MIB525 International Economics and Finance (3 cr.)

This course provides a comprehensive overview of the international economic and financial systems impacting global business today. Topics in international economics include the foundation of modern trade theory, impact of tariff and non-tariff barriers, labor and capital mobility, trading blocks, and protectionism. Topics in international finance include balance of payments, foreign exchange systems, exchange-rate determination, managing currencies, international banking, and the international monetary system. This course analyzes the theories and models which apply to an economy’s global trade and monetary relationships.

Upon completion of this course, students are expected to be able to do the following:

1. Understand the roles and functions of international economic and financial institutions.
2. Effectively analyze contemporary macroeconomic issues in the context of the global economy.
3. Analyze the economic interactions of the global economy and how the global economy affects global business practices.
4. Apply the principles of comparative and absolute advantage to explain how countries can benefit from trade.
5. Understand the tools governments utilize for protectionism and analyze the effects of tariffs, non-tariff barriers and quotas.
6. Identify and understand the various forms of business organizations and the different ways of financing them.
7. Understand the financial reporting requirements of the differing entities.
8. Understand the principles of managing current assets and current liabilities.
9. Assess the existence of management problems or opportunities through the reading and analyzing of a company’s financial statements and make comparisons to other companies in the same industry.
10. Compute present values using them in financial decision making.
11. Understand the impact of unethical behavior by an entity’s general and financial managers of the entity and its owners.
12. Understand the mechanics and risks of operating an entity in a global marketplace.