SEMESTER AT SEA COURSE SYLLABUS (REV 7/2010 TO INCLUDE FDPS) FALL, 2010 COMMERCE 4559-501- Emerging Markets Upper Division Professor Steven Dickstein Shipboard Contact: [email protected]PRE-REQUISITES This business course will be appropriate for students from any business major or economics. It may also offer an interesting elective opportunity for majors or minors in Cultural Anthropology or area studies who are interested in how business must adapt to different cultures and economic landscapes. This reflects the importance of history (in particular, relationships with the United States) and geo-politics in understanding business practices and differences in emerging markets. Students should be able to use case study methods to analyze diverse business situations, to work effectively within a team environment, and to communicate clearly for both oral and written assignments. COURSE DESCRIPTION “They traded actively throughout the Atlantic world. On the eve of the Revolution a larger part of per capita income in the Colonies came from foreign trade than in any other era of American history.”(excerpted from Washington’s Crossingby David Hackett Fisher). The original Colonies could be considered emerging markets in their time, providing raw materials and new markets for England. The nature of this relationship was a source of the friction that precipitated the Revolution. This example of colonial trade is just a snapshot in time demonstrating “globalization” and “emerging markets”. Our course subject is really not new at all, but rather addresses new global relationships, specifically between the United States and the emerging markets often referred to as BRIC (Brazil, Russia, India, China) and others. Today, global trade is an important contributor to national wealth with the United States looming as its largest player with estimated 2007 imports and exports totaling over $3 trillion. In the second half of the 20thcentury, American commercial and geopolitical interests converged in the fundamental belief that increasing global trade is like the rising tide that raises all ships. The challenge comes in the recognition that not all nations participate and benefit equally. The importance of emerging markets is explained by their large populations and rising opportunity, reflecting a convergence of historical significance: the collapse of Communism, new market economies in China and India and the overall decline of trade imperialism. As companies seek competitive advantage in the global marketplace, they are forced to develop strategies to deal with Emerging Markets. This course is designed to study and to understand the differences of these markets. Our focus then addresses how these issues affect commercial opportunities in several of the areas to be visited and to understand the different
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