international trade
Course Name: International Trade
Course Code: ECON1086
Weight: 25%
Due date: FRIDAY WEEK 3 (August 9) AT MIDNIGHT
Feedback mode: ONLINE.
Learning Objectives Assessed:
Understand how to use data in practical analysis and learn how to write brief reports and policy briefs.
This assessment is linked to the following Course Learning Objectives (CLOs):
· Manipulate economic models to analyse real world issues in international trade.
· Analyse the fundamental determinants of the size and pattern of trade to verify its determinants and its effects on the wider economy/welfare.
· Compare and contrast economic and political conditions in poor and rich countries to critically assess the incentives and consequences of trade liberalisation globally.
· Assess the impact of protectionist policies on the welfare in rich and poor countries to decrypt the political economy of trade reform.
Instructions for submission:
· Click on Submit Assignment .
· Click on Choose File .
· Once you selected your file containing your assignment, click on Submit Assignment at the bottom.
You can submit more than once. Only your last submission will be graded.
Assessment Declaration:
I declare that in submitting all work for this assessment I have read, understood and agree to the content and expectations of the Assessment declaration (Links to an external site.) .
Details:
To answer the assignment questions first get the data follow these steps.
1. This assignment requires you to obtain data from two (2) countries of your choosing over the period 1985-2005.
2. Obtain country-level data on trade (% GDP) and GDP per capita (constant 2010 US$) from the World Bank’s World Development Indicators ( http://databank.worldbank.org/data/source/world-development-indicators (Links to an external site.) (Links to an external site.) ).
3. DO NOT attach Excel files to the assignment.
4. Keep explanations brief. Policy analysis in applied economics has to be brief. Be precise and to the point, avoid jargon.
Questions
*** Follow the instructions above on how to get the data.
*** Read Chapter 1 and/or the notes from Lecture 1 very carefully.
1. In approximately 150 words, describe the economic background of these countries. What region are they in, what do they export, are they rich or poor? (5 marks)
2. In approximately 200 words, explain what type of globalisation does trade/GDP (also called openness) measure. Are there other measures you could have used? Why do think openness is useful when compared to other measures? (5 marks)
3. Using 2 graphs (one for each country), plot openness versus time for each country. Explain approximately 100 words how openness has changed for these countries from 1985 to 2005. Make sure your graph is properly labelled. (5 marks)
4. Explain in approximately 100 words the relationship between openness and economic development by calculating the correlation coefficient between GDP per capita (proxy for economic development) and openness for each of the two countries, respectively. [Here you have to use the CORREL command in Excel]. DO NOT ATTACH YOUR DATA TO THE ASSIGNMENT. (5 marks)
5. Explain in approximately 250 words the factors that you think drive openness in these two countries. What domestic policy changes have driven openness and how have changes the in international economic and political arena affected their main exports? (For example, have shocks increased or decreased the price of their main export in international markets?) [You are expected to undertake research to answer this question]. If you use information, reference it. References do not count in the word count. (5 marks)
The Assignment Brief can be downloaded here
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Rubric
Assignment 1 S2 (1)
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Assignment 1 S2 (1) |
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Criteria |
Ratings |
Pts |
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This criterion is linked to a learning outcomeQuestion 1 (Background) |
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5.0 pts |
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This criterion is linked to a learning outcomeQuestion 2 (Openness definition) |
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2.0 pts |
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This criterion is linked to a learning outcomeQuestion 2 (Other measures of globalisation) |
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2.0 pts |
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This criterion is linked to a learning outcomeQuestion 2 (What we measure) |
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1.0 pts |
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This criterion is linked to a learning outcomeQuestion 3 (Graphs) |
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3.0 pts |
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This criterion is linked to a learning outcomeQuestion 3 (Graph explanation) |
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2.0 pts |
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This criterion is linked to a learning outcomeQuestion 4 (Correlation coefficients) |
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2.0 pts |
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This criterion is linked to a learning outcomeQuestion 4 (explanation) |
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3.0 pts |
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This criterion is linked to a learning outcomeQuestion 5 |
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5.0 pts |
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Total points: 25.0 |