the score of 15 for presentation + 15 points for essay.  
                                   

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