Overview
At a very general level, economic globalization refers to the integration of world markets and production. What are the key driving forces behind globalization? Are globalizing markets limiting the power of governments and societies to freely choose their futures? How is globalization affecting economic inequality and poverty? Who are the winners and losers in the process? How does globalization affect the less-developed regions of the world? What is the role of multinational firms? What economic policies are appropriate for a country like Canada in the emerging, competitive global economy? What economic policies are appropriate for a developing country? These are some of the important issues we will examine in this course.
This course focuses on the economic aspects of globalization but recognizes that political, social, and cultural perspectives are also important. In ECON 401, you will examine the theory, evidence, and policies related to globalization. As a result, you will develop a critical understanding of globalization issues.
Learning outcomes
After you have completed this course, you should be able to
- explain the principles and terms associated with the globalization and describe the main forces that drive globalization.
- describe the influence of culture, politics, economics, and legal systems on international business activity.
- outline the opportunities and challenges facing less developed countries in the era of globalization.
- navigate and describe the global monetary system and framework in which international business transactions are conducted.
- explain the theories of international investment, foreign exchange, and determination of foreign exchange rates.
- describe the latest global financial crisis and outline its implications on international business.
Evaluation
Your final mark in ECON 401 will be determined by your marks on three written assignments and a final examination. To receive credit for this course, you must achieve a minimum grade of 50 percent on the final examination and an overall grade of D (50 percent) for the entire course.
| Activity | Weight | Complete by |
| Assignment 1 | 15% of final grade | after Unit 2 |
| Assignment 2 | 15% of final grade | after Unit 5 |
| Assignment 3 | 20% of final grade | after Unit 5 |
| Final Examination | 50% of final grade | after Assignment 3 |
| Total | 100% | |
The final examination for this course must be requested in advance and written under the supervision of an AU-approved exam invigilator. Invigilators include either ProctorU or an approved in-person invigilation centre that can accommodate online exams. Students are responsible for payment of any invigilation fees. Information on exam request deadlines, invigilators, and other exam-related questions, can be found at the Exams and grades section of the Calendar.
Materials
Digital course materials
Links to the following course materials will be made available in the course:
Hill, C. W. L. (2025). International business: Competing in the global marketplace (Evergreen Release). McGraw-Hill Education (eText)
Other Resources
All other learning resources will be available online.