International Trade Operations (5 ECTS)

Learning outcomes

The student understands the development and structure of international trade and import and export processes and is able to recognize the obligations, costs and risks of the seller and the buyer.

The student is able to compare forwarding and logistics services and analyse transport options for shipments based on delivery terms, freight costs, time, transport risks and sustainability. The student understands what documentation is needed and how customs fees are determined.

The student is able to analyse risks of international trade and how to protect against them e.g. by applying more secure payment methods or with sufficient insurance cover.

Content

- Import and export processes
- International transport
- Freight forwarding
- Freight and cargo shipping services and prices
- Risks and liabilities and managing them
- Delivery terms, Incoterms
- Documents related to international trade
- Customs procedures and duties
- Supply chain costs related to import and export
- Methods of international payments (CAD, COD Letter of Credit)
- Insurances
- Marking and labelling shipments

Prerequisites

Supply Chain Management or related basic studies

Teaching methods

Interactive lectures
Study visit and guest lectures
Independent study: literature and assignments, study material and exercises in Moodle
Import and export case studies
Business on the Move - game

Location and time

Interactive lectures take place both on campus at Leiritie Myyrmäki,Vantaa and online via Zoom or Teams for the whole group, which means that when online lectures, they are for the whole group at the same time and supported by Moodle learning platform, not as an alternative to on-campus-lectures.
Study visit and guest lectures either at the company premises and on campus or online depending on the COVID-19 situation and the preferences of companies and guest lecturers.
Business on the Move - game only on campus
In case COVID-19 situation does not enable on campus teaching, then the course is online.

Learning materials and recommended literature

ICC Guide to Export-Import - Global Standards for International Trade ( written by Guillermo C. Jimenez, published by ICC palvelu Oy, (2018) 5th edition

John Manners-Bell: Introduction to Global Logistics (2017), KoganPage, 2nd edition

Anders Grath: The Handbook of International Trade and Finance (2016), KoganPage, 4th edition

Incoterms 2020 by ICC: ICC rules for the use of domestic and international trade terms

World Trade Statistical Review 2020, World Trade Organisation 2021

Brodie; Peter: Commercial Shipping Handbook (2015) Routledge Chapman & Hall

Peter S. Morrell & Thomas Klein: Moving Boxes by Air, The Economics of International Air Cargo (2019), Routledge, 2nd edition

Alternative completion methods of implementation

100 % closed book exam. Reading and the time agreed separately with the lecturer

Exam dates and retake possibilities

Final exam at the end of April or beginning of May (weeks 17-18)
Resit exams in June and in August 2022

Further information for students

Part of online lectures are recorded. Students are informed about recording before it is started and recordings are available only for those accepted to the course.

Assessment methods and criteria

Final exam 60 %
Group assignment (import/export cases) 40 %

Evaluation scale

0-5

Assessment criteria, satisfactory (1)

The student has achieved the course objectives fairly. The student will be able to identify, define and use the course subject area’s concepts and models. The student understands the criteria and principles of the expertise development.

Assessment criteria, good (3)

The student has achieved the course objectives well, even though the knowledge and skills need improvement on some areas. The student is able to define the course concepts and models and are able to justify the analysis. The student is able to apply his/her knowledge in leisure, study and work situations. The student understands the importance of expertise in the field of business and is able to analyze his/her own expertise.

Assessment criteria, excellent (5)

The student has achieved the objectives of the course with excellent marks. The student masters commendably the course subject area’s concepts and models. The student is able to make justified and fluent analysis and to present concrete development measures. The student is well prepared to apply his/her knowledge in leisure, study and work situations. The student is able to analyze the business sector expertise and the development of his/her own expertise.

Assessment criteria, approved/failed

The student has achieved the course objectives fairly. The student will be able to identify, define and use the course subject area’s concepts and models. The student understands the criteria and principles of the expertise development.