Led by Richard Cobden Simulacrum
About this course
Richard Cobden fought the Corn Laws and won, arguing that free trade was not merely an economic policy but a theory of peace — when nations trade, war becomes self-destructive. This module covers the complete globalisation curriculum of IGCSE Commerce 0715: the benefits and challenges of international trade, the calculation and interpretation of Balance of Trade and Balance of Payments, free trade theory, trading blocs and trade restrictions, sources of exporter support, and global supply chain management including upstream/downstream structure and the six categories of supply chain risk. Richard Cobden Simulacrum leads.
Led by Richard Cobden Simulacrum
The question
Why do nations trade, and what stands in the way? Richard Cobden Simulacrum covers the five benefits of international trade and the challenges facing exporters and importers, the difference between Balance of Trade and Balance of Payments with calculations from given figures, the principles of free trade, the features of trading blocs with advantages and disadvantages of membership, the three types of trade restriction (tariff, quota, embargo) and their commercial effects, sources of support for exporters, simple and complex global supply chain structures, and the six categories of supply chain risk with the importance of risk assessment.
Outcome
The student can explain international trade benefits and challenges, calculate Balance of Trade and Payments, describe trading blocs and trade restrictions, and assess global supply chain risks. (Module 3 — Globalisation of Trade)
Sub-units