Course Title: Denmark and the European Union

Part A: Course Overview

Course Title: Denmark and the European Union

Credit Points: 24.00

Important Information:

This course requires permission to enrol. Carefully read the instructions below. 

To be eligible for this program, students must have successfully completed at least one semester of study, or four courses at RMIT, whichever is greater. You must also have the requisite free elective space, and not be ‘At Risk’ in your program. 

Students should register themselves on Mobi at https://outbound.rmit.edu.au/index.cfm?FuseAction=Programs.ViewProgramAngular&id=10425

If the student meets the course requirements, all applications will be approved based on enrolment spaces available.


Terms

Course Code

Campus

Career

School

Learning Mode

Teaching Period(s)

BAFI2100

City Campus

Postgraduate

625H Economics, Finance and Marketing

Face-to-Face

Summer2007,
Sem 1 2016,
Summer2017

Flexible Terms

Course Code

Campus

Career

School

Learning Mode

Teaching Period(s)

BAFI2100

City Campus

Postgraduate

625H Economics, Finance and Marketing

Face-to-Face

PGRDFlex17 (ZZZZ)

BAFI2100

City Campus

Postgraduate

625H Economics, Finance and Marketing

Face-to-Face

PGRDFlex18 (ZZZZ)

Course Coordinator: Dr Foula Kopanidis

Course Coordinator Phone: +61 3 9925 5475

Course Coordinator Email: foula.kopanidis@rmit.edu.au

Course Coordinator Location: Bld. 80, Level 11

Course Coordinator Availability: By appointment only


Pre-requisite Courses and Assumed Knowledge and Capabilities

None.


Course Description

General:

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.

Specific:

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:

CLO1. Analyse culturally variable business practices using an appropriate analytical model;

CLO2. Analyse your own attitudes, values, beliefs and prejudices;

CLO3. Identify potential barriers in cross-cultural communication; 

CLO4. Assess the influence of cultural factors on the individual, on business and on professional behaviour;

CLO5. Analyse economic, business and financial systems; 

CLO6. 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 Studies\Canvas. The lecture notes and workshop notes are posted on Canvas.

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 and will be made available to you as required during the teaching period. 


Overview of Assessment

The assessment tasks, their weighting and the course learning outcomes to which they are aligned are as follows:

Melbourne-Based Assessments: 60%

Assessment Task 1: 15%
Linked CLOs: 2, 3, 4

Assessment Task 2: 20%
Linked CLOs: 1, 2, 3

Assessment Task 3: 25%
Linked CLOs: 1, 3, 4, 5

Off Shore Assessment Tasks: 40%
Linked CLOs: 1, 2, 3, 4, 5, 6

40% of the assessment task will be managed by the Aarhus BSS International. Details of the assessment tasks will be provided by the teaching team in Aarhus. The assessment is designed to examine students’ understanding of the theoretical and practical issues explored and developed during the European study experience.