Professional skills and expertise
In this module, students will acquire the skills to assess the economic and institutional (political-legal) factors which can have an impact on a company's international business strategy. The dynamic interplay between economic and institutional factors is also considered. The module takes both a global and a regional perspective on the business environment with a particular focus on the Central Eastern Europe and South East Europe (CEE/SEE) region and on the legal and political business environment in the European Union.
On successful completion of this module, students will be able to:

• evaluate the potential impact of national and international trade policies on companies that operate on international markets
• explain the driving forces of economic growth and development
• assess key factors in the institutional environment as well as economic growth and development patterns of international target markets (in particular in the CEE/SEE region)
• describe the fundamentals of EU competition law and their impact on business practice

• critically read and discuss media texts on the economic and institutional environment in international markets
• find and interpret relevant country-specific data on trade, growth, and economic development

• use online sources for researching and assessing information to solve international business case studies
• use collaborative software to accomplish joint team tasks

None

This module covers the following topics:
I. Assessing the international economic environment and trade policies
• Key macroeconomic indicators
• Determinants and effects of international trade and investment (international trade theory)
• International trade policy and its instruments
• International capital flows
• Trade and investment patterns in the CEE/SEE region
II. Assessing the economic growth and development of international target markets
• Theories and models of economic growth, development, and transition
• The role of institutions and government in facilitating growth
• Characteristics of transition countries
• The influence of legal certainty and corruption on economic development
• Global and regional patterns of economic growth, development, and transition (with a focus on the CEE/SEE region)
III. The legal and political business environment in the European Union and the CEE/SEE region
• The institutional environment in the EU (EU institutions and legal system)
• Fundamentals of EU business law (including different sources of EU law)
• Basics of EU competition law
• Institutional framework conditions and legal certainty in the CEE/SEE region

Kirk, E. (2018). EU Law. 6th ed. Harlow: Pearson.
Krugman, P., Obstfeld, M., & Melitz, M. (2018). International Economics: Theory and Policy. 11th global ed. Harlow: Pearson.
Morrison, J. (2020). The Global Business Environment. 5th ed. London: Macmillan International Higher Education/Red Globe Press.
Sternad, D. & Döring, T. (eds.) (2011). Handbook of Doing Business in South East Europe. Basingstoke: Palgrave Macmillan.

• Lecture and discussion
  
• Self-study
  
• Group work
  
• Country case studies

Integrated module exam (immanent examination character):

• Final written exam (70%)
  
• Case study preparation (30%)