International Trade

This subject has the following teaching availabilities in 2016:

Estimated total time commitment of 120 hours per semester

or

None

None

For the purposes of considering request for Reasonable Adjustments under the Disability Standards for Education (Cwth 2005), and Student Support and Engagement Policy, academic requirements for this subject are articulated in the Subject Overview, Learning Outcomes, Assessment and Generic Skills sections of this entry.

It is University policy to take all reasonable steps to minimise the impact of disability upon academic study, and reasonable adjustments will be made to enhance a student's participation in the University's programs. Students who feel their disability may impact on meeting the requirements of this subject are encouraged to discuss this matter with a Faculty Student Adviser and Student Equity and Disability Support: http://services.unimelb.edu.au/disability

Topics include explanations of the patterns of trade and the gains from trade; the analytics of the instruments of trade policy under different market structures; the generalised theory of distortions in open economies; the political economy of trade policy; the economics of preferential trade agreements; and the role of the World Trade Organisation.

On successful completion of this subject students should be able to:

• Explain why countries engage in international trade;
• Analyse the causes and consequences of international trade;
• Synthesise the theoretical and empirical literature and describe the current state of knowledge in the field of international trade;
• Analyse the welfare effects of various trade policies under different industry structures, such as monopolies, oligopolies and monopolistic competition;
• Evaluate the welfare effects of trade and industry policies under various trading regimes (regional trading blocs vs multilateralism);
• Critically evaluate the income and distributional effects of various trade policies.

• 2-hour end-of-semester examination (70%); and
• Four 1000-word class assignments (7.5% each) due fortnightly

You will be advised of prescribed texts by your lecturer.

This subject is not available as a breadth subject.

On successful completion of this subject, students should have improved the following generic skills:

• Evaluation of ideas, views and evidence
• Synthesis of ideas, views and evidence
• Strategic thinking
• Critical thinking
• Application of theory to economic policy and business decision making
• Accessing economic and other information
• Summary and interpretation of information
• Using computer programs
• Statistical reasoning
• Problem solving skills
• Written communication
• Oral communication

Students may not gain credit for both ECON90019 International Trade and ECON40003 International Trade.