What is International Business? And how is it different from international economics?

11/07/2024

The International Business major provides in-depth knowledge and skills, opening up many attractive career opportunities in the global business environment. Currently, there are many students who cannot distinguish between international business and international economics, especially 12th grade students who are choosing to register for their university major. Join DMU to find out what international business is and how it is different from international economics!

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1. What is International Business?

International Business is a field of study and research that focuses on business activities occurring on a global scale. Students in this major will gain the knowledge and skills necessary to navigate the challenging and opportunity-filled international business environment.

1.1 Concept of the International Business Industry

International Business encompasses business activities that transcend national borders, including management, marketing, finance, and logistics in a global context.

1.2 Objectives of International Business

Comprehensive Knowledge: Students will master the concepts and skills essential for success in international business.
Management Skills: Learn how to manage and operate businesses in multicultural and multinational environments.
Strategic Thinking: Develop the ability to analyze and construct global business strategies.

1.3 Main Courses in International Business

International Business Administration: Learn to manage and operate businesses in an international context.
International Marketing: Understand global marketing and advertising strategies.
International Finance: Master concepts of international finance and investment.
Logistics and Supply Chain: Manage supply chains and logistics in global business.

1.4 Career Opportunities in International Business

Import – Export Specialist: Manage international trade activities.
International Marketing Specialist: Develop and implement global marketing strategies.
International Finance Specialist: Consult and manage international financial and investment activities.
International Logistics Management: Coordinate and manage global supply chains.

1.5 Benefits of Studying International Business

Job Opportunities: The global economy’s growth increases the demand for professionals with international business skills.
Attractive Income: Positions in international business often offer high salaries and good advancement opportunities.
Diverse Cultural Experience: Working internationally allows you to understand and experience various cultures.

2. What is International Economics?

International Economics is a field of study that focuses on economic activities crossing national borders. This field examines international trade, finance, investment, and economic policies.

2.1 Concept of International Economics

International Economics studies the economic activities that cross national borders, covering international trade, finance, investment, and economic policies.

2.2 Objectives of International Economics

The major aims to train experts with in-depth knowledge of the global economy, capable of analyzing and forecasting economic trends, and applying international economic policies to promote sustainable economic development.

2.3 Main Courses in International Economics

Micro and Macro Economics
International Finance
International Commerce
International Economic Policy
Risk Management in International Business

2.4 Career Opportunities in International Economics

Graduates can work at international financial institutions, multinational companies, NGOs, or government agencies as economic analysts, strategic consultants, or project managers.

2.5 Benefits of Studying International Economics

In-Depth Knowledge: Gain a comprehensive understanding of the global economy.
Analytical Skills: Improve your ability to analyze and solve problems.
Networking: Expand your international relationships.
Soft Skills: Develop communication, teamwork, and time management skills essential for success.

3. Difference Between International Business and International Economics

	International bussiness	International economy
Objectives and Scope of Research	International Business: Focuses on managing and growing businesses globally, covering strategy, management, marketing, and logistics.	International Economics: Analyzes economic activities between countries and their impacts, covering international trade, finance, and economic development.
Practical Application	International Business: Applies to global business management and development, creating effective international business strategies.	International Economics: Applies to research and development of economic policy, making decisions regarding international trade and finance.
Research Subjects	International Business: Focuses on businesses and their activities in international markets.	International Economics: Focuses on countries, economic policies, and global economic phenomena.

4. International Business at Hoa Sen – De Montfort International Joint Program

4.1 Training Time

Duration: 3 years (excluding 1 general year), 2 semesters per year. Training is conducted in English.
Career Opportunities: Opens global career opportunities.
Knowledge: Students gain insights into multinational companies, emerging markets, and practical geography and socio-economics.
Soft Skills: Cultivated through guest lectures, field trips, and case studies.
Career Success: Graduates hold key roles in large companies such as Rolls Royce, IBM, Walt Disney, the NHS, and Siemens.
Education Strategy: Designed according to DMU’s Education Strategy 2030, simplifying the timetable to focus on one subject at a time.

4.2 Education program

Year 0	Year 1	Year 2	Year 3
IYZ	International Business	International Business	International Business
English for Academic Purposes 1	Global Business Environment	Multinational Enterprise in the Global Economy	International Business Strategy and Governance
English for Academic Purposes 2	Business Dynamics, Ethics and Culture	Data Analytics and Research Skills	International Trade Management
Academic and Study Skills	Economics on Global Business	International Organizational Behaviour and Leadership	Choose 1 of the 2 following subjects:
Maths Study Skills: Quantitative Methods	Marketing for International Business	Choose 1 of the 2 following subjects:	Emerging Markets: Economic Geography and Trends
The Context of Business		International Supply Chain Management	Dimensions of Digital Transformation
		International Financial Management and Decision Making	Choose 1 of the 2 following subjects:
			Dissertation
			Project

5. Summary

International business and international economics both play crucial roles in globalization. International business focuses on effective global business operations, while international economics studies economic principles and policies between countries. If you are interested in international business, follow this page for more information about the Hoa Sen – De Montfort International Affiliate Program! Register here for more information about the program.

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CONSULTATION CONTACT: Hoa Sen – De Montfort Program (Institute of International Education)

? Address: Room 1007, 10th floor, 08 Nguyen Van Trang, Ben Thanh Ward, District 1, Ho Chi Minh City
☎️ Phone: 028 7309 1991 (Ext: 4792)
? Hotline: 0888 275 276
? Email: demontfort@hoasen.edu.vn
? Website: www.hoasen.edu.vn/demontfort/