International Trade Operations (5 cr)

Objective

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

Materials

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

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

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.

Qualifications

Supply Chain Management or related basic studies