For the first time, QS has released its International Trade Rankings, aimed at providing insights into how the discipline is being taught in higher education
By Kesh Patel, Commercial Lead, QS Digital and Events
QS has partnered with the Hinrich Foundation to publish the first QS International Trade Rankings, featuring preeminent graduate international trade programmes from institutions around the world.
The International Trade Rankings explore programmes that upskill their students for a career in international trade, using criteria that assesses universities on Trade Programme Content, Graduate Outcomes, Industry Engagement, Innovative Teaching, Reputation, Programme Delivery and Research.
These performance lenses are broken down into sub-indicators that focus on pedagogy, industry preparedness and graduate outcomes; some of the core principals of the ranking.
The rankings can include any MBA or master’s programme with the relevant trade content to prepare students for a career in international trade. The multi-program ranking provides students with the most flexibility to view programs that are suitable for work experience level and stage in their career.
These rankings have been made possible by The Hinrich Foundation, a philanthropic organisation working to advance mutually beneficial and sustainable global trade through research and education. The Hinrich Foundation offers research and teaching materials to aid the strengthening of global trade education as well as grants and scholarships to support candidates.
Methodology
The QS International Trade Rankings, in partnership with the Hinrich Foundation, identifies the top Global Trade programmes in the world.
To publish our first International Trade Rankings, we’ve reached out to more than two hundred representatives at universities across the globe who are delivering cross-border trade education. The ranking focuses on course content, innovative teaching as well as the graduate prospects of the institutions and programmes.
To ensure the relevancy of the ranking criteria, the Foundation drew on its rich expertise in trade, and elicited input from a panel of trade professionals and graduate-level professors of practice. Among key recommendations are that a quality trade curriculum includes courses on cross-border trade, policy, logistics, international trade finance and cross-cultural leadership. Top programmes have professors with rich industry experience, strong industry engagement and flexible programme delivery.
This inaugural ranking, employing a bespoke methodology, is intended to begin a conversation with our sector on which institutions are truly elevating trade education. This 1st edition is our call to the market to engage with the methodology, provide sector-driven feedback and help us deliver a truly informative ranking to students wishing to enter or progress in this vital and exciting career path.
The set of performance lenses and indicators for our International Trade Rankings and their weights are shown below, linking to their fuller descriptions in our methodology section.
Seven indicator lenses
- Trade Programme Content 35%
- Graduate Outcome 15%
- Industry Engagement 15%
- Innovative Teaching 15%
- Reputation 10%
- Programme Delivery 5%
- Research 5%
Sub-Indicator
- Module Content 35%
- Experiential Learning 10%
- Graduate Employment Rate 10%
- Faculty Industry Experience 8%
- Employer Reputation 6%
- Partnerships with Employers 5%
- Graduate Support 5%
- Citations per Paper 5%
- In-person/Online 5%
- Internships 5%
- Academic Reputation 4%
- Partnering with Industry Bodies 2%
Employer imperative for quality international trade education
As the world drops all COVID-19 restrictions, the online realm still provides the ability to travel almost anywhere virtually.
By Professor Gael McDonald, Academic Ambassador for the Hinrich Foundation and Professor Emeritus Global Development Portfolio of RMIT University, Australia
An often-unseen benefit [of international trade] is the political cooperation and stability
Sustainable, mutually beneficial approaches to global trade can positively impact people, profits and our planet in remarkable ways. Executed correctly, trade can help create job opportunities and alleviate poverty. According to the World Bank, since 1990, over one billion people have been lifted out of poverty through the effects of global trade.
However, to fully reap the benefits of international trade, there is a need to properly educate talented, agile trade professionals who can navigate the complex and rapidly changing trade environment. In short, sustainable trade must be taught.
To aid those passionate about starting or advancing careers in global trade, QS launched the International Trade Rankings in partnership with the Hinrich Foundation, an Asian-based philanthropic organisation that promotes sustainable global trade through research and education initiatives. The annual Rankings, launched in 2022, evaluate 200 Master’s programmes globally based on the depth of their trade-related course content, level of industry engagement, innovative teaching and graduate outcomes, among others.
The Rankings cover MBAs, EMBAs, MAs and MS’s programmes to guide students to the world’s best programmes for quality international trade-related education and to direct employers to the best sources of work-ready talent for careers in cross-border trade.
Trade done Well
While the challenges are intense, the benefits of international trade are numerous. At the practical level, international trade facilitates consumers acquiring a wide range of goods and services not available locally, or at a lower cost than items locally produced. This can create greater specialisation and efficiency in production internationally. Increases in production and export capacity can also lead to higher standards of living in domestic markets as well as growing GDP.
Trade’s interdependency is not just about the money; an often-unseen benefit is the political cooperation and stability. Trade between countries can serve as a strong incentive to avoid conflict with trading partners.
What employers need in future trade leaders
Companies operating across national boundaries are facing global value chain integration and decoupling, ever-changing trade policies, the rise of digital trade, the global pandemic and a host of other disruptions. This environment has highlighted a greater-than-ever need for advanced global trade education. Organisations active in international trade are acutely aware of the need for well-trained professionals and seek to identify educational programmes that best equip their current or future staff for real-world challenges.
Specifically, they’re seeking programmes with a deliberate and clear philosophy of partnering with stakeholders to ensure relevant programme structure and course content, as well as graduates who have been exposed through multidisciplinary education to high levels of industry engagement, innovative teaching methods and relevant industry content. Vital, contemporary content includes cross-border trade, trade policy logistics and supply chain management trade financing as well as current digital applications, multi-cultural leadership and soft skills.
Ideally, learning would be experiential in nature and assessment would move away from more traditional formal exams and toward more authentic demonstrations by students to access data, undertake analysis and apply skills and knowledge. Quality programmes are those that promote learning via the undertaking of real-world tasks and problem-solving exercises provided by – and critiqued by – industry partners engaged in global trade.
Greater levels of flexibility in course delivery are also being sought to enable trade professionals to engage in educational pursuits while also remaining employed. While this seems like a lot to ask for, these expectations for global trade education are in demand by students and employers alike.
Win-win-win
Improving global trade education benefits individuals, businesses and countries to succeed in the global economy with the added value of increased economic prosperity and political stability.
International trade has enormous potential to alter the economic trajectory of both developed and developing countries, yet global trade is often highly volatile. The influence of geo-politics, a reframing of the role of the World Trade Organization, instability in the supply chain and inflation are just a few of the tremendous challenges trade professionals need to understand and prepare for. The right type of postgraduate education is needed to ensure those passionate about trade can effectively foster and intensify its many global benefits.
The International Trade Rankings shine a light on international trade programmes focused on industry-relevant content, innovative teaching, flexibility and superior graduate outcomes. The aim of the Rankings is to empower students to attain the knowledge they need to become next-generation trade leaders, to encourage universities to continue to evolve their approaches to trade education and to guide employers to the leading sources of work-ready talent.
It’s win-win-win – which is the essence of global trade.