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International BusinessInternational BusinessLumen LearningDeveloped in Conjunction with Linda Williams, Tidewater Community CollegeCover Photo: Image of Shanghai, by Haley, fromUnsplash.com, availableCC0.
CONTENTSModule 1: It's a Small WorldModule 1: It's a Small World................................................................................................................................................................................................................1Overview............................................................................................................................................................1Discussion Post: Self Introduction.....................................................................................................................1Reading: What is International Business?.........................................................................................................2Video: Globalization Explained..........................................................................................................................4Video: Miniature Earth.......................................................................................................................................4Assignment: Going Global, Alfalfa for Everyone................................................................................................5Module 2: Trade Theory, from Mercantilism to Free TradeModule 2: Trade Theory, from Mercantilism to Free Trade..................................................................................................................6Overview............................................................................................................................................................6Reading: Why Trade?........................................................................................................................................6Video: Comparative Advantage and Trade........................................................................................................7Reading: Competitive Advantage......................................................................................................................7Reading: Absolute Advantage...........................................................................................................................9Video: Porter's National Diamond Framework Explained................................................................................12Assignment: The "Trader Ruler Game"...........................................................................................................12Module 3: Different Strokes …. Political and Economic Systems Around the GlobeModule 3: Different Strokes …. Political and Economic Systems Around the Globe................................1414Overview..........................................................................................................................................................14Video: Economic Systems...............................................................................................................................14Reading: Free-Enterprise................................................................................................................................15Reading: Capitalism in the US.........................................................................................................................18Reading: Socialism and Planned Economies..................................................................................................21Reading: The Benefits of Socialism.................................................................................................................25Reading: The Disadvantages of Socialism......................................................................................................29Reading: The Communist Economic System..................................................................................................32Reading: The Benefits of Communism............................................................................................................35Reading: The Disadvantages of Communism.................................................................................................38Reading: Mixed Economies.............................................................................................................................40Reading: The Benefits of Mixed Economies....................................................................................................44Reading: The Disadvantages of Mixed Economies.........................................................................................49Assignment: WRITTEN ASSIGNMENT: "Forever Bright" - Exporting and Economic/Political Systems.........53Module 4: "That's Not How We do it Back Home"... Cultural Systems Around the GlobeModule 4: "That's Not How We do it Back Home"... Cultural Systems Around the Globe................5555Overview..........................................................................................................................................................55Readings..........................................................................................................................................................55Reading: Dunkin' Brands - Dunkin' Donuts and Baskin-Robbins - Making Local Global.................................56Discussion Assignment: Dunkin' Brands - Dunkin' Donuts and Baskin-Robbins - Making Local Global.........58Module 5: Ignorance of the Law is No Excuse: Ethical and Legal Issues in Global BusinessModule 5: Ignorance of the Law is No Excuse: Ethical and Legal Issues in Global Business ....5959Overview..........................................................................................................................................................59Reading: Global Business Ethics.....................................................................................................................59Video: Lessons About Trust Learned from Globalization................................................................................66Assignment: Corruption Perception and Global Business...............................................................................67Module 6: Is "Free Trade" Really Free? The Political Challenges of Operating in a GlobalModule 6: Is "Free Trade" Really Free? The Political Challenges of Operating in a GlobalMarketMarket................................................................................................................................................................................................................................................................................6868Overview..........................................................................................................................................................68Video: Types of Trade Restrictions..................................................................................................................68Reading: International Economic Cooperation among Nations.......................................................................69Reading: International Trade Barriers..............................................................................................................73Assignment: Barriers to International Trade....................................................................................................76
Module 7: "Got NAFTA?" … Regional Economic IntegrationModule 7: "Got NAFTA?" … Regional Economic Integration........................................................................................................7878Overview..........................................................................................................................................................78Video: EU Crisis...............................................................................................................................................78Reading: Common Markets.............................................................................................................................79Reading: NAFTA..............................................................................................................................................81Reading: European Union...............................................................................................................................83Reading: APEC................................................................................................................................................85Assignment: Regional Integration....................................................................................................................88WTO Regional Trade Agreement Database....................................................................................................88Module 8: How Many Euros to the Dollar? Exploring Foreign Exchange MarketsModule 8: How Many Euros to the Dollar? Exploring Foreign Exchange Markets........................................8989Overview..........................................................................................................................................................89Reading: What is the International Monetary System......................................................................................89Video: What is the World Bank?......................................................................................................................99Video: About the IMF.....................................................................................................................................100Video: Fixed vs. Floating Exchange Rates....................................................................................................100Module 9: Does the World Bank have an ATM? Understanding the International MonetaryModule 9: Does the World Bank have an ATM? Understanding the International MonetarySystemSystem..........................................................................................................................................................................................................................................................................101101Overview........................................................................................................................................................101Video: Exchange Rates.................................................................................................................................101Assignment: The "Big Mac" Index.................................................................................................................102XE Currency Converter..................................................................................................................................103

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Term
Spring
Professor
Eric Helland

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