Objectives and competences
• 1. Understand Global Economic Trends: Students should be able to analyze and interpret key global economic trends, including shifts in GDP growth, trade patterns, currency exchange rates, and geopolitical developments.
2. Identify Risks and Opportunities: Students should be able to identify potential risks and opportunities arising from global economic trends, such as changes in demand patterns, fluctuating commodity prices, trade regulations, and geopolitical tensions, and assess their implications.
3. Evaluate Strategies for Adapting to Economic Changes.
6. Promote Sustainability and Resilience: Students should understand the importance of economic uncertainty and volatility, including strategies for diversifying sourcing, reducing environmental impacts, and enhancing visibility and transparency.
7. Communicate Effectively: Students should be able to effectively communicate their analysis and recommendations regarding the impact of global economic trends, both orally and in written form, to various stakeholders within an organization.
8. Critically Evaluate Case Studies and Real-World Examples: Students should critically evaluate case studies and real-world examples of how companies have responded to global economic trends, drawing lessons learned and best practices .
9. Foster Collaborative Problem-Solving: Students should engage in collaborative problem-solving activities, such as group discussions, debates, and team projects, to develop creative solutions for challenges in the context of global economic dynamics.
10. Ethical and Social Responsibility: Students should consider the ethical and social responsibility implications of decisions in response to global economic trends, including labor practices, human rights issues, and community impacts, and explore ways to promote ethical sourcing and sustainable business practices.
11. These objectives aim to provide students with a comprehensive understanding of the relationship among global economic trends and equip them with the knowledge and skills needed to navigate the complexities of the global business environment.
1.
Content (Syllabus outline)
1. Introduction to International Economic Relations and the Global Context
– Purpose and objectives of the course
– The relationship between economics, politics, and power
– International economic relations as an interdisciplinary field
– Why today economics can no longer be understood without geopolitics
2. Historical Development of the Global Economic System
– From early trade routes to the Industrial Revolution
– Colonialism, empires, and economic hierarchies
– The emergence of capitalism and global inequality
– Long-term historical patterns in international economics
3. Fundamental Concepts: Growth, Development, Globalization, and Competitiveness
– The difference between economic growth and economic development
– Globalization: phases, mechanisms, and limitations
– The concept of national competitiveness
– Critical reflection on dominant economic narratives
4. Institutions and Economic Development
– Institutional theory (Acemoglu & Robinson)
– Rule of law, fiscal discipline, and decentralization
– Fraser & Heritage Index – methodology and examples
– Comparative overview: Slovenia, Switzerland, Slovakia
5. Global Economic Trends and Structural Shifts
– Demographic changes
– Debt, financial cycles, and crises
– De-globalization and fragmentation of the global economy
– Information manipulation and economic discourse
6. Strategic Global Inputs: Energy, Food, and Raw Materials
– Energy
– Raw materials
– Global markets
– Food
– Intermediate and semi-finished goods
7. System Transformation and Reforms
– Transitions from planned to market economies
– Baltic states (Estonia, Latvia, Lithuania)
– Poland – an institutionally balanced approach
– Chile – pioneer of neoliberal reforms (1970–1990)
– Argentina – the reforms of Javier Milei
8. Geopolitics and Geoeconomics in the 21st Century
– Transition from a unipolar to a multipolar world
– Geoeconomics as an instrument of power
– Sanctions, investment, and technology as political tools
– The relationship between security and economics
9. Critique of the “Green Transition” and ESG
– The green transition
– The case of Germany
– ESG (Environmental, Social, and Governance frameworks)
10. Country Case Studies• •
Learning and teaching methods
lecturing;
multimedia presentations;
case studies;
team work
Intended learning outcomes - knowledge and understanding
Development of knowledge and understanding:
Students:
1. Acquire specific knowledge in the field of international economic relations.
2. Have a detailed knowledge of theories in the field of international economic relations.
3. Learn how to analyse and synthesise different approaches in the field of international economic relations.
4. Can demonstrate awareness of wider social and environmental ethical issues in areas of international economic relations.
Intended learning outcomes - transferable/key skills and other attributes
? Cognitive/Intellectual skills:
Students:
1. Understand and apply critical analysis and theory development and their usability in solving real professional problems, with minimum guidance.
2. Get the ability to search for and synthesize new information from the field of international economic relations in literature and praxis.
3. Synthesize different knowledge and procedures and are aware of importance of use of professional literature.
4. Can select appropriate techniques for problem solving and are able to evaluate the importance and significance of data.
5. Can identify key aspects of problem from different viewpoints.
Key/Transferable skills
Students:
1. Further develop skills and expertise in the use of knowledge in a specific working area.
2. Upgrade the ability to become an autonomous learner.
3. Upgrade the ability to apply information technology.
4. Upgrade the ability to work in pairs and groups.
5. Further develop their communication skills in an effective manner to effectively and professionally communicate.
Practical skills:
Students:
1. Get practical experience in the field of international business.
2. Are able to act autonomously with defined guidelines and certain level of supervision.
Readings
Obvezna študijska literature/Compulsory textbooks:
1. Uvod v mednarodne ekonomske odnose in globalni kontekst (geopolitika kot nujen okvir)
IMF (2023): Geoeconomic Fragmentation and the Future of Multilateralism (preberite str. 1–25).
https://www.imf.org/-/media/files/publications/sdn/2023/english/sdnea2023001.pdf
2. Zgodovinski razvoj svetovnega gospodarskega sistema
OECD Insights (PDF): Economic Globalisation: Origins and Consequences
https://www.oecd.org/content/dam/oecd/en/publications/reports/2012/11/economic-globalisation_g1g134da/9789264111905-en.pdf
obvezno branje za temo 2: “The merchant, the inventor and the sovereign (from the Neolithic period to the Second World War)” + poglavje do 1990 preberite do str. 38)
3. Temeljni pojmi: rast, razvoj, globalizacija, konkurenčnost (in omejitve globalizacije)
IMF, Finance & Development (2023): Globalization (H. James) (celoten članek).
https://www.elibrary.imf.org/downloadpdf/view/journals/022/0060/001/article-A021-en.pdf
OECD (2023): Deglobalisation? The reorganisation of global value chains in a changing world (preberite str. 1–15).
https://www.oecd.org/content/dam/oecd/en/publications/reports/2023/04/deglobalisation-the-reorganisation-of-global-value-chains-in-a-changing-world_324dfabd/b15b74fe-en.pdf
4. Institucije in gospodarski razvoj (Acemoglu & Robinson + merilniki “ekonomske svobode”)
Acemoglu & Robinson (MIT, 2016): Paths to Inclusive Political Institutions (preberite str. 1–25).
https://economics.mit.edu/sites/default/files/publications/Paths%20to%20Inclusive%20Political%20Institutions.pdf
Heritage Foundation (2025): Index of Economic Freedom – Methodology (celoten dokument).
https://static.heritage.org/index/pdf/2025/2025_indexofeconomicfreedom_methodology.pdf
5. Globalni ekonomski trendi in strukturni premiki (demografija, cikli, dolg, fragmentacija)
OECD (2025): OECD Economic Outlook, Volume 2025 Issue 2 (preberite Executive summary + uvodni pregled, okvirno prvih 25 strani).
https://www.oecd.org/content/dam/oecd/en/publications/reports/2025/12/oecd-economic-outlook-volume-2025-issue-2_413f7d0a/9f653ca1-en.pdf
6. Strateški globalni inputi: energija, surovine, hrana (varnost dobave in šoki)
IMF (2022): Market Size and Supply Disruptions: Sharing the Pain of a Potential Russian Gas Shut-off to the European Union (preberite str. 1–15).
https://www.imf.org/-/media/files/publications/wp/2022/english/wpiea2022143-print-pdf.pdf
7. Preobrazba sistemov in reforme (tranzicije, “šok terapija” vs. postopnost, nove reforme)
IMF (2025): The Sequencing and Speed of Reforms in Transition Countries (preberite str. 1–25; konceptualni del o zaporedju reform).
https://www.imf.org/-/media/files/publications/selected-issues-papers/2025/english/sipea2025086.pdf
8. Geopolitika in geoekonomija v 21. stoletju (sankcije, tehnologija, trgovina kot orodje moči)
OECD (2023): Challenges to international trade and the global economy (preberite str. 1–25).
https://www.oecd.org/content/dam/oecd/en/publications/reports/2023/01/challenges-to-international-trade-and-the-global-economy_80e64b99/5c561274-en.pdf
9. Kritika “zelenega prehoda” in ESG (Nemčija kot primer + problem meritev ESG)
https://nypost.com/2025/07/17/opinion/europe-is-committing-economic-suicide-with-climate-change-cult/
https://archive.ph/Yjmvf
Prezentacija (PPT)
10. Primeri držav
UMAR (2024): Poročilo o razvoju 2024 (slovenščina; preberite str. 1–25).
https://www.umar.gov.si/fileadmin/user_upload/razvoj_slovenije/2024/slovenski/POR2024_S_01.pdf
Fraser Institute (2024): Economic Freedom of the World 2024 (preberite str. 1–20; definicije, interpretacija indeksa, kako brati rezultate).
https://www.fraserinstitute.org/sites/default/files/2024-10/economic-freedom-of-the-world-2024.pdf
Dodatna študijska literature/Additional textbooks:
• Niall Ferguson. 2014. Civilizacija - Kako so vrednote Zahoda osvojile svet. Umco.
• Daron Acemoglu, James A. Robinson. 2015. Zakaj narodi propadajo - Izvori moči, blaginje in revščine na različnih koncih sveta. Umco.
• Rosefielde, Steven. 2008. Comparative Economic Systems: Culture, Wealth, and Power in the 21st Century. Oxford: Blackwell Publishers.
• CIA. 2023. The World Factbook. Available at: https://www.cia.gov/the-world-factbook/
• Federal Reserve Bank of St. Louis. 2020. Economic Research. Available at: https://fred.stlouisfed.org/?gclid=Cj0KCQjw6uT4BRD5ARIsADwJQ1_eK1nJO7OgxDrDoh1f4vX1fpW_PseAin4jqZNSALurRxhiGGScI4EaAi7PEALw_wcB.
Additional information on implementation and assessment 4.1 participation in the pedagogical process ; (10%)
3.2 seminar paper; (30%)
1.1 written exam (60%)
