1 x 1-hour tutorial weekly
1 x 2-hour on-line lecture weekly
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