- Code ECON3103
- Unit Value 6 units
- Offered by Research School of Economics
- ANU College ANU College of Business and Economics
- Course subject Economics
- Areas of interest Economics, International Business
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? Is a tariff war “easy to win”? 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 might consider in this class.
Upon successful completion, students will have the knowledge and skills to:
- demonstrate an understanding of the main economic theories and models of international trade,
- demonstrate an understanding of the likely distributional consequences of trade and thus of conflicting interests within an economy regarding trade liberalization,
- demonstrate an understanding of economists’ arguments concerning trade policy and its analysis,
- to apply economic reasoning to issues of the day surrounding globalization,
- demonstrate an elementary understanding of open-economy macroeconomics and the determinants of exchange rates and the balance of payments.
- Assessment will be based on a combination of Problem Sets, quizzes, a class presentation, a midterm exam, a final exam and participation in online and in-class exercises, where not all of these elements will necessarily receive a non-zero weight in any given semester. (100) [LO 1,2,3,4,5]
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Two lectures and one tutorial per week. Students are expected to spend roughly 10 hours a week on this course, on average across the semester.
Requisite and Incompatibility
See Class Summary and Wattle site.
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- 6 units
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