Course Title: Business in the Globalised Economy

Part A: Course Overview

Course Title: Business in the Globalised Economy

Credit Points: 12.00

Important Information:

Please note that this course may have compulsory in-person attendance requirements for some teaching activities. 

To participate in any RMIT course in-person activities or assessment, you will need to comply with RMIT vaccination requirements which are applicable during the duration of the course. This RMIT requirement includes being vaccinated against COVID-19 or holding a valid medical exemption. 

Please read this RMIT Enrolment Procedure as it has important information regarding COVID vaccination and your study at RMIT:

Please read the Student website for additional requirements of in-person attendance: 

Please check your Canvas course shell closer to when the course starts to see if this course requires mandatory in-person attendance. The delivery method of the course might have to change quickly in response to changes in the local state/national directive regarding in-person course attendance. 


Course Code




Learning Mode

Teaching Period(s)


City Campus


625H Economics, Finance and Marketing


Sem 1 2006,
Sem 2 2006,
Sem 1 2007,
Sem 2 2007,
Sem 1 2008,
Sem 2 2008,
Sem 1 2009,
Sem 2 2009,
Sem 1 2010,
Sem 2 2010,
Sem 1 2011,
Sem 2 2011,
Sem 1 2012,
Sem 2 2012,
Sem 1 2013,
Sem 2 2013,
Sem 1 2014,
Sem 2 2014,
Sem 1 2015,
Sem 2 2015,
Sem 1 2016,
Sem 2 2016,
Sem 1 2019,
Sem 2 2019,
Sem 1 2020,
Sem 2 2020,
Sem 1 2021,
Sem 2 2021


Kolej Metropolitan


625H Economics, Finance and Marketing


Offsh 3 09


Singapore Inst of Management


625H Economics, Finance and Marketing


Offsh 1 09,
Offsh 1 10,
Offsh 1 11,
Offsh1 12,
Offsh1 13,
Offsh1 14,
Offsh3 14,
Offsh1 15,
Offsh3 15,
Offsh1 16,
Offsh2 16,
Offsh3 16,
Offsh3 18,
Offsh1 19,
Offsh3 19,
Offsh1 20,
Offsh3 20,
Offsh1 21,
Offsh3 21,
Offsh1 22


Hong Kong Management Associatn


625H Economics, Finance and Marketing


Offsh1 13


RMIT University Vietnam


625H Economics, Finance and Marketing


Viet3 2012,
Viet1 2013,
Viet2 2013,
Viet3 2013,
Viet1 2014,
Viet2 2014,
Viet3 2014,
Viet1 2015,
Viet2 2015,
Viet3 2015,
Viet1 2016,
Viet2 2016,
Viet3 2017,
Viet2 2018,
Viet3 2018,
Viet1 2019,
Viet2 2019,
Viet3 2019,
Viet1 2020,
Viet2 2020,
Viet3 2020,
Viet1 2021,
Viet2 2021,
Viet3 2021,
Viet1 2022


RMIT Vietnam Hanoi Campus


625H Economics, Finance and Marketing


Viet3 2019,
Viet1 2020,
Viet2 2020,
Viet3 2020,
Viet1 2021,
Viet2 2021,
Viet3 2021,
Viet1 2022

Course Coordinator: Associate Professor Bilgehan Karabay

Course Coordinator Phone: +61 3 9925 5867

Course Coordinator Email:

Course Coordinator Location: Melbourne Campus Building 80

Course Coordinator Availability: Please check with course coordinator via email

Pre-requisite Courses and Assumed Knowledge and Capabilities

Required Prior Study
004947 Prices and Markets

Course Description

This course covers the economic theory of free trade and of intervention in the trade process. It is designed as an applied course that aims to help students integrate their knowledge of economic analysis with the fundamental determinants of the size and pattern of the gains from international trade. Students will learn to think systematically about the case for and against interfering with the free flow of goods and services between countries. The effect that international trade has on economic welfare, economic growth and income distribution are also considered.

Objectives/Learning Outcomes/Capability Development


On successful completion of this course you will be able to:

  1. Manipulate economic models to analyse real world issues in international trade.
  2. Examine international trade data to critically discuss economic theorems and apply in diverse contexts.
  3. Analyse the fundamental determinants of the size and pattern of trade to verify its determinants and its effects on the wider economy/welfare.
  4. Evaluate arguments for and against intervention in the trade process to justify arguments in favour and against globalisation.
  5. Compare and contrast economic and political conditions in poor and rich countries to critically assess the incentives and consequences of trade liberalisation globally.
  6. Assess the impact of protectionist policies on the welfare in rich and poor countries to decrypt the political economy of trade reform.

Overview of Learning Activities

A range of learning experiences is planned for this course including lectures, group problem solving exercises and group discussion. Participation in the structured tutorial program is expected. The tutorials give you the opportunity to explore issues related to the economic analysis of international trade in greater depth through active participation in smaller group settings.

Students will be expected to read and digest the relevant recommended texts and other references with a view to (a) supplementing the understanding of the lecture material and (b) adding to their ability to participate in the tutorial program.

Students are expected to draw on their lecture and tutorial materials to carefully and fully prepare for the assessment tasks. This will require students to develop an understanding of the economic tools used in the debate over free trade versus protection, and to be able to apply that understanding to real world questions

Overview of Learning Resources

Various learning resources are available online through MyRMIT Studies\Canvas. In addition to topic notes; assessment details and a study schedule you may also be provided with links to relevant online information; readings; audio and video clips and communication tools to facilitate collaboration with your peers and to share information.

Resources are also available online through RMIT Library databases and other facilities. Visit the RMIT library website for further details. Assistance is available online via our chat and email services, face to face at our campus libraries or via the telephone on (03) 9925 2020.

Additional resources and/or sources to assist your learning will be identified by your course coordinator and will be made available to you as required during the teaching period. 

Overview of Assessment

The assessment tasks, their weighting and the course learning outcomes to which they are aligned are as follows:

Assessment Task 1: 20%
Linked CLOs: 1, 3, 5, 6

Assessment Task 2: 30%
Linked CLOs: 1, 3, 5, 6

Assessment Task 3: 50%
Linked CLOs: 2, 4, 5, 6

Feedback will be provided throughout the semester in class and/or in online forums through individual and group feedback on practical exercises and by individual consultation.