Understanding today’s global economy requires insights from both economics and business studies. The specialisation International Economics & Business (IE&B) combines both fields of analysis, focusing on their relevance for firms that operate in an international environment. What are the consequences of developments in financial markets for a firm’s risk management and finances? How does the success of a cross border merger or acquisition depend on differences in institutions and cultures between host and parent countries? By studying the latest articles and applying modern empirical methods, you will address these and other aspects in depth, guided by professors carrying out research in these fields.
See the website http://www.ru.nl/masters/ieb
Why should you choose International Economics & Business in Nijmegen?
- A broad perspective on issues that are relevant for globally operating firms
- A focus on recent scientific insights and modern methods of applied research
- An excellent reputation in the Netherlands and abroad
- Small group teaching and close contact with professors and their research
- Good career prospects across the world
Because we combine the latest economic theories with the cultural aspect of doing international business, graduates will understand that doing business requires more than an understanding of economic principles. They will be able to give their future employees a new and fresh look on the process of globalisation and how their company can manoeuvre and position themselves in multiple countries.
One of the most important skills graduates of the Master’s specialisation in International Economics and Business will acquire is to report independently and thoroughly on various issues within the broad realm of international business. You will learn to include empirical and theoretical studies as well as the outcomes of your own independent research, not as a means to an end but in as far as it is relevant to the given advice. In other words, creating a policy paper of academic quality that is both understandable and practicable for businesses. And in order to remain a strong, self-sufficient professional you will learn how to continually maintain a critical attitude towards your own work and that of others in your field.
Our graduates have the necessary knowledge and skills to be able to work for large and medium sized international companies, consultancy firms, government and not-for-profit organisations, banks or within research or education. In particular, it will be multinational enterprises and consultancy firms that advise on international mergers and acquisitions, that will be very interested in your skills and know-how after completing the International Economics and Business Master’s specialisation.
Our approach to this field
The Master’s specialisation International Economics & Business looks at all aspects of both international financing as well as international entrepreneurship, of both the flow of capital as well as the flow of trade.
- International financing
Students will study the latest developments in financial markets, monetary policy, exchange and interest rates along with their consequences for the risk management and finances of firms. Should a firm seek its financial backing for an international expansion in the parent or host country? To answer this question you will not just need knowledge of exchange rates and such but also need to understand the economic system of the host country. The type of service/product a firm has to offer often determines the course of action. Can financial backing for a certain sector be gotten at banks or is it more likely to be gotten in the form of private equities?
- International entrepreneurship
As for international entrepreneurship, students will take an in-depth look at different options for expanding abroad: opening branches or factories, outsourcing, mergers and acquisitions and joint ventures. Students will deliberate the pros and cons of certain options. Is a joint venture desirable, or, as is the case in China, is it mandatory? What could hinder a merger? What activities could we outsource abroad without quality loss?
- Differences in institutions and culture
Students will come to understand that the success rate of cross border business is not just about economic principles but is also influenced by differences in institutions and culture of host and parent countries. Therefore, besides the firm's profitability, this Master’s specialisation also focuses on the differences in formal rules (institutions) and informal customs and forms of communication (culture). These aspects are relevant for almost all international organisational activities.
Important to note is that this Master’s specialisation is about the multinational firm and the economic, social and political environment it has to operate in. It is not about internal organisational processes, such as personnel management or account management. We focus on issues concerning global marketing and understanding the general international arena that these companies engage in. This knowledge enables students to determine if expansion to certain regions and economic systems is feasible or even desirable. Can we protect our intellectual property in country X? Is a joint venture our best option or is it our only option?
See the website http://www.ru.nl/masters/ieb
Dutch Bachelor’s degree(or the equivalent from a research university) in Economics or a closely-related discipline,with a number of courses in preferred area of specialisation. Non-native speakers of English must submit one of the following: a TOEFL (iBT) Certificate with a minimum overall score of 90 and subscores not lower than 18; OR an IELTS Academic Certificate with a minimum overall score of 6.5 and subscores not lower than 6.0; OR a Cambridge Certificate of Advanced English (CAE) with a minimum score of C; OR a Cambridge Certificate of Proficiency in English (CPE) with a minimum score of C.