Amiti, Mary and Shang-Jin Wei, "Service Offshoring Raises U.S. Productivity," digest by Matthew Davis, July 28, 2006, of "Service Offshoring and Productivity: Evidence from the United States" (NBER Working Paper No. 11926) NBER Website. Online
  1. What is "service offshoring"?
  2. Why, according to this, might service offshoring raise the productivity of US firms?
  3. According to the authors' estimates, how does the increase in productivity due to service offshoring compare to US productivity improvement overall?

Bailey, Ronald, "The Secrets of Intangible Wealth," Wall Street Journal, September 29, 2007. Online (Proquest)
  1. What is "intangible capital"?
  2. What do immigrants to a country have to do in order to benefit from its intangible capital?
  3. Which has been measured to be the larger contributor to intangible capital, education or rule of law?

Baker, Dean, "The WTO and the World's Poor," truthout, July 12, 2006. Online
  1. By how much does the average poor person in the world stand to gain from a WTO trade agreement, according to the author?
  2. Why would some of the world's poor be hurt if rich countries stop subsidizing agricultural production?
  3. What change in economic policy does the author suggest for helping the world's poor?

Barber, Tony, "EU is reluctant to discipline members," Financial Times, December 11, 2009. [1p] Online (Proquest)
  1. What happens when an EU member has a budget deficit beyond the limit of 3% of GDP?
  2. Has any government been fined? Will it happen in the future?
  3. Would a country in trouble be expected to go to the IMF for help?

Barfield, Claude, "The Trans-Pacific Partnership: A Model for Twenty-First-Century Trade Agreements?" International Economic Outlook No. 2, American Enterprise Institute for Public Policy Research, June 2011. Online
  1. Where did the TPP start, and when did the US become involved? Is it a completed FTA?
  2. Is the objective to have a single region-wide FTA, or instead a network of bilateral FTAs? What does the US want?
  3. What are ROOs? And what is "cumulation"?
  4. What are some of the other issues, besides reducing or eliminating tariffs on trade within the group, that the TPP is dealing with?

Bhagwati, Jagdish, "Does the Free Market Corrode Moral Character?" John Templeton Foundation, October 1, 2008. Online
  1. How, according to the author, does globalization reduce child labor?
  2. How does globalization benefit women?
  3. Where is there evidence that trade and foreign investment can reduce poverty?

Bivens, L. Josh, "Globalization and American Wages: Today and Tomorrow," Briefing Paper #196, Economic Policy Institute, October 10, 2007. Online
  1. What "theorem" of standard international trade theory does the author explain and use? And why does this predict that a large number of US workers lose from trade?
  2. The paper's Table 1 shows calculated effects, from a simple model, of globalization on incomes of US middle-income households in 1995 and 2006. Why is the effect in 2006 so much larger than in 1995?
  3. What policies does the author espouse (near the end of the paper) to deal with this problem?

Bivens, L. Josh, "Marketing the Gains from Trade," Issue Brief #233, Economic Policy Institute, June 19, 2007. Online
  1. Several estimates are reported here for the size of the gains from trade for the United States. What is the lowest estimate, what is the highest, and what does the author think is correct? (Check these both in terms of dollars and as a percentage of US GDP.)
  2. The largest of these estimates is based on a particular academic study. Who wrote that study? What feature of that study led to such a large estimate?
  3. The author agrees that cutting trade barriers would raise US national income. Why, then, does he seem to be skeptical that doing so is a good idea?

Blinder, Alan S., "Free Trade's Great, but Offshoring Rattles Me," Washington Post, May 6, 2007. Online
  1. What are the two big changes in the world that are making a vast increase in offshoring possible?
  2. Of the following, which does the author argue may be made worse off by offshoring: the world as a whole; the US as a whole; workers in particular occupations in the US?
  3. How many US jobs has he classified, in his research, as "offshorable"? Does he expect these all to be offshored?

Borjas, George, "Economic Progress of Immigrants," digest by David R. Francis, July 28, 2006, of "Making it in America: Social Mobility in the Immigrant Population" (NBER Working Paper No. 12088) NBER Website. Online
  1. How does the quantity of immigration into the US today compare to with 1970?
  2. What are the reasons that Borjas gives for expecting today's immigrants to assimilate more slowly than those of a century ago?
  3. Were earlier groups of immigrants to the United States permitted instruction in their native language?

Bouët, Antoine and David Laborde, "The Potential Cost of a Failed Doha Round," IFPRI Issue Brief #56, International Food Policy Research Institute, December 2008. Online
  1. Which is larger, according to the authors: the increase in world trade that would result from a successful Doha Round agreement, or the decrease in world trade that would result from a failure of the Doha Round? What do they take as the most likely event that would cause a fall in world trade if the Doha Round fails?
  2. What are the HICs, MICs, and LDCs, and how, according to the data here, do they differ in terms of the average level of protection they apply?
  3. On average across the world, how much higher are bound tariffs than applied tariffs?

Brainard, Lael and Robert E. Litan, " 'Offshoring' Service Jobs: Bane or Boon and What to Do?" Policy Brief #132, Brookings Institution, 2004. Online

  1. What percentage of those in the U.S. who involuntarily lose their jobs each year do the authors estimate are due to offshoring?
  2. What are the two major effects of offshoring, according to economic theory?
  3. What policies do the authors recommend for responding to increase in offshoring?

Broekhuizen, Kim, "U-M says apparel licensees must follow Bangladesh safety accord," The University Record, University of Michigan, April 2, 2014. Online

  1. What action did UM's President Coleman announce, and what event prompted this action?
  2. Who was it that asked UM to take this action, and what group within UM considered and then recommended it to President Coleman?
  3. What does the Accord call for? Which, if any, of UM's licensees had as of this writing signed the Accord?

Brooks, Arthur C., "Don't Live Simply" Forbes.com, September 15, 2008. Online

  1. What parts of the world have risen from poverty through international trade?
  2. What part of the world has "languished," and why, according to the author.
  3. What indicators, besides per capita income, does the author use to show progress?

Buffett, Warren E., "America's Growing Trade Deficit Is Selling the Nation Out From Under Us. Here's a Way to Fix the Problem--And We Need to Do It Now," Fortune, November 10, 2003. Online

  1. Why wouldn't the citizens of Thriftville be willing simply to hold the IOUs of Squanderville?
  2. Is the U.S. trade deficit quantitatively important?
  3. What policy solution does Buffett propose for ending the trade deficit?

Buttonwood, "Forty years on: An anniversary for the currency markets," Economist, August 13, 2011. [2p] Online (Proquest)
  1. What motivated the pegged exchange rates of the Bretton Woods system, and why did Milton Friedman think this should not be a concern?
  2. Floating rates led to greater freedom of both capital flows and monetary policy. Why?
  3. Does the author favor pegged exchange rates or floating exchange rates?

Copenhagen Consensus, "Copenhagen Consensus 2008 - Results," Copenhagen Consensus Center, Copenhagen Business School. Online

  1. What was the Copenhagen Consensus Project?
  2. Of the following issues, which made it high onto their list of things to do something about, and which were placed toward the bottom of the list: air pollution, diseases, conflict, and malnutrition and hunger?
  3. Why is the Doha Development Agenda listed with zero cost?

Crook, Clive, "A cruel sea of capital," Surveys, The Economist, May 1, 2003. Online (Proquest)

  1. Why are capital market decisions more prone to mistakes than goods market decisions?
  2. Why does leverage increase the riskiness of capital market transactions?
  3. What market makes international financial transactions inherently more risky than domestic ones?

Deardorff, Alan V., "An Economist's Overview of the World Trade Organization," in Korea Economic Institute, The Emerging WTO System and Perspectives from East Asia, Joint U.S.-Korea Academic Studies Vol 7, 1997. Online (Working Paper Version)

  1. What are the major constraints that the WTO imposes upon member country trade policies?
  2. What exceptions does the WTO permit in its most-favored-nation requirement?
  3. What power does the WTO have to enforce its rules?

Deardorff, "Introduction to Comparative Advantage," August 27, 2003. Online
  1. Why is comparative advantage a relative concept in two senses simultaneously?
  2. With two goods and two countries, how do you identify the good in which a country has a comparative advantage?
  3. It the wage rate in a country falls due to trade, do workers lose from trade?

Deardorff, Alan "Migration," undated. Online

  1. Why do workers who remain in Mexico benefit from the migration? Why do owners of other factors in Mexico lose?
  2. The size of the countries matters as follows: the larger is the labor force in a country, the flatter will be the demand curve for labor (because a given change in quantity demanded will be a smaller fraction of the total). Based on that, how would the size of the loss to US workers depend on the size of the US labor force?
  3. If one considers only the people who remain in Mexico -- both workers and owners of others factors -- does Mexico gain or lose from the migration? What fraction of their incomes would migrants have to remit to their families in Mexico for that conclusion to be reversed?

Deardorff, Alan V. and Robert M. Stern, "What You Should Know about Globalization and the World Trade Organization," December 5, 2001. Online (Synergy)

  1. To what extent is globalization a new phenomenon?
  2. Who are the main winners and losers from globalization?
  3. In what ways does the WTO have powers that are broader and/or more effective than those of the GATT?
  4. Why did the WTO ministerial meeting in Seattle in 1999 fail?

Dizikes, Peter, "Economists Find Evidence for Famous Hypothesis of 'Comparative Advantage'," MIT News Office, June 20, 2012. [2p] Online

  1. Why is comparative advantage hardest to measure if the theory is correct?
  2. How does this paper get around that problem?
  3. The authors calculate a correlation that would be 1 if the theory worked perfectly. What do they find, and why is it considered as providing support for the theory?

Donnan, Shawn, "Global deal shows 'coming alive' of WTO," Financial Times, December 8, 2013. [2p] CTools

  1. When and where did the WTO most recently reach agreement, and when was the last time it did so before that?
  2. What the trade ministers agreed to, primarily, was something called Ňtrade facilitation. What does this mean?
  3. Why did the trade ministers view this as such an important achievement? For what countries is it most important?

Eberstadt, Nicholas N. and Carol C. Adelman, "Foreign Aid: What Works and What Doesn't," AEI Online, American Enterprise Institute, October 28, 2008. Online

  1. In what ways have developing countries changed that call for new approaches to aid? Where in the world have these changes not occurred?
  2. Has foreign aid in the past contributed positively to macroeconomic growth?
  3. Suppose that USAID (the United States Agency for International Development) in Washington were to fund an infrastructure project in, say, Ghana, paying a US construction firm to build a road there. Which of the authors' "characteristics for success" does this violate?

Economics Focus, "Drain or gain? Poor countries can end up benefiting when their brightest citizens emigrate," The Economist, May 26, 2011. Online (Proquest)

  1. What are remittances, and how big are they for some countries?
  2. If countries were to succeed in preventing their educated people from emigrating, would that increase the average level of education at home?
  3. How do educated people who donŐt emigrate compare to those who do emigrate and then later return?

Economics Focus, "Gauging generosity," The Economist, May 1, 2003. Online (Proquest)

  1. What is "tied aid"?
  2. What country gives the most aid, in absolute amount? What country gives the least, as percent of GDP?
  3. How can a trade policy be regarded as helping economic development?

Economics Focus, "Why the tail wags the dog: Emerging economies now have greater heft on many measures than developed ones," The Economist, August 6, 2011. Online (Proquest)

  1. Why is the definition of "emerging economies" difficult? What definition does this article use?
  2. In terms of real GDP, which is larger: the developed group or the emerging group?
  3. On what measures is the emerging group more than 75% of the world total? On what measures is it less than 25%?

Economist, "Aid to the rescue," The Economist, August 16, 2014. Online (Proquest)

  1. Has official development assistant risen, fallen, or stayed the same since 1960? Has the per capita incomes of highly indebted poor countries risen, fallen, or stayed the same over that period?
  2. What reasons are given why aid may be harmful?
  3. Why is it hard to discern statistically whether aid increases economic growth?
  4. What was the Ňinstrumental variableÓ that the cited study used to capture the effects of aid? What did they find?

Economist, "The Big Mac index: A basket of sliders," The Economist, July 26, 2014. Online (Proquest)

  1. The Big Mac index says that the Norwegian kroner is overvalued by 62% compared to the US dollar. How is this number calculated?
  2. How have the real values of most currencies relative to the US dollar changed over the last five years? Are then now overvalued, undervalued, or roughly neutral?
  3. What changes in economic activity account for most of this change?

Economist, "Company headquarters: Here, there and everywhere," The Economist, February 22, 2014. Online (Proquest)

  1. Into what countries did Fiat, the Italian car maker, put various aspects of its corporate identity after taking full control of Chrysler?
  2. What role does "national pride" play in the choices of merging companies to locate the resulting firm?
  3. When a company moves its tax residence to a low-tax jurisdiction such as the UK or Ireland, on what portion of its earnings does it pay less taxes?

Economist, "Currency Envy: My Money Is Bigger than Yours," The Economist, June 23, 2012. Online (Proquest)

  1. How do economists view the importance of the absolute value (as opposed to changes over time) of a country's currency relative to others?
  2. Would non-economists in countries prefer that a unit of their currency be worth more, or worth less, of other currencies? Why?
  3. The Hong Kong dollar is pegged to the US dollar. And yet it is much further down the list of currency values than the US dollar. How is this possible?

Economist, "Fixed Rates," The Economist, August 23, 2014. Online (Proquest)

  1. How do we see that exchange rates are not moving much? And what reason is given for this quiet in the exchange markets?
  2. What usual exchange market participants are not as active in the market as they used to be?
  3. How did bankers rig the market in their favor?

Economist, "Offshoring: Welcome home," The Economist, January 19, 2013. Online (Proquest)

  1. Why is it that China's cost advantage is becoming smaller and may soon disappear?
  2. Why does increasing automation contribute to reshoring?
  3. What is the main reason why companies today want to expand their presence overseas?

Economist, "Signs of Life," The Economist, November 15, 2014. Online-Proquest

  1. What is the difference between the "depth" of trade and the "breadth" of trade? Which grew and which fell in the recent period?
  2. What aspect of globalization only slowed its growth, but did not decline, during the crisis?
  3. How does a "coalition of the willing" differ from normal agreements in the WTO?

Economist, "Trading Up: Picking the world champion of trade," The Economist, January 18, 2014. Online (Proquest)

  1. What country, as of the data reported in this article, led the world in total exports plus imports? Does it look like that country's lead it rising or falling over time?
  2. How does China's trade as a percentage of its GDP compare to the average for the world? How does it compare to the US?
  3. What does it mean that China's value added as a percent of its exports is smaller than that of the US?

Edwards, Sebastian, "America's Unsustainable Current Account Deficit," digest by Matthew Davis, July 28, 2006, of "Is the U.S. Current Account Deficit Sustainable? And If So How Costly Is Adjustment Likely to Be?" (NBER Working Paper No. 11541) NBER Website. Online

  1. How big, compared to GDP, has the US net liabilities to foreigners and also its current account deficit, gotten to be? What other large industrialized countries have done something similar, either today or in the past?
  2. Is the author's gloomy prediction based on the assumption that foreigners will be unwilling to hold more US assets than they are now?
  3. What does he predict for the US exchange rate and its effect on the US economy?

Eldredge, Dirk Chase, "YES: Immigration will double the population of the United States within the next 60 years," Insight on the News, Feb 18, 2002. Online

  1. How much of the US population growth since 1970 has consisted of people who were born outside the US?
  2. What are some of the shortages that the author attributes to immigration?
  3. What does the author mean when he says that "balkanization has replaced assimilation"?

Evenett, Simon and Robert M. Stern, "The transatlantic trade talks and economic policy research: Time to re-tool," VOX, March 21, 2013. Online

  1. What are the components that officials had recommended be part of the TTIP?
  2. Why do the authors expect little trade diversion from the TTIP?
  3. Why are the authors doubtful that TTIP will succeed in reducing regulatory barriers?

Faux, Jeff, "Overhauling NAFTA," Viewpoints, Economic Policy Institute, February 29, 2008. Online

  1. What were the adverse effects that the author attributes to NAFTA?
  2. Who has spoken in favor of renegotiating NAFTA?
  3. What is the deal that the author would like the US to negotiate with Mexico as part of renegotiating NAFTA?

Feenstra, Robert C., "How Costly Is Protectionism," Journal of Economic Perspectives 6, Summer 1992, pp. 159-171,175-178. Online-JSTOR

  1. How much more do consumers lose from protection than the country loses? Who gets the difference?
  2. What determines who gets the quota rents?
  3. If foreign firms respond to a quota by "upgrading" their product, how can that be bad?
  4. Why might foreign firms respond to protection by investing in the U.S., and what are the welfare effects if they do?

Feldstein, Martin, "Why the renminbi has to rise to address imbalances," Financial Times, October 29, 2009. Online (Proquest)

  1. What three changes are needed to correct current global imbalances?
  2. If the exchange rate does not adjust, but the other two changes do happen, what will be the result?
  3. What, according to the author, do Chinese officials advocate for reducing the US trade deficit? Why won't the US do this? Would it work if we did?

Ferguson, Niall, "Our Currency, Your Problem" New York Times, March 13, 2005. Online
  1. Who is financing most of the US external borrowing?
  2. How does this help us? How does it help them?
  3. Why, according to this author, might the US be able to continue in this way for a long time?

Food and Agriculture Organization, "Cotton Subsidies in Rich Countries Mean Lower Prices Worldwide," FAONewsroom, Food and Agriculture Organization of the United Nations, 2005. Online

  1. Why do US cotton subsidies hurt people in Africa? Who is hurt?
  2. Who can produce cotton more cheaply, Africans or Americans?
  3. Are African cotton farmers problems due solely to US subsidies?

Forbes, Kristin, "The Costs of International Capital Controls," digest by Matthew Davis, July 28, 2006, of "The Microeconomic Evidence on Capital Controls: No Free Lunch," NBER working paper No. 11372. Online

  1. What are capital controls, as considered here?
  2. Who seems to suffer the most from capital controls, in the evidence reported here, and why?
  3. Who is hurt when capital controls are removed?

Forelle, Charles and Marcus Walker, "Dithering at the Top Turned EU Crisis to Global Threat," Wall Street Journal, December 29, 2011. Online (Proquest)

  1. What is a "haircut," what is PSI, who advocated these as part of the solution to the debt crisis, and why?
  2. Why did the head of the ECB object to PSI?
  3. Who was Dominique Strauss-Kahn, and what was his role in all of this?

Frankel, Jeffrey A., "The International Financial Architecture," Brookings Policy Brief No. 51, June 1999. Online+ Fig 3

  1. What are the nine exchange regimes that Frankel identifies, and how do they fit into the spectrum of exchange-rate flexibility?
  2. What are the classical criteria for an optimal currency area, and what criteria does Frankel add to this list?
  3. What is the impossible trinity?

Fraser Institute, "When Foreign Aid Doesn't," Fraser Forum Editorial, February 1999. Online

  1. What seems to be the direct cause of the reversal of growth in Côte d'Ivoire?
  2. What is the connection between foreign aid and this episode?

Friedman, Thomas L., "Made in the World," New York Times, January 28, 2012. Online (Proquest)

  1. How, according to Friedman, do US politicians and CEOs differ in their view of the world?
  2. Why don't CEOs talk about "outsourcing" these days?
  3. What are some of the advantages that Friedman thinks that the US has that should let it prosper in this new world?

Glassman, James K., "Illogical Special Trade Deals," Washington Times, July 24, 2006. Online

  1. What does GSP stand for, and what does the program do?
  2. What have countries done that makes the author wish to deny them GSP status?
  3. What change in policy does the author recommend?

Griswold, Daniel T., "Are Trade Deficits Good for the U.S. Economy?" The Globalist, Feb. 15, 2005. Online
  1. Does the US economy do better (in terms of GDP growth or employment) when the trade deficit is getting larger or when it is getting smaller?
  2. What does this imply about the desirability of policies that would change the trade balance? Do we know any reason for a causal link between the trade balance and income?
  3. What seems to be the author's purpose in making these points?

Griswold, Daniel T., "Higher Immigration, Lower Crime," Commentary, Cato Institute, December, 2009. Online

  1. Why are immigrants, both legal and illegal, less prone to crime than native-born Americans?
  2. Why does the author say that immigrants reduce poverty?
  3. What is the main basis for the author's conclusion that higher immigration lowers crime?

Hufbauer, Gary Clyde and Paul L.E. Grieco, "The Payoff from Globalization," Washington Post, June 7, 2005. Online

  1. By how much have US tariffs fallen over 60 years? By how much have incomes risen due to reduced costs of trade?
  2. With tariffs now low, is their scope for any further liberalization? Why?
  3. Who loses from liberalization, how, and how much?

Hufbauer, Gary Clyde and Jeffrey J. Schott, "Buy American: Bad for Jobs, Worse for Reputation," PIIE Policy Brief No. PB09-2, February 2009. Online

  1. Is the direct effect of "Buy American" to increase or decrease employment in the US, and how? What do the authors say would be the total effect on US employment, and why?
  2. What are the GPA and NAFTA, and what does they have to do with this issue?
  3. What, say the authors, would Buy American do to US foreign relations?

Ikenson, Daniel, "Trade, Growth: Weep Not for Doha," China Post, July 20, 2008. Online

  1. What does "trade facilitation" refer to?
  2. Why is the author not worried about the failure of the Doha Round?
  3. What does it take for trade facilitation to occur?

IMF, "The IMF at a Glance," International Monetary Fund Fact Sheet, September 24, 2013. Online

  1. When was the IMF formed, where is it located, and who and how many are its members?
  2. For what purpose does the IMF make loans?
  3. What does SDR stand for, and what purpose does it serves?

Jones, Laura, "Should Environmentalists Support Free Trade?" Fraser Forum, The Fraser Institute, December 1999. Online

  1. What evidence supports or contradicts the "produce-more-pollute-more" model?
  2. What is a "pollution haven" and why is, or is not, this a cause for concern?
  3. Why shouldn't all countries have the same environmental standards?
  4. Does the WTO permit, or prevent, a "race to the bottom"?

Kain, E.D., "Protectionism and National Security," The League of Ordinary Gentlemen, March 2, 2009. [2p] Online

  1. What are some of the things that the author hopes to keep in the US through protectionism?
  2. What "strings" would he attach to protectionism?
  3. Which of the following does he think will be improved by protectionism: morality, economic growth, national security?

Kanter, James and David Jolly, "For Trade Deal with U.S., E.U. Official Reinforces Plans to Press Ahead," New York Times, November 21, 2014. [4p] Online-Proquest

  1. What is the intent of the negotiations towards a Transatlantic Trade and Investment Partnership?
  2. What are some of the issues that are making it hard to achieve agreement between the US and the EU?
  3. Why are Europeans concerned that the US has other interests that rank higher than negotiating a trade agreement with the EU?

Karabell, Zachary, "The 'Global Imbalances' Myth," Wall Street Journal, December 21, 2009. [3p] Online (Proquest)

  1. On what basis does the author dismiss "global imbalances" as "myth"?
  2. On what does he place the blame for the recent crisis, if not global imbalances?
  3. Why does he think that belief in global imbalances is dangerous?

Kharas, Homi, "Ten Years After the East Asian Crisis: A Resurgent and Restructured Region," The Brookings Institution, June 27, 2007. Online
  1. How has the speed of recovery from the East Asian crisis compared to that from the Debt Crisis of Latin America earlier?
  2. Have the countries retreated from globalization or embraced it after the crisis?
  3. What is distinctive about the internal migration of people that as been occurring in these countries, and what stresses is it causing?

Krueger, Anne and T.N. Srinivasan, "The Harsh Consequences of Forgiveness," Financial Times, August 8, 2000. Online (P)

  1. What policy do the authors prefer to debt forgiveness?
  2. What reasons do they give for this preference?

Krugman, Paul, "Climate, Trade, Obama," The Conscience of a Liberal, NY Times blog, June 29, 2009. Online

  1. What, in this case, is a "border adjustment"?
  2. Why would the absence of a carbon tax be bad for the environment?
  3. According to Krugman, would a carbon tariff be legal under the WTO? Why?

Krugman, Paul, "In Praise of Cheap Labor: Bad jobs at bad wages are better than no jobs at all," Slate, Mar 20, 1997. Online

  1. Have wages and incomes in the developing world risen during the last 20 years?
  2. Why are wages so low in the developing world?
  3. What would happen to foreign workers if U.S. multinationals were required to pay them American wages?

Krugman, Paul R., "Is Free Trade Passé?", Journal of Economic Perspectives 1, Fall 1987, pp. 131-144. Online-JSTOR

  1. What is Strategic Trade Policy?
  2. Why was traditional trade theory unable to address the issues of the new trade theory?
  3. In the Boeing-Airbus game of the paper, what happens if Europe provides the subsidy only after Boeing has made an irreversible commitment to produce?
  4. What is the difference between the external economies of the new trade theory and those of previous trade theory?
  5. Give three reasons why, in practice, the gains from strategic trade policy are likely to be smaller than the simple arguments for them might suggest.
  6. If the gains from a policy are small, is that reason enough not to use it?
  7. Give two reasons why political economy considerations suggest that the effects of policy intervention may well be negative.

Krugman, Paul, "Taking On China," New York Times, March 14, 2010. Online
  1. On what basis does Krugman say that the Chinese currency is undervalued, and by what amount?
  2. Why is he not worried about China selling their holdings of dollar assets?
  3. What policy does he recommend, and why? Is there any precedent for this?

Kulish, Nicholas, "No Fireworks for Euro as It Reaches the 10-Year Mark," New York Times, December 31, 2011. Online (Proquest)
  1. What is it about the design of the euro currency that lessens its appeal compared to the prior national currencies?
  2. What effect did adoption of the euro have on prices, in fact and as perceived by the public? Why?
  3. How doe the value of the euro, compared to other currencies, compare today to when it was introduced? How does it compare to a year or so ago?

Lerrick, Adam, "Why Is the World Bank Still Lending?," On the Issues, American Enterprise Institute, November 9, 2005. Online

  1. Why was lending by the World Bank to developing countries a useful form of development assistance in the first decades after the Bank was created. Why is it no longer useful?
  2. What is meant by the Bank's "technical assistance," and why does it make developing countries less, rather than more, likely to borrow from the Bank?
  3. How is the Bank able to continue to lend to countries like China when it now has such good access to world capital markets itself?

Levin, Jay H., A Guide to the Euro, 2002, pp. 41-51. CTools
  1. What are the benefits and costs to a country of joining the eurozone?
  2. What is an optimal currency area, and what are the criteria for a group of countries being one?
  3. What is the main requirement of the Stability and Growth Pact, and how is it to be enforced?

Levinsohn, James and Margaret McMillan, "Does Food Aid Harm the Poor?" NBER Working Paper No. 11048, January 2005, as summarized by Carlos Lozada on the NBER Website. Online
  1. Why is food aid not necessarily beneficial to everyone in a poor country?
  2. How do the authors of the study determine who gains and loses from food aid, and what do they conclude?

Levy, Phillip, "How to Let China Know We're Serious" TCS Daily, July 19, 2007. Online
  1. What is Section 421, and how has it been used?
  2. What will happen to US imports and the US trade deficit if we put tariffs on goods imported from China?
  3. What does Levy say the US should threaten to do, if it is serious? Why?

Lindsey, Brink and Daniel J. Ikenson, "Coming Home to Roost: Proliferating Anti-Dumping Laws and the Threat to U.S. Exports," Cato Trade Policy Analysis No. 14, Executive Summary only, July 30, 2001. Online

  1. By how much has anti-dumping use increased since the 1980s, overall and by developing countries?
  2. Has the U.S. been common or uncommon target of these cases, and how has it fared in the cases where it was the target?
  3. Who supports continuing anti-dumping laws in their current form?

Lipsey, Robert, "Direct Investment Is a Steady Source of Foreign Capital," National Bureau of Economic Research Working Paper No. 7094, June 2000, digest by Justin Fox. Online

  1. How does the author define direct investment?
  2. Which is more volatile, direct investment or portfolio investment?
  3. Who gets the most, and who gives the most, direct investment?

Magee, Christopher S. P., "Why Are Trade Barriers So Low?" Economic Affairs 31(3), October 2011, pp. 12-17. Online (Wiley)
  1. Does the main "political economy" model for explaining tariffs say that politicians care only about campaign contributions?
  2. Why does the author give only partial credit to GATT negotiations in explaining the fall of tariffs since the 1930s?
  3. How do the following terms or concepts figure in explanations for why trade barriers are low: free riding; peace; imported inputs; non-tariff barriers?

Makin, John H., "Exchange Rate Stability in International Finance," Testimony, American Enterprise Institute, May 21, 1999. Online

  1. What is the main benefit of floating exchange rates that the author cites?
  2. Why did the pegs collapse under Bretton Woods in the 1970s? In Europe in the early 1990s? In Asia in 1997?
  3. Why has China been able, so far, to maintain its pegged exchange rate?

Mandel, Michael, "The Real Cost of Offshoring," Business Week, June 18, 2007. Online
  1. What is "phantom GDP"?
  2. What is actually being measured as productivity, when there is phantom GDP, according to Feenstra?
  3. Why is this a problem?

Mann, Catherine L. and Katharina Plück, "When the Dollar Bill Comes Due," Op-ed, Institute for International Economics, April 27, 2005. Online
  1. What happened to the US trade deficit when the US dollar depreciated by 25% over the last two years?
  2. Why did the depreciation not reduce our imports from China and Mexico?
  3. Based on estimates of "pass-through," by how much would prices of imports have risen, after several quarters, from those countries whose currencies' dollar values rose by 25%? Why is pass-through less than complete?

Mastel, Greg, "Keep Anti-Dumping Laws Intact," Journal of Commerce, September 10, 1999. Online
  1. What is it that the author says makes anti-dumping laws a "practical necessity"?
  2. In what countries and products does the author see these problems as being most severe?
  3. According to the author, did the Uruguay Round agreements make anti-dumping laws harder or easier to use?

Mauldin, William, "Tea-Party Resistance Clouds Push for Major Trade Pacts," Wall Street Journal,, December 15, 2013. Online (Proquest)
  1. Article says that members of the Tea Party are opposed to trade agreements. Based on what is mentioned here, what are they most worried about? Why is the Tea Party concern especially significant for trade issues?
  2. What is it that worries politicians in Michigan?
  3. Aside from worries about employment, what are the concerns of liberals and of conservatives?

Narlikar, Amrita, "Don't blame the brands," Prospect, April 2, 2013. Online
  1. Whom does the author blame for tragedies in factories in Bangladesh and Pakistan?
  2. Why is blaming the companies that market or distribute products produced in these countries harmful?

Paletta, Damian and Siobhan Hughes, "Congressional Negotiators Reach Deal on Fast-Track Trade Bill, Aides Say," Wall Street Journal, December 13, 2013. Online (P)
  1. What does Fast Track require?
  2. Why is it needed for trade negotiations?
  3. How are currency issues and Fast Track related?

Perry, Mark, "Why We Should Thank the Chinese Currency Manipulators," The American, America Enterprise Institute, December 2, 2011. Online
  1. Who does he say benefits, and who is hurt, by the undervaluation of the Chinese currency?
  2. Why is he sure that the benefits are larger than the costs?

Politi, James, "US state governors urge Congress to support trade pacts," Financial Times, December 24, 2013. CTools
  1. Article mentions, but without their acronyms, TPP and TTIP. What are they?
  2. What countries or groups of countries are to be included in TPP and TTIP?
  3. What is Fast Track and why is it needed?

Posen, Adam, "The errors of conservatives obscure the case for trade," Financial Times, July 22, 2014. Online-Proquest
  1. When a US factory moves to Mexico and employs 100 workers there, what Đ according to the article Đ happens to employment in the US?
  2. How did the unemployment rate in the US compare in the decade following NAFTA to the decade before it?
  3. The article accepts the estimates of critics that NAFTA imports cost 45,000 jobs a year for two decades. Why doesnŐt he view that as serious?

powell, john a. & S.P. Udayakumar, "Race, Poverty & Globalization" Poverty and Race, Global Exchange, May/June 2000. Online
  1. How is globalization (also here called "globalism") defined?
  2. What are two reasons stated here that globalization serves the interests of capital more than labor?
  3. How does globalization lead to lower taxes, and why is this bad for the poor?

Prestowitz, Clyde, "The Losses of Trade," Huffington Post, September 29, 2011. Online
  1. The author cites a study that measures hitherto unmeasured costs due to the increased US trade with China. How, according first to the authors of that study and second to Prestowitz, do those costs compare to the conventional gains from trade? Why the difference?
  2. What are some of the assumptions that Prestowitz says are needed for the traditional gains from trade?
  3. What are some of the costs of trade that the new study measures?

Prusa, Thomas, "On the Spread and Impact of Antidumping," National Bureau of Economic Research Working Paper No. 7404, October 1999, digest by Matt Nesvisky. Online

  1. What is the evidence that developing countries are becoming increasing users of anti-dumping duties?
  2. Why are developing countries doing this?
  3. Which would the author prefer, that all countries start to use anti-dumping laws, or that all countries stop using them?

Reuters, "China denounces carbon tariff idea ahead of Copenhagen," December 4, 2009. Online
  1. What does the Chinese news agency say is motivating the developed countries who are considering the use of carbon tariffs?
  2. What will happen, say the Chinese, if rich countries use carbon tariffs?
  3. Are carbon tariffs legal under the WTO, according to the Chinese?

Rice, Susan E., "We Must Put More on the Plate to Fight Global Poverty," Washington Post, July 5, 2005. Online
  1. How much money did the organizers of Live 8 want countries to devote to economic development in poor countries? Is the US meeting that goal?
  2. Is there any connection between poverty and terrorism?
  3. How is health in rich countries related to poverty in poor countries?

Roberts, James, "Foreign Aid: Congress Should Shift USAID Funds to the Millennium Challenge Account," Web Memo #2574, Heritage Foundation, Auguest 4, 2009. Online
  1. What do MCA, MCC, ODA, and USAID stand for?
  2. How does the MCA differ from traditional foreign aid, and why?
  3. How does MCA aid compare with ODA by USAID, in terms of amount of aid given and in terms of "aid per employee"? What country is "most efficient" in terms of its aid per employee?

Roth, Mark, "Wage Insurance: A Way to Ease Outsourcing Angst?," Pittsburgh Post-Gazette, March 24, 2004. Online

  1. If a worker loses their job, what does wage insurance pay them, and when?
  2. Does the United States have a wage insurance program?
  3. What are some of the reasons why wage insurance might be politically attractive?

Schaefer, Brett D., "American Generosity Is Underappreciated," Web Memo, Heritage Foundation, December 30, 2004. Online
  1. How does the US compare to other rich countries in the amount of foreign aid that the government gives, both in dollars and as a percent of income?
  2. From the numbers given, how would you guess we would compare, as a percent of income, if private aid were included as well as government aid?
  3. What does it mean to "focus on inputs rather than outputs"?

Schavey, Aaron, "The Catch-22 of U.S. Trade," Knight-Ridder/Tribune News Wire, March 9, 2001. Online

  1. What was the average U.S. tariff in 1999, and what were the average tariffs faced by exports from Nepal and Bangladesh? Why are these different?
  2. Who gains and loses from U.S. textile and apparel tariffs and their removal? What, if anything, protects the losers?
  3. What does the WTO's Agreement on Textiles and Clothing promise, and how well has the U.S. delivered on that promise?

Scott, Robert E., " Trade deficit with Mexico has resulted in 682,900 U.S. jobs lost or displaced," Economic Snapshot, Economic Policy Institute, October 12, 2011. Online
  1. In 2010, how many jobs were supported by US exports to Mexico? How many were "lost or displaced" by US imports from Mexico?
  2. The author compares to 1993, when the US had a small trade surplus with Mexico. Why does he choose that year for comparison, and what does that allow him to conclude?
  3. By about what percentage was employment in Michigan reduced by the trade deficit with Mexico, according to the author's calculations?

Skerry, Peter and Stephen J. Rockwell, "The Cost of a Tighter Border: People-Smuggling Networks" The Los Angeles Times, May 3, 1998. Online

What effect has tighter border control had on
  1. How migrants enter the country?
  2. The cost of illegal entry?
  3. The lives of migrants once they are in?

Solomon, Robert, "International Effects of the Euro," Policy Brief No. 42, Brookings Institution, January 1999. Online

  1. Who manages the euro?
  2. What are the main effects of the euro as identified here?
  3. How is the value of the euro expected to change?

Stelzer, Irwin M., "Immigration: Hard Facts," American Enterprise Institute, Aug 1997. CTools

  1. Does US immigration policy favor Western Europeans?
  2. How does the flow of immigrants today compare to the past?
  3. Do immigrants cause higher crime, lower wages, and higher taxes?
  4. Is the net economic effect of immigration in the U.S. positive or negative?

Stern, Robert M., "Labor Standards and Trade Agreements," Research Seminar in International Economics Discussion Paper No. 496, August 18, 2003, University of Michigan, pp. 1-14, 20-21. Online

  1. Of the following, which are generally regarded as "core" labor standards: freedom from forced labor; minimum wage; elimination of child labor exploitation; freedom of association; maximum hours of work?
  2. Why do labor standards differ between nations?
  3. Do multinational corporations prefer to locate in countries with low levels of labor standards?
  4. Which of the following international institutions include provisions to encourage the right of collective bargaining: ILO, WTO, NAFTA?

Stiglitz, Joseph, "America Has Little to Teach China about a Steady Economy," Financial Times, July 27, 2005. Online (Proquest)
  1. Will appreciation of the Chinese currency reduce China's surplus or the US deficit?
  2. China's exports have a large import content. How large? And how does this matter for the effect of an exchange rate change on trade?
  3. How has China compared to the US in rate of economic growth, savings, and fiscal balance?

United States Trade Representative, "Trade Agreements" & "Free Trade Agreements," Office of the United States Trade Representative, 2011. Online & Online
  1. What agency is responsible for administering United States trade agreements?
  2. How do FTAs differ from the multilateral agreement of the WTO?
  3. What are BITs, and what are their purposes?
  4. With what counties has the US signed FTA agreements that (according to this page as of late 2011) have yet to be approved and implemented by the US Congress? (They have actually now been approved.)

Verrill, Charles, Jr., "An Introduction to Trade Remedies Available under U.S. Law," memorandum to clients and friends, Weiey, Rein & Fielding, April 1, 1999. Online

  1. Who has "standing" under the antidumping law? Who determines whether there is dumping?
  2. How do the injury requirements differ for antidumping and for safeguards?
  3. What can a U.S. producer do if it believes that its competitors in another country are engaging in anticompetitive conduct that is being tolerated by their government?

Zupnick, Elliot, "U.S. Foreign Direct Investments Abroad," Chapter 6, and "Foreign Direct Investments in the United States," Chapter 7, in Visions and Revisions: The United States in the Global Economy, Westview Press, 1999, pp. 109-125. CTools

    Chap. 6:
  1. Why did international direct investment not thrive during the 1950s and 60s?
  2. What reasons do multinational corporations have for investing abroad? Of these reasons, which seem to be the most important?
  3. How could outward foreign direct investment cost jobs at home? How could it save jobs?

    Chap. 7:
  4. What reasons are mentioned in general for foreign manufacturing to invest in the US, and what two specific developments contributed in addition to the burst of inward investment in the late 1980s?
  5. What is a "screwdriver factory" and why might competitors in the US object to them? For what other reasons did US competitors sometimes object to inward FDI?
  6. What is "greenfield investment" and how does it differ from other types of FDI? Is most FDI into the US greenfield, or other? And what does this tell us about the effects of FDI on US output and employment?