1.  Be able to write an essay about the policy arguments and counter-arguments about trade, and (only after tracing some arguments and counter-arguments) to note where you stand (perhaps qualifying your stance -- most of us are not for or against international trade in every single incidence, but may have more concerns about the conduct of trade in certain sectors, with certain countries....).  Since the basic, neoclassical theory of trade suggests that free movement of goods and services is always a benefit to the system (well, so long as there are internationl differences in factor endowments), explain what assumptions of the theory are not being met, in the cases where you have concerns about the conduct of trade.

2.  Be able to identify what's sold, what the seller receives, the benefits to the seller, and the shortcomings for the seller, for international exporting, licensing, franchising, FDI (joint venture) and FDI via a wholly-owned subsidiary (see lecture notes).  (Note:  there can be market-oriented or supply-oriented FDI;  for this question, assume market orientation:  the "seller" produces something that may have some demand in a foreign country.)

3.  Be able to articulate the OLI model (a.k.a. "the eclectic theory") of international business, and to use it to illustrate conditions under which a company should choose to export to, import from, license to, or own an operation in a foreign country.

4.  What do host countries generally want from FDI?  What circumstances allow a host country to maximize its benefits in negotiations?  (Lecture notes)

5.  Be able to distinguish the "levels" of (regional) economic integration.

6.  How should economic integration affect:  prices of traded products in the trading partners?  trade flows?  factor prices?  What circumstances encourage trade creation after integration?  What circumstances encourage trade diversion after integration?

7.  Be able to respond to the questions below, based primarily on the Curtis and Ciuriak article, and secondarily on in-class discussions and your own thoughts:

a. What is to be gained economically from a new round of multilateral trade negotiations?
b. Why and how does this differ from earlier rounds?
c. Why are trade negotiations receiving ever increasing scrutiny and opposition around the world?
d. Curtis and Ciuriak conclude that a new round is worthwhile:  why, and under what conditions?

9.  In what ways (at least two) have the Uruguay Round of the GATT, and the WTO which those negotiations developed, gone beyond "tariffs and trade"?  Why?  With what implications?  [Bello;  6 May discussion]

10.  Bello argued a temporal and causal relationship among the formation of OPEC, the [Latin American] debt crisis, the end of the Cold War, the reorientation of the IMF toward strategic adjustment, and a consequent shift in the balance of political power between wealthy and poorer countries.  Please explain.

11.  What three structural problems in North-South trade did Paul Prebisch emphasize?  What solution did he propose for each?  [Bello]

12. What was the original purpose of each of the three major international economic institutions:  the IBRD (World Bank), IMF, and GATT?  How did each operate?  [Clement et al.;  Stiglitz].  How have the purposes and operations of each changed?  Why?  [Stiglitz;  Bello]

13. Is there an imbalance of power in international trade negotiations?  (Consider “imbalance” among countries, and/or among actors, and/or among interests).   Explain why you think the answer is yes or no, for each domain (countries, actors, and interests).  What allows or causes the imbalances (where you think they exist)?  What maintains the balance of power (where you think that exists)?  What measures would ameliorate the imbalances (where you see imbalance)?  What measures would protect the balances (where you see a balance)?