Unit rationale, description and aim
The purpose of this unit is to build on the knowledge students gained in ECON200 and further explore why countries trade, how such trade impacts a country's economy, the benefits of international trade to people and nations, and the effect of international trade institutions on trade policy. To do this, students will be introduced to more theories with which to understand and analyse international trade patterns, examine trade policies, analyse the determinants of exchange rates and financial crises and address topical issues of international economic interdependence between states.
It is important to study the theories International Trade as they can give students a deeper understanding of patterns of production, trade and investment across countries. This will then enable students to analyse in greater detail different trade policies between nations, the effects of regionalism, and the potential effects of multilateral trade negotiations conducted by World Trade Organisation (WTO).
The skills and tools learned in BUSN302 can be used in a wide range of careers including business, consultancy, government agencies and international institutions. Importantly, students will also enjoy the added ability to make sense of some of the most important and complex issues of our times.
Learning outcomes
To successfully complete this unit you will be able to demonstrate you have achieved the learning outcomes (LO) detailed in the below table.
Each outcome is informed by a number of graduate capabilities (GC) to ensure your work in this, and every unit, is part of a larger goal of graduating from ACU with the attributes of insight, empathy, imagination and impact.
Explore the graduate capabilities.
Examine how the world economy works and the major ...
Learning Outcome 01
Communicate and discuss knowledge of a variety of ...
Learning Outcome 02
Evaluate the international regulatory environment ...
Learning Outcome 03
Analyse major recent developments in the world tra...
Learning Outcome 04
Content
Topics will include:
- globalisation/international trade
- contribution of international trade to the common good
- comparative advantage
- the standard trade model
- communication in the international trade context
- political and legal environments
- tariffs and non-tariff trade barriers
- economic integration
- growth and development with trade
- international resource movements and MNCs
- Global Financial Crises and COVID impact
Assessment strategy and rationale
A range of assessment procedures will be used to support the students progressive and authentic learning required to meet the unit learning outcomes and develop graduate attributes consistent with University assessment requirements. In order to pass this unit, you are required to complete and submit three graded assessment tasks. In addition to this, students must obtain an aggregate mark of greater than 50% and a passing mark for the last assessment. The assessment strategy used allows students to progressively develop knowledge and skills of international trade.
Assessments in this unit are related to the real-world situation/context that we are currently struggling with in terms of our exposure to the international trade environment.
In assessment 1,students will verbally present their knowledge theories and concepts of the International Trade and Globalisation in relation to Australian MINCs considering the implications of COVID19.
Assessment 2 focuses on the application of theories, concepts and models of international trade and evaluate students’ critical thinking skills and how they analyse international trade trends and their future implications,
In assessment 3, students build on the feedback provided in the previous assessments and their accumulated knowledge of international trade to analyse a case and provide a feasible solution to the international trade issue raised in the case.
The benefits and risks would need to be reviewed within the current environment and the arguments relating to both sides justified with reference to the theories and concepts explored throughout the semester.
Overview of assessments
Assessment Task 1: Individual Presentation This a...
Assessment Task 1: Individual Presentation
This assessment task consists of a 8 minute pre-recorded presentation on the impact of COVID19 on international trade and Globalisation and its implications for different nations' common good. This task requires students to demonstrate their knowledge of the benefits of International Trade and Globalisation.
Submission Type: Individual
Assessment Method: Verbal presentation
Artefact: Presentation
20%
Assessment Task 2: Individual Article Critique Th...
Assessment Task 2: Individual Article Critique
This assessment task consists of a 1000-word written article critique focusing on a real-life/recent international trade trend on the news or an article. This task requires students to demonstrate critical thinking skills in the area of International Trade.
Submission Type: Individual
Assessment Method: Article Critique
Artefact: Critique
30%
Assessment Task 3: Case Study Students will be p...
Assessment Task 3: Case Study
Students will be presented with a real-world case concerning a contemporary issue affecting the global economy and Australia. They will be required to critically analyse, evaluate and articulate the case in 1500 words and provide feasible solutions to the issues raised in the case.
Submission Type: Individual
Assessment Method: Case study
Artefact: Written report
50%
Learning and teaching strategy and rationale
This unit takes an active learning approach to guide students in the analysis and synthesis of knowledge associated with the conduct of international trade. Students are able to explore the knowledge base underpinning international trade in a series of online modules. Students have the opportunity to take part in facilitated synchronous online workshops designed to support them to actively participate in the construction and synthesis of this knowledge. Each online workshop includes min seminars focusing on reviewing core theories followed by practical exercises.
By undertaking the individual activities and participating in these online workshops, students will systematically develop their understanding of the critical aspects of international trade. This unit takes an experiential approach to support students in developing the skills required to effectively manage internationally by tapping into the knowledge of other participants, sharing stories and insights and reflecting on experiences. This approach provides flexibility and facilitates the participation of students who are unable to attend class.