INBS 580 - Business and Management in BRIC Countries

This course will examine the market dynamics and political economies of the BRIC countries with particular attention to international trade, FDI, and the nations’ probable future impact on the developing and developed worlds. The acronym BRIC was coined by a Goldman Sachs economist in 2001. The term refers to four countries (Brazil, Russia, India, and China) that were perceived to be likely to develop the world’s next biggest economies by 2050. Together, the BRIC countries include 40% of the world’s population and encompass about one quarter of the earth’s land mass. The four economies in aggregate contributed more than a third of global GDP growth during the past decade and constitute 25% of the world economy in terms of purchasing power parity. The term BRIC has become popular in the global media as well as by the leaders of these countries. The acronym has often been used to suggest a shift in global economic power away from the USA and the other G7 economies towards these four emerging nations. Although the BRIC countries have experienced remarkable economic growth during the past decade, the road has not been smooth nor is it likely to be in the future.

Credits: 3