| Course Objectives: |
The purpose of this course is to prepare students to be managers for the increasingly competitive international trade world. The emphasis of this course will be on approaches to and, operations and procedures of international trade.
Through chapters, readings, and case analyses, we will discuss issues related to basic theoretical approaches to international trade, terms of trade or Incoterms, terms of payment, international commercial documents. During the lectures, students will be taking on leadership responsibilities and work with other people in teams while developing their oral communication abilities and presentation skills
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| Course Content: |
At the end of this course the student will be able to:
• Explain the development of world trade and list its main features
• Recall and explain main approaches to trade
• Memorize, explain and compare Incoterms 2010
• Memorize, explain and compare terms of payment and ethical issues
• Recall, list and describe international commercial documents
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| Week |
Subject |
Related Preparation |
| 1) |
• Describe the course.
• Define the international trade.
• Describe the complexity of international trade.
• Discuss the number of countries involved in international trade.
• Syllabus.
• Understand the meaning of international trade.
• Describe the geography of international trade.
• Explain the complexity of international trade.
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Review of the track.
Completion of the library orientation process. Verification of completion.
Reading chapter 1.1 and 1.2. |
| 2) |
• Understand the increasing importance of international trade.
• Describe the trajectory of international trade compared to world GDP.
• Identify the huge surge of international trade after 1970s.
• Decsribe the varying importance of international trade for individual countries.
• Understand who trade with whom.
• Describe the changing pattern of international trade.
• Identify largest importers and exporters.
• Illustrate the importance of international trade.
• Identify the varying importance of international trade for individual countries.
• Explain the changing patterns of international trade.
• List the largest exporting and importing countries.
• Explain the changing composition of trade.
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Section 1.3 Read. |
| 3) |
• Understand the reasons of increasing importance of international trade.
• List the important agreements and institutions for international trade.
• List the reasons of increasing importance of international trade.
• Describe the four milestones of international trade.
• Explain regional trade blocs.
• Define the multinational corporations and outsourcing.
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Section 1.5 should be read. |
| 4) |
• Describe the main theories of international trade
• Compare the main theories of international trade
• Explain mercantilism.
• Understand absolute advantage theory of Adam Smith.
• Define the comparative advantage theory.
• Explain factor endowment and international product life cycle theories.
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Reading sections 6.1, 6.2 and 6.3. |
| 5) |
• Describe the need for international commercial terms (Incoterms).
• Explain the choice of Incoterms
• Define Incoterms.
• Explain the Incoterm strategy
• Differentiate between Incoterms 2000 and 2010
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Reading sections 6.4 and 6.10. |
| 6) |
• Classify Incoterms.
• Understand and compare groups of Incoterms.
• Differentiate between the transfer of costs and risk.
• Understand all modes and marine transport classification.
• Define Incoterms that are applicable to all modes.
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Reading sections 6.11 and 6.17. |
| 7) |
• List the common errors in Incoterms usage.
• Outline the costs and responsibilities of Incoterms.
• Define Incoterms that are applicable to marine transport.
• Summarize the responsibilities of Incoterms.
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No. |
| 8) |
• Midterm Exam
• Describe the complexity of international trade.
• Discuss the number of countries involved in international trade.
• Describe the changing pattern of international trade.
• Understand the increasing importance of international trade.
• Understand the reasons of increasing importance of international trade.
• List the important agreements and institutions for international trade.
• Describe the main theories of international trade.
• Compare the main theories of international trade.
• Understand and compare groups of Incoterms.
• Describe the geography of international trade.
• Illustrate the importance of international trade.
• Explain the changing patterns of international trade.
• Define the main theories of international trade.
• Define Incoterm rules.
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Reading sections 7.1 and 7.3. |
| 9) |
• Identify the risks in international trade and ethical issues.
• Discuss the balance between commercial risk and the risk of losing business
• Understand why there are risks in international trade.
• Define the types of risks in international trade.
• Describe the balance between commercial risk and the risk of losing business.
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Reading sections 7.4, 7.5 and 7.8. |
| 10) |
• Understand different ways of payment in international trade.
• Describe and compare open account, cash in advance and documentary collection.
• Discuss the applicability of different Terms of Payment.
• List the terms of payment.
• Define open account.
• Define cash in advance.
• Describe documentary collection
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Reading sections 7.6 and 7.7. |
| 11) |
• Understand the need for Letter of Credit.
• Illustrate the process of Letter of Credit
• List different types of Letter of Credit
• Define the Letter of Credit
• Describe the process of Letter of Credit
• Define the types of Letter of Credit
• Discuss the applicability of Letter of Credit
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Reading sections 9.1, 9.2 and 9.3. |
| 12) |
• Understand the documentation requirement.
• Define the types of documents.
• Define the types of invoices.
• List the items of invoices.
• Describe the documentation requirement.
• List the types of invoices.
• Define the pro-forma invoice.
• Describe the commercial invoice.
• Understand the consular invoice.
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Reading chapter 9.4. |
| 13) |
• Describe the import documents.
• Understand why they are required.
• List the import documents
• Define certificate of origin.
• Describe certificate of inspection.
• Understand phyto-sanitary certificate.
• Define certificate of manufacture.
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Reading chapter 9.5. |
| 14) |
• Describe the transportation documents.
• Understand why they are required.
• List the transportation documents.
• Define ocean bill of lading.
• Define airway bill.
• Describe charter party.
• Define packing list.
• Understand manifest.
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No. |
| 15) |
• Evaluate students via final exam
• Understand the complexity of international trade.
• List the important agreements and institutions for international trade.
• Explain the choice of Incoterms.
• Outline the costs and responsibilities of Incoterms.
• Identify the risks in international trade.
• Understand different ways of payment in international trade.
• Define the types of documents.
• Final Exam
• Describe the geography of international trade.
• Describe the four milestones of international trade.
• Define the types of risks in international trade.
• List the terms of payment.
• Describe the process of Letter of Credit
• List the import documents.
• List the types of invoices.
• List the transportation documents.
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No. |
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Program Outcomes |
Level of Contribution |
| 1) |
Having advanced theoretical and practical knowledge supported by textbooks, application tools and other resources containing current information in the field. |
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| 1) |
Graduates are capable of performing written and oral translation in at least one field of expertise, in accordance with the existing needs of professional life. |
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| 2) |
To be able to use advanced theoretical and applied knowledge in the field.
To be able to interpret and evaluate data, identify problems, analyze, and develop solutions based on research and evidence using advanced knowledge and skills in the field. |
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| 2) |
Graduates have multilingual communication skills adequate to produce written and oral translations in language categories A, B, and C (language levels according to the European Language Portfolio on a Global Scale; language A at C2 level, language B at B2 level, language/s C at B1 level). |
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| 3) |
To be able to conduct an advanced study related to the field independently.
To take responsibility individually and as a team member to solve unforeseen and complex problems encountered in applications related to the field.
To be able to plan and manage activities for the development of employees under their responsibility within the framework of a project. |
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| 3) |
Graduates become familiar with the intellectual and cultural traditions in the cultures speaking A, B, and C languages and obtain awareness about behaviors and attitudes specific to such cultures. |
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| 4) |
To be able to evaluate the advanced knowledge and skills in the field with a critical approach,
To be able to determine learning needs and direct learning.
To be able to develop a positive attitude towards lifelong learning. |
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| 4) |
Graduates analyze written and oral texts produced in A, B and C languages, and comment on and translate them into the language A or B. |
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| 5) |
To be able to inform the related people and institutions on the subjects related to the field; To be able to convey their thoughts and solution suggestions for problems verbally and in writing.
To be able to share their thoughts and solution suggestions on issues related to the field with the experts and non-experts by supporting them with quantitative and qualitative data.
To be able to organize and implement projects and activities for the social environment in which they live with a sense of social responsibility.
To be able to follow the information in the field and communicate with colleagues by using a foreign language at least at the European Language Portfolio B1 General Level.
To be able to use information and communication technologies with at least the European Computer Driving License Advanced Level computer software required by the field. |
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| 5) |
Graduates use the contemporary tools and techniques required for the practice of translation, as well as information and communication technologies together with computer hardware and software knowledge required by the field. |
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| 6) |
Graduates possess sufficient knowledge of theoretical and methodological approaches in translation studies to begin graduate studies in the field. |
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| 6) |
Acting in accordance with social, scientific, cultural and ethical values in the stages of collecting, interpreting, applying and announcing the results of the field.
Having sufficient awareness of the universality of social rights, social justice, quality culture and protection of cultural values, environmental protection, occupational health and safety. |
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| 7) |
Graduates possess sufficient knowledge to evaluate issues related to the education of translators as well as to occupational organizing and ethics within the profession, and to propose, from a social and scientific perspective, solutions to such issues in the various fields in which the need for translation arises. |
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| 8) |
Graduates have the ability to perform disciplinary as well as inter-disciplinary team work. |
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