Global and Economic Environment

1. Explain the meaning and scope of international trade
2. Discuss the importance of international trade and highlight its advantages and disadvantages
3. Explain terms of trade and the meaning and implications of trade barriers
4. Explain the workings of international business
5. Discuss globalization and international economic order

13 weeks, about 72 hours in total. Yours will differ.

1. Week 1Module 1: Global Economic Environment

   • Unit 1: Global Economic Environment · 4 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 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.

2. Week 2Module 1: Global Economic Environment

   • Unit 3: Strategic Aspects of International Trade · 4 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 hours

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

3. Week 3Module 1: Global Economic Environment

   • Unit 5: Global Culture and Information Technology · 4 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.

4. Week 4Module 2:

   • Unit 1: International Trade and International Business · 4 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 hours

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

5. Week 5Module 2:

   • Unit 3: International Business Environment II · 4 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 hours

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

6. Week 6Module 2:

   • Unit 4: Globalization & New International Economic Order · 4 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.

7. Week 7Module 2:

   • Unit 5: Global Power and Wealth Distribution · 4 hours

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

8. Week 8Module 3:

   • Unit 1: Multilateral Negotiations · 4 hours

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

9. Week 9Module 3:

   • Unit 2: Determinants of Economic Growth · 4 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.

10. Week 10Module 3:

    • Unit 3: Import Substitution Industrialization Strategy · 4 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.

11. Week 11Module 3:

    • Unit 4: Export Led Industrialization Strategy · 4 hours

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

12. Week 12Module 3:

    • Unit 5: Financial Influence on International Business · 4 hours

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

13. Week 13Module 4:

    • Unit 1: Inflation · 4 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 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.