Year
2021
Units
4.5
Contact
1 x 3-hour workshop weekly
Prerequisites
1 1 of BUSN1004, BUSN2019
2 Admission into BIBWST-Bachelor of International Business (Wine, Spirits and Tourism)
Must Satisfy: ((1) or (2))
Topic description

This topic outlines the theory of international merchandise trade and then deals with the practical issues associated with import/export activities. As such, the topic provides a history of international trade and then presents the current trends in global exporting. It explains the organisations and factors impacting on import/export activity and how to identify overseas opportunities. It then examines market research and entry, INCOTERMS, payments, risk management, pricing, transportation, and foreign currency issues among other things.

Educational aims

This topic aims to:

  • Provide students with an appreciation of the past and present context of international trade
  • Provide students with an understanding of the numerous organisations, at various levels, that impact on the import/export activities of a firm
  • Teach students how to undertake research and identify opportunities in overseas markets
  • Provide students with the skills to properly price goods to be bought or sold in international markets
  • Introduce students to the documentation necessary to undertake international trade
  • Provide students with an appreciation of the payment methods commonly employed during import/export activities
  • To provide students with an understanding of the most appropriate methods to ship goods between countries
Expected learning outcomes
On completion of this topic you will be expected to be able to:

  1. Understand the current international trade environment
  2. Undertake research that helps you identify overseas opportunities and engage in international trade
  3. Properly price goods to be sold overseas
  4. Appreciate the role of global, national and local organisations in the trade of goods internationally
  5. Organise the shipment of goods to or from overseas countries and deal with the documentation associated with these transactions
  6. Understand what INCOTERMS are and their role in import/export activity
  7. Devise appropriate payment terms and strategies

Key dates and timetable

(1), (2)

Each class is numbered in brackets.
Where more than one class is offered, students normally attend only one.

Classes are held weekly unless otherwise indicated.

FULL

If you are enrolled for this topic, but all classes for one of the activities (eg tutorials) are full,
contact your College Office for assistance. Full classes frequently occur near the start of semester.

Students may still enrol in topics with full classes as more places will be made available as needed.

If this padlock appears next to an activity name (eg Lecture), then class registration is closed for this activity.

Class registration normally closes at the end of week 2 of each semester.

Classes in a stream are grouped so that the same students attend all classes in that stream.
Registration in the stream will result in registration in all classes.
  Unless otherwise advised, classes are not held during semester breaks or on public holidays.