EC1TPNU-International Trade Practice

Module Provider: School of Politics, Economics and International Relations
Number of credits: 10 [5 ECTS credits]
Level:4
Terms in which taught: Spring term module
Pre-requisites:
Non-modular pre-requisites:
Co-requisites:
Modules excluded:
Current from: 2019/0

Module Convenor: Dr Hussein Hassan

Email: hussein.hassan@reading.ac.uk

Type of module:

Summary module description:

This module will introduce fundamental activities involved in international trade practice. It is one of the key compulsory modules for students majoring in Economics and Trade. Trading is one of the most basic activities of mankind. International trade involves both importing and exporting, not one to the exclusion of the other. The participants and procedures of international trade are introduced in detail in this subject.

Aims:

Upon successful completion of the module, students should 1) grasp basic principles of the vocational work of imports and exports, 2) understand conditions of contracts in foreign environment, and 3) negotiate, sign and perform the foreign trade contracts. Moreover, students should be able to understand and apply principles of trade practices. This contains business negotiation, sales confirmation, pricing, delivering, insurance, terms of payments of international trade, and related problems of export and import.

Assessable learning outcomes:

When finishing learning, students are supposed to be able to :

(i) handle main procedures involved in imports & exports Business;

(ii) draft contract clauses of Imports & exports contracts based on relevant laws & practices mainly for international sale of goods; 

(iii) be able to understand Chinese foreign laws and regulations & practices;

(?) master tactics on negotiation with customers both from home and abroad

it is expected that students will be able to:

1. Understand an international sales contract correctly, that’s the meaning of all the terms and conditions covered in the contract.


2. Draft a complete trade contract and define all the essential terms.


3. Analyze some cases concerning trade disputes and state the reasons clearly.


4. Be familiar with the documents involved in trade and understand the actual functions and features of these documents.


5. Finish the price communication with correct understanding of the trade terms as per Incoterms2010.

Additional outcomes:

To improve the ability to do business with foreigners and to improve ability to communicate in business English.

Outline content:

• Part 1 Formation of Contracts: decomposes the negotiation process and illustrates the conclusion of contracts.


• Part 2 Subject Term: discusses how to define the subject goods of contracts.


• Part 3 Price: explains trade terms as per Incoterms 2010, illustrates how to determine the unit price for international sale and figures out potential risks of foreign exchange and possible solutions


• Part 4 Delivery: introduces transport modes and analyses the terms of shipment or delivery in S/C and L/C together with relevant laws and rules.


• Part 5 Deals with cargo insurance in trade with relevant cases, and digging into the real world of effecting insurance and claiming for losses.


• Part 6 Payment: introduces payment instruments and modes, terms of payment in the sales contracts.


• Part 7 Disputes: covers the post-sale issues, including claims and their settlement.

Brief description of teaching and learning methods:

Detailed lectures on the topics covered will be provided. Classes will cover regular exercise material based on lecture topics and will provide time for students to ask questions about the lecture material

Textbooks are distributed to assist students, and lecture slides are available in advance. Students are required to do class discussion in case studies, read a significant amount of related cases, and undertake research using the library, internet, etc.

A few pieces of coursework will be required.

Contact hours:

	Autumn	Spring	Summer
Lectures		40
Practicals classes and workshops		8
Guided independent study:		52
Total hours by term	0	100	0
Total hours for module	100

Summative Assessment Methods:

Method	Percentage
Written exam	60
Written assignment including essay	20
Class test administered by School	20

Summative assessment- Examinations:

One 2-hour unseen written paper

Summative assessment- Coursework and in-class tests:

There will be one Mid-term test (20% of overall mark) and 4-8 coursework in the term in which the module is taught (20% of the overall mark)

Formative assessment methods:

Penalties for late submission:
The Module Convener will apply the following penalties for work submitted late:

where the piece of work is submitted after the original deadline (or any formally agreed extension to the deadline): 10% of the total marks available for that piece of work will be deducted from the mark for each working day[1] (or part thereof) following the deadline up to a total of five working days;

where the piece of work is submitted more than five working days after the original deadline (or any formally agreed extension to the deadline): a mark of zero will be recorded.

The University policy statement on penalties for late submission can be found at: http://www.reading.ac.uk/web/FILES/qualitysupport/penaltiesforlatesubmission.pdf
You are strongly advised to ensure that coursework is submitted by the relevant deadline. You should note that it is advisable to submit work in an unfinished state rather than to fail to submit any work.

Assessment requirements for a pass:

A minimum overall mark of 40%

Reassessment arrangements:

Reassessment is by examination only (coursework will not be included in the re-assessment).

Additional Costs (specified where applicable):

Last updated: 23 April 2019