2020/2021
Trade Policies of Countries/Regional Blocs and Competitiveness of Companies
Category 'Best Course for Career Development'
Category 'Best Course for Broadening Horizons and Diversity of Knowledge and Skills'
Category 'Best Course for New Knowledge and Skills'
Type:
Optional course
Delivered by:
Department of Trade Policy
When:
3 module
Language:
English
ECTS credits:
3
Contact hours:
60
Course Syllabus
Abstract
In the framework of the global economy, the main role in international economic relations is exercised by multinational companies (MNCs). As major economic agents, MNCs execute global strategies in order to integrate national, regional and global markets. New knowledge fields, technological advances, development of the financial area are considered to be the cause of growing competitiveness among the MNCs, and nowadays the very essence of such competitiveness is changing. National trade policies remain the most crucial external factors that determine the success of companies on different national markets but digitalization becomes the driving force of all economic activities. This requires MNCs to fundamentally transform their strategies and operations. These factors define the logic of this course. Crucially, in recent decades, Russian companies began to enter external markets using foreign direct investment and taking control of foreign enterprises. The course includes real case studies for new entry strategies of Russian and EU companies into markets of regional groups.
Learning Objectives
- to familiarize students with trade and economic relations between Russia/Eurasian Economic Union and their major partners (countries and regional groups)
- to create systematized vision of concept and levels of competitiveness
- to elaborate skills for arguing one’s points of view on topics of global economic governance 4.0 (including E-commerce)
- to develop initial skills for adapting foreign economic policies (including trade policies) to the global economic environment (coronavirus spread, oil prices, digitalization, etc.)
Expected Learning Outcomes
- Awareness: of current problems that enterprises are facing on national, regional and global markets, including consequences of coronavirus spread and oil prices.
- Knowledge: of economic environment for foreign companies on national, regional and global markets; main approaches to the development and implementation of trade policy instruments; tools of government and business interaction; system of multilateral agreements and commitments for domestic producers support.
- Ability: to use and analyse statistical and economic data; use references, yearbooks and professional literature in the field of trade policy and levels of competitiveness
- Skills: to critically evaluate analytical and scientific materials on the given issues and find options for possible solutions related to entry of Russian companies onto foreign markets and standing up national position in the WTO dispute settlement system.
Course Contents
- Global Economic Environment: 2020 crisis and beyondInternational economic relations and global economic governance. Turbulent times for world economy and international trade. Role of multinational companies (MNCs). Modernization of the Russian economy. Fourth industrial revolution – Industry 4.0. Digitalization of the world economy. Coronavirus (Covid-19) spread and oil prices in 2020
- International trade: theory and practiceInternational trade theories: from A. Smith and D. Ricardo to modern concepts. General characteristics of trade policy instruments. Consequences of applying trade policy instruments for business and international trade. World Trade Organization. Russia’s accession to the WTO. Evolution of integration on the post-soviet space.
- Interaction between government and business on trade policy regulationsMethodology of government and business interaction analysis. The role of the government in the competitive advantage creation and development. Domestic producers support and Export promotion.
- Applied methods and tools for state support assessmentEvolution of the theoretical approach to the government and business interaction. Quantative and detailed trade policy information and analysis. Industry SWOT analysis from the government support point of view. Trade Policy Analysis and the support assessment.
- Concept and levels of competitivenessTheoretical and practical explanations of the term ‘Competitiveness’. Levels of competitiveness: world, country, region, industry, company, product. M. Porter and his role in developing competitiveness theories. Factors of international competitiveness. Existing ratings of global competitiveness.
- International competitiveness in the framework of trade policyInterconnectedness of trade policy and business performance of national MNCs. Participation of national and international business in creating trade policy agenda. Main trends in trade policy throughout different countries and regional blocs. Role and importance of international economic organizations and agreements for doing business in Europe, Asia, North America and other regions.
- MNCs internationalization strategies and global value chains (GVCs)MNCs and business internationalization strategies. Ways of going global for a company. Economic and regulatory conditions for doing business on EU, EAEU, USMCA, ASEAN and other markets. Modifications of global supply chains (GVCs).
- Business adaptation to economic environment and trade policyInfluence of national trade policy on the interests and goals of national business. and conditions for foreign business performance. In-house and external instruments of business management: strategic decisions, supply chains, marketing, GR. Shifts in global competitiveness ratings.
- Trade wars and regional disintegrationUS-China trade war. US economic sanctions against Iran: Reaction of European Business. Trade and financial sanctions against Russia. UK withdrawal from the EU (Brexit): Risks and opportunities for businesses.
- Digitalization in international businessDigitalization. Additive and virtual reality (VR) technologies. National strategies regarding digital economy and e-commerce. Prospects of multilateral regulation of digital trade.
Assessment Elements
- Participation in the discussions and responses during online classes
- Power point presentation on chosen topics
- Tests on each topic
- Final test
Bibliography
Recommended Core Bibliography
- Architects of austerity : international finance and the politics of growth, Major, A., 2014
- Global political economy : understanding the international economic order, Gilpin, R., 2001
- Globalization in an age of crisis : multilateral economic cooperation in the twenty-first century, , 2014
- Interest groups and trade policy, Grossman, G. M., 2002
- International economics : theory & policy, Krugman, P. R., Obstfeld, M., 2009
- International economics : theory and policy, Krugman, P. R., 2015
- The competitive advantage of nations, Porter, M. E., 1990
- Англо-русский глоссарий торговой политики, , 2014
- Глобальные институты регулирования: Учебник / Под ред. Зуева В.Н. - М.:Магистр, НИЦ ИНФРА-М, 2016. - 576 с.: 60x90 1/16. - (Бакалавриат) (Переплёт 7БЦ) ISBN 978-5-9776-0423-9 - Режим доступа: http://znanium.com/catalog/product/548590
- Конкуренция. Инновации. Конкурентоспособность : учеб. пособие для вузов, Философова, Т. Г., 2008
- Международная торговая политика : учебник для бакалавриата и магистратуры, Хасбулатов, Р. И., 2015
- Многосторонняя торговая система (1947-2014 гг.) и участие в ней России : учебное пособие, Портанский, А. П., 2015
- Основы торговой политики и правила ВТО, Данильцев, А. В., 2005
Recommended Additional Bibliography
- Applied methods for trade policy analysis : a handbook, , 1997
- Global political economy : theory and practice, Cohn, T. H., 2005
- Global political economy, , 2014
- Маркетинг новых товаров : современные модели управления: учеб. пособие, Философова, Т. Г., 2007
- Торговая, таможенная и промышленная политика России со времен Петра Великого до наших дней, Витчевский, В., 2017