Homework: International Economics
Instructions
Throughout the course, you have learned about different aspects of international economics. For this homework, you will be applying what you have learned to complete a final, comprehensive homework.
Research a region that is moving toward greater economic integration (possible examples: North American countries, the African Union, and the Gulf Cooperation Council among many others). Then, compose a paper that encompasses the following elements that are listed below.
a. Graphically display patterns of trade among the countries in the region. This can be done with a pie chart or whichever type of chart or graph you find most appropriate.
b. Describe the degree of economic integration in the region.
c. Define a free trade area, and apply that definition to your chosen region.
d. Use two countries from the region and apply the factor-endowment model of trade to the expected trade patterns.
e. Use the same two countries and assess how external economies of scale will affect the countries (i.e., which industries will be affected and how).
f. Discuss recent changes in trade policy for the region (and/or changes that are likely to take place in the near future).
g. Discuss the role international trade has played in the economic development of countries in the region.
h. Apply the criteria for an optimum currency area to the region.
Format your homework according to the give formatting requirements:
a. The answer must be double spaced, typed, using Times New Roman font (size 12), with one-inch margins on all sides.
b. The response also includes a cover page containing the title of the homework, the course title, the student's name, and the date. The cover page is not included in the required page length.
c. Also include a reference page. The references and Citations should follow APA format. The reference page is not included in the required page length.