The internationalisation and globalisation of business today makes it appealing and even necessary to study business operations within an international setting. Globalisation has meant that all business firms are exposed to fluctuations in international markets for final products and inputs. Even purely domestic firms are not immune from the effects of foreign competition and other international factors such as fluctuations in exchange rates.
This degree allows students to gain knowledge of the international economic environment in which businesses operate as well as skills in international finance, management and marketing. Such knowledge and skills are in high demand by any organisation operating, in or affected by, international business conditions.
Globalisation is the central feature of modern economic life and no business today, small or large, can ignore issues posed by international developments. The course aims to provide students with an overall perspective of the international business environment, develop the skills that help them understand how businesses operate in that environment and be able to plan and manage business operations in the globalised economy.
A graduate with a Bachelor of International Business would be qualified for a position in any organisation that operates in international arenas. This could be a multinational company, a government department, a financial institution, or an import/export business. Graduates will be able to evaluate and advise on policy decisions, which are affected by changing international conditions such as exchange rate variations, government trade policy, or decisions by multinationals that have ramifications for both the local and global business climate.
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Course Structure
To qualify for the La Trobe University Bachelor of International Business, you must complete and pass 24 subjects. 7 of these are core subjects that everyone must complete. The core subjects give you basic business skills. You must also complete 8 subjects from the International Business major.
The other 9 subjects can be chosen from the other subjects offered at ACN. These subjects cover topics as diverse as Human Resources, Management and Marketing, Finance and Economics, Law and much more.
Or, you can select eight of your remaining nine subjects all from another major and you will receive a double major – simple, and it won’t take you any extra time!
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Subjects for a major in International Business
The International Business major subjects are:
Finance
This is the foundation unit in finance and covers financial decisions, valuation and the capital market. It also covers an introduction to portfolio theory & the capital asset pricing theorem, interest rates and the mathematics of finance, efficient market hypotheses, financial ratio analysis and option pricing.
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Marketing Principles & Practice
This is an introductory unit to marketing principles and practice as applied to mainly fast moving consumer goods. Students will acquire the skills to formulate a marketing/business plan for a product. Topics cover the marketing concept, the marketing environment, buying behaviour in consumer and organisational markets, customer segmentation, targeting and positioning, developing the marketing mix and the implementation and control of marketing programs.
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International Business Environment
This unit examines the changing patterns of world trade and international business institutions and managerial responses to the dynamic and complex environment. This framework forms the basis for analysis of the factors affecting international business decision-making. The multinational enterprise is a particular focus of study, while significant aspects of the environment are examined and their influence assessed in relation to current and future performance. Emphasis is also on discussion of current developments in the global economy.
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Business Models
Computer based spreadsheet modelling techniques are introduced for the analysis, planning and control of business operations. Techniques include forecasting using time series and causal methods, goal seeking and optimal decision making, capital budgeting and Monte Carlo simulation. The evaluation of firm performance through ratio analysis based on financial statements is covered.
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International Financial Management
Students are introduced to the financial operations of firms operating in an environment of open and integrated financial markets. The effect of open and integrated financial markets on local firms is pervasive. Students will be asked to examine the theoretical and empirical explanations of such effects and to analyse the institutional and practical issues firms must consider in deciding whether to borrow, or invest, funds denominated in the domestic currency or in a foreign currency.
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International Management
This unit examines management in a global context. The focus is on developing understanding of national cultural differences and how these differences influence management practice. Topics include the meanings & dimensions of culture, motivation & leadership across cultures, comparative organisational design, and managing ethical & social responsibility in multinational organisations.
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International Marketing
This unit focuses on the nature of the international marketplace and the problems and decisions facing managers of international marketing. It is comprehensive and practical covering marketing goods and services across national boundaries, as well as within different national markets.
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Financial Risk Management
This unit is designed to be an introduction to the concepts, theories and practical applications associated with the measurement and management of financial risk in general, and interest rate and exchange rate risks in particular. Derivatives offer firms a relatively low cost and highly flexible means of managing their financial risk, hence derivative strategies are a core topic of interest in the study of financial risk management.
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