ECS3121 Economics of international trade
Faculty of Business and Economics
ECS3121 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 and Summer B at South Africa. It needs (ECS2731 or ECW2731) and (ECS2730 or ECW2730).
- Credit points
- 6
- Offered in 2021
- Semester 2, Summer B
- South Africa
- Assessment
- Exam 60%
- and 2 other tasks
- Workload
- 144 hours
- per semester
This is the 2021 handbook entry. See the 2022 entry.
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Requisites
Before ECS3121
Prerequisites
Pass these before you enrol.
Prohibitions
You can't enrol if you have passed any of these.
After ECS3121
No unit lists ECS3121 as a prerequisite in the 2021 handbook.
Equivalent units
The same content under another code. Only one of them counts.
Overview
The pure theory of international trade. Trade and income distribution, economic growth and changes in trade, bases for trade and gains from trade. Trade policy. Tariffs, quotas, subsidies, import discrimination and other national policies affecting trade. The foreign exchange market. Determination of exchange rates, the balance of payments, modern foreign exchange policies and the threat of unstable exchange rates. Regional trade agreements.
Offerings in 2021
| Teaching period | Campus | Mode |
|---|---|---|
| Second semester - South Africa | South Africa | On campus |
| Summer semester B | South Africa | Block on |
Assessment
- Individual Assessment15%
- Group Assessment25%
- ExaminationThreshold hurdle60%
Learning outcomes
When you finish this unit, you should be able to:
- 1
draw upon skills developed in micro and macroeconomics to enable students to understand and critically evaluate contemporary policy debates in international trade and finance
- 2
develop the ability to use powerful analytical tools to predict the impact of global economic, political and social policies on South Africa as a small open economy, as well as the broader African continent
- 3
recognise the positive welfare effects of worldwide unrestricted trade.
Workload and teaching
- Lectures144 hours
- Teaching approachActive 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.
Lecture and tutorials or problem classes
Three principles drive the teaching approaches in this unit:
Constructive Alignment: Learning is strategically aligned to achieve the learning outcomes, as demonstrated through the assessment. Through the weekly lessons you should see clear connections to the assessment program, and learning should be directly ransferrable to the assessment program.
Scaffolding: Starting from lower level learning, new knowledge and skills are progressively introduced adding complexity and connections, and expecting higher-order learning. Within each lesson, and across the unit, building upon early activities, you should see your knowledge and skills demonstrate higher capabilities.
Team-Based Learning: Learning is social and interactive, and best achieved through purposefully designed activities that include these interactions. Through your personally developed and shared learning activities you should develop, analyse, connect, synthesise, interpret, evaluate, justify… more than you could on your own.
Learning resources
Required resources
Dominick Salvatore (2014), International Economics: Trade and Finance, 11th (International Student Version), Wiley
Contacts
- Chief Examiners
- Ms Cynthia Bedwei-Majdoub
Common questions
What are the prerequisites for ECS3121?
You need (ECS2731 or ECW2731) and (ECS2730 or ECW2730) before you enrol.
When is ECS3121 offered?
In 2021, ECS3121 runs in Semester 2 and Summer B at South Africa.
How much work is ECS3121?
The handbook expects about 144 hours of study across the semester. No students have rated its difficulty yet.
Does ECS3121 have an exam?
Yes. The exam is worth 60% of the final mark, alongside 2 other tasks.