Question

The Australian Government Department of Foreign Affairs and Trade (DFAT) is setting up a new, special task force to be known as the Australian National Department of Young Scholarly (ANDYS) Researchers. The purpose of ANDYS Researchers is to have the brightest young minds in Australia develop profile presentations for a range of countries that Australian firms may be looking to expand into. These profile presentations will be vital in providing critical analyses of some of the key issues for Australian firms in their international expansion. As star students from one of the world's best universities in Monash, you have recently been drafted into ANDYS Researchers.

Your first task is to select a country

1. Using relevant concepts and measures, analyse the level of both economic development and human development in your chosen country. As part of your answer, explain which measure (economic or human development) is of greater significance to an Australian firm considering establishing a presence in that country. 


2. Using at least one (1) classical trade theory, identify and explain which industries your chosen country should specialise in when looking to trade with other countries. Should your chosen country specialise in just those industries where it is more efficient than other countries, or in those 2-3 industries that it is most efficient at (regardless of how this compares to other countries)? Justify your choice using theory.

Answer 1