This subject offers a broad understanding of international trade issues and policy. The impact of protectionist instruments and the role of international agreements and organisations in moderating protectionist behaviour are examined using economic theory. The history of Australian protectionism will be used as an example to illustrate how attitudes to protectionism can evolve over time. This example will illustrate that a national mindset, as well as self-interest, influences the formation and evolution of policy. The effects of various trade and investment policies on developing countries is also explored.
|Faculty||Bond Business School|
1. Explain the concept of comparative advantage and how it can be used to counteract mercantilism and other populist protectionist notions.
2. Explain the Heckscher-Ohlin, Specific Factors, and Imperfect Competition models of international trade and the implications of each.
3. Apply appropriate economic theory to analyse different trade policies and their political economy considerations.
4. Explain the role of the WTO and preferential trade agreements.
5. Demonstrate knowledge of how trade and investment policies affect developing countries.
Assumed knowledge is the minimum level of knowledge of a subject area that students are assumed to have acquired through previous study. It is the responsibility of students to ensure they meet the assumed knowledge expectations of the subject. Students who do not possess this prior knowledge are strongly recommended against enrolling and do so at their own risk. No concessions will be made for students’ lack of prior knowledge.
Assumed Prior Learning (or equivalent):