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Phase 2 ip 1000 to 1200 words (See can you get this link It will give you the answer , I just need someone to do it for me.  http://ctuadobeconnect.careeredonline.com/p8kqu967jzh/?launcher=false&fcsContent=true&pbMode=normal

Suppose that there are two products: clothing and soda. Both Brazil and the United States produce each product. Brazil produces 100,000 units of clothing per year and 50,000 cans of soda. The United States produces 65,000 units of clothing per year and 250,000 cans of soda. Assume that costs remain constant.

·         What would be the production possibility frontiers for Brazil and the United States?

o    Without trade, the United States produces 45,000 units of clothing and 150,000 cans of soda.

o    Without trade, Brazil produces 75,000 units of clothing and 30,000 cans of soda.

o    Denote these points on each other’s production possibility frontier.

·         What is the marginal transformation rate for each country?

o    Should the two countries specialize and trade?

o    If so, who has the comparative advantage in what product?

o    Once they specialize, how much does output increase?

·         What are the terms of trade if the United States trades 1 can of soda for 5 units of clothing?

o    Are the consumers in each country better off?

·         What is the labor-intensive good?

·         What is the labor-abundant country?

·         What is the capital-abundant country?

·         Could trade help reduce poverty in Brazil and other developing countries?

·         How do product and factor prices and wages eventually equalize between the two countries?

This is how the teacher want Phase 2ip assignment to look.

ECON 310

Phase 2 IP Assignment

The assignment posted on the CTUO site for the Phase 2 IP is confusing. Accordingly, I have rewritten it to be clearer. Please answer the questions on this sheet using the starting point information below:

The following chart displays the possibilities for both the U.S. and Brazil in the production of clothing and soda.

Assignment:

1.      Draw each country’s production possibilities frontier.

(HINT: see http://www.youtube.com/watch?v=nk7FJXFr_2cfor a guide to draw a production possibilities frontier using a spreadsheet software).

2.      What is the marginal transformation rate for each country? (These are the opportunity cost functions that I discussed in the chats – i.e., 1C = ___S and 1S = ___C). Show these for both countries. Thus, tell me the marginal transformation rate for the U.S. versus Brazil for 1C and then tell me the marginal transformation rate for Brazil versus the U.S. for 1S).

3.      Should the two countries specialize and trade? Explain why or why not.

4.      If so, who has the advantage in producing what product? Is this setup an example of absolute advantage or comparative advantage? How did you determine this answer?

5.      Once they specialize, what will be total world output of clothing? What will be total world output of soda?

6.      Note that without trade, total world output of clothing = 45,000 + 75,000 = 120,000 and total world output of soda = 150,000 + 30,000 = 180,000. With specialization, by how many units will total world output of clothing increase? By how many units will total world output of soda increase?

7.      What are the limits of the terms of trade for 1C and for 1S? (I showed you how to do this in the chats).

8.      If the actual terms of trade end of being, 1C = 5S, are these terms “fair” for both countries? If so, why? If not, which country benefits from these terms and which country is actually hurt by these terms (relative to just producing by itself)?

9.      Of the two goods, food and soda, which do you think is more labor-intensive with regards to production? Why?

10.  Of the two goods, food and soda, which do you think is more capital-intensive with regards to production? Why?

11.  Based on your answers to questions 9 and 10, which country is relatively more labor abundant? Which country is relatively more capital abundant?

12.  Explain how trade can help reduce poverty in Brazil and other developing countries?


 

For your paper, please write the question number in bold underline and then write your answer below this heading. For example, I would like your paper to look as follows:

 

Phase 2 IP Assignment

Your Name

QUESTION 1:

(your answer – note for this question you will just copy and paste your graphs)

QUESTION 2:

 (your answer)

QUESTION 3:

 (your answer)

And so on for all 12 questions

 

 

 

 

Phase3 DB 400 to 600 words

The importance of trade continues to be a topic that is debated because the gains are not always quantifiable by those involved. An article by Ed Crooks published on January 6, 2011, "America: Riveting Prospects," discusses why American companies are sometimes opposed to exporting.

Using your search engine type "America: Riveting Prospects" by Ed Crooks, published in the Financial Times on January 6, 2011. You will notice several options under this title, chose the link that is provided by the Financial Times. There is a free version of this article through the search engine. Avoid going directly to the article’s web address as you will be prompted to subscribe to their membership. Subscription payment is not necessary to review this article.      

Summarize why the author claims that U.S. companies are still having issues with exporting, and discuss the following:

·         The five reasons that Crooks outlines in his article

·         Whether you agree with  The Economist's viewpoint or with  The Industrialist's viewpoint

Phase 3 ip 1000 to 1200 words

As a business owner, you need to approach the issue of globalization and trade in context. With all the complicated tariff and nontariff trade policies, organizations, and government involvement, the important question to ask is why the United States maintains certain economic policies.

Consider the following questions:

·         Research where you would find the U.S. international trade policies and their history as they apply to various industries.

o    Chose two industries, and focus on those.

·         Do the economic trade policies today help or hurt business owners and laborers?

o    Is the automobile industry protected?

o    Is it considered an infant industry?

o    What tariff policy is in place for automobile manufacturers?

o    What type of administered protection is in place, if any?

o    Compare the automobile industry to the two industries you chose to research.

·         How could the state or local representative help or hurt a business owner in the era of globalization?

·         How did the policies for manufacturers of automobiles evolve? For example, what influences do the following organizations have on business owners, and what is their history?

o    The World Bank

o    The IMF

o    GATT

o    The European Union

o    NAFTA

o    The Doha Round

·         Does NAFTA affect the automobile industry's decisions on what to do with labor costs? Capital costs? If so, how? Was this trade agreement good for the United States from an economic standpoint? Was it good for Mexico from and economic standpoint?

 

This is how the teacher want Phase 3ip assignment to look.

ECON 310

Phase 3 IP Assignment

The assignment posted on the CTUO site for the Phase 3 IP is very broad. If you answer all of the questions in the original assignment, the result could be a long but shallow report. I would instead like you to study the formation and implication of the following four most important trade agreements of recent history:

1.      GATT

2.      The European Union

3.      NAFTA

4.      The Doha Round

Research each of these organizations/agreements. Then, write a paper describing each of these agreements in detail – specifically, their formation, significance and impact on trade among the partners and with regards to the rest of the world. End your description of each by telling me (in your opinion), has the organization/agreement resulted in trade creation or trade diversion (and why).

This is all that you need to do for your Phase 3 IP; however, note that these organizations/agreements are significant and it will take you some time to learn about them and good organizations skill to summarize in a paper.

 

Phase 3 IP Assignment

Your Name

GATT:

Three to four paragraphs as described in paragraph 2 above

The European Union:

Three to four paragraphs as described in paragraph 2 above

NAFTA:

Three to four paragraphs as described in paragraph 2 above

The Doha Round:

Three to four paragraphs as described in paragraph 2 above

 

 

 

 

 

 

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