International Trade And Logistics

Subject Code:

ECO803

Subject Aim:

The underlying aim of this subject is to offer you basic understanding of the theory and practice of international trade and banking. The subject focuses on both theoretical underpinning and empirical contributions. To achieve this, the subject first examines theoretical and contemporary issues such as gains from trade, comparative advantage, various forms of trade restrictions and trading blocks. It then extends to the practical issues such as balance of payment, international monetary policy, exchange rate markets and international baking. The distinct set of risks faced by participants in international trade is also examined. In addition, the subject provides you with ample opportunity to develop your presentation, communication and interpersonal skills through tutorial group discussions, class room debate and research assignment. This subject also contributes to your international and cross-cultural understanding, as local and overseas students work together in various group activities and projects in various business and real world like settings.

Learning Outcomes:

  1. Understand the main tenets and consequences of economic globalisation and international trade.
  2. Understand and evaluate basic international trade models using economics concepts such as absolute advantage, comparative advantage, production possibility frontier, welfare loss and equilibrium.
  3. Understand and evaluate the rationale behind tariff and various other non-tariff barriers, analyse their anticipated welfare costs and other related issues.
  4. Understand and analyse operations of foreign exchange markets and apply the basic principles and techniques to determine or predict exchange rates.
  5. Understand terms such as ‘balance of payments’ and ‘current accounts’ and evaluate different approaches to measuring them.
  6. Understand and evaluate the fundamentals of the international monetary system and international banking practices, including related notions such as international debt and country-specific risk factor.

 

Student Assessment:

Exams will take place in weeks 15 & 16. Please refer to the official Exam Timetable for further information.

See instructions on the subject Moodle site (Week O Assessments).