6 points, SCA Band 3, 0.125 EFTSL
Undergraduate - Unit
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Synopsis
This unit develops an understanding of the theory of international trade. It explains how international trade creates gains for a nation and the effect this has on its economic outcomes, such as economic growth and income distribution. The unit discusses the role of trade policy; tariffs, quotas, subsidies and import discrimination on trade patterns. The unit also looks at the international finance and the foreign exchange markets, with emphasis on stability of the foreign exchange market, exchange rate determination, the balance of payments and the role of exchange rate policies.
Outcomes
The learning goals associated with this unit are to:
- draw upon skills developed in micro and macroeconomics to enable students to understand and critically evaluate contemporary policy debates in international trade and finance
- develop the ability to use powerful analytical tools to predict the impact of global economic, political and social policies on Australia as a small open economy
- recognise the positive welfare effects of worldwide unrestricted trade.
Assessment
Within semester assessment: 40% + Examination: 60%
Workload requirements
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. The unit requires on average three/four hours of scheduled activities per week. Scheduled activities may include a combination of teacher directed learning, peer directed learning and online engagement.
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