The Global Economy: History & Evolution

BE EC GE 300
Credit hours 3
Contact hours 45

This course is divided into two sections. Section 1 will give an overview of the global economy evolution throughout the past five centuries. This section will discuss the emergence of the "New World Economy" and examine the integration of product, labor and capital markets. Section 2, using micro and macroeconomic analysis tools, will look at the catalysts for and obstructers of market integration, and the impact of globalization on the economy and welfare of nations. Topics discussed will include: the role of international institutions such as the IMF and WTO, the impact of changing economic environments on competitive strategy, the emerging trade blocs (European Union, NAFTA), the fluctuation of exchange rates, and the emergence of new markets. Prerequisites: Introduction to Economics (Micro and/or Macro)