Business Opportunities and Risks in a Globalized Economy from Coursera

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.

What's inside

Syllabus

The USA: GDP, Inflation and Unemployment; Growth and Gaps: Reviewing the Basic Relationships.

The US economy is not only the world´s largest, but also one of the most free-market developed economies; and its data is abundant and excellent. It provides an ideal opportunity for students to review the basic macroeconomic and policy variables and relationships, and to identify these or detect their absence in the real world. In the process, they can make the first steps toward determining how “normal” or especially good situations provide business opportunities and how departures from the rules point up situations that are risky for businesses operating in that country.

Japan: Current Accounts and Currencies: International Economics Relationships

Japan, also one of the world´s giants, has followed a particular growth and development strategy which is reflected in its macroeconomic and international data. We will explore in this segment Japan´s data, in contrast to the United States, and find the unique policy challenges that this strategy presents for Japan, and the opportunities and risks that it implies for investors.

The European Integration Experiment: The Benefits of Trade and Migration

The EU is the world´s largest trading area and if it were a country, it would be one of the world´s largest. European nations opted for an intense project of economic integration in the postwar period which has incorporated 28 nations, but one of them, the UK, is in the process of leaving. We will discuss in this section how this type of integration conditions growth, crisis and recovery, and the mechanisms that countries with a single monetary policy and a single currency have (and do not have) to adjust their economies. What did we learn from the Eurozone crisis and the vote by so many UK citizens to leave Europe, and what are the implications for businesses operating in this region?

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.

Capstone

Good to know

Know what's good

, what to watch for

, and possible dealbreakers

Suitable for economists interested in practical instruction in global trade, migration, and economic development

Recommended for investors and businesspeople seeking insight into economic prospects and hazards

Offers a beginner-friendly introduction to basic macroeconomic connections and policy variables

Utilizes case studies of major economies like the US, Japan, the EU, China, and India to illustrate economic concepts

Guided by Professor Allard, an expert in macroeconomic theory and international economics

Reviews summary

Well-received globalization course

According to students, this course on global economics is well-received and insightful. Learners say it has engaging assignments, knowledgeable instructors, and practical applications that are easy to follow even for those without a background in economics. Students especially appreciate Professor Gayle Allard's teaching style and expertise.

Clear and Accessible

"Well taught to the extent that even a person without an economic like me could understand the economics around me and the globe."

"She makes complex economic concepts. theories, and even computations easy to understand."

Interactive and Educational

"Excellent Learning experienceHighly knowledgable and resourceful instructorGood palnning of the courseTricky Assignments"

"Peer graded assignments are a problem"

Relevant and Applicable

"A very simple course with great practical applications!"

"Practical and easy to follow for non-economist."

"It helped me a lot to understand different economies of the world."

Well-respected Instructor

"Professor Gayle Allard is the best!"

"Gayle Allard is my top favorite lecturer so far."

"The way she broke complicated issues in basic supply demand equations and explained them, really good job."

Activities

Be better prepared before your course. Deepen your understanding during and after it. Supplement your coursework and achieve mastery of the topics covered in Business Opportunities and Risks in a Globalized Economy with these activities:

Attend a conference or webinar on globalization and economic growth

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Connect with professionals and gain insights into the latest developments in the field.

Browse courses on Globalization

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Identify and attend a conference or webinar on globalization and economic growth.

Read: 'The Economics of Growth' by Philippe Aghion and Peter Howitt

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Expand knowledge on the theory of economic growth and its application in developing countries.

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Read chapters 1-5 of the book.

Practice questions on macroeconomic indicators

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Reinforce understanding of key macroeconomic indicators and their relationships.

Browse courses on GDP

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Solve practice questions on GDP, inflation, and unemployment.

Five other activities

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Show all eight activities

Develop a business opportunity and risk analysis plan

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Apply concepts of macroeconomic data analysis to a real-world business scenario.

Browse courses on Economic Analysis

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Identify a potential business opportunity or risk.
Gather and analyze relevant macroeconomic data.
Determine the potential impact on the business.
Develop a mitigation plan for potential risks.

Tutorial: Using real-time data to identify trading opportunities

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Enhance understanding of international economic data and its application in investment decisions.

Browse courses on International Economics

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Follow a guided tutorial on using real-time economic data.
Identify potential trading opportunities based on the data.

Write a blog post on the role of international trade in economic development

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Solidify understanding of the benefits and challenges of international trade and its impact on developing economies.

Browse courses on International Trade

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Research the topic of international trade and economic development.
Write a well-structured blog post on the subject.

Compile a database of macroeconomic indicators for selected countries

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Build a valuable resource for future research and analysis on macroeconomic trends.

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Identify the macroeconomic indicators to be included in the database.
Collect data from reputable sources for selected countries.
Organize and format the data in a structured database.

Contribute to an open-source project on economic data visualization

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Gain practical experience in handling economic data and contribute to the open-source community.

Browse courses on Economic Data

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Identify an open-source project related to economic data visualization.
Contribute to the project by adding a new feature or improving the code.

Career center

Learners who complete Business Opportunities and Risks in a Globalized Economy will develop knowledge and skills that may be useful to these careers:

Senior Economist

Senior Economists are responsible for leading teams of economists and conducting complex economic research. They need a strong understanding of macroeconomic theory and data analysis techniques. The course "Business Opportunities and Risks in a Globalized Economy" can be useful for those aspiring to become Senior Economists, as it provides a comprehensive overview of macroeconomic theory and its application to real-world economic issues. The course's focus on data analysis and interpretation can also help Senior Economists make informed decisions about economic policy.

See salaries and explore the career path for Senior Economist

Economist

Economists are responsible for studying and analyzing economic data to make informed predictions about economic trends. They need a strong understanding of macroeconomic theory and data analysis techniques. The course "Business Opportunities and Risks in a Globalized Economy" can be useful for those aspiring to become economists, as it provides a comprehensive overview of macroeconomic theory and its application to real-world economic issues. The course's focus on data analysis and interpretation can also help economists make informed predictions about economic trends.

See salaries and explore the career path for Economist

Chief Economist

A Chief Economist is responsible for overseeing the economic research and analysis of a company or organization. This role requires a strong understanding of macroeconomic principles and data analysis techniques. The course "Business Opportunities and Risks in a Globalized Economy" can be particularly useful for those aspiring to become Chief Economists, as it provides a comprehensive overview of macroeconomic theory and its application to real-world business scenarios. The course's focus on data analysis and interpretation can also help Chief Economists make informed decisions based on economic indicators and trends.

See salaries and explore the career path for Chief Economist

Market Research Analyst

Market Research Analysts are responsible for conducting research on market trends and consumer behavior. They need a strong understanding of economic principles and data analysis techniques. The course "Business Opportunities and Risks in a Globalized Economy" can be useful for those aspiring to become Market Research Analysts, as it provides a comprehensive overview of macroeconomic theory and its application to real-world business scenarios. The course's focus on data analysis and interpretation can also help Market Research Analysts make informed decisions about market trends and consumer behavior.

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Portfolio Manager

Portfolio Managers are responsible for managing investment portfolios for clients. They need a strong understanding of financial markets and economic trends. The course "Business Opportunities and Risks in a Globalized Economy" can be beneficial for Portfolio Managers as it provides insights into the macroeconomic factors that influence financial markets. The course's focus on data analysis and interpretation can also help Portfolio Managers make informed investment decisions.

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Risk Manager

Risk Managers are responsible for identifying and managing risks for companies and organizations. They need a strong understanding of financial markets and economic trends. The course "Business Opportunities and Risks in a Globalized Economy" can be beneficial for Risk Managers as it provides insights into the macroeconomic factors that influence financial markets. The course's focus on data analysis and interpretation can also help Risk Managers make informed decisions about risk management strategies.

See salaries and explore the career path for Risk Manager

Financial Analyst

Financial Analysts are responsible for evaluating and recommending investments. They need a strong understanding of financial markets and economic trends. The course "Business Opportunities and Risks in a Globalized Economy" can be beneficial for Financial Analysts as it provides insights into the macroeconomic factors that influence financial markets. The course's focus on data analysis and interpretation can also help Financial Analysts make informed investment decisions.

See salaries and explore the career path for Financial Analyst

Quantitative Analyst

Quantitative Analysts are responsible for developing and using mathematical and statistical models to analyze financial data. They need a strong understanding of financial markets and economic trends. The course "Business Opportunities and Risks in a Globalized Economy" can be beneficial for Quantitative Analysts as it provides insights into the macroeconomic factors that influence financial markets. The course's focus on data analysis and interpretation can also help Quantitative Analysts develop and use more accurate and reliable models.

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Investment Banker

Investment Bankers are responsible for advising companies on mergers and acquisitions, capital raising, and other financial transactions. They need a strong understanding of financial markets and economic trends. The course "Business Opportunities and Risks in a Globalized Economy" can be beneficial for Investment Bankers as it provides insights into the macroeconomic factors that influence financial markets. The course's focus on data analysis and interpretation can also help Investment Bankers make informed decisions about financial transactions.

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Strategy Consultant

Strategy Consultants are responsible for advising companies on business strategy and operations. They need a strong understanding of business principles and economic trends. The course "Business Opportunities and Risks in a Globalized Economy" can be beneficial for Strategy Consultants as it provides insights into the macroeconomic factors that influence businesses. The course's focus on data analysis and interpretation can also help Strategy Consultants make informed decisions about business strategy.

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Financial Planner

Financial Planners are responsible for providing financial advice to individuals and families. They need a strong understanding of financial markets and economic trends. The course "Business Opportunities and Risks in a Globalized Economy" may be useful for Financial Planners, as it provides an overview of macroeconomic factors that influence financial markets. The course's focus on data analysis and interpretation can also help Financial Planners make informed decisions about financial planning.

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Management Consultant

Management Consultants are responsible for advising businesses on management practices and operations. They need a strong understanding of business principles and economic trends. The course "Business Opportunities and Risks in a Globalized Economy" may be useful for Management Consultants, as it provides an overview of macroeconomic factors that influence businesses. The course's focus on data analysis and interpretation can also help Management Consultants make informed decisions about management practices.

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Data Scientist

Data Scientists are responsible for collecting, analyzing, and interpreting data. They need a strong understanding of statistics and data analysis techniques. The course "Business Opportunities and Risks in a Globalized Economy" may be useful for Data Scientists, as it provides an overview of macroeconomic data and its analysis. The course's focus on data analysis and interpretation can also help Data Scientists develop and use more accurate and reliable models.

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Operations Research Analyst

Operations Research Analysts are responsible for developing and using mathematical and statistical models to improve business operations. They need a strong understanding of statistics and data analysis techniques. The course "Business Opportunities and Risks in a Globalized Economy" may be useful for Operations Research Analysts, as it provides an overview of macroeconomic data and its analysis. The course's focus on data analysis and interpretation can also help Operations Research Analysts develop and use more accurate and reliable models.

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Policy Analyst

Policy Analysts are responsible for evaluating and recommending public policies. They need a strong understanding of economics and public policy. The course "Business Opportunities and Risks in a Globalized Economy" may be useful for Policy Analysts, as it provides an overview of macroeconomic theory and its application to real-world economic issues. The course's focus on data analysis and interpretation can also help Policy Analysts make informed decisions about public policy.

See salaries and explore the career path for Policy Analyst