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The Diploma in International Trade-BTEC Level 4 Professional Diploma in International Trade

This course is specially designed for students who wish to learn how international trade operates, and how increased exports can help GDP. The course will also outline clearly how imports and exports may be handled in a practical way.

This course is closely related to Maritime Management.

Entry Qualifications
Students must have a good knowledge of the English Language. No other formal qualifications are required in International Trade though 4 GCE's or their equivalent must have been achieved.

Duration of course
The duration of the course is 24 weeks. There is normally only one intake of students per year, commencing in late September and ending in March the following year.

Syllabus
There are five units:

International Trade                                                                                                                     European, North American Middle East, Far East, Latin America, China, and South Africa. Major commodity flows. Economic/ Trade blocs ASEAN, NAFTA,EU, MERCOSUR, CIS.International Trade Agencies, - WTO, OECD, UNCTAD, ICC, OPEC. Future trends focusing on globalisation of markets and product out-sourcing.International Physical Distribution.

InternationalPhysical Distribution and Logistics                                                                    Characteristics of International Transport modes and their application. - Full understanding of INCOTERMS - Role/application of the major documentation involved in the execution of the export sales contract embracing transport, customs, insurance, commercial, finance. - Comprehend the range of funding options of the export sales contract. - Focus on cargo insurance, packing, and freight rates.International Marketing &

International Marketing
What is International Marketing? Exploring Needs, Wants and Desires in the International environment.International Market Research Exploration of Primary and Secondary Data to find the answers to Research problems. Sources of data. Construction of Questionnaires. Problems in research. Use of published statistics.

International Market Segmentation. Finding out about the characteristics of the people in the local market place. Demographic profiling techniques, traditional and contemporary. The International Environments. Social, Cultural, Economic, Political, Legal and Technological aspects. Comparing and contrasting each in developing and developed countries.

International purchasing behaviour. Exploration of the factors involved in the purchasing process and the factors which may change them. Product Standardisation v Modification.

Trade Blocs.
The role of supranational trade bodies in the changing development of global trade. Their effect on selecting which markets to enter and their changing nature. Pricing. Pricing policies for FMCG and Industrial products and individual and business consumers. Understanding the role of currency, exchange rates and methods of countertrade. Hedging.

International Marketing in the Distribution chain. upply chain management from manufacturer to consumer.International Communications.The roles of Advertising, Public Relations, Cinema, Sales Promotion and Direct arketing in the integrated communication process. Creating material in each method for FMCG and business communications.
 

Finance and International Trade

 

Types of commercial organizations: types of legal business organisations; the advantages and disadvantages of incorporation. 

Financial terminology and statements: purpose, structure and form of main financial statements ie: balance sheet, profit and loss account and cashflow statement, introduction to debt, credit; record keeping: accounts and ledgers, financial reporting to management, role of credit controller

  

Costs, their significance and behaviour: fixed and variable costs, overheads and  

 Indirect costs, apportionment and recovery; cost reporting and control methods; relationship with pricing and profit planning.

Range of sources: sources for different businesses, share capital, loans, third-party investment, leasing, working capital stock control, cash mangement, debtor factoring

 

Implications for choice: legal, financial and dilution of control, bankruptcy.Choosing a sources: advantages and disadvantages of different sources, suitability for international traders.

Exchange rates: fixed and floating rates; adjustable peg systems; inherent risks: foreign exchange minimization techniques; the foreign exchange market, spot and forward rates; exchange risks: transaction, translation and economic; assessing and hedging against exchange risk; monetary union and the single currency in the EU.

  

Inherent risks: country and buyer, methods of risk assessment, credit insurance; pricing considerations: foreign currency versus sterling, delivery terms, division of cost, commissions and mark ups. 

Credit status and management: factors affecting choice of payment method; current settlement methods.

Bills of exchange: procedures, clausing, Uniform Rules (URC 522), noting and   

protesting.

 Documentary credits: security, types, opening procedures, liabilities and cost   

 division between buyer and seller; Uniform Customs and Practice (UCP 500)

 procedures on receipt and prior to presentation;  Indemnities, guarantees and bonds; types and usage.

  

International Business

The nature and purpose of the European union: single market of 365 million people; free trade in goods and services; free movement of capital and labour; impact of improved road and rail infrastructure; minimal logistic delays at boarder crossings; key features of the single European act; role of the European economic and community; Euro-zone versus non-Euro zone members of the EU 

EU  directives: those affecting all EU business including UK firms operating domestically eg Social Charter; distinguished from those governing intra-EU trade; fiscal harmonization, anti discrimination legislation and working time regulations; environmental issues; energy and transport issues; consumer protection legislation.

 Likely future developments: continued expansion.International business: globalisation; multinational corporations; competition; exports; imports; economies of scale; foreign investment; developing countries. 

Economic activities: restrictive trade practices; free trade; barriers to free trade; embargoes; quotas; economic alliances.

Cultural differences: how culture affects international trade through language; religion; values; attitudes; customs; manners; education; material culture; institutions; infrastructure; work attitudes; cross-cultural training. 

Opportunities of a pan-European market presence; expansion from one EU state to a pan EU approach in pursuit of growth, exploiting extended market sourcing and supply opportunities; use of EU internet domain names. 

International monetary environment: foreign exchange system; European monetary system (EMS); balance of payment; international money markets; international banking; international debt; methods of protection against exchange rate fluctuations. 

Tax harmonization: eg VAT monetary policy interest and exchange rates determined by European Central Bank  (ECB); poorer record of financial stability than that of the Bank of England, post independence 1997); weakening of the Euro against the US dollar; increased national economic independence; increased freedom to manage central and local government spending, including social welfare provision.

Marketing: identifying markets; data analysis; marketing information systems; promotion; advertising; adaption/standardisation of product and promotion. Production: standardisation of products; product differentiation; product pricing. Distribution: distribution channels; transportation; supply chain; logistics.  Human resources management: staff; foreign personnel; expatriate personnel; recruitment; induction and training; cross-cultural training

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