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EMBA 639 The Global Environment
Spring 2012
Midterm Exercise

Distributed: 10pm, Sunday May 20
Due time: 11pm, Sunday, May 27

Instructions
This is an open-book, take-home individual assignment. You may refer to your notes, books, even reading materials online, but you are not allowed to consult, discuss or speak with anyone else about this assignment. Violation of any of these conditions will result in your failing the course. Type your answers on the Answer Page (attached with this assignment). Keep your answers brief and to the point; do not type beyond the answer page (1 page for answers to all the questions; single-spaced, 11-point font, with 1-inch margins). You do not have to copy the questions onto your Answer Page, but please mark your answers clearly. Write your minute memo on the second page of the same file. ** Save the answer page using your full name as the file name. For example, my answer file will be named “Minyuan Zhao.doc” or “Minyuan Zhao.docx”. Upload your answer file to CTools (the same place where you downloaded the questions). Late submissions will not be accepted. * * *

You are a consultant of the large pharmaceutical company RossRx, which is known for its innovative new drugs targeting the premium markets. Currently the company is producing and selling its products in the U.S. only, but it is thinking of expanding its sales in Russia. Please answer the following questions. 1. Russia is a major exporter of oil and natural gas, and its economic growth over the past decade has been driven primarily by energy exports. In recent weeks, the price of crude oil has been increasing rapidly amid fears that political tension in the oil exporting countries may potentially disrupt energy supplies. Everything else being equal, how would the increase in oil price affect the value of Russian ruble? Note that oil prices are set on the global market. [4 points] 2. Meanwhile, inflation has come down significantly in Russia, after hit a...
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