International Trade homework
ECON 4431W – HOMEWORK ASSIGNMENT I – Spring 2024
 
QUESTION 1 (20 points)
 A. (14 points) Give information on U.S. international trade in goods and services from 2001 -2023. Please write at least 7-10 sentences for each section below. Give details on changes in: 1. 2. 3. 4. Volume of trade, and reason for the change Top trading partners in goods in 2001 and in 2023; reasons for change Growth in Services trade, and the reasons for the growth Trade barriers set up by the US since 2015. Please give your answer according to the questions asked. Number your answers as 1,2,3,4. B. (6 points) What are the current TRADE issues facing USA today? Give three most important issues (number them as 1,2,3). How would you solve them? Instructions: Give sources of data and information.
 
 
 
QUESTION 2. (Total 10 points) Find ONE international economics news item (in January 2024 only) in a reputable newspaper or magazine. (Make sure the news is internationalpertaining to trade; and does not involve the US) A. (7 points) What is (or what will be) the effects of this international event on the U.S. economy? Explain clearly and give at least THREE effects on the United States. Number them as Effect 1,2, 3. (Write a few sentences for each) B. (3 points) What will be the effect of this event on you personally? Instructions: Attach the article to your answer and mention the source.
 
 
 
QUESTION 3 (10 points) Write a 2-3 page answer: Write an essay on: Effects of the Russia-Ukraine war on WORLD TRADE in 2022/23. Mention effects on both these countries AND effects on world trade. Give data. What are effects on the US economy.
 
QUESTION 4 (10 points) Write a 2-3 page answer: Write an essay on: Effects of the BRICS enlargement on WORLD ECONOMY. Present graphically on BRICS countries as share of global GDP or global trade. Comment on effects of dedollarization on world trade patterns. What are effects on the US economy. Give your sources. Make sure they are reputable. These can include: peer-reviewed journals, government agencies’ websites, research think-tanks, professional organizations, international institutions, major newspapers and magazines. Reputable news sources require all content to be fact-checked before publication.