Economics 244

International Trade

This section considers the interaction between our economy and that of the rest of the world. From our knowledge of macroeconomics, we know that a portion of domestic consumption is imported from overseas and that some of what is produced locally is exported. Why does international trade occur? Is it to our advantage to engage in international trade? Why does the government levy import tariffs on certain goods? The aim of the module is to answer these and other questions. International Finance

Whenever trade occurs, money is always involved. In the domestic economy, payment for goods and services rendered is relatively straightforward as the currency involved is the same. However, once goods are traded internationally, different currencies are involved. This creates complications when paying for these goods. The goal of this module is to discuss the most important aspects of the monetary side of international trade. International finance and international trade can therefore be regarded as two sides of the same coin.

Prerequisite Pass modules (PP): Economics 114, Economics 144

Corequisite module (C): Economics 214

Credits: 16

Classes per week: 3 lectures 1 tutorial

Module convenor: Prof RCC Jafta

Work programme: International Trade

Work programme: International Finance