Assessment Task: Individual Essay

Assessment Details

The recent Brexit vote in the United Kingdom and Donald Trump's accession to the White House has provided a challenge to the notion that countries gain from international trade.

You are required to:

(a) Explain how international trade increases a country's consumption.

(b) What is meant by a country specialising in the production of a good? Is it typical for countries to be completely specialised? Explain.

(c) What are the main sources of comparative advantage?

(d) Does everyone gain from international trade? If not, explain which groups lose.

This task will be assessed according to the following criteria:

• Ability to understand and analyse the question asked and to develop a conceptual framework to address the issues raised by the question
• Thoroughness of research undertaken, extent of relevant reading ( current publications, especially Australian where appropriate), and demonstrated understanding of research materials
• Demonstrate the ability to analyse materials and draw valid conclusions to support arguments.