M.A. in Business and Law in International Markets
REQUIRED COURSES
ECO 510 INTERNATIONAL ECONOMICS – TRADE AND COMPETITIVENESS
Prerequisites: None
The course presents the essentials of international economics, focusing on trade and a firm's competitive advantage: specialization according to comparative costs, comparative advantage according to the country's factor endowment, political economy of gains and losses from international trade, modern theories of trade according to returns to scale and product differentiation, trade policies: duties and non-tariff barriers, subsidies, nominal and effective customs protection, embargo, dumping, strategic trade, trade of factors of production—financial capital and labor.
ECO 620 POLITICAL ECONOMY OF EUROPEAN INTEGRATION AND TRADE IN THE EU
Prerequisites: ECO 510, FIN 510
The course provides essential knowledge about the globalization of the economic environment applied to the specific conditions in Europe: the history of integration across the world and in Europe; the process of enlargement and plans for the future; challenges of globalization; theories of integration: impact on growth, employment, commodities, services and macroeconomic stability; common policies: CAP, competition policy, trade, industry and regional policies; criteria for the choice of a social-economic model; fundamentals of legislation and EU declaration; monetary union, optimal currency areas and exchange rate stability.
ECO 640 ORGANIZATIONAL THEORY AND DESIGN
Prerequisites: None
The course presents theory of organizations from the economic perspective, emphasizing the microeconomic viewpoint. Its aim is to motivate students to think about organizations as systems with an internal structure and design because the organizational structure, i.e., the links between the people and activities in an organization, the coordination and control mechanism that relate them, are a major determinant of an organization's ability to achieve its desired objectives. The main topics covered throughout the course are: basic concepts and organizational theories, brief overview of the evolution of macroeconomic theories, the microeconomic theories of motivation (introduction of the principal-agent theory, contract theory), and the impact of organizational structure on the operation of a company.
FIN 510 INTERNATIONAL ECONOMICS – FINANCE
Prerequisites: None
The course provides the essentials of international finance and its financial management: national accounts and balance of payments; exchange rates and foreign exchange markets; money, interest rates and exchange rates; international financial markets and institutions; price level and exchange rates in the long run; returns and exchange rates in the short run; fixed exchange rates and interventions on foreign exchange markets; floating exchange rates; management of risk and speculation; optimal currency areas and the Euro; foreign direct investment and global capital market.
FIN 541 CORPORATE FINANCE IN GLOBAL ENVIRONMENT
Prerequisites: None
The course provides deeper insights into corporate finance, extending the knowledge acquired at the bachelor's level. It emphasizes the specific features of corporate financial management in the global environment, providing the students with a framework for financial decision-making on international markets. The course covers the following topics: valuation methods, cash flow analysis, risk management, investment and financial decision-making. The course strenghtens also the theoretical knowledge of students, focusing on the capital asset pricing model, Modigliani-Miller theory, and efficient markets' theory.
LBS 510 BUSINESS LAW
Prerequisites: None
The Course deals with basic principles of Business law in connection with everyday practice in the life o manager. Students will be introduced to judicial review and decision of key cases, statutes and other statutory provisions with special emphasis dedicated to current situation in United States, United Kingdom and the Czech Republic. The main aim of this course is to provide students with knowledge related to contract theory, corporations and other business organizations, securities regulations, investments, mergers and acquisitions etc. Successful graduate should be able not just to merely distinguish theoretical approaches but he should be capable to applying these either in Czech or more importantly in international business environment.
LBS 540 LAW OF BUSINESS CONTRACTS
Prerequisite: None
This course acquaints students with the content and application of common and civl law, equitable and statutory rules relating to enforceable agreements and puts those rules in their practical and social perspective. Although the course is not concerned with the various statutory modifications made with respect to specific classes of contract (eg employment, land, consumer finance etc), which are dealt with in other courses, an understanding of the basic conception of a contract is vital not just as a starting point for those statutory models but also for an understanding of everyday commercial agreements. The following topics will be covered: Creation and content of a contract (formation, privity, agency, terms); statutory remedies for misleading and deceptive conduct in trade and commerce; misrepresentation; unconscionable dealing; improper pressure; performance and discharge of obligations (performance, breach, frustration, variation and discharge by agreement); and remedies (enforcement, compensation, restitution).
LBS 610 EU LAW
Prerequisite: None
After a preliminary introduction of EU institutional structure, the course will move to provide an in-depth overview into those major EU policies with a strong impact on economics and business. The liberalisation of markets and competition policies, under all their theoretical as well as practical aspects, are certainly the main examples of legal issues with a major impact on business operators and will be focused on thoroughly during the course. Other relevant EU policies, with a major economic impact, to be covered are for example the environmental, social as well as agricultural and bio-technology policies At the end of the course, students are expected to be familiar with the legal basis of those EU policies dealt with, to understand their impact on business and economics, to apply the notions acquired in their professional life and to develop a critical awareness of the topics studied. These skills will be tested by the lecturer.
LBS 640 PROTECTION OF ECONOMIC COMPETITION
Prerequisite: None
Course familiarizes students with the public-law regulation of economic competition on World markets, mainly in the EU and the USA. Students should acquire reasonably deep knowledge of two basic forms of anti-competitive behavior: cartel agreements and abuse of dominant/monopoly position as well as of practical issues of competition compliance (standards of contract agreements, distribution systems, co-operations and alliances between competitors, compliance programs, communication with anti-monopoly offices). Specific part of the course is dedicated to the control of concentrations (mergers and acquisitions) and to the satisfaction of basic requirements of competition law on competitors concerned.
MGT 510 MANAGEMENT AND COMMUNICATION IN GLOBAL ENVIRONMENT
Prerequisites: None
Management in a global environment introduces the main roles of a manager in a multicultural global environment. The course focuses on the interaction between culture, strategy, and behavior for the modern manager. The course serves also as an introductory class for the program, introducing the main concepts, such as globalization, the political, legal, and technological environments, as well as ethics and social responsibility.
The course introduces the main topics from all relevant management areas.
Culture and communication: The relevance and role of culture for the global manager, dimensions of culture, diversity, and cross-cultural communication and negotiation.
Strategic management: global strategy formulation and implementation, foreign markets entry strategies, organizational structures, techniques for managing political risk, government relations and strategic management decision-making and control.
Organizational behavior and human resource management: motivation and leadership for the global manager, as well as HR management and hiring across culture and labor relations.
MGT 641 BUSINESS STRATEGIES AND GLOBAL COMPETITION
Prerequisites: ECO 510, ECO 640, FIN 510, MGT 510
The course is focused on the economic aspects of corporate strategy development for international markets. It introduces the relevant microeconomic concepts, market forms and market concentration, market structure analysis and analysis of the organizations operating on global markets. The course presents tools and concepts necessary for understanding the systematic relationships between the management strategy and competitiveness of the company in the international environment, such as market power, productive and allocative efficiency, and X-nonefficiency. Topics related to market entry will be covered: criteria, forms and barriers of entry to global markets, and risks related to a market entry in the short and long run. The course presents also techniques for strategic management under global competition aimed at the maximization of comparative advantage.
MGT 681 INTERNATIONAL OPERATIONS MANAGEMENT
Prerequisites: MGT 510, ECO 510
The course introduces the areas of operations management and global supply chain management in the international environment. It covers the following topics: activities and processes at the entry to the organizational system, i.e., the strategic choice of suppliers, identification of the best-in-class supply organization and development of the strategic and effective portfolio of global suppliers; processes and technologies creating value added in the system of goods or services production, i.e., the organization of production focused on technologies such as KAIZEN and LEAN, inventory management, total quality management, production planning, Material Requirements Planning and its role in the planning of production, insourcing versus outsourcing; distribution processes, i.e., transportation logistics, packaging and distribution, optimal location of production sites, logistics including the questions of global security and terrorism. All topics consider the specific features of the international environment and differences in the required standards across countries.
The course emphasizes the importance and utilization of E-business tools in the area of sourcing (E-Auctions, E-Procurement, E-Invoicing, etc.), in the dynamic planning of the supply chain, which has to adjust in real time to the changing conditions.
MGT 700 THESIS SEMINAR
The focus of the seminar is on the discussion and critical analysis of students' thesis proposals and the progress of their work. In the introductory part, the course provides an overview of research methodology, analytical and stylistic standards for research studies used in the broader context of the social sciences. The major part of the seminar is devoted to the students' presentations, where the students are required to present the concept and methodology of their theses. Emphasis will be placed on the applied methodology and argumentation skills.
POL 580 INTERNATIONAL POLITICAL ECONOMY
Prerequisites: None
This course aims to develop theoretical and empirical understanding of the connections between economics and politics. It examines the strategic interaction of agents in political and market environments. The course will pay particular attention to foreign direct investment, trade, international markets, international competition, geo-politics, as well as the rise of China and India in the international constellation. Supranational organizations such as the European Union, World Trade Organization, United Nations, NAFTA, and non-governmental organizations will be included.
ELECTIVE COURSES
FINANCE
ACC 510 INTERNATIONAL ACCOUNTING AND REPORTING
Prerequisites: None
The course introduces accounting methods specific for international and multinational companies, compares the standards and requirements for financial reports and information disclosure for various countries, with particular focus on the standards used in the U.S.A. and the EU. Students learn about the process of harmonization and standardization and the evolution of the international accounting standards, work with different currencies, and about the optimal presentation of financial reports of international companies. They also learn to work with and understand these reports.
MTH 530 QUANTITATIVE DATA ANALYSIS
Prerequisites: None
The course is focused on the mathematical and statistical methods applied to economic analysis and data management. It introduces fundamental topics from econometrics: linear regression model and its applications, problems with the analysis (robustness, heteroscedasticity). Emphasis is on the techniques relevant for the financial analysis, time series models (stationary, non-stationary processes, Box-Jenkins methodology, volatility). The course is aimed at providing practical experience with software applications and linking the theory with practice.
FIN 630 BANKING
Prerequisites: FIN 510, ECO 580
The course is designed to prepare the students for jobs in investment units and banks where they will be exposed to the challenges of a fast-changing market not only in the Czech context, but the European and international arenas as well. The course requires a sound knowledge of the use of statistical modelling.
Topics will include:
1. Overview of Banking; Introduction to banking functions, European Banking Standards, Role of central banks and European Central Bank, Retail vs. Wholesale Banking, Trends in Service Consolidation
2. Credit and Service Calculations; Credit risk evaluations based on financial information
3. Analysis of Banking Balance sheets; Capital base rule, Key Ratios, Spread calculation, Product Diversification/Risk Exposure, reserve requirements and calculations
4. Macro-Economic Context; Money Supply Calculations, Off-shore Activities, Multiplier effect, International Trade, Mundell-Fleming formula
5. Banking practices in other countries; United States, Canada, Great Britain, Emerging Markets, Islamic Banking, Bills of Exchange
6. Banks and Information Technology; History of computers in Banks; Security concerns; New technology; Future developments
7. Major conventions; Bank for International Settlements, Foreign Exchange calculations, international Fisher formula, Basel II, SWIFT, European Banking Federation
8. Czech Banks – an overview, Czech Banking law, Czech National bank, Reserve calculations, Czech Banking Association, Services offered, Market penetration
9. Ethical and Public Concerns; Adequacy of current arrangements, Mergers and acquisitions, Banks after the Velvet Revolution, Barings Bank et al
FIN 660 FINANCIAL RISK MANAGEMENT
Prerequisites: MTH 530, FIN 630, FIN 651
The course presents methods for risk management, with particular focus on the risks faced by banks and other financial institutions. The majority of the course is, however, applicable also to nonfinancial institutions. Emphasis is placed on quantitative and qualitative techniques and tools suitable for the recognition, measurement and management of financial risks related to the operation of institutions in the changing finacial market. Financial market regulation and oversight and the capital requirements set in Basel II are also included. The concluding lectures integrate the material from the course and discuss what could be learned from the big losses, suffered by several institutions, particularly in the last years.
The main topics are: financial products and hedging, bank regulation and Basel II, currency markets, credit risk and its management, operations risk and its management, liquidity risk, economic capital and RAROC.
MANAGEMENT AND MARKETING
BSC 600 SPECIAL TOPICS IN MANAGEMENT
This course provides room for introducing various important and actual topics in management and economics. These subjects are not included in the regular curriculum of the program and are included based on the availability of experts in the field, who could lead the course. The courses reflect the actual trends in management science and respond to the needs arising on the job market.
MGT 635 GLOBAL STRATEGY: INNOVATIONS AND DESIGN
Prerequisites: MGT 510
The course will cover first a general overview of global strategic management and planning considerations for the international manager. The focus will be on innovation and design as strategic drivers of successful organizatons. How innovations and design have risen to become a primary driver of global strategy for many companies is reviewed in the context of companies like Samsung, Toyota, LG , Nokia, Apple, Sony and others who have risen to prominence by their strategies which have in large part been driven by innovation and design. Attempts will be made in the course with students to determine the future course of innovation and design as strategic drivers.
MGT 651 HUMAN RESOURCE MANAGEMENT IN INTERNATIONAL ENVIRONMENT
Prerequisites: MGT 510, MGT 541
This course is focused on the theory and methods of human resource management in international companies, facing specific problems related to the multicultural environment, their size and organizational structure. It presents methods necessary for the assessment of the productivity of labor, leadership and development of human capital leading towards the improved achievement of corporate goals, identification and hiring of the right employees, identification and assignment of responsibilities, links between employees' skills and design of effective wage plans, design of an optimal benefits scheme, and determination of optimal employees/managers programs.
MGT 685 GLOBAL SOURCING OPERATIONS
Prerequisites: MGT 510, ECO 510
The course covers topics in strategic global supply chain management and the transformation of a sourcing organization into a fully integrated part of a global supply chain, at the operations and organizational levels. Topics covered include: the choice of a supplier, audit of a new supplier, the process of transition between suppliers, strategic consolidation of suppliers, suppliers' performance evaluation, and the legal and contractual aspects of the relationship with suppliers. Six Sigma Methodology, as an enabling tool to gain a competitive advantage on the market in terms of year-over-year productivity improvements, will be applied.
Emphasis is on E-business techniques and tools, i.e., real-time data sharing with suppliers in the virtual Marketplace, implementation of electronic auctions in negotiations, and complete E-Procurement. The course includes also a comparison of suppliers' competitiveness, their strengths and growth opportunities at the regional and global level with an emphasis on the cultural and social differences determining behaviors and the decisions of trading partners.
MKT 510 INTERNATIONAL MARKETING
Prerequisite: None
The course is aimed at deepening students' knowledge in marketing, with a particular focus on marketing in an international environment, and understanding the impact of globalization on marketing strategies for international markets. The topics include: analysis and comparison of foreign markets, marketing strategy design, entry strategies for foreign markets, adaptations of a marketing mix to specific requirements of foreign markets. Emphasis is also on understanding the differences in consumption behavior and the consequent need for the adjustment of marketing strategies in the EU area.
MKT 661 MARKETING RESEARCH AND GLOBAL MARKETS ANALYSIS
Prerequisites: MKT 510
The course builds on the general marketing course, focusing on the further development of the research methods applied to marketing. The topics include: principal methods of market analysis and new trends in international marketing, data collection and analysis, data interpretation and presentation of marketing research results. Various sources of primary and secondary data are introduced.
GENERAL TOPICS
MGT 621 EAST ASIAN MARKETS: CHINA AND JAPAN
Prerequisites: MGT 510, ECO 510
The course introduces students to the economics and society of East Asian markets, with a particular focus on China and Japan (including their relationships). The course will prepare students for the specifics and risks related to negotiations and business operations in these markets and for the specialization of their business activities in this increasingly important region. The main topics are: basic information about the region, history and the present situation, selected economic topics (banking system, reforms, crises from the last years, and others besides).
MGT 62X REGIONAL MARKETS
Prerequisites: MGT 510, ECO 510
The course presents different regional markets. The East Asian Markets course is an example of a regional markets course. Other regions that may be included are: The emerging markets of Eastern Europe (focus on Russia and former Yugoslavia), Africa and markets in developing countries, South American markets, and so on. The courses are offered based on the availability of experts in the field.
FRENCH
French has been included as an elective for students who plan to continue their careers in French-speaking areas or in regions, where French is an advantage. The course is an advanced course, requiring the students to have prior knowledge of the language. The levels offered will be ‚intermediate' and ‚advanced'.
INTERNSHIP
The internship as an elective gives students an opportunity to work in private companies or public institutions. The student must work in an area related to the field of his/her studies, i.e., in a company or organization with an international aspect. The course requires the approval from the Chair of School of Business Administration (or Deputy Chair). The student is required to prepare a final report concerning the internship; credits for the course are awarded based on this report.
(Additional Courses will be added/updated)