Evaluate how US trade policy changes in the last 2 years affect global trade activities by multinational corporations.

International Trade Summary

Promoting international trade is not a zero-sum game. It is a win-win proposition; both parties gain from trade.

Consider the following:

Tariffs are paid by the citizens of the country imposing tariffs, not by the citizens of the country producing the products upon which the tariffs are levied.
The term “trade deficits” is a misnomer. Every country’s trade is always in balance.
Trade deficits do not mean the US no longer produces anything to export. The US is the world’s second largest manufacturer and the world’s second largest exporter of manufactured goods.

Trade deficits reflect a strong economy. Trade deficits rise during economic expansions and fall during economic contractions. Unemployment falls as trade deficits rise and rises as trade deficits fall.

Imports and exports are complements, not competitors. Both are necessary and both contribute to economic growth.
Roughly one-third of all US imports and exports is trade between US multinational companies and their overseas subsidiaries.

Foreign-owned companies operating in the US number in the thousands and provide directly or indirectly jobs for more than 13 million US workers (roughly, 10% of the US workforce).

US trade deficit in goods in 2018 (as a % of GDP) was the same as it was 5, 10 and 15 years earlier.
The rise in US goods trade deficit with China has not increased the US total goods trade deficit. It has been offset by reduced goods imports from other trading partners.
There is a strong correlation between the rise in world trade and:
The rise in world GDP
The dramatic fall in the world’s extreme poverty rate
The rise in world life expectancy

For every US manufacturing job lost to trade between 2000 and 2010, seven US jobs were lost to domestic productivity improvements.Those seven jobs cannot be brought back from overseas because they never left the US.

Write a 700- to 1,050-word evaluation of credible economists’ unbiased opinions on the benefits, costs, and results of current US trade and tariff policies.Complete the following in your evaluation:

Evaluate how US trade policy changes in the last 2 years affect global trade activities by multinational corporations.

Discuss credible economists’ opinions on the long-term effects of trade and tariff policies changes in the last 2 years.

Explain the effect of recent changes to trade and tariff policies have had on your employer, you, or someone you know.

Cite at least 2 academically credible sources.

Format your assignment according to APA guidelines.

What two public solutions to externalities discussed in this course are mentioned in this article as policy options to limit plastic bag use?

This is your second writing assignment of the term. This exercise is worth 10 points with the allocation of points indicated next to each part of the assignment below.Access the PDF on Canvas of the New York Times article “Plastic Bags to Be Banned in New York; Second Statewide Ban, After California” (Links to an external site.)by Mary Alataffer from March 28th, 2019.

Read the article and use it as a starting point for thinking about public policy solutions to a market failure.

After reading,develop a brief (1250 word minimum; points will be deducted for not meeting requirement) essay (typed and double-spaced) that addresses the following questions/ideas:

What two public solutions to externalities discussed in this course are mentioned in this article as policy options to limit plastic bag use?

Discuss the pros and cons of these two policy options from an economic perspective.

What would have to be true of plastic bag use for an outright ban to be the efficient solution? Include a graph as a figure in your paper to support your answer

How would you choose to address plastic pollution in Oregon if you were the governor? Please support your arguments with three (3) pieces of evidence, which must include at least one (1) popular press news article and one (1) academic journal articles.

Use the OSU LibraryLinks to an external site. to search for relevant journal articles to use to support your arguments (I recommend EconLit). You must include your references formatted following the Chicago manual.

Compare similarities and differences between your assigned countries/economies and how their economic, political, and cultural development since 1992 has influenced their economic growth and trade competitiveness.

World Economies Comparison Presentation

Prepare 3 slide presentation:

Introduction slide; Inflation rate over time slide; and Inflation rate over time chart slide

for China vs India (world’s 2 most populous countries)

Compare similarities and differences between your assigned countries/economies and how their economic, political, and cultural development since 1992 has influenced their economic growth and trade competitiveness.

Use tables and/or graphs to support your analysis of the following economic statistics/indicators of your 2 assigned economies through the most recent year available since 2009 (the trough of the last economic cycle). Whenever
possible, plot the metric for both economies on the same chart.

Introduction slide

Inflation rate over time slide and chart slide

Examine who has been helped and who has been hurt by the selected government intervention.

Government Intervention Analysis

Analyze 1 of the following government intervention programs:

Countercyclical fiscal policies (countering economic disruptions such as the housing bubble and the Great Recession)

Write a 700- to 1,050-word summary of your analysis. Identify the intervention and the market failure leading up to the intervention. Complete the following in your paper:

Analyze the arguments for government intervention as opposed to arguments for market-based solutions.Hint:See the information about market failures.
Examine who has been helped and who has been hurt by the selected government intervention.
Examine externalities and unintended consequences of such intervention. For example, consider whether the SNAP program and health coverage for low-income families result in higher future tax revenues because low-income children grow up healthier and produce higher incomes over their lifetimes.
Analyze whether cost of the intervention you selected as a share of GDP or the number of participants is increasing,decreasing, or varies with the state of the economy, based on the cost trend(or number of participants) since its inception or since 2000.
Analyze credible economists’ opinions on the success or failure of the intervention that you chose in achieving its objectives.
Recommend whether the program should be continued as is, discontinued, or modified based on your conclusions. Defend your recommendation.

Note: Use of charts and graphs is encouraged with appropriate citations. Any charts or graphs retrieved from the Federal Reserve Bank of St. Louis FRED website may only be included when the data sources used by FRED are US government sources such as the Bureau of Economic Analysis or the Bureau of Labor Statistics.

Cite at least 2 academically credible sources.

Format your assignment according to APA guidelines.

Resources:

Explain how you viewed or understood the concept before completing the discussions.

Reflection paper

Opportunity Cost, Scarcity, Production Efficiency, Allocative Efficiency, Human Capital, Specialization, Comparative Advantage, Income, Tastes, Prices, Household Budget, Information, Transaction Costs, Utility, Consumer Satisfaction, Profits, Markets, Competition, Market Structure, Labor Costs, Innovation, Entrepreneurial ability, Productivity, Government Regulations, Business Incentives, Economies of Scale, Product Differentiation, Brand Name, Advertising, Market Power.

General Instructions:

Choose one concept from the list above, and write a paper a 500 to 550 word paper (500 words, is the absolute minimum)

You are free to organize and arrange your sentences and paragraphs in any you see fit, but your response MUST at least have the following 5 elements:

It must state and define the concept or idea.

It must explain how you viewed or understood the concept before completing the discussions.

It must explain your new way of viewing, or understanding the concept.

It must say the reason why your perspective, or understanding changed. In other words, what did you do, see, or hear as a result of completing the discussions that helped transform your opinion.

It must have information, data or facts, that supports the reason for your change. The information, data or facts can be presented in the form of an example, or as part of an explanation, but it must be explicitly connected to at least one of the graded discussions.

As you produce your response, you should also consider the following:

The implications of the change in perspective. In other words, now that you see this in this way, what are some of the things that will come after? What will you do differently? What follows? Also, analogies and metaphors are a great way to illustrate how one views a concept or an idea.