Authorised by Academic Registrar, April 1996
Objectives On completion of this subject a student should understand the welfare gains that accrue from international trade and the losses associated with barriers to trade; appreciate the characteristics of Australia's participation in the international economy; understand the role of international institutions like the IMF, WTO and World Bank; understand the motives and operation of regional trade groups; have critically examined the various theories of multinational corporations and investment; understand the various modes of entry available to multinational corporations; appreciate the interaction between foreign direct investment and international trade.
Synopsis Multinational corporations and their role in the international economy; theories of international trade and the characteristics of Australia's role in the international economy; theories of internationalisation of firms; forms of international business including multidomestics, multinationals, transnationals, licensing, franchising and management contracts; the impact on trade patterns of foreign direct investment; locational choice for multinational corporations; regional trade groups and their impact on trade and investment; the institutional environment of international business including the World Bank and World Trade Organisation.
Assessment Minor essay (1000 words): 10% + Major essay (2000 words): 20% + Tutorial presentation and contribution: 10% + Examination (2 hours): 60%