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ENT322Management Sciences2 Unitsintermediate

Principles And Practice Of International Trade

This course introduces students to the principles and practices of international trade. It explores the nature and scope of international trade, its historical development, and basic concepts. The course examines the World Trade Organization (WTO), General Agreement on Tariffs and Trade (GATT), and key components of international trade. It also covers trade restrictions, protectionism, liberalization, and the dynamics of global trade regimes, providing a comprehensive understanding of international trade policies and their impact.

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208h

Study Time

13

Weeks

16h

Per Week

basic

Math Level

Course Keywords

International TradeWTOGATTTrade PolicyGlobalization

Course Overview

Everything you need to know about this course

Course Difficulty

Intermediate Level

Builds on foundational knowledge

65%

intermediate

➕

Math Level

Basic Math

📖

Learning Type

Theoretical Focus

Course Topics

Key areas covered in this course

1

International Trade Theories

2

World Trade Organization (WTO)

3

General Agreement on Tariffs and Trade (GATT)

4

Trade Restrictions and Liberalization

5

Global Trade Regimes

6

International Finance

Total Topics6 topics

Ready to Start

No specific requirements needed

This course is designed to be accessible to all students. You can start immediately without any prior knowledge or specific preparation.

Assessment Methods

How your progress will be evaluated (3 methods)

assignments

Comprehensive evaluation of course material understanding

Written Assessment

tutor-marked assessments

Comprehensive evaluation of course material understanding

Written Assessment

final examination

Comprehensive evaluation of course material understanding

Written Assessment

Career Opportunities

Explore the career paths this course opens up for you

Trade Analyst

Apply your skills in this growing field

International Business Consultant

Apply your skills in this growing field

Export Manager

Apply your skills in this growing field

Import Specialist

Apply your skills in this growing field

Trade Negotiator

Apply your skills in this growing field

Industry Applications

Real-world sectors where you can apply your knowledge

International TradeFinanceLogisticsGovernmentConsulting

Study Schedule Beta

A structured 13-week journey through the course content

Week

1

MODULE 1

3h

Unit 1: Introduction to International Trade

3 study hours

•Define international trade and its key concepts.
•Examine the nature and scope of international trade.
•Trace the historical development of international trade.

Week

2

MODULE 1

3h

Unit 2: Dynamics of World Trade

3 study hours

•Discuss the dynamics of world trade and the role of the WTO.
•Examine the establishment of GATT.
•Explain the mechanism of the WTO.

Week

3

MODULE 1

3h

Unit 3: Basic Components of International Trade

3 study hours

•Identify the basic components of international trade.
•Discuss terms of trade and their features.
•Define balance of trade.

Week

4

MODULE 1

3h

Unit 4: Theories of International Trade

3 study hours

•Examine the theories of international trade.
•Discuss the theory of comparative cost advantage.
•Explain the theory of factor proportions.

Week

5

MODULE 2

3h

Unit 1: Background To Professionalism And Liberalization

3 study hours

•Define protectionism and liberalization.
•Discuss the major developments of liberalization in the 19th century.
•Examine protectionism and liberalization in Europe.

Week

6

MODULE 2

3h

Unit 2: Global Trade Regime

3 study hours

•Explain why GATT-WTO is described as an instrument of suppression.
•List the issues that are offensive to the Third World in GATT negotiations.
•List the major areas of disagreement between the developed and underdeveloped countries.

Week

7

MODULE 2

3h

Unit 3: Free Trade Rhetoric and Protectionism Reality in WTO

3 study hours

•Explain the differences between free trade rhetoric's and Northern protectionism in the WTO.
•Enumerate the objectives of the advanced countries' anti-free trade policies.
•Describe evidence of Northern protectionism.

Week

8

MODULE 2

3h

Unit 4: Trade Liberalism and Restrictions on Migration of Third World Labour

3 study hours

•Describe the potential benefits of international migration of labour to the Third World and the global economy.
•Explain the advanced countries' position in imposing severs restrictions on labour migration.
•Explain why the trickle-down argument is no longer tenable.

Week

9

MODULE 3

3h

Unit 1: Third World Agenda for Change in Global Trade Regime.

3 study hours

•Enumerate several needed reforms in the GATT-WTO system.
•Identify several items in the Third World's strategic agenda for change.
•Describe the kind of preparatory work needed for Third World strategic engagement with the GATT-WTO.

Week

10

MODULE 3

3h

Unit 2: Nature of International Financing and its Vehicles.

3 study hours

•Discuss some of the external sector activities and international financing.
•Examine the intricacies surrounding foreign exchange market.
•Explain the concept of hybrid exchange rate regimes.

Week

11

MODULE 3

3h

Unit 3: International Financial Institution

3 study hours

•Examine International Financial Institution by meaning and definition.
•Discuss International Monetary Fund (IMF).
•Explain the formation of IMF.

Week

12

MODULE 3

3h

Unit 4: Regulation of International Trade

3 study hours

•Explain legal nature and structure of WTO
•Discuss the dispute settlement mechanism used by WTO.
•Explain Bilateral trades and multilateral investment, Treaties, their nature, function and legal structure.

Week

13

MODULE 4

3h

Unit Four: Counter Trade

3 study hours

•Define and explain counter trade
•Examine the various types of counter trade and classification of form.
•Highlight the advantages and drawbacks of counter trade.

This study schedule is in beta and may not be accurate. Please use it as a guide and consult the course outline for the most accurate information.

Course PDF Material

Read the complete course material as provided by NOUN.

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Study Tips & Exam Preparation

Expert tips to help you succeed in this course

1

Review key definitions and concepts from Units 1-4 in Module 1 to build a strong foundation.

2

Create comparative tables outlining the advantages and disadvantages of different trade theories (Unit 4, Module 1).

3

Focus on understanding the structure, functions, and agreements of the WTO (Units 1-2, Module 2).

4

Analyze case studies related to trade restrictions and liberalization (Unit 1, Module 2) to apply theoretical knowledge.

5

Practice explaining the arguments for and against protectionism (Unit 1, Module 2) and international labor migration (Unit 4, Module 2).

6

Outline the key reforms needed in the GATT-WTO system from the perspective of Third World countries (Unit 1, Module 3).

7

Understand the nature of international financing and the role of international financial institutions (Units 2-3, Module 3).

8

Review the different types of foreign exchange exposure and risk management strategies (Unit 1, Module 4).

9

Create mind maps linking the different strategies firms use in international trade (Unit 2, Module 4).

10

Focus on understanding the principles of economic cooperation and the role of organizations like ECOWAS (Unit 3, Module 4).

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