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EC311 – International Economics
Group Project – Counts for 40% of the Final Grade
To be submitted via Turnitin on Monday the 15th of April 2024 at 12:00pm
Maximum THREE Students per Group
Choose ONLY ONE Question
Instructions:
You have the opportunity to work in groups of 3 on this project. You do not have
to work in a group and may complete the project on your own.
Using your knowledge and the different topics covered in lectures, answer only
one questions from the three below and make coherent structured argument.
The maximum word count for this project is 3000 words (+/- 10% should be
fine). The word limit excludes references, and you should clearly specify the
word count in your work.
It is important to reference your work properly to avoid plagiarism. A full list of
references consulted should be provided at the end of the assignment. The
library has some useful guides on writing academic essays and citing references:
http://libguides.reading.ac.uk/essays
http://libguides.reading.ac.uk/citing-references
You should rely on academic sources as far as possible and generally avoid citing
websites such as wikipedia, tutor2u, etc. Instead try to find the original source
from which the material was taken.
The work should include a 200-word non-technical summary at the beginning,
which may be in the form of bullet points or standard text. This does not have to
be included in the final word count.
2
Question One:
According to the gravity model of international trade, the trade between nations
depends positively on the size of the trading nations and negatively on the distance
between them. In light of this statement, discuss (in no more than 3000 words) the
gravity model. In support of your discussion, you will need to:
I. Select a nation(s) and comment on its/their history of international trade. [Hint:
You need to use graphs and tables here in support of your discussion]
II. Highlight any trade agreement (if any) between your selected nation(s). Discuss
the impact of these agreements on trade.
III. For your selected nation(s), review some of the empirical studies that determine
the other factors affecting the trade between nations beside the size and
distance.
Question Two:
We have seen that free trade maximises the world’s output and benefits all nations.
However, in real life, all nations impose some restrictions on the free flow of the
international trade either to protect their domestic industries or to raise their
government revenues. Considering this statement, discuss (in no more than 3000
words) the effect of a specific trade policy (or set of trade policies) on an economy. In
your discussion, you will need to:
I. Select a nation(s) and discuss a specific trade policy applied. Discuss the
economic impact of such a trade policy. [Hint: You can use graphs and tables here
to support your discussion]
II. Compare the economic situation of your selected nation(s) before and after the
trade policy.
III. For your selected nation(s), review some of the empirical studies that measure
the economic impact of such trade policies.
Question Three:
No doubt that the 2022 Russian invasion of Ukraine has lots of political and economic
consequences all over the world. High inflation rates, energy prices and supply chains
are of the key economic problems nowadays. Discuss (in no more than 3000 words) the
different economic effects of the war and especially on the world’s flow of international
trade. In your discussion, you will need to highlight:
I. Why is Ukraine economically important for the world
II. The main sectors/industries which have been affected.
III. Any trade policy which can help solving these negative impacts.