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The aim of this course is to introduce students to a couple workhorse models of international trade.  Equipped with theoretical frameworks, students will have internally consistent frameworks to think through basic issues of international trade.  The course pays particular attention to explaining the reasons why countries engage in international trade and investment and how trade affects consumers, workers and firms. It provides students an overview of current trade and investment patterns and the world trade system. A key objective of this course is to provide students with the necessary tools so that they can analyze currently discussed issues in international economics and formulate and evaluate potential policies for the institutions and/or governments they may work for in the future.  As such, the course will involve some mathematics which will permit the development of theoretical models to eliminate any handwaving explanations.

On successful completion of this course, students should will be able to:

1	Explain the concept of comparative advantage.
2	Describe the essentials of trade theories.
3	Identify potential winners and losers from trade.
4	Explain comparative static results in several workhorse models of international trade.

Robert C. Feenstra, Alan M. Taylor (2021), International Trade (New York: Worth)
5th Edition. ISBN-13: 978-1-319-38286-5

Further Reading 

You are expected to read the textbook as well as the articles assigned in lectures or tutorials. The final exam can cover all lecture materials, assignments, and assigned readings.

Lecture slides and assignments will be made available through the course website .

The format of the teaching consists of formal lectures and tutorial sessions. The lectures introduce new concepts, encourage textbook revision, and provide anchor points for further academic development. In tutorials, students will discuss exercises from the assignments relating to the various trade theories and policies.  The course MyUni site will provide more details.

Students in this course are expected to attend all lectures throughout the semester plus tutorial classes. In addition, students should allocate 4-5 hours per week to undertake reading and individual study. The lecturer is available for one-on-one consultations at times to be arranged by mutual agreement. Consultations will be held in the lecturer’s designated room.

Topics:

1. Globalization - an introduction
2. Why do countries trade: The Ricardian Model of International Trade (Comparative Advantage)
3. Why do countries trade: The Heckscher-Ohlin Model of International Trade (Factor Endowments)
4. The Specific Factor Model: Rigidity in Factor Mobility

Note: This list of topics covered is tentative and may change.

None

Assessment Task	Task Type	Due	Weighting	Learning Outcome
Tutorial Problem Sets	Formative	weekly	10%	1-4
Active Participation	Formative	weekly	10%	1-4
Assignments	Formative & Summative	during the semester	30%	1-4
Final exam	Summative	Final exam period	50%	1-4
Total			100%

To gain a pass, a total of at least 50% overall must be obtained.

There will likely be two written assignments. Written assignment submissions should not exceed two pages in length with remaining details to be announced on the course MyUni site.

Those who fail to submit a written assessment by the due date must obtain documentation that satisfies university regulations in order to avoid a grade of zero on the assignment. An alternative assessment/reweighting will only be offered to those who obtain accepted documentation.

The final exam is expected to be three hours in duration.

Active Tutorial Participation: Participation in discussion of weekly problems from problem sets.

Problem Sets: Each student will submit weekly assignments over the duration of the semester.  Each student's best five submitted tutorial assignments will count towards their final grade with equal weighting across submitted assignments.

Please note that dictionaries are not allowed in School of Economics and Public Poilcy exams.

Legible hand-writing and the quality of English expression are considered to be integral parts of the assessment process, and may affect marks. Marks cannot be awarded for answers that cannot be read or understood.

See MyUni for further information on assessment details.

Submission of the assignments and problem sets are required as per instructions on MyUni.

Additional Assessment
If a student receives 45-49 for their final mark for the course they will automatically be granted an additional assessment. This will most likely be in the form of a new exam (Additional Assessment) and will have the same weight as the original exam unless an alternative requirement (for example a hurdle requirement) is stated in this semester’s Course Outline. If, after replacing the original exam mark with the new exam mark, it is calculated that the student has passed the course, they will receive 50 Pass as their final result for the course (no higher) but if the calculation totals less than 50, their grade will be Fail and the higher of the original mark or the mark following the Additional Assessment will be recorded as the final result.