answering two questions in an essay form

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write one essay for each question and each essay should be 5 pages. format: 12 New Times Roman font doubled spaces APA style . questions are located under “essay topics” in the bottom of the page.

I. Basic Terminology: Be able to incorporate as many of of the following basic political economic terms as possible into each of the two essays of choice from the second category. Class lecture notes may be used for defining the listed terms as well as the Charles Wheelan textutal readings.** Do be certain to incorporate other useful data from the Wheelan text, and various suggested scholarly IPE books and articles as well.**

The WTO, NAFTA, and GATT

NIC’s and example nations

Welfare and Distributional Consequences

Explanatory and Evaluative Studies

Welfare Evaluation

Liberalism(Economically defined)

The Philosophies of Adam Smith and David Ricardo

Marxism

Interests and Material Interests

Political Institutions

Market Liberalism

MFN & GSP

National Treatment and Nontariff Barriers

Customs Union

Dispute Settlement Mechanism

The Doha Round

Free Riding and Free Trade Area

Generalised System of Preferences

Hegemon and Hegemonic Stability Theory

Intergovernmental Bargaining

Ministerial Conference

Nondiscrimination

Public Good

RTA

Tariffs, Trade Creation, and Diversion

Bargaining

Contract Curve

Enforcement Problem

Factor Endowments

Hecksher-Ohlin Model

Nash Equilibirium

Outside Option

Pareto Suboptimal

Patience

Reciprocity

Collective Action Problem

Export-Oriented Sector

Factor Mobility and Model

Factor-Price Equalisation

Import-Competing Sector

Majoritarian

Proportional Representation

Reciprocal Trade Agreements Act

Sector Model

Specific Factors

Stolper-Samuelson Theorem

Veto Player

Economics of Experience

Economics of Scale

Industrial Policy

Infant-Industry Case for Protection

Oligopoly

Rents

State Strength

Strategic-Trade Theory

Backward Linkages

Big Push

Complementary Demand

Easy ISI

Enclave Agriculture

Export Substitution Strategy

GATT Part IV

Generalised System of Preferences

Group of 77

Import Substitution Industrialisation

Monoexporters

New International Economic Order

Pecuniary External Economics

Secondary ISI

Singer-Prebisch Theory

Structuralism

Terms of Trade

United Conference on Trade and Development

LIBOR

Central Banking

Equity Market Bubbles

“Toxic Assets”

Lehman Brothers and Bear Stearns

Paul Volcker

II. Essay Topics:

 – What is the global economy? Illustrate and explain its’ evolution. Is it good, bad or a bit of both?

  – What factors are needed to create successful trade and developement? Will these factors contribute to economic well being? Explain

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