Is free trade the best economic policy that countries can adopt or is protectionism ever justified? Discuss.

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Is free trade the best economic policy that countries can adopt or is protectionism ever justified? Discuss.

Coursework. Write an essay of 3000 words on any one topic out of the list of topics

given below.

1. Is free trade the best economic policy that countries can adopt or is protectionism ever justified? Discuss.

References to get started:

⋆ Krugman P.,1987,“Is Free Trade Passé?”, The Journal of Economic Perspectives, Vol. 1,

No. 2 (Autumn, 1987), pages 131-144.

2. How well does the Ricardian model explain world trade patterns? Discuss.

References to get started:

⋆ Golub,S. and Hsieh,C.T., 2000, “Classical Ricardian Theory of Comparative advantage

Revisited”, Review of International Economics, Vol. 8, No.2, pp. 231-234.

⋆ Balassa, B., 1963, “An Empirical Demonstration of Classical Comparative Cost Theory”,

The Review of Economics and Statistics, Vol.4, pp. 231-238.

3. Discuss the empirical evidence behind the Heckscher-Ohlin model of international trade.

References to get started:

⋆ See the .pdf file “Heckscher Ohlin Model Empirical Evidence” on the UEA portal under the folder “References”.

4. Examine the costs and benefits of the United States import protection of sugar for a) the United States and also for b) exporters in the developing world .

References to get started:

⋆ Feenstra R.C.,1992, “How costly is Protectionism?”, Journal of Economic Perspectives, Vol. 3, pp. 159-178.

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