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The IOTA Master of International Business (MIB) is a postgraduate course designed for those with undergraduate qualifications who are seeking to further their career with a specialisation in international business. It is also for those who do not have a degree, but are already established in business careers and wish to gain formal qualifications.
Current and aspiring managers will develop the professional expertise to allow them to become outstanding leaders of business organisations worldwide. The program teaches the principles of business which makes it suitable for participants holding degrees in areas other than business.
Participants receive a foundation education in business management as well as specialist training in aspects of managing across borders. Subjects offered provide participants with an appreciation of how functional roles are altered by involvement in international activities and provide the skills needed in their execution.
IOTA offers flexibility, convenience and choice and develops business leaders with the skills, initiative and vision to succeed in the world of international business.
The postgraduate Master of International Business program focuses on international business environments and the nature and theoretical foundations of modern trade between nations. The study of international business management theories and their application is enhanced by exposure to the real-world experiences of other students and the IOTA faculty.Graduates of the Master of International Business will be able to:
- Practically apply theoretical concepts and technical or creative skills to problem analysis and decision-making
- Understand the functional interrelationship between different parts of an organisation and the broader interaction of the organisation with its environment
- Understand the factors that affect international trade and the economic interdependency of nations
- Access and critically interpret information and utilise business support systems to monitor issues, problems and opportunities in changing international business environments
- Develop strategic responses to current and future issues facing global and regional business environments
- Understand and communicate effectively in a variety of forms with people internal and external to their organisation and across borders
- Develop an awareness of the principles of international trade ethics
- Demonstrate the capacity to take a strong leadership role in business situations
Career opportunities can be pursued in a wide range of management positions in private enterprise, government departments, international bodies and non-government organisations whose work encompasses international commerce.
Possible employment opportunities for graduates of the MIB could include the following:
- General Management Career
- International Management Consultant
- International Corporate Advisor
- International Operations Manager
- International Business Strategist
- International Mergers and Acquisitions Consultant
- Export and Import Manager
- Global Product Manager
- Country and Regional Manager
- International Hotel Manager
- Cross-Cultural Advisor
The program provides participants with a structured, modular approach to study. Alternative entry and exit points to the overall MIB program and flexible time frames allow students to tailor their course to suit their goals. This postgraduate business program offers nested qualifications so that students can exit the course:
- after the first 4 core units with a Graduate Certificate of Business
- after the first 8 core units with a Graduate Diploma of International Business
- or complete the 12 units and graduate with the Master of International Business
These nested qualifications give you the flexibility to take a break from studies and come back to complete the degree at your convenience.
Entry Requirements
Course Outline |
| Code |
Unit Name |
| Trimester 1 |
| MGM500 |
Managerial Accounting |
| MGM501 |
Managerial Marketing |
| MGM502 |
Managerial Economics |
| MIB500 |
International Management |
| Trimester 2 |
| MIB503 |
International Trade Law |
| MIB504 |
International Accounting and Taxation |
| MIB501 |
International Marketing |
| MGM504 |
Business Research and Data Interpretation |
| Trimester 3 |
| MIB502 |
International Trade, Markets and Prices |
| MIB505 |
International Finance |
| MIB506 |
International Institutions and Political Environments |
| MIB507 |
International Business Project |
|
Subject Outlines |
| Trimester 1 |
MGM500 Managerial Accounting
This unit explains accounting techniques and terminology, giving participants the conceptual and practical skills to understand complex financial strategies. The unit does not assume prior knowledge of accounting and financial management and introduces the double entry bookkeeping system, trial balance, adjusting entries, the worksheet and the preparation of financial reports. The basics of strategic cash flow and financial statement analysis are also introduced. |
MGM501 Managerial Marketing
Marketing is the planning and execution of the conception, pricing, promotion and distribution of ideas, goods and services to create exchanges that satisfy individual and organisational goals. This unit examines this process from start to finish and helps participants to develop a systematic approach to marketing management; from understanding the needs and wants of customers to effectively managing products, services, and markets. The main elements of product management; pricing, managing distribution channels and the promotional mix are introduced. Participants are encouraged to apply both strategic and operational principles of marketing management to their own customers, products, services and markets. |
MGM502 Managerial Economics
Managerial economics uses applied economic theory as a framework to formulate intelligent and rational business solutions and decisions. Microeconomic principles are applied to the analysis of internal business and external market conditions to enable informed forecasting. Macroeconomic analysis is used to explain the impact of general economic and financial environments on the business and the environment in which the business operates. |
MIB500 International Management
In a globalised business environment, managers must have an understanding of the issues relating to doing business across and within various cultures. This applies to people within organisations and to customer groups. This unit explores the cultural issues that are relevant between different organisations but in particular in different countries. It also examines the legal and economic factors that vary between countries and can impact on business success. Case studies are used to examine effective methods of bridging the cultural divide and promoting effective management. |
| Trimester 2 |
MIB503 International Trade Law
This unit discusses the potential legal issues of conducting international business. When organisations are expanding into global markets, the legal environment may be different and unfamiliar. Business managers need to understand the regulations that apply in those markets to reduce the risk of doing business in foreign markets. In particular, we examine the differences in trade law, marketing law, patent law, credit law and employment law. In terms of trade law, this unit examines the nature of agreements between agents (buyers and sellers) in different countries and law relating to transit of goods between nations. Credit law issues are examined, involving payments and financing. Employment law highlights the differences in treatment of employees, discrimination laws, entitlements and agreements between organisations and employees in various countries. The advent of the global virtual economy has highlighted the need to understand the issues of law in the online environment. The unit will examine protection and security online for both the organisation and customers. Finally, the unit examines issues related to disputes that go beyond domestic boundaries. |
MIB504 International Accounting and Taxation
This unit discusses the potential legal issues of conducting international business. When organisations are expanding into global markets, the legal environment may be different and unfamiliar. Business managers need to understand the regulations that apply in those markets to reduce the risk of doing business in foreign markets. In particular, we examine the differences in trade law, marketing law, patent law, credit law and employment law. In terms of trade law, this unit examines the nature of agreements between agents (buyers and sellers) in different countries and law relating to transit of goods between nations. Credit law issues are examined, involving payments and financing. Employment law highlights the differences in treatment of employees, discrimination laws, entitlements and agreements between organisations and employees in various countries. The advent of the global virtual economy has highlighted the need to understand the issues of law in the online environment. The unit will examine protection and security online for both the organisation and customers. Finally, the unit examines issues related to disputes that go beyond domestic boundaries. |
MIB501 International Marketing
The trend towards globalisation impacts on business decision making and corporate and marketing strategy. This unit focuses on how organisational marketing processes are impacted by the internationalisation of business. The initial module focuses on international environmental factors such as economic and financial sectors, social and cultural elements of the world market environment and the political-legal environment. The second module specifically examines international marketing research issues, in particular highlighting the specific research procedures appropriate when examining foreign markets. The third module examines issues relevant to product (or service), pricing, promotion and distribution in an international context. The final module of the course outlines the development of competitive international marketing strategies. Participants will learn procedures to develop successful marketing plans for international markets with an awareness of, and ability to, identify likely pitfalls. |
MGM504 Business Research and Data Interpretation
This unit is designed to equip managers with the research methodology and skills to make effective use of data in the business workplace. Standard statistical and graphical techniques are used to analyse data using examples applicable to management, marketing, finance and economics. Participants are shown how statistics and analysis of data can assist managers to make better decisions. Participants acquire the ability to collect and manage data, typically using general Excel based skills and will have an understanding of how to describe and model complex business relationships. The unit introduces sampling and inference techniques applicable to means and proportions and develops an understanding of regression modeling and forecasting. |
| Trimester 3 |
MIB502 International Trade, Markets and Prices
This unit examines international trade from both a theoretical and practical perspective.
Economic inter-dependency of nations, analysis of protectionist policies and the international institutions involved in trade are examined in depth The unit examines the nature and theoretical foundations of international trade and the significance of geographic, social, technical and political influences. We review traditional and recent models of the behaviour of firms in the international marketplace including the theory of comparative advantage and neo-classical theories of trade. The role of exchange rates in facilitation and as a consequence of trade and factor movements is examined with some emphasis on exchange rate determination. Above all, the unit seeks to give participants a good understanding of major trade issues and how globalisation impacts on current trading policies. |
MIB505 International Finance
In a globalised environment managers need to understand the tools of international financial management. This unit will provide participants with the necessary tools for effective financial decision making in a global context. Consideration will be given to the environment of international financial management, international financial markets, global flow of funds, the determination of exchange rates and how they interact with interest rates and other financial prices. The unit will examine how exchange rate and interest rate changes impact on the decisions of corporate and institutional managers. Participants will become familiar with the mechanisms that facilitate decisions about the capital budgeting and financing decisions of multinational organisations. Measurement of exchange rate risks, and hedging strategies for currency risks associated with international trade, overseas investments and foreign borrowing through a range of derivatives such as currency futures, options and swaps will also be examined. |
MIB506 International Institutions and Political Environments
The unit is designed to expose participants to the institutions and structures that are integral to international trade, finance and law. At a global or macro level, the unit examines the role of international institutions such as the International Monetary Fund, World Bank and World Trade Organisation, in terms of their structure, purpose and power. There will be discussion of whose interests they serve, and to what degree they attenuate or enhance the power of sovereign states. From a micro perspective the unit examines the institutions that can be utilised to facilitate international trade including governmental, political, economic, legal, regulatory, media and cultural. Case studies are used to facilitate discussion of effective utilisation of institutions to overcome challenges and barriers to trade and to fully exploit opportunities arising from international trade. |
MIB507 International Business Project
Participants will apply the knowledge they have learnt in a project based on their work environment or an examination of an organisation involved in international business. Participants will write a report focusing on evaluation of a business highlighting its international management and strategy, international marketing, international financing and use of e-marketing in an international context if applicable. Participants will submit a report and presentation that demonstrates their understanding and application of the concepts learnt in the Master International Business. |
| Entry Requirements |
Australian Students:
- Academic pre-requisites: A recognised* Bachelors Degree or a combination of academic qualifications and appropriate work experience.
In general, students who do not have a recognised Bachelors Degree will need the following qualifications and experience (AQF refers to the Australian Qualification Framework):
- AQF equivalent Advanced Diploma plus four years work experience, or
- AQF Diploma plus eight years work experience, or
- AQF Higher School Certificate plus 10 years work experience, or
- AQF School Certificate plus 12 years work experience.
* Recognition of qualifications will be at the discretion of the Academic Program Director responsible for academic affairs.
International Students:
- English Language Proficiency: IELTS score of 6.5 (Academic) or TOEFL 550 or Cambridge.
- Academic pre-requisites: A recognised* Bachelors Degree or a combination of academic qualifications and appropriate work experience.
In general, students who do not have a recognised Bachelors Degree will need the following qualifications and experience (AQF refers to the Australian Qualification Framework):
- AQF equivalent Advanced Diploma plus four years work experience, or
- AQF Diploma plus eight years work experience, or
- AQF Higher School Certificate plus 10 years work experience, or
- AQF School Certificate plus 12 years work experience.
* Recognition of qualifications will be at the discretion of the Academic Program Director responsible for academic affairs.
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