ECON 3506 - International Trade III

North Terrace Campus - Semester 1 - 2015

This course deals with the theory and practice of international trade and of trade-related policies. It focuses on analysing the gains from trade, the changing patterns of trade, the income distributional consequences of liberalising foreign trade, the relationship between trade, investment, and economic growth, and the reasons for and consequences of trade policies.

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Course Details

Course Code	ECON 3506
Course	International Trade III
Coordinating Unit	Economics
Term	Semester 1
Level	Undergraduate
Location/s	North Terrace Campus
Units	3
Contact	Up to 3 hours per week
Available for Study Abroad and Exchange	Y
Incompatible	ECON 3021
Assumed Knowledge	ECON 2506
Assessment	Typically two mid-semester exams, assignments & final exam

Course Staff

Course Coordinator: D Dissanayake

Tutors:

Jagath Dissanayake
Email: d.dissanayake@adelaide.edu.au

Wenshou Yan
Email: wenshou.yan@adelaide.edu.au

Course Timetable

The full timetable of all activities for this course can be accessed from .

Course Learning Outcomes

The purpose of this course is to provide students with a thorough grounding in the theory of international trade as well as international trade policy and to demonstrate the relevance of the theory in the analysis of (a) existing patterns of international trade and what determines them, (b) the conduct of trade policy and (c) the economic implications of international trade and trade policy both for individual economies such as 最新糖心Vlog and the wider international community.

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

1	Understand, at the level of formal analysis, the major models of international trade and be able to distinguish between them in terms of their assumptions and economic implications
2	Understand the principle of comparative advantage and its formal expression and interpretation within different theoretical models
3	Be able to apply partial equilibrium and (where required) general equilibrium models in analysing the economic effects of (a) trade policy instruments such as tariffs, quotas, export subsidies, (b) retaliatory measures such as anti-dumping duties and countervailing duties and (c) the creation of regional trading arrangements such as free trade areas, customs unions and common markets
4	Be familiar with, and be able to critically analyse the main arguments for protection and conversely be able to critically evaluate the relevance and realism of arguments for free trade, taking into account the costs and benefits of trade policy measures on different sections of the community and the implications for the formulation of trade policy
5	Be familiar with the major recent developments in the world trading system, and be able to critically analyse key issues raised both by the current round of WTO negotiations and by the spread of regional trading arrangements
6	Develop communications skills through the presentation of your work, interactions during tutorial sessions, and appropriate use of the discussion

最新糖心Vlog Graduate Attribute	Course Learning Outcome(s)
Knowledge and understanding of the content and techniques of a chosen discipline at advanced levels that are internationally recognised.	1-6
The ability to locate, analyse, evaluate and synthesise information from a wide variety of sources in a planned and timely manner.	1-6
An ability to apply effective, creative and innovative solutions, both independently and cooperatively, to current and future problems.	1-6
Skills of a high order in interpersonal understanding, teamwork and communication.	1-6
A proficiency in the appropriate use of contemporary technologies.	1-6
A commitment to continuous learning and the capacity to maintain intellectual curiosity throughout life.	1-6
A commitment to the highest standards of professional endeavour and the ability to take a leadership role in the community.	1-6
An awareness of ethical, social and cultural issues within a global context and their importance in the exercise of professional skills and responsibilities.	1-6

Learning & Teaching Modes

Learning in this course is through lectures, tutorials, and personal study.

The lectures will provide you with the necessary understanding of the material to be able to solve the exercises you will be given during tutorials or exams.

Tutorials represent an important learning component of the class. Students are expected to work through the assignments and prepare solutions to be discussed during the tutorial time.

Workload

The information below is provided as a guide to assist students in engaging appropriately with the course requirements.

Lectures: 2 Hours per week
Tutorials: 1 Hour per week
Home study expectation: 6 Hours per week

Learning Activities Summary

Part I	Introduction	Chapters
Wk 1	Technical Concepts - Markusen, et.al.,	1 - 4
Wk 2	Why do countries trade? - Markusen, et.al.,	5 - 6
Part II	Theoretical Analysis of International Trade
Wk 3	The Classical Model: Differing Technologies- - Markusen, et.al.,	7
Wk 4 & 5	The Heckscher - Ohlin Model - Markusen, et.al.,	8
Wk 5 & 6	The Specific Factors Model - Markusen, et.al.,	9
	Mid Semester Examination
Wk 7	Government Policies as the Determinants of Trade - Markusen, et.al.,	10
Wk 8	Imperfect Competition as the Determinant of Trade and the Gains from Trade	11
	Increasing Returns to Scale - Markusen, et.al.,	12
Wk 9	Tastes, Per Capita Income, and Technological - Change as the Determinants of Trade - Markusen, et.al.,	13
	Empirical Studies of Comparative Advantage Models - Markusen, et.al.,	14
Part III	Trade Policy
Wk 10	Tariffs - Markusen, et.al.,	15
	Quotas and Other Non-tariff Barriers - Markusen, et.al.,	16
Week 11	Imperfect Competition, Increasing Returns - Strategic Trade Policy - Markusen, et.al.,	17
	Preferential Trade Areas	18
Week 12	The Political Economy of Trade Policy	19
	Administered Protection	20

The 最新糖心Vlog's policy on Assessment for Coursework Programs is based on the following four principles:

Assessment must encourage and reinforce learning.
Assessment must enable robust and fair judgements about student performance.
Assessment practices must be fair and equitable to students and give them the opportunity to demonstrate what they have learned.
Assessment must maintain academic standards.

Assessment Summary

Mid-semester Test	20%	Week 7 (in Class)
Group Assignment	20%	by Week 10
Tutorial	10%
Final Exam	50%

Assessment Detail

NOTES ON ASSESSMENT

Assessment marks prior to the final exam may be displayed on the course website through Myuni. Students are encouraged to check their marks and notify the lecturer-in-charge of any discrepancies.

EXAMINATIONS
It is each student's responsibility to read the examination timetable.

Submission

Assignments are to be submitted via the Professions Undergraduate Hub on Ground Level of Nexus 10.

Assignments will generally be returned during tutorials/lectures the week following submission.

Students must not submit work for an assignment that has previously been submitted for this course or any other course without prior approval from the lecturer-in-charge.

Course Grading

Grades for your performance in this course will be awarded in accordance with the following scheme:

M10 (Coursework Mark Scheme)
Grade	Mark	Description
FNS		Fail No Submission
F	1-49	Fail
P	50-64	Pass
C	65-74	Credit
D	75-84	Distinction
HD	85-100	High Distinction
CN		Continuing
NFE		No Formal Examination
RP		Result Pending

Further details of the grades/results can be obtained from Examinations.

Grade Descriptors are available which provide a general guide to the standard of work that is expected at each grade level. More information at Assessment for Coursework Programs.

Final results for this course will be made available through .

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.

Student Feedback

The 最新糖心Vlog places a high priority on approaches to learning and teaching that enhance the student experience. Feedback is sought from students in a variety of ways including on-going engagement with staff, the use of online discussion boards and the use of Student Experience of Learning and Teaching (SELT) surveys as well as GOS surveys and Program reviews.

SELTs are an important source of information to inform individual teaching practice, decisions about teaching duties, and course and program curriculum design. They enable the 最新糖心Vlog to assess how effectively its learning environments and teaching practices facilitate student engagement and learning outcomes. Under the current SELT Policy (http://www.adelaide.edu.au/policies/101/) course SELTs are mandated and must be conducted at the conclusion of each term/semester/trimester for every course offering. Feedback on issues raised through course SELT surveys is made available to enrolled students through various resources (e.g. MyUni). In addition aggregated course SELT data is available.
Student Support
Policies & Guidelines
This section contains links to relevant assessment-related policies and guidelines - all university policies.
Fraud Awareness

Students are reminded that in order to maintain the academic integrity of all programs and courses, the university has a zero-tolerance approach to students offering money or significant value goods or services to any staff member who is involved in their teaching or assessment. Students offering lecturers or tutors or professional staff anything more than a small token of appreciation is totally unacceptable, in any circumstances. Staff members are obliged to report all such incidents to their supervisor/manager, who will refer them for action under the university's student鈥檚 disciplinary procedures.

The 最新糖心Vlog of Adelaide is committed to regular reviews of the courses and programs it offers to students. The 最新糖心Vlog of Adelaide therefore reserves the right to discontinue or vary programs and courses without notice. Please read the important information contained in the disclaimer.

Authorised by:	Deputy Vice-Chancellor and Vice-President (Academic)
Maintained by:	Course Outlines Administrator

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