GMU Globalization Paper


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ECON 390-001: International Economics
Paper Topics
1. Choose an international financial crisis to study. Describe the crisis, the
countries affected, the evolution, effects of the crisis, and responses to it.
How did the crisis reshape the global economy, or the economy of that
2. The financial liberalization of the 1970’s led to immense growth and more
effective capital allocation, but also more turbulence. Large disturbances
have rises from more innovative and risky assets, as well as contagion effects.
Describe the liberalization (including globalization) of the financial markets
– its evolution, how it occurred, the benefits, the consequences, etc.
3. Many emerging markets rely on a fixed exchange rate. In foreign exchange
markets of the emerging market economies, there is evidence showing that
even countries who claim they are floating their currency, are actually reluctant to let the nominal exchange rate fluctuate in response to macroeconomic
shocks. This phenomenon in emerging market economies is referred to as
a of floating”, as Carmen Reinhart and others have detected and reported.
What, exactly, is “fear of floating”? What explanations have been offered by
economists and other pundits for this phenomenon? How is the of floating”
detected? What variables are necessary to perform this test? If volatility
is the underlying concern, why don’t more countries form currency blocs to
deal with the problem with currency fluctuations? Explain.
4. Consider globalization and its impact on international economic relations.
Define the term globalization. What role does globalization play in international economic relations? Provide specific examples of globalization’s
impact on the global political economy.
5. How does Brexit affect the economy of the European Union? Analyze the
immediate impact of Brexit on the EU’s economy. Predict future advantages
and disadvantages of Brexit for both: Great Britain and the EU.
6. The China-United States trade war is an ongoing economic conflict between
the People’s Republic of China and the United States. The United States
has set tariffs and other trade barriers in response to what the U.S. says are
”unfair trade practices” and intellectual property theft. In response, China
has taken retaliatory measures. Describe the environment that led to the
rise of the trade war, the measures used by both parties, the diplomatic
reaction, and what you believe is the best course of action going forward.

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international economics

interdependence of the worlds economies


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