A multitude of political, social and cultural forces drive economic decisions in our globalized world. To understand these forces students need to learn about the many challenges faced by today’s firms and economies. These include resource depletion, financial crises, ethical questions or social exclusion. The program Global Economics and Management views the classical studies of business administration and economics within a global context and combines them with knowledge from political science, sociology, ethics and engineering. Students gain a transdisciplinary understanding of global economic challenges with an emphasis on sustainable development and responsible leadership.
Global Economics and Management
BA undergraduate program
Program Structure and Content
Take 3 CHOICE Modules, at least one free selection
This module introduces the workings of economies, progressing from individual to national markets. The decisions that firms, workers and consumers make are examined in Microeconomics. Macroeconomics addresses the whole economy of a country in terms of the goal of stable and sustainable economic growth. A key question in both, Microeconomics and Macroeconomics, is when, how and why governments may want to intervene in markets in order to deliver satisfactory outcomes for society as a whole, while balancing the contradicting interests of various societal stakeholders. Two seminars with 2.5 credits each have an emphasis on specific examples of such economic policy controversies and conflicts.
The module “General Management” provides the foundation for the basic domains of business practices and management tools in the international context in which modern businesses increasingly interact with their various stakeholders. The module consists of three courses: “Introduction to International Business”, “Entrepreneurship and Innovation”, and “International Financial Accounting”. “International Business” provides the foundation for the basic domains of business (accounting, economics, finance, management, marketing and production). It builds the base for all other management and business courses. “Entrepreneurship and Innovation” deals with firm-internal processes and methods to start and run a business. An innovative approach for creativity management (Design Thinking) will be applied in the course. “International Financial Accounting” explains the applications of international accounting standards. Special emphasis is placed on managing multinational enterprises with respect to how accounting applies to global strategies and the key accounting issues that influence multinational decision making. This module provides the foundation from which you may progress to higher level modules in Diversity Management, Finance and Project Management and Strategy and Management.
Take 3 CORE Modules, at least 2 from study program
Economic Policy Challenges
The world’s economic policy challenges are many-facetted. In this module students learn about critical challenges in two different fields. The course Development Economics focusses not only on the economic policy issues faced by large parts of the world population living in developing countries but also seeks to evaluate the consequences of these challenges for industrialized countries. The course Environmental and Resource Economics is devoted to the overarching question of environmental and resource security, which concerns all country groups. The third course, Innovation Economics, helps students to understand the vital role that research and development plays in solving a broad range of challenges in firms, industries, and national economies.
Economic Institutions and Organizations
This module gives an overview of the many ways in which value creation can be organized in economic institutions on international, national and sub-national levels. The course Comparing Economic Systems introduces the many different forms of market capitalism and their different performances. The course International Economics does not only show how international trade, capital movements and labor migration help to maximize welfare in a liberal world order, but in some instances also lead to significant welfare losses, as for example in the case of international financial crises. Since value creation happens not only in profit-oriented firms but to a large extent also in non-profit organizations, international organizations, and governmental organizations, this module also focusses in a third course on Public Management and Public Policy. All these fields open a view on the importance of political decisions and determinants for economic value creation.
The Module “Diversity Management” addresses the opportunities and challenges that the diversity of human needs and resources poses for modern enterprises, especially international and internationalizing companies. Inside the firm, Leadership and Human Resource Management need to build on the latest evidence in Organizational Behavior and Cross-Cultural Management in order to motivate and monitor a diverse workforce successfully and responsibly. Outside the firm, Marketing practices must reflect the differentiated needs of customers and business partners for creating unique offerings tailored to specific segments in dynamic, globalized markets. The module provides a holistic view of how companies manage diversity to create value for firms’ stakeholders.
Take CAREER Modules, choose between World and Campus Track
Program-specific Internship / study abroad
Program-specific Project / Thesis Module
Program-specific Specialisation Module
Exemplary course offering
• Public Finance in Times of Crisis
• Economic Cycles and Crises
• Innovation Economics
• Global Catastrophes and International Risk Management
• Big Data for Business and Economics
• Energy and Environmental Policies
• Sustainable Management and Policy
• International Organizations
• International Political Economy
• Global Communication
• The economic impacts of Germany's "Energiewende"
5th and 6th Semester
Program-specific Project / Thesis Module
Program-specific Specialisation Module (please see World Track for exemplary course offering)
Additional CORE Module
For further information, please see the program website: www.jacobs-university.de/gem-program