Students

ECON847 – International Trade

2018 – S1 Day

General Information

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Unit convenor and teaching staff Unit convenor and teaching staff Unit Convenor & Lecturer
Dr Sunny Shin
sunny.shin@mq.edu.au
E4A 426
TBA on iLearn
Credit points Credit points
4
Prerequisites Prerequisites
ECON632 or ECON633 or ECON649
Corequisites Corequisites
Co-badged status Co-badged status
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.

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:

  • Be conversant with major international trade theories.
  • Understand and appreciate current major world trade and policy issues.
  • Appreciate the impact of major trade issues on countries with a focus on the tradeoffs between efficiency and equity.
  • Critically analyse, compare and examine the motives behind trade disputes.

Assessment Tasks

Name Weighting Hurdle Due
Presentation 10% No Weekly
Class Test 20% No Week 7
Assignment 20% No 3pm Friday 18th May (Week 10)
Final Exam 50% No University Examination Period

Presentation

Due: Weekly
Weighting: 10%

In week 1, groups of 3-4 students will be formed. Students are required to stick to your group for the whole semester. Each week, starting from week 2 during the workshop, each group will be given a question to discuss and then an individual from the group will present their resultant answer/explanation to the class. Each student is expected to present once or twice throughout the semester and will be assessed based on effort and the quality of his/her presentation.
On successful completion you will be able to:
  • Be conversant with major international trade theories.
  • Understand and appreciate current major world trade and policy issues.
  • Appreciate the impact of major trade issues on countries with a focus on the tradeoffs between efficiency and equity.

Class Test

Due: Week 7
Weighting: 20%

The class test will be held in week 7 and will include short-answer and long-answer questions based on lecture topics covered in weeks 1-6. It will be of 80 minutes duration. It may include calculations and diagrammatical illustrations. Further details will be provided in due course. 

Students are allowed to bring in one A4 sheet of hand-written or printed notes (double-sided).

Failure to attend the class test will result in a mark of zero. Exceptions will be only made if an application for Special Consideration is made and approved. For further details, see the University's Special Consideration policy: https://staff.mq.edu.au/work/strategy-planning-and-governance/university-policies-and-procedures/policies/special-consideration. 
On successful completion you will be able to:
  • Be conversant with major international trade theories.
  • Understand and appreciate current major world trade and policy issues.

Assignment

Due: 3pm Friday 18th May (Week 10)
Weighting: 20%

The assignment will include application/discussion questions regarding current trade issues related to the trade-off between efficiency and equity. Students will be provided with a set of academic/news articles. Further details will be provided before the mid-session break.

Students will have to complete and submit the assignment online by 3pm Friday 18th May through Turnitin on the ECON847 iLearn website. 

Late submission will receive a deduction of 10% of the total marks for each 24-hour period that the submission is late (for example, 25 hours late in submission - 20% penalty). Submissions will not be accepted beyond 72 hours past the deadline. This penalty does not apply if an application for Special Consideration is made and approved. For further details, see the University's Special Consideration policy: https://staff.mq.edu.au/work/strategy-planning-and-governance/university-policies-and-procedures/policies/special-consideration. 

Important Notice: Any student whose submission is not his/her own work will be automatically 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. Students should be aware that Turnitin will be used to determine the originality of the submitted work. Students are also expected to be familiar with the University's Academic Honesty Policy: https://staff.mq.edu.au/work/strategy-planning-and-governance/university-policies-and-procedures/policies/academic-honesty.
On successful completion you will be able to:
  • Be conversant with major international trade theories.
  • Understand and appreciate current major world trade and policy issues.
  • Appreciate the impact of major trade issues on countries with a focus on the tradeoffs between efficiency and equity.
  • Critically analyse, compare and examine the motives behind trade disputes.

Final Exam

Due: University Examination Period
Weighting: 50%

The final exam will be held during the university examination period. Note that it is students' responsibility to find out the date, time and location of the final exam for ECON847.

The final exam will include short-answer and long-answer questions based on all topics covered throughout the semester. It will be of 2 hours duration. It may include calculations and diagrammatical illustrations. Further details will be provided in due course. 

Students are allowed to bring in one A4 sheet of hand-written or printed notes (double-sided).

Failure to attend the final exam will result in a mark of zero. Exceptions will be only made if an application for Special Consideration is made and approved. For further details, see the University's Special Consideration policy: https://staff.mq.edu.au/work/strategy-planning-and-governance/university-policies-and-procedures/policies/special-consideration. 

Importance Notice: It is Macquarie University Policy to not schedule any final examinations before the official examination period. Therefore, DO NOT organise any travel within the official examination period as all requests will be rejected.
On successful completion you will be able to:
  • Be conversant with major international trade theories.
  • Understand and appreciate current major world trade and policy issues.
  • Critically analyse, compare and examine the motives behind trade disputes.

Delivery and Resources

Each week there will be a three-hour face-to-face session. Each session will typically consist of a two-hour lecture and an hour workshop. It is strongly recommended that all students attend lectures and workshops. For time and location, please check the university timetable: http://students.mq.edu.au/student_admin/timetables.

Lecture slides will be posted on iLearn prior to each week's lecture. For topics to be covered, see the unit schedule below. Students are required to read each week's reading material.

Workshop questions will be provided during the workshops and posted on iLearn afterwards. Students will discuss these questions with their group members and present their discussion results. See 'Assessment Task: Presentation' above for details. Answers to these questions will be provided only during the face-to-face workshop. Additional readings may be provided on iLearn prior to the workshop in order to enhance the quality of discussion.

Prescribed Textbook: 

  • Pugel, Thomas A. (2014), International Economics, 16th ed., McGraw-Hill

Other Recommended Textbooks:

  • Krugman, P, Obstfeld, M., and Melitz, M. (2015) International Economics: Theory & Policy, 10th ed., Pearson.
  • Salvatore, Dominick (2012), Introduction to International Economics, 3rd ed., Wiley.
  • Gerber, James (2014), International Economics, 6th ed., Pearson.
  • Husted, S. and Melvin, J. (2013), International Economics, 9th ed., Pearson.

Useful Websites:

Unit Schedule

All chapter numbers relate to the prescribed textbook. See ‘Delivery and Resources’.

  • Weeks 1-3 | Trade Theories | Ch 2-6
    • Basic Theory Using Demand and Supply
    • Ricardian Model
    • Heckscher-Ohlin Model
    • New Trade Theory
  • Weeks 4-6 | Trade Policies | Ch 8-9,11
    • International Trade Regime
    • Tariff Barriers
    • Non-Tariff Barriers
  • Week 7 | Class Test
  • Week 8 | Protectionism | Ch 10-11
  • Week 9 | Trade and Development | Ch 7, 14
  • Week 10 | Trade and Global Economy | Ch 13 and other sources*
  • Week 11 | Trade Blocs | Ch 12
  • Week 12 | International Factor Movement | Ch 15
  • Week 13 | Revision

* Other sources will be provided in due course.

Policies and Procedures

Macquarie University policies and procedures are accessible from Policy Central (https://staff.mq.edu.au/work/strategy-planning-and-governance/university-policies-and-procedures/policy-central). Students should be aware of the following policies in particular with regard to Learning and Teaching:

Undergraduate students seeking more policy resources can visit the Student Policy Gateway (https://students.mq.edu.au/support/study/student-policy-gateway). It is your one-stop-shop for the key policies you need to know about throughout your undergraduate student journey.

If you would like to see all the policies relevant to Learning and Teaching visit Policy Central (https://staff.mq.edu.au/work/strategy-planning-and-governance/university-policies-and-procedures/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/study/getting-started/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://www.mq.edu.au/about_us/offices_and_units/information_technology/help/. 

When using the University's IT, you must adhere to the Acceptable Use of IT Resources 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

  • Be conversant with major international trade theories.
  • Understand and appreciate current major world trade and policy issues.
  • Appreciate the impact of major trade issues on countries with a focus on the tradeoffs between efficiency and equity.
  • Critically analyse, compare and examine the motives behind trade disputes.

Assessment tasks

  • Presentation
  • Class Test
  • Assignment
  • Final Exam

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

  • Be conversant with major international trade theories.
  • Understand and appreciate current major world trade and policy issues.
  • Appreciate the impact of major trade issues on countries with a focus on the tradeoffs between efficiency and equity.
  • Critically analyse, compare and examine the motives behind trade disputes.

Assessment tasks

  • Presentation
  • Class Test
  • Assignment
  • Final Exam

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

  • Be conversant with major international trade theories.
  • Understand and appreciate current major world trade and policy issues.
  • Appreciate the impact of major trade issues on countries with a focus on the tradeoffs between efficiency and equity.
  • Critically analyse, compare and examine the motives behind trade disputes.

Assessment tasks

  • Presentation
  • Class Test
  • Assignment
  • Final Exam

Changes since First Published

Date Description
28/02/2018 Regarding Presentation, students are expected to present once or twice, not three times, throughout the session.