Faculty of Business: Finance and Economics
Credit points: 6 cp

Subject level: Undergraduate

Result Type: Grade and marks

Requisite(s): 25115 Economics for Business
These requisites may not apply to students in certain courses.
There are also course requisites for this subject. See access conditions.

Handbook description

This subject gives an overview of the Asian region and its developing economic relationship with Australia. The rapid growth experience of Japan – especially during the 1950s and 1960s – is analysed initially. The so-called four Asian tigers (Korea, Taiwan, Hong Kong and Singapore) are reviewed next. Their individual performances (as well as their sociopolitical climates) are analysed. Various explanations advanced for their rapid growth over the last couple of decades are assessed. Second generation newly industrialised countries (NIC) such as the ASEAN economies are similarly examined. Finally, the Chinese economy – the so-called 'awakening giant' – is analysed.

Subject objectives/outcomes

On successful completion of this subject students should be able to:

1. Demonstrate an appreciation of Australia's developing economic and financial relations with major Asian trading partners
2. Apply techniques for measuring and comparing the economic performance of Asian and other key trading partners
3. Evaluate trade prospects for Australia with Asian economies
4. Apply their understanding of the history of the political economy and development of major Asian economies and the extent to which these factors have affected trade in the past and are likely to affect trade in the future.

Contribution to graduate profile

This subject extends and applies the principles of economic theory introduced in Economics for Business. In particular, emphasis is given to dynamic comparative advantage analysis and sectoral analysis using key macroeconomics variables. It focuses on those Asian economies with which Australia has significant trade relations. Thus, this subject extends the students understanding of the Asian region as well as complementing and enriching the knowledge acquired from other internationally focused subjects.

Teaching and learning strategies

The subject is delivered through a combination of lectures and tutorials. Lectures present basic concepts and factual historical data interspersed with video material and revision exercises. Tutorials air and assess self-managed learning material. Students will be expected to access electronic resources for relevant background materials and economic data.

Content

• Introduction to the Asia-Pacific region
• China: from communism to markets
• Indonesia: policies compared
• Japan: Asia's economic role model
• India: the challenge of managing diversity and tradition
• South Korea: transformation and industrialisation
• Taiwan: strategies for growth
• Singapore: politics and performance
• ASEAN: prospects and possibilities
• Dissenting perspectives on markets and development.

Assessment

Case Study (Group)	30%
The case study assures objectives 2, 3 and 4. Students are required to produce a major report on a topic related to an Australian-Asian economic and/or financial relation. The topic may involve either comparisons of share price movements for selected Asian economies, patterns of migration from Asia to Australia or comparisons of labour markets and (say) union activity for selected Asian economies.
Weekly Assignments (Individual)	10%
The assignments will reinforce and develop understanding of course content. It assures objectives 1 and 2.
Final Examination (Individual)	60%
Final examination assures objectives 1-4. It will test students' knowledge of the Asian-Australian economic relations. It requires students to demonstrate proficiency in analysing and comparing economic development of selected Asian economies.

The final examination will be conducted under University examination conditions, and hence thoroughly address concerns regarding secure assessment. The case study will be secured through a combination of updating of assessment tasks across semesters and/or plagiarism detection software.

Indicative references

Set of readings.