ECF3121 - Economics of international trade

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Overview

This unit aims to deepen your understanding of globalisation with a particular focus on international trade. The unit begins by describing historical global patterns of international trade, investment and migration. It turns to the question of why countries engage in international trade. In answer, it covers the main theories of international trade that show how differences in technology or resources can create opportunities for mutually beneficial gains from trade. Within these theories, the unit provides insights into the relationship between trade and inequality within and across countries. Then the unit analyses the effects of tariffs, quotas and other policy instruments on welfare. Finally, the unit considers the effect of international agreements on countries’ welfare, labour and environmental standards.

Offerings

S2-01-CAULFIELD-ON-CAMPUS

Requisites

Prerequisite

Prohibition

Rules

Enrolment Rule

Contacts

Chief Examiner(s)

Dr Laura Puzzello

Learning outcomes

On successful completion of this unit, you should be able to:

understand why countries engage in international trade

explain the main determinants of a country’s trade

explain that there are gains from trade that are unevenly distributed across and within countries

understand the welfare consequences of trade policy

understand and analyse data on countries’ international trade

be more critical in your assessment of current debates over globalisation.

Teaching approach

Online learning

Assessment

1 - Within semester assessment

2 - Examination

Scheduled and non-scheduled teaching activities

Lectures

Tutorials

Workload requirements

Workload

Minimum total expected workload to achieve the learning outcomes for this unit is 144 hours per semester typically comprising a mixture of scheduled learning activities and independent study. Independent study may include associated readings, assessment and preparation for scheduled activities. The unit requires on average three/four hours of scheduled activities per week. Scheduled activities may include a combination of teacher directed learning, peer directed learning and online engagement.

Learning resources

Technology resources