ECON 7072 - International Trade PG
North Terrace Campus - Semester 1 - 2015
General Course Information
Course Code ECON 7072 Course International Trade PG Coordinating Unit School of Economics Term Semester 1 Level Postgraduate Coursework Location/s North Terrace Campus Units 3 Contact Up to 3 hours per week Available for Study Abroad and Exchange Y Assumed Knowledge ECON 7011 Restrictions Available to ProCertPubPolicy, GradCertEc, GradCertIntEc, GradDipAppEc, GradDipIntEc, MAppEc, MAppEc(Int), MAppEc(PubPol), MFinBusEc students only Course Description This course deals with the theory and practice of international trade and of trade-related policies. It focuses on analysing the gains from trade, the changing patterns of trade, the income distributional consequences of liberalising foreign trade, the relationship between trade, investment, and economic growth, and the reasons for and consequences of trade policies.
The course relies predominantly on a standard collection international trade models to understand the motivations behind modern trade policies. During the weekly seminar, students then analyse the efficacy of trade policy, considering both intended and unintended consequences of policy choices with particular attention paid to the changing geopolitical environment in which these policies exist.
Course Coordinator: D Dissanayake
Office location: Room 4.41, 10 Pulteney Street
Jesmin Rupa email@example.com
The full timetable of all activities for this course can be accessed from Course Planner.
Course Learning OutcomesOn successful completion of this course students will be able to:
1 understand, at the level of formal analysis, the major models of international trade and be able to distinguish between them in terms of their assumptions and economic implications 2 understand the principle of comparative advantage and its formal expression and interpretation within different theoretical models 3 be able to apply partial equilibrium and (where required) general equilibrium models in analysing the economic effects of (a) trade policy instruments such as tariffs, quotas, export subsidies, (b) retaliatory measures such as anti-dumping duties and countervailing duties and (c) the creation of regional trading arrangements such as free trade areas, customs unions and common markets 4 be familiar with, and be able to critically analyse the main arguments for protection and conversely be able to critically evaluate the relevance and realism of arguments for free trade, taking into account the costs and benefits of trade policy measures on different sections of the community and the implications for the formulation of trade policy 5 be familiar with the major recent developments in the world trading system, and be able to critically analyse key issues raised both by the current round of WTO negotiations and by the spread of regional trading arrangements 6 develop communications skills through the presentation of your work, interactions during tutorial sessions, and appropriate use of the discussion board
University Graduate Attributes
This course will provide students with an opportunity to develop the Graduate Attribute(s) specified below:
University Graduate Attribute Course Learning Outcome(s) Knowledge and understanding of the content and techniques of a chosen discipline at advanced levels that are internationally recognised. 1-6 The ability to locate, analyse, evaluate and synthesise information from a wide variety of sources in a planned and timely manner. 1-6 An ability to apply effective, creative and innovative solutions, both independently and cooperatively, to current and future problems. 1-6 Skills of a high order in interpersonal understanding, teamwork and communication. 1-6 A proficiency in the appropriate use of contemporary technologies. 1-6 A commitment to continuous learning and the capacity to maintain intellectual curiosity throughout life. 1-6 A commitment to the highest standards of professional endeavour and the ability to take a leadership role in the community. 1-6 An awareness of ethical, social and cultural issues within a global context and their importance in the exercise of professional skills and responsibilities. 1-6
International Trade: Theory and Evidence by Markusen, Melvin, Kaempfer and Maskus, Mcgraw Hill, 1995
This textbook is available free of charge and may be downloaded from: http://spot.colorado.edu/~markusen/textbook.html
Recommended ResourcesRobert C. Feenstra and Alan M. Taylor, International Trade (3rd Edition), 2014 Worth Publishers.
Online LearningMyUni - http://www.myuni.adelaide.edu.au
Other online Resources:
International Center for Trade and Sustainable
The World Bank: http://www.worldbank.org
Alan Deardorff’s Glossary of International Economics Terms:
Learning & Teaching Activities
Learning & Teaching Modes
Learning in this course is through lectures, tutorials, and personal study.
The lectures will provide you with the necessary understanding of the material to be able to solve the exercises you will be given during tutorials or exams.
Tutorials represent an important learning component of the class. Students are expected to work through the assignments and prepare solutions to be discussed during the tutorial time.
The information below is provided as a guide to assist students in engaging appropriately with the course requirements.
Lectures: 2 Hours per week
Tutorials: 1 Hour per week
Home study expectation: 6 Hours per week
Learning Activities Summary
Part I Introduction Chapters Wk 1 Technical Concepts - Markusen, et.al., 1 - 4 Wk 2 Why do countries trade? - Markusen, et.al., 5 - 6 Part II Theoretical Analysis of International Trade Wk 3 The Classical Model: Differing Technologies- - Markusen, et.al., 7 Wk 4 & 5 The Heckscher - Ohlin Model - Markusen, et.al., 8 Wk 5 & 6 The Specific Factors Model - Markusen, et.al., 9 Mid Semester Examination Wk 7 Government Policies as the Determinants of Trade - Markusen, et.al., 10 Wk 8 Imperfect Competition as the Determinant of Trade and the Gains from Trade 11 Increasing Returns to Scale - Markusen, et.al., 12 Wk 9 Tastes, Per Capita Income, and Technological -
Change as the Determinants of Trade - Markusen, et.al.,
13 Empirical Studies of Comparative Advantage Models - Markusen, et.al., 14 Part III Trade Policy Wk 10 Tariffs - Markusen, et.al., 15 Quotas and Other Non-tariff Barriers - Markusen, et.al., 16 Week 11 Imperfect Competition, Increasing Returns -
Strategic Trade Policy - Markusen, et.al.,
17 Preferential Trade Areas 18 Week 12 The Political Economy of Trade Policy 19 Administered Protection 20
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Assessment SummaryStudents will be assessed based on the following:
Mid-semester Test 20% Group Assignment #1 15% Group Assignment #2 15% Final Exam 50%
Assessment DetailNOTES ON ASSESSMENT
Assessment marks prior to the final exam may be displayed on the course website through Myuni. Students are encouraged to check their marks and notify the lecturer-in-charge of any discrepancies.
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Students must not submit work for an assignment that has previously been submitted for this course or any other course without prior approval from the lecturer-in-charge.
Grades for your performance in this course will be awarded in accordance with the following scheme:
M10 (Coursework Mark Scheme) Grade Mark Description FNS Fail No Submission F 1-49 Fail P 50-64 Pass C 65-74 Credit D 75-84 Distinction HD 85-100 High Distinction CN Continuing NFE No Formal Examination RP Result Pending
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