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Research School of Economics · ANU College of Business and Economics
This course involves on campus teaching. For students unable to come to campus there will be a remote option. See the Class Summary for more details. Why do countries trade with each other? How, why and by whom is international trade regulated? What are the welfare consequences of international trade? How does international trade affect individual firms, consumers, workers and industries? Why do some firms decide to export but not others? What is the impact of government policies on trade and welfare, and what are the best policies? Is a tariff war “easy to win”? What are the welfare effects of preferential trading arrangements between countries? What does the WTO do? What determines currency exchange rates and is a low or high dollar a good thing? Is monetary and fiscal policy more or less effective in an open economy than in a closed one? These are some of the questions we might consider in this class. We will also examine the gains from trade, the determinants of patterns of international trade and the effects of trade on income distribution, all in low-dimensional models. We then turn to policy and analyse a number of arguments, both traditional and more recent, for active trade and industrial policies. We will also consider a selection of other topics in international trade.
Assessment will be based on a combination of Problem Sets, quizzes, a class presentation, a midterm exam, a final exam and participation in online and in-class exercises, where not all of these elements will necessarily receive a non-zero weight in any given semester.
Students in this class will share two lectures and a tutorial per week with ECON3103 and a further lectorial per week. Students are expected to spend roughly 10 hours a week on this course, on average across the semester.
see Class Summary and Wattle site