How Much Does a Degree in International Trade Cost?
International Trade School Tuition Prices
International trade is a branch of economics that refers to the exchange of services, goods, and capital across international borders. It is fundamentally necessary in today's world to a country's economic, social, and political importance in a growing global market. It gives countries access to other goods and services other than those that it provides within its own borders. Whether dealing with imports or exports, international trade incorporates several fields, including agriculture, manufacturing, sales, distribution, transportation, finance, insurance, accounting and law.
What is International Trade?
The key to a successful career is in identifying what you excel in, and what where your passion lies. Do you have a keen sense for organization? Do you possess strong skills in sales and marketing? Do you have the ability to perform tasks that meet regulatory compliance? The latter skills paired with an education that includes the study of countries, cultures, global issues, economics, mathematics and business can start you on a lucrative and exciting career in International Trade.
Those who work in International Trade can hold a variety of positions:
- Customs house broker
- Export manager
- Freight broker
- Freight forwarder
- Import agent
- Insurance broker
What are the educational requirements for a career in International Trade and how do I choose the right program?
There are Associate's, Bachelor's and Master's degree programs available. Degrees in Business or Economics are commonly chosen focuses. Many programs require students to study abroad and become proficient in a foreign language, especially Spanish, Japanese or Chinese. The degree you choose should build knowledge of business principles, economics, both domestic and foreign. In addition, it should provide an understanding of the rules and regulations associated with international transactions.
Certification for International Trade Workers
The National Association of Small Business International Trade Educators (NASBITE) offers the option to become a CGBP, or Certified Global Business Professional- www.nasbite.org. This credential specifically demonstrates a professional's knowledge in areas of global marketing, business management, trade finance, and supply chain management. Prior to obtaining this credential one must have two years of work experience in international trade or have completed at least two years of college-level coursework and pass a 150 question exam. Cost of the CGBP program varies according to the school. Example: Bryant University, Rhode Island- cost to take the full program is $995.00 which includes all text books and materials.
The International Import-Export Institute (IIEI) offers certifications in multiple trade specialties:
Regardless of what school or program you choose, it is absolutely imperative to confirm the school's accreditation status. Accreditation ensures a basic level of quality in the education you receive, and that the standards and quality of a school's faculty, recruiting practices, admission procedures, program content meet certain standards.
- Federal Financial Aid - The Council for Higher Education Accreditation (CHEA) states that in the United States, "students who want federal (and sometimes state) grants and loans need to attend a college, university, or program that is accredited."
- Credit Transfer - If you plan on transferring credits to an accredited institution they must originate from an accredited institution.
- Employmen t- Employers often look for proof that their job applicants have received a degree from an academic program with accreditation.
What does it cost to attend college for International Trade?
The following are the reported average costs per year in tuition and fees, but does not include cost of living expenses (room and board; books; travel):
- Public two-year colleges- $2 800
- Public four-year colleges- $8,000-9,000 for in-state students; $12,000 at the same college for out-of-state students.
- Private four-year colleges- $35,000 or more
- Private nonprofit four-year- $28,000
- Online programs- $700 to $900/per 3 credit online course; typically amounts to $7,500 per semester. Certificate programs can cost less because they involve fewer courses.
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