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Business Opportunities and Risks in a Globalized Economy

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IE Business School

Business Opportunities and Risks in a Globalized Economy

16 ratings

Course 3 of 3 in the Specialization Globalization, Economic Growth and Stability

This is the last of the three courses part of the Globalization, Economic Growth and Stability Specialization.¨Business Opportunities and Risks in a Globalized World¨ is the the 3rd and final course of the ¨Globalization, Economic Growth and Stability¨ Specialization taught by IE Business School's Professor Gayle Allard. This course is designed to help an investor, businessperson or economist approach macroeconomic, institutional and international data and derive information from the indicators that point to the types of opportunities and risks that they present. Students will gain practice by handling the data of some of the largest economies in the world –the United States, Japan, the European Union, China and India—and “reading the story” of their economies from their data, yielding surprisingly profound conclusions about their present and future. The course is the third in a series for the specialization but it is also a stand-alone course for anyone who wants practice in practical macroeconomics. This course includes 4 modules, each one deep-diving into the macroeconomic circumstances that have been brought up in the recent history of four key regions: the USA, Japan, Europe, and China and India. Students will analyze the ways in which international economies relate with one another, the benefits of trade and migration and economic development and how it occurs, among other themes. Professor Allard takes overarching macroeconomic theory and turns it into a practical tool for those interested in the opportunities and risks of investment and doing business in each of the four regions covered.

From the lesson

India and China: Economic Development, How it Occurs, and the World's Upcoming Giants

The final segment of the course turns toward the two emerging giants, India and China, and contemplates their past and future development strategies and thee risks and opportunities that they entail. Development itself is discussed, and how it occurs, and the strategies that nations may choose. The different components of GDP (C, I, G and X-M) are compared between India and China over a long period, to see what have been the different drivers for growth in the two countries over time. Special attention is paid in this section to institutional indicators, which are very different from developed countries, and the divergent demographic trends in the two countries; and the implications of those differences for the future.

Risks and Opportunities in India and China8:02

Course Wrap-Up3:46

Meet the Instructors

Gayle Allard
Professor
Economics

The idea of this course

has been for you to look at the main economies in the world;

and just by looking at their data,

learn some things about them that could be important for an investor to know.

Now, you may be interested in this because you plan to invest.

Because from a business perspective,

you'd like to know the the countries that are attractive for

investment and what sorts of risks and opportunities there are.

Or you may just want to know what these countries are like,

to see what their story is.

How they've grown, how they've developed,

what kinds of perils or pitfalls are along their path?

And again, you can do this by reading the macro data,

and so that's what I've tried to model for you.

How you can look at the macro data of a country,

see what its story is,

see where its problems lie,

and where its advantages lie,

and make some conclusions about that country,

about the nature of it and its growth strategies,

and maybe about its future.

I would be happy if you could then take

these tools and apply them to other countries on their own.

And in this course, in your homeworks,

I've pointed you to a lot of different sources of data that you can use to do this.

Once you know the concepts,

you find the data and you read it,

and you think about what kind of country this is and what potential it offers,

and what problems it offers.

This course was to build on the two other courses in this specialization.

The first one, understanding economic policy making,

sets out all of the different macro principles that can guide us through a macro-economy,

the relationships among variables,

and what policy can do to influence the economy,

both fiscal and monetary.

The second course in the specialization which is trade, exchange rates,

and migration in a globalized world,

goes outside of the macro-economy and says, okay,

what happens when countries trade,

what causes currencies to go up or down,

what is the real story on migration,

what about current accounts.

And again, looking at the data and thinking about things

that countries would need to change or problems that

countries face because of this set of indicators and of course making

an argument in favor of globalization which has so many benefits for the world,

for all countries that engage in it.

And finally, we wrap up that three course specialization with this course.

Which could be practical economy in a sense.

Looking at these countries,

figuring out how the principles of the earlier courses apply,

and what I can know

just by having that experience and by putting the data in front of myself.

What I can know. I hope that you can take away from this course,

a toolbox and especially from the entire specialization,

a toolbox of tools that will make you very literate and very

fluent in terms of understanding countries and reading their stories from their data.

And it should make you autonomous going

forward where you can actually analyze a country that comes

across your desk at work that comes to your attention in the papers

and think about what risks and opportunities they present based on macroeconomic,

and international theory, and the practice we've gained in this third course.

So thank you for being with us for this course,

and for those of you who were with us throughout the specialization,

you are very well equipped now and I hope

it changes your way of seeing the world in the future.

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