BUSN3056 International Trade

This topic examines the various causes of countries' trade patterns, and what benefits might flow from international trade. The consequences of a range of government interventions in trade, including export promotion and tariff and quantitative measures to restrict imports, are explored. The development of the World Trade Organisation and its code of conduct for national trade policies are described. Current examples of discriminatory free trade agreements and their economic consequences are discussed. Reference to current trade policy issues affecting Australia will be made throughout the topic.

This topic aims to provide students with skills relevant to an understanding of the causes and effects of both inter-industry and intra-industry trade, and to the assessment of the various forms of government intervention in trade, including export promotion, tariffs and non-tariff barriers to imports and discriminatory regional trade agreements. The development of the World Trade Organisation and its code of conduct for national trade policies will be discussed. Reference to current trade policy issues affecting Australia will be made throughout the topic.

1. Identify the major explanations of why countries engage in international trade and how countries may benefit from that trade
2. Assess the effects of the various forms of government intervention in trade
3. Describe the development of the World Trade Organisation and its role in the multilateral trading system
4. Evaluate the impact of regional free trade agreements
5. Research a current applied trade policy issue, and report effectively in written form