Level 4: Diploma in International Trade

This module has been designed to provide a broad knowledge and understanding of the conditions under which international traders must operate their business and how business is affected by changes in the political, economic, social, and technological environment, both nationally and internationally.

Students will also be provided with a basic knowledge of the law relating to international trade, with a focus on the law of contract, sale of goods and agency law.

Learning Outcomes

By the time you have finished this module, you will be able to:

• 1. Demonstrate the impact of a range of significant economic conditions on international trade
• 2. Understand the range of Economic measures currently active in a country context.
• 3. Understand the main features of Law relating to international trade
• 4. Assess third-party actions from a legal viewpoint

Assessment Criteria

• 1.1 Identify economic measures of a stature considered to be ‘significant’
• 1.2 Outline the effect such measures have on a nation’s trade performance
• 2.1 Discuss the efficacy of some of the current economic measures active in a specific country context.
• 2.2 Outline the likely effect such measures may have on a specific country’s trading position.
• 3.1 Identify elements of law which are applied at international, regional and national level
• 3.2 Acknowledge the importance of contract law in international trade
• 3.3 Outline the main features of law relating to a special trading topic
• 4.1 Give advice on a hypothetical legal position
• 4.2 Recommend a legal course of action

This module provides students with an understanding of the keys to profitability in their business, and the most appropriate sources of finance to maximise such profits.

Students are also required to evaluate and attempt to reduce the various risks that are common to all international trade, including exchange risk and country and buyer credit risk, and to choose and operate the most appropriate methods of payment.

Learning Outcomes

By the time you have finished this module, you will be able to:

• 1. Understand the impact of a payment process on the finances of a company trading internationally
• 2. Understand the range of options currently available to finance international trade
• 3. Understand the main financial risks attached to trading internationally

Assessment Criteria

• 1.1 Identify a range of payment options for an exporter
• 1.2 Outline the effect such processes have on the company’s trade performance
• 2.1 Discuss the suitability of some of the current UK export assistance measures for all exporters
• 2.2 Outline the likely acceptance of such measures by UK companies
• 3.1 Quantify the levels of each risk for a given contract
• 3.2 Acknowledge the importance of risk assessment
• 3.3 Outline the main mitigation methods

This module introduces the basic marketing concept and the principles and practices of international marketing, developing an understanding of the part culture plays in the sales process.

Students learn to interpret the market environment, carry out appropriate research, analyse information accurately and devise appropriate marketing plans for the international environment.

Learning Outcomes

By the time you have finished this module, you will be able to:

• 1. Understand the key marketing elements that lead to international trade success
• 2. Apply current marketing theories to practices in international trade
• 3. Understand effective international market research and analysis processes

Assessment Criteria

• 1.1 Explain modifications to elements of the marketing mix to cater for international markets
• 1.2 Discuss the key differences between domestic and international marketing activity
• 2.1 Explain the impact of changed marketing tools on the conduct of international trade
• 2.2 Outline how revisions to the marketing plan impact on overall performance
• 3.1 Identify the differences in research practice needed to cater for the international perspective
• 3.2 Outline any limitations in market research results caused by the international dimension

This module addresses the merits of the different modes of transport, including factors relating to the choice of transport, provides an understanding of the different Incoterms, and recommends the appropriate term for a company’s international business.

Students will also learn to manage the administration of a company’s international trade, understanding a range of documents and their functions and appreciate the need for correct packing and insurance of goods, as well as having an effective relationship with international service providers.

Learning Outcomes

On completion of this course, the successful student will be able to

• 1.Understand the regulatory framework behind the shipment of goods in international trade
• 2.Understand the range of options currently available for the transportation of goods internationally
• 3.Know the commercial insurance coverage available to international traders

Assessment Criteria

• 1.1 Identify a range of documentary options for an exporter
• 1.2 Outline the customs processes required to export successfully
• 2.1 Discuss the relative commercial merits of various transport options
• 2.2 Outline the limitations associated with each mode of transport
• 3.1 Quantify the risks covered under each insurance option
• 3.2 Acknowledge the importance of adequate risk assessment
• 3.3 Outline the insurance claims process