Discuss why countries impose trade restrictions if ‘free trade’ is the best policy. On the basis of economic theory explain why the WTO is a good idea. Analyse also why WTO negotiations in the past
MSC – Masters programmes
Module: – International Economics
Need a distinction in this!!!
2014 – 2015
1) Discuss why countries impose trade restrictions if ‘free trade’ is the best policy. On the basis of economic theory explain why the WTO is a good idea. Analyse also why WTO negotiations in the past had experienced difficulties.
Write about: briefly the impacts, advantages and disadvantages of:
TRIPs, TRIMs, GATs RTAs with EXAMPLES and benefits of trade and justify your answer
It is VERY Important to mention some theorists for example:
Classical theorists:
ADAM SMITH
DAVID RICARDO
Also a simple argument about the opposite side of trade just to balance the argument:
BHAGWATI
KRUEGER
BE CRITICAL
In introduction, start with brief presentation on WTO.
Use economic theories to explain trade liberalisation
Explain the problems and challenges faced by WTO.
Discussions should also include critical analysis of Doha Round between the developed and developing countries points to the idea that actually for some countries no deal was better than the deal on offer.
Word Count: 5000 words, excluding References
The critical issue for marking with whether you have answered the question directly and critically analysed the relevant material in your answer.
Structure of the assignment –
1) Introduction – outlines, your intention – (10% marks) – be brief
Background information on the topic/question
2) Main body/ main discussion area – (80%marks)
Materials in this section
• Effective argument, analysis of the theories, referencing, critical analysis
• Have you referred to the appropriate authors? Using interesting authors that you have read whose ideas you want to use.
• Books, journal articles,
• Examples, case studies – Have you included appropriate facts, statistics or examples?
• Do not plagiarise – minimum/brief quotation, (e.g. author’s name, year, provide page number etc)
• Your findings, your opinion
3) Conclusion – (5%) – brief conclusion
Is your conclusion convincing and does it fit with your earlier analysis?
The conclusion should give a brief summary of the work (1-2 paragraphs) and make the concluding comments.
4) Reference List – (5%) ONLY JOURNALS no websites, and referenced in APA 6th edition
all the sources you have cited in the text at the end in references/bibliography (APA 6th edition)
Starting point Reading Lists for Assignment Question
The text books identified in the reading list that you were given at the beginning of the year can all be used. Therefore if you go to any of the books in the library entitled “International Economics” you will find much to help you write and research for any of these essays. However some may be too technical in their use of, for example, mathematics. You are not expected to be so technical.
This reading list is supposed to help to direct you towards the right work. You do not have to read everything on this reading list – and if you find relevant work that I have not included in this reading list, I encourage you to use it. For example there are articles on blackboard that are not on this reading list that you may also find helpful.
Bhagwati, J. Free Trade Today (Princeton UP,2002)
Chang, H-J. Bad Samaritans (Random House, 2007)
Das, L., B. An Introduction to the WTO Agreements
(Zed Books, 1998)
Dunkerley, G. Free Trade: Myth, Reality and Alternatives (Zed Press, 2004)
Grimwade, N. International Trade: New Patterns of Trade, Production and Investment. (Routledge, 2nd ed, 1999)
Hoekman, B. The Political Economy of the World Trading System – the WTO and beyond. (OUP, 2001)
Irwin, D. Free Trade Under Fire (PUP,2002)
Milner, C. & Read, R.(eds) Trade Liberalization, Competition and the WTO, (Edward Elgar, 2002)
McCulloch, N, Winters, L.A Trade Liberalization & Poverty: a Handbook
& Cicera, X (CEPR, 2001)
Schott, J.(ed) The WTO After Seattle (IIE,2000)
Shukla, S.P. “From the GATT to the WTO and Beyond” Nayyer, D. (ed) Governing Globalization. (OUP, 2002)
Sodersten, B & Reed, G International Economics (Macmillan, 3rd ed, 1994)
Strange, S States and Markets: Intro to International Political Economy (Pinter, 2nd ed, 1994)
Winters, L.A International Economics (Harper Collins, 4th ed, 1991)
Van Marrrewijk, C International Trade and The World Economy, (OUP,2002)
Zhang, Ka (ed) China’s Foreign Trade Policy (Routlledge, 2007)
Websites:
http://www.bilaterals.org/
This has a variety of articles on the topic e.g. the following on Malaysia: http://www.bilaterals.org/article.php3?id_article=6472
http://www.eldis.org/
This is a data base of articles and sites.
http://www.oxfam.org.uk/what_we_do/issues/trade/index.htm/
This is an example of an excellent NGO website. Use any analysis you find here that helps. BUT this essay is not supposed to be emotive or political. It is about the economic logic of the situation. Although of course the problems associated with economic models can be highlighted by adequately researched empirical material.
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