International Trade - Eco 471

ECO471: Final Question Framework

What are the major lessons that you have learned about international trade theory and policy? Your answer must be closely linked to the models and concepts discussed in class. You might also use examples or illustrations in your answer. This is an open question, but I do expect a coherent and theoretically grounded answer.

· Introduction

· Definition of international trade theory

· Definition of international policy

· Chapter 1 Powerpoint, Slide 5

· Few sentences about the major models and concepts in the answer

· 1st Paragraph (Gravity Model)

· Chapter 2 powerpoint, slide 5 – 8

· Chapter 2 powerpoint, slide 10 – 13

· 2nd Paragraph (Ricardian Model)

· Chapter 3 Powerpoint, slide 3-5

· Chapter 3 powerpoint, slide 24 -38

· Chapter 3 powerpoint, slide 39 – 43

· 3rd Paragraph (Hecksher-Ohlin Model)

· Chapter 5 powerpoint, slide 2 – 3

· Chapter 5 powerpoint, slide 16 – 21

· Chapter5 powerpoint, slide 22 – 25

· Chapter 5 powerpoint, slide 26 – 29

· 4th Paragraph (Economies of Scale)

· Chapter 7 powerpoint, slide 4 – 12

· Chapter 7 powerpoint, slide 15 & 19

· Chapter 7 powerpoint, slide 20 - 21

· Chapter 7 powerpoint, slide 22 – 27

· 5th Paragraph (Monopoly & Dumping)

· Chapter 8 powerpoint, slide 8 - 12

· Chapter 8 powerpoint, slide 39 – 43

· 6th Paragraph (Import Quota)

· List all of the Instruments of Trade Policy

· Define Import Quotas

· Chapter 9 powerpoint, slide 38 – 40

· Chapter 9 powerpoint, slide 47

· 7th Paragraph (Cases for Free Trade)

· Personal opinion on free trade prior to taking class

· Chapter 10 powerpoint, slide 3 – 10

· 8th Paragraph (Case for Floating Exchange Rates)

· Personal experience at the WTO

· Chapter 19 powerpoint, slide 37 – 43

· 9th Paragraph (EU not an optimum Currency Area)

· Chapter 20 powerpoint

· Conclusion

· Mention the views that you still hold and the views that changed

· Go over major lessons learned