Students
ECON847 – International Trade
2015 – S2 External
General Information
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| Unit convenor and teaching staff |
Unit convenor and teaching staff
Unit Convenor
Ha Vu
Contact via ha.vu@mq.edu.au
E4A 429
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| Credit points |
Credit points
4
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| Prerequisites |
Prerequisites
ECON632 or ECON633 or admission to MIntRelMIntTrdeComLaw or MIntTrdeComLaw or PGDipIntTrdeComLaw or PGCertIntTrdeComLaw
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| Corequisites |
Corequisites
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| Co-badged status |
Co-badged status
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| Unit description |
Unit description
This unit examines international trade both in theory and practice. It first reviews the theories related to inter- and intra-industry trade determination and the empirical evidence supporting them. It then examines trade policies, covering a wide range of topics, illustrated by up-to-date case studies. The unit has a policy approach and aims at also providing students with a good understanding of major trade issues around the world and the effects of globalisation on trade. It focuses on current applications of theoretical principles.
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Important Academic Dates
Information about important academic dates including deadlines for withdrawing from units are available at https://www.mq.edu.au/study/calendar-of-dates
Learning Outcomes
On successful completion of this unit, you will be able to:
- Characterize major international trade theories to explain alternative patterns of trade.
- Examine international trade instruments, and articulate arguments for and against protectionism.
- Evaluate the impact of major trade issues on countries with a focus on the tradeoffs between efficiency and equity.
- Recorgnize how changes in the terms of trade and economic growth affect the welfare of nations engaged in international trade.
General Assessment Information
It is important to note that students must complete all tasks in this course to successfully complete this unit.
Submission method
All assignments and review essay must be submitted online through Turnitin to detect plagiarism and to determine whether the submitted work is your own.
The Online Test must be completed on line during the designated period of time.
It is important to note that any student who submits an assignment or essay that is not their own work will be automatically be given a mark of zero. Students will also face serious disciplinary action, which may include an automatic failure of ECON847 and the possible exclusion from Macquarie University. For further information on plagiarism and how to avoid it, please refer to the Academic Honesty Policy link in the Policies and Procedures section of this guide.
Extension
No extensions will be granted. Students who have not submitted any tasks by the deadline will be awarded a mark of 0 for the task, except for cases in which an application for Disruption to Studies is made and approved.
Assessment Tasks
| Name | Weighting | Due |
|---|---|---|
| Assignment 1 | 20% | 6pm Sunday 23/8/2015 |
| Review Essay | 20% | 6pm Sunday 13/9/2015 |
| Assignment 2 | 20% | 6pm Sunday 18/10/2015 |
| Online Test | 40% | 6pm Sunday 8/11/2015 |
Assignment 1
Due: 6pm Sunday 23/8/2015
Weighting: 20%
This assignment will be a combination of problem solving and discussion/explanation questions, which may include calculations and diagrammatical illustrations. The questions will be released on iLearn a week before the due date and cover Topics 1, 2, and 3.
On successful completion you will be able to:
- Characterize major international trade theories to explain alternative patterns of trade.
- Examine international trade instruments, and articulate arguments for and against protectionism.
Review Essay
Due: 6pm Sunday 13/9/2015
Weighting: 20%
Write a 1600 word summary and evaluation of the given article (to be released on ilearn). A "review essay" is a summary of your own words of the article, together with an appraisal of it. Your review essay should be about 70% summary and 30% appraisal. Summary means you summarize the main points and explain the article in your own words. Figures, tables, or equations in the article should not be included in your essay. Appraisal means you express your thoughts about the article. For example, whether the article is full of insightful remarks, whether the article gives adequate consideration/analysis of the main issues, or if the article covers too much or too little ground, any additional aspects should be included in the article. Your bibliography can be minimal.
On successful completion you will be able to:
- Characterize major international trade theories to explain alternative patterns of trade.
- Examine international trade instruments, and articulate arguments for and against protectionism.
- Evaluate the impact of major trade issues on countries with a focus on the tradeoffs between efficiency and equity.
Assignment 2
Due: 6pm Sunday 18/10/2015
Weighting: 20%
This assignment will be a combination of problem solving and discussion/explanation questions. The questions will be released on iLearn a week before the aforementioned due date. It will cover Topics 4, 5, 6, 7, and 8.
On successful completion you will be able to:
- Examine international trade instruments, and articulate arguments for and against protectionism.
- Evaluate the impact of major trade issues on countries with a focus on the tradeoffs between efficiency and equity.
- Recorgnize how changes in the terms of trade and economic growth affect the welfare of nations engaged in international trade.
Online Test
Due: 6pm Sunday 8/11/2015
Weighting: 40%
The Online Test will be accessed through the unit web page at http://ilearn.mq.edu.au. The Test will be opened between 6pm Friday 6/11/2015 and 6pm Sunday 8/11/2015, and students will have two hours to complete the test online.
The Test will typically involve short and longer answer questions and it will cover ALL topics. Detailed instruction will be provided in Week 11.
On successful completion you will be able to:
- Characterize major international trade theories to explain alternative patterns of trade.
- Examine international trade instruments, and articulate arguments for and against protectionism.
- Evaluate the impact of major trade issues on countries with a focus on the tradeoffs between efficiency and equity.
- Recorgnize how changes in the terms of trade and economic growth affect the welfare of nations engaged in international trade.
Delivery and Resources
Technology used:
All assessments will be implemented on iLearn at the time and date specified in accordance with each assessment component.
Lecture materials (power of point slides and videos) and exercise questions will be posted on iLearn website. You need to check iLearn regularly.
Recommended Textbooks:
Salvatore, Dominick (2012), Introduction to International Economics, 3rd Ed, John Wiley and Sons.
Gerber, James (2010), International Economics, 5th Ed, Pearson Addison-Wesley.
Krugman, P, Obstfeld, M., and Melitz, M. (2012) International Economics: Theory & Policy, 9th Ed, Pearson.
Carbaugh, R. (2005), International Economics, 10th Ed, Thomson.
Husted, S. and Melvin, J. (2013), International Economics, 9th Ed, Pearson Addison Wesley.
Pugel, T. (2014), International Economics, 16th Ed, McGraw-Hill.
Sawyer, W. and Sprinkle, R. (2006), International Economics, Pearson.
Useful Websites:
Australian Department of Foreign Affairs and Trade, www.dfat.gov.au
Australian Bureau of Statistics, www.abs.gov.au
International Monetary Fund, www.imf.org
Journal of International Economics, http://www.sciencedirect.com/science/journal/00221996.
Organisation for Economic Cooperation and Development, www.oecd.org
The Economist, www.economist.com
The United Nations Conference on Trade and Development (UNCTAD), www.unctad.org
World Trade Organisation, www.wto.org
World Bank, www.worldbank.org
Unit Schedule
LECTURE TOPICS
1. There are 10 topics to be covered over the 13-week semester. Some topics are longer than others, thus the numbering of topics below is not related to the number of lecture weeks.
2. It is essential that students watch the video recorded for each topic on a weekly basis.
Topic 1: The Gains from Trade and Sources of Comparative Advantage
Salvatore, Chapters 1 & 2.
Gerber, Chapters 3 & 4.
Topic 2: Intra-Industry Trade
Salvatore, Chapters 2, 3, & 4.
Gerber, Chapter 5 (p. 93-103).
Topic 3: Trade Restrictions (1): Tariffs
Salvatore, Chapter 5.
Gerber, Chapter 6 (p. 119-131).
Topic 4: Trade Restrictions (2): Non-Tariff Barriers
Salvatore, Chapter 6.
Gerber, Chapter 6 (p. 132-136).
Topic 5: Political Economy of Trade
Salvatore, Chapter 6.
Gerber, Chapter 5 (p. 103-115), Chapter 7.
Topic 6: Trade and the Global Economy
Salvatore, Chapter 1.
Gerber, Chapters 2 & 8.
Topic 7: Trade Blocs
Salvatore, Chapter 7.
Gerber, Chapters 13 & 14.
Topic 8: Trade and Development
Salvatore, Chapter 8.
Gerber, Chapter 15 (p. 362-371), Chapter 16.
Topic 9: International Factor Movements
Salvatore, Chapter 9.
Gerber, Chapter 3 (p. 84-86), Chapter 9 (p. 186-190).
Topic 10: International Trade and Exchange Rate Movements
Salvatore, Chapters 10 & 11.
Gerber, Chapter 10.
Learning and Teaching Activities
Lectures and exercise questions
Learning by Doing
Policies and Procedures
Macquarie University policies and procedures are accessible from Policy Central. Students should be aware of the following policies in particular with regard to Learning and Teaching:
Academic Honesty Policy http://mq.edu.au/policy/docs/academic_honesty/policy.html
Assessment Policy http://mq.edu.au/policy/docs/assessment/policy.html
Grading Policy http://mq.edu.au/policy/docs/grading/policy.html
Grade Appeal Policy http://mq.edu.au/policy/docs/gradeappeal/policy.html
Grievance Management Policy http://mq.edu.au/policy/docs/grievance_management/policy.html
Disruption to Studies Policy http://www.mq.edu.au/policy/docs/disruption_studies/policy.html The Disruption to Studies Policy is effective from March 3 2014 and replaces the Special Consideration Policy.
In addition, a number of other policies can be found in the Learning and Teaching Category of Policy Central.
Student Code of Conduct
Macquarie University students have a responsibility to be familiar with the Student Code of Conduct: https://students.mq.edu.au/support/student_conduct/
Results
Results shown in iLearn, or released directly by your Unit Convenor, are not confirmed as they are subject to final approval by the University. Once approved, final results will be sent to your student email address and will be made available in eStudent. For more information visit ask.mq.edu.au.
Student Support
Macquarie University provides a range of support services for students. For details, visit http://students.mq.edu.au/support/
Learning Skills
Learning Skills (mq.edu.au/learningskills) provides academic writing resources and study strategies to improve your marks and take control of your study.
Student Services and Support
Students with a disability are encouraged to contact the Disability Service who can provide appropriate help with any issues that arise during their studies.
Student Enquiries
For all student enquiries, visit Student Connect at ask.mq.edu.au
IT Help
For help with University computer systems and technology, visit http://informatics.mq.edu.au/help/.
When using the University's IT, you must adhere to the Acceptable Use Policy. The policy applies to all who connect to the MQ network including students.
Graduate Capabilities
PG - Discipline Knowledge and Skills
Our postgraduates will be able to demonstrate a significantly enhanced depth and breadth of knowledge, scholarly understanding, and specific subject content knowledge in their chosen fields.
This graduate capability is supported by:
Learning outcomes
- Characterize major international trade theories to explain alternative patterns of trade.
- Examine international trade instruments, and articulate arguments for and against protectionism.
- Evaluate the impact of major trade issues on countries with a focus on the tradeoffs between efficiency and equity.
- Recorgnize how changes in the terms of trade and economic growth affect the welfare of nations engaged in international trade.
Assessment tasks
- Assignment 1
- Review Essay
- Assignment 2
- Online Test
PG - Critical, Analytical and Integrative Thinking
Our postgraduates will be capable of utilising and reflecting on prior knowledge and experience, of applying higher level critical thinking skills, and of integrating and synthesising learning and knowledge from a range of sources and environments. A characteristic of this form of thinking is the generation of new, professionally oriented knowledge through personal or group-based critique of practice and theory.
This graduate capability is supported by:
Learning outcomes
- Characterize major international trade theories to explain alternative patterns of trade.
- Examine international trade instruments, and articulate arguments for and against protectionism.
- Evaluate the impact of major trade issues on countries with a focus on the tradeoffs between efficiency and equity.
- Recorgnize how changes in the terms of trade and economic growth affect the welfare of nations engaged in international trade.
Assessment tasks
- Assignment 1
- Review Essay
- Assignment 2
- Online Test
PG - Research and Problem Solving Capability
Our postgraduates will be capable of systematic enquiry; able to use research skills to create new knowledge that can be applied to real world issues, or contribute to a field of study or practice to enhance society. They will be capable of creative questioning, problem finding and problem solving.
This graduate capability is supported by:
Learning outcomes
- Examine international trade instruments, and articulate arguments for and against protectionism.
- Evaluate the impact of major trade issues on countries with a focus on the tradeoffs between efficiency and equity.
Assessment tasks
- Review Essay
- Assignment 2