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International Trade (9547.1)

Level: Undergraduate Third Year Level
Credit Points: 3
HECS Bands: 2, 3
Faculty: Faculty of Business, Government & Law
Discipline: School of Government & Policy

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    Syllabus

    This unit provides an analytical framework for the study of international trade. Historically, international trade has played a critical role in enabling countries to grow, develop, and become economically powerful. Through international trade in goods and services, the economies of different countries are more closely linked to one another now than ever before. At the same time, the world economy is more turbulent now than it has been in decades. Keeping up with the shifting international environment has become a central concern in business strategy and national economic policy. This unit uses the same fundamental methods of analysis deployed in other branches of economics, as the motives and behaviour of individuals and firms remain the same whether they are in the context of international trade or domestic transactions.

    Learning Outcomes

    Upon successful completion of this unit, students will be able to:

    1. Distinguish between international trade and international finance;

    2. Describe the current world trading system and the basic rules underlying this system;

    3. Explain and discuss historic, current, and emerging economic models in the United States and around the world;

    4. Discuss recent developments in the field of international macroeconomics;

    5. Use an analytical framework to examine contemporary international economic issues;

    6. Discuss international trade and the issues arising from the globalisation of markets;

    7. Discuss the concepts of foreign exchange, its importance to individuals, businesses, and the performance of national economies, and how foreign exchange markets work;

    8. Analyse policy issues related to international trade; and

    9. Describe the legal system governing international economic transactions and international economic relations.

    Contact Hours

    150 learning hours in online self-paced mode.

    Prerequisites

    9518 Foundations of Microeconomics OR 6355 Introduction to Economics

    Corequisites

    None.

    Assumed Knowledge

    NONE

    Incompatible Units

    NONE.

    Equivalent Units

    NO.



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