Study Guide

Objectives (course unit)

National economies are an integral part of the global economy. Issues and events in global economy have strong influence upon the function of national economy.
The course aims at familiarizing the students with global institutions, agreements, events, trends and their relationship to the national economy.

After completing the course, students will be able to:
• Understand the benefits of specialization and the impact on trade and investment
• Know trade barriers and their background factors
• Understand exchange and interest rate mechanisms
• Conceptualize the role of global organizations
• Understand trade liberalization and regional economic integration
• Relationships among national economy, national debt and the international rating agencies

Content (course unit)

• What are the benefits of global trade?
• What are the main international trade theories?
• What are the effects of trade barriers on national economies?
• What are the reasons behind exchange and interest rate volatility?
• What is the role of economic integration in world trade?
• How the rating agencies influence national borrowing rate?

Assessment criteria, satisfactory (1-2) (course unit)

The student can give the fundamentals for the question: What is global economics about? He/she recognises the difference between micro and macro economy and is able to name essential factors in the field of macro economy. He/she manages to identify the factors that affect an economy. The student can give and receive feedback.

Assessment criteria, good (3-4) (course unit)

The student applies the connections between global economic factors like GDP, GNP, inflation, interest rates and other relevant macro-economic factors. He/she knows the relevant terms and connections and can explain basic cause-effect relationships. He/she sees the importance of global trade and adopts various macro theories. The student gives and receives constructive feedback and develops his/her skills for co-operation.

Assessment criteria, excellent (5) (course unit)

The student analyses and translates the connections within global economy factors. He/she can generalise complicated theories by seeing the relevancy behind the economic signals. He/she can explain economic fluctuations and reasons behind them. He/she justifies outcome for various global assumptions, formulating the impacts of GDP, inflation, employment and other factors related. He/she finds the links between global economy factors by evaluating the information available. The student uses feedback to grow professionally, he/she develops creative and flexible mindset and works in a responsible manner.

Location and time

Tampere, TAMK Kuntokatu

Exam schedules

The assessment schedule and strategy will be informed during the first class.

Assessment methods and criteria

The course will be assessed with both course work assessments and a final summative assessment at the end of the course.

Assessment scale

0-5

Teaching methods

Students will be working individually, in pairs and in small groups as part of a collaborative learning community.
Face to face classes with additional online activities as required.
Teaching strategies will include readings, discussion, facilitation, group and individual work, synchronous and asynchronous activities. Active participation and collaboration will be essential. Students will be expected to demonstrate their learning by presenting work in writing, visually, orally and in presentations.

Learning materials

Materials and resources provided by the lecturer in the Moodle implementation.

Student workload

The course is 3cr (27h each, total 81 hours of student work) which is based on lectures, team working and individual studying.

Content scheduling

As scheduled in Peppi/Pakki and informed in the first class.

Completion alternatives

Not available, the course is based on contact teaching

Practical training and working life cooperation

N/A

International connections

An international implementation.

Assessment criteria - fail (0) (Not in use, Look at the Assessment criteria above)

The student does not meet the evaluation criteria for 1.

Assessment criteria - satisfactory (1-2) (Not in use, Look at the Assessment criteria above)

Students demonstrate a basic understanding of the key concepts of global economics and can describe ideas in simple terms.

Assessment criteria - good (3-4) (Not in use, Look at the Assessment criteria above)

Students demonstrate a good understanding of the key concepts of global economics and are able to describe, explain and give practical examples of the concepts introduced during the course. This includes understanding the inter-relational aspects of economics and the limitations of the discipline.

Assessment criteria - excellent (5) (Not in use, Look at the Assessment criteria above)

Students demonstrate a thorough understanding of all the key concepts of global economics and are able to describe, explain and give practical examples of the concepts introduced during the course. This includes understanding the inter-relational aspects of economics and the limitations of the discipline. In addition this exception student will be able to synthesize and analyze contemporary events and apply what they have learned to current affairs and see the relations between economics and social, cultural, historic and political contexts.