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.

Traffic lights

Read about what's good

what should give you pause

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

Foundations in global economic strategy

According to learners, this course provides a solid foundation in understanding the historical context and complexities of the global economy and globalization. Many find the content well-structured and the lectures clear. However, some reviewers suggest that the course can be quite theoretical and may require prior knowledge in economics or international trade to fully grasp certain concepts. While it offers a strong overview, some feel it lacks practical application or deeper insight into current trends. The course seems best suited as an introduction for those new to the subject or looking for a historical perspective.

Course is logically organized.

"The course is well-structured, with modules building logically upon each other from history to current issues."

"I appreciated the clear progression through the syllabus topics."

"The organization of the content made it easy to follow the flow of the course."

Instruction is generally easy to follow.

"The lectures are delivered clearly and are easy to understand, making complex topics accessible."

"I found the instructor's explanations to be concise and helpful throughout the modules."

"The professor does a good job explaining the core ideas."

Provides a good introduction and overview.

"This course provides a solid foundation for understanding how the global economy works and its historical evolution."

"It's a great introduction to the subject of global strategy, covering key concepts clearly."

"I gained a good overview of the forces driving globalization and its implications."

Some examples feel out of date.

"Some of the examples and discussions, particularly those from the late 90s perspective, feel a bit dated in the current global landscape."

"While the historical context is valuable, I was hoping for more updated examples relevant to the 2020s."

"The course framework is solid, but the specific case studies could use refreshing."

Helpful to have economics background.

"Learners without a background in economics or international trade might find some modules challenging."

"I struggled a bit with the concepts presented, likely because I lacked prior knowledge in the field."

"Having some basic economics understanding is definitely a plus for this course."

Content is academic, less focus on practice.

"The course felt very theoretical, focusing heavily on historical analysis and economic models rather than practical business strategies."

"While informative, I wish there had been more focus on how these concepts apply to real-world business decisions today."

"It's more academic than practical. Don't expect direct, actionable business advice."

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

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

Browse courses on International Trade

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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

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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

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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

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

Browse courses on International Trade

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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

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Explore the World Bank's Open Data Platform

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

Browse courses on International Trade

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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

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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

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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

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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

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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

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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

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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.

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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.

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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.

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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.

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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.

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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