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ECON8047 – International Trade

2021 – Session 1, Fully online/virtual

Notice

As part of Phase 3 of our return to campus plan, most units will now run tutorials, seminars and other small group activities on campus, and most will keep an online version available to those students unable to return or those who choose to continue their studies online.

To check the availability of face-to-face and online activities for your unit, please go to timetable viewer. To check detailed information on unit assessments visit your unit's iLearn space or consult your unit convenor.

General Information

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Unit convenor and teaching staff Unit convenor and teaching staff Lecturer
Cong Wang
Contact via Email
E4A-444
Credit points Credit points
10
Prerequisites Prerequisites
ECON632 or ECON6032 or ECON633 or ECON6033 or ECON649 or ECON6049 or ECON991 or ECON8091 or MGNT603 or ACCG6003 or MGNT809 or MGMT8009
Corequisites Corequisites
Co-badged status Co-badged status
Unit description Unit description

This unit examines international trade both in theory and practice. It aims to provide students with an understanding of major trade issues around the world and the effects of globalisation on international trade in general. The unit is taught in two parts. Firstly, it reviews theories related to inter- and intra-industry trade and the relevant empirical evidence. Secondly, the unit discusses trade policies, covering a wide range of topics, illustrated by theories as well as historical and contemporary data and cases.

Important Academic Dates

Information about important academic dates including deadlines for withdrawing from units are available at https://students.mq.edu.au/important-dates

Learning Outcomes

On successful completion of this unit, you will be able to:

  • ULO1: Distinguish between major trade theories and policy measures.
  • ULO2: Apply trade concepts and theories to trade-related issues and evaluate their impact on stakeholders.
  • ULO3: Evaluate the impact of trade-related issues with a specific focus on the trade-offs between efficiency and equity.

Assessment Tasks

Name Weighting Hurdle Due
Online Discussion 10% No Weekly
Assignment 30% No Friday, Week 10
Online Test 1 20% No Week 7
Online Test 2 40% No Week 13

Online Discussion

Assessment Type 1: Participatory task
Indicative Time on Task 2: 10 hours
Due: Weekly
Weighting: 10%

 

Five online discussions will be held throughout the session, where students are expected to post a 500 word discussion summary on iLearn.

 


On successful completion you will be able to:
  • Distinguish between major trade theories and policy measures.
  • Apply trade concepts and theories to trade-related issues and evaluate their impact on stakeholders.

Assignment

Assessment Type 1: Case study/analysis
Indicative Time on Task 2: 30 hours
Due: Friday, Week 10
Weighting: 30%

 

The assignment will include application/discussion questions regarding a specific trade issue related to the trade-off between efficiency and equity.

 


On successful completion you will be able to:
  • Distinguish between major trade theories and policy measures.
  • Apply trade concepts and theories to trade-related issues and evaluate their impact on stakeholders.
  • Evaluate the impact of trade-related issues with a specific focus on the trade-offs between efficiency and equity.

Online Test 1

Assessment Type 1: Quiz/Test
Indicative Time on Task 2: 20 hours
Due: Week 7
Weighting: 20%

 

The Online Test 1 will take place in week 7 and will include short-answer and long-answer questions based on lecture topics covered in weeks 1-6.

 


On successful completion you will be able to:
  • Distinguish between major trade theories and policy measures.
  • Apply trade concepts and theories to trade-related issues and evaluate their impact on stakeholders.

Online Test 2

Assessment Type 1: Quiz/Test
Indicative Time on Task 2: 30 hours
Due: Week 13
Weighting: 40%

 

The Online Test 2 will take place in week 13 and will include short-answer and long-answer questions based on all topics covered throughout the session.

 


On successful completion you will be able to:
  • Distinguish between major trade theories and policy measures.
  • Apply trade concepts and theories to trade-related issues and evaluate their impact on stakeholders.

1 If you need help with your assignment, please contact:

  • the academic teaching staff in your unit for guidance in understanding or completing this type of assessment
  • the Learning Skills Unit for academic skills support.

2 Indicative time-on-task is an estimate of the time required for completion of the assessment task and is subject to individual variation

Delivery and Resources

Each week, there will be a pre-recorded lecture posted on the unit iLearn page, along with the lecture slides. Starting in Week 2, we will also discuss questions regarding the lecture topics from the previous week. In preparation, students are required to read each week's reading material. Students will discuss these questions with their group and submit their discussion results on iLearn. Answers to these questions will be available in the following week. There may be additional readings in order to assist students in discussing these questions.

Unit iLearn

Material for the unit, such as lecture recordings and slides, will be available to students on the unit iLearn site at http://ilearn.mq.edu.au. Students are strongly encouraged to check the unit iLearn page weekly for announcements as well as the unit schedule, additional readings, assessment information, and discussion questions and answers.

Prescribed Textbook:

• Feenstra, Robert C. and Taylor, Alan M. (2017), International Trade, 4e, Worth Publishers Other

Recommended Textbooks:

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

• Krugman, P., Obstfeld, M., and Melitz, M. (2017) International Economics: Theory & Policy, 11th ed., 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

• Organization 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

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:

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/admin/other-resources/student-conduct

Results

Results published on platform other than eStudent, (eg. iLearn, Coursera etc.) 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 or if you are a Global MBA student contact globalmba.support@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 help you improve your marks and take control of your study.

The Library provides online and face to face support to help you find and use relevant information resources. 

Student Enquiry Service

For all student enquiries, visit Student Connect at ask.mq.edu.au

If you are a Global MBA student contact globalmba.support@mq.edu.au

Equity 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.

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.