Global Economies and Markets (GEM) area faculty apply the ideas and methodologies of economics to the analysis of the business environment in which firms operate and managers make decisions. The research in the GEM area focuses on economic and market institutions, financial markets, economic development, industry economics, public policy and applied economics more generally.
In the First Year course, GEM expands students’ knowledge of global economies and markets in three dimensions. First, it delivers insights and tools for analyzing markets in the global economy by studying topics including competition, market structure, efficiency, industry equilibrium and change.
Second, it provides tools and concepts for analyzing the performance of national economies by focusing on the economic and political forces that shape production, trade flows, capital flows, interest rates, exchange rates and other variables that define the global economic landscape.
Third, it applies the tools of international trade and finance to broaden students’ perspectives on how globalization affects the performance and strategies of nations and firms.
The ultimate objective of the GEM area is to help students develop frameworks for analyzing both opportunities and risks when operating in the global business environment.