ECON 4008 - International Trade IV (H)
North Terrace Campus - Semester 2 - 2016
General Course Information
Course Code ECON 4008 Course International Trade IV (H) Coordinating Unit School of Economics Term Semester 2 Level Undergraduate Location/s North Terrace Campus Units 3 Contact Up to 4 hours per week Available for Study Abroad and Exchange N Prerequisites ECON 2506 , ECON 2507 OR ECON 3506 Restrictions Available only to students enrolled in the Bachelor of Economics (Honours) program Course Description This course seeks to provide the tools necessary to obtain a clear understanding of what determines the way international trade patterns evolve through time as economies grow. That requires drawing on and strengthening our knowledge of (a) trade theories, (b) the economics and political economy of foreign trade and investment policies, and (c) quantitative modelling of global trade flows.
Course Coordinator: Emeritus Professor Kym AndersonProfessor Kym Anderson
Location: Room 4.45, 10 Pulteney Street
Telephone: 8313 4712
Office hours for students: 5.30-6.30pm Wednesdays
The full timetable of all activities for this course can be accessed from Course Planner.
Course Learning OutcomesThis course seeks to improve our understanding of the economic effects of countries engaging in international trade in goods, services, capital, labour and technologies. That understanding is useful in its own right, but it also sheds light on the reasons behind governments choosing to limit some of those cross-border flows. The open-economy, general equilibrium (economy wide) focus of the course is also helpful in other fields of economics including public finance, environmental and resource economics, agricultural or other industry/sector economics, and the economics of politics. The course assumes students have the basic toolkit of microeconomics and trade theory from International Trade III or an equivalent level III trade subject, which will be built on and applied to analyse contemporary trade and trade-related policy issues.
The specific course learning objectives are:
1) To understand what determines trade patterns, by exploring various trade theories
2) To understand the links between trade and economic development
3) To analyse the economic impacts of trade policies, including via global economic models
4) To survey arguments for and against trade-distorting policies
5) To understand the role of the World Trade Organization (WTO) and preferential trading agreements
6) To develop students’ abilities to interact with the lecturer and each other in discussing trade-related economic issues
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) Deep discipline knowledge
- informed and infused by cutting edge research, scaffolded throughout their program of studies
- acquired from personal interaction with research active educators, from year 1
- accredited or validated against national or international standards (for relevant programs)
1 to 5 Critical thinking and problem solving
- steeped in research methods and rigor
- based on empirical evidence and the scientific approach to knowledge development
- demonstrated through appropriate and relevant assessment
1 to 6 Teamwork and communication skills
- developed from, with, and via the SGDE
- honed through assessment and practice throughout the program of studies
- encouraged and valued in all aspects of learning
6 Career and leadership readiness
- technology savvy
- professional and, where relevant, fully accredited
- forward thinking and well informed
- tested and validated by work based experiences
1 to 6 Intercultural and ethical competency
- adept at operating in other cultures
- comfortable with different nationalities and social contexts
- Able to determine and contribute to desirable social outcomes
- demonstrated by study abroad or with an understanding of indigenous knowledges
6 Self-awareness and emotional intelligence
- a capacity for self-reflection and a willingness to engage in self-appraisal
- open to objective and constructive feedback from supervisors and peers
- able to negotiate difficult social situations, defuse conflict and engage positively in purposeful debate
Required ResourcesNo one textbook is required
Recommended ResourcesAn up-to-date reading list of papers available on MyUni will be provided at the start of and during 2nd semester
Online LearningA reading list of papers available on MyUni will be provided at the start of 2nd semester and revised as needed during the semester. The PPT file used in each lecture will be uploaded on MyUni after each lecture.
Learning & Teaching Activities
Learning & Teaching ModesStudent participation in lectures is actively encouraged in the form of questions, comments and discussion.
The information below is provided as a guide to assist students in engaging appropriately with the course requirements.In addition to the two 2-hour classes each week, students are expected to spend an additional 8 hours each week studying the required readings in advance of and then again following each lecture.
Learning Activities SummaryLecture Topics
Heckscher-Ohlin-Samuelson and specific factors models with just two goods
Krueger/Deardorff combination of those two models (still 2 sectors but many goods)
Leamer development model with many goods with many goods and 3 mobile factors
The addition of nontradables
The roles of increasing returns, monopolistic competition, and firm heterogeneity and supply chains
The roles of production fragmentation/supply chains and of trade costs
Preference and technology differences across countries
Theory of trade-distorting policies
Policy patterns across countries and intersectorally within countries
Estimating the economy wide effects of structural and trade policy reforms using CGE modeling
Why do countries restrict trade, and differently at different development stages?
What role can WTO and preferential trade agreements play in reducing trade distortions?
Small Group Discovery ExperienceGiven the small number in this course, every class period will involve student participation in discussion.
The University's policy on Assessment for Coursework Programs is based on the following four principles:
- Assessment must encourage and reinforce learning.
- Assessment must enable robust and fair judgements about student performance.
- Assessment practices must be fair and equitable to students and give them the opportunity to demonstrate what they have learned.
- Assessment must maintain academic standards.
Assessment SummaryMid-semester test: 30% (in a class in late August or early September).
Final Exam: 70%
Assessment DetailAssessment 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.
It is each student's responsibility to read the examination timetable.
SubmissionThere will be no assignments to submit in this course.
Grades for your performance in this course will be awarded in accordance with the following scheme:
M11 (Honours Mark Scheme) Grade Grade reflects following criteria for allocation of grade Reported on Official Transcript Fail A mark between 1-49 F Third Class A mark between 50-59 3 Second Class Div B A mark between 60-69 2B Second Class Div A A mark between 70-79 2A First Class A mark between 80-100 1 Result Pending An interim result RP Continuing Continuing CN
Further details of the grades/results can be obtained from Examinations.
Grade Descriptors are available which provide a general guide to the standard of work that is expected at each grade level. More information at Assessment for Coursework Programs.
Final results for this course will be made available through Access Adelaide.Additional Assessment
If a student receives 45-49 for their final mark for the course they will automatically be granted an additional assessment. This will most likely be in the form of a new exam (Additional Assessment) and will have the same weight as the original exam unless an alternative requirement (for example a hurdle requirement) is stated in this semester’s Course Outline. If, after replacing the original exam mark with the new exam mark, it is calculated that the student has passed the course, they will receive 50 Pass as their final result for the course (no higher) but if the calculation totals less than 50, their grade will be Fail and the higher of the original mark or the mark following the Additional Assessment will be recorded as the final result.
The University places a high priority on approaches to learning and teaching that enhance the student experience. Feedback is sought from students in a variety of ways including on-going engagement with staff, the use of online discussion boards and the use of Student Experience of Learning and Teaching (SELT) surveys as well as GOS surveys and Program reviews.
SELTs are an important source of information to inform individual teaching practice, decisions about teaching duties, and course and program curriculum design. They enable the University to assess how effectively its learning environments and teaching practices facilitate student engagement and learning outcomes. Under the current SELT Policy (http://www.adelaide.edu.au/policies/101/) course SELTs are mandated and must be conducted at the conclusion of each term/semester/trimester for every course offering. Feedback on issues raised through course SELT surveys is made available to enrolled students through various resources (e.g. MyUni). In addition aggregated course SELT data is available.
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