10 cp Prerequisites 10 cp from 100-level units in Economics Teaching Organisation 3 hours per week for twelve weeks or equivalent.
This unit will introduce students to the key issues that impact on the international economic system and to Australia’s role in the global economy. The trend of globalisation and its impact on trade, investment, technology, labour and finance will be studied. Trade theory and its application to the costs and benefits of trade in Australia and other economies will be discussed along with exchange rates and the effects of fluctuations under different exchange rate systems. The role of international organisations, such as the IMF and World Bank, in the global economy will also be investigated.