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|
|Study abroad||Available to Study Abroad students|
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.
Students must have successfully completed ECON11-100 Principles of Economics or equivalent prior to undertaking ECON13-303.