25304 Asian-Australian Economics Relations

Subject level: Undergraduate

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

Assessment item 1: Case Study (Group)

Assessment item 2: Weekly Assignments (Individual)

Assessment item 3: Final Examination (Individual)

Indicative references

No specific text is exclusively used. Instead various readings provide a foundation for the informational basis of the course. These readings plus the lecturer's notes are available either from the closed reserve section of the library or can be purchased from the UTS Union Shop, Level 1, Building 5, Haymarket.

The readings and lecture notes are entitled:

Lecture Notes: Asian-Australian Economic Relations Lectures 1-6: 2009

Readings in Asian-Australian Economic Relations Book 1: 2009

Lecture Notes: Asian-Australian Economic Relations Lectures 7-12: 2009

Readings in Asian-Australian Economic Relations Book 2: 2009

Feel free to record lectures (and tutorials) if you wish

Additional material

You will gain more from the subject if you attempt to keep abreast of contemporary Asian economic news as contained in, for instance, The Economist, The Asian Wall Street Journal, Asian Newspaper web sites and local newspapers.

Electronic resources

Frequent use will be made of material available on the internet. Specific references are identified in the tutorial program.

In addition, data of relevance to the course can be accessed via UTSOnline.

Note: Any questions for the lecturer should be registered in person or by phone/fax or email.

Telephone is often the quickest. Questions directed to the lecturer via discussion boards etc on UTSOnline will NOT be answered.