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Semester Essay

Semester Essay

Q ECON 2010 Semester Essay 100 Points This assignment covers material Chapter 21 and is due Sunday at 11:59PM at the end of Module 5. All work must be in MLA style, with proper citations. Do not use Wikipedia, e how or the like as a source. Please answer this on a Word document or a PDF and upload into the Module 5 Assignment Portal Read the following material from the text: Read Section 21.1 Protectionism Read Section 21.2 International Trade and Its Effect on Jobs, Wages and Working Conditions Read Section 21.3 Arguments in Support of Restricting Imports 1. Write an essay that contains the following information: 1. Identify 3 major trade barriers. Define them and explain what they are and how they work. 2. Analyze 2 positive aspects of trade barriers and 2 negative aspects of trade barriers. Look closely at which groups in society are helped and which are harmed. 3. Identify whether you believe that trade barriers are, overall, beneficial to the economy or whether they harmful to the economy; Explain the reason for your position. This explanation should be based on economics, not political opinion. Include some topics from Modules 1-4 into your analysis: comparative advantage, opportunity cost, and supply/demand, for example 2. Your essay must use at least 3 sources. Use only academic sources. The Textbook the textbook counts as one source. Do not use Wikipedia, answers.com, etc. (Wikipedia can lead you to sources, but don’t use it as a source). 3. Your essay should follow MLA. 4. Your essay should follow the rules of grammar and be free of typos. 5. Your essay should be at least 500 words. 6. Be sure to include a reference page (not included in the 500-word requirement). 7. Upload the paper into Canvas. Grading Rubric: 25 Points for accurate identification and description of trade barriers (part a) 25 Points for analysis of the positive and negative aspects of trade barriers. 25 Points for conclusion and analysis as to whether they are positive or negative. 25 Points for grammar, writing, clarity, organization and compliance with MLA This assignment addresses Course Learning Objectives 6 and 7. This assignment assesses the following Module Learning Objectives:

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Trade Barriers and Its Economic Implications We are living in the age of globalization. Here, entire world is like a global village. International trade a observing a boom. Despite all these things, trade barriers still exists and it has different implications. “When a government legislates policies to reduce or block international trade, it is called trade barrier. The purpose of trade barrier is to shield domestic producers and domestic workers from foreign competition. These barriers can take three main forms: tariffs, import quotas, and nontariff barriers” (Greenlaw et al. 498).