1. Pick a country other than the United States, describe its trade pattern (what goods and services it exports, and what it imports, to and from whom), and examine the reasons for this pattern of trade.
2. Pick an example of international trade policy, such as a particular trade restriction that some country has imposed, and discuss the likely effects that this policy will have had, and the reasons for it.
3. Has the international trading system been beneficial or harmful for less developed countries?
4. Pick a country and find data on how the value of its currency has changed over time -- the last 30 years, say. Then provide whatever explanation you can about why it behaved the way that it did.
5. How does the United States gain, or lose, from having a large current account deficit, and how does the US deficit also affect other countries? What can and/or should be done about it?
6. Describe and explain an international financial crisis (such as the crisis in Argentina in 2001, the 1997 Asian Crisis, the 1994 Mexican peso crisis, etc.)
7. What would be the pros and cons of having the NAFTA countries all adopt the US dollar as their currency.

1. Pick a paper topic, either one that you design yourself or one from the above list, making it more specific where necessary. If you design your own, you should send me an e-mail describing it, for my suggestions and approval.
2. Write a one-paragraph proposal (1/2 to 1 page, no more) that describes the question your paper will address and how you propose to answer it. This should include mention (but without details) of the concepts, theories, and/or models that you will draw upon to explain the problem (from the textbook, most likely), plus reference to the source or sources of data that you expect to use.
3. Next you should write a first draft of your paper. The text of your paper should be no more than five pages double spaced, not including any tables and graphs. (If you can't keep it that short, narrow your topic.)
4. After you get the draft back from me with my comments, produce the final version of the paper responding to those comments as needed. Unless I tell you otherwise in my comments, the final version should also satisfy the five-page limit.

These parts of the assignment should be turned in, at the latest, by the beginning of class on the dates below. (If you turn something in before these dates, I will try to return it to you earlier.)

Evaluation of your project will be based on both the quality of the economic analysis and the quality of the writing, in the final version only, and on the extent to which you have followed the instructions and met the deadlines specified. The evaluation will not matter for your grade in the course. If I do not think that the final paper you turn in is of honors quality, then I will not give you honors credit.

The paper should conform to the following format:

1. Papers should be printed on one side only of standard, white, 8 1/2 by 11 paper. Text should be in a legible 11- or 12-point font, double spaced, with 1- to 1.5-inch margins. Be sure that paragraphs are clearly separated, either by indenting the first line or by extra spacing.
2. A title page should include (only) the title of the paper; author's name, e-mail address, and student number; the course number; and the date. Title page does not count as part of the five-page limit.
3. Data should be presented in tables and/or graphs, on separate pages following the text, with the sources of the data clearly identified. Be sure to report enough about the data so that it can be understood, including the date(s) and place(s) to which it refers and units of measurement.
4. If you use textual sources other than the course textbook (you needn't), you should list them in a bibliography on a separate page (not counted among the five). References to the textbook can be done within your paper's text, by author and page or chapter as needed. (E.g., "... following Gerber's (p. 59) explanation of the Heckscher-Ohlin Model...".) Data sources may be identified on the pages of tables or graphs only, including the web address (URL) for anything from the web.
5. All text pages must be numbered. Numbering of pages with tables and graphs is desirable, but optional.
6. Do not use covers or binders on the paper. Attach the pages only using a staple in the upper left-hand corner.