INTERNATIONAL TRADE

ECO4ITR

Not currently offered

Credit points: 15

Subject outline

In this subject students are exposed to the dynamics of international trade, with emphasis on the theory of international trade. Students will be exposed to models of international trade, mostly in general equilibrium framework. On successful completion of this subject students should be able to comprehend dynamics, determinants and gains from trade under different scenarios and analyse public policy questions. The subject will also include a brief introduction to the political economy of trade policy, the operation of World Trade Organisation (WTO), as well as current policy issues in both the multilateral and bilateral spheres.

SchoolLa Trobe Business School

Credit points15

Subject Co-ordinatorJoanna Poyago-Theotoky

Available to Study Abroad StudentsYes

Subject year levelYear Level 4 - UG/Hons/1st Yr PG

Exchange StudentsYes

Subject particulars

Subject rules

Prerequisites ECO2CFC or ECO2MIT

Co-requisitesN/A

Incompatible subjectsN/A

Equivalent subjectsN/A

Special conditionsN/A

Readings

Resource TypeTitleResource RequirementAuthor and YearPublisher
ReadingsInternational trade: theory and evidencePrescribedMarkusen, J., Melvin, J., Kaempfer, W. and Maskus, K.MCGRAW-HILL 1995.

Graduate capabilities & intended learning outcomes

01. Explain the basic concepts used in trade theory analysis

Activities:
TBE

02. Identify sources of gains from trade and its distribution

Activities:
TBE

03. Identify the conditions under which no trade takes place (no-trade conditions)

Activities:
TBE

04. Demonstrate that when the no-trade conditions are violated trade may be possible and use standard models of international trade to explain its dynamics

Activities:
TBE`

05. Understand tools of trade policy and its welfare implication.

Activities:
TBE

06. Understand the basics of the debate on political economy of international trade, Free Trade Agreements, Customs Unions, and the World Trade Organization, and the role they play in international trade policy.

Activities:
TBE

07. Describe data required for modelling of international trade

Activities:
TBE

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