The aim of the course is to familiarize students with the economic characteristics and structures of the most important countries in the European economy. The course focuses on a comprehensive analysis of the characteristics of the most significant European economies—France, the United Kingdom, Germany, Italy, and Spain. In addition to historical background, current sectoral characteristics and global economic relationships are also presented. A key focus is placed on introducing the leading companies in the national economies of these key countries, describing their roles in the global economy, and reviewing their international relationships. Particular emphasis is placed on the economic role of each analyzed country within the European Union, as well as on the economic interests of the focus countries in Hungary, the opportunities available to Hungarian economic actors in the markets of those countries, and the potential for building relationships with key companies.
Centers of gravity in European economics (MANGBAN-CENGRECO-1)
Basic data
Instructors
Course objectives
Course content
Lectures
1. The European Union’s Economy in the Global Economy, Key Economies of the European Union 2. Italy’s Economy – Historical Perspectives and Current Structure 3. Italy’s Economy – Key Companies, the Italian Economy in the International Arena 4. The French Economy – Historical Perspectives and Current Structure 5. The French Economy – Key Companies, the Italian Economy in the International Arena 6. The Spanish Economy – Historical Perspectives and Current Structure 7. The Spanish Economy—Key Companies, the Italian Economy in the International Arena 8. The German Economy—Historical Perspectives and Current Structure 9. The German Economy—Key Companies, the Italian Economy in the International Arena 10. The Economy of Great Britain—Historical Perspectives and Current Structure 11. The Economy of Great Britain—Key Companies, the Italian Economy in the International Arena 12. The Economic Role of Key Countries in the Hungarian Economy 13. Opportunities for Hungarian Businesses in the Economies of Key Countries
Acquired competences
Knowledge
- Possesses knowledge of the fundamental, comprehensive concepts, theories, and facts of economics, as well as their national and international contexts, with regard to relevant economic actors, functions, and processes. - Knows and understands the basic principles and methods of managing, organizing, and operating economic processes; the methodology for analyzing economic processes; and the methodological foundations of decision preparation and decision support. - Possesses a command of the fundamental professional vocabulary of economics in their native language and in at least one foreign language.
Skills
- By applying the theories and methods learned, the student identifies, organizes, and analyzes facts and fundamental relationships; formulates independent conclusions and critical observations; prepares recommendations to support decision-making; and makes decisions in both routine and partially unfamiliar contexts—both domestic and international. - Monitors and interprets global economic and international business processes, as well as changes in economic policy and relevant sector-specific policies and legislation, and their impacts, taking these into account in their analyses, recommendations, and decisions. - Is capable of determining the complex consequences of economic processes and organizational events.
Attitude
- Is receptive to new information, new professional knowledge, and methodologies, and is open to taking on new tasks and responsibilities—whether independent or requiring collaboration. Strives to develop their knowledge and professional relationships, collaborating with colleagues in this effort - Is open to changes in the broader economic and social environment of their specific job, work organization, and company, and strives to keep up with and understand these changes. - Is receptive to the opinions of others and to sectoral, regional, national, and European values (including social, ecological, and sustainability considerations).
Autonomy and responsibilities
- Takes responsibility for their analyses, conclusions, and decisions. - - Takes responsibility for complying with professional, legal, and ethical standards and rules related to their work and conduct. - Gives presentations and moderates discussions independently. Participates independently and responsibly in the work of professional forums both within and outside the organization.
Additional professional competences
No further professional competencies were identified.
Requirements, evaluation and grading
Mid-term study requirements
There will be one exam during the semester.
Exam requirements
The course concludes with a written exam.
Generative AI usage
Use of GAI tools is not permitted for solving assignments. This means GAI tools cannot be used to complete formative or summative assessments, and using GAI constitutes academic misconduct. The use of AI tools for spelling and grammar checking does not fall under this prohibition.
Study aids, laboratory background
It is not relevant in this subject.
Readings
Compulsory readings
European Economic Community. https://trade.ec.europa.eu/access-to-markets/en/glossary/european-economic-community
Recommended readings
Liuhto, Kari. (2023). The EU and its external economic relations. 10.13140/RG.2.2.14704.94728.