ECOn 6 7 8

ECO202 – Microeconomics

Unit 8 Assignment: International Trade

Due: Sunday by 11:59 pm at the end of Unit 8.

International Trade

Think of the importance of trade in your life. Look simply at what you’re wearing today.

When you shop, do you look for the “Made in the USA” label? Perhaps you believe we might

be better off as a nation economically if we produced more goods in the attempt to become

more self-supportive. Perhaps you believe we should increase the amount of goods traded

internationally. Opinions and speculation vary as much as the number of economists that

predict economic climate. Having said this, as a nation, simply put, we trade. And with that

activity come many rules and regulations to try and ensure our best interests are protected.

Based on this;

1. How is international trade regulated? Log on to www.wto.org and click the “Trade Topics” tab to

learn about the scope of trade agreements and trade controversies. What is involved in “trade

agreements”?

2. Log on to www.bea.gov and view the “International” tab, then “Trade in Goods and Services.”

What is the current balance of trade for the United States? Has this balance been increasing or

decreasing? Based on the current economic conditions, how do you thing this balance will move in

the near future, and why?

Your final product will be a paper that:

 Addresses each of the four questions above in total.

 Is APA formatted.

 The body is to be 2 pages minimum.

The requirements for your assignment are:

1. Answer each question fully

2. Define the overall subject of each question.

3. Cite at least three (3) resources from this week’s materials.

Students: Be sure to read the criteria and review the grading rubric on the next page, by

which your paper/project will be evaluated, before you write, and again after you write.

Evaluation Rubric for Unit 8 Assignment

CRITERIA Deficient Proficient Exemplary Points

Earned

Overview of the

Topic 0-13 Points

Does not provide an

adequate overview

or is missing.

14-27 Points

Overview is

presented, though

may not be clear or

complete.

28-40 Points Overview is clearly

presented including

all criteria outlined

above.

Complete

Answers 0-11 Points Questions

unanswered and/or

poorly answered.

12-23 Points All questions

answered with 1-2

sentence inputs.

24-35 Points

All questions

answered with depth

and clarity.

References to

Course Materials 0-5 Points Less than 3

references, no

assimilation to the

questions.

6-10 Points 3 references,

minimal

assimilation to the

questions.

11-15 Points 4 or more references

and assimilations

show depth and

clarity.

APA Format 0-1 Point Format has errors

that impede

professional

presentation; and/or

APA not followed,

reference page

missing.

2-3 Points APA format and

reference page has

few errors that do

not impede

professional

presentation.

4-5 Points APA format and

reference page is

clear, professional,

and error free.

Writing Quality 0-1 Point More than 7 writing

errors, to include

spelling and

2-3 Points More than 4 writing

errors, to include

spelling and

4-5 Points No writing errors.

punctuation. punctuation.

Total 100