BASIC SUBJECTS

1. PHILOSOPHY (TRIẾT HỌC)

 Definition: is science studying general and fundamental problems regarding to human and the world, such as
those connected with reality, existence, knowledge, values,reason, mind, and language.
 Discrimination(phân biệt): Philosophy is distinguished from other ways of addressing [cách giải quyết vấn
đề] such problems by its critical, generally systematic approach [tiếp cận có hệ thống và phản biện] and its
reliance on rational argument [lập luận có lý lẽ].
 Philosophy can refer to the most basic beliefs, concepts, and attitudes of an individual or group.
 Classification (phân loại):
Many sub-fields: epistemology [nhận thức luận - knowledge], logic [reasoning, argument], metaphysics [lý
thuyết luận – reality; objects and their properties], ethics [đạo đức – morality], and aesthetics [mỹ học –
beauty, art].
 Purpose of studying:
PHILOSOPHY is a study that seeks to understand the mysteries of existence and reality [hiểu sự tồn tại và
hiện thực].
+ To discover the nature of truth and knowledge and to find what is of basic value and importance in life.
+ To examine the relationships between humanity and nature and between the individual and society.
 Philosophy is thus form of inquiry--a process of analysis, criticism, interpretation, and speculation.

2. POLITICAL ECONOMICS [KINH TẾ CHÍNH TRỊ]

 Definition: is social science subject studying the relationship between economy (production, trade) and
politic (law, custom and government) [mối quan hệ kinh tế và chính trị] and the distribution of national
Income and Wealth [phân bổ tài sản quốc gia].
 Political economics is the economics in the view of politicians.
 Purpose of studying (mục đích nghiên cứu):
+ Focus on the social – economics phenomena -> establish the general rules.
+ Apply the rules in reality to develop the economy of a nation.
 Approaches [cách tiếp cận]: 4 ways to approach
- Power is the center[quyền lực là trung tâm]=classical political economics [kinh tế chính trị cổ điển]:
way to obtain the power in the economy.
- Society is the center[xã hội là trung tâm]=Marx-Lenin political economics [kinh tế chính trị Mác
Lenin]: social benefits.
 - State is the center [nhà nước là trung tâm] = Neo-political economics, Keynes political economics
[kinh tế học tân cổ điển; kinh tế học Keynes]: politic ~ state; economy ~ market -> the balance between
market and state; state controls the market to achieve its purpose.
- Right is the center [chính nghĩa là trung tâm] = modern political economics: a system of rights (the
most essential= right of possession) -> how the state, political decisions can affect this system of rights.
 Extent of studying (phạm vi nghiên cứu): production [sản xuất], factors [tư liệu sản xuất], distribution
[phân phối], exchange [trao đổi].

3. SOCIOLOGY (XÃ HỘI HỌC)

 Definition: is the scientific studying of human social behavior and its origins, development, organizations,
and institutions.
 Researching methodologies: various methods:
+ Empirical investigation [nghiên cứu theo lối kinh nghiệm]: a way of gaining knowledge by means of
direct and indirect observation or experience.
+ Critical analysis [phân tích biện chứng]: study the reason and the outcome of the issues.
+ Quantitative designs [Định lượng] approach social phenomena through quantifiable evidence, and often
rely on statistical analysis of many cases (or across intentionally designed treatments in an experiment) to
create valid and reliable general claims. The bigger the sample is, the more accurate the result is.

 to develop a body of knowledge about humansocial actions, social structure and functions. [cấu
trúc và chức năng xã hội]
 Purpose of studying (mục đích nghiên cứu): Information to create the social policy and welfare.
 Studied objects(đối tượng nghiên cứu): Subject matter ranges from the micro level of
individual agency and interaction to the macro level of systems and the social structure.
 Scopes and topics: culture, art, music and literaturem; criminality, deviance, law and punishment;
Communications and information technologies; Economic sociology.

4. STATISTICAL THEORY (LÝ THUYẾT THỐNG KÊ)

 Definition: The theory of statistics provides a basis for the whole range of techniques, in both study
design and data analysis, that are used within applications of statistics. The theory covers approaches
to statistical-decision problems and to statistical inference, and the actions and deductions [sự suy luận] that
satisfy the basic principles stated for these different approaches. Within a given approach, statistical theory
gives ways of comparing statistical procedures; it can find a best possible procedure within a given context
for given statistical problems, or can provide guidance on the choice between alternative procedures.
 Methodology [phương pháp]
- Modelling [mô hình hóa]Statistical models describe the sources of data and can have different types of
formulation corresponding to these sources and to the problem being studied.
- Data collection: [thu thập dữ liệu]Statistical theory provides a guide to comparing methods of data
collection, where the problem is to generate informative data using optimization and randomization while
measuring and controlling for observational error. Optimization of data collection reduces the cost of data
while satisfying statistical goals, while randomization allows reliable inferences.
- Summarising data: [tổng hợp dữ liệu] The task of summarising statistical data in conventional forms
(also known as descriptive statistics) is considered in theoretical statistics as a problem of defining what
aspects of statistical samples need to be described and how well they can be described from a typically
limited sample of data.
- Interpreting data:[diễn giải dữ liệu] Besides the philosophy underlying statistical inference, statistical
theory has the task of considering the types of questions that data analysts might want to ask about the
problems they are studying and of providing data analytic techniques for answering them.
- Applied statistical inference: [áp dụng các suy luận]Statistical theory provides the basis for a number
of data analytic methods that are common across scientific and social research. Statistical theory studies
the consequences of departures from these assumptions.

5. THEORY OF PROBABILITIES AND STATISTICS [LÝ THUYẾT XÁC SUẤT & THỐNG
KÊ]
 Definition: is the branch of mathematics concerned with probability, the analysis of random phenomena
[phân tích các hiện tượng ngẫu nhiên]. The central objects of probability theory are random variables [biến
số ngẫu nhiên], events.
 Standard deviation [độ lệch chuẩn]: In statistics and probability theory, the standard deviation (SD)
(represented by the Greek letter sigma, σ) measures the amount of variation or dispersion [sự biến động và sự
phân tán] from the average. A low standard deviation indicates that the data points tend to be very close to
the mean (also called expected value); a high standard deviation indicates that the data points are spread out
over a large range of values.
σ = √𝑆𝑢𝑚((𝑥(𝑖) − 𝑀𝑒𝑑𝑖𝑎𝑛)2 )/𝑛𝑢𝑚𝑏𝑒𝑟 𝑜𝑓 𝑒𝑙𝑒𝑚𝑒𝑛𝑡𝑠

 Probability [xác suất] is the measure of the likeliness that an event will occur.
+ A probability is a way of assigning every event a value between zero and one.
+ The probability of an event A is written as P(A), p(A) or Pr(A).
+ The opposite or complement of an event A is the event [not A] (that is, the event of A not occurring); its
probability is given by P(not A) = 1 − P(A).
+ Probability of an event happening = Number of ways it can happen / Total number of outcomes
+ Independent events [biến cố độc lập]
If two events, A and B are independent then the joint probability is
P(A 𝑎𝑛𝑑 B) = P(A ∩ B) = P(A) * P(B).
+ Mutually exclusive events [biến cố liên quan lẫn nhau]
If either event A or event B or both events occur on a single performance of an experiment this is called the
union of the events A and B denoted as P(A ∪ B). If two events are mutually exclusive then the probability
of either occurring is
P(A or B) = P(A ∪B)= P(A) + P(B).
+ Not mutually exclusive events [các biến cố không liên quan lẫn nhau]
If the events are not mutually exclusive then

+ Conditional probability
Conditional probability is the probability of some event A, given the occurrence of some other event B.
Conditional probability is written , and is read "the probability of A, given B". It is defined by:

If then is formally undefined by this expression

+ Expected value [giá trị kì vọng]
Suppose random variable X can take value x1 with probability p1, value x2 with probability p2, and so on,
up to value xk with probability pk. Then the expectation of this random variable X is defined as

Since all probabilities pi add up to one (p1 + p2 + ... + pk = 1), the expected value can be viewed as
the weighted average, with pi’s being the weights:

+ Summary of probability [tổng hợp về xác suất]

Event Probability

A
 not A

A or B

A and B

A given B

 Permutation [‚pɜrmjə'teɪʃn-sự hoán vị: các cách sắp xếp n (hoặc k phần tử của n) phần tử theo thứ tự không
lặp]: permutation relates to the act of rearranging, or permuting, all the members of a set into some sequence
or order (unlike combinations, which are selections of some members of the set where order is disregarded).
Pn = n!; P(n,k) = n! / (n-k)!
The number of such -permutations of (cách sắp xếp k phần tử của n: chỉnh hợp bậc k của n) is denoted
variously by such symbols as nPk, Pn,kor P(n,k) and its value is given by the product

which is 0 when k > n, and otherwise is equal to

 Combination [tổ hợp]: a combination is a way of selecting members from a grouping, such that (unlike
permutations) the order of selection does not matter [cách chọn các phần tử không quan tâm đến thứ tự].
The number of k-combinations from a given set S of n elements is often denoted in elementary combinatorics

texts by C(n, k), or by a variation such as , , or even .

C(n,k) = n! / (k!(n-k)!) k=0 or k=n C(n,k) = 1

6. GENERAL INFOMATICS [TIN HỌC CƠ SỞ]

 Definition: Informatics is the science of information. As an academic field it involves the practice of
information processing, and the engineering of information systems. It studies the structure, algorithms,
behaviour, and interactions of natural and artificial systems which store, process, access, and communicate
information.
 Coding language: Pascal is an influential imperative and procedural programming language, designed in
1968–1969 and published in 1970 by Niklaus Wirth as a small and efficient language intended to encourage
good programming practices using structured programming and data structuring. The programs which are
written by Pascal run in MS-DOS.
 Microsoft Windows: is a series of graphical interface operating systems developed, marketed, and sold by
Microsoft.
 Microsoft Office: is an office suite of desktop applications, servers and services for the Microsoft Windows
and OS X operating systems.

BASIC ECONOMIC SUBJECTS

7. LAW [LUẬT ĐẠI CƯƠNG]

 Definition: is a subject studying the system of rules and guidelines which are enforced through social
institutions to govern behavior [để điều chỉnh hành vi]. Laws can be made by legislatures ['ledʒɪsleɪtʃə-cơ
quan lập pháp # law enforcement: cơ quan thực thi pháp luật] through legislation [quá trình lập pháp]
(resulting in statutes ['stætʃuːt-đạo luật]), the executive through decrees [dɪ'kriː-sắc lệnh] and regulations [quy
định], or judges [phán quyết] through binding precedents [tiền lệ rằng buộc] normally in common
law jurisdictions [quyền phán quyết, quyền tài phán]. Private individuals can create legally binding contracts,
including (in some jurisdictions) arbitration agreements that exclude the normal court process. The formation
of laws themselves may be influenced by aconstitution (written or unwritten) and the rights encoded therein.
The law shapes politics, economics, and society in various ways and serves as a mediator of relations
between people.
 The adjudication[/ə,dʤu:di'keiʃn/ - phán quyết] of the law is generally divided into two main
areas. Criminal law [luật hình sự] deals with conduct that is considered harmful to social order and in which
the guilty party may be imprisoned or fined. Civil law [luật dân sự](not to be confused with civil law
jurisdictions above) deals with the resolution [sự giải quyết vấn đề] of lawsuits (disputes) between
individuals or organisations. These resolutions seek to provide a legal remedy [bồi thường pháp lý] (often
monetary damages) to the winning litigant ['lɪtɪgənt, người kiện].
+ Civil law [Luật dân sự], the following specialties, among others, exist:
Contract law [Luật hợp đồng] regulates everything from buying a bus ticket to trading on markets.
Property law [Luật tài sản] regulates the transfer and title of personal property and real property.
Trust lawapplies to assets held for investment and financial security.
Tort law allows claims for compensation if a person's property isharmed.
Constitutional law [hiến pháp] provides a framework for the creation of law, the protection of human rights
and the election of political representatives.
Administrative law [luật hành chính] is used to review the decisions of government agencies.
International law [luật ngoại giao] governs affairs between sovereign states in activities ranging from trade to
military action.
 + Criminal law[Luật hình sự], also known as penal law [/'pi:nl/ luật hình sự], pertains to [/pə:'tein/, liên
quan đến] crimes and punishment. It thus regulates the definition of and penalties for offences found to have
a sufficiently deleterioussocial impact [delɪ'tɪərɪəs; tác động xấu tới xã hội] but, in itself, makes no moral
judgment [phán xét đạo đức] on an offender nor imposes restrictions on society that physically prevent
people from committing a crime in the first place
To implement and enforce the law and provide services to the public by public servants [quan chức; bầy tôi
của nhân dân], a government's bureaucracy [bjʊə'rɒkrəsɪ, cơ quan nhà nước], military, and police are vital.
 Judicial system in Vietnam: [/dʤu:'diʃəl/ hệ thống cơ quan pháp luật VN]
The Vietnamese judicial system is based upon Socialist legality [hệ thống pháp luật XHCN]. The country's
highest judicial organ is the Supreme People's Court (SPC – Tòa án Nhân dân tối cao). The composition [sự
cấu thành] of the SCP includes the Chief Justice [chánh án], Deputy Chief Judge [phó chánh án], jurors
['dʒʊərə - bồi thẩm đoàn] and court secretaries [thư kí tòa].
Below the SPC are district and provincial people’s courts [tòa án nhân dân tỉnh, huyện], military tribunals
[tòa án quân sự], and administrative, economic, and labor courts.
 Constitution [hiến pháp]: a set of fundamental principles and it establishs the structure, procedure, power
and responsibility of a government.

8. VIETNAM ECONOMY[KINH TẾ VIỆT NAM]

 Definition: This is a basic subject which focuses on the history and structure of Vietnamese economy.
 History: The economy of Vietnam is a developing planned economy and market economy. Since the mid-
1980s, through the Đổi Mới reform period, Vietnam has made a shift from a highly centralized planned
economy to a socialist-oriented market economy which use both directive and indicative planning (see Five-
Year Plans of Vietnam). Over that period, the economy has experienced rapid growth. Nowadays, Vietnam is
in a period of being integrated into the global economy. Almost all Vietnamese enterprises are small and
medium enterprises (SMEs). Vietnam has become a leading agricultural exporter and served as an attractive
destination for foreign investment in Southeast Asia.
In 2013:
+ The nominal GDP [GDP danh nghĩa]: US$170.565 billion; GDP PPP (2013): US $ 359.796 billion
+ The nominal GDP per capita [GDP danh nghĩa theo đầu người] US$1,902.; GDP per capita PPP: US $
4.012
+ GDP by sectors: Agriculture: 19.3%, industry: 38.5%, services: 42.2%
+ Population below poverty line: 11.3%.
+ Labor force: 53 mil people. Labour force by occupation: Agriculture: 48%, industry: 21%, services: 31%
 + Forecast in 2005 by Goldman Sachs: become the35th largest economy in the world withnominal GDP of
US$436 billion and nominal GDP per capita of US$4,357 by 2025.
+ Forecast by thePricewaterhouseCoopers in 2008, fastest growth rate by 2025 (10%),get the size = 70% UK
economy by 2050.

Statistics
GDP $170.565 billion (nominal, 2013 est.)[1]
$359.796 billion (PPP, 2013 est.)[1]
GDP growth 4.96% (Q1 2014) [2]
GDP per capita $1,902 (nominal, 2013 est.)[1]
$4,012 (PPP, 2013 est.)[1]
GDP by sector Agriculture: 19.3%, industry: 38.5%, services: 42.2% (2013 est.)
Inflation (CPI) 4.39% (March 2014)
Population belowpoverty line 11.3% (2012 est.)
Gini coefficient 37.6 (2008)
Labour force 52.93 million (2013 est.)
Labour force by occupation Agriculture: 48%, industry: 21%, services: 31% (2012 est.)
Unemployment 2.22% (October 2013)
Main industries paddy rice, coffee, rubber,cotton, tea, pepper, soybeans, cashews, sugar
cane,peanuts, bananas, poultry,fish, seafood
External
Exports $128.9 billion (2013 est.)
Export goods clothes, shoes, marine products, crude oil, electronics,
wooden products, rice, machinery
Main export partners United States 17.8%
Japan 11.8%
China 11.2%
South Korea 5%
Malaysia 4.1% (2012 est.)[3]
Imports $121.4 billion (2013 est.)
Import goods machinery and equipment, petroleum products, steel products, raw
materials for the clothing and shoe industries, electronics, plastics,
 automobiles.
Main import partners China 25.8%
South Korea 13.9%
Japan 10.4%
Singapore 6%
Thailand 5.2%
United States 4.3% (2012 est.)[4]
Gross external debt $68.38 billion (December 2013 est.)
Public finances
Public debt 50.4% of GDP (2013)[1]
Revenues $42.82 billion (2013 est.)
Expenses $50 billion (2013 est.)
Economic aid $2.8 billion pledged (2000)

 Economic sectors:
- Agriculture, fishery and forestry:
+ Forestry: Produced 30.7 milion cubic meters of wood in 2003. During the 1990s, Vietnam began to
reclaim land for forests with a tree-planting program. (tree-planting campaign)
+ Fishing: Long coastline and extensive network of rivers and lakes -> abundant resources. The total catch
was 2.6 million tons in 2003. The main markets of fishing production (shrimp and catfish) areUS and
EUR. Vietnam triggered anti-dumping complaints [kiện bán phá giá] by the U.S, which imposed tariffs in
the case of catfish and was considering doing the same for shrimp.
+ Agriculture: Vietnam is one of the top rice exporting countries in the world, but the quality of products is
not very excellent especially when compare with Thai one.
- Energy, mining and minerals:
+ Petroleum: is the main source of energy, followed by coal, which contributes about 25% of the country’s
energy (excluding biomass). Vietnam’s oil reserves [dự trữ dầu] are in the range of 270–500 million tons.
Crude oil is Vietnam’s leading export, as it exported a total of 17 million tons in 2002. In 2004, crude oil
represented 22% of all export earnings.
Vietnam has a very limited refining capacity. As of 2012, Vietnam had only one refinery, the Dung Quat
refinery (Quang Ngai), but a second one, the Nghi Son Refinery (Thanh Hoa) was planned and was
scheduled for construction in May 2013.
Vietnam’s potential natural gas reserves are 1.3 trillion cubic meters.
 + Mining and Quarrying (khai khoáng): In 2003, mining and quarrying accounted for 9.4% of GDP, and
the sector employed 0.7% of the workforce.
+ Coal: Vietnam’s anthracite coal reserves are estimated at 3.7 billion tons. Coal production was almost 19
million tons in 2003, compared with 9.6 million tons in 1999.
- Industry and manufacturing:
Although the industrial sector contributed 40.1% of GDP in 2004, it employed only 12.9% of the workforce.
From 1994 to 2004, the industrial sector grew at an average annual rate of 10.3%. The top manufacturing
sectors — food processing, cigarettes and tobacco, textiles, chemicals, and electrical goods — experienced
rapid growth.
- Services and tourism:
In 2004, services accounted for 38.2% of gross domestic product (GDP). From 1994 to 2004, GDP
attributable to the service sector grew at an average annual rate of 6.0%. In 2012, Vietnam welcomed 6.8
millions international visitors. In Tripadvisor's list of top 25 destinations Asia 2013 by travelers' choice,
there are four cities of Vietnam, namely Hanoi, Ho Chi Minh City, Hoi An and Ha Long.
- Banking and finance:
Most efficient and reliable banks are the largest (also state-owned) ones: VietinBank, BIDV, and
Vietcombank.
 VietinBank $1.56 billion (32,661 billion VND)
 Agribank $1.39 billion (29,154 billion VND)
 Vietcombank $1.10 billion (23,174 billion VND)
 BIDV $1.10 billion (23,011 billion VND)
 Eximbank $0.59 billion (12,355 billion VND)
Vietnam currently has two stock trading centers, the Ho Chi Minh City Securities Trading Center and
the Hanoi Securities Trading Center, which run the Ho Chi Minh Stock Exchange (HOSE) and the Hanoi
Stock Exchange (HNX), respectively.
 Inflation [lạm phát]:
Vietnam's economy experienced a hyper-inflation [lạm phát phi mã] period in its early years of the extensive
reform program, especially from 1987 to 1992. In 2008, inflation was tracking at 20.3% for the first half of
the year, higher than the 3.4% in 2000, but down significantly from 160% in 1988. In 2010, inflation stood
at 11.5%, and 18.58% in 2011. At the end of 2012, inflation stood at 7.5%, a substantial decrease from 2011.
 Foreign economic relations [thương mại quốc tế]
+ In 2007, Vietnam ran a trade deficit[thâm hụt thương mại] of US$14.1 billion, but the trade deficit for the
first half of 2008 alone was measured at US$14.8 billion.[23]
+ In 2012, Vietnam recorded a trade surplus [thặng dư thương mại] of US$780 million, the first trade surplus
since 1993. Total trade reached US$228.13 billion, an increase of 12.1% from 2011.[28]
 Year Total trade Export (US$ Export Import (US$ Import Account Balance (US$
(US$ Billions) change Billions) change Billions) [Ex- Im]
Billions) (%) (%)
2001 31.20 15.00 16.20 -1.2

2002 36.40 16.70 11.3 19.70 21.6 -3.0

2003 45.20 20.2 21.0 25.2 27.9 -5.1

2004 58.50 26.5 31.2 32.0 27.0 -5.4

2005 69.40 32.4 22.3 37.0 5.7 -4.5

2006 84.70 39.8 22.8 44.9 21.4 -5.1

2007 111.30 48.6 22.1 62.7 39.6 -14.1

2008 143.40 62.7 29.0 80.7 28.7 -18.0

2009 127.00 57.1 -8.9 69.9 -13.4 -12.9

2010 157.00 72.2 26.4 84.8 21.3 -12.6

2011 203.41 96.91 34.2 106.75 25.8 -9.84

2012 228.57 114.57 18.2 113.79 6.6 0.780

2013 263.47 132.17 15.4 131.30 15.4 0.863

Free trade agreement: [thỏa thuận tự do thương mại]Vietnam signed most of their free trade agreements
under the Association of Southeast Asian Nations (ASEAN), and which currently include:
ASEAN Free Trade Area (AFTA)
ASEAN–Australia–New Zealand Free Trade Area (AANZFTA) is a free trade area between ASEAN
and ANZCERTA, signed on 27 February 2009[32] and coming into effect on 1 January 2010.[33] Details
of the AANZFTA agreement are available online.
ASEAN–China Free Trade Area (ACFTA), in effect as of 1 January 2010
ASEAN–India Free Trade Area (AIFTA), in effect as of 1 January 2010
ASEAN–Japan Comprehensive Economic Partnership (AJCEP)
ASEAN–Korea Free Trade Area (AKFTA), in effect as of 1 January 2010
Comprehensive Economic Partnership for East Asia
Vietnam is negotiating to join the Trans-Pacific Strategic Economic Partnership.
- Economic indicators and international rankings:
Organization Title Ranking
Organization Title Ranking

Resilience amid turmoil Bechmarking IT

Economist Intelligence Unit 56 out of 66[36]
industry competitiveness 2009

International Monetary Fund Gross Domestic Product (PPP) 38 out of 182

World Economic Forum Global Competitiveness 70 out of 148[37]

World Bank Ease of Doing Business 99 out of 188

Heritage Foundation/The Wall 147 out of 177 - mostly unfree

Index of Economic Freedom
Street Journal (2013)[38]

116 out of 177

Transparency International Corruption Perceptions Index

9. HISTORY OF ECONOMICS DOCTRINES [LỊCH SỬ CÁC HỌC THUYẾT KINH TẾ]

 Definition: is the social scientific subject studying the development of economic thoughts via the policies,
regulations, works [tác phẩm], economic doctrines, of various classes in the society through many periods of
time. The purpose is to understand the development and the replacement of economic thoughts.
 Studied objects: the system of economic stands [quan điểm kinh tế] of different schools in certain periods of
developing time. -> show the merit and the drawbacks of each economic stands -> how and why it is
replaced.
 Methodology: Analysis in economic history is undertaken using a combination of historical
methods, statistical methods, and by applying economic theory to historical situations and institutions.
 Schools of economic thoughts (trường phái tư tưởng kinh tế):
+ Ancient economic thought [tư tưởng kinh tế cổ xưa]: some thoughts of ancient economist in the early
societies, especially in China and Greek.
+ Islamic economics [kinh tế học theo đạo Hồi]: 8th–12th centuries, Islamic economics is the practice of
economics in accordance with Islamic law.
+ Mercantilism [mɜrkəntɪlɪzm; chủ nghĩa trọng thương]: Economic policy in Europe during the late
Middle Ages [thời trung cổ] and early Renaissance [rə'neɪsəns; thời phục hưng- thế kỉ 14-17] treated
economic activity as a good which was to be taxed to raise revenues for the nobility [giới quý tộc] and
the church [nhà thờ - giới tăng lữ];
* A nation’s wealth depends on accumulated treasure. ->A nation should focus on the international trade
to increase money reserve [dự trữ tiền tệ]
* Gold and silver are the currency of trade.
* Enhanced the power of the government and also weaken the opposite countries.
* A nation should have the foreign trade surplus: (1) maximize the exports by subsidies; (2) minimize
imports through tariffs [thuế nhập khẩu] and quotas [hạn ngạch]
This school of economics also caused many wars to expand the colonies [thuộc địa]. This school firstly
concentrate on the money in 16th century and then the trade balance (export-import)[cán cân thương mại
XNK]in the 17th century.
+ Physiocrats [/'fiziəkræt/ chủ nghĩa trọng nông] – France 18th century: is an economic theory
developed by a group of 18th century French economists who believed that the wealth of nations was
derived from agricultural production rather than circulation and trade.
+ Classical political economy [kinh tế chính trị cổ điển]:Classical economics is widely regarded as the
first modern school of economic thought. Its major developers include Adam Smith, Jean-Baptiste Say,
David Ricardo, Thomas Malthus and John Stuart Mill.
Absolute advantage – Adam Smith: In economics, the principle of absolute advantage refers to the
ability of a party (an individual, or firm, or country) to produce more of a good product or service than
competitors, using the same amount of resources. Adam Smith first described the principle of absolute
advantage in the context of international trade, using labor as the only input.
Comparative advantage – David Ricardo: In economics, comparative advantage refers to the ability of a
party (country) to produce a particular good or service at a lower marginal and opportunity cost over
another.
+ Markxist economics: [kinh tế mác-xít] Marxian economics refers to several different theories and
includes multiple schools of thought which are sometimes opposed to each other, and in many cases
Marxian analysis is used to complement or supplement other economic approaches.
*Commondity: The worth of a commodity can be conceived of in two different ways, which Marx calls
use-value and value.
* Money: metallic money, such as gold, is a commodity, and its value is the labour time necessary to
produce it (mine it, melt it, etc.). Marx argued that gold and silver are conventionally used as money
because they embody a large amount of labour in a small, durable, form, which is convenient. Paper
money is, in this model, a representation of gold or silver, almost without value of its own but held in
circulation by state decree.
* Production:
Marx lists the elementary factors of production as: (1) labour, "the personal activity of man." [Lao động];
(2) the subject of labour: the thing worked on. [đối tượng lao động]; (3) the instruments of labour: tools,
labouring domestic animals like horses, chemicals used in modifying the subject, etc. [tư liệu lao động]
+ Neoclassical economics [tân cổ điển]: is a term variously used for approaches to economics focusing
on the determination of prices, outputs, and income distributions in markets through supply and demand,
often mediated through a hypothesized maximization of utility by income-constrained individuals and of
profits by cost-constrained firms employing available information and factors of production, in
accordance with rational choice theory.Neoclassical economics dominates microeconomics, and together
with Keynesian economics forms the neoclassical synthesis which dominates mainstream economics
today.
Three central assumption:
* People have rational preferences[sự chọn lựa có tính lí trí] between outcomes that can be identified and
associated with values.
* Individuals maximize utility and firms maximize profits.
* People act independently on the basis of full and relevant information.
+ Keynesian economics [kinh tế học Keyney] is the view that in the short run, especially during
recessions [suy thoái kinh tế], economic output [sản lượng] is strongly influenced by aggregate demand
[tổng cầu]. In the Keynesian view, aggregate demand does not necessarily equal the productive capacity
of the economy; instead, it is influenced by a host of factors and sometimes behaves erratically, affecting
production, employment, and inflation.
Keynesian economics focuses on the macroeconomic issues.
+ Modern schools
It begins with the premise that resources are scarce and that it is necessary to choose between competing
alternatives. That is, economics deals with tradeoffs. With scarcity, choosing one alternative implies
forgoing another alternative—the opportunity cost. The opportunity cost expresses an implicit
relationship between competing alternatives.
An immediate example of this is the consumer theory of individual demand, which isolates how prices
(as costs) and income affect quantity demanded. Modern mainstream economics builds primarily on
neoclassical economics, which began to develop in the late 19th century. Mainstream economics also
acknowledges the existence of market failure and insights from Keynesian economics. It uses models of
economic growth for analyzing long-run variables affecting national income. It employs game theory for
modeling market or non-market behavior.

10. ECONOMETRICS [KINH TẾ LƯỢNG]

 Definition: The application of statistical and mathematical theories to economics for the purpose of
testing hypotheses and forecasting future trends.
More precisely, it is "the quantitative analysis [phân tích lượng hóa] of actual economic phenomena
based on the concurrent development [sự phát triển đồng thời] of theory and observation [lý thuyết và
quan sát], related by appropriate methods of inference.
 Step of analysing econometrics:
+ State assumption.
 + Establish a mathematical model.
+ Gathering data.
+ Parameter estimation.
+ Analyzing result.
+ Make decisions.

11. BUSINESS CULTURE [VĂN HÓA KINH DOANH]

 Definition: Business culture is the subject studying the organizational culture – how different staff
communicate with one another as well as how employees deal with clients and customers.
Culture includes the organization's vision, values, norms [bộ quy chuẩn], systems, symbols, language,
assumptions, beliefs, and habits.
 Organization's vision: the projection of a future status of an organization which the organization intends to
achieve.
 Organization’s value: qualities that define people, organizations and products / services.
 Organization’s norm: a set of belief that guide day-to-day interactions and processes; that help to frame
how to make the decision.
 Symbols: is the shortest way for customers to recognize a branch or a company. Therefore it is necessary
that symbols should be able to convey the message that the company want to express.
 Business Ethics: Business ethics (also corporate ethics) is a form of applied ethics or professional ethics that
examines ethical principles[nguyên tắc đạo đức] and moral or ethical problems [vấn đề về đạo đức có thể
phát sinh] that arise in a business environment. It applies to all aspects of business conduct and is relevant to
the conduct of individuals and entire organizations.

12. MACROECONOMICS [KINH TẾ VĨ MÔ]

 Definition: A branch of economics that studies the behavior of the aggregateeconomy [['ægrɪgət]tổng thể nền
kinh tế]. Macroeconomics examines economy-wide phenomena [hiện tượng kinh tế] such as changes in
unemployment, national income, rate of growth, gross domestic product, inflation and price levels to
understand how the whole economy functionl.
 Discrimination [phân biệt]: Macroeconomics is focused on the movement and trends [sự vận động và xu
hướng] in the economy as a whole, while in microeconomics the focus is placed on factors that affect the
decisions made by firms and individuals. The factors that are studied by macro and micro will often
influence each other.
 Purpose of studying [mục đích nghiên cứu]: 2 main things: understanding the business cycle[chu kì kinh
tế] (fluctuations in national income [sự dao động của thu nhập quốc gia]) and the long-run economic growth
[tăng trưởng kinh tế dài hạn] (increases in national income)
 Basic concepts:
+ Output and income [sản lượng và thu nhập]:National output [sản lượng quốc gia] is the value of
everything which a country produces at a given period of time. It is usually measured by the Gross Domestic
Product [Tổng sản phẩm quốc nội] (GDP) which is the total market value of all officially recognized final
goods and services that are produced in a country in period of time ( normally a year). GDP per
capita[GDP đầu người] is considered as one of the measures for standard of living. GNP # GDP, GNP =
Gross National Product [tổng sản phẩm quốc gia = tổng sản phẩm do người mang quốc tịch nước đó sản
xuất, bất kể người đó sống ở đâu]. Gross national product (GNP) is the market value of all the products and
services produced in one year by labor and property supplied by the citizens of a country. Unlike Gross
Domestic Product (GDP), which defines production based on the geographical location of production, GNP
allocates production based on location of ownership.
+ Nominal GDP, PPP GDP and real GDP:
The main difference between nominal and real values is that real values are adjusted for inflation, while
nominal values are not. As a result, nominal GDP will often appear higher than real GDP.
For nominal GDP, price is calculate at the current point of time, while for real GDP, price is calculate at only
one basic point of time. [GDP danh nghĩa tính theo giá tại thời điểm tính, GDP thực tính theo giá năm cơ sở]
Nominal values of GDP (or other income measures) from different time periods can differ due to changes in
quantities of goods and services and/or changes in general price levels.
Values for real GDP are adjusted for differences in prices levels, while figures for nominal GDP are not.
The real GDP = The nominal GDP – Inflation.
PPP GDP[purchasing power parity - GDP theo phương pháp ngang giá]: Applied when trying to compare
purchasing power in two different countries using GDP. The prices in each country are different. And the
exchange rates always change -> Assumption: the prices of a similar basket of goods/services in two
countries are the same (adjust the ratio) -> Compare the output.[Giả thiết các nền kinh tế có cùng giỏ hàng
hóa, với cùng một mức giá -> hệ số giá được điều chỉnh]
+ Methods to calculate the GDP: there’re three ways to determine the GDP of a nation:
(1) Production approach [value added approach]: GDP = Total gross value added = gross value of
output – value of intermediate consumption
(2) Income approach: Total factor income = employee compensation + corporate profits + proprietor's
income + rental income + net interest.

Where
 R: rental incomes [tiền cho thuê đất]
I: interests [lãi suất]
P: profits [lợi nhuận doanh nghiệp]
SA : statistical adjustments (corporate income taxes, dividends, undistributed corporate profits) [điều
chỉnh thống kê]
W : wages. [lương]
(3) Expenditure approach: GDP (Y) is the sum of consumption (C), investment (I), government
spending (G) and net exports (X – M).
Y = C + I + G + (X − M)
+ Unemployment: is measured by the unemployment rate which is the percentage of workers without jobs in
the labor force. Labor force includes workers who are actively seeking for a job.
Types of unemployment (4 loại):
(1) classical: [thông thường] employers do not have enough money to pay for high salaries
(2) frictional: [ma xát, thất nghiệp tạm thời] time to find appropriate jobs
(3) structural: [cấu trúc] technology improves, workers are lack of new skills
(4) cyclical: [tuần hoàn] due to economic growth
+ Inflation and deflation [lạm phát và giảm phát]: a general price increases creates inflation. The opposite
is deflation. Economists measure these changes by the price indexes[chỉ số giá]. Changes in price level may
be result of several factors. The quantity theory of money holds that changes in price level are directly related
to changes in the money supply[giá ảnh hưởng do cung tiền, mang tính dài hạn]. Most economists believe
that this relationship explains long-run changes in the price level.
Short-run fluctuations [dao động ngắn hạn] may also be related to monetary factors [yếu tố tiền tệ], but
changes in aggregate demand [tổng cầu] and aggregate supply[tổng cung] can also influence price level. For
example, a decrease in demand because of a recession can lead to lower price levels and deflation. A
negative supply shock, like an oil crisis, lowers aggregate supply and can cause inflation.
Central banks use monetary policies [chính sách tiền tệ] to stabilize the prices. They try to control the money
supply by buying bonds [trái phiếu, khoản nợ] or issuing bonds.
+ Central bank: A central bank, reserve bank, or monetary authority is an institution that manages a state's
currency, money supply, and interest rates. Central banks also usually oversee the commercial banking
system of their respective countries.
+ Money supply: the money supply or money stock, is the total amount of monetary assets available in an
economy at a specific time. There are several ways to define "money," but standard measures usually include
currency in circulation and demand deposits (depositors' easily accessed assets on the books of financial
institutions).
* M0: The total notes and coins (cash) in circulation. M0 is referred to as the monetary base, or narrow
money. [cung tiền cơ sở, tiền hẹp]
* M1: M0 + Demand deposits [tiền gửi không kì hạn]. Bank reserves are not included in M1. [dự trữ bắt
buộc không được tính vào M1]
* M2: M1 + Savings deposits [tiền gửi tiết kiệm] + time deposits [tiền gửi có kì hạn]. M2 is a key economic
indicator used to forecast inflation.
* M3: M2 + large and long-term deposits [tiền gửi dài hạn, tiền gửi lớn, trái phiếu, tín phiếu].
Money supply & Moneytary base [B - cơ sở tiền]
M(s) = Cu + D = Currency outside banks + Deposits. [tiền mặt lưu thông ngoài ngân hang + Tiền gửi: trong
trường hợp tiền được trao đổi qua lại và gửi đi gửi lại nhiều lần, thì deposits được tính là tất cả các lần đấy
sau khi trừ đi dự trữ bắt buộc cho mỗi lần]
B = Cu + R = Currency outside banks + Reserve (of commercial banks)
B always < M(s)
Ratio between money supply and nominal GDP = M3/nominal GDP
Money multiplier [số nhân tiền]: used to measure this increase in the money supply. mM = M(s)/B. Money
multiplier is affected by two factors: reserve of commercial banks and the ratio of currency outside banks to
deposits.
+ Liquidity [tính thanh khoản]: Liquidity means how quickly you can get your hands on your cash. How
easy to exchange the assest to cash without changing the price.
+ Limitations of GDP and Alternative Measures [hạn chế của GDP và các chỉ số đo lường khác]:
Changes in quality and the inclusion of new goods - higher quality and/or new products often replace older
products. [higher prices – higher quality]
Leisure/human costs - GDP does not take into account leisure time, nor is consideration given to how hard
people work to produce output.
Underground economy - Barter and cash transactions that take place outside of recorded marketplaces are
referred to as the underground economy and are not included in GDP statistics.
Harmful Side Effects - Economic "bads", such as pollution, are not included in GDP statistics.
Non-Market Production - Goods and services produced but not exchanged for money, known as "nonmarket
production", are not measured, even though they have value.
 Models [mô hình]:
+ Aggregate demand and aggregate supply [tổng cầu và tổng cung]: AD-AS model
Explains price level and output [mức giá và sản lượng] through the relationship of aggregate demand and
aggregate supply -> balance = equilibrium. The aggregate demand curve's downward slope [dốc xuống]
means that more output is demanded at lower price levels.
+ Interest rate of Saving(IS) and LM curve [Investment Saving–Liquidity Preference Money Supply; Lãi
suất và cung tiền]
(interest rate of borrowing money for production)
is a macroeconomic tool that demonstrates the relationship between interest rates and real output [lãi suất và
sản lượng thực tế], in the goods and services market and the money market.
The IS–LM model represents the equilibrium in interest rates and output given by the equilibrium in the
goods and money markets. The goods market is represented by the equilibrium in investment and saving
(IS), and the money market is represented by the equilibrium between the money supply and liquidity
preference [sự ưa chuộng tiền mặt].The IS curve consists of the points where investment, given the interest
rate, is equal to savings, given output.
The IS curve is downward sloping because output and the interest rate have an inverse relationship in the
goods market: As output increases more money is saved, which means interest rates must be lower to spur
enough investment to match savings. The LM curve is upward sloping because interest rates and output have
a positive relationship in the money market. As output increases, the demand for money increases, and
interest rates increase.
[In this example of an IS/LM chart, the IS curve moves to the right, causing higher interest rates (i) and
expansion in the "real" economy (real GDP, or Y).]
The IS/LM model is often used to demonstrate the effects of monetary and fiscal policy [tác động của chính
sách tiền tệ và chính sách tài khóa]. Textbooks frequently use the IS/LM model, but it does not feature the
complexities of most modern macroeconomic models. Nevertheless, these models still feature similar
relationships to those in IS/LM.
+ Growth model
Productivity can only increase in the long term by investment in technology advancements.The neoclassical
growth model of Robert Solow has become a common textbook model for explaining economic growth in
the long-run. The model begins with a production function where national output is the product of two
inputs: capital and labor [sản lượng phụ thuộc vào vốn và nhân lực]. The Solow model assumes that labor
and capital are used at constant rates without the fluctuations in unemployment and capital utilization
commonly seen in business cycles.
 Policy [chính sách kinh tế vĩ mô]
+ Monetary policy: [chính sách tiền tệ]
Central banks implement monetary policy by controlling the money supply through several mechanisms.
Typically, central banks take action by issuing money to buy bonds (or other assets), which boosts the
supply of money and lowers interest rates, or, in the case of contractionary monetary policy, central banks
sell bonds and takes money out of circulation. Usually policy is not implemented by directly targeting the
supply of money.
Banks continuously shift the money supply to maintain a fixed interest rate target. Some banks allow the
interest rate to fluctuate and focus on targeting inflation rates instead. Central banks generally try to achieve
high output without letting loose monetary policy create large amounts of inflation.
Conventional monetary policy[chính sách tiền tệ thông thường] can be ineffective in situations such as
a liquidity trap [bẫy thanh khoản]. When interest rates and inflation are near zero, the central bank cannot
loosen monetary policy through conventional means[nới lỏng chính sách tiền tệ thông qua các công cụ thông
thường]. Central banks can use unconventional monetary policy such as quantitative easing to help increase
output. Instead of buying government bonds [trái phiếu chính phủ], central banks implement quantitative
easing by buying other assets such as corporate bonds, stocks, and other securities. This allows lowers
interest rates for broader class of assets beyond government bonds.
+ Fiscal policy (financial): [chính sách tài khóa] Fiscal policy is the use of government's revenue and
expenditure[thu nhập và chi tiêu công] as instruments to influence the economy. If the economy is
producing less than potential output, government spending can be used to employ idle resources and
boost output. Government spending does not have to make up for the entire output gap. There is
a multiplier effect that boosts the impact of government spending. For example, when the government pays
for a bridge, the project not only adds the value of the bridge to output, it also allows the bridge workers to
increase their consumption and investment, which also help close the output gap.
The effects of fiscal policy can be limited by crowding out. When government takes on spending projects, it
limits the amount of resources available for the private sector to use. Crowding out occurs when government
spending simply replaces private sector output instead of adding additional output to the economy.
Crowding out also occurs when government spending raises interest rates which limits investment.
Defenders of fiscal stimulus argue that crowding out is not a concern when the economy is depressed, plenty
of resources are left idle, and interest rates are low.
Fiscal policy can be implemented through automatic stabilizers [cơ chế tự ổn định]. Automatic stabilizers
do not suffer from the policy lags of discretionary fiscal policy. Automatic stabilizers use conventional
fiscal mechanisms but take effect as soon as the economy takes a downturn: spending on unemployment
benefits automatically increases when unemployment rises and, in a progressive income tax system, the
effective tax rate automatically falls when incomes decline.
+ Comparison [so sánh hai chính sách tiền tệ và chính sách tài khóa]
Economists usually favor monetary over fiscal policy because it has two major advantages. First, monetary
policy is generally implemented by independent central banks instead of the political institutions that control
fiscal policy. Independent central banks are less likely to make decisions based on political motives. Second,
monetary policy suffers fewer lags than fiscal. Central banks can quickly make and implement decisions
while discretionary fiscal policy may take time to pass and even longer to carry out. [chính sách tiền tệ
được ưa thích hơn chính sách tài khóa]
 13. MICROECONOMICS [KINH TẾ VI MÔ]
 Definition: Microeconomics is a branch of economics that studies the behavior of individuals [hành vi cá
nhân] and small impacting organizations [tổ chức nhỏ] in making decisions on the allocation of limited
resources [scarsity – sự khan hiếm; sự phân bổ nguồn lực bị hạn chế].
Microeconomics examines how these decisions and behaviors affect the supply and demand [cung và cầu
hàng hóa] for goods and services, which determines prices, and how prices, in turn, determine the quantity
supplied and quantity demanded of goods and services.[cung, cầu và giá cả là mối tương tác qua lại]
 Discrimination: In contrast to macroeconomics [ngược lại], which involves the "sum total of economic
activity, dealing with the issues of growth, inflation, and unemployment." [tăng trưởng, lạm phát, thất
nghiệp],Microeconomics also deals with the effects of national economic policies [chính sách kinh tế] on the
aforementioned aspects [các vấn đề nói trên] of the economy. One of the goals of microeconomics is to
analyze market mechanisms[cơ chế thị trường]that establish relative prices amongst goods and services and
allocation of limited resources amongst many alternative uses. Microeconomics analyzes market failure
[phân tích các thất bại của thị trường], where markets fail to produceefficient results [kết quả hiệu quả], and
describes the theoretical conditions [điều kiện lý thuyết] needed for perfect competition [cạnh tranh hoàn
hảo]. Significant fields of study in microeconomics include general equilibrium, markets under asymmetric
information, choice under uncertainty and economic applications of game theory.
 3 main issue of microeconomics:
+ What kind of products should be made?
+ How to produce them?
+ Distribution, who will get them?
The interaction of demand and supply as well as price will sort these issues.

 Demand, supply, and equilibrium [/,i:kwi'libriəm / cân bằng cung cầu]

Demand: the utility for a good or service of an economic agent (customers or organization), relative to
his/her income. Demand is a buyer's willingness and ability [sự sẵn lòng mua một sản phẩm gì đó] to pay a
price for a specific quantity of a good or service. Demand refers to how much (quantity) of a product or
service is desired by buyers at various prices.
QDx = f (Px, I, Pi)
Px: price of good X.
I: some measure of income per year.
Pi: Prices of related goods
When I and Pi are unchanged, QDx = f(Px)
The quantity demanded [lượng cầu] is the amount of a product people are willing to buy at a certain price;
the relationship between price and quantity demanded is known as the demand. ->cầu là tập hợp của các
lượng cầu.
Supply:the amount of a product that producers and firms are willing to sell at various prices at the point of
time [sẵn lòng bán ở các mức giá, các yếu tố khác ko đổi] when all other factors being held constant. ->cung
là tập hợp của các lượng cung.
The quantity supplied [lượng cung]: the quantity of a commodity that producers are willing to sell at a
particular price [mức giá nhất định] at a particular point of time.
Supply and demand is an economic model of price determination [mô hình kinh tế xác định giá] in a market.
It concludes that in a competitive market, the unit price for a particular good will vary until it settles at a
point where the quantity demanded by consumers will equal the quantity supplied by producers resulting in
an economic equilibrium for price and quantity.[giá sẽ dao động đến mức cân bằng giữa lượng cung và lượng
cầu]
+ Elasticity [độ co giãn]
Elasticity is the measurement of how responsive an economic variable [biến số kinh tế] is to a change in
another variable, or how sensitive the economic variable is when the other variable changes.
Frequently used elasticities include price elasticity of demand, price elasticity of supply, income elasticity of
demand, elasticity of substitution between factors of production and elasticity of intertemporal substitution.
* Price Elasticity of Demand: [độ co giãn của cầu theo giá PEoD] =(% Change in Quantity Demanded)/(%
Change in Price).Do giá trị của độ co giãn cầu theo giá sẽ là số âm (giá tăng thì cầu giảm)-> PeoD xét giá trị
tuyệt đối:
If PEoD > 1 then Demand is Price Elastic (Demand is sensitive to price changes) [rất nhạy cảm về giá]
If PEoD = 1 then Demand is Unit Elastic [giá và cầu tỉ lệ thuận 1:1]
If PEoD < 1 then Demand is Price Inelastic (Demand is not sensitive to price changes) [không nhạy cảm về
giá]
Factors affecting elasticity of demand: Goods price itself, Price of related goods, Personal Disposable
Income, Tastes or preferences, Consumer expectations about future prices and income, Population, Nature of
the good.
* Price Elasticity of Supply [độ co giãn của cung theo giá – PEoS] = (% Change in Quantity Supplied)/(%
Change in Price). Giá trị của độ co giãn của cung theo giá là số dương.
If PEoS > 1 then Supply is Price Elastic (Supply is sensitive to price changes)
If PEoS = 1 then Supply is Unit Elastic
If PEoS < 1 then Supply is Price Inelastic (Supply is not sensitive to price changes)
 Consumer demand theory[Lí thuyết về cầu]how consumers finalise decision of buying under the budget
constraints.
Consumer demand theory relates preferences [sự yêu thích, sự ưu tiên] for the consumption of
both goods and services to the consumption expenditures [chi phí tiêu dùng]; ultimately, this relationship
between preferences and consumption expenditures is used to relate preferences to consumer demand curves
[đường cầu]. It is a way of analyzing how consumers may achieve equilibrium between preferences and
expenditures by maximizing utility subject to consumer budget constraints [tối đa hóa tiện ích; túi tiền có
hạn].
+ Utility & margin utility [thỏa dụng và thỏa dụng cận biên] (utility áp dụng cho customer, benefit áp
dụng cho company)
* Utility: or usefulness, is the (perceived) ability of something to satisfy needs or wants. Utility is an
important concept in economics and game theory, because it represents satisfaction experienced by the
consumer of a good.
* Margin utility of a product or service is the gain from an increase or loss from a decrease in the
consumption of that good and service.
* The law of diminishing marginal utility, that the marginal utility of each homogenous unit decreases as
the supply of units increases (and vice versa); second, that the marginal utility of a larger-sized unit is greater
than the marginal utility of a smaller-sized unit (and vice versa).
* The marginal decision rule states that a good or service should be consumed at a quantity at which the
marginal utility is equal to the marginal cost. (MU = MC)
+ Indifferent curve: is a graph showing different bundles of goods between which a consumer is indifferent.
That is, at each point on the curve, the consumer has no preference for one bundle over another. One can
equivalently refer to each point on the indifference curve as rendering the same level of utility (satisfaction)
for the consumer. [các cách để phối hợp các loại hàng hóa để đưa ra tổng lợi là bằng nhau cho người tiêu
dùng].
 Theory of production [lý thuyết sản xuất]
Production theory is the study of production, or the economic process of converting inputs into outputs [quá
trình chuyển hóa đầu vào thành đầu ra]. The resources is limited, manufacturers have to make a decision
what, how to produce in order to get the profit.
+ Costs of production theory [lý thuyết chi phí sản xuất]
The cost-of-production theory of value is the price of an object or condition is determined by the sum of the
cost of the resources that went into making it. The cost can comprise [bao gồm] any of the factors of
production: labour, capital, land. Technology can be viewed either as a form of fixed capital [vốn cố
định] (ex:plant) or circulating capital [vốn lưu động] (ex:intermediate goods). [công nghệ được xem xét dưới
dạng tồn tại của vốn cố định: nhà máy hoặc vốn lưu động: hàng hóa trung gian].
+ Opportunity cost (Chi phí cơ hội)
In microeconomic theory, the opportunity cost of a choice is the value of the best alternative forgone[cơ hội
tốt nhất bị bỏ qua], in a situation in which a choice needs to be made between several mutually
exclusive alternatives given limited resources [trade-offs: sự lựa chọn giữa các phương án].
Opportunity cost is a key concept in economics, and has been described as expressing "the basic relationship
between scarcity and choice". The notion of opportunity cost plays a crucial part in ensuring that scarce
resources are used efficiently.
Opportunity costs in production
* Explicit costs [Chi phí nổi – có thể nhìn thấy]
Explicit costs are opportunity costs that involve direct monetary payment by producers. The opportunity cost
of the factors of production not already owned by a producer is the price that the producer has to pay for
them. For instance, a firm spends $100 on electrical power consumed, their opportunity cost is $100.
* Implicit costs [Chi phí chìm – chi phí không nhìn thấy]
Implicit costs (also called implied, imputed or notional costs) are the opportunity costs implied by the uses to
which the actor (i.e., firm) allocates their existing (owned) resources, or factors of production. For example: a
manufacturer has previously purchased 1000 tons of steel and the machinery to produce a widget. The
opportunity costs of selling the steel and renting the machinery (instead of producing the widget) are explicit
costs.
* Net Benefit [lợi ích ròng] = Total Benefit – Total Cost.
NB= TB – TC = f(Q) – g(Q); NB max  NB’(Q) = TB’(Q) – TC’(Q) = 0  MB – MC = 0  MB = MC
MB: Marginal Benefit: The additional satisfaction or utility that a person receives from consuming an
additional unit of a good or service
MC: Marginal Cost: the change in the total cost that arises when the quantity produced has an increment by
unit.
MB>MC: should increase the operation size
MB=MC: The operation size is optimized.
MB<MC: should decrease the operation size.
+ Factors of production [yếu tố của quá trình sx]
The inputs or resources used in the production process are called factors of production by economists. The
myriad of possible inputs are usually grouped into four categories. These factors are:
Raw material
Labour services
Capital goods
Land
 In the “long run”, all of these factors of production can be adjusted by management. The “short run”,
however, is defined as a period in which at least one of the factors of production is fixed.
+ Diminishing marginal returns
These curves illustrate the principle of diminishing marginal returns to a variable input (not to be confused
with diseconomies of scale which is a long term phenomenon in which all factors are allowed to change).
This states that as you add more and more of a variable input, you will reach a point beyond which the
resulting increase in output starts to diminish. This point is illustrated as the maximum point on the marginal
physical product curve.
+ Isoquants [đường đồng sản lượng]: is a contour line drawn through the set of points at which the same
quantity of output is produced while changing the quantities of two or more inputs. While an indifference
curve mapping helps to solve the utility-maximizing problem of consumers, the isoquant mapping deals with
the cost-minimization problem of producers.
+ MP – Marginal Product [sản phẩm cận biên] of an input is the extra-output that can be produced by
using one more unit of the input (for example, the difference in output when a firm’s labor usage is increased
from 5 to 6 units), assuming that the quantities of other inputs are not changed.
 Types of market:
+ Perfect competition [cạnh tranh hoàn hảo]
Perfect competition describes markets such that no participants are large enough to have the market power to
set the price of a homogeneous product. [không có ai đủ lớn để làm giá]
+ Perfect monopoly [độc quyền hoàn hảo]
A monopoly exists when a single company is the only supplier of a particular commodity. [chỉ một công ty
cung cấp dịch vụ]
+ Oligopoly ['ɑlɪ'gɑpəlɪ - thị trường độc quyền nhóm]
An oligopoly is a market form in which a market or industry is dominated by a small number of sellers[nhóm
nhỏ người bán](oligopolists). Oligopolies can result from various forms of collusion [/kə'lu:ʤn/ - sự câu kết,
móc ngoặc] which reduce competition and lead to higher costs for consumers.
+ Market structure [cấu trúc thị trường]
The market structure can have several types of interacting market systems. Different forms of markets is a
feature of capitalism [đặc điểm về tư bản]. Competition is the regulatory [regjəleɪtərɪ]mechanism [cơ chế] of
the market system. [cạnh tranh là cơ chế của thị trường]
* Competitive market: a large number of firms [nhiều doanh nghiệp], each has a small proportion [mỗi DN
chia sẻ thị phần nhỏ] of the market share and slightly differentiated products [sản phẩm không mấy khác
nhau].
* Oligopoly [độc quyền nhóm]: a small number of firms [ít doanh nghiệp] that together control the majority
of the market share.
Duopoly, a special case of an oligopoly with two firms.
Monopsony, when there is only one buyer in a market.
Oligopsony, a market where many sellers can be present but meet only a few buyers.
Monopoly, where there is only one provider of a product or service.
* Natural monopoly [độc quyền tự nhiên], a monopoly in which economies of scale cause efficiency to
increase continuously with the size of the firm. A firm is a natural monopoly if it is able to serve the entire
market demand at a lower cost than any combination of two or more smaller, more specialized firms.
* Perfect competition, a theoretical market structure [cấu trúc thị trường lý tưởng] that features no barriers to
entry [không có rào cản gia nhập], an unlimited number of producers and consumers [không hạn chế số
lượng người mua kẻ bán], and a perfectly elastic demand curve [đường cầu hoàn toàn co giãn = nhạy cảm về
giá]. For ex: commodity markets [thị trường hàng hóa], online auctions [['ɔːkʃn] đấu giá online].
 Game theory [Lý thuyết trò chơi]
Game theory is a major method used in mathematical economics [kinh tế tính toán] and business
for modeling competing behaviors[hành vi cạnh tranh] of interacting agents. Applications include a wide
array of economic phenomena and approaches, such as auctions, bargaining, mergers &
acquisitions pricing, fair division, duopolies, oligopolies, social network formation, agent-based
computational economics, general equilibrium, mechanism design,and voting systems, and across such broad
areas as experimental economics, behavioral economics,information economics, industrial organization,
and political economy.
 Labour economics [Kinh tế lao động]
Labour economics seeks to understand the functioning [chức năng] and dynamics [sự vận động] of
the markets for wage labour. Labour markets function through the interaction of workers and employers.
Labour economics looks at the suppliers of labour services (workers), the demands of labour services
(employers), and attempts to understand the resulting pattern of wages, employment, and income.
In economics, labour is a measure of the work done by human beings. It is conventionally contrasted with
such other factors of production as land andcapital. There are theories which have developed a concept
called human capital (referring to the skills [kĩ năng] that workers possess, not necessarily their actual work),
although there are also counter posing macro-economic system theories that think human capital is a
contradiction[sự mâu thuẫn, sự phủ định] in terms.
 Welfare economics [phúc lợi kinh tế]
Welfare economics is a branch of economics that uses microeconomic techniques [kĩ thuật kinh tế học vi mô]
to evaluate well-being [phúc lợi, mức độ hạnh phúc] from allocation of productive factors [phân bổ công cụ
lao động] as to desirability and economic efficiency within an economy, often relative to
competitive general equilibrium. It analyzes social welfare, however measured, in terms of economic
 activities of the individuals that compose the theoretical society considered. Accordingly, individuals, with
associated economic activities, are the basic units for aggregating to social welfare, whether of a group, a
community, or a society, and there is no "social welfare" apart from the "welfare" associated with its
individual units.
 Economics of information [Kinh tế thông tin]
Information economics or the economics of information is a branch of microeconomic theory that studies
how information and information systems affect an economy and economic decisions. Information has
special characteristics. It is easy to create but hard to trust. It is easy to spread but hard to control. It
influences many decisions. These special characteristics (as compared with other types of goods) complicate
many standard economic theories.

14. PRINCIPLES ACCOUNTING [NGUYÊN LÝ KẾ TOÁN]

 Definition: Accounting, or accountancy, is the measurement, processing and communication of financial
information about economic entities [thực thể kinh tế]. Accounting, which has been called the "language of
business", measures the results of an organization's economic activities and conveys this information to a
variety of users including investors, creditors, management, and regulators.
 Classification: Accounting can be divided into several fields including financial accounting, management
accounting, auditing, and tax accounting.
+ Financial accounting: focuses on the reporting of an organization's financial information, including the
preparation of financial statements, to external users of the information, such as investors, regulators and
suppliers.
+ Management accounting: focuses on the measurement, analysis and reporting of information for internal
use by management.
+ Auditing: Auditing is the verification of assertions made by others regarding a payoff,[31] and in the
context of accounting it is the "unbiased examination and evaluation of the financial statements of an
organization.
+ Tax accounting:tax accounting concentrates on the preparation, analysis and presentation of tax payments
and tax return.
 Balance Sheet [Bảng cân đối kế toán]: In financial accounting, a balance sheet or statement of financial
position is a summary of the financial balances of a sole proprietorship [/prə'praɪətə(r)ʃɪp/ quyền sở hữu],
a business partnership, a corporation or other business organization. Assets, liabilities andownership
equity [vốn chủ sở hữu] are listed as of a specific date, such as the end of its financial year. A balance sheet
is often described as a "snapshot of a company's financial condition" [tổng quan tình hình tài chính công ty]
Assets [tài sản] = Current assets [tài sản ngắn hạn] + Non-current assets (fixed assets) [tài sản dài hạn]
+ Current assets= Cash and cash equivalents [tiền mặt bao gồm ngoại tệ, khoản tương đương tiền mặt] +
Accounts receivable [tài sản, nợ phải thu] + Prepaid exprenses for future service using [khoản trả trước cho
người bán] + Deposits Paid [Các khoản đem đi đặt cọc] + Allowance for Doubtful Accounts [Dự phòng nợ
khó đòi] + Short-term Investment [Đầu tư ngắn hạn] + Inventory [hàng tồn kho].
Current assets are important to businesses because they are the assets that are used to fund day-to-day
operations and pay ongoing expenses.
+ Non-current assets = Property, plant and equipment [đất đai, nhà xưởng, thiết bị máy móc] + Investment
property, such as real estate held for investment purposes [các tài sản đầu tư] + Intangible assets
[/ɪn'tændʒəbl/ tài sản vô hình] + Financial assets [tài sản tài chính: không bao gồm tiền, các khoản đầu tư
ngắn hạn, nợ phải thu] + Investments accounted for using the equity method [các khoản đầu tư vào công ty
con] + Biological assets [các tài sản sinh học: gia cầm, gia súc, cây cối, …]+ Accumulated Depreciation
[Khấu hao lũy kế; mang giá trị âm].

Liabilities [nợ] = Current liabilities [Nợ ngắn hạn =< 1 year] + Long-term Debts/Liabilities [nợ dài hạn> 1
year]
+ Current liabilities = Accounts payable [khoản phải trả người bán] + Salaries Payable [Lương phải trả] +
Interest payable [Lãi vay phải thanh toán] + Tax payable [thuế phải nộp] + Security Deposit [Khoản kí quỹ =
khoản do cty khác đặt cọc] + Unearned revenue for services paid for by customers but not yet provided [tiền
đã nhận của người mua nhưng chưa cung cấp dịch vụ=thanh toán trước]
+ Long term debts = Note payable [các khoản nợ tài chính: trái phiếu, giấy ghi nợ>1 year]
Equities [Vốn] = Owner capital/Common stock [cổ phiếu phổ thông] + retained earnings [Lợi nhuận giữ lại]

Total Liabilities + Equities = Total Assests.

Sample:
Assets Liabilities and Owner's Equity
Current Assets Current Liabilities
Cash Accounts payable
Accounts receivable Short-term loans
Inventory Income taxes payable
Prepaid expenses Accrued salaries and wages
Short-term investments Unearned revenue
Total current assets Current portion of long-term debt
Fixed (Long-Term) Assets Total current liabilities
 Long-term investments Long-Term Liabilities
Property, plant, and equipment Long-term debt
(Less accumulated depreciation) Deferred income tax
Intangible assets Other
Total fixed assets Total long-term liabilities
Other Assets Owner's Equity
Deferred income tax Owner's investment
Other Retained earnings
Total Other Assets Other
Total owner's equity
Total Assets Total Liabilities and Owner's Equity

* Common financial ratios:

Debt Ratio (Total Liabilities / Total Assets) [tỉ lệ nợ/tài sản]
Current Ratio (Current Assets / Current Liabilities)[tỉ lệ tài sản lưu động/nợ ngắn hạn]
Working Capital (Current Assets - Current Liabilities)[vốn lưu động] is a financial metric which represents
operating liquidity available to a business. [đo mức độ thanh khoản]
Assets-to-Equity Ratio (Total Assets / Owner's Equity)[tỉ lệ tài sản/vốn chủ sở hữu]
Debt-to-Equity Ratio (Total Liabilities / Owner's Equity)[tỉ lệ nợ/vốn chủ sở hữu]

 Income statement [Báo cáo doanh thu]:is one of the financial statements of a company and shows the
company’s revenues and expenses during a particular period.
Sales: Doanh thu từ hoạt động SXKD.
Cost of goods sold: Giá vốn hàng bán. [Including the salary of workers directly making goods]
Wage expense: CP Lương.
Rent expense: CP thuê.
Office expenses: CP văn phòng (điện nước, VPP)
Depreciation Expense: CP khấu hao
Bad Debt expense: Nợ xấu
Insurance expense: CP bảo hiểm
Interest expense: Trả lãi ngân hàng
Income Tax expense: CP thuế thu nhập doanh nghiệp

GROSS INCOME [Lợi nhuận gộp] = Sales Revenue – Cost of goods sold. [Doanh thu – Giá vốn hàng bán]
 IFO [The Income from Operations] = EBIT [earnings before interest expenses and tax expense] =
GROSS INCOME – Total EXPENSES (exclude Interest expense and Tax expense)
EPS [earnings per share] = (NET INCOME [lợi nhuận sau thuế, lãi vay] – DIVIDENS [trả cổ
tức])/OUTSTANDING SHARES [tổng cổ phiếu phát hành] (tính trung bình cổ phiếu phát hành trong năm,
ví dụ phát hành 6 tháng thì tính ½)
ROE [Return on Equity] = Net Income/Shareholders’ Equities. (ROEs between 15% and 20% are generally
considered good). ROE is best used to compare companies in the same industry
ROA [Return on Assets] = Net Income/Average Assets (ROAs over 5% are generally considered good)
Average assest: tính trung bình đối với các tài sản được mua trong năm (chỉ sử dụng vài tháng)

 Cash Flow Statement [Bảng dòng tiền]: is a financial statement that shows how changes in balance sheet
accounts and income affect cash and cash equivalents, and breaks the analysis down to operating, investing
and financing activities.
People and groups interested in cash flow statements include:
- Accounting personnel, who need to know whether the organization will be able to cover payroll and
other immediate expenses [NV tài chính-tình hình tài chính có đủ chi trả lương và chi phí]
- Potential lenders or creditors, who want a clear picture of a company's ability to repay [người cho
vay, chủ nợ-khả năng trả nợ]
- Potential investors, who need to judge whether the company is financially sound [nhà đầu tư-tài chính
công ty có ổn định]
- Potential employees or contractors, who need to know whether the company will be able to afford
compensation [nhân viên-công ty có đủ khả năng trả lương]
- Shareholders of the business. [cổ đông]

15. CORPORATE LOGISTICS [HẬU CẦN DOANH NGHIỆP]

 Definition: Logistics is the management of the flow of goods between the point of origin [nơi sản xuất] and
the point of consumption [nơi tiêu thụ] in order to meet some requirements, of customers or corporations.
The resources managed in logistics can include physical items, such as food, materials, animals, equipment
and liquids, as well as abstract items, such as time, information, particles, and energy.
The logistics of physical items usually involves the integration of information flow, material
handling,production, packaging, inventory, transportation, warehousing, and often security.
 Purpose of logistics:The minimization of the use of resources [tối thiểu hóa nguồn lực] is a common
motivation in logistics for import and export. Logistics is the process of planning, implementing, and
controlling the effective and efficient flow of goods and services from the point of origin to the point of
consumption.
 16. MANAGERIAL ACCOUNTING [KẾ TOÁN QUẢN TRỊ]
 Definition:Management accounting analyze the financial condition and status of company to make decision,
plan and strategy.
The American Institute of Certified Public Accountants (AICPA) states that management accounting as
practice extends to the following three areas:
+ Strategic management—advancing the role of the management accountant as a strategic partner in
the organization.
+ Performance management—developing the practice of business decision-making and managing the
performance of the organization.
+ Risk management—contributing to frameworks and practices for identifying, measuring, managing
and reporting risks to the achievement of the objectives of the organization.
A management accountant applies his or her professional knowledge and skill in the preparation and
presentation of financial and other decision oriented information in such a way as to assist management
in the formulation of policies and in the planning and control of the operation of the undertaking.
 Differences between financial accountancy and management accounting:
+ while shareholders, creditors, and public regulators use publicly reported financial accountancy
information, only managers within the organization use the normally confidential management
accounting information;
+ while financial accountancy information is historical, management accounting information is primarily
forward-looking;
+ while financial accountancy information is case-based, management accounting information is model-
based with a degree of abstraction in order to support generic decision making;
+ while financial accountancy information is computed by reference to general financial accounting
standards, management accounting information is computed by reference to the needs of managers, often
using management information systems.

17. BASIC MARKETING [MARKETING CĂN BẢN]

 Definition: Marketing is the social and managerial process by which individuals and groups obtain what they
need and want through creating and exchanging products and values with others.
Marketing is the science of choosing target markets through market analysis and market segmentation, as
well as understanding consumer behavior and providing superior customer value. From a societal point of
view, marketing is the link between a society's material requirements and its economic patterns of
response. Marketing satisfies these needs and wants through exchange processes and building long term
relationships.
 An alternate definition is paraphrased from memory of an introductory business text is: Marketing is all
activities conducted to prepare for sales. Sales is all activities required to close the deal. Shipping and
customer satisfaction would be included in sales to avoid the customer from reversing or unclosing the deal.
 Differences between Marketing, Advertising and Public relations [PR]: Both advertising and PR are just
single components of the marketing process. Marketing includes advertising, market research, media
planning, public relations, product pricing, distribution, customer support, sales strategy, and community
involvement.
Advertising: is a form of marketing communication used to encourage, persuade, or manipulate an audience
(viewers, readers or listeners; sometimes a specific group) to take or continue to take some action. Most
commonly, the desired result is to drive consumer behavior with respect to a commercial offering, although
political and ideological advertising is also common.
Public Relations: is the practice of managing the spread of information between an individual or an
organization and the public. The aim of a company’s public relations activity is to persuade the public,
prospective customers, investors, partners, employees, and other stakeholders to maintain a certain point of
view about it, its leadership, products, or of political decisions.
 Topic of marketing:
+ Marketing mix: 4Ps - Product, Price, Promotion, Place (Distribution)
(1) Product: A product is seen as an item that satisfies what a consumer demands. It is a tangible good or
an intangible service. Every product is subject to a life-cycle including a growth phase followed by a
maturity phase and finally an eventual period of decline as sales fall. Marketers must do careful
research on how long the life cycle of the product they are marketing is likely to be and focus their
attention on different challenges that arise as the product moves.
(2) Price: The amount a customer pays for the product. The price is very important as it determines the
company's profit and hence, survival. Adjusting the price has a profound impact on the marketing
strategy, and depending on the price elasticity of the product, often it will affect the demand and sales
as well. The marketer should set a price that complements the other elements of the marketing mix.
When setting a price, the marketer must be aware of the customer perceived value for the product.
Three basic pricing strategies are: market skimming pricing, market penetration pricing and neutral
pricing.
(3) Promotion: All of the methods of communication that a marketer may use to provide information to
different parties about the product. Promotion comprises elements such as: advertising, public
relations, sales organisation and sales promotion.
(4) Place: Refers to providing the product at a place which is convenient for consumers to access.
Various strategies such as intensive distribution, selective distribution, exclusive distribution and
franchising can be used by the marketer to complement the other aspects of the marketing mix.
+ Marketing planning [kế hoạch marketing]: A marketing plan can also pertain to a specific product, as
well as to an organization's overall marketing strategy. There are several levels of marketing objectives
within an organization.
+ Marketing strategy [chiến lược marketing]: The field of marketing strategy considers the total
marketing environment and its impacts on a company or product or service. The emphasis is on "an in depth
understanding of the market environment, particularly the competitors and customers. A marketing strategy
differs from a marketing tactic in that a strategy looks at the longer term view of the products, goods, or
services being marketed. A tactic refers to a shorter term view.
+ Mass marketing: is a market coverage strategy in which a firm decides to ignore market segment
differences and appeal the whole market with one offer or one strategy. The idea is to broadcast a message
that will reach the largest number of people possible. Traditionally mass marketing has focused on radio,
television and newspapers as the media used to reach this broad audience. By reaching the largest audience
possible exposure to the product is maximized. In theory this would directly correlate with a larger number
of sales or buys into the product.
+ Target market: A target market is a group of customers towards which a business has decided to aim its
marketing efforts and ultimately its merchandise. A well-defined target market is the first element to a
marketing strategy. A company is not able to satisfy all the market because the customers have the various
favors, and there’s the scarsity that the company cannot produce everything so it has to make trade-off. It will
focus on the most appropriate part of market.
+ Target Market Variables: Age, Income, Education, Race, Gender, Religion, National origin, Place of
residence, Life style.
+ Herd behavior [tâm lý đám đông]: The basic idea is that people will buy more of products that are seen to
be popular.
+ Marketing process:
(1) analyzing market opportunities,
(2) selecting target markets,
(3) designing marketing strategies,
(4) planning marketing programs,
(5) organizing, implementing and controlling the marketing effort.
+ Buying behavior: A marketing firm must ascertain the nature of customers' buying behavior if it is to
market its product properly. In order to entice and persuade a consumer to buy a product, marketers try to
determine the behavioral process of how a given product is purchased. Buying behavior is usually split into
two prime strands, whether selling to the consumer, known as business-to-consumer (B2C), or to another
business, known as business-to-business (B2B).
 + B2C buying behavior [hành vi người mua tiêu dùng]:This mode of behavior concerns consumers and
their purchase of a given product.
+ B2B buying behavior [hành vi người mua doanh nghiệp]: Relates to organizational/industrial buying
behavior.

18. MANAGEMENT SCIENCES [KHOA HỌC QUẢN LÝ]

 Definition: Management science is concerned with developing and applying models and concepts that help
to illuminate management issues and solve managerial problems.
Management in business and organizations is an art that coordinates the efforts of people to accomplish goals
and objectives using available resources efficiently and effectively. Management comprises planning,
organizing, staffing, leading or directing, and controlling an organization to accomplish the goal. Resourcing
encompasses the deployment and manipulation of human resources, financial resources, technological
resources, and natural resources. Management is also an academic discipline, a social science whose
objective is to study social organizations.
 Classification: Towards the end of the 20th century, business management came to consist of six separate
branches:
+ financial management
+ human resource management
+ information technology management (responsible for management information systems)
+ marketing management
+ operations management or production management
+ strategic management
 Basic function:
Management operates through five basic functions: planning, organizing, coordinating, commanding, and
controlling.
+ Planning: Deciding what needs to happen in the future and generating plans for action.
+ Organizing: Making sure the human and nonhuman resources are put into place
+ Coordinating: Creating a structure through which an organization's goals can be accomplished.
+ Commanding: Determining what must be done in a situation and getting people to do it.
+ Controlling: Checking progress against plans.
 Skills of the manager:
+ Political [chính trị]: used to build a power base and establish connections
+ Conceptual [nhận thức]: used to analyze complex situations.
+ Interpersonal [giao tiếp]: used to communicate, motivate, mentor and delegate
+ Diagnostic [phỏng đoán]: ability to visualize most appropriate response to a situation
 + Leadership [lãnh đạo]: ability to lead and provide guidance to a specific group
+ Technical [chuyên môn]: Expertise in one's particular functional area.

19. STRATEGIC MANAGEMENT [QUẢN TRỊ CHIẾN LƯỢC]

 Definition: Strategic management involves the formulation and implementation of the major goals [sự thực
hiện các mục tiêu chung] and initiatives [sáng kiến] taken by a company's top management [lãnh đạo cấp
cao] on behalf of owners, based on consideration of resources [cân nhắc nguồn lực] and an assessment of the
internal and external environments[đánh giá môi trường bên trong và bên ngoài] in which the organization
competes.
Strategic management provides overall direction [định hướng tổng thể] to the enterprise and involves
specifying the organization's objectives [phân loại các loại mục tiêu – dài hạn; trung hạn; ngắn hạn],
developing policies and plans [chính sách và kế hoạch] designed to achieve these objectives, and then
allocating resources [phân bổ nguồn lực] to implement the plans.
Harvard Professor Michael Porter identifies three principles underlying strategy [3 nguyên tắc cơ sở]:
creating a "unique and valuable market position"[vị thế riêng biệt và giá trị], making trade-offs [việc cân
bằng các yếu tố để đạt kết quả tốt nhất] by choosing "what not to do", and creating "fit" by aligning company
activities[sắp xếp mức độ các hoạt động của doanh nghiệp] to with one another to support the chosen strategy
 SWOT analysis [phân tích SWOT – Strengthen, Weakness, Opportunity, Threat]
is a structured planning method [phương pháp lập kế hoạch] used to evaluate the strengths, weaknesses,
opportunities and threats involved in a project or in a business venture [sự đầu tư kinh doanh].
+ internal factors – the strengths and weaknesses internal to the organization: 4Ps [marketing mix] as well as
personnel, finance, manufacturing capabilities,…
+ external factors – the opportunities and threats presented by the environment external to the organization:
macroeconomic matters [vấn đề kinh tế vĩ mô], technological change [thay đổi công nghệ], legislation [luật
pháp], and sociocultural changes [thay đổi văn hóa xã hội], as well as changes in the marketplace or in
competitive position.
 Competitive advantage [lợi thế cạnh tranh]: Michael Porter defined the two types of competitive
advantage an organization can achieve relative to its rivals: lower cost [chi phí thấp] or differentiation [sự
khác biệt].
 Core competence [cạnh tranh cốt lõi]: The firms should allocate most of their resources to the areas that
they have the advantages, letting others go or outsourcing them [tập trung ngành có lợi thế, bỏ qua hoặc thuê
ngoài đối với các lĩnh vực khác] = trading-offs.
 20. HUMAN RESOURCE MANAGEMENT [QUẢN TRỊ NHÂN LỰC]
 Definition: is a function in organizations [chức năng trong doanh nghiệp] designed to maximize employee
performance [tối đa hóa hiệu năng lao động] in service of their employer’s strategic objectives [nhằm mục
đích của người thuê lao động].
HR is primarily concerned with how people are managed within organization through policies and systems.
HR often has some key roles: recruitment [tuyển dụng], training [đào tạo], personal evaluation [đánh giá],
rewarding [khen thưởng].
 Affecting factors: [yếu tố ảnh hưởng]:
+ External environment:Macroeconomics matters, population and labor, legislation, social culture,
technology, customers and competitors.
+ Internal environment: primary objects and strategies of corporation, corporation culture [văn hóa doanh
nghiệp], trade union [công đoàn].
+ Human factor [nhân tố người lao động]: each individual has the different charateristics, aspirations and
hobbies -> need to have the appropriate managerial method for each. The salary is the main income of
employees and also directly affect to them.
+ Manager factor [nhân tố nhà quản trị]: The top management draw out the policies and direction for the
firm development. They’re required to have the knowledge and distance vision to set the most proper
decision.

21. FINANCIAL MANAGEMENT [QUẢN TRỊ TÀI CHÍNH]

 Definition: Financial management refers to the efficient and effective management of money (funds) [cách
thức quản lý vốn] in such a manner as to accomplish the objectives [đạt được mục tiêu] of the organization. It
is the specialized function[chức năng đặc biệt hóa] directly associated with the top management [lãnh đạo
cấp cao].

It includes how to raise the capital [huy động vốn], how to allocate capital budgeting [phân bổ vốn]. Not only
about long term budgeting [ngân sách dài hạn] but also how to allocate the short term resources [nguồn lực
ngắn hạn] like current assets [tài sản lưu động]. It also deals with the dividend policies [chính sách chia cổ
tức] of the share holders.
 Importance of financial management:
+ Determine the existence and development of an organization.
+ Directly govern all the operation of the organization.
 Roles of financial management:
+ Create the financial plan.
+ Finalize the decision of investment.
 + Govern the operation to ensure the effectiveness.

22. CORPORATE GOVERNANCE [QUẢN TRỊ DOANH NGHIỆP]

 Definition: Corporate governance broadly refers to the mechanisms [cơ chế], processes [quá trình] and
relations [mối quan hệ] by which corporations are controlled and directed. Governance structures identify the
distribution of rights and responsibilities [quyền và nghĩa vụ] among different participants[thành phần trong
doanh nghiệp] in the corporation (such as the board of directors, managers, shareholders, creditors, auditors,
regulators, and other stakeholders) and includes the rules and procedures for making decisions in corporate
affairs.
23. TOURISM ECONOMICS [KINH TẾ DU LỊCH]

24. REAL ESTATE ECONOMICS [KINH DOANH BẤT ĐỘNG SẢN]

25. SET UP AND MANAGE INVESTMENT PROJECTS [LẬP VÀ QUẢN LÝ DỰ ÁN ĐẦU TƯ]

26. ECONOMICS LAWS [PHÁP LUẬT KINH TẾ]

 27. COMMERCIAL ECONOMICS [KINH TẾ THƯƠNG MẠI]
 Definition: Trade is the transfer of the ownership of goods or services from one person or entity to another in
exchange for other goods or services or for money. Trade is sometimes loosely called commerce or financial
transaction or barter. A network that allows trade is called a market. The original form of trade was barter,
the direct exchange of goods and services for other goods and services. Later one side of the barter was
precious metals. Modern traders instead generally negotiate through a medium of exchange, such as money.
As a result, buying can be separated from selling, or earning. The invention of money (and later credit, paper
money and non-physical money) greatly simplified and promoted trade. Trade between two traders is called
bilateral trade, while trade between more than two traders is called multilateral trade.
 Economic essence of Trade [bản chất kinh tế của thương mại]
+ Trade is a economic activity: trade is started by buying and finished by selling. Purpose of trade is the
profit.
+ Trade is the medium of production and consumption. -> enhance the development of economy.
+ Trade is the individual economic sector. [ngành kinh tế riêng biệt] Trade takes care of the circulation and
distribution of goods and supplies the service for society to get the profit.
 Classification:
 + Extent of trade [theo phạm vi]: domestic trade & foreign trade.
+ Circulation [theo các khâu trong quá trình lưu thông]: wholesale (sale to the distributors, dealer,..) and
retail (sale to the final consumers)
+ Objects of trade [theo đối tượng thương mại]: service trade [thương mại dịch vụ] & goods trade [thương
mại hàng hóa].
+ Trading technique [theo kĩ thuật áp dụng]: traditional trade or e-commerce.
+ Protectism [theo bảo hộ hay không bảo hộ]: protectism trade & non-protectism trade.
 Functions of trade: implement the circulation of goods via exchange, transaction by money -> satisfy the
demand of consumers; make the whole economy operating smoother.
 State organization governing trade: Government, Ministry of Industry and Trade, other related ministries,
Province people committee.
 The trade policies of state: tax (income tax, import-export tax,…); administrative tools (license, conditions,
im-export quotas…); economic incentives (support to invest: subsidies, exchange rate); technical
method(technical standard, packing norms,…)

28. INTERNATIONAL TRADE [THƯƠNG MẠI QUỐC TẾ]

 Definition: is the exchange of capital, goods, and services across international borders or territories. In most
countries, such trade represents a significant share of gross domestic product (GDP). The growth of
international trade is a fundamental component of globalization.
 Globalization: refers to the shift toward a more intergrated and interdependent world economy.
Economic globalization is the increasing economic interdependence of national economies across the world
through a rapid increase in cross-border movement of goods, service, technology and capital.
+ Advantages of Globalization:
(1) Resources of different countries are used for producing goods and services they are able to do most
efficiently.
(2) Consumers to get much wider variety of products to choose from.
(3) Consumers get the product they want at more competitive prices.
(4) Companies are able to procure input goods and services required at most competitive prices.
(5) Companies get get access to much wider markets
(6) It promotes understanding and goodwill among different countries.
(7) Businesses and investors get much wider opportunities for investment.
(8) Adverse impact of fluctuations in agricultural productions in one area can be reduced by pooling of
production of different areas.
+ Disadvantages of globalization:
 (1) Developed countries can stifle [kìm hãm] development of undeveloped and under-developed
countries.
(2) Economic depression in one country can trigger adverse reaction across the globe.
(3) It can increase spread of communicable diseases.
(4) Companies face much greater competition. This can put smaller companies, at a disadvantage as they
do not have resources to compete at global scale.
 International trade theories: [lí thuyết thương mại quốc tế]
+ Adam Smith's model – Absolute Advantage.(Wealth of Nation - 1776)
* Capability of one country to produce more of a product with the same amount of input than other
countries.
* Produce only goods that you’re most efficient; and then trade for those you’re not efficient. ->
International trade brings benefit to both countries.
* Absolute Advantage is not able to explain why the developing countries which don’t have the absolute
advantage compared with developed coutries still involve in international trade.
+ Ricardian model – Comparative Advantage. (Priciples of Political Economy - 1817)
* In economics, comparative advantage refers to the ability of a party (country) to produce a particular
good or service at a lower marginal and opportunity cost over another.
* Efficiency of resource ultilization leads to more productivity.
* Should import even if the country is more efficient in production of goods than the country from which
it is buying.
* A nation will focus on produce the goods that it has the most comparative advantage, and trade for
other goods from other countries regardless of that for those goods it has the absolute advantage compared
with other countries.
* This will make better use of resources and increase the total amount of goods of all countries.
+ Heckscher–Ohlin model (H-O model) = Factor endowment model is a general equilibrium
mathematical model of international trade, developed by Eli Heckscher and Bertil Ohlin at the Stockholm
School of Economics. It builds on David Ricardo's theory of comparative advantage by predicting patterns of
commerce and production based on the factor endowments of a trading region. The model essentially says
that countries will export products that use their abundant and cheap factor(s) of production and
import products that use the countries' scarce factor(s).
It states that countries should export what they can most easily and abundantly produce. The Heckscher-
Ohlin model is used to evaluate international trade, specifically trade equilibriums between countries that
may have different features. The model emphasizes how countries with comparative advantages should
export goods that require factors of production that they have in abundance, while importing goods that it
cannot produce as efficiently.
 + Gravity model of trade [mô hình lực hấp dẫn]: The gravity model of trade in international economics
predicts bilateral trade flows based on the economic sizes (often using GDP measurements) and distance
between two units [2 quốc gia ở gần nhau thì sẽ có nhiều cơ hội phát triển thương mại song phương]
 Regulations governing the international trade [quy tắc điều chỉnh thương mại quốc tế]
International Trade Law includes the appropriate rules and customs for handling trade between countries.
However, it is also used in legal writings as trade between private sectors, which is not right. This branch of
law is now an independent field of study as most governments has become part of the world trade, as
members of the World Trade Organization (WTO).
International trade convention [hiệp định thương mại]: bilateral (song phương) – multilateral (đa phương).
WTO.
 WTO [World Trade Organization]: The World Trade Organization (WTO) is an organization that intends to
supervise and liberalize international trade. The organization officially commenced on 1 January 1995. The
World Trade Organization (WTO) deals with the global rules of trade between nations. Its main function is
to ensure that trade flows as smoothly, predictably and freely as possible.
Vietnam jointed WTO as the official member in 2007.
* Most important functions of WTO:
(1) It oversees the implementation, administration and operation of the covered agreements.
(2) It provides a forum for negotiations and for settling disputes.
* Principles of the trading system:
(1) Non-discrimination [không phân biệt đối xử]
(2) Reciprocity. [/,resi'prɔsiti/, trao đổi qua lại cùng có lợi]
(3) Binding and enforceable commitments. [cam kết mang tính rằng buộc]
(4) Transparency. [minh bạch]
(5) Safety valves. [nguyên tắc đảm bảo an toàn]
 Commercial protectionism: [bảo hộ mậu dịch]Protectionism is the economic policy of restraining trade
between states (countries) through methods such as tariffs on imported goods, restrictive quotas, and a
variety of other government regulations designed to allow (according to proponents) fair competition
between imports and goods and services produced domestically -> to protect the infant local industries.
+ Tariffs [thuế nhập khẩu]: tariffs (or taxes) are imposed on imported goods. Tariff rates usually vary
according to the type of goods imported. Import tariffs will increase the cost to importers, and increase the
price of imported goods in the local markets, thus lowering the quantity of goods imported, to favour local
producers.
+ Quotas [hạn ngạch]: To reduce the quantity and therefore increase the market price of imported goods.
The economic effects of an import quota is similar to that of a tariff, except that the tax revenue gain from a
 tariff will instead be distributed to those who receive import licenses. Economists often suggest that import
licenses be auctioned to the highest bidder [đấu giá hạn ngạch], or that import quotas be replaced by an
equivalent tariff.
+ Administrative barriers [rào cản hành chính]: Countries are sometimes accused of using their various
administrative rules (e.g. regarding food safety, environmental standards, electrical safety, etc.) as a way to
introduce barriers to imports.
+ Anti-dumping legislation [luật chống bán phá giá] Supporters of anti-dumping laws argue that they
prevent "dumping" of cheaper foreign goods that would cause local firms to close down. However, in
practice, anti-dumping laws are usually used to impose trade tariffs on foreign exporters.Dumping [bán phá
giá] is that manufacturers export a product to another country at a price either below the price charged in its
home market [thấp hơn giá bán nội địa] or below its cost of production [thấp hơn giá thành].
+ Direct subsidies [trợ cấp trực tiếp]: Government subsidies (in the form of lump-sum payments [khoản
thanh toán gộp] or cheap loans[khoản vay lãi suất thấp]) are sometimes given to local firms that cannot
compete well against imports. These subsidies are purported to "protect" local jobs, and to help local firms
adjust to the world markets.
+ Export subsidies [trợ cấp xuất khẩu]: Export subsidies are often used by governments to increase exports.
Export subsidies increase the amount of trade, and in a country with floating exchange rates [tỉ giá ngoại tệ
thả nổi – không can thiệp của nhà nước], have effects similar to import subsidies.
+ Exchange rate manipulation [thao túng tỉ giá ngoại tệ]: A government may intervene in the foreign
exchange market to lower the value of its currency by selling its currency in the foreign exchange market.
[đặt giá nội tệ ở mức thấp] Doing so will raise the cost of imports [tăng giá nhập khẩu] and lower the cost of
exports [giảm giá xuất khẩu], leading to an improvement in its trade balance [thay đổi cán cân thương mại].
However, such a policy is only effective in the short run, as it will most likely lead to inflation in the country,
which will in turn raise the cost of exports, and reduce the relative price of imports. [chính sách này chỉ có
tác dụng ngắn hạn; dài hạn sẽ dẫn đến lạm phát tăng -> tăng giá xuất khẩu -> giảm giá nhập khẩu]
 International trade bloc [khối thương mại quốc tế]: is a type of intergovernmental agreement, often part
of a regional intergovernmental organization, where regional barriers to trade, (tariffs and non-tariff barriers)
are reduced or eliminated among the participating states.
+ A free-trade area [vùng thương mại tự do] is the region encompassing a trade bloc whose member
countries have signed a free-trade agreement (FTA – hiệp định thương mại tự do). Free trade agreements
eliminate tariffs, import quotas, and preferences on most (if not all) goods and services traded between the
member countries.
+ A customs union [liên minh thuế quan] is a type of trade bloc which is composed of a free trade area with
a common external tariff [đánh chung mức thuế đối với các nước ngoài khối]. The participant countries set
 up common external trade policy, but in some cases they use different import quotas. Common competition
policy [chính sách cạnh tranh chung] is also helpful to avoid competition deficiency.
+ A common market [thị trường chung] is a first stage towards a single market, and may be limited initially
to a free trade area with relatively free movement of capital and of services [tự do di chuyển vốn và dịch vụ
trong khối], but not so advanced in reduction of the rest of the trade barriers.
+ An economic union [liên minh kinh tế] is a type of trade bloc which is composed of a common market
with a customs union [kết hợp thị trường chung và liên minh thuế quan]. The participant countries have both
common policies on product regulation, freedom of movement of goods, services and the factors of
production (capital and labour) and a common external trade policy. When an economic union involves
unifying currency it becomes a Economic and monetary union[liên minh kinh tế và tiền tệ]. Example:
EURO zone.
+ An customs and monetary union [liên minh thuế quan và tiền tệ] is a type of trade bloc which is
composed of a customs union and a currency union. The participant countries have both common external
trade policy and share a single currency. [chính sách cho ngoài khối giống nhau và chung đồng tiền]
 International investment [đầu tư quốc tế]: FDI, PFI & ODA.
+ FDI: A Foreign direct investment (FDI) is a controlling ownership in a business enterprise in one country
by an entity based in another country.
Foreign direct investment is distinguished from portfolio foreign investment (PFI), a passive investment in
the securities of another country such as public stocks and bonds, by the element of "control".
Broadly, foreign direct investment includes "mergers and acquisitions, building new facilities, reinvesting
profits earned from overseas operations and intra company loans". In a narrow sense, foreign direct
investment refers just to building new facilities.
Types of FDI:
(1) Horizontal FDI arises when a firm duplicates its home country-based activities at the same value
chain stage in a host country through FDI.
(2) Platform FDI Foreign direct investment from a source country into a destination country for the
purpose of exporting to a third country.
(3) Vertical FDI takes place when a firm through FDI moves upstream or downstream in different value
chains i.e., when firms perform value-adding activities stage by stage in a vertical fashion in a host
country.
Method:
(1) by incorporating a wholly owned subsidiary or company anywhere
(2) by acquiring shares in an associated enterprise
(3) through a merger or an acquisition of an unrelated enterprise
(4) participating in an equity joint venture with another investor or enterprise.
 + PFI:
A portfolio investment is a passive investment in securities, which entails no active management or control
of the issuing company by the investor. The purpose of the investment is solely financial gain. This is in
contrast to direct investment, which allows an investor to exercise a certain degree of managerial control over
a company.
+ ODA: Official development assistance is flow of official financing administered with the promotion of the
economic development and welfare of developing countries as the main objective, and which are
concessional in character with a grant element of at least 25 percent (using a fixed 10 percent rate of
discount). By convention, ODA flows comprise contributions of donor government agencies, at all levels, to
developing countries (“bilateral ODA”) and to multilateral institutions. ODA receipts comprise
disbursements by bilateral donors and multilateral institutions.
ODA needs to contain the three elements:
(1) undertaken by the official sector (official agencies, including state and local governments, or their
executive agencies)
(2) with promotion of economic development and welfare as the main objective; and
(3) at concessional financial terms [viện trợ không hoàn lại] (if a loan, having a grant element of at least
25 percent).
* Advantages of ODA:
- Low interest rate. ( less than 2%)
- Long payment period.
- Having a grant element of at least 25 percent.
* Disadvantages of ODA:
- Eleminate the protectionism; preference for investors.
- Require to buy products from nations that assist.
- Changes of exchange rate will increase the value of ODA need to be returned.
 ASEAN: [Association of Southeast Asian Nations]: is a political and economic organisation of ten
countries located in Southeast Asia, which was formed on 8 August 1967.
+ Functions of ASEAN:
(1) To accelerate the economic growth, social progress and cultural development in the region.
(2) To promote regional peace and stability.
(3) To promote active collaboration and mutual assistance on matters of common interest in the
economic, social, cultural, technical, scientific, educational and administrative fields;
(4) To maintain close and beneficial cooperation with existing international and regional
organisations with similar aims and purposes, and explore all avenues for even closer cooperation
among themselves.
 WORLD BANK: The World Bank is a United Nations international financial institution that provides loans
to developing countries for capital programs.
Voting powers [quyền bỏ phiếu] at the World Bank are determined by the capital that the contries which are
its member invest to it. The countries with most voting power are now the United States (15.85%), Japan
(6.84%), China (4.42%), Germany (4.00%), the United Kingdom (3.75%), France (3.75%), India
(2.91%),[25] Russia (2.77%), Saudi Arabia (2.77%) and Italy (2.64%).
The concentrations of this organization are Poverty reduction strategies, Climate Change, Food Security.

29. COMMERCIAL CORPORATE GOVENANCE [QUẢN TRỊ DOANH NGHIỆP THƯƠNG

MẠI]
 Definition:
+ Commercial corporationis a company involves in commercial activities in order to make a profit. As the
narrow definition, this company will buy goods from producers and then sell them to customers (maybe
companies or consumers) to get the profit. It can also be understood as the company involves in activities of
supplying the goods/service to customers.
+ Corporate governance: refers to the mechanisms, processes and relations by which corporations are
controlled and directed. Governance structures identify the distribution of rights and responsibilities among
different participants in the corporation (such as the board of directors, managers, shareholders, creditors,
auditors, regulators, and other stakeholders) and includes the rules and procedures for making decisions in
corporate affairs.
 Material planning [kế hoạch vật tư] is a scientific way of determining the requirements starting with raw
materials, consumables, spare parts and all other materials that are required to meet the given production
plan for a certain period.
+ Material: A raw material or feedstock is basic material used in the production of goods, finished products
or intermediate materials that are themselves feedstock for finished products. As feedstock, the term connotes
it is a bottleneck asset critical to the production of other products
+ Factors affecting Material planning :
(1) Macro factors : Global factors such as price trends, business cycles, government's import and export
policies etc are called the Macro factors. Credit policy of the government is a critical factor as banks
follow these guidelines only while extending financial support to a business entity.
(2) Micro factors: These are essentially the factors existing within the organisation such as corporate
policy on Inventory holding, production plan, investments etc. For any organisation, factors such as
Lead time of procurement, acceptable inventory levels, working capital, seasonality, delegation of
power are micro factors.
 + Formula:
(1) Rate of completing the material planning = real supply/plan (%)
(2) Time (days) of using material = real supply/(material usage per product * estimated product per
day)

30. IMPORT-EXPORT BUSINESS OPERATION [NGHIỆP VỤ XUẤT NHẬP KHẨU]

 Incoterm 2010: The Incoterms rules or International Commercial Terms are a series of pre-defined
commercial terms published by the International Chamber of Commerce (ICC) that are widely used in
International commercial transactions or procurement processes. A series of three-letter trade terms related to
common contractual sales practices, the Incoterms rules are intended primarily to clearly communicate the
tasks, costs, and risks associated with the transportation and delivery of goods.
Incoterms 2010 defines 11 rules of 4 classes (E, F, C, D):
(3) EXW – Ex Works (named place – giao hàng tại địa chỉ người bán)
The seller makes the goods available at his/her premises. This term places the maximum obligation
on the buyer and minimum obligations on the seller [tối đa hóa nghĩa vụ người mua, tối thiểu nghĩa
vụ người bán]. The Ex Works term is often used when making an initial quotation for the sale of
goods without any costs included [giá bán sẽ không bao gồm thêm bất kì phụ phí nào]. EXW means
that a buyer incurs the risks for bringing the goods to their final destination [người mua chịu rủi ro
trong quá trình đưa hàng hóa đến đích cuối]. The seller does not load the goods on collecting vehicles
and does not clear them for export [người bán không xếp hàng lên phương tiện vận tải và không làm
thủ tục xuất khẩu].
* If the seller does load the goods, he does so at buyer's risk and cost. [nếu người bán xếp hàng, người
mua phải chịu chi phí và rủi ro]
* If parties wish seller to be responsible for the loading of the goods on departure and to bear the risk
and all costs of such loading, this must be made clear by adding explicit wording to this effect in the
contract of sale. [trường hợp nếu người bán vừa xếp hàng vừa chịu các chi phí xếp hàng và rủi ro,
thì phải quy định rõ trong hợp đồng]
The buyer arranges the pickup of the freight from the supplier's designated ship site, owns the in-
transit freight, and is responsible for clearing the goods through Customs. The buyer is responsible
for completing all the export documentation. Cost of goods sold transfers from the seller to the
buyer.[người mua chọn nhà vận chuyển và thanh toán tất tần tật tiền bốc dỡ, vận chuyển, bảo
hiểm, thuế xuất nhập phát sinh; hàng sẽ được giao cho nhà vận chuyển tại địa chỉ chỉ định của
người bán].
(4) FCA - Free Carrier (named place of delivery) [giao hàng cho nhà vận chuyển]
 The seller delivers the goods, cleared for export, to the carrier nominated by the buyer at the named
place. It should be noted that the chosen place of delivery has an impact on the obligations of loading
and unloading the goods at that place.
* If delivery occurs at the seller's premises, the seller is responsible for loading.
* If delivery occurs at any other place, the seller is not responsible for loading.
[người bán làm thủ tục xuất khẩu; giao hàng cho nhà vận chuyển do người mua chỉ định; nếu
hàng giao tại kho của bên bán thì bên bán xếp hàng, giao ở nơi khác bên bán không phải xếp
hàng]
(5) FAS – Free Alongside Ship (named port of shipment) [Giao hàng tại mạn tàu] [áp dụng đường
thủy]
The seller delivers when the goods are placed alongside the buyer's vessel at the named port of
shipment. This means that the buyer has to bear all costs and risks of loss of or damage to the goods
from that moment. The FAS term requires the seller to clear the goods for export, which is a reversal
from previous Incoterms versions that required the buyer to arrange for export clearance. However, if
the parties wish the buyer to clear the goods for export, this should be made clear by adding explicit
wording to this effect in the contract of sale. This term can be used only for sea or inland waterway
transport.[người bán giao hàng dọc mạn tàu tại cảng xuất; rủi ro, chi phí sẽ được chuyển giao cho
người mua ngay tại thời điểm này; người mua hay người bán làm thủ tục xuất khẩu sẽ được ghi
rõ trong hợp đồng]
(6) FOB – Free on Board (named port of shipment) [giao hàng lên tàu] [áp dụng đường thủy]
The seller pays for transportation of goods to the port of shipment, loading cost [người bán trả tiền
vận chuyển hàng tới cảng xuất và chi phí xếp hàng lên tàu]. The buyer pays cost of marine freight
transportation, insurance, unloading and transportation cost from the arrival port to destination [người
mua chịu các chi phí tàu biển, bảo hiểm, bốc dỡ hàng xuống, chi phí vận chuyển tại nước đến].
The passing of risk occurs when the goods are in buyer account [rủi ro chuyển giao khi hàng được
chuyển qua mạn tàu]. The buyer arranges for the vessel and the shipper has to load the goods and the
named vessel at the named port of shipment with the dates stipulated in the contract of sale as
informed by the buyer. [người mua chọn nhà vận chuyển; địa điểm giao hàng, tên nhà vận chuyển
phải được ghi trong hợp đồng].
(7) CPT – Carriage Paid To (named place of destination) [cước phí trả tới PORT của người mua]
[rủi ro chuyển giao cho người mua khi nhà vận tải đầu tiên nhận hàng]
The seller pays for carriage. Risk transfers to buyer upon handing goods over to the first carrier at
place of shipment in the country of Export. The Shipper is responsible for origin costs including
export clearance and freight costs for carriage to named place (usually destination port or airport).
Shipper is not responsible for buying Insurance and for delivery to final destination (buyer's
 facilities). [rủi ro chuyển giao cho người mua khi hàng được giao cho người vận chuyển đầu tiên;
người bán chịu trách nhiệm các khoản chi phí xuất khẩu + xếp hàng + tiền vận chuyển đến cửa
khẩu của người mua; người mua chịu trách nhiệm các khoản chi phí từ đó + bảo hiểm]
(8) CIP – Carriage and Insurance Paid to (named place of destination) [cước phí + bảo hiểm trả tới
PORT của người mua] [rủi ro chuyển giao cho người mua khi nhà vận tải đầu tiên nhận hàng]
The containerized transport/multimodal equivalent of CIF[phương thức vận tải là giống CIF, khác
nhau về chuyển giao rủi ro]. Seller pays for carriage and insurance to the named destination point, but
risk passes when the goods are handed over to the first carrier. [người bán thanh toán chi phí xuất
khẩu + xếp hàng + chi phí vận chuyển + bảo hiểm đến cửa khẩu của người mua; rủi ro chuyển
giao cho người mua ngay khi hàng được giao cho người vận chuyển]
(9) CFR – Cost and Freight (named port of destination)[trả cước tới bến – chỉ áp dụng cho đường
thủy] [rủi ro chuyển giao sau khi hàng qua khỏi lan can tàu]
Seller must pay the costs and freight to bring the goods to the port of destination. However, risk is
transferred to the buyer once the goods are loaded on the vessel. Insurance for the goods is NOT
included. [người bán trả phí vận chuyển + xếp hàng; hàng giao tới cảng nước đến; rủi ro chuyển
giao cho người mua khi hàng qua lan can tàu]
(10) CIF – Cost, Insurance and Freight (named port of destination) [trả cước+bảo hiểm tới bến – chỉ
áp dụng cho đường thủy] [rủi ro chuyển giao khi hàng qua khỏi lan can tàu]
Exactly the same as CFR except that the seller must in addition procure and pay for the insurance.
(11) DAT – Delivered at Terminal (named terminal at port or place of destination) [giao hàng tại
bến] [áp dụng cho tất cả các hình thức vận tải]
This term means that the seller covers all the costs of transport (export fees, carriage, unloading from
main carrier at destination port and destination port charges) and assumes all risk until destination
port, import duty/taxes/customs costs to be borne by Buyer. [người bán chịu chi phí xuất khẩu, xếp
hàng hóa, vận tải, bốc dỡ hàng hóa tại cảng đến; rủi ro chuyển giao khi hàng được giao cho
người mua tại cảng đến; người mua phải làm thủ tục nhập khẩu]
(12) DAP – Delivered at Place (named place of destination) [giao tại địa điểm]
Can be used for any transport mode, or where there is more than one transport mode. The seller is
responsible for arranging carriage and for delivering the goods, ready for unloading from the arriving
conveyance, at the named place. Duties are not paid by the seller under this term (an important
difference from Delivered At Terminal DAT, where the buyer is responsible for unloading).
(13) DDP – Delivered Duty Paid (named place of destination) [giao hàng có trả thuế nhập khẩu]
Seller is responsible for delivering the goods to the named place in the country of the buyer, and pays
all costs in bringing the goods to the destination including import duties and taxes. The seller is not
responsible for unloading. This term places the maximum obligations on the seller and minimum
 obligations on the buyer. With the delivery at the named place of destination all the risks and
responsibilities are transferred to the buyer and it is considered that the seller has completed his
obligations.[người bán chịu trách nhiệm giao hàng đến địa điểm tại nước đến do người mua chỉ
định, trả tất cả các khoản phí nhập khẩu; không chịu trách nhiệm dỡ hàng; rủi ro chuyển giao
cho người mua khi hàng được giao tại địa điểm thỏa thuẩn]
 Methods of payment in International trade
(1) cash with order(CWO)-the buyers pay cash when he places an order. (pay in advance)
(2) cash on delivery(COD)-the buyer pays cash when the goods are delivered.
(3) documentary credit-a Letter of credit (L/C) is used; gives the seller two guarantees that the
payment will be made by the buyer: one guarantee from the buyer's bank and another from the
seller's bank.
(4) bills for collection - here a Bill of Exchange (B/E)is used
(5) open account-this method can be used by business partners who trust each other;the two partners
need to have their accounts with the banks that are correspondent banks.

31. COMMERCIAL MARKETING [MARKETING THƯƠNG MẠI]

 32. NEGOTIATION IN BUSINESS [GIAO DỊCH ĐÀM PHÁN KINH DOANH]
 Definition: Negotiation is a dialogue between two or more people or parties intended to reach an
understanding, resolve points of difference, to gain advantage for an individual or collective, or to craft
outcomes to satisfy various interests. Negotiation occurs in business, non-profit organizations, government
branches, legal proceedings, among nations and in personal situations such as marriage, divorce, parenting,
and everyday life.
 Strategy:
+ Distributive negotiation: sometimes called positional or hard-bargaining negotiation. In a distributive
negotiation, each side often adopts an extreme position.
+ Integrative negotiation: sometimes called interest-based or principled negotiation. It is a set of techniques
that attempts to improve the quality and likelihood of negotiated agreement by providing an alternative to
traditional distributive negotiation techniques.
 Cultural impact on business negotiation:
(1) negotiating goal [mục tiêu]: contract or relationship?
(2) negotiating attitude [thái độ]: win-lose or win-win?
(3) personal style [phong cách]: informal or formal?
 (4) Communication [giao tiếp]: direct or indirect?
(5) sensitivity to time [thời gian]: high or low?
(6) Emotionalism [cảm xúc]: high or low?
(7) form of agreement [dạng hợp đồng]: general or specific?
(8) building an agreement [xây dựng hợp đồng]: bottom up or top down?
(9) team organization [cấu trúc team]: one leader or group consensus?
(10) risk taking [rủi ro]: high or low?

33. BUSINESS STRATEGY OF COMMERCIAL ENTERPRISES [CHIẾN LƯỢC KD CỦA DN

THƯƠNG MẠI]
 Definition: A strategy of commercial enterprise includes a commercial company’s long-term orientation
which insits the targets, the vision, the standard, the core value,… and a system of policies, solutions and
conditions to achieve the targets.
 Strategic planning:
(1) Define competitive stance
Defining the competitive stance gives information about the current market situation in relation to the
new product. The competitive stance forms finally a competitive strategy. SWOT analysis may be
used.
(2) Define market strategy = marketing plan.
Defining the market strategy gives insight in the actions that are necessary to achieve marketing
objectives. The company has to get familiar with the market and must decide how and where to place
the product in the market. Other actions are the way to approach potential customers, and the way to
attract the targeting customer group (for example, low prices or high quality).
(3) Define company strategy
Defining the company strategy, also known as business strategy, specifies the objectives of the
company in relation to the new product. Policies, plans and resources that are needed to achieve these
objectives are defined in this activity.
(4) Define product strategy
Defining the product strategy gives insight in strategic product characteristics as the innovativeness,
product newness and the product life cycle (PLC) time.
 Create an approach for the product launch
(1) Product: Choose brand
The company has to decide whether to create a new brand, make an extension of a brand, or that the
product falls under an existing brand.
 (2) Product: Define breadth of assortment
The breadth of the product assortment of the company has to be defined. It depends on the customer
needs and the possibility to create a bigger or smaller product assortment. The customer needs can be
inventoried by a market research.
(3) Pricing: Define price level
the price of the product has to be defined. A product price is based on development, production,
storage, transport and promotion costs. The price level must be carefully balanced as shown in figure
2. The higher the price level, the more profitable, but the less attractive it is for potential customers.
(4) Pricing: Define pricing policy
the company has to make a price policy. Discounts can be given to consumers or resellers, who buy
large batches of a product. It is also possible to create different price levels for different customer
groups and geographical locations.
(5) Promotion: Define promotion expenditures
a detailed budget for the promotion activities has to be defined. With this budget, the promotion of
the new product can be designed and started.
(6) Promotion: Define sales force intensity
the size and capacity of the sales force have to be defined. The size depends on the expectations of the
product: does it demand much effort to sell and will it sell much?
(7) Distribution: Define distribution channels
the way of transport has to be chosen. It could be an existing distribution channel, that the company
already uses, but it could also be a new kind of distribution channel.
(8) Distribution: Define distribution expenditures
a detailed budget for the distribution of the new product has to be defined. With this budget, the
distribution of the new product can be organized and prepared
(9) Distribution: Define distribution intensity
the size and capacity of the distribution have to be defined. The size and capacity depends on the
expectations of the product: does the company think that the new product will be sold very much in a
short amount of time?

34. E-COMMERCE [THƯƠNG MẠI ĐIỆN TỬ]

 Definition: is trading in products or services using computer networks, such as the Internet.
 Classification: E-commerce businesses usually employ some or all of the following practices:
+ Provide Etail [online retail] or "virtual storefronts" on websites with online catalogs, sometimes gathered
into a virtual mall. [cung cấp thông tin]
+ Buy or sell on websites or online marketplaces. [online purchasing]
 + Gather and use demographic data through web contacts and social media. [Thu thập, sử dụng dữ liệu cá
nhân]
+ Use electronic data interchange, the business-to-business exchange of data. [Trao đổi dữ liệu B2B]
+ Reach prospective and established customers by e-mail or fax (for example, with newsletters). [Tiếp cận
khách hàng bằng các phương tiện online]
+ Use business-to-business buying and selling. [Mua bán B2B online]
+ Provide secure business transactions. [cung cấp giao dịch an toàn]
 Advantages:
+ Overcome geographical limitations [không còn giới hạn địa lý]
+ approach the bigger market - gain new customers with search engine visibility [tiếp cận thị trường mới]
+ lower costs [chi phí thấp]
+ locate the product quicker [định vị sản phẩm nhanh hơn]
+ eliminate travel time and cost [giảm thời gian và chi phí đi lại]
+ provide comparison shopping and abundant information [cung cấp thông tin để so sánh]
+ remain open all the time [hoạt động 24/7]
 Disadvantages:
+ Ecommerce lacks that personal touch [không có tương tác trực tiếp giữa người mua và bán]
+ ecommerce delays goods: it takes amount of time to deliver goods from shop to you.
+ many goods cannot be purchased online: medicine,…
+ ecommerce does not allow you to experience the product before purchase [không thử trước khi mua]
+ anyone can set up an ecommerce website [quá nhiều website, không biết thật giả thế nào]
+ security [internet supplies a very fertilizing ground for fraud]

35. COMMERCIAL LAWS [LUẬT THƯƠNG MẠI]

 Definition: is the subject studying the commercial law or business law. Business law is a branch of civil law
that applies to the rights, relations, and conduct of persons and businesses engaged in commerce,
merchandising, trade, and sales.
 Type of business entity [các dạng thực thể kinh tế]:
+ Corporation [tập đoàn]: is a separate legal entity that has been incorporated either directly through
legislation or through a registration process established by law. Incorporated entities have legal rights and
liabilities that are distinct from their employees, shareholders, and members, and may conduct business as
either a profit-seeking business or not-for-profit.
+ A non-governmental organization [doanh nghiệp ngoài quốc doanh](NGO) is an organization that is
neither a part of a government nor a conventional for-profit business. Usually set up by ordinary citizens,
NGOs may be funded by governments, foundations or businesses. Some avoid formal funding altogether and
are run primarily by volunteers. NGOs are highly diverse group of organizations engaged with a wide range
of activities, and take different forms in different parts of the world. Some may have charitable status, while
others may be registered for tax exemption based on recognition of social purposes. Others may be fronts for
political, religious or other interest groups .
+ A Limited Liability Company [Công ty TNHH] is a flexible form of enterprise that blends elements of
partnership and corporate structures. An LLC is not a corporation [tập đoàn].
* Advantages of a limited company
* Disadvantages of a limited company
+ A partnership [liên doanh] is an arrangement in which parties agree to cooperate to advance their mutual
interests.
+ A Joint Stock Company [Công ty cổ phần]:
+ A sole proprietorship [tư nhân 1 thành viên], also known as the sole trader or simply a proprietorship,
is a type of business entity that is owned and run by one individual and in which there is no legal distinction
between the owner and the business [không có sự phân biệt trách nhiệm của chủ sở hữu và công ty] . The
owner receives all profits (subject to taxation specific to the business) and has unlimited responsibility for all
losses and debts. Every asset of the business is owned by the proprietor and all debts of the business are the
proprietor's. It is a "sole" proprietorship in contrast with partnerships. A sole proprietor may use a trade name
or business name other than his or her legal name.
* Advantages of A sole proprietorship
It is easy to organize this business. Only small amounts of capital are needed to start and run a
business.
It permits a high degree of flexibility to the owner since he/she is the boss of the business
establishment.
Due to the owner's unlimited liability, some creditors are more willing to extend credit.
The owner receives all the profit of the business.
No risk of fraud by a partner.
It is easier if you are a good leader.
If you know what you are doing, then you can easily take your business to the top.
You are your own boss.
* Disadvantages of A sole proprietorship
Raising capital for a proprietorship is more difficult. It’s impossible to get in a business with more
financial entry-barriers.
Has limited resources. Banks are reluctant to grant loans to proprietorship considering its small assets
and high mortality rate.
 Unlimited liability [nghĩa vụ không hạn chế] for business debts. The single owner is responsible for
paying all debts and damages of their business.
If the firm fails, creditors[chủ nợ] may force the sale of the proprietor's personal property as well as
their business property to satisfy their claim.
When the owner dies, the continuation of the business is difficult, because a new owner must
typically accept all liabilities of the business.
+ A cooperative [hợp tác xã] ("coop") or co-operative ("co-op") is an autonomous association of persons
who voluntarily cooperate for their mutual social, economic, and cultural benefit. Cooperatives include non-
profit community organizations and businesses that are owned and managed by the people who use its
services (a consumer cooperative) or by the people who work there (a worker cooperative) or by the people
who live there (a housing cooperative), hybrids such as worker cooperatives that are also consumer
cooperatives or credit unions, multi-stakeholder cooperatives such as those that bring together civil society
and local actors to deliver community needs, and second and third tier cooperatives whose members are other
cooperatives.
 Start-up a company:
+ Regulation to prohibit establishing a company, to govern or to finance for a star-up a company.
+ Principle of assessing the joined asset to start-up a company and issue of transferring the possesion of
properties.
 Dissolution [giải thể công ty]:
The aim of dissolution and liquidation [thanh lý tài sản] is for a company to withdraw correctly from the
market.
+ Distinguish dissolution and bankruptcy: Dissolution refers to the ceasing of operations[chấm dứt hoạt
động] and (generally) breaking apart of the assets of the company for sale [bán đi một phần tài sản]. A
company does not have to be bankrupt to be dissolved....closing one and selling off the assets is enough.
There’re many factors that can lead to dissolution.
+ Bankruptcy [phá sản]: the debtor [người nợ] is not able to complete the obligation of payment for the
creditors [chủ nợ]. If the debtor himself submits the request, it is called a voluntary procedure [phá sản tự
nguyện], whereby he must show proof of the level of his debt and his insolvency [/in'sɔlvənsi/, tình trạng
không trả được nợ]. If the request is submitted by a creditor, it is referred to as compulsory proceedings [phá
sản bắt buộc] and must be based on legal facts.
 Contract: is an agreement having a lawful object entered into voluntarily by two or more parties, each of
whom intends to create one or more legal obligations between them. Contracts are widely used in
commercial law, and form the legal foundation for transactions across the world. The main parts of a
 contract: sides, concept of arrangement, obligation and right of each sides, conditions of contract, termination
of the contract, effectiveness of contract.
 Commercial agent:Commercial agents are entrusted[giao phó, ủy thác] with arranging the sale goods or
concluding transactions in the name of and on behalf of the principal [chủ hàng]
 Commercial arbitration [phân xử thương mại]:Commercial arbitration is conducted pursuant to an
arbitration agreement between the parties in dispute. An arbitration agreement is an agreement in writing to
refer disputes of a commercial nature that arise under a contract for resolution by arbitration. In the contract,
the arbitrator [trọng tài thương mại] will be clearly denoted.

36. DISSERTATION (E-COMMERCE)

 The tittle of thesis:“Some solutions to enhance the e-marketing activities in the New Age JSC”.
E-marketing or online marketing is a form of marketing and advertising which uses the Internet to deliver
promotional marketing messages to consumers. It includes email marketing, search engine marketing (SEM),
social media marketing, many types of display advertising (including web banner advertising), and mobile
advertising.
New Age JSC is a company selling the office equipment, household devices and industrial instruments. Its
business operation primarily bases on the Internet. They have the website including the goods catalogues and
also integrating the online purchasing function.
Several online marketing methods that the company used:
+ Display advertising
+ Search Engine Marketing (SEM)
+ Social media marketing
+ Mobile Advertising
+ Email Advertising