ECM5921 - International economics - 2019

The unit introduces basic micro and macroeconomic principles and concepts. It discusses economic interdependence notions and gains from trade and globalisation with application to Malaysia and other Asian countries; attempts of Asian institutions at promoting and facilitating these concepts in the international economy; theories of trade, notions of absolute and comparative advantage; modern trade theory and its extensions; empirical evidence which highlight trade theory strengths and limitations with respect to Asia; investigation and analysis of welfare effects of trade, using both theory and evidence to answer contentious concerns: does trade make the poor in Asia even poorer; are trade restrictions necessary to protect jobs; do larger trade benefits accrue to developed countries more than developing countries and if so why?

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: 40% + Examination: 60%

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