Global Strategy I: How The Global Economy Works from Coursera

Starting in the late 1990s, “globalization” became a buzzword to describe the apparent integration of markets in the world economy. Many authors and pundits claimed that the world was converging towards a market-friendly democratic place, while gurus and consulting firms were rapidly producing formulae and advice on how to make profits out of the global economy. Decades later, new realities show that globalization does not necessarily mean political, cultural, and economic convergence and that, in fact, forces against it are strong.

This course seeks to help you understand the forces of globalization and how cross-cultural management and the relationship of a multinational organization to various host countries is becoming more and more critical in today’s global economy. This course begins with the discussion of these issues and global relationships and delves into a deeper understanding of business strategy in today’s global business marketplace.

You will be able to:

• Understand how we got to the present moment of globalization and why it matters

• Understand the complexities of the current globalization, recognizing not all countries are the same

• Evaluate the effects of international trade regulations on international business

• Evaluate when and why companies operate as multinationals

This course is part of Gies College of Business’ suite of online programs, including the iMBA and iMSM. Learn more about admission into these programs and explore how your Coursera work can be leveraged if accepted into a degree program at https://degrees.giesbusiness.illinois.edu/idegrees/.

What's inside

Syllabus

Course Orientation

You will become familiar with the course, your classmates, and our learning environment. The orientation will also help you obtain the technical skills required for the course.

Module 1: How Did We Get Here? Why Does It Matter?

The current global world is not unique nor is it stable. The world has been more globally integrated in the past than in the present times. Many emerging economies are actually re-emerging from a not-so-distant past when they dominated the global economy. An understanding of these processes will allow us to conduct sophisticated analyses of the global economy that take into account political and economic issues as well as historical processes.

Module 2: The Big Disappointment: The World Did Not Converge

During the 1990s, many analysts forecasted a global cultural, economic, and political convergence. Reality shows that this did not happen. Business people engaged in global activities need to understand how to analyze the differences between countries. This module provides tools for this type of analysis and ways to determine how they affect businesses.

Module 3: Why We Trade and How We Do It

The most basic way by which corporations develop international operations is through trade. These operations are determined by the way nations arrange trade with each other. In this section we explore what determines what and how countries trade with each other, the mechanisms regulating this trade, and the way corporations adapt to them.

Module 4: Why Do We Have Multinationals? What Determines the Type of Multinational?

You don’t need to be a multinational to succeed in the business world. In fact, not all successful firms become multinational and not all multinationals are successful. This module explains what the main elements are in determining whether firms become multinational or not, what characteristics they exploit when going abroad, and where their competitive advantage is.

Good to know

Know what's good

, what to watch for

, and possible dealbreakers

Introduces students to the concept of globalization and its impact on businesses

Provides practical knowledge on how to operate a multinational business in today's global market

Covers a wide range of topics relevant to global business, including international trade, regulation, and strategy

Taught by experienced instructors with expertise in global business

Part of the Gies College of Business' suite of online programs, including the iMBA and iMSM

Requires students to have a basic understanding of business concepts

Reviews summary

Global strategy i: a highly engaging global economy course

Learners say this is a highly engaging course on global strategy and the global economy. Marcelo Bucheli is a brilliant lecturer who explains concepts clearly. The assignments are engaging and the course provides significant insights into globalization, trade theories, and the OLI Framework. Students largely recommend it to beginners and anyone who wants to learn about the global economy.

Challenging

"a very good and challenging experience"

Very Detailed

"This course is very details. Thank you to Mr.Marcelo. All case Was explain very good "

"The course is very interesting and insightful."

Clearly Explained Concepts

"I'm glad I stuck with the course after module 1 which was covering historical information. Modules 2 to 4 I found very interesting. I also liked how the Professor explains things clearly and in an easier manner without having to sound like an intellectual, or speaking in a way that needs to be decoded like most professors do. "

"The way he relates the real world situations with the global strategy theories and concepts is something else."

"Marcelo is great, very interesting course, looking forward to Part II"

Significant Insights

"This course was so interesting and insightful that I have acquired an essential understanding of the global strategy..."

"After completing the course, I managed to obtain such significant insights about globalization, CAGE Analysis, trade theories and OLI Framework."

"It is a very informative program. Thank you for everything. "

Highly Engaging

"Learned a lot from this course."

"I'm glad I stuck with the course after module 1 which was covering historical information. Modules 2 to 4 I found very interesting."

"Marcelo is great, very interesting course, looking forward to Part II"

Brilliant Lecturer

"Marcelo is great, very interesting course, looking forward to Part II"

"This course was so interesting and insightful that I have acquired an essential understanding of the global strategy... The course instructor, Marcelo Bucheli, has been so amazing from the start to the end."

"I think Mr. Buchelli is a brilliant lecturer. Pass 80% in exam in coursera with my memory never as easy as this before."

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 Global Strategy I: How The Global Economy Works with these activities:

Review Key Concepts in International Trade Theory

Show steps

Strengthen your understanding of fundamental theories in international trade, including comparative advantage, protectionism, and free trade.

Browse courses on International Trade

Show steps

Review course materials on international trade theory.
Read additional articles or books on the topic.
Complete practice questions or exercises to test your understanding.

Contribute to the Open SDG Platform

Show steps

Make a practical contribution to data-driven monitoring of the United Nations Sustainable Development Goals by contributing to the Open SDG Platform.

Browse courses on Sustainable Development

Show steps

Identify an area where you can contribute, such as data collection, analysis, or visualization.
Join the Open SDG community and connect with other contributors.
Follow the platform's guidelines and contribute your work.

Calculate Tariffs and Quotas

Show steps

Solve practice problems related to calculating tariffs and quotas to strengthen your understanding of their impact on international trade.

Browse courses on International Trade

Show steps

Review the formulas for calculating tariffs and quotas.
Solve problems involving different types of tariffs and quotas.
Analyze the impact of tariffs and quotas on consumer and producer surplus.

Four other activities

Expand to see all activities and additional details

Show all seven activities

Explore the World Bank's Open Data Platform

Show steps

Review the World Bank's Open Data Platform to supplement your understanding of global trade and development patterns.

Browse courses on International Trade

Show steps

Visit the World Bank's Open Data Platform website.
Explore the datasets available, focusing on those related to international trade.
Download and analyze relevant datasets using statistical software or tools.

Discuss Case Studies on the Challenges of Multinational Corporations

Show steps

Engage in discussions with peers to analyze case studies that highlight the challenges and complexities faced by multinational corporations operating in different cultural and economic environments.

Browse courses on Multinational Corporations

Show steps

Select case studies that focus on the challenges faced by multinational corporations.
Read and analyze the case studies, identifying key issues and challenges.
Participate in peer discussions, sharing insights and perspectives.
Develop recommendations for how multinational corporations can address the challenges they face.

Review 'Globalization and its Discontents' by Joseph Stiglitz

Show steps

Gain insights into the complexities of globalization and its impact on economies and societies from a renowned economist.

View The Road to Freedom on Amazon

Show steps

Read the book, paying attention to Stiglitz's arguments and evidence.
Summarize the main points of the book in your own words.
Critically evaluate Stiglitz's arguments and consider alternative perspectives.

Develop a Marketing Plan for a Multinational Product Launch

Show steps

Create a comprehensive marketing plan that outlines a go-to-market strategy for launching a product in multiple countries, considering cultural differences and market-specific regulations.

Browse courses on Multinational Corporations

Show steps

Conduct market research to understand the target markets.
Develop a marketing strategy that aligns with the target markets' cultural and economic characteristics.
Create a marketing budget and timeline for the product launch.
Implement the marketing plan and monitor its effectiveness.

Career center

Learners who complete Global Strategy I: How The Global Economy Works will develop knowledge and skills that may be useful to these careers:

Multinational Business Consultant

Multinational Business Consultants are responsible for providing advice to businesses on how to operate successfully in multiple countries. This course can help you develop the skills necessary to understand the challenges and opportunities of managing a multinational business, including the different political, cultural, and economic environments that businesses must navigate.

See salaries and explore the career path for Multinational Business Consultant

International Business Manager

International Business Managers oversee the day-to-day operations of a company's international business. This course will help equip you with the knowledge and skills needed to manage the complex challenges of international business, including managing cross-cultural teams, understanding international trade regulations, and developing effective global strategies.

See salaries and explore the career path for International Business Manager

Global Supply Chain Manager

Global Supply Chain Managers oversee the flow of goods and services from suppliers to customers across international borders. This course will help you develop the skills needed to manage the complex challenges of global supply chains, including the different transportation modes, customs regulations, and international trade agreements that affect the movement of goods.

See salaries and explore the career path for Global Supply Chain Manager

International Trade Specialist

International Trade Specialists help businesses navigate the complex world of international trade. This course will help equip you with the knowledge and skills needed to understand the different types of trade agreements, the regulations governing international trade, and the strategies for successfully exporting and importing goods and services.

See salaries and explore the career path for International Trade Specialist

International Economist

International Economists use their understanding of global economics to consult with governments, international organizations, and businesses to formulate policies and strategies that affect the international economy. While this course does not explicitly cover economic policy, it will provide you with the foundation necessary to understand and analyze how global economics can affect countries' fiscal and monetary policies. This is an important consideration for economists seeking to make recommendations on economic policy.

See salaries and explore the career path for International Economist

International Marketing Manager

International Marketing Managers develop and execute marketing campaigns for products and services in international markets. This course will help you develop the skills needed to understand the different cultural, economic, and political factors that affect marketing campaigns in different countries.

See salaries and explore the career path for International Marketing Manager

International Public Relations Manager

International Public Relations Managers manage the public image of organizations in international markets. This course will help you develop the skills needed to understand the different cultural, economic, and political factors that affect public relations campaigns in different countries.

See salaries and explore the career path for International Public Relations Manager

International Human Resources Manager

International Human Resources Managers oversee the human resources function for companies operating in multiple countries. This course will help you develop the skills needed to understand the different labor laws, cultural norms, and employee benefits systems that affect human resources management in different countries.

See salaries and explore the career path for International Human Resources Manager

International Development Specialist

International Development Specialists work with governments, businesses, and non-profit organizations to promote economic and social development in developing countries. This course will help you develop the skills needed to understand the different economic, political, and social factors that affect development in different countries.

See salaries and explore the career path for International Development Specialist

Foreign Service Officer

Foreign Service Officers represent the United States government in foreign countries. This course will help you develop the skills needed to understand the different political, economic, and cultural factors that affect U.S. foreign policy in different countries.

See salaries and explore the career path for Foreign Service Officer

International Lawyer

International Lawyers advise clients on legal issues related to international business, trade, and investment. This course will help you develop the skills needed to understand the different legal systems and regulations that affect international business in different countries.

See salaries and explore the career path for International Lawyer

Foreign Correspondent

Foreign Correspondents report on international news and events for news organizations around the world. This course will help equip you with the knowledge and skills needed to understand the different political, economic, and cultural factors that affect news reporting in different countries.

See salaries and explore the career path for Foreign Correspondent

International Educator

International Educators teach about different cultures and languages, and promote international understanding. This course will help you develop the skills needed to understand the different cultural, economic, and political factors that affect education in different countries.

See salaries and explore the career path for International Educator

Cultural Anthropologist

Cultural Anthropologists study the behavior, beliefs, and values of different cultures. This course will help you develop the skills needed to understand the different cultural factors that affect international business, trade, and investment.

See salaries and explore the career path for Cultural Anthropologist

Historian

Historians study the past to understand the present. This course will help you develop the skills needed to understand the historical factors that have shaped the global economy and the different political, economic, and cultural factors that affect international business today.

See salaries and explore the career path for Historian