The aim:
1. To provide an introduction to global economic problems and challenges.
2. To help students to understand the links between domestic and world economy.

Acquired knowledge:
1. Students will have a knowledge about main sources of economic growth and development in modern world.
2. Students will know and understand basic determinants of international factor movements.
3. Students will be familiar with long-term global economic challenges.

Acquired skills:
1. Students will be able to analyse and explain the processes of economic changes in the contemporary interdependent world economy.
2. Students will be able to explain the economic forces that shape patterns of international factor movements.
3. Students will be able to articulate main determinants of modern economic growth and development.

Acquired social skills:
1. Students will be able to interpret and explain main problems and challenges of global economy.
2. Students will be able to present arguments for and against economic globalization.

Course contents: 
1. Introduction to Global Economy course. Defining and measuring globalization. Globalization in historical perspective.
2. Measuring economic performance. Sources of economic growth. Development strategies. Stages of development of national economies in the global marketplace. From developing to emerging markets.
3. Trade and economic growth. Gains from trade. Global trading rules and institutions. North-South trade competition in the world. Trade problems of developing countries. Fair trade movement.
4. Migration and economic development. Winners and losers from migration. International capital flows. Foreign direct investment in developed and emerging markets. Exchange rate and the international financial system. Financial crises.
5. Long-term global economic challenges. Economic inequality and poverty. Global perspectives on hunger and food securities. Globalization of food systems. Development assistance. Aid effectiveness.

Recommended reading: 
1. International Economics: Theory and Policy, Krugman P., Obstfeld M., Pearson. 2009.
2. International Trade Theory and Policy, Gandolfo G., Springer. 2014.
3. Economic Growth. 2nd edition, Barro, R.J., Sala-i-Martin, X., MIT Press. 2004.

Additional reading: 
1. Understanding Global Trade, Helpman E., Harvard University Press. 2011.
2. Inclusive growth in the fastest-growing Asian countries, Nowak W., Ekonomia – Wroclaw Economic Review, 26(3), 75-86. 2020.
3. Development trends in least developed countries, Nowak W., Proceedings of the 5th International Conference “Modern Economics”, 14-16 May 2018, University of Vigo, 41-48.. 2018.
4. Sources of economic growth in the African, Caribbean and Pacific countries, Nowak W., In: A.V. Kovrov, O.A. Popov, A. Ceh Casni (Eds.) Economic and Social Development (Book of Proceedings), 32nd International Scientific Conference on Economic and Social Development, Odessa, 21-22 June 2018.. 2018.
5. Triangular development cooperation in African countries, Nowak W., In: M. Przygoda, L. Lovrencic Butkovic, E. Szymanska (Eds.) Economic and Social Development (Book of Proceedings), 29th International Scientific Conference on Economic and Social Development – Rabat, 10-11 May, 2018. . 2018.
6. Growth Disasters in Least Developed Countries, Nowak W., In: V. Potocan, P. Kalinic, A. Vuletic (Eds.) Economic and Social Development (Book of Proceedings), 26th International Scientific Conference on Economic and Social Development – „Building Resilient Society”, Zagreb, 8-9 December 2017.. 2017.
7. The Evolution of Development Assistance, Nowak W., Journal of US-China Public Administration, 11(5), 454-462.. 2014.
8. Trade of the EU and China with South America After the 2008 Financial Crisis, Nowak W., In: Bilgin M.H., Danis H., Demir E., Vale S. (eds) Eurasian Economic Perspectives. Eurasian Studies in Business and Economics, vol 16/1, pp. 233-243. 2021.
9. Trade of China and India with Africa after the 2008 financial crisis, Nowak W., Insight Turkey, 21(1), 41-51. 2019.
10. North-South trade competition in Africa and Latin America, Nowak W., Sborník příspevků z mezinárodní vededcké conference Region v rozvoji společnosti 2017. Mendelova univerzita v Brne, 609-620.. 2017.
11. Trade competition between Asia and the European Union in Africa, Nowak W., In: M. H. Bilgin, H. Danis, E. Demir, U. Can (Eds.), Country Experiences in Economic Development, Management and Entrepreneurship, Proceedings of the 17th Eurasia Business and Economic Society Conference: 2017 (Eurasian Studies in Business and Economics 5), Springer International Publishing. 2017.