ECF3121 · Economics of international trade

Overview

This unit aims to deepen your understanding of globalisation with a particular focus on international trade. The unit begins by describing historical global patterns of international trade, investment and migration. It turns to the question of why countries engage in international trade. In answer, it covers the main theories of international trade that show how differences in technology or resources can create opportunities for mutually beneficial gains from trade. Within these theories, the unit provides insights into the relationship between trade and inequality within and across countries. Then the unit analyses the effects of tariffs, quotas and other policy instruments on welfare. Finally, the unit considers the effect of international agreements on countries’ welfare, labour and environmental standards.

Offerings

Assessment

The Handbook lists an examination for this unit.

Assessment details may change. Please refer to the assessment information in Moodle closer to the start of the teaching period.

Requisites

Learning outcomes

1. understand why countries engage in international trade
2. explain the main determinants of a country’s trade
3. explain that there are gains from trade that are unevenly distributed across and within countries
4. understand the welfare consequences of trade policy
5. understand and analyse data on countries’ international trade
6. be more critical in your assessment of current debates over globalisation.

Workload

Minimum total expected workload to achieve the learning outcomes for this unit is 144 hours per semester typically comprising a mixture of scheduled learning activities and independent study. Independent study may include associated readings, assessment and preparation for scheduled activities. You are expected to complete all pre-class activities prior to your scheduled class, and post-class activities should be completed after your scheduled class. Learning activities may include a combination of teacher directed, peer directed and online engagement activities.

Student experience, not official rules. Nothing here changes what the Handbook says.