International Business Students Explore Global Trade with Guest Speaker Dr Jurgen Peci

ACT recently had the pleasure of welcoming Dr Jurgen Peci (ACT Class of 2007) virtually to its International Business class for a thought-provoking session on the forces shaping global trade today.

Now a Lecturer in Economics at the University of Reading (UK), where he also completed his PhD, Dr Peci shared insights from his academic work on Non-Tariff Measures and their connection to the Sustainable Development Goals (SDGs) in international trade. His virtual guest lecture gave students the opportunity to engage with a scholar whose work bridges economic theory, policy, and some of the most pressing global challenges of our time.

During the session, Dr Peci introduced students to the Gravity Model of Trade, explaining the core logic behind why countries trade and how factors such as economic size and distance continue to influence global exchange. Building on this foundation, he encouraged students to think more broadly about what drives success in international markets.

The discussion highlighted that trade performance is not determined by geography and scale alone. National competitiveness, students learned, is also shaped by a wider set of conditions, including factor endowments, demand sophistication, related and supporting industries, as well as firm strategy and rivalry.

The session concluded with an important reflection on the future of international trade: that long-term success in global markets increasingly depends on balancing economic performance, social welfare, and environmental responsibility.

Guest sessions such as this enrich the classroom experience at ACT by connecting students with accomplished alumni and international scholars, while bringing contemporary global business issues to life through real academic and professional expertise.