In this subject, you will be introduced to key economic theories in international trade. You will apply these theories to explore some of the most important questions in international economics. Why do countries trade? What are the gains from trade? What are the patterns of trade and specialisation? Who loses … For more content click the Read more button below.
In this subject, you will be introduced to key economic theories in international trade. You will apply these theories to explore some of the most important questions in international economics. Why do countries trade? What are the gains from trade? What are the patterns of trade and specialisation? Who loses when a country engages in free trade? You will also analyse selected topics in international trade policy, including distortions such as import tariffs and export subsidies, and Australia's position and role in the international marketplace.
Capstones provide students with a way of integrating and applying knowledge and skills gained throughout their course.
No
Academic progress review - Schedule A subject
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Subject instances
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Learning resources
Prescribed - Book - International Economics: Theory & Policy
Title:International Economics: Theory & Policy
Resource requirement:Prescribed
Author/editor:Krugman, Paul R., Maurice Obstfeld, Marc Melitz
Year:2022
Edition/volume:12th Edition (Global)
Publisher:PEARSON
ISBN:9780137465699
Career ready
Work based learning (placement):No
Graduate capabilities
DISCIPLINE KNOWLEDGE AND SKILLS
INQUIRY AND ANALYSIS - Creativity and Innovation
INQUIRY AND ANALYSIS - Critical Thinking and Problem Solving
INQUIRY AND ANALYSIS - Research and Evidence-Based Inquiry
PERSONAL AND PROFESSIONAL - Leadership and Teamwork
Subject intended learning outcomes
On successful completion you will be able to:
1.
Apply economic theories to explain why countries engage in international trade.
2.
Use economic reasoning to assess the consequences of international trade to the economy, including national welfare, production specialisation and the distribution of income.
3.
Implement cost-benefit analysis to evaluate the effects of protectionist and industry incentive policies on economic welfare.
4.
Work effectively in group to critically analyse the position and role of Australia in the global economy.
