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BUS847Management Sciences2 Unitsintermediate

Global and Economic Environment

This course introduces students to the global economic environment and its impact on business operations. It explores international trade theories, globalization, and the role of international institutions. Key topics include global culture, multilateral negotiations, economic growth determinants, and financial crises. The course aims to equip students with the knowledge to navigate the complexities of the global economy and succeed in international business ventures, emphasizing strategic decision-making and risk management in a global context.

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208h

Study Time

13

Weeks

16h

Per Week

basic

Math Level

Course Keywords

GlobalizationInternational TradeEconomic EnvironmentMultilateral NegotiationsFinancial Crises

Course Overview

Everything you need to know about this course

Course Difficulty

Intermediate Level

Builds on foundational knowledge

65%

intermediate

➕

Math Level

Basic Math

📖

Learning Type

Theoretical Focus

Course Topics

Key areas covered in this course

1

Globalization

2

International Trade

3

Economic Growth

4

Financial Markets

5

Monetary Policy

6

Fiscal Policy

Total Topics6 topics

Ready to Start

No specific requirements needed

This course is designed to be accessible to all students. You can start immediately without any prior knowledge or specific preparation.

Assessment Methods

How your progress will be evaluated (3 methods)

Assignments

Comprehensive evaluation of course material understanding

Written Assessment

Tutor-Marked Assessments

Comprehensive evaluation of course material understanding

Written Assessment

Final Examination

Comprehensive evaluation of course material understanding

Written Assessment

Career Opportunities

Explore the career paths this course opens up for you

International Trade Specialist

Apply your skills in this growing field

Financial Analyst

Apply your skills in this growing field

Economic Advisor

Apply your skills in this growing field

Business Development Manager

Apply your skills in this growing field

Market Research Analyst

Apply your skills in this growing field

Industry Applications

Real-world sectors where you can apply your knowledge

BankingFinanceInternational TradeGovernmentConsulting

Study Schedule Beta

A structured 13-week journey through the course content

Week

1

Module 1: Global Economic Environment

8h

Unit 1: Global Economic Environment

4 study hours

•Define global economy and its characteristics
•Analyze the economic environment and its components
•Evaluate the status of the global economic environment

Unit 2: International Trade

4 study hours

•Discuss the meaning and scope of international trade
•Analyze the models of international trade
•List the largest countries by total international trade of goods and services

Week

2

Module 1: Global Economic Environment

8h

Unit 3: Strategic Aspects of International Trade

4 study hours

•Discuss the importance of international trade
•Analyze the concept of free trade
•Discuss trade barriers and reasons for imposing them

Unit 4: Terms of Trade and Theories of International Trade

4 study hours

•Discuss terms of trade and its features
•Analyze the techniques and economic effects of international trade restrictions
•Evaluate the theories of International Trade

Week

3

Module 1: Global Economic Environment

4h

Unit 5: Global Culture and Information Technology

4 study hours

•Discuss the origin and workings of information technology
•Analyze the trend of information technology in local and global businesses
•Evaluate the position of local and foreign firms in the current information technology age

Week

4

Module 2:

8h

Unit 1: International Trade and International Business

4 study hours

•Discuss international trade
•Analyze the basic concepts and reasons for international trade
•Examine the various forms of international trade

Unit 2: International Business Environment I

4 study hours

•Analyze the international uncontrollable forces
•Discuss the economic variables
•Evaluate the physical and environmental forces

Week

5

Module 2:

8h

Unit 3: International Business Environment II

4 study hours

•Discuss the socio-cultural variables
•Analyze the legal and political variables
•Discuss the legal forces affecting international business

Unit 3: International Business Environment II

4 study hours

•Analyze the nature of labour forces
•Evaluate the competitive forces as they affect international business

Week

6

Module 2:

4h

Unit 4: Globalization & New International Economic Order

4 study hours

•Discuss the new international economic order (NIEO)
•Analyze international trade in the context of NIEO
•Evaluate regulation & control of the activities of international institutions

Week

7

Module 2:

4h

Unit 5: Global Power and Wealth Distribution

4 study hours

•Discuss global power and wealth distribution
•Analyze instrument for Wealth Distribution
•Evaluate problem of power distribution

Week

8

Module 3:

4h

Unit 1: Multilateral Negotiations

4 study hours

•Discuss the connotation of negotiation & its purpose
•Analyze the elements of negotiation
•Evaluate the process of negotiation

Week

9

Module 3:

4h

Unit 2: Determinants of Economic Growth

4 study hours

•Discuss the term Economic Growth
•Discuss the variables that influence the definition of economic growth and development
•Analyze the factors that influence economic growth

Week

10

Module 3:

4h

Unit 3: Import Substitution Industrialization Strategy

4 study hours

•Discuss the basis of import substitution industrialization strategy
•Analyze the historic background of Import Substitution Industrialization
•Demonstrate how some theories motivated LDCs to engage in ISI as policy

Week

11

Module 3:

4h

Unit 4: Export Led Industrialization Strategy

4 study hours

•Discuss what export is all about
•Analyze the historical background and process of export
•Discuss the export strategy and ways of exporting

Week

12

Module 3:

4h

Unit 5: Financial Influence on International Business

4 study hours

•Analyze factors that affect international business finance
•Discuss the implications of foreign currency on international business
•Evaluate balance of payment

Week

13

Module 4:

8h

Unit 1: Inflation

4 study hours

•Discuss the meaning of the term Inflation
•Demonstrate how to measure inflation
•Analyze the issues involved in measuring inflation

Unit 2: Interest Rates

4 study hours

•Discuss the meaning of interest and interest rate
•Analyze the theories of interest rate
•Demonstrate how interest rate being used as a monetary policy instrument in Nigeria

This study schedule is in beta and may not be accurate. Please use it as a guide and consult the course outline for the most accurate information.

Course PDF Material

Read the complete course material as provided by NOUN.

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Study Tips & Exam Preparation

Expert tips to help you succeed in this course

1

Create concept maps linking Module 1-2 trade theories

2

Practice currency conversion problems from Units 7-9 weekly

3

Review key terms from Units 3-5 related to trade barriers

4

Summarize the main points of each unit in your own words

5

Focus on understanding the relationships between different economic concepts

6

Practice applying the concepts to real-world scenarios

7

Review all TMAs and assignments

8

Create flashcards for key terms and concepts

9

Practice answering past exam questions

10

Allocate sufficient time for revision

11

Get enough sleep before the exam

12

Read the questions carefully before answering

13

Manage your time effectively during the exam

14

Review your answers before submitting

15

Stay calm and focused during the exam

16

Understand the different types of exchange rate systems and their implications

17

Be able to explain the causes and effects of inflation

18

Be familiar with the role of international institutions in the global economy

19

Understand the lessons learned from past financial crises

20

Practice applying economic concepts to real-world scenarios

21

Review all TMAs and assignments

22

Create flashcards for key terms and concepts

23

Practice answering past exam questions

24

Allocate sufficient time for revision

25

Get enough sleep before the exam

26

Read the questions carefully before answering

27

Manage your time effectively during the exam

28

Review your answers before submitting

29

Stay calm and focused during the exam

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