International Trade – Economics of International Trade

Economics of International Trade

To begin with you have learned about trade models and what motivates people to trade, going back centuries, up to these days. These academic theories should enable you to analyze current events and anticipate what is to come, particularly in the fields of trade, economics and transportation. If you look at history, inventions, natural events and shocks – of a social, health and/or economic nature – have influenced trade, positively or negatively. A series of inventions in the 18th century made trade central to the development of many areas in the world. In the 19th century the Industrial Revolution expanded it. In the 20th century trade focused on the free movement of goods and services, championing globalization.

Further Description

Looking at the 21st century, the Information Revolution seemed to consolidate and enhance the established trends. Lately however three crises – health, economic and climate – have affected the world, all at the same time. Please reflect on the impact that the current events will have on trade – the way we have come to know it – and on the way our children will live their lives going forward. Are these events going to change our lifestyle permanently or we are dealing with a passing phenomenon; what aspects of the past will survive; what instead will change substantially and perhaps irreversibly. How concepts such as ‘supply chain’, ‘autocracy’, ‘global demand’, ‘transportation’, ‘communication’, ‘artificial intelligence’ – to mention just a few, but by all means not all. May also be re-interpreted in the future.

In your paper apply your critical thinking and take positions. Outline your opinion on the issues and substantiate your position with data, facts and events. Remember: this course deals with trade among countries. Governments, inexorably driven by politics, manage this economic activity. Do not at any time indulge in political considerations, either as a base or for the conclusive findings of your paper. Your analysis and conclusions should be driven only by economic considerations of trade theory and models, as you have studied, as you are presently witnessing or may imagine will characterize the future. The Format and Delivery Instructions. You will prepare an 8-10 page paper. Double space, in 12-point font, with 1” margin on all sides. Supplemental exhibits and figures may be included as appendices. The page limit serves to encourage you to prioritize the material you wish to include in the final document

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