| 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) |
Adequate knowledge in mathematics, science and engineering subjects pertaining to the relevant discipline; ability to use theoretical and applied information in these areas to model and solve engineering problems. |
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| 2) |
Ability to identify, formulate, and solve complex engineering problems; ability to select and apply proper analysis and modelling methods for this purpose. |
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| 3) |
Ability to design a complex system, process, device or product under realistic constraints and conditions, in such a way so as to meet the desired result; ability to apply modern design methods for this purpose. (Realistic constraints and conditions may include factors such as economic and environmental issues, sustainability, manufacturability, ethics, health, safety issues, and social and political issues according to the nature of the design.) |
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| 4) |
Ability to devise, select, and use modern techniques and tools needed for engineering practice; ability to employ information technologies effectively. |
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| 5) |
Ability to design and conduct experiments, gather data, analyse and interpret results for investigating engineering problems. |
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| 6) |
Ability to work efficiently in intra-disciplinary and multi-disciplinary teams; ability to work individually. |
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| 7) |
Ability to communicate effectively i Turkish, both orally and in writing; knowledge of a minimum of one foreign language. |
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| 8) |
Recognition of the need for lifelong learning; ability to access information, to follow developments in science and technology, and to continue to educate him/herself. |
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| 9) |
Awareness of professional and ethical responsibility. |
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| 10) |
Information about business life practices such as project management, risk management, and change management; awareness of entrepreneurship, innovation, and sustainable development. |
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| 11) |
Knowledge about contemporary issues and the global and societal effects of engineering practices on health, environment, and safety; awareness of the legal consequences of engineering solutions. |
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ISTANBUL OKAN UNIVERSITY INFORMATION PACKAGE / COURSE CATALOGUE
