BUSM090 - World Economy and Development - 2024/25

This module provides a broad overview of the process of economic ‘globalisation’ and changes in international business over time. The focus is on the activities of multinational firms, explored in relation to trends in the world economy, particularly since the 1970s. The module provides a critical and comparative perspective on the nature and scope of international business, its origins and development, theories of international trade and its regulation, the role of the state in development, the emergence of global value chains (GVCs) as a major form of organisation of the world economy, and the role of international business and finance in the promotion of sustainable development. It explores these analytical themes through various case studies. The cases cover extractive industries, such as the global oil economy; the ‘retail revolution,’ particularly in food retail markets in the US; global value chains and manufacturing in China; and the development & financing of social infrastructures such as water, energy, and housing in Latin America. Finally, we ask: how can we sustain the world economy in the face of intersecting socio-economic and ecological challenges?