Wednesday, September 11, 2013

Macro & Micro economics


International Economics

Project description
Below is the outline that you should follow for the 5-page Writing assignment 1. To fulfill the page requirements for this assignment, each page of writing should be a reasonably full page of writing reflecting your analysis, and not a few lines, or half a page. ALL 5 pages must be full.
Page 1: Describe the carpet production process in India based on the movie clip. Focus on things like
How the production techniques seem to be affected by : a) Resource endowments, b) Social and cultural
characteristics, c) Income levels.
Describe the carpet production process in USA. Focus on things like how the production techniques seem to be affected by : a) Resource endowments, b) Social and cultural characteristics , c) Income levels.
Based on the above analysis, explain your prediction regarding which country should have a higher supply.
Page 2: Search the internet for facts and statistics about the carpet production in India. Provide a half
page summary of your knowledge of the carpet industry to India. Throughout this paragraph, cite the
websites used for all the information in footnotes (CRTL+ALT+F in MS-Word). Do not copy-paste from
any website: synthesize and organize the information from different websites to form your summary of the industry.
Next search the internet for facts and statistics about the carpet production in USA. Provide a half page summary of your knowledge of the carpet industry to USA. Similar to above, cite the websites used for the source of the information, in footnotes. Do not copy-paste from any website: synthesize and
organize the information from different websites to form your summary of the industry.
Page 3: It is evident from real world data that in International Trade, USA is an importer of carpet and India is the exporter of Carpets. Given that Carpet production is relatively more efficient in USA, explain what sort of demand pattern in the two countries would give rise to this Trade pattern.
Explain the reasons for the predicted demand patterns in the two countries.
Next, search the Internet to find what types of Trade policies are being taken by the Indian government regarding their carpet export and provide a brief summary. (Cite sources in footnotes)
Then, search the Internet to find what types of Trade policies are being taken by the US government
regarding their carpet Import and provide a brief summary. (Cite sources in footnotes)
Page 4: Analyze the welfare implications for the producers and consumers in USA and India of an
“import tariff imposed by the government in USA” using the demand supply graphs learned in Chapter 8.
Page 5: Next, starting again from the model of free trade, analyze the welfare implications for the producers and consumers in USA and India of an “export subsidy offered by the government of India”
using the demand supply graphs learned in Chapter 11.
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