NEW SOUTH WALESTECHNICAL AND FURTHER EDUCATION COMMISSION_________________________International Economics_________________________NSW Module Number: 17135AImplementation Date: 01-Jan-2006National Module Code:BUSINESS ARTS AND INFO TECH ADVERT MARKETING & PUBLIC RELS PROGRAM AREA1. MODULE DETAILS:1.1 Module Name:International Economics1.2 Nominal Student Hours: 30 hoursThe length of time taken to complete this module will vary depending on factors such as teaching methods, target group and learners' entry level knowledge and skills.1.3 Module Codes:NSW Module Number: 17135ANational Module Code:1.4 Field of Education Code: 091901 Economics1.5 Copyright Information:Material in this course is State of NSW, Department of Education and Training, NSW TAFE Commission, Business, Arts and Information Technology Curriculum Centre copyright, and subject to the provisions of the Copyright Act 1968.1.6 Licensing and Franchise Arrangements:A licence is required to:- use this material for training delivery- reproduce in part or whole- incorporate a significant part of the material into a derivative such as anEnhancement, Contextualisation, Supplementary or Compilation- on-sell or license, in part or whole to a third party.Licensing and franchising arrangements should be negotiated with the copyright owner.For information related to the licensing of State of NSW, Department ofEducation and Training copyright material contact VETAB on(02)9244 5335.2. MODULE PURPOSEThe purpose of this module is to enable learners to develop the fundamental knowledge and skills required to analyse the general and international economic environment within which businesses operate in international markets.On successful completion of this module, learners will be able to:-- Describe basic economic concepts/economic systems and identify changes incontemporary economic systems.- Describe the characteristics of different market structures,restrictive market behaviour, and government regulatory action to promotecompetition.- Explain the reasons for trade between countries, the composition anddirection of Australia's trade, and major trends in international regions.- Explain the balance of payments, exchange rates and influence of trade flows on the domestic economy.- Describe the structure and role of financial systems in select4edinternational regions.- Explain the major macro-economic objectives of governments, identifypolicy measures used to manage the economies and outline problemsinvolved in economic management.3. PREREQUISITESNil4. RELATIONSHIP TO COMPETENCY STANDARDS:No nationally endorsed competency standards exist in this area.5. CONTENT:- the economic problem- basic economic concepts- resources- economic systems and changes relating thereto- supply and demand- market structures - monopoly, oligopoly, perfect competition, monopolisticcompetition, duopoly.- government regulations on anti-competitive behaviour- reasons for international trade- absolute and comparative advantage- trade restrictions and methods of protection- composition and direction of Australia's trade- trends in international trade regions- balance of payments- current account deficit/surplus- exchange rates- terms of trade- impact of capital investment- financial structures- international foreign exchange- IMF/World Bank/Asian Development Bank- macro-economic objectives of government policy- monetary, fiscal, wages and incomes and international problems of economic management- conflicting objectives/policies, lagging indicators, external pressures and structural institutional constraints7. LEARNING OUTCOME DETAILS7.1 Learning Outcome 1:Describe basic economic concepts/economic systems and identify changes in contemporary economic systems.ASSESSMENT CRITERIA1.1 Describe the economic problem of scarce resources and ways inwhich different economic systems approach this problem.1.2 Use examples to define basic economic concepts.1.3 Identify the major determinants of demand and supply.1.4 Describe the nature of changes occurring in the economies ofAustralia and other countries in selected international regions.7.2 Learning Outcome 2:Describe the characteristics of different market structures, restrictive market behaviour, and government regulatory action to promote competition. ASSESSMENT CRITERIA2.1 Describe major characteristics of market structures.2.2 Outline the nature of government regulation of anti-competitivebehaviour.7.3 Learning Outcome 3:Explain the reasons for trade between countries, the composition and direction of Australia's trade, and major trends in selected international regions. ASSESSMENT CRITERIA3.1 Outline reasons for trade between nations.3.2 Outline reasons for countries acting to restrict trade, methodsof protection applied and the effects on each economy.3.3 Describe the composition and direction of Australia'sinternational trade.3.4 Explain major trends in trade in selected international regions.7.4 Learning Outcome 4:Explain the balance of payments, exchange rates and influence of trade flows on the domestic economy.Assessment criteria4.1 Describe the major elements which make up the Balance ofPayments.4.2 Outline the reasons for, and effects of, continuing CurrentAccount deficits.4.3 Distinguish between fixed and flexible exchange rate systems.4.4 Describe the major factors affecting the value of a flexibleexchange rate.4.5 Describe the effects of changes in the exchange rate on theBalance of Payments and domestic economies.4.6 Define Terms of Trade and perform simple calc ulations on thisindex.4.7 Explain the effects of changes in the terms of trade on theBalance of Payments and the domestic economy.4.8 Explain the importance of capital inflow and describe theadvantages and disadvantages of capital investment in Australiaand a selected international country.7.5 Learning Outcome 5:Describe the structure and role of financial systems in selected international regions.Assessment criteria5.1 Describe the structure and role of Australia's financial system.5.2 Explain the international foreign exchange system.5.3 Discuss the role of the International Monetary Fund, the WorldBank, and the Asian Development Bank.5.3 Describe and compare (with Australia) the structure of thefinancial system in a chosen international country.7.6 Learning Outcome 6:Explain the major macro-economic objectives of governments, identify policy measures used to manage the economies and outline problems involved in economic management.Assessment criteria6.1 Identify and explain the macro-economic objectives ofgovernments.6.2 List the major economic tools available to government to controleconomies.6.3 Describe the problems of economic management.8. DELIVERYNo Information Entered8.1 ESSENTIAL TEACHER QUALIFICATIONSRegistered Training Organisations (RTO) must ensure that training is delivered and assessments are conducted by people who:1. Module(s) replaced by this module:2.1 TAFE Advanced Standings:3. Standard Exemptions:Nil4. Recognition of Prior Learning:People who consider they already possess the competencies developed through this module shall be granted exemption based on assessment of relevant academic qualifications or from evidence collected by an appropriate portfolio or bodyof work which incorporates all the learning outcomes.All Recognition of Prior Learning will be determined according to TAFE policy. 5. Module Included in the following Course s:Number Ver Course Name Sponsor17135 1 Business Management Business Arts and Info Tech17136 1 Business (Marketing) Business Arts and Info Tech6. Asse ssment:Grade Code: 72* This is a Category D assessment.* Student Records requires a Class Mark only.* The Class Mark is locally set and locally marked.* Results are reported as DISTINCTION, CREDIT, PASS, FAIL.GRADE CLASS MARK (%)DISTINCTION >= 83CREDIT >= 70PASS >= 50All other cases FAIL(>= means a mark of "more than or equal to")7. Asse ssment Events:In addition to an overall pass in the module, students must pass each assessmentevent where there is a "yes" in the "must pass" column.Must PassNumber Name Outcomes/TimingWeighting1 Assignment LO1-4 50% Yes2 Test LO1-6 50% YesAssessment Events' Comments:Event 1:The following description is provided as guidance, and may be adapted to meet specific requirements and circumstances.It is suggested that learners use the same product or service that formed the subject for the assignments in other modules where ever possible. Event 1 may be done on an individual or group basis.For a selected country, prepare a written report outlining the economic factors that an Australian exporter would need to consider before marketing theirproduct to that country. Topics considered may include:1 The economic problemBasic economic conceptsResourcesEconomic systems and changes relating theretoSupply and demand2 Market structures of the product market- monopoly, oligopoly, perfect competition, monopolistic competition, duopoly- Government regulations on anti-competitive behaviour3 Balance of paymentsCurrent account deficit/surplusExchange ratesTerms of tradeImpact of capital investment4 Financial structuresInternational foreign exchangeIMF/World Bank/Asian Development Bank5 Macro-economic objectives of government policy- monetary, fiscal, wages and incomes and international problems of economic management- conflicting objectives/policies, lagging indicators, external pressures and structural institutional constraintsEvent 2:This assessment will take the form of a final test utilising short answer andcase studies to assess the understanding of the learner and their ability to understand and describe the economic factors related to international marketing. The test is locally set and locally marked.DETERMINING GRADESClass assignments grades have the following features:"A" A very high quality answer, excellent expression and layout, carefully proofread and grammatically correct. A clear and coherent framework that addresses the issues fully. It is comprehensively researched from a range of sources and argues a strong and well-supported case. The writer showsoriginality in thinking and reaches a well-drawn conclusion based on personal interpretation. It is fully referenced including a bibliography."B" An above average answer that is clearly written and has few errors in expression layout and grammar. It shows good research and uses the references to support most conclusions. The logic is good but can be incomplete orunconvincing in parts. Some interpretation and analysis but not developed to a high standard."C" A competent answer. The expression is satisfactory with acceptable style and few mistakes in expression layout and grammar. The framework is logical and research is mainly from the set text or reading. There is little originalanalysis or insight. It is a satisfactory paper only."Fail" An unsatisfactory assignment that is poorly written and presented. The framework is weak or non-existent and the content shows little understanding of the material from the text or other standard sources. It is not referenced and there is no bibliography. The arguments are weak or illogical and not backed up with analysis of the material. The resulting assignment therefore lacks focus. NOTE: * An assignment will also receive a fail grade if it is a satisfactory answer to the wrong question. * A "plus" beside the grade indicates anassignment in the top half of the range for that grade.8. Student Asse ssment Information:SUMMARY OF CONTENT- the economic problem- basic economic concepts- resources- economic systems and changes relating thereto- supply and demand- market structures - monopoly, oligopoly, perfect competition, monopolisticcompetition, duopoly.- government regulations on anti-competitive behaviour- reasons for international trade- absolute and comparative advantage- trade restrictions and methods of protection- composition and direction of Australia's trade- trends in international trade regions- balance of payments- current account deficit/surplus- exchange rates- terms of trade- impact of capital investment- financial structures- international foreign exchange- IMF/World Bank/Asian Development Bank- macro-economic objectives of government policy- monetary, fiscal, wages and incomes and international problems of economic management- conflicting objectives/policies, lagging indicators, external pressures and structural institutional constraintsTEXTS- APPLEYARD, D R, FIELD, A J, International Economics (2001) McGraw-Hill,- van den Berg, Hendrik , International Economics (2004) McGraw-Hill,- King, Philip; King, Sharmila, International Economics and InternationalEconomics Policy: A Reader, (2005) McGraw-Hill- Salvatore, Dominick, International Economics 8e Wiley International Edition, (2003) Wiley- Australian Bureau of Statistics, various statistical bulletins- Australian Financial Review, economics student briefs- World Bank - various reports- OECD Annual Surveys.Web Resources- Melbourne High School's web page providing extensive links to Economics and International Economics Resources on the Web - very useful.au/home/library/ecolinks.htm- The Centre for International Economics is a private company operating out of Canberra and Sydney, Australia. It undertakes economic analyses for clients around the world - this is the home page which has a variety of links.au/ Its links page address is.au/links.htm- La Trobe University's links page for International Resources for Economics.au/reference/ns-econworld.html- Dept of Foreign Affairs and Trade media page - provides access to mediareleases and other aspects of foreign policy and economics.au/media/On-Line application exercisesTwo useful websites for short application exercises for most sessions are:The Marketing Teachers Lesson Store/Lessonstore.htmThis is a FREE Lesson store. All of the key marketing topics from many marketing courses are here. They are designed for marketing learners and are free. The lessons are supported with their own exercises with answers - Warning - some answers seem rather odd, and teachers may need to apply their own understanding of the topics.. The process of lesson - exercise - answer will take between15-30 minutes. New topics are regularly added.Great Ideas for Teaching Marketing, Marketing Planning And Strategy/marketing/gitm/gitm.html#4e4Useful JournalsA jump-site for many Marketing and Business Journals on the Net can be found at: .au/~chiar/market.htmMarketing Glossaries- Wikipedia - the Free encyclopaedia - an on-line resource providinginformation and explanations on many subjects. The main web page forMarketing is /Category:Marketing- The Blackwell encyclopaedia of management (1997)- Mercer, David, (1999) Marketing : the encyclopaedic dictionary, Blackwell OCCUPATIONAL HEALTH AND SAFETYThe NSW OHS Act 2000 and the NSW OHS Regulation 2001 require that any person delivering this unit should take reasonable steps for the control of risks in the classroom, workshop or workplace.Teachers should incorporate in their delivery methods an awareness of issues to do with classroom, workshop or workplace safety and security. This should provide some of the essential underpinning knowledge required by learners to develop competencies in this module. Care should be taken to refer to suitable workplace texts that can be integrated into delivery and assessment strategies. Strategies to control risks may include:- Follow OHS guidelines issued by the Institute, College, campus and/orteaching section- Carry out hazard identification and risk assessment- Formulate a Work Method Statement for all activities- Ensure that equipment operating instructions are readily available foraccessFor more information and details of the OHS Act, OHS Regulation, Codes of Practice, Safety Guidelines and Safety Alerts refer to the Work Cover website, .au9. Minimum Essential Resource s9.1 Teacher's Qualifications and/or Experience:9.2 Human Resource s:Part Time Rate of Pay Schedule: T9.3 External Studies Details:9.4 Accomodation Required:9.5 Plant/Equipment Required:9.6 Consumables:9.7 Student Purcha se s and Expenditure Required:9.8 Teaching/Learning Resources Required:International Economics - 17135AB. TAFE NSW implementation requirements9.9 Major Texts & References:Implementation Date: 1-Jan-2006 Status:Approv ed Date Printed: 21/04/2013 Business Arts and Inf o Tech - Adv ert Marketing & Public Rels (c) 2006 The State of NSW, 11 Department of Education and Training unless otherwise stated in the Copy right section of the document.。