LSO330 - International Trade - The Canadian Perspective

Subject Title
International Trade - The Canadian Perspective

Subject Description
Real time information systems have resulted in a high degree of economic interdependence among nations. Canada has an opportunity to push forward the production possibilities frontier and obtain a higher level of efficiency and income with help of the international trade. 

This course is designed to provide a theoretical and analytical framework for understanding the complexities of international trade. It will provide insight into the effects of ever changing economic and political order on international trade, with particular reference to the Canadian economy. Implications of the current Canadian international trade policy and our multilateral agreements will be also analyzed. In addition, students will develop an understanding of the fundamental principles of balance of payments for a country and exchange rate determination. Students will explore issues such as: Is free trade beneficial for a country? Why do some countries adopt protectionist's policies? What are the effects, short-run and long-run, of major trade agreements on the Canadian economy? Why does the exchange rate fluctuate constantly? 

By the end of this course, students should be able to critically evaluate current economic and political events related to international trade. 

Credit Status
One Liberal Studies elective credit in the category.

Learning Outcomes
Upon successful completion of this subject the student will be able to:

1. Apply the measures of international economic integration to evaluate the significance of international trade in world economy.   
2. Analyze the role of three main international economic organizations; IMF, World Bank and WTO 
3. Assess current trade patterns for Canada using the theory of comparative        advantage and Heckscher-Ohlin trade model 
4. Appraise the short-run and long-run effects of policy intervention and major trade         agreements on the Canadian economy 
5. Describe the current, capital, and financial accounts of a country's balance of           payments  
6. Evaluate the impact of positive and negative current account balance on national         output, savings, investment and the general government budget balance 
7. Analyze the short run and long run determinants of exchange rate that create volatility in the market. 

Essential Employability Skills

    •  Communicate clearly, concisely and correctly in the written, spoken and visual form that fulfils the purpose and meets the needs of the audience.

    •  Respond to written, spoken, or visual messages in a manner that ensures effective communication.

    •  Apply a systematic approach to solve problems.

    •  Use a variety of thinking skills to anticipate and solve problems.

    •  Locate, select, organize, and document information using appropriate technology and information systems.

    •  Analyze, evaluate, and apply relevant information from a variety of sources.

    •  Show respect for diverse opinions, values, belief systems, and contributions of others.

    •  Interact with others in groups or teams in ways that contribute to effective working relationships and the achievement of goals.

    •  Manage the use of time and other resources to complete projects.

    •  Take responsibility for one's own actions, decisions, and consequences.

Academic Integrity
Seneca upholds a learning community that values academic integrity, honesty, fairness, trust, respect, responsibility and courage. These values enhance Seneca's commitment to deliver high-quality education and teaching excellence, while supporting a positive learning environment. Ensure that you are aware of Seneca's Academic Integrity Policy which can be found at: http://www.senecapolytechnic.ca/about/policies/academic-integrity-policy.html Review section 2 of the policy for details regarding approaches to supporting integrity. Section 2.3 and Appendix B of the policy describe various sanctions that can be applied, if there is suspected academic misconduct (e.g., contract cheating, cheating, falsification, impersonation or plagiarism).

Please visit the Academic Integrity website http://open2.senecac.on.ca/sites/academic-integrity/for-students to understand and learn more about how to prepare and submit work so that it supports academic integrity, and to avoid academic misconduct.

Discrimination/Harassment
All students and employees have the right to study and work in an environment that is free from discrimination and/or harassment. Language or activities that defeat this objective violate the College Policy on Discrimination/Harassment and shall not be tolerated. Information and assistance are available from the Student Conduct Office at student.conduct@senecapolytechnic.ca.

Accommodation for Students with Disabilities
The College will provide reasonable accommodation to students with disabilities in order to promote academic success. If you require accommodation, contact the Counselling and Accessibility Services Office at ext. 22900 to initiate the process for documenting, assessing and implementing your individual accommodation needs.

Camera Use and Recordings - Synchronous (Live) Classes
Synchronous (live) classes may be delivered in person, in a Flexible Learning space, or online through a Seneca web conferencing platform such as MS Teams or Zoom. Flexible Learning spaces are equipped with cameras, microphones, monitors and speakers that capture and stream instructor and student interactions, providing an in-person experience for students choosing to study online.

Students joining a live class online may be required to have a working camera in order to participate, or for certain activities (e.g. group work, assessments), and high-speed broadband access (e.g. Cable, DSL) is highly recommended. In the event students encounter circumstances that impact their ability to join the platform with their camera on, they should reach out to the professor to discuss. Live classes may be recorded and made available to students to support access to course content and promote student learning and success.

By attending live classes, students are consenting to the collection and use of their personal information for the purposes of administering the class and associated coursework. To learn more about Seneca's privacy practices, visit Privacy Notice.