The Crossroads of the Global Economy. For Non-Financial Professionals is a course designed to give you an in-depth understanding of global economic dynamics, even if you have no prior background in finance. At a time when market fluctuations, international trade and economic crises have a daily impact on our lives, understanding these phenomena is crucial. You will learn how the world works under a free-market system and explore both its strengths and the traditional criticisms levelled against it. You will discover whether there really is a limit to global economic growth and how international investment and trade shape our future. Gaining expertise in these areas will not only enable you to make more informed decisions in your personal and professional life, but will also position you in a field where demand for skilled workers is growing, and where economic knowledge is valued more than ever. This online course offers you the flexibility you need to acquire these skills from the comfort of your own home, preparing you to successfully navigate the challenges of the global economy.
The Crossroads of the Global Economy: For Non-Financial Professionals
Corporate
40 hours
Introduction
Objectives
- To understand how the free market operates in the global economy.
- Identify traditional criticisms of the free-market system.
- To analyse the limits to global economic growth.
- To explore the impact of international trade and investment.
- To understand the causes and effects of economic crises.
- To assess the significance of the free market in today’s economy.
- Apply economic concepts to real-world situations.
Table of Contents
TEACHING UNIT 1. HOW DOES THE WORLD WORK? THE FREE MARKET ECONOMY
How the Market Economy Emerges – Adam Smith
How the market economy works – The invisible hand
There is an ethical basis to the free market
Gross Domestic Product – The indicator the world watches
TEACHING UNIT 2. TRADITIONAL CRITICISMS OF THE FREE MARKET SYSTEM
The system revolves around a point of equilibrium which it never passes through
Late Development – Those who arrived later
An army of reserve workers outside the system
TEACHING UNIT 3. ECONOMIC GROWTH AROUND THE WORLD. IS THERE A LIMIT?
Economic Growth v. Human Development
Inequality in the world today
Limits to economic growth
Zero-sum games
TEACHING UNIT 4. INTERNATIONAL TRADE AND INVESTMENT. ECONOMIC CRISES
The current account balance – The indicator we should all be watching
Exporting and importing countries
The current account balance explains the crises
Current situation
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