The goal of this program is to prepare students to work in an international commerce environment of a manufacturing or services company. More specifically, they will be educated in the theoretical principles and day-to-day practices of international commerce, the implications of globalization for a firm's domestic operations, the U.S. position in the global economy, international trade theory and practice, international market entry planning, international product development, international business management practices, global business strategies, intercultural business transaction management, and career tracks and opportunities in the industry.
International commerce is a significant and growing 'sector' of Minnesota's economy, with exports of goods, services and raw materials to other countries contributing about $16 billion to the Gross State Product (GSP) and imports contributing about $21 billion in 2007. The average annual growth rate of international imports and exports in Minnesota has been between 5 and 10 percent for the last decade--about double the GSP rate--and each $1 billion in international commerce means more than 15,000 jobs. The forecasts for the next decade indicate a continuation of past trends, with international business-related job growth at 7-8 percent per year.
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