Compulsory

1

Teaching Hours and Credit Allocation: 30 Hours, 6 Credits

Course Assessment: Exam & Coursework

Internationalization of economic activities is an undeniable fact. Therefore, extroversion is a crucial, unavoidable aspect of modern socioeconomic development. Moreover the deep structural modifications of the nature and the functioning of world markets demand accordingly updated strategies and applied policies for states and firms.

In the light of the supranational trade agreements and networks, as well as the historically and politically induced liberalization of cross-spatial relations, the applied commercial policy mix in the regional and national political level gradually moves away from protectionist towards proactive measures.

On the other hand, the longer lasting trend of increasing productivity changed the focus of modern society from the supply side and the expansion of quantitative scales to the covering of the continuously differentiating private and social needs and the widening of qualities. This led to a deep restructuring of firms’ extroversion strategies, by presenting new threats but also new opportunities for small and medium sized producers as well.

The aim of this module is to analyze in detail the above trends, to enable students to understand the significance of horizontal and vertical (comparative) advantages, the quality vs. quantity dilemma, the gradual prevalence of intra-sectoral trade and outsourcing, the intensified interconnections of foreign investments and trade flows, and to move finally to the discussion of the most advanced alternative strategies for extroverted development, both for the firm, as well as for the local economy.