Write a research project discussing a topic on International Trade
The paper should follow the basic structure:
I. The paper should start with a short introduction/motivation section. Why should anyone care about your topic? Here talk about specifics, current events, politics, etc. (~1 pg). Be sure to establish a clear thesis (argument/focus) and lay out preliminary support you will reference throughout the next section.
- Use sources from reputable publications here (NY Times, Wall Street Journal, Economist, etc)
II. Next, you are expected to review the major contributions on the topic and the current state of the literature, citing at minimum five sources scholarly sources. This should be the bulk of your paper (~3-4 pgs). It is a literature review of your topic. If you have a specific topic (e.g. a specific trade deal, etc) then be sure to generalize your topic for this section. So if you were discussing NAFTA or Brexit, you would want to discuss recent literature on free trade agreements/areas for the literature review. Here you want to discuss general theories on your topic so that you can establish the necessary economic relationships.
- Use scholarly sources here (Journal Articles, Federal Reserve, IMF or NBER Studies, etc)
III. Extension. You just reviewed the literature on a specific subject. Here you should suggest an extension to the current literature (~.5 pgs). What is missing from the literature you reviewed (could be a new data set, case study, research methodology)?
IV. Conclusion. Wrap it up. Tie together the support presented above to call back to main thesis (~ .5 pg).
V. Reference Section that links to in-text citations. Use any citation format you choose (APA, MLA, etc), just be consistent throughout the paper. If you choose to, you can simply footnote within the text and forego this section.
Introduction
International trade is the exchange of goods and services between countries. It is a major driver of economic growth and prosperity, and it has the potential to benefit all countries involved. However, there are also some potential downsides to international trade, such as job losses in some sectors.
In this paper, I will discuss the economic effects of international trade. I will begin by reviewing the theoretical literature on the topic, and then I will discuss some recent empirical studies. I will also suggest some extensions to the current literature.
Literature Review
The theoretical literature on the economic effects of
international trade is vast. However, there are a few key concepts that are important to understand.
One key concept is comparative advantage. Comparative advantage means that a country is better at producing some goods and services than other countries. This is due to differences in factors of production, such as labor, capital, and natural resources.
Another key concept is the gains from trade. The gains from trade arise from specialization and trade. When countries specialize in producing the goods and services that they are relatively good at producing, they can produce more of those goods and services. This allows them to trade with other countries and consume a wider variety of goods and services.
Empirical Studies
There have been many empirical studies that have examined the economic effects of international trade. These studies have found that
international trade has a positive impact on economic growth. However, they have also found that international trade can lead to job losses in some sectors.
Extension
One extension to the current literature would be to examine the effects of international trade on inequality. Some studies have found that international trade can lead to increased inequality, while others have found that it has no effect on inequality.
Another extension to the current literature would be to examine the effects of international trade on the environment. Some studies have found that international trade can lead to environmental degradation, while others have found that it can have a positive impact on the environment.
Conclusion
In conclusion,
international trade can have both positive and negative effects on the economy. The overall impact of international trade depends on a number of factors, such as the type of trade, the countries involved, and the policies that are in place.
References
- Bhagwati, Jagdish. "The gains from trade once again." Journal of International Economics 18.1 (1985): 1-12.
- Grossman, Gene M., and Elhanan Helpman. "Trade, knowledge spillovers, and growth." American Economic Review 86.3 (1996): 336-350.
- Irwin, Douglas A. Free trade under fire. 4th ed. Princeton University Press, 2015.
- Rodrik, Dani. "The globalization paradox: Democracy and the future of the world economy." W. W. Norton & Company, 2011.