Question 1:
a) Explain, with the use of instances, what is meant by the ‘Factor Endowment Theory’.
b) According to you, can the ‘Factor Endowment Theory’ be a reasonable description of the pattern of world trade nowadays?
Question 2:
a) Identify and describe any 3 kinds of non-tariff barriers (NTBs).
b) According to you, are tariffs or NTBs more distortionary to trade?
Question 3:
a) Illustrate and discuss the principle of ‘Liberalisation’ and ‘Non-discrimination’ as lay down by GATT 1947.
b) According to you, are these principles advantageous for developing countries (including least developed countries)?
Question 4:
The Trade Related Aspects of Intellectual Property Rights (TRIPs) agreement has largely affected global trade since 1995.
a) Illustrate what intellectual property rights are and why they are applied.
b) Discuss and explain why NGOs have been protesting against the inclusion of TRIPs agreement into World Trade Organisation (WTO) rules.
Question 5:
a) Describe and discuss the different phases in the regional integration process.
b) Discuss why regional integration has become so prominent in last decades.