Global Economic Framework

22M0004

Master

German

5.0

only winterterm

1 semester

In open economies, the global economic environment has a decisive impact on the scope of action available to companies. Rational management decisions require that important development trends in the global economy are recognized and their effects on the options for action of companies are correctly assessed. The module expands and deepens relevant knowledge about global economic processes and structures.  It also illuminates how long-term developments in law have helped to establish capitalism as the dominant global economic framework. 

Core elements of the global economic framework
- capitalism
- Nation states
World economic institutions (WTO, IMF, World Bank, ILO)
World economic processes - globalization and deglobalization
Influence of global economic conditions and processes on
- national economies and their competitiveness
- Capacity of national states to act
- Intra- and interstate distribution of income and wealth
Influence of megatrends on the global economy
- climate change
- technical progress
- demographic change
- pandemics
Relationship between global economic and legal developments e.g.
- intellectual property law
- competition law
- capital market law

Prosperity for all by shaping global economic conditions and processes

The total workload for the module is 150 hours (see also "ECTS credit points and grading").

• Homework / Assignment or
• Written examination or
• Portfolio exam

Microeconomics and macroeconomics from bachelor programme

Students explain the most important global economic conditions and illustrate their influence on startegic decisions of companies.

Students will be able to relate world economic conditions to global processes and illustrate developments in the global economy.

Students analyze relevant framework conditions and processes of the global economy using appropriate economic theories. They critically reflect on the effects of global economic conditions and processes on national economies, strategic options of companies and the situation of employees and consumers.

Students who have successfully completed this module react independently and appropriately to unpredictable developments in a rapidly changing international environment. They apply their problem-solving skills to international challenges and critically reflect on their decisions.

Students will be able to apply theories of the world economic framework and global processes to initiate research processes by identifying research questions to be addressed and conducting appropriate research projects appropriate to the master's level.

Students critically engage with complex issues in the global economy and discuss them with fellow students at a high level. They question the political economy of the prevailing paradigms and the guidelines disseminated by the media for interpreting world economic frameworks and processes.

Students are able to classify their own and others' professional behavior normatively on the basis of their knowledge of relevant problems of the international economy. They are able to assess existing and future challenges of globalization, deglobalization and shaping of the world economic framework from an economic perspective.

The module provides students with necessary knowledge about global economic interrelationships and enables them to analyze and reflect on important global economic developments. Students thus better understand the economic causes that lead to certain developments in law, e.g. in intellectual property law, competition law or capital market law.   

• Business Law, LL.M.

• Trabold, Harald

• Trabold, Harald