MGTC 400 – Global Economics (1.5)
The study of global economics takes into consideration elements of both microeconomics and macroeconomics, while applying these theories to the area of international business. The main elements that will be studied within this competency are the international trade theories and systems that are in use today. As the world becomes increasingly global through advancements in technology, the future business leader needs to have clear insights into the understanding of global economics.
Upon successful mastery of this competency, you will be able to:
- Understand how trade balances and capital flows are related, including how these flows affect domestic savings and interest rates.
- Describe the effects of tariffs and quotas on domestic prices, production, and consumption.
- Explain how foreign exchange rates are determined and differentiate between floating and fixed exchange rate systems.
- Understand the drivers of economic growth (i.e., why some countries grow faster than other countries).