Course Syllabus

Globalization and European Economies A

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Semester & Location:

Fall 2021 - DIS Copenhagen

Type & Credits:

Core Course - 3 credits

Core Course Study Tours:

Western Denmark & Paris

Major Disciplines:

Economics, Finance, International Relations


One course in intermediate or advanced micro- or macroeconomics at university level.

Faculty Members:

Michael Hedegaard -

Program Director:

Susanne Gaul Hovmand -

Time & Place:

Mondays & Thursdays, 8:30 - 9:50, F24-303

Course Description

Globalization is reshaping the world. What can economics say about the new (and old) consequences of globalization? In this course, we study the forces behind globalization using economic theories of international trade, capital markets, institutions and labor economics. A special focus will be on Europe and the EU, the Euro, global competitiveness, the financial crisis and the present economic outlook.

We will examine consequences of economic integration and barriers of markets in goods, factors of production, and financial flows and the impacts of increased interdependence in these markets for economic policy decisions in Europe and the world.

We will ask and discuss questions such as whether globalization promotes economic growth, how income distribution is affected, winners and losers of globalization, if free capital flows undermine macroeconomic stability and how government institutions should or could adjust their powers and responsibilities.

And not least, we will go on study tours in Denmark and abroad to gain real-life perspectives from experts to the theories. The study tours will provide ample room for reflection outside of class rooms on the topics and theories studied in class. The course also includes guest lectures and discussions.

Each student will during the course work on a research question which will materialize in a research paper or video with emphasis on proper use of methodology and delimitation. During the course students will also work in groups choosing a country to analyze and risk-assess in light of globalization and will prepare a presentation to a panel of experts.

Learning Objectives

At the end of this course you should be able to:

  • Reflect and think critically about globalization, the factors driving this process and consequences of globalization
  • Analyze and compare how companies, countries and sectors compete and position themselves in a globalized world
  • Apply international trade theory to analyze and interpret global economics
  • Analyze and reflect on optimal currency areas, European integration and the Euro
  • Analyze and reflect on international investments, international capital flows and financial crisis
  • Apply relevant micro and macro-economic theory and models to synthesize the main and diverse elements making up global economics and current economic policies
  • Analyze and reflect on how modern monetary policies impact financial flows, currencies and global economies
  • Evaluate different views on the process of globalization, European and global economics, the Euro and be able to argue and defend a position on a number of key issues debated in current news
  • Apply knowledge gained and work in a structured way with a research question

Course Requirements and Grading

This is an upper level economics class and requires that you have taken one semester each of micro- and macroeconomics at university level. Additionally, you must have taken one course in either intermediate or advanced macroeconomics.


The following textbooks should be picked up from the library during arrivals:

  • Globalisation and the International Economy, by Michael Hedegaard 1st edition, 2018
  • International Economics: Theory and Policy, by Paul Krugman and Maurice Obstfeld 9th edition, 2013
  • The Economics of European Integration, by Richard Baldwin and Charles Wyplosz 5th edition, 2015

Given the topic’s rapid development and to keep discussions as relevant as possible, articles, papers, blogs, videos etc. will be uploaded as supplementary information sources.

The grading allocation will be as follows:

Participation: 20%

Country analysis: 25%

Research project: 35%

10 quizzes during course: 20%

Your participation grade will be determined by 3 factors: attendance, preparedness for class, and active engagement in lectures and other class activities. You are required to attend each and every class. If you miss a class, you must contact your professor as soon as possible and provide an explanation. The assigned readings for each lecture should be read prior to the lecture. We can randomly call on students to answer questions about the assigned readings and have unannounced short quizzes at the beginning of class. Here is a suggestion: as you read the assigned readings, write down 2 or 3 things that strike you about the reading, such as some key findings, interesting arguments, questions you have etc. Then review your notes once you arrive in class.

You are expected to actively engage in class by asking questions, making comments, sharing ideas, etc. Learning is a two way road and the more you participate in class, the more the instructors will learn about how well you understand the material being presented, how to tailor and focus the course material, etc. An important component of your learning experience at DIS is the study tour visits we will undertake which are integrated into this course. In order to maximize the learning experience from the visits, there will be a study tour assignment connected with these visits. Further instructions on the study tour assignment will be posted early in the semester.

There will be four different kinds of deliverables/evaluations besides general participation: 

- a research project and presentation

- a country analysis including a group presentation

- 10 quizzes distributed during the course

- 2 study tour presentations in class

The research project is where you individually or in a group embark early on in the semester by identifying a well-defined research question and methodology for working on the research along the semester. The objective is to apply a sound academic research approach and show ability to analyze and synthesize knowledge, empirics from study tours and theories.

The country analysis is undertaken in groups where you work together on a risk assessment of a chosen country. Here students apply and synthesize their knowledge into a real-life and concrete risk assessment.

The 10 quizzes are submitted electronically during the course.

Before and after study tours students are divided into groups that present visits and debrief on visits after return to Copenhagen.

Computer policy: Laptops are not necessary and encouraged in class or during visits and study tours. ONLY reason for bringing laptops is for presentations or specific for note-taking or research purposes. Any other use will have a negative impact on your final grade.

Academic Regulations  

Please make sure to read the Academic Regulations on the DIS website. There you will find regulations on: 

 DIS - Study Abroad in Scandinavia -

Academic Excellence Award: Each semester we recognize one outstanding student from the Global Economics Program. It is reserved for a student who has distinguished him- or herself through diligence, commitment, academic performance, and ideally a student who contributes to a good, collaborative learning environment in class.

Course Summary:

Date Details Due