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INTERNATIONAL TRADE

Syllabus

EN IT

Learning Objectives

LEARNING OUTCOMES: students will be empowered with know how, skills and abilities for carrying out all steps of an export operation

KNOWLEDGE AND UNDERSTANDING: international trade rules, techniques of markets assessment, foreign partners and clients scouting, international negotiations, marketing, contracts, payments, transport

APPLYING KNOWLEDGE AND UNDERSTANDING: students will be in the position to surf through internet sites (quoted during lectures) in order to get pieces of information so as to take correct decisions relating to the several stages of an export operation

MAKING JUDGEMENTS: students will be able to realize the meaning of collected data so as to choose the best solutions for the setting of an export operation

COMMUNICATION SKILLS: students can interact with counterparts involved in an export operation properly, that is using correct terms and concepts

LEARNING SKILLS: students may deal with documents and problems stemming from an export operation

The teaching is aimed at providing students with the ability of understanding and implementing concepts, knowledge, know-how, tools, good practices relating to international trade, chiefly from the operational perspective required at business level, after a necessary introduction to Wto trade rules, as outlined in its 6 main agreements.
At the end of the course, participants, thanks to the interactive relationship with the lecturer, and to internet surfing, should be able to use the most important means available in the framework of international trade, so as to carry out a set of tasks and activities for companies engaged in export operations, as well as for public institutions supporting economic operators, or anyway to be ready to tackle them.
A special focus is devoted to practical needs for firms operating in international sales, especially those relating to markets assessment, foreign clients scouting, international marketing strategies, international negotiations, international contracts, international payments and guarantees, international transportation.
In all those fields, problems and solutions will be examined, as well as related aspects will be considered, such as the protection of intellectual property rights.
In short, the cycle of seminars will deliver skills and know-how requested for the export manager position, which is often a vacancy in the 130,000 exporting Italian companies, as well as in millions of exporting enterprises around the globe.

Prerequisites

No prerequisite is required, but the knowledge of international law, commercial law and techniques of financial operations facilitates the learning process

Program

Lecture 1
Concepts of globalisation, internationalisation, principles of trade rules (2 hours)

- Definition of globalisation
- Definition of internationalisation
- Definition of international trade
- Principles of trade rules

Lecture 2
International Trade rules and Wto agreements (2 hours)

- The 6 Wto agreements
- The 3 parts of Gatt and Gats
- The Wto Institution

Lecture 3
Market assessment and Business Intelligence (3 hours)

- Markets classification
- Market assessment criteria
- Choice of market assessment criteria
- Sources of general data
- Sources of specific data
- Other sources potentially useful

Lecture 4
International marketing decisions (4P decisions) (3 hours)

- Definition and objectives of marketing
- Different marketing strategies
- Content of a product policy (decisions on product characteristics, product name,
size of the product, packaging of the product)
- Content of a price policy (choice of currency, relationship price/cost, relationship price/competitors’ price, variability of the price)
- Content of a promotional policy (promotional initiatives, advertisement, corporate communication)
- Content of a place policy (choice of the market, the distribution channel)

Lecture 5
International negotiations techniques (2 hours)

- Negotiation process
- Negotiation preparation
- Negotiation principles
- Negotiation management
- Negotiations outcome

Lecture 6
International contracts (2 hours)

- International contracts categories
- International contracts content
- International contracts procedure
- International contracts laws

Lecture 7
International payments and guarantees (2 hours)

- Risks for international payments
- Coverage of risks
- Main aspects of international payments
- Methods of international payments
- Letter of Credit

Lecture 8
International transportation and Incoterms (2 hours)

- Choice of international transportation means
- Contract of carriage of goods
- Incoterms
- Choice of Incoterms

Books

In order to pass the exam, students have to study lecturer's slides, which are sent to attending students via email.

Moreover, students will receive in class (using a memory stick) a folder with further materials, useful not for the exam, since for executing business operations relating to international trade.

Bibliography

Optional Bibliography:
- Ebook “Export is more than export: Strategies, Tools and Decisions”, author Massimiliano Di Pace, editor Federmanager Academy, April 2022 (free download);
- Ebook “Il business plan per l'internazionalizzazione” (The business plan for enterprises internationalisation), editor FiscoeTasse (Maggioli Editore), author Massimiliano Di Pace, Isbn 9788891640680, February 2020 (in Italian language);
- Ebook “Wto” (delivered by the lecturer).

Teaching methods

Lectures will be provided in classroom in traditional face-to-face teaching.

The lecturer will comment slides, surf in internet sites with databank, recall operational situations, for which problems and solutions are provided.

The lecturer is available after the lecture and via email communications.

Exam Rules

Only students attending at least 80% of the scheduled lectures (that is 6 out of 8) will be allowed to obtain the 3 CFUs foreseen for the course.

In order to obtain the 3 CFU credits for the course, students are required to pass an oral exam, based on 3 questions aimed at verifying the knowledge and abilities stemming from the participation to the course.

The outcome of the exam is "idoneo/non idoneo" (passed/not passed).

The first question is on the theoretical part of the course (Lectures 1-2), the second question on the part relating to export techniques (all other lessons), and the third on the search of data contained in official websites providing useful information for the management of an export operation, as explained during the teaching.

There will be 2 dates of exam