Course Title: Denmark and the European Union
Part A: Course Overview
Course Title: Denmark and the European Union
Credit Points: 24
625H Economics, Finance and Marketing
Course Coordinator: Dr Foula Kopanidis
Course Coordinator Phone: +61 3 9925 5475
Course Coordinator Email: firstname.lastname@example.org
Course Coordinator Location: Bld. 80, Level 11
Course Coordinator Availability: By appointment only
Pre-requisite Courses and Assumed Knowledge and Capabilities
The internationalization of business has become increasingly important over the past three decades. From the relatively uncomplicated import and export transactions that primarily characterized ‘international’ business in the 1950’s and 1960’s, to the complex world of international financial and management practices currently undertaken by multinational companies, the business environment has evolved into a challenging, and often unpredictable, setting.
Notwithstanding the international nature of business, individuals often see the world from an ethnocentric perspective. Their view of the rest of the world is tinted by their experiences in their home country, in their home city. As a result, business practices may be one-dimensional, lacking the depth and expertise of a global standpoint.
One of the major objectives of this course is therefore to sensitize students to ethnocentrism and develop students’ understanding of cross-cultural differences. They will expose students to an environment that is significantly dissimilar to that of Australia and /or Asia. It will encourage students to see the world from different academic and business perspectives. As students, they will experience a university system that is unlike to that they know, while as potential business graduates, they will encounter practices that will broaden their knowledge and skills.
The establishment of the European Union (EU) and the introduction of the euro have transformed the international monetary system and the operation of international business. The EU represents more than 304 million inhabitants (cf. 284 million for the US and 127 million for Japan, 21% of world gross national income (cf. 31% for the US and 14% for Japan) and it is the second largest economy and financial market after the US. As a consequence, the unification of Europe has transformed the nature international business.
From an EU Member State perspective, the introduction the euro has provided several benefits. First, the euro has been beneficial for the States’ economies, bringing in particular stability, low interest rates and zero exposure exchange rate risk. Second, the euro has cut the cost of doing business and simplified cross-border trade. Third, the euro has resulted in greater competition and a wider choice of goods and services, stable prices and lower interest rates for the consumer. Finally, the euro has made traveling cheaper and easier by eliminating currency exchange charges.
Australia has significant interest in developments in the EU since it is one of Australia’s largest economic partners. Due to the increased economic stability in Europe, the EU is now a better trading partner. It provides new and easier trade opportunities for Australian companies and subsidiaries of Australian firms operating in the euro zone benefit from the absence of transaction costs and foreign exchange risk.
The combination of one market and one currency has greatly increased business opportunities in the EU by both broadening access to the EU market and by simplifying operating rules and costs. The expansion of the EU to include several countries from Central and Eastern Europe will result in a consumer market of over 480 million people. This will again increase trade opportunities for Australian firms.
Another major objective of this course is to enhance and broaden students’ knowledge and understanding of the European Union. In order to successfully attain this knowledge and understanding, students will study various aspects of the Danish economy, the country’s political and financial system and its cultural development, as well as the development and evolution of the European Union.
Objectives/Learning Outcomes/Capability Development
The Learning Outcomes of this course include:
- Analyse culturally variable business practices using an appropriate analytical model;
- Analyse your own attitudes, values, beliefs and prejudices;
- Identify potential barriers in cross-cultural communication;
- Assess the influence of cultural factors on the individual, on business and on professional behaviour;
- Analyse economic, business and financial systems;
- Ability to work effectively in multi-disciplinary teams.
Overview of Learning Activities
Specifically, the learning activities are:
- Identify and investigate selected aspects of Australian business practices and compare these to European business practices;
- Record observations and reflect on personal experiences identifying similarities and differences in the cultural approaches and interpretations of social and teaching and learning practices;
- Reflect upon the processes of cultural and social adjustment involved in living and studying in another culture;
- Investigate their cultural assumptions and their practices, and identify their effect on others;
- Report on an analysis of the destination country in the context of the European Union, incorporating both cultural and business dimensions;
- Attend and participate in lectures and/or site visits in European location; &
- Participate in workshop discussions and/or online discussions.
Overview of Learning Resources
Various learning resources are available online through myRMIT/Blackboard. In addition to topic notes; assessment details and a study schedule you may also be provided with links to relevant online information; readings; audio and video clips and communication tools to facilitate collaboration with your peers and to share information.
Resources are also available online through RMIT Library databases and other facilities. If you require assistance with the RMIT library facilities contact the Business Liaison Librarian for your school. Contact details for Business Liaison Librarians are located online on the RMIT Library website.
Additional resources and/or sources to assist your learning will be identified by your course coordinator will be made available to you as required during the teaching period. There is no prescribed textbook for this Program. However you will find a list of useful websites and textbooks in Part B.
Overview of Assessment
Assessment tasks may include:
Group assignment & presentation.
Exams x 2
Assignments x 2
GOTEBORG, Sweden -- European Union leaders warned Britain Friday that it must do much more to convince them that Brexit talks should be broadened to cover future relations and trade from December.
At an EU summit in Sweden, Prime Minister Theresa May's government was urged to clarify how much Britain will pay in settlement of its financial accounts with the bloc and to ensure that there is no hard border created between Ireland and Northern Ireland.
Britain is due to leave the EU on March 29, 2019, but it must complete the complex and unprecedented departure process by next October so that parliaments can ratify any agreement.
May desperately wants to discuss future relations and trade, and EU leaders have suggested they could be ready to expand the talks next month if "sufficient progress" is made on the divorce bill, the status of Irish borders and the rights of citizens hit by Brexit.
"Great Britain need to clarify what they mean with the financial responsibility," the summit host, Swedish Prime Minister Stefan Lofven, told reporters in the city of Goteborg.
"We all hope that we can decide on the next phase but we still have some way to go," he said.
Britain has suggested that it might be willing to pay 20 billion euros ($23 billion US) to fulfil its financial commitments, while EU officials have said the figure would more likely be between 60 and 100 billion euros ($71-118 billion US).
Irish Prime Minister Leo Varadkar said there is no chance of progress unless he gets clear guarantees that Brexit will not result in any new barriers between his country and Northern Ireland, which is part of the U.K.
"We've been given assurances that there will be no hard border in Ireland, that there won't be any physical infrastructure, that we won't go back to the borders of the past," Varadkar said. "We want that written down in practical terms in the conclusions of phase one."
"It's 18 months since the (Brexit) referendum. It's 10 years since people who wanted a referendum started agitating for one. Sometimes it doesn't seem like they've thought all this through," he said, of May's government.
The British government insists that the preliminary issues and future relations are inextricably linked and should be discussed together, and May remained hopeful that she will get the green light from EU leaders at their next summit in Brussels on Dec 14-15.
"Of course we want to move forward together, talking about the trade issues and trade partnership for the future," she said.
"I look forward to the European Union responding positively to that so we can move forward together and ensure that we can get the best possible arrangements for the future."
This EU summit in Sweden is ostensibly about employment and social welfare, but May has been using her visit to hold bilateral talks on Brexit with several leaders, including Lofven, Varadkar and EU Council President Donald Tusk.
Brexit negotiations are bogged down over preliminary issues, and the EU's chief Brexit negotiator has warned that progress must be made within the next week, by Nov. 24, to have any hope of broadening the talks this year.
"The clock is ticking," European Commission President Jean-Claude Juncker said Friday. "I hope that we will be able to come to an agreement as far as the divorce is concerned in the December (EU) council but work has still to be done."