Economic globalization has grown in step with the growth of transnational trade. As different countries have different interests and with constantly changing balances of power, negotiation and cooperation are essential. Guiding critical decision-making toward mutually beneficial agreements is international economic policy. Understanding these agreements, meanwhile, can help public, private, and non-profit organizations -- in disciplines ranging from business and public service to public health and development -- leverage them to their advantage.
If you have your eye on an international career with an interest in politics, political science, and international affairs, studies in international economic policy can help you gain the inside edge. Here’s a closer look at why to pursue a degree in international economic policy, along with one interdisciplinary program aimed at preparing you for an exciting career in this area.
What is international economic policy?
According to the book International Economics: Global Markets and International Competition, international economics “describes and predicts production, trade, and investment across countries.”
The field comprises many topics, including international exchange rates and monetary flow; free trade and trade disputes; immigration and migration; shipping regulations, costs and their role in trade flow; and varying tax regimes between structures and how they influence trade decisions. Meanwhile, factors including improvements to long-distance transportation, telecommunication advancements, scientific and technological development, and the shift to information as capital supporting and accelerating the rate of growth create an ever-changing landscape.
International economic policy studies provide a policy-oriented perspective on these and other current and emerging issues. While “international economic policy” may sound dry, it’s a uniquely complex, dynamic and challenging field of economics. From outsourcing to the Chinese exchange rate, the topics addressed by international economic policy have practical and palpable effects on society.
An example of international economic policy pulled directly from current events is the COVID-19 pandemic, which constituted a massive obstacle for global economic growth. International economists and policy experts are working to counter this threat and spur growth through everything from digital trade agreements to supply chain reforms.
A more historical example can be found in the Great Depression of the 1930s, which experts say was caused in part by events in the US and the country’s financial policies. “The key factor in turning national economic difficulties into worldwide Depression seems to have been a lack of international coordination as most governments and financial institutions turned inwards,” proposes the US Department of State’s Office of the Historian.
According to foreign affairs columnist and TIME editor-in-chief Ian Bremmer, meanwhile, we’re careening toward a global depression with unprecedented economic repercussions. He asserts, “From a practical standpoint, governments could do more to coordinate virus-containment plans. But they could also prepare for the need to help the poorest and hardest-hit countries avoid the worst of the virus and the economic contraction by investing the sums needed to keep these countries on their feet.” International economic policy could help inform and guide these decisions amidst so much uncertainty.
At Mantissa College, we deliver the part-time mba programs Master of Business Administration programme, a programme in collaboration with Paris Graduate School of Management, France case studies comprise an impressive 50 percent of assessments while the remaining 50 percent is designated for assignments. The takeaway? When it comes to an active, engaging and hands-on business degree, you’d be hard-pressed to find one better than this MBA.
Mantissa College’s MBA program boasts a dynamic global network of more than 80,000 alumni. One recent alumnus, Harrison Jub, says, “I took the 15-month Master of Business Administration course and in the first week, I was discussing the Real Case Study with groups of working professionals from different fields. And so I was learning from real people with real problems. Thanks to the case study based learning approach I am now capable of taking up more projects because I had been exposed to a wider perspective on handling matters from my learning experience.”
Certainly, evidence attests to the tremendous value of case studies in business education. Between its focus on this learning style and many other desirable attributes, Mantissa College’s Master of Business Administration offers an invaluable inside edge for aspiring business leaders.
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