There are two parts to this assignment.
- WHY NATIONS PROTECT THEIR INDUSTRIES
Read the section in your text called “Why Nations Protect Their Industries” starting on page 146. (In the ECO 615 Unit 3 Lectures, its starts from page 9). After reading that section, go to the World Trade Organization website and find Trade Topics. You may select any product that has been in a dispute but it might be interesting for you to perform a search on the “Find Disputes” section. Even something as innocuous as apples have been involved in disputes. Then, go to the library and find three articles from peer-reviewed journals to include in your analysis.
Your report must discuss each of the following topics, however, you will find that at least one of the arguments will apply to the dispute you selected from the WTO website. Define and discuss all four arguments, but be sure that you select the one that is most applicable to the product that you selected and explain why it is applicable.
- The Labor Argument,
- Infant Industry Argument,
- National Security Argument,
- Retaliation Argument,
- The assignment is to create a 3-5 page analysis utilizing three selected peer-reviewed journal articles. (Hint: Can you tie this into your final project research?) The final research topic here is the: The Implication of Global Health Challenges. You should strive to produce an analytical essay addressing the writing prompt.
- Ask yourself: Can you distinguish between the four main groups of arguments used to justify protection or particular industries? Which are economic and which are noneconomic?
2- Quantitative Analysis
Graph the supply and demand of a good that is both produced domestically and imported.
Assume that the country is not large enough to affect the world price. Some examples are beer, wine, cheese, and steel. Illustrate the effects of a tariff on imports. Discuss the following:
- Income distribution effects
- Resource allocation effects
- Domestic production and consumption effects
- Government revenue effects
- Price of the good effects
For the essay portion, the recommended format for your paper is below:
- Cover page
- A thesis statement
- Purpose of paper
- Overview of paper
- Body (Cite sources using in-text citations.)
- The Labor Argument
- The Infant Industry Argument
- The National Security Argument
- The Retaliation Argument
- Conclusion – Summary of main points (from the body)
- Lessons Learned and Recommendations
- References – List the references you cited in the text of your paper according to APA format.
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