Why do countries trade with each other? How, why and by whom is international trade regulated? What are the welfare consequences of international trade? How does international trade affect individual firms, consumers, workers and industries? Why do some firms decide to export but not others? What is the impact of government policies on trade and welfare, and what are the best policies? What are the welfare effects of preferential trading arrangements between countries? What does the WTO do? What determines currency exchange rates and is a low or high dollar a good thing? Is monetary and fiscal policy more or less effective in an open economy than in a closed one? These are some of the questions we will consider in this class.
Upon successful completion, students will have the knowledge and skills to:
On completion of the course, students should:
· be familiar with the main economic theories and models of international trade,
· be aware of the likely distributional consequences of trade and thus of conflicting interests within an economy regarding trade liberalization,
· understand economists’ arguments concerning trade policy and its analysis,
· be able to apply economic reasoning to issues of the day surrounding globalization,
· have an elementary understanding of open-economy macroeconomics and the determinants of exchange rates and the balance of payments.
This course is for intending Economics IV Honours students and other students who want a greater level of challenge, a more extensive treatment of the theory of international trade than is possible in the pass course and, particularly, an introduction to the use of general equilibrium analysis and its quantitative application in the context of trade models.
Information presented here should be read in parallel with ECON3103 International Economics (P).
See the course outline on the College courses page. Outlines are uploaded as they become available.
Assessment will be based on a convex combination of Problem Sets, a midterm examination, a final examination, a class presentation and participation in online and in-class exercises, where not all of these elements may receive a non-zero weight. The exams may include a range of question types including, but not limited to, short answer questions, definitional questions, analytical problems and essays.
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Lectures and tutorials as for the pass course plus one additional honours lecture per week.
Requisite and Incompatibility
As for the pass course, with additional journal article references and web materials.
Tuition fees are for the academic year indicated at the top of the page.
If you are a domestic graduate coursework or international student you will be required to pay tuition fees. Tuition fees are indexed annually. Further information for domestic and international students about tuition and other fees can be found at Fees.
- Student Contribution Band:
- Unit value:
- 6 units
If you are an undergraduate student and have been offered a Commonwealth supported place, your fees are set by the Australian Government for each course. At ANU 1 EFTSL is 48 units (normally 8 x 6-unit courses). You can find your student contribution amount for each course at Fees. Where there is a unit range displayed for this course, not all unit options below may be available.
Offerings, Dates and Class Summary Links
ANU utilises MyTimetable to enable students to view the timetable for their enrolled courses, browse, then self-allocate to small teaching activities / tutorials so they can better plan their time. Find out more on the Timetable webpage.
Class summaries, if available, can be accessed by clicking on the View link for the relevant class number.
|Class number||Class start date||Last day to enrol||Census date||Class end date||Mode Of Delivery||Class Summary|
|4790||15 Feb 2016||26 Feb 2016||31 Mar 2016||27 May 2016||In Person||N/A|