Introductory description

To provide an overview of International Trade and a foundation and context for the International Trade, Strategy and Operations masters degree.

The module will provide students with the opportunity to develop a thorough understanding of international trade theory, business behaviour, and trade policy. In doing so, it will explore the microeconomic fundamentals and strategic elements of trading internationally and globally.

The module will cover key areas of business in an international context including legal constraints and opportunities, marketing and sales, finance and operations, which will provide candidates the opportunity to consider these issues in detail in an applied context.

Module aims

Outline syllabus

This is an indicative module outline only to give an indication of the sort of topics that may be covered. Actual sessions held may differ.

To set the global context in terms of the international environment for trade.

To integrate learning in the areas of:

• finance and exchange risk management;
  -operational aspects including logistics and customs;
  -management of multinational and cross cultural teams;
  -appreciating perceptions of product and service in multiple national markets;
  -exploring the microeconomic fundamentals of trade for business strategy;
  -understanding the complexity and precedence of different trade policy and legal frameworks in global trade.

The indicative content will look to explore the theory and application in relation to:
-Microeconomic and Macroeconomic fundamentals of Trade;
-Logistics and operations;
-Legal constraints and opportunities;
-Management of cross cultural and international teams;
-Marketing of products and services nationally and internationally;
-Finance including exchange rate risk management;
-Trade policy and the potential barriers to trade.

Learning outcomes

By the end of the module, students should be able to:

• Critically assess the relevance of international trade theory to trade strategy and decision making.
• Critically evaluate the impact of global changes as they affect trade.
• Empirically evaluate international trade principles in order to design appropriate trading solutions in different international contexts.
• Critically explore the main strategic decisions to be taken when establishing international trading solutions.

Indicative reading list

Charles W. L. Hill and G. Tomas M. Hult (2019) International business: competing in the global marketplace. 12e edn. New York, NY: McGraw-Hill Education.

Edward D. Mansfield (2015) International trade and the new global economy. Cheltenham: Edward Elgar Pub. Ltd, 2015.

Elhanan Helpman (2011) Understanding global trade. Cambridge, Mass: Belknap Press of Harvard University Press.

Eun, C. S. and Resnick, B. G. (2018) International financial management. Eight edition. New York, NY: McGraw Hill Education.

Feenstra, R. and Taylor, A. (2017) International Trade. 4 ed. New York: Worth Publishers Inc.,U.S.

Glowik, M. (2017) Global strategy in the service industries: dynamics, analysis, growth. Abingdon, Oxon: Routledge.

Hill, C. W. L. and Hult, G. T. M. (2018) Global business today. 10th edition. New York: McGraw-Hill Education.

Hopkins, R. A. (2017) Grow your global markets: handbook for successful market entry. [Berkeley, California]: Apress.

Krugman, P. R., Obstfeld, M. and Melitz, M. J. (2018) International finance: theory and policy. Eleventh edition. Harlow, England: Pearson.

Paul R. Krugman, Maurice Obstfeld and Marc J. Melitz (2018) ‘International trade: theory and policy’, in International economics: theory & policy. Eleventh edition. Harlow, England: Pearson.

Reuvid, J. and Sherlock, J. (2011) International trade: an essential guide to the principles and practice of export. London, UK: Kogan Page.

Sitkin, A. and Bowen, N. (2013) International business: challenges and choices. Second edition. Oxford: Oxford University Press.

International

The nature of the module provides students with a global perspective on international trade, and takes account of intercultural differences and the international diversity of the student body on the degree programme.

Subject specific skills

Knowledge, critique and application of international trade, strategy and operations theory into practice

Transferable skills

Critical thinking, problem solving, communication, adaptability, teamwork