Abstract:

Given the importance of international trade to our economy and the reality that our students will enter a global workplace, this international trade simulation project provides students with a hands-on experience using practical tools to conduct international trade business. Student groups use role-playing to represent actual groups involved in international trade transactions: importer, exporter, importer’s bank, exporter’s bank, a shipping company, the government, and service agencies. Groups receive pre-designed information packages containing public information and group-specific information including trade documents. Groups then interact to simulate the trade procedure for a specific commodity, starting from negotiation to the collection of payment, which closes the international trade loop. Results include positive feedback from students indicating that the project provided a “real-life international business” experience and was “a great way to learn about international business documents first hand.” Additional results include the ability for other faculty to use this international trade simulation model in their agricultural marketing, trade and business courses.