A feature of international business activity over the past 30 years has been the rapidly increasing trend towards the globalisation of markets and the development of the "global economy". National boundaries are disappearing with the rapid development of this new global economic paradigm. You are required to conduct research and write an essay which addresses the following assessment criteria:

1. Discuss the impact of globalisation on the world economy and it's impact on Australia's economy.

2. Compare the range of trade theories and explain their implications for business practice. What are the benefits of engaging in international trade?

3. Discuss the political and economic reasons why governments intervene in international trade. What are the implications of the global trade system and government intervention on international trade for business practice