International Trade (ECOS3006)

UNIT OF STUDY

This unit of study provides a systematic analysis of the theory of international trade and trade policy. Initially differences between countries are emphasised as the source of trade and the gains from trade. Models that are examined include the Classical-Ricardian model, the Heckscher-Ohlin model and the Specific-Factors model. Next economics of scale and imperfect competition are introduced as sources of trade and gains from trade. The unit concludes with an examination of empirical studies aimed at testing trade theories. The analysis of trade policy begins with a discussion of the instruments of trade policy, in particular, tariffs and quotas and their effect on welfare. This discussion is then extended to the case of imperfect competition and strategic trade policy.

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Further unit of study information

Classes

1x2-hr lecture/week, 1x1-hr tutorial/fortnight

Assessment

problem sets (5%), mid-semester test (35%) and 2hr final exam (60%)

Faculty/department permission required?

No

Unit of study rules

Prerequisites and assumed knowledge

(ECOS2001 or ECON2001) or (ECOS2901 or ECON2901)

Prohibitions

ECON3006

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Non-award/non-degree study

If you wish to undertake one or more units of study (subjects) for your own interest but not towards a degree, you may enrol in single units as a non-award student.

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Cross-institutional study

If you are from another Australian tertiary institution you may be permitted to underake cross-institutional study in one or more units of study at the University of Sydney.

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