ECF3121 Economics of international trade
Faculty of Business and Economics
ECF3121 Economics of international trade is a level 3, 6-credit-point, undergraduate unit from the Faculty of Business and Economics, offered in 2021 in Semester 2 at Caulfield. It needs (ECB1102, ECF1200, ECW1102 or ECC1100) and (ECF2731, ECW2731, ECB2731 or ECC2000).
- Credit points
- 6
- Offered in 2021
- Semester 2
- Caulfield
- Assessment
- Exam 60%
- and 1 other task
- Workload
- 144 hours
- per semester
This is the 2021 handbook entry. See the 2027 entry.
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Requisites
Before ECF3121
Prerequisites
Pass these before you enrol.
Prohibitions
You can't enrol if you have passed any of these.
After ECF3121
No unit lists ECF3121 as a prerequisite in the 2021 handbook.
Enrolment rules
To be successful in this unit, background knowledge and application of maths is required at the equivalent of VCE Year 12 Higher level. You may have satisfied this by completing relevant prerequisite unit/s, or you have covered relevant topics in your final years of secondary study. You should self-assess your maths competency prior to enrolling in this unit.
Equivalent units
The same content under another code. Only one of them counts.
Overview
This unit aims to deepen your understanding of globalisation with a particular focus on international trade. The unit begins by describing historical global patterns of international trade, investment and migration. It turns to the question of why countries engage in international trade. In answer, it covers the main theories of international trade that show how differences in technology or resources can create opportunities for mutually beneficial gains from trade. Within these theories, the unit provides insights into the relationship between trade and inequality within and across countries. Then the unit analyses the effects of tariffs, quotas and other policy instruments on welfare. Finally, the unit considers the effect of international agreements on countries’ welfare, labour and environmental standards.
Offerings in 2021
| Teaching period | Campus | Mode |
|---|---|---|
| Second semester | Caulfield | On campus |
Assessment
- Within semester assessment40%
- ExaminationThreshold hurdle60%
Learning outcomes
When you finish this unit, you should be able to:
- 1
understand why countries engage in international trade
- 2
explain the main determinants of a country’s trade
- 3
explain that there are gains from trade that are unevenly distributed across and within countries
- 4
understand the welfare consequences of trade policy
- 5
understand and analyse data on countries’ international trade
- 6
be more critical in your assessment of current debates over globalisation.
Workload and teaching
- Lectures22 hours
- Tutorials12 hours
- Teaching approachOnline learning
Minimum total expected workload to achieve the learning outcomes for this unit is 144 hours per semester typically comprising a mixture of scheduled learning activities and independent study. Independent study may include associated readings, assessment and preparation for scheduled activities. The unit requires on average three/four hours of scheduled activities per week. Scheduled activities may include a combination of teacher directed learning, peer directed learning and online engagement.
Learning resources
Technology resources
The only Faculty approved calculators permitted in tests and examinations for all Australian campuses and locations is the HP10bII+ or Casio FX82 (any suffix).
Where it fits
ECF3121 is part of 1 area of study in the 2021 handbook.
Contacts
- Chief Examiners
- Dr Laura Puzzello
Common questions
What are the prerequisites for ECF3121?
You need (ECB1102, ECF1200, ECW1102 or ECC1100) and (ECF2731, ECW2731, ECB2731 or ECC2000) before you enrol. Enrolment rules also apply.
When is ECF3121 offered?
In 2021, ECF3121 runs in Semester 2 at Caulfield.
How much work is ECF3121?
The handbook expects about 144 hours of study across the semester. No students have rated its difficulty yet.
Does ECF3121 have an exam?
Yes. The exam is worth 60% of the final mark, alongside 1 other task.
Which majors and minors include ECF3121?
ECF3121 is part of Economics and business strategy.