International trade and economics
The International trade and economics is also called International business and trade or International economy and trade. Program seeks to develop capabilities for sustainable and competitive managerial decision making. Continuous globalization processes of domestic economies have led to a situation where firms must face and comprehend the impact from global production and trade networks. Consequently, there is a growing need for firms and managers to respond to the increased opportunities and complexities of the greater and more relaxed movement of capital, people, services, products and knowledge as they are subject to and must understand stakeholders at the national and supranational levels.
The International trade and economics programme takes an interdisciplinary approach, synthesizing methods of international business environment analysis with theories concerning internationalization and strategic management of multinational corporations. This also includes an understanding of the legal framework affecting international trade and foreign direct investment. It has its foundation in both international business studies as well as economic geography, making the program unique in the area of international management.
The International trade and economics programme gives you a distinctive combination of training and knowledge about the functioning of multinational companies in the global economy. This is viewed from a business perspective and supported by a profound legal understanding concerning international trade. During the programme, deep insights are accumulated concerning different industries and countries through courses that enhance the individual analysis capability and give valuable skills and understanding concerning project team work. Furthermore, the programme provides opportunities for field work in an international environment and studies at the International trade and economics universities abroad.
The teaching is carried out with a strong emphasis on real world examples and case studies from global manufacturing and service companies that are found in both Western and emerging market contexts. Many of the case studies and project assignments are implemented in close cooperation with established multinational corporations as well as internationalizing small and medium sized firms. The programme is especially designed for students who plan a future career in international companies, e.g., in marketing, purchasing, exports and strategic management. The programme is also aimed at students who wish to specialize in trade policy and/or trade promotion in international organizations, or national government institutions.
After graduating from the International trade and economics programme you can enter a variety of professions. You can work as a brand manager, purchasing buyer, management consultant, sales and business developer or account manager. A career at international organizations is also usual for our graduates.
Masters in international trade and economics
Masters in international trade and economics or International trade and business can be abbreviated to MIT/M.I.T.B. The masters in international trade and economics is designed to give you a deep understanding of the drivers of globalization, the process of internationalization, how the global economic environment influences firms' competitive responses, and how the world is interconnected. This results in graduates ready to deal with the challenges of expanding the business into new global markets along with those of managing teams across cultures and continents.It is an important international trade and economics degree.
By completing the masters in international trade and economics, you will be in a position to identify the motives and means of servicing foreign markets, address controversial issues in international trade and business, formulate your own international business plans, and appreciate the factors that drive performance in the global economy.
The Masters in international trade and economics will equip you with the knowledge and skills necessary to master the complexity required for making decisions in a globalized business environment. It will also add to your breadth of understanding of how global firms operate, prepare you to conduct business in a global context, and embrace emerging issues in international trade and business.
TOP 5 Careers in International Trade and Economics
1. Interpreters and Translators
Interpreters and translators who can improve communication between a company and its clients, employees and partners will continue to be sought after in the years to come. In fact, the growth rate in the translation industry has been increasing, and was at 6.46% last year. The profession is projected to grow 29% from 2018 to 2024.
2. International Trade Finance Manager
Financial institutions employ a number of trained professionals to navigate the complex and constantly changing international market, requiring a unique set of skills. International trade finance professionals develop plans and strategies involving exchange rates, foreign investments and other factors affecting global finance. There is no shortage of career opportunities in international banking, financial management, business development and trade. There are financial jobs in almost every company in all sectors. And as more companies extend their client bases through international expansion, the demand for international finance services will continue to increase.
3. Market Research Analysts
Monster.ca has ranked Market Research Analysts in the top eight jobs of the future, and while it may be aided by developments in artificial intelligence and big data, you can rest assured this is one position that won t be lost to automation in the foreseeable future. International markets are in constant flux as the global business environment changes with political and economic developments. Companies need to stay on top of who their competition is, who is purchasing their products, and where the opportunities for growth are. This kind of intelligence is already a key driver behind most businesses, making market research analysts an indispensable member of any staff, and salaries will continue to reflect that.
4. International Marketing Consultant
Much like a market research analyst, marketing consultants have to keep tabs on the constantly changing global trade landscape and identify strategies and opportunities to sell a company s products and services. International marketing consultants must also stay on top of cultural intricacies, and identify the right messaging and implementation plan to succeed in markets around the world. Companies are increasingly targeting small or micro-markets , highly specific niche markets within a traditionally wider region, a task that requires even more skill and precision. Positions are available in almost every sector, so the opportunities are everywhere, but as such they vary widely in specific specialties and salaries. So look for the niche that best fits your personality and aptitude and seek related training to add to your competencies. This will give you the best shot at the competitive higher paying positions out there.
5. International Business Development
International business development professionals play a key role in the global businesses they work for. Working in a variety of international markets, they are vital to their companies growth as they develop new customers and maintain relationships with their current customers. IBD professionals need to be able to master and balance a handful of important tasks such as establishing the feasibility of entering new international markets, expansion planning and market entry strategies, adapting products and services, sales and marketing, and international law and ethics. If this sounds like a tall order, it s because it is! That s why it s one of the most sought after, growing positions in global trade today. Salaries range from sector to sector and are widely affected by commission, but this can be a very lucrative position for those who have the skills.
Introduction to World Economy,
International Trade Theory and Practice
Principles of Management
International Commercial Law
Foreign Trade Transportation and Insurance
International Trade Electronic Practice
Business Communication and Correspondence
International Trade Simulation
Common skills gained from this degree
- Establishing international trade
- Market expansion planning
- market entry strategies
- Adaptive product production
- International sales competence
- Excellent Intercultural competence