EFB336 International Economics
To view more information for this unit, select Unit Outline from the list below. Please note the teaching period for which the Unit Outline is relevant.
| Unit code: | EFB336 |
|---|---|
| Prerequisite(s): | EFB228 or EFB223 |
| Antirequisite(s): | EFB314 |
| Equivalent(s): | EFX336 |
| Credit points: | 12 |
| Timetable | Details in HiQ, if available |
| Availabilities |
|
| CSP student contribution | $2,124 |
| Pre-2021 CSP student contribution | $1,663 The pre-2021 commonwealth supported place (CSP) contribution amount only applies to students enrolled in a course prior to 2021. To learn more, visit our Understanding your fees page. |
| Domestic tuition unit fee | $3,204 |
| International unit fee | $4,512 |
Unit Outline: Semester 2 2025, Gardens Point, Internal
| Unit code: | EFB336 |
|---|---|
| Credit points: | 12 |
| Pre-requisite: | EFB228 or EFB223 |
| Equivalent: | EFX336 |
| Coordinator: | Clevo Wilson | clevo.wilson@qut.edu.au |
Overview
The slicing of the global value chain and the dominance of global production networks have changed the economics and politics of trade. The aim of this unit is to build students' ability to critically analyse tendencies in the international economy. After laying down the empirical and theoretical underpinnings of how trade markets work, students will be presented with the latest examples/controversies in the global economy which will help them shape their own critical thinking based on economic reasoning.
Learning Outcomes
On successful completion of this unit you will be able to:
- Apply knowledge of microeconomics to international trade and acquire skills to analyse and critique recent changes in the global economy. [KS 1.1, 1.2, HO 2.1]
- 2. Analyse the economic position of Australia in an international setting, critically discuss its prospects given the experiences of other nations, and evaluate underlying economic, moral and societal issues in the global economy. [HO 2.1, SE 5.1, 5.2]
- Apply teamwork knowledge and skills for collaborating effectively with peers. [TS 4.2]Relates to: UG Business Capabilities: TS (4.2)
- Communicate complex international economic theories and concepts effectively and professionally in written forms. [PC 3.1]Relates to: UG Business Capabilities: PC (3.1)
Content
The unit focuses on the ideas, interpretations and influence that have shaped our world and its economic development. Principal questions that this unit answers are:
- Why do firms and countries trade?
- Are there gains from trade for all participants in the global market?
- What explains the emergence of multinational firms in the global economy?
- When should countries intervene in trade and how they should do it?
- What is the WTO and how can it become more effective in managing world trade relations?
The second part of the unit will chose contemporary issues and debate them in the class using what it has been taught in the first part of the unit.
QUT Business Capabilities (Undergraduate)
The content and assessment in this unit are aligned to a selection of the following set of QUT Business Capabilities, also known as Assurance of Learning Goals (AoLs). Developing these capabilities will assist you to meet the desired graduate outcomes set at QUT and equip you with the knowledge and skills to succeed in your chosen career.
Knowledge and Technological Skills (KS)
1.1 Demonstrate and apply integrated discipline (including technical) knowledge across the broad field of business with depth in one or more core business disciplines.
1.2 Apply technical and technological skills appropriate and effective for real world business purposes and contexts.
Higher Order Thinking (HO)
2.1 Investigate real world business issues and situations through the effective analysis, evaluation and synthesis of theory and practice.
2.2 Exercise independent judgement and initiative in adapting and applying knowledge and skills for effective planning, problem solving and decision making in diverse contexts.
Professional Communication (PC)
3.1 Use information literacy skills, and communicate effectively and professionally in written forms and using media appropriate for diverse purposes and contexts.
3.2 Use information literacy skills, and communicate effectively and professionally in oral forms, appropriate for diverse purposes and contexts.
Teamwork and Self (TS)
4.1 Exercise self-reflection, responsibility and accountability in relation to own learning and professional practice.
4.2 Apply teamwork knowledge and skills for effective collaboration across diverse purposes and contexts.
Social, Ethical and Global Understanding (SE)
5.1 Demonstrate and apply knowledge of ethical and legal principles and practices in analysing and responding to business issues.
5.2 Demonstrate and apply knowledge of socially responsible behaviour in analysing and addressing business issues in national and international business contexts.
Learning Approaches
The first part of this unit (the theory part) is done through weekly 2 hour lectures plus 1 hour tutorial. The second part (the contemporary issues part) will be done in 3 hour workshop blocks with presentations and debates being an integral part of the delivery.
Active student involvement is needed to develop theoretical, empirical and applied knowledge and skills in this advanced area of economics. Policy analysis fosters social and ethical understanding while working with more conceptual materials helps advance critical analysis and more mature thinking.
Feedback on Learning and Assessment
Students will receive feedback in various forms throughout the semester which may include:
- Informal: worked examples, such as verbal feedback and personal consultation
- Formal: in writing, such as checklists (e.g. criteria sheets), written commentary
- Direct: to individual students, either in written form or in consultation
- Indirect: to the whole group
Assessment
Overview
The assessment in this unit aims to support your achievement of the unit learning outcomes and course assurance of learning goals. The assessment has been designed in order to allow you to:
- receive feedback on your learning as you progress toward the development of knowledge, understanding, skills and attitudes (formative assessment);
- demonstrate your learning in order to achieve a final grade (summative assessment).
Students may be required to attend campus or an assessment centre for the purposes of assessment, regardless of the attendance mode for the unit.
Unit Grading Scheme
7- point scale
Assessment Tasks
Assessment: Report
Students will be given state of the art research articles within international trade and will be asked to provide a synopsis. The aim is to expose students to research that they should be able to distill and translate within a short time frame. The report will also include a written reflection on teamwork process.
Formative or Summative: Formative and Summative
Business Capabilities (AoL goals): KS (1.1, 1.2), HO (2.1), PC (3.1), TS (4.2)
This assignment is eligible for the 48-hour late submission period and assignment extensions.
Assessment: End of Semester Examination
The end of semester examination will consist of four essay questions. The exam will test students' knowledge and understanding of lecture content both in terms of providing precise answers to precise questions and in terms of expressing an opinion on an open-ended question. All materials covered during the semester will be examinable.
Formative or Summative: Summative
Business Capabilities (AoL goals): KS (1.1, 1.2), HO (2.1), PC (3.1), SE (5.1, 5.2)
Academic Integrity
Academic integrity is a commitment to undertaking academic work and assessment in a manner that is ethical, fair, honest, respectful and accountable.
The Academic Integrity Policy sets out the range of conduct that can be a failure to maintain the standards of academic integrity. This includes, cheating in exams, plagiarism, self-plagiarism, collusion and contract cheating. It also includes providing fraudulent or altered documentation in support of an academic concession application, for example an assignment extension or a deferred exam.
You are encouraged to make use of QUT’s learning support services, resources and tools to assure the academic integrity of your assessment. This includes the use of text matching software that may be available to assist with self-assessing your academic integrity as part of the assessment submission process.
Breaching QUT’s Academic Integrity Policy or engaging in conduct that may defeat or compromise the purpose of assessment can lead to a finding of student misconduct (Code of Conduct – Student) and result in the imposition of penalties under the Management of Student Misconduct Policy, ranging from a grade reduction to exclusion from QUT.
Resources
Resource Materials
Prescribed text(s)
Paul R. Krugman, Maurice Obstfeld and Marc J. Melitz, International Economics Theory and Policy, 12th edition, Pearson 2023.
Other
Further references and their usage are listed on the EFB336 Canvas site
Risk Assessment Statement
There are no out-of-the-ordinary risks associated with lectures or tutorials in this unit.
Standards/Competencies
This unit is designed to support your development of the following standards\competencies.
QUT Business Capabilities (Undergraduate)
HO (2.1): Critical Analysis
Relates to: ULO1, ULO2, Report, End of Semester Examination
KS (1.1): Discipline Knowledge
Relates to: ULO1, Report, End of Semester Examination
KS (1.2): Technical and Technological Skills
Relates to: ULO1, Report, End of Semester Examination
PC (3.1): Professional Communication (Written)
Relates to: ULO4, Report, End of Semester Examination
SE (5.1): Ethical and Legal Understanding
Relates to: ULO2, End of Semester Examination
SE (5.2): Global Social Responsibility
Relates to: ULO2, End of Semester Examination
TS (4.2): Teamwork Knowledge and Skills
Course Learning Outcomes
This unit is designed to support your development of the following course/study area learning outcomes.BS05 Bachelor of Business
- Demonstrate and apply integrated discipline (including technical) knowledge across the broad field of business with depth in one or more core business disciplines.
Relates to: ULO1, Report, End of Semester Examination - Demonstrate and apply knowledge of socially responsible behaviour in analysing and addressing business issues in national and international business contexts.
Relates to: ULO2, End of Semester Examination - Apply technical and technological skills appropriate and effective for real world business purposes and contexts.
Relates to: ULO1, Report, End of Semester Examination - Investigate real world business issues and situations through the effective analysis, evaluation and synthesis of theory and practice.
Relates to: ULO1, ULO2, Report, End of Semester Examination - Use information literacy skills, and communicate effectively and professionally in written forms and using media appropriate for diverse purposes and contexts.
Relates to: ULO4, Report, End of Semester Examination - Apply teamwork knowledge and skills for effective collaboration across diverse purposes and contexts.
Relates to: ULO3, Report - Demonstrate and apply knowledge of ethical and legal principles and practices in analysing and responding to business issues.
Relates to: ULO2, End of Semester Examination
BS06 Bachelor of Business
- Demonstrate and apply integrated discipline (including technical) knowledge across the broad field of business with depth in one or more core business disciplines.
Relates to: ULO1, Report, End of Semester Examination - Demonstrate and apply knowledge of socially responsible behaviour in analysing and addressing business issues in national and international business contexts.
Relates to: ULO2, End of Semester Examination - Apply technical and technological skills appropriate and effective for real world business purposes and contexts.
Relates to: ULO1, Report, End of Semester Examination - Investigate real world business issues and situations through the effective analysis, evaluation and synthesis of theory and practice.
Relates to: ULO1, ULO2, Report, End of Semester Examination - Use information literacy skills, and communicate effectively and professionally in written forms and using media appropriate for diverse purposes and contexts.
Relates to: ULO4, Report, End of Semester Examination - Apply teamwork knowledge and skills for effective collaboration across diverse purposes and contexts.
Relates to: ULO3, Report - Demonstrate and apply knowledge of ethical and legal principles and practices in analysing and responding to business issues.
Relates to: ULO2, End of Semester Examination
BS08 Bachelor of Business - International
- Demonstrate and apply integrated discipline (including technical) knowledge across the broad field of business with depth in one or more core business disciplines.
Relates to: ULO1, Report, End of Semester Examination - Demonstrate and apply knowledge of socially responsible behaviour in analysing and addressing business issues in national and international business contexts.
Relates to: ULO2, End of Semester Examination - Apply technical and technological skills appropriate and effective for real world business purposes and contexts.
Relates to: ULO1, Report, End of Semester Examination - Investigate real world business issues and situations through the effective analysis, evaluation and synthesis of theory and practice.
Relates to: ULO1, ULO2, Report, End of Semester Examination - Use information literacy skills, and communicate effectively and professionally in written forms and using media appropriate for diverse purposes and contexts.
Relates to: ULO4, Report, End of Semester Examination - Apply teamwork knowledge and skills for effective collaboration across diverse purposes and contexts.
Relates to: ULO3, Report - Demonstrate and apply knowledge of ethical and legal principles and practices in analysing and responding to business issues.
Relates to: ULO2, End of Semester Examination
Unit Outline: Semester 2 2025, Online
| Unit code: | EFB336 |
|---|---|
| Credit points: | 12 |
| Pre-requisite: | EFB228 or EFB223 |
| Equivalent: | EFX336 |
Overview
The slicing of the global value chain and the dominance of global production networks have changed the economics and politics of trade. The aim of this unit is to build students' ability to critically analyse tendencies in the international economy. After laying down the empirical and theoretical underpinnings of how trade markets work, students will be presented with the latest examples/controversies in the global economy which will help them shape their own critical thinking based on economic reasoning.
Learning Outcomes
On successful completion of this unit you will be able to:
- Apply knowledge of microeconomics to international trade and acquire skills to analyse and critique recent changes in the global economy. [KS 1.1, 1.2, HO 2.1]
- 2. Analyse the economic position of Australia in an international setting, critically discuss its prospects given the experiences of other nations, and evaluate underlying economic, moral and societal issues in the global economy. [HO 2.1, SE 5.1, 5.2]
- Apply teamwork knowledge and skills for collaborating effectively with peers. [TS 4.2]Relates to: UG Business Capabilities: TS (4.2)
- Communicate complex international economic theories and concepts effectively and professionally in written forms. [PC 3.1]Relates to: UG Business Capabilities: PC (3.1)
Content
The unit focuses on the ideas, interpretations and influence that have shaped our world and its economic development. Principal questions that this unit answers are:
- Why do firms and countries trade?
- Are there gains from trade for all participants in the global market?
- What explains the emergence of multinational firms in the global economy?
- When should countries intervene in trade and how they should do it?
- What is the WTO and how can it become more effective in managing world trade relations?
The second part of the unit will chose contemporary issues and debate them in the class using what it has been taught in the first part of the unit.
QUT Business Capabilities (Undergraduate)
The content and assessment in this unit are aligned to a selection of the following set of QUT Business Capabilities, also known as Assurance of Learning Goals (AoLs). Developing these capabilities will assist you to meet the desired graduate outcomes set at QUT and equip you with the knowledge and skills to succeed in your chosen career.
Knowledge and Technological Skills (KS)
1.1 Demonstrate and apply integrated discipline (including technical) knowledge across the broad field of business with depth in one or more core business disciplines.
1.2 Apply technical and technological skills appropriate and effective for real world business purposes and contexts.
Higher Order Thinking (HO)
2.1 Investigate real world business issues and situations through the effective analysis, evaluation and synthesis of theory and practice.
2.2 Exercise independent judgement and initiative in adapting and applying knowledge and skills for effective planning, problem solving and decision making in diverse contexts.
Professional Communication (PC)
3.1 Use information literacy skills, and communicate effectively and professionally in written forms and using media appropriate for diverse purposes and contexts.
3.2 Use information literacy skills, and communicate effectively and professionally in oral forms, appropriate for diverse purposes and contexts.
Teamwork and Self (TS)
4.1 Exercise self-reflection, responsibility and accountability in relation to own learning and professional practice.
4.2 Apply teamwork knowledge and skills for effective collaboration across diverse purposes and contexts.
Social, Ethical and Global Understanding (SE)
5.1 Demonstrate and apply knowledge of ethical and legal principles and practices in analysing and responding to business issues.
5.2 Demonstrate and apply knowledge of socially responsible behaviour in analysing and addressing business issues in national and international business contexts.
Learning Approaches
The first part of this unit (the theory part) is done through weekly 2 hour lectures plus 1 hour tutorial. The second part (the contemporary issues part) will be done in 3 hour workshop blocks with presentations and debates being an integral part of the delivery.
Active student involvement is needed to develop theoretical, empirical and applied knowledge and skills in this advanced area of economics. Policy analysis fosters social and ethical understanding while working with more conceptual materials helps advance critical analysis and more mature thinking.
Feedback on Learning and Assessment
Students will receive feedback in various forms throughout the semester which may include:
- Informal: worked examples, such as verbal feedback and personal consultation
- Formal: in writing, such as checklists (e.g. criteria sheets), written commentary
- Direct: to individual students, either in written form or in consultation
- Indirect: to the whole group
Assessment
Overview
The assessment in this unit aims to support your achievement of the unit learning outcomes and course assurance of learning goals. The assessment has been designed in order to allow you to:
- receive feedback on your learning as you progress toward the development of knowledge, understanding, skills and attitudes (formative assessment);
- demonstrate your learning in order to achieve a final grade (summative assessment).
Students may be required to attend campus or an assessment centre for the purposes of assessment, regardless of the attendance mode for the unit.
Unit Grading Scheme
7- point scale
Assessment Tasks
Assessment: Report
Students will be given state of the art research articles within international trade and will be asked to provide a synopsis. The aim is to expose students to research that they should be able to distill and translate within a short time frame. The report will also include a written reflection on teamwork process.
Formative or Summative: Formative and Summative
Business Capabilities (AoL goals): KS (1.1, 1.2), HO (2.1), PC (3.1), TS (4.2)
This assignment is eligible for the 48-hour late submission period and assignment extensions.
Assessment: End of Semester Examination
The end of semester examination will consist of four essay questions. The exam will test students' knowledge and understanding of lecture content both in terms of providing precise answers to precise questions and in terms of expressing an opinion on an open-ended question. All materials covered during the semester will be examinable.
Formative or Summative: Summative
Business Capabilities (AoL goals): KS (1.1, 1.2), HO (2.1), PC (3.1), SE (5.1, 5.2)
Academic Integrity
Academic integrity is a commitment to undertaking academic work and assessment in a manner that is ethical, fair, honest, respectful and accountable.
The Academic Integrity Policy sets out the range of conduct that can be a failure to maintain the standards of academic integrity. This includes, cheating in exams, plagiarism, self-plagiarism, collusion and contract cheating. It also includes providing fraudulent or altered documentation in support of an academic concession application, for example an assignment extension or a deferred exam.
You are encouraged to make use of QUT’s learning support services, resources and tools to assure the academic integrity of your assessment. This includes the use of text matching software that may be available to assist with self-assessing your academic integrity as part of the assessment submission process.
Breaching QUT’s Academic Integrity Policy or engaging in conduct that may defeat or compromise the purpose of assessment can lead to a finding of student misconduct (Code of Conduct – Student) and result in the imposition of penalties under the Management of Student Misconduct Policy, ranging from a grade reduction to exclusion from QUT.
Resources
Resource Materials
Prescribed text(s)
Paul R. Krugman, Maurice Obstfeld and Marc J. Melitz, International Economics Theory and Policy, 12th edition, Pearson 2023.
Other
Further references and their usage are listed on the EFB336 Canvas site
Risk Assessment Statement
There are no out-of-the-ordinary risks associated with lectures or tutorials in this unit.
Standards/Competencies
This unit is designed to support your development of the following standards\competencies.
QUT Business Capabilities (Undergraduate)
HO (2.1): Critical Analysis
Relates to: ULO1, ULO2, Report, End of Semester Examination
KS (1.1): Discipline Knowledge
Relates to: ULO1, Report, End of Semester Examination
KS (1.2): Technical and Technological Skills
Relates to: ULO1, Report, End of Semester Examination
PC (3.1): Professional Communication (Written)
Relates to: ULO4, Report, End of Semester Examination
SE (5.1): Ethical and Legal Understanding
Relates to: ULO2, End of Semester Examination
SE (5.2): Global Social Responsibility
Relates to: ULO2, End of Semester Examination
TS (4.2): Teamwork Knowledge and Skills
Course Learning Outcomes
This unit is designed to support your development of the following course/study area learning outcomes.BS05 Bachelor of Business
- Demonstrate and apply integrated discipline (including technical) knowledge across the broad field of business with depth in one or more core business disciplines.
Relates to: ULO1, Report, End of Semester Examination - Demonstrate and apply knowledge of socially responsible behaviour in analysing and addressing business issues in national and international business contexts.
Relates to: ULO2, End of Semester Examination - Apply technical and technological skills appropriate and effective for real world business purposes and contexts.
Relates to: ULO1, Report, End of Semester Examination - Investigate real world business issues and situations through the effective analysis, evaluation and synthesis of theory and practice.
Relates to: ULO1, ULO2, Report, End of Semester Examination - Use information literacy skills, and communicate effectively and professionally in written forms and using media appropriate for diverse purposes and contexts.
Relates to: ULO4, Report, End of Semester Examination - Apply teamwork knowledge and skills for effective collaboration across diverse purposes and contexts.
Relates to: ULO3, Report - Demonstrate and apply knowledge of ethical and legal principles and practices in analysing and responding to business issues.
Relates to: ULO2, End of Semester Examination
BS06 Bachelor of Business
- Demonstrate and apply integrated discipline (including technical) knowledge across the broad field of business with depth in one or more core business disciplines.
Relates to: ULO1, Report, End of Semester Examination - Demonstrate and apply knowledge of socially responsible behaviour in analysing and addressing business issues in national and international business contexts.
Relates to: ULO2, End of Semester Examination - Apply technical and technological skills appropriate and effective for real world business purposes and contexts.
Relates to: ULO1, Report, End of Semester Examination - Investigate real world business issues and situations through the effective analysis, evaluation and synthesis of theory and practice.
Relates to: ULO1, ULO2, Report, End of Semester Examination - Use information literacy skills, and communicate effectively and professionally in written forms and using media appropriate for diverse purposes and contexts.
Relates to: ULO4, Report, End of Semester Examination - Apply teamwork knowledge and skills for effective collaboration across diverse purposes and contexts.
Relates to: ULO3, Report - Demonstrate and apply knowledge of ethical and legal principles and practices in analysing and responding to business issues.
Relates to: ULO2, End of Semester Examination
BS08 Bachelor of Business - International
- Demonstrate and apply integrated discipline (including technical) knowledge across the broad field of business with depth in one or more core business disciplines.
Relates to: ULO1, Report, End of Semester Examination - Demonstrate and apply knowledge of socially responsible behaviour in analysing and addressing business issues in national and international business contexts.
Relates to: ULO2, End of Semester Examination - Apply technical and technological skills appropriate and effective for real world business purposes and contexts.
Relates to: ULO1, Report, End of Semester Examination - Investigate real world business issues and situations through the effective analysis, evaluation and synthesis of theory and practice.
Relates to: ULO1, ULO2, Report, End of Semester Examination - Use information literacy skills, and communicate effectively and professionally in written forms and using media appropriate for diverse purposes and contexts.
Relates to: ULO4, Report, End of Semester Examination - Apply teamwork knowledge and skills for effective collaboration across diverse purposes and contexts.
Relates to: ULO3, Report - Demonstrate and apply knowledge of ethical and legal principles and practices in analysing and responding to business issues.
Relates to: ULO2, End of Semester Examination