Global Business and Economics with a Nordic Perspective 5 credits

In an era of global interdependence, understanding how markets and businesses function across borders is essential for making informed economic and managerial decisions. To participate effectively in this environment, you need a firm understanding of the fundamentals of economics, business, and market behaviour. The course also introduces you to aspects of the Nordic context, where collaboration, trust, and consensus-oriented decision-making are central features of both business and policy environments. The course provides the principles and frameworks needed to understand how markets and businesses operate in an interconnected world. You will engage with foundational economic concepts such as scarcity, division of labor, and opportunity cost. The course also examines how firms operate under diverse economic and geopolitical conditions. You will develop a comparative perspective on liberal market economies, coordinated market economies, and state-led models, examining how different institutional arrangements shape firm behaviour, public policy, and broader societal outcomes. In preparation for subsequent courses, you will also strengthen your essential mathematics skills. Upon completing the course, you will be able to apply basic theoretical concepts to real-world cases and current events, demonstrate critical reasoning skills, and communicate economic and business insights effectively in intercultural settings. You will also develop mathematical, problem-solving, and academic writing skills that will support your continued studies in business and economics. <br> **Connection to Research ** The course is research-linked through its use of theory-based analytical frameworks drawn from contemporary research in economics and business administration. You engage with current debates on globalisation and capitalism, and are introduced to core elements of scientific reasoning, including theory application, assumption-based deliberation, and evidence-based argumentation. Through research-oriented learning activities, you apply disciplinary concepts to real-world cases and critically reflect on their explanatory scope and limitations. The course connects to research in JIBS’ focus areas by discussing how organisational structures and ownership models influence entrepreneurial activity, strategic renewal, and long-term competitiveness. **Connection to Practice ** The course is closely connected to practice by linking foundational economic and business concepts to real-world cases, current events, and policy developments. Through case-based assessment, you engage with practical business challenges such as organisational design, global risk exposure, regulatory environments, and sustainability trade-offs. This practice-oriented approach enhances the relevance of the learning experience by enabling you to see how abstract economic principles inform managerial and policy decisions. **Connection to Ethics, Responsibility, Sustainability (ERS) ** The course integrates normative and long-term considerations, such as inequality, accountability, and sustainability, into the analysis of economic and business principles. You analyse how resource allocation, market coordination, and ownership arrangements shape not only efficiency and competitiveness but also distributional outcomes and societal consequences. Comparative assessments of the Nordic, market-liberal, and state-led models highlight how different systems balance innovation, social equality, and environmental sustainability, while critically examining tensions and trade-offs associated with globalisation and international economic integration.