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MGMT 673 : Global Economic Analysis

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MGMT 673-WW
Campus
Worldwide
College of Business (WBUAD)
MGMT
673
Global Economic Analysis
3
Managers in any industry, and particularly those employed by aerospace firms conducting business worldwide, can benefit from a foundation in applied international economics. This course builds three economic models for markets in real goods and services, credit, and foreign exchange. These qualitative models are then integrated into a single analytical framework that students use to understand the effects of government economic policy initiatives and external shocks on an economy. This analysis provides the basis for recommending actions a firm can use to benefit from or mitigate the adverse effect of evolving global economic forces. No previous economic background is required, but students should welcome an analytic approach to problem solving.

This course provides the management practitioner and graduate student with a foundation in international economic analysis. The focus is on how firms and industries are affected by broad macroeconomic variables that are determined in national and international markets. Firms have little or no influence over these variables but good decision making means ensuring that the major risks connected to changing variables are clearly identified, measured, and addressed. At the conclusion of the course, students will be able to recognize evolving macroeconomic forces as reported in major international business publications and assess the likely significance and impact on future business risk, opportunities, and profits.

Upon course completion, the student will be able to:

1. Diagram the circular flow model identifying the components of national income and gross domestic product and explicate conditions for equilibrium.

2. Describe the business cycle, its measurements and correlation with various economic indicators with an emphasis on employment.

3. Define inflation, its various measures and assess its effects on firms, households and national government.

4. Illustrate the process by which commercial banks create money and explain the tools central banks employ to manage a nation’s money supply.

5. Demonstrate how various market forces interact to determine interest rates in the loanable funds market.

6. Utilize the Keynesian model of macro economy to assess government actions to simultaneously achieve full employment at low inflation in the real goods market.

7. Explain how exchange rates are determined by market forces in the foreign exchange markets.

8. Assess the costs and benefits of world trade and effectiveness of government actions to manage current account balances.

9. Illustrate the interaction of the real goods, loanable funds and foreign exchange markets in assessing the economic shocks to a nation’s economy.

10. Explain the impact of compounded growth on economic well-being and how government can promote sustained economic growth.

Located on the Daytona Beach Campus, the Jack R. Hunt Library is the primary library for all students of the Worldwide Campus. The Chief Academic Officer strongly recommends that every faculty member, where appropriate, require all students in his or her classes to access the Hunt Library or a comparable college-level local library for research. The results of this research can be used for class projects such as research papers, group discussion, or individual presentations. Students should feel comfortable with using the resources of the library. 


Web & Chat: http://huntlibrary.erau.edu
Email:  library@erau.edu
Text: (386) 968-8843
Library Phone:  (386) 226-7656 or (800) 678-9428
Hourshttp://huntlibrary.erau.edu/about/hours.html
 

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Written assignments must be formatted in accordance with the current edition of the Publication Manual of the American Psychological Association (APA) unless otherwise instructed in individual assignments.

ActivityPercent of Grade
Input Grading Item100

Undergraduate Grade Scale

90 - 100% A
80 - 89% B
70 - 79% C
60 - 69% D
0 - 60% F

Graduate Grade Scale

90 - 100% A
80 - 89% B
70 - 79% C
0 - 69% F
Gerald N. Cook, D.B.A. - 7/1/2015
Gerald.Cook@erau.edu
Timothy Holt - 7/1/2015
holtt@erau.edu
Dr. Aaron M. Glassman - 7/1/2015
aaron.glassman@erau.edu
Dr. Bobby McMasters - 7/1/2015
mcmas245@erau.edu
Key: 323