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Grado en Administración y Dirección de Empresas

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Comercio Exterior

Código asignatura
GADEMP01-4-013
Curso
Cuarto
Temporalidad
Primer Semestre
Materia
Relaciones Económicas Internacionales de la Empresa
Carácter
Optativa
Créditos
6
Pertenece al itinerario Bilingüe
Yes
Actividades
  • Prácticas de Aula/Semina (28 Hours)
  • Clases Expositivas (28 Hours)
Guía docente

Foreign Trade is an elective course taught in the first semester of the fourth year of the Degrees in Economics and in Business Administration (ADE in Spanish). For the Degree in Economics, the subject belongs to the Economía Española, Internacional y Sectorial Module, into the Relaciones Económicas Internacionales bloc. For the Degree in ADE, the subject belongs to the Entorno Económico Module, into the Relaciones Económicas Internacionales de la Empresa bloc.


This course is divided into three parts, going from a general to a more specific view:


- The first part establishes the general framework for the political economy of trade policy and trade policy instruments. It also highlights the importance of trade negotiation processes, identifying the actors involved (pressure groups, governments, countries) and analysing how these processes develop.


- The second part describes the institutional framework in which trading operations, both globally and in the European Union, are developed. In this case, the basic concepts are related to the WTO, the Trade Negotiation Rounds, the European Trade Policy, emerging realities (both in our proximities and in the Asia-Pacific and American area) and the main indicators of Spanish foreign trade.


- The third and final part introduces the various forms that internationally oriented companies can use to access foreign markets, with particular emphasis on the exporting option, which will be studied through various support tools, terminology, issues and specific techniques, and the main actors involved in any transaction of foreign trade. Some basic concepts will be: the ICEX, international recruitment, logistics, and financing foreign trade operations, among others.

For proper performance in the course, knowledge of World Economy and Microeconomics is required.
Additionally, it is recommended to observe the course International Economic Relations, for students of the Degree in Business Administration; and the course International Economy, in the case of the Degree in Economics. The combination of these courses allows the student to develop a strong curriculum oriented toward foreign trade and international economic relations, although none is necessary to follow the basics of the subject.

 

Given that the teaching of Foreign Trade is taught jointly in the Degrees in Economics and Business Administration and Administration, it proceeds, in accordance with the instructions received and in accordance with the provisions of the corresponding verification report, to break down the competencies and learning outcomes, indicating them separately. This does not prevent professors from delivering the classes by combining the specifications indicated in the aforementioned reports so that students acquire the skills marked and achieve the learning results foreseen in the norms, developing the tutorial work necessary for such adaptation.

DEGREE IN BM

General competences

CG1 - Capacity for analysis and synthesis.

CG2 - Learning capacity.

CG3 - Ability to communicate fluently orally and in writing in one's own language.

CG5 - Ability to search and analyse sources of information in the workplace.

CG6 - Capacity to use computer tools and communication technologies.

CG7 - Ability to work autonomously.

CG8 - Ability to work in a team.

CG9 - Ability to work in an international context.

CG10 - Critical and self-critical capacity.

CG12 - Ability to apply knowledge in practice.

CG18 - Ability to adapt to new situations.

CG19 - Concern for quality and a job well done.

CG20 - Have ethical values and behaviours.

CG21 - Integrate democratic values and a culture of peace in the workplace.

CG22 - Integrate the principles of equal treatment and opportunities between women and men in the workplace.

Specific competences

CE3 - Understand the basic mechanisms of operation and structure of markets.

CE4 - Understand the macroeconomic context in which business activity takes place.

CE5 - Understand the economic-institutional environment and its impact on business decisions.

CE6 - Identify and apply the appropriate quantitative tools for the analysis of economic information.

CE20 - Express information, ideas, problems and solutions in the field of business management to both specialized and non-specialized audiences.

CE21 - Issue advisory reports on specific situations of companies and markets.

Learning outcomes.

RA6.3: Learn to use the most appropriate economic analysis instruments to assess the impact that the economic environment has on business decisions.

RA6.6: Strengthen their capacity to use information technologies as a form of communication in an international work environment.

RA6.7: Discuss and argue in a multicultural working group on the main problems that the economic environment poses to business management, being able to assess the technical quality of the different arguments used.

RA6.8: Improve their capacity to transmit, inform and advise on issues of the economic environment, synthesizing and sharing with their colleagues, and with general audiences, the results of the work for which they are, individually and in groups, responsible.

RA6.9: Assume the need to increase their autonomy to face the analysis of problems of the economic environment of companies, becoming aware of their individual and collective responsibility in relation to the quality of their work.

DEGREE IN ECONOMICS

Basic and general competences

CG1 - Capacity for analysis and synthesis.

CG2 - Learning capacity.

CG3 - Ability to communicate fluently orally and in writing in one's own language.

CG4 - Knowledge and understanding of other languages, mainly English.

CG5 - Ability to search and analyse sources of information in the workplace.

CG6 - Capacity to use computer tools and communication technologies.

CG7 - Ability to work autonomously.

CG8 - Ability to work in a team.

CG9 - Ability to work in an international context.

CG10 - Critical and self-critical capacity.

CG12 - Ability to apply knowledge in practice.

CG18 - Ability to adapt to new situations.

CG19 - Concern for quality and a job well done.

CG20 - Have ethical values and behaviours.

CG21 - Integrate democratic values and a culture of peace in the workplace.

CG22 - Integrate the principles of equal treatment and opportunities between women and men in the workplace.

CG23 - Integrate the principles of equal opportunities and universal accessibility for people with disabilities in the field of

work.

Specific competences

CE3 - Identify and apply the appropriate quantitative tools for the analysis of economic information.

CE6 - Understand the institutional environment and its impact on economic activity.

CE7 - Understand the behaviour of economic agents and assess their influence on the structure and functioning of markets.

CE8 - Understand how an economy works at an aggregate level and assess the impact of changes in the behaviour of agents or in the institutional framework.

CE9 - Understand and value the role of the public sector in the economy.

CE10 - Understand and value the international dimension of the economy.

CE11 - Understand and value the interrelationships of economic agents.

CE12 - Analyse and evaluate economic policies.

CE15 - Understand the role of financial markets and the principles of asset valuation.

CE17 - Transmit information, ideas, problems and solutions in the economic field to both specialized and non-specialized audiences.

CE18 - Issue advisory reports on specific situations of the economy (international, national or regional) or sectors thereof.

Learning outcomes

RA2.1: Understand the main issues of the national, international and sectoral economy, individually and through discussion in plural work teams.

RA2.2: Apply the basic concepts and methods of Economics to understand and analyze the key variables and their interrelationships, as well as the main problems of the national, international and sectoral economy.

RA2.3: Learn to use the most appropriate economic analysis instruments to interpret the relationships of interdependence existing in the economic areas under study.

RA2.4: Improve their ability to obtain and interpret for themselves the information and materials necessary to understand the national, international and sectoral economy, recognizing their different levels of quality.

RA2.5: Strengthen their capacity to handle computer tools that allow them to approach, individually and in groups, the reality of the national, international and sectoral economy.

RA2.6: Strengthen their capacity to use information technologies as a form of communication in an international work environment.

RA2.7: Discuss and argue in a multicultural working group on the main problems of the national, international and sectoral economy, being able to assess the technical quality of the different arguments used.

RA2.8: Improve their capacity to transmit, inform and advise on issues of the national, international and sectoral economy, synthesizing and sharing with their colleagues, and the general public, the results of the work for which they are responsible, individually and in groups.

RA2.9: Assume the need to increase their autonomy to face the analysis of problems of the national, international and sectoral economy, becoming aware of their individual and collective responsibility in relation to the quality of their work.

Finally, it should be noted transversal competencies are not referenced in the verification reports consulted.

INTRODUCTION: International negociation: participants and experiences

PART I: INSTITUTIONAL FRAME

TOPIC 1: Multilateral trade system: WTO
1.1. World Trade Organization and the freedom of trade
1.2. Exceptions to general rules
1.3. Doha Round and the new negotiation phases 

TOPIC 2: UE Common Trade Policy
2.1. Principles of the Common Trade Policy
2.2. Autonomous trade policy
2.3. Bilateral and multilateral trade policy

TOPIC 3: Spanish external sector
3.1. Balance of Payments and external equilibrium
3.2. Spanish external trade evolution: geography, specialization and competitivity
3.3. Spanish firms and external trade
3.4. Other ways for internationalization: incoming and outgoing foreign direct investment


PART II: EXTERNAL TRADE MANAGEMENT

TOPIC 4: Introduction to international negotiation and contracts
4.1. International negotiation
4.2. Main types of international contracts
4.3. INCOTERMS

TOPIC 5: International transport
5.1. International transport organization  
5.2. Means of transport
5.3. Transport documents

TOPIC 6: International means of payment and risks associated to external trade
6.1. Simple means of payment
6.2. Documentary means of payment
6.3. Types of risks and their coverage
6.4. Exchange risk

TOPIC 7: Customs and external trade
7.1. Customs and external trade: import and export transactions
7.2. External trade documentation
7.3. Customs value and customs debt


TOPIC 8: Promotion of  external trade
8.1.OECD agreement
8.2. ICEX
8.3. Tools and associations

The teaching-learning methodology used in the course Foreign Trade is based on the combination of virtual and face-to-face activities, in any case encouraging active student participation, by introducing elements of dialogue and discussion over the classes, with the intention to assess their understanding of the issues explained.
In this discipline, the theory and practice form a seamless whole, so it is not permissible to approach a learning method without considering the practice as an integral part of it, in an attempt to put students in touch with reality and with the confrontation of theoretical knowledge. For this reason, we use classroom practices that involve the resolution of cases in which students take an active role, using previously acquired knowledge and identifying gaps and doubts that may arise in its implementation.
Students have several basic and support materials to complement both theoretical and practical aspects of the subject. National and international organizations' websites are used where relevant and updated information can be obtained. In addition to the above material, there is a student Virtual Campus with useful material.

The proposed methodology of the subject is implemented through the following tasks:
 
• Classroom activities
- Lectures. We will use the model of "lecture", offering the lecturer the opportunity to highlight the most important part of each topic while controlling the time schedule and presenting a particular way of working and studying the subject.
- Classroom practices. We will use the "participatory model" as it is intended to incentivize communication among students and between students and teacher.
- Assessment sessions. Written theoretical and practical quizzes to assess students progress.
 
• Autonomous activities
Independent work of the student

- Studying the content of the lectures.

- Studying and doing the assignments presented in the practical sessions.

- Solving activities, case studies and exercises suggested via the Virtual Campus.
 
The following is an estimate of the number of hours for each activity:
1. Classroom
    1. Lectures                          28
    2. Classroom Practices        28
    3. Evaluation sessions           4
2. Independent work                 90

The breakdown of the hours by topics and/or type of activities is shown in the table below.

FACE-TO-FACE WORK

AUTONOMOUS WORK

Topics

Total hours

Theoretical sessions

Practical sessions (classroom)

Practical sessions (computer lab)

Group tutorials

Evaluation sessions

Total

Group tasks

Individual tasks

Total

Introduction

12

2

2

4

8

8

1

17

3,5

3,5

7

10

10

2

17

3,5

3,5

7

10

10

3

17

3,5

3,5

7

10

10

4

17

3,5

3,5

7

10

10

5

17

3,5

3,5

7

10

10

6

17

3,5

3,5

7

10

10

7

17

3,5

3,5

7

10

10

8

9

1,5

1,5

3

6

6

Other activities

10

4

4

6

6

Total hours

150

28

28

4

60

6

84

90

(%)

100

18,7

18,7

2,6

40

4

56

60

The assessment of learning outcomes is based on a continuous assessment and a final examination.
 
Continuous assessment
This type of evaluation gathers information about each student. In the lectures, practices or through the virtual campus, the teacher will propose a set of activities to be undertaken by students. These activities (finding relevant information, writing comments, resolution of cases, exercises, discussions, etc..) will be voluntary. However, its implementation in a timely manner will be very useful in solving the continuous assessment quizzes that the teacher will make without prior notice throughout the course.

Final exam
It is the overall assessment conducted at the end of the learning process, which quantifies and evaluates the process through a mark. Its basic purpose will be to measure the level of knowledge on the subject that students have at the end of the course. This final exam will cover both theoretical and practical issues.
 
Grading System
The grade for the continuous assessment in this course will count 40% of the total grade. The continuous assessment grade will be the result from pop-quizzes that the teacher will ask for without prior notice throughout the course. Both these quizzes and the final exam, which will mean the remaining 60% of the total grade, are aimed at discriminating individual compliance objectives.

Regardless of the continuous assessment score, to pass the subject the mark of the final exam must be at least 2 points (out of 6). In the event that the score of the exam does not reach the minimum established, the total grade will be the sum of the scores in the continuous assessment and the final exam, ALWAYS LIMITED to a maximum of 4.5 points.


The continuous assessment mark is valid for ordinary and extraordinary calls throughout the academic year in which students are enrolled.

Differentiated Assessment

In the case of students who have obtained authorization from the Centre for this type of evaluation, the final test (to be held at the time of the final exam) will consist of the final exam itself, which amounts up to 60% of the final mark, and a written additional test, with a maximum weight of 40% of the final mark.

Please, remember that the Code of Ethics of the University of Oviedo is in force and applicable, and that it can be accessed from the following:

link:https://www.uniovi.es/en/conocenos/uniovi/nosotros/etica

All materials to be distributed in class (lectures, outlines, case-studies, exercises) will be available to the alumni in the Virtual Campus.
 
Bibliography
PARTS I and II
. Bengoechea, A. et al. (2002): Economía internacional. Cuestiones y ejercicios resueltos, Prentice Hall, Madrid (Spanish).
. Feenstra, R. C. and Alan M. Taylor (2010, 2nd ed.): International trade, Worth Publishers, New York.
. Krugman, P. R., M. Obstfeld and M. J. Melitz (2012, 9th ed.): International economics. Theory and Policy, Prentice Hall, New Jersey.
PART III
. Billon, M. and M. P. Sanchez (1999): Ejercicios prácticos de comercio exterior, Akal Ediciones, Madrid (Spanish).
. ICEX (2005): Operativa y práctica de comercio exterior. Curso básico, Madrid (Spanish).
• ICEX (2005): Estrategia y gestión del comercio exterior. Curso superior, Madrid (Spanish).
 
Further reading
PARTS I and II
. Appleyard, D. R. and A. J. Field (2013, 8th Ed): International Economics, McGraw-Hill/Irwin, New York.
. Baldwin, R. and C. Wyplosz (2012, 4th Ed.): The economics of european integration, McGraw-Hill, Berkshire.
. Lindert, P. H. (1994): Economía internacional, Ariel, Barcelona (Spanish).
. Pugel, T.A. (2011, 15th Ed): International Economics, McGraw-Hill, New York.
. Tugores, J. (2006): Economía internacional. Globalización e integración regional, McGraw-Hill, Madrid (Spanish).
PART III
. Daniels, J.D. et al. ( (2010 13th Ed): International Business. Environments and Operations, Prentice Hall, New Jersey.
 
Websites
• World Trade Organization (World Trade Organization): www.wto.org
• The European Union: http://europa.eu.int/index_es.htm
• ICEX: www.icex.es
• Chambers of Commerce: www.camaras.com
. COFIDIS: www.cofidis.es