The Young International Trader programme (YIT) provides the opportunity for students in the 14-18 age group to learn more about the world of international business, whilst continuing with their mainstream education. YIT is designed to provide vocational training for students who may ultimately be interested in a career in international business, or for those who may just want to learn more about how the exciting world of import and export impacts directly upon their everyday lives.
The programme is designed to be delivered over a minimum of one term, based on one lesson per week of approximately one hour. With a flexible, modular approach, students combine classroom study with research projects, supplemented by talks from guest speakers, aimed at providing a thoroughly up-to-date and practical view of international business.
YIT’s flexibility means that it can either be run as a stand alone programme or it can be integrated into existing mainstream subjects such as geography, languages, economics, business and general studies.
The course comprises seven compulsory and two optional modules, each on a different aspect of international trade.
This module defines and introduces the course, and demonstrates the impact of importing on our everyday lives. Students look at just how many things around us are made outside of the UK and use an outline map to identify, locate and record countries of origin. The student is introduced to a number of websites where statistical information on imports can be found, and emphasis is given to investigating facts and figures for local industries/businesses where appropriate.
A look at the reasons for exporting and the benefits it can bring both to individual companies and to the economy as a whole. Students are encouraged to use government and other websites to obtain statistical information, and to build a picture of product/geographical export patterns. Wherever possible, during the first two modules, a guest speaker involved in International Trade will talk to the students about the importance of importing/exporting to their particular business.
This module has been designed to help students understand about currency exchange and its important role in settling trade debts. Key foreign currencies and their exchange rates are examined, as are factors affecting such rates. The module discusses the impact on traders exposed to fluctuating rates, and looks at how to minimise the associated risks. The role of barter is discussed and its relevance to modern day trade. Successful completion of this module requires the use of basic mathematical skills.
The student is introduced to the concept of both real and “virtual” market places for the trading of goods. Different types of market are examined and the students produce a report on a market of their choice. Emphasis is placed on the importance of researching your market place thoroughly before importing or exporting goods.
This module looks at the process for getting products from the producer to the consumer. Ideally, it will include a visit to a port or goods depot. Road, rail, air and sea transport are all examined in detail, and strengths and weaknesses of the various methods are discussed. Students are encouraged to research transport methods used either by an appropriate local business or by a major logistics company.
A more general module examines the type of business organisations that exist to produce, manufacture and sell goods and services and looks at the strengths and weaknesses of the different alternatives. It relates closely to areas covered in some business studies or economics classes.
This module introduces the idea of brand image to students, coupled with ideas of value for money and pricing. It can be linked to other questions about moral issues and choice, such as the use of “cheap” labour for overseas manufacturing. The student then looks at some of the problems associated with financing imports or exports, particularly where a long lead time is involved with buying/selling a product. Wherever possible, a guest speaker from the International Trade team of a major bank will talk on this module.
This (optional) module provides an opportunity for students to pull together ideas learnt in earlier parts of the course. Students are required to research a local industry or business, where importing or exporting forms a significant part of that business. Choice of the business/industry is left to the student, with guidance from the teacher/mentor where appropriate. Students are expected to look and comment on a company’s location, size, financial strength, products, market place, and undertake a review of the importance of importing or exporting to the company’s success. Any potential for importing/exporting, changes to market place etc. can be assessed and commented upon. Successful completion of this module is very much dependent upon the student’s individual interest in the chosen subject, together with their willingness to undertake an independent piece of research. A well researched and well presented report will earn the student a distinction in the YIT Certificate.
This (optional) module can be taken as an alternative to option 8, where local business or industry is not considered suitable for further research. It gives the student ample alternative opportunities to produce a well researched and reported project. Students are required to research two countries of their choice. Generally, we would expect one country to have a developed economy, with the other being a developing country, although students with a particular interest in certain countries can vary this requirement, subject to teacher approval. Students are required to produce “Country Profiles” containing economic and market information. Additionally, they are expected to identify local cultural, social and even political issues, particularly those that might affect companies trading with these countries. Students are encouraged to analyse countries primarily from the point of view of assessing their strengths and weaknesses as trading partners, and are introduced to the concept of SWOT analysis. As with module 8, a well researched and well presented report will lead to the award of a distinction in the YIT Certificate.
If you are interested in learning more about the Young International Trader programme, or have links with any schools that you think may be interested please contact email@example.com or call +44(0) 1733 404400