This unit studies the principles of international trade and their application to the Australian economy. This unit aims to give students a comprehensive knowledge of current issues in international trade and provide the tools for thinking about policy responses to these issues.

Learning outcomes

After successful completion of this unit, students will be able to:
1. Explain the different theories of international trade and the assumptions underpinning each of them;

2. Demonstrate the impacts that different trade policies will have on both overall welfare and income distribution; and
3. Demonstrate the effects of macroeconomic policies in an economy that is open to international trade flows.

Graduate attributes

1. UC graduates are professional - communicate effectively
1. UC graduates are professional - use creativity, critical thinking, analysis and research skills to solve theoretical and real-world problems
2. UC graduates are global citizens - adopt an informed and balanced approach across professional and international boundaries
2. UC graduates are global citizens - think globally about issues in their profession
3. UC graduates are lifelong learners - adapt to complexity, ambiguity and change by being flexible and keen to engage with new ideas
3. UC graduates are lifelong learners - reflect on their own practice, updating and adapting their knowledge and skills for continual professional and academic development
1. UC graduates are professional - employ up-to-date and relevant knowledge and skills
1. UC graduates are professional - display initiative and drive, and use their organisation skills to plan and manage their workload
1. UC graduates are professional - take pride in their professional and personal integrity

Prerequisites

11175 Introduction to Economics.

Corequisites

None.

Incompatible units

None.

Equivalent units

6408 International Economics.

Assumed knowledge

Some Microeconomics and Macroeconomics as covered in Introduction to Economics.