ECF5921 - International economics - 2019

The unit introduces basic economic principles and concepts and discusses economic interdependence notions and gains from trade and globalisation; the role of institutions in promoting and facilitating these concepts in the international economy; theories of trade, incorporating notions of absolute and comparative advantage; modern trade theory and its extensions; empirical evidence which highlight trade theory strengths and limitations; investigation and analysis of welfare effects of trade, using both theory and evidence to answer contentious concerns: does trade make the poor even poorer; are trade restrictions necessary to protect jobs; do larger trade benefits accrue to developed countries more than developing countries?

The learning goals associated with this unit are to:

1. introduce basic economic principles, concepts and ideas
2. identify and understand the theoretical foundations of why economies engage in trade
3. critically analyse issues, concerns and developments in the international economy and be able to interpret their impacts on the Australian economy.

Within semester assessment: 50% + Examination: 50%

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.

See also Unit timetable information