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    Intended for students enrolling in Executive Economics and Global Strategy, this syllabus contains information specific to the course. It is a definitive record of the course's primary characteristics and the learning outcomes that a typical student can reasonably be expected to achieve if they take full advantage of the available learning opportunities. This document also serves as a reference for academic and support staff, internal and external examiners, and for future course monitoring and review.


    Course Title

    Executive Economics and Global Strategy

    Subject Area:


    Course Code

    ECON 51011

    Course Level






    Methods of Delivery




    Expected Length

    5.0 Weeks

    Class Meetings

    To be determined


    A/Prof. Evgeny Ivanov


    Computer Software: Microsoft Excel.


    Text 1: ECON

    Title: Economics

    Author(s): Glenn Hubbard and Anthony Patrick O'Brien

    Edition: 8th

    ISBN: 9780136880844

    Text 2: IETP

    Title: International Economics: Theory and Policy

    Author(s): Paul R. Krugman, Maurice Obstfeld, and Marc Melitz

    Edition: 12th

    ISBN: 9780137465699


    This course provides an analytic and applied overview of both microeconomics and macroeconomics. Economics is not primarily a set of answers, but rather a method of reasoning. This course also provides students with the conceptual tools necessary to understand and work effectively in today's interconnected world by developing strategic perspectives that link this changing environment, the state of the global industry, and the capabilities and position of the firm. The course provides frameworks for identifying and taking advantage of the opportunities presented in a dynamic global environment at the country and industry levels. It then focuses on firm-level strategic choices regarding where to engage in which activities. Finally, it covers the challenges of integrating the multiple perspectives, functions, and interests that constitute the multinational firm.


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

    • Use the framework learned to form judgments about the major economic problems faced by the United States and other countries.

    • Examine how prices are determined in competitive markets and what can distort that determination.

    • Analyze the market structure, including the fundamentals of firm pricing and production decisions.

    • Analyze what happens when market conditions change.

    • Examine how these changes affect overall social welfare.

    • Address issues concerning trade, such as when countries or individuals should trade.; who gains or loses from trade.

    • Investigate the key economic statistics in the business press and other media, such as GDP, the CPI, and the unemployment rate.

    • Discuss economic growth and development, one of the most pressing issues of our time. Worldwide, economic development is a matter of life and death.

    • Examine in detail what causes economic fluctuations and how government policies--monetary and fiscal policy--can dampen these cycles.

    • Explain how the Federal Reserve and monetary policy must be predicated on understanding the banking and financial system through the monetary authority.

    • Discuss how fiscal policy works and its implications for the economy in the short and long term.

    • Evaluate the economic policies promulgated by the government and other institutions.

    • Use economic theory to assess motives for firms' exports and imports.

    • Understand the sources of opportunities and threats due to globalization in domestic and foreign markets.

    • Understand the aggregate impact of individual firms' decisions.

    • Relate real-world examples of multinational choices to motives for market access and cost reduction.

    • Understand the sources of interconnectedness between different countries.

    • Formulate conjectures on the impact of environmental changes on the behavior of international competitors.

  • WEEK 1

    Module 1

    Economics: Foundations and Models

    Reference(s): ECON Ch1

    Module 2

    Demand and Supply

    Reference(s): ECON Ch3 Sec3.1-3.4

    Module 3

    Consumer and Producer

    Reference(s): ECON Ch4 Sec4.1-4.3

    WEEK 2

    Module 4

    International Trade

    Reference(s): ECON Ch9 Sec9.1-9.3

    Module 5

    Production and Costs

    Reference(s): ECON Ch11 Sec11.4-11.5

    Module 6

    Firms in Perfectly Competitive Markets

    Reference(s): ECON Ch12 Sec12.1-12.4

    WEEK 3

    Module 7

    GDP, Unemployment, and Inflation

    Reference(s): ECON Ch18 Sec18.1-18.3 and Ch19

    Module 8

    The Economy in the Long Run and Short Run

    Reference(s): ECON Ch20 Sec20.1 & Sec20.3, Ch21, Ch22 Sec22.2 & Sec22.5, and Ch23

    Module 9

    Monetary and Fiscal Policy

    Reference(s): ECON Ch24-26

    WEEK 4

    Module 10

    The Global Economy

    Reference(s): IETP Ch2-3

    Module 11

    The Heckscher–Ohlin Model

    Reference(s): IETP Ch5

    Module 12

    Firms in the Global Economy

    Reference(s): IETP Ch7-8

    WEEK 5

    Module 13

    Multinational Strategies I


    Module 14

    Multinational Strategies II


    Module 15

    Multinational Strategies III



    WEIGHT: 10.0%

    DEADLINE: 23:59 (GMT+0) on Sunday of Week 5

    All students are expected to participate actively in discussions, class exercises, activities, simulations and group work. Regular attendance, preparation and participation in class discussions (online and in discussion forums) are required. Good attendance results in more opportunities to engage in quality participation and earn a higher participation grade.

    Class participation and discussion indicate that students have read the assigned readings. Grades will not be based on the number of posts submitted or comments made in a class, but rather the overall contribution to the discussion. Students are encouraged to exchange contact information and provide support to one another if a class is missed. They must contact the course instructor if concerned about attendance or in need of additional information on any assignment. If a student is unable to attend 3 or more classes, then they may be asked to complete additional assignments in order to complete a course.


    WEIGHT: 10.0%

    DEADLINE: 23:59 (GMT+0) on Sunday of Week 1-4

    General Information

    Each week from Week 1 to Week 4, students must complete one graded quiz with twenty (20) multiple-choice questions. These assessments aim to determine the level of comprehension and mastery of the material covered each week. The deadline to submit this assessment is always on Sunday at 23:59 (GMT+0) each week from Week 1 to Week 4. Quiz assignments are graded by computer, and the grade is stored in the online grade book. Only one 40-minute attempt per quiz is allowed.


    • Weight: 2.5%

    • Deadline: 23:59 (GMT+0) on Sunday of Week 1


    • Weight: 2.5%

    • Deadline: 23:59 (GMT+0) on Sunday of Week 2


    • Weight: 2.5%

    • Deadline: 23:59 (GMT+0) on Sunday of Week 3


    • Weight: 2.5%

    • Deadline: 23:59 (GMT+0) on Sunday of Week 4


    WEIGHT: 20.0%

    DEADLINE: 23:59 (GMT+0) on Sunday of Week 5


    WEIGHT: 60.0%

    DEADLINE: 23:59 (GMT+0) on Sunday of Week 5


    Please be sure to review the following important information about the University Policies and Procedures.

    All students must participate in all classroom activities, attend classes regularly, and prepare before classes for classroom activities that require advance preparation. Students need to fully appreciate that good attendance results in more opportunities to engage in quality participation, which, in turn, results in a more thorough acquisition of subject knowledge and higher participation grades.

    Participation in classroom discussions indicates that students have read the assigned readings. Grades will not be based on the number of posts submitted or comments made in the classroom but on the overall quality of contributions to discussions.

    If a student is unable to attend 3 or more classes, he/she may be asked to complete additional assignments to complete the course.

    Mode of Attendance

    For the portion of the course that takes place over Microsoft Teams:

    Students are required to arrive on time and engage appropriately with their fellow students, their teacher(s) and course materials. They must attend with a functional web camera and microphone, have the latest version of Microsoft Teams installed on their computers, avoid attending via a mobile phone or web browser, and have all necessary materials to hand. Also, their cameras must be always switched on, except for occasions when privacy becomes a necessity. In addition, they must be appropriately attired, attend in an environment that will not distract them, their fellow students or their teacher(s), especially avoiding attending while in a vehicle, whether moving or stationary.

    For the on-campus portion of the course:

    The mandatory on-campus session meets as per the AUS Campus schedule. Good attendance is required to earn credits and pass the course. Students cannot arrive late or leave early. Students traveling from afar must plan accordingly, giving themselves plenty of time to arrive by the start of class. No exceptions can be granted.

    Classroom Expectations

    Classes start and end on time, with late entry or reentry allowed only under exceptional circumstances. All phones and electronic devices must be turned off.


    The expectation is that students read assigned materials prior to class. Class discussions are based on their reading of these materials and their reflections on what they have learned and how these relate to their experiences. Assignments are intended to encourage students’ exploration, reflection on and synthesis of assigned topics and course discussions.

    Assessments are listed in the course syllabus and are due by the stipulated deadlines.

    No assessment will be accepted after the day following the day it is due. If an assessment submission is one day late late, it will receive an automatic reduction in grade of one letter, for example, from an A to a B. After that, no late work will be accepted, and the student will receive an F grade for the assessment.

    Submission of late papers must be approved in advance. Late final papers will not be accepted.


    Students are responsible for understanding the University Policies and how to use sources responsibly. Violations of academic integrity are taken very seriously. Students are asked to visit the course RESM 50011: Fundamentals of Graduate Research Reading and Writing to review important information on academic citation and referencing rules.


    The University is committed to providing an accessible academic community. The Disability Services (DS) is responsible for providing accommodations to students with disabilities. Students must request accommodations or adjustments through the DS. Instructors cannot grant accommodation requests without prior DS approval. It is imperative to be in touch with the DSS as soon as possible to avoid delays in the provision of an accommodation.

    The University takes student privacy seriously. Any medical documentation should be provided directly to the DS if a substantial accommodation is required. If a student misses any classes due to a short-term illness, he/she should notify his/her instructor but to avoid the inclusion of a doctor's note. Course staff will not request, accept, or review doctor's notes or other medical documentation. For more information, email


    Students may not post, publish, sell, or otherwise publicly distribute course materials without the written permission of the course instructor. Such materials include, but are not limited to, the following: lecture notes, lecture slides, video, or audio recordings, assignments, problem sets, examinations, other students’ work, and answer keys. Students who sell, post, publish, or distribute course materials without written permission, whether for the purposes of soliciting answers or otherwise, may be subject to disciplinary action, up to and including a requirement to withdraw. Furthermore, students may not make video or audio recordings of class sessions for their own use without written permission from the instructor.


    It is never appropriate to use materials prepared for previous courses by students or faculty. Students should not use previously completed case write-ups, or summaries of readings.


    Additional information can be found on the course website.

    Please note: the syllabus may be modified prior to and during a course, including updates to assignments and additional material.