Not currently offered
Credit points: 15
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
Subject Co-ordinatorJoanna Poyago-Theotoky
Available to Study Abroad StudentsYes
Subject year levelYear Level 4 - UG/Hons/1st Yr PG
Prerequisites ECO2CFC or ECO2MIT
|Resource Type||Title||Resource Requirement||Author and Year||Publisher|
|Readings||International trade: theory and evidence||Prescribed||Markusen, 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
02. Identify sources of gains from trade and its distribution
03. Identify the conditions under which no trade takes place (no-trade conditions)
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
05. Understand tools of trade policy and its welfare implication.
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.
07. Describe data required for modelling of international trade
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