- Code ECON8015
- 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
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.
We will also examine the gains from trade, the determinants of patterns of international trade and the effects of trade on income distribution, all in low-dimensional models. We then turn to policy and analyse a number of arguments, both traditional and more recent, for active trade and industrial policies. We will also consider a selection of other topics in international trade.
Upon successful completion, students will have the knowledge and skills to:
- demonstrate an understanding of the basic models of international economics and the analytical tools that economists use to analyze international economic interactions;
- demonstrate an understanding of the tools taught in class and be able to recognise their application to the analysis of real world fact situations;
- construct theoretical models of international economics related phenomena and manipulate them
- read and understand the gist of professional articles in the field of international trade
- 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 null]
In response to COVID-19: Please note that Semester 2 Class Summary information (available under the classes tab) is as up to date as possible. Changes to Class Summaries not captured by this publication will be available to enrolled students via Wattle.
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Students in this class will share two lectures and a tutorial per week with ECON3103 and a further lectorial 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
This course assumes a good knowledge of intermediate macroeconomics and more advanced microeconomics. It will also be assumed that students are reasonably familiar with mathematical tools and intermediate statistics. No other prior knowledge will be assumed.
Tuition fees are for the academic year indicated at the top of the page.
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- Student Contribution Band:
- Unit value:
- 6 units
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