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International Trade (ECON40003)

HonoursPoints: 12.5On Campus (Parkville)

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Overview

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Semester 2
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Topics include determinants of the patterns of trade and the gains from trade; the analytics of the instruments of trade policy under different market structures; the political economy of trade policy; the economics of preferential trade agreements; and the role of the World Trade Organisation.

Intended learning outcomes

On successful completion of this subject students should be able to:



  • Explain why countries engage in international trade;
  • Analyse the causes and consequences of international trade;
  • Synthesise the theoretical and empirical literature and describe the current state of knowledge in the field of international trade;
  • Analyse the welfare effects of various trade policies under different industry structures, such as monopolies, oligopolies and monopolistic competition;
  • Evaluate the welfare effects of trade and industry policies under various trading regimes (regional trading blocs vs multilateralism);
  • Critically evaluate the income and distributional effects of various trade policies.

Generic skills

  • High level of development: written communication; application of theory to practice; critical thinking; receptiveness to alternative ideas.

  • Moderate level of development: interpretation and analysis.

  • Some level of development: oral communication; problem solving.

Last updated: 3 November 2022