International Business Courses overview
International business is about facilitating mutually beneficial transactions between international organisations. In addition to requiring a high level of business acumen, it demands tact and cultural knowledge of its practitioners. Postgraduate study is concerned with uncertainty management, accounting and financial management, globalisation and more to build essential skills for international business.
Canadian economist Stephen Hymer was one of the first to thoroughly explore the activities of multinational corporations and international business as a whole. His PhD thesis on the subject, written in 1960, now informs common understanding of foreign investment and global commerce, with Hymer’s contributions being considered the foundation of modern international business.
The advent of the internet and similar telecommunications breakthroughs has made globalisation and consequently international business of even higher importance. Modern professionals work to secure a bright commercial future in an interconnected world.
Is international business for me?
International business is excellent for those with a fascination and deep respect for cultures different to their own. It requires a high level of inter-cultural understanding combined with sound quantitative skills in statistics, economics and finance. If you’re a charismatic person possessing these skills or the capacity to learn them, then international business could be an excellent choice for you.
Study pathway
Postgraduate international business can be taken up to master level. Graduate certificates and diplomas allows students to study for shorter periods.
Graduate certificates, like those from Charles Darwin University, take six months of full time study to complete or up to one year part time. They tend to cover fundamental units in international marketing, international human resource management, cross cultural management, international trade and investment. This makes them an ideal primer for further study or to serve as a standalone introduction to the field. Prerequisites for entry are quite flexible, with graduates from bachelor degrees in a business discipline being acceptable. Students from other disciplines can require two years or more of relevant work experience, but this isn’t always the case.
Graduate diplomas offer a slightly more extensive program, taking one year of full time study to complete or up to two years part time. Institutions like Swinburne University of Technology offer units in international business operations, managing the global marketplace, international economics and more in addition to the fundamentals students would expect from a graduate certificate. Entry is granted in a similar manner, with graduates of business related bachelor programs having the easiest time and those from unrelated programs requiring work experience.
The Master of International Business provides comprehensive knowledge of the craft. The University of the Sunshine Coast offers these to students from any discipline so long as they hold a bachelor degree, with business backgrounds being awarded extra credit. The program takes two years of full time study to complete, or up to four years part time. Students can expect units in management across global cultures, supply chain management, international business law and ethics, international trade and finance, strategic management and a great deal more. There’s often a research component to these programs too, the topic of which is approved by a supervisor.
Employment options
The following are just a few examples of employment opportunities for postgraduate international business students, but there are many more.
Business analyst
These professionals assist private and public institutions in managing their resources efficiently. They work in a variety of sectors, from banking and finance to software development and IT. International business graduates are ideally suited, with companies like BAPL specialising in exactly this line of work, making them sound potential employers.
Investment banker
These professionals use their financial acumen to maximise returns on investments. International business graduates can suit this field very well due to exceptional knowledge of global financial markets and the ways in which they’re influenced by world events. Graduates can aspire to join the oldest and most well-respected companies in the field, like Goldman Sachs, JPMorgan Chase & Co and Barclays.
International trader
International traders advise companies on the logistics of international trade. Companies like ITMhave been doing this for years, utilising employees well-versed in international markets and supply chain to meet client needs.