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econ global fall 2011 outline

econ global fall 2011 outline - York University Department...

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York University Department of Economics Faculty of Liberal Arts and Professional Studies AP/ECON3473 3.0 – Global Business Economics Fall 2011 Instructor: George J. Georgopoulos Office: Vari Hall, room 1080 Phone: (416) 736 2100 x30108 Email: [email protected] Lecture Time and Location: Thursdays 4-7pm, SC 302 Office hours : Tuesdays, Thursdays 1:15-2:15, or by appointment Course Website : http://jacinth.eso.yorku.ca/2011f-apecon3473a-03 ______________________________________________________________________ Objectives and Structure of the Course This course is organized along three themes: International Trade International Finance International Investment and Business International Trade The course introduces (or reviews, depending on the student’s experience) the fundamental economic principles of international trade including comparative advantage, gains from trade and the determinants of industrial specialization. Countries unequivocally gain from trade. On the other hand, individual companies and industries may or may not gain from trade liberalization. Companies that do not gain from trade liberalization tend to be those that have enjoyed the narrow benefits of trade protection. Those that gain are typically those that come to enjoy easier access to expanded markets. The general point is that production efficiency can be expected to be enhanced in all industry as a result of trade liberalization. From the perspective a particular industry or firm, it is our objective to understand the extent to which international influences in general, along with impediments to trade and investment in particular, shape opportunities for business. The vast bulk of international trade is carried on within firms, so-called intra-firm trade by
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transnational enterprise. More than 75 percent of trade in manufactured and processed goods is intra-firm trade. In light of the overwhelming importance of intra-firm trade, and also in view of the relevance for transnational corporate strategy and management, in this course we extend and adapt the traditional trade model to better understand the connections between cross-border investment and international trade including how these connections reflect multinational corporate strategy. Current issues in international trade addressed in the course include the multilateral negotiations at The World Trade Organization and the increasingly regional focus of trade liberalization – NAFTA, European Union, ASEAN and the FTAA. We also examine a number of specific current issues in international business including trade dispute mechanisms, trade in services (with special emphasis on financial services), international aspects of competition policy and the so-called “new protectionism”. International Finance
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