BACKGROUND AND JUSTIFICATION OF THE PROGRAM
International trade is growing faster than the world output, indicating that a growing proportion of the national output is traded internationally or that the international market is more dynamic than the national markets. Thanks to the ongoing globalization, barriers to cross-border businesses have been disappearing or diminishing substantially and a borderless business world is emerging. Globalization makes the business environment increasingly global even for domestic firms. It is the internationalization and globalization that is creating many business opportunities for developed and even developing countries.
The major competition which many Ethiopian firms encounter in the home market now, for instance, is from foreign firms – they now face a substantially growing competition from goods that are imported. Whether liked or not, globalization has become inevitable fact today regardless of a country’s level of economic development.
International trade is the exchange of goods and services across international boundaries or territories. In most countries, it represents a significant share of GDP. While international trade has been present throughout much of history its economic, social, and political importance has been on the rise in recent centuries. Industrialization, advanced transportation, globalization, multinational corporations, and outsourcing are all having a major impact. Increasing international trade is basic to globalization.
International trade not only results in increased efficiency but also allows countries to participate in a global economy, encouraging the opportunity of foreign direct investment (FDI), which is the amount of money that individuals invest into foreign companies and other assets. In theory, economies can therefore grow more efficiently and can more easily become competitive economic participants. For the receiving government, FDI is a means by which foreign currency and expertise can enter the country. These raise employment levels and, theoretically, lead to a growth in the gross domestic product. For the investor, FDI offers company expansion and growth, which means higher revenues.
The importance of Trade and Investment in development is well established. In today’s world, trade is a prime mover of the global economy in which investment is the main tool.
Under the stress of business globalization, the demand for international trading personnel is increasing tremendously. Therefore, the department now offers an International Trade and Investment Program aimed at training students to become international business professionals. In addition to theoretical and practical International Business and Investment knowledge, students in this program will also be given up-to-date on-hand computer training and foreign language courses to meet the urgent needs of domestic business.
The department’s general objective is to prepare our students to enter International Trade and Investment Management profession in the public, industry, and not-for-profit sectors through excellent teaching and pedagogy and through the creation of a sound learning environment. In support of this objective, our department will produce intellectuals that contribute to the improvement of Ethiopian Foreign trade and Investment. We will also keep on forming professional relationship with different companies and Industries through professional practice of students and Inviting guest lecturers from companies and industries.
The specific objectives of this program are:
- Educating students with fundamental concepts and practices in business, management, finance, and marketing and investment from the international aspect.
- Enhancing students with language competency and computer techniques, training students to be the future elites in the international markets.
- To develop professional specialists of international trade with high-tech knowledge, capable of functioning effectively in the dynamic and complex environment of the global marketplace.
- Consolidating academic concepts and on-hand practice through research studying and excurriculum aid system.
- Assisting students in personality development and building productive attitudes in every aspect of their life.
- Foster creativity and entrepreneurial quality of students.
- To cultivate in students’ good business ethics and a professional approach to work.
RATIONALES OF THE PROGRAM
- All 21st Century Business is International: Even if one is not selling products internationally, the prices he/she receive in local markets are affected by international wages that workers can command in local markets are affected by international wages and by international product prices. So, all high-quality education in 21st century is by its very nature international.
- Need Assessment Result: The need assessment results have clearly uncovered the predominance of high demand for professionals in the area having practical orientations?
- Ethiopia’s application for WTO Accession: One of the requirements for accession to WTO is associated with availability of trained manpower that can understand and operate at international scope in response to the demands of Foreign Direct Investors, and Multilateral Trading System participants.
- Diversified Knowledge and Creation Additional Opportunity for Education: The more diversified programs are available; the more opportunities are created for to choose and to learn and enhance their knowledge about the world.
- Filling the Gap: The existing gap between demands for qualified professionals and the supply side, which have almost been covered by nearest professions.
The International Trade and Investment Management program should enable the graduates
to acquire both theoretical knowledge and practical know-how relevant to International
Trade and Investment Management profession which makes graduates competent nationally
As a graduate of this program, students will be prepared for a career as an analyst, manager,
or specialist in business organizations. Specifically, the program is designed for those who
plan a professional or managerial career in the field of International Trade and Investment
Management such as:
- Import-export handling
- Investment consultancy
- Freight forwarding
- Cargo handling
- Foreign trade and Investment accounting
- International sales and Procurement
- International operations management
- International logistics
- International law and regulation
- International financial services
- Market access and Trade promotion etc.
GRADUATE’S PROFILE (COMPETENCIES)
The graduates are expected to exhibit proficiency and competence in the following activities:
International trade practitioner or transnational manager in the public or private sector; or as
a manager, project officer or investment officer at international scope or private investor,
agent or legal advisor, consultant, etc.
- Transit goods, calculation of custom values, goods classifications according to Harmonized System for Customs and Tariff.
- International commercial terms, international trade-related laws, supply management.
- Transport economics, International Trade Theory, import-export documentation and
procedures, international banking.
- International financial management.
- Issuance of foreign trade license for import, export, commission agents.
- Formulation of trade policy.
- Negotiation in bilateral, regional, multi-lateral trade.
- Preparation and provision of various incentive schemes.
- Export development and diversification.
- Study supply-side constraints and devise strategies.
- Handle import-export inquiries, process, and disseminate to members of ECC through
various communication channels.
- Provide information on international price of exportable products.
- Consult new business on how to enter foreign trade and run successfully.
- Approving foreign exchange for government imports of goods and services.
- Opening of Letter of Credit and etc…
- Private Organizations: Students intended to go for careers would have competitive
advantages after this program to work in trading, transportation, multinational or foreign
companies, financial institutions, insurance agencies, and travel agencies.
- Public Organizations: After this intensive program, students who do not desire to further study or work for private companies would have choice to apply for public positions
particularly policy making.
- Self-Employment: Graduates can also go for their own businesses in areas of Investment
consultancy, Freight forwarding, Cargo handling, foreign trade and investment accounting,
International sales and procurement, International operations management, International
logistics, International law and regulation, International financial services, market access
and trade promotion etc.
Students interested to join the program in International Trade and Investment Management
should fulfill the following requirements:
◘ Successful completion of freshman program in social science.
◘ Additional requirements that may be set by the University, College or Department for the
specific academic year
DURATION OF THE STUDY
To successfully accomplish the program, students are required to attend a duration of four (4)
years where each year is divided in two semesters for regular program.
MEDIUM OF INSTRUCTION
The medium of instruction at Arsi University is English
Successful graduates will be awarded:
In English: “Bachelor of Arts Degree in International Trade and Investment Management”
In Amharic: “የአርት ባችለር ዲግሪ በየአለም አቀፍ ንግድ እና ኢንቨስትመንት አስተዳደር”