General Information
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Instructor Bios
Bernardo Blum is an Associate Professor of Economic Analysis and Policy and Director of the Institute for International Business at Rotman. Bernardo’s research falls into three broad areas: international trade, where his work examines the determinants of international trade patterns and the economic institutions that facilitate trade; urban economics, where his work examines the impact of urban agglomeration on the productivities of, and so returns to, different kinds of skills; and the determinants of income inequality.
Walid Hejazi is an Professor of Economic Analysis and Policy. He has researched, advised, and testified extensively on global competitiveness, and is currently working on a series of studies which shed light on the competitiveness and productivity of Canadian firms. He teaches Macro and Global Economics in Rotman’s MBA, EMBA and custom executive programs. He has delivered lectures in over 30 countries and has taken students on many study tours
Format
While the course is offered 3 times a year, this particular offering takes place during the January intensive period (Monday, January 8 – Friday, January 19, 2024), from 7:00-9:30am, online using Zoom. The course involves extensive group work.
Course Mission
While course has several themes, at its core is the development of an understanding of the sources of comparative advantage, and the kinds of goods and services that are consistent with these advantages. We focus on how hard it is for companies to trade, and why that is the case. In short, what is it that allows Canadian companies to compete in the global economy, and what is the nature of their offerings that will most likely be successful? We study how companies design strategies to enter foreign markets? Directly related to this is, how to design global sourcing strategies to enable them to better compete in the global marketplace? Where are inputs sourced from, and where is production undertaken? We also consider whether a firm should export directly to retailers or customer in the foreign market, or should they deal with an exporting/importing agent or a distributor? We also consider the emergence of many economies, such as China, India, Bangladesh, Mexico, and many others, and the implications for global trade and global supply chains. As these economies develop, wages and the costs of operating within these economies increase dramatically. We consider how these rising costs impact global sourcing strategies for firms deploying global strategies. In short, the course helps managers understand how to navigate the many challenges companies face when entering foreign markets, including but not limited to an understanding of comparative advantage, trade costs, tariff and non-tariff barriers, free trade agreements, the creation of global supply chains, protections for intellectual property, consumer preferences and tastes, product affordability, the importance of differences in cultures, trade finance, and managing exchange rates risks. Consideration is also given to the UN’s Sustainable Development Goals and the impact globalization has on the achievement of these goals. This course, therefore, develops the managerial skills required for the internationalization of firms.
Course Learning Outcomes
- The Changing Global Landscape, and the rise of emerging markets
- Canada’s Global footprint, and the need for diversification in Canada’s international trade
- Comparative advantage, and its implications for global opportunities for individual firms
- The importance of productivity and innovation to be successful in the global economy
- The design of global supply chains and global sourcing strategies
- Understanding which markets to enter, and the ideal market entry strategy
- Managing many risks of operating in the global economy, including protecting intellectual property, managing exchange rates risks, and managing cross-cultural differences
- Develop an understanding of the UN’s Sustainable Development Goals, and how globalization can advance this agenda
Evaluation and Grade Breakdown
| Component | Weight |
|---|---|
| Group Breakouts | 10% |
| Case Solutions: Group Submission | 10% |
| Peer Feedback | 10% |
| Final Group Project: Paper Submission, PPT, and Final Presentation | 30% |
| Final Exam – Saturday, January 20, 2024 | 40% |
Required Resources
This course will use a variety of sources that will be made available in a course reading package. These will include extensive background data, news articles, and video interviews to provide a fuller picture of a complex business situations.