Response essay on comparative advantage and trade

December 21, 2022

Response essay on comparative advantage and trade

Order Number	636738393092
Type of Project	ESSAY
Writer Level	PHD VERIFIED
Format	APA
Academic Sources	10
Page Count	3-12 PAGES

Instructions/Descriptions

Response essay on comparative advantage and trade

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Question Description

The assignment is to read the following two essays on comparative advantage and trade, then write a response essay on the topic.

1. The first essay is by the economist Paul Krugman, who is a columnist for the New York Times. He won the Nobel Prize in Economics in 2008 for his contributions to trade theory. The Nobel Committee explains,

“Traditional trade theory assumes that countries are different and explains why some countries export agricultural products whereas others export industrial goods. The new theory clarifies why worldwide trade is in fact dominated by countries which not only have similar conditions, but also trade in similar products – for instance, a country such as Sweden that both exports and imports cars. This kind of trade enables specialization and large-scale production, which result in lower prices and a greater diversity of commodities.”

Krugman’s essay is from a book of essays on international economics. The essay is called “Ricardo’s Difficult Idea” and discusses why he believes so few people share the consensus of professional economists on comparative advantage.

Link to the essay: http://web.mit.edu/krugman/www/ricardo.htmLinks to an external site.

2. The second essay is titled “A Petition” by the 19th Century political economist Frederic Bastiat. The essay is sometimes also referred to as “The Candlemaker’s Petition”, and it is a satirical essay that deals with common objections to international trade.

Link to the essay: http://econlib.org/library/Bastiat/basSoph3.html#S.1, Ch.7, A Petition (you may have to copy and paste this link).

The assignment is to write a response to these essays that discusses the following questions:

1) Who was the audience for each essay? How did those audiences differ?

2) Are the arguments presented largely positive or normative? Do the authors tones differ?

3) What positive argument is each author giving in support of open trade? Do they directly address common objections?

Your response should not exceed 2000 words, and should be at least 1250 words.

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Response essay on comparative advantage and trade

RUBRIC

Excellent Quality

95-100%

Introduction

45-41 points

The context and relevance of the issue, as well as a clear description of the study aim, are presented. The history of searches is discussed.

Literature Support

91-84 points

The context and relevance of the issue, as well as a clear description of the study aim, are presented. The history of searches is discussed.

Methodology

58-53 points

With titles for each slide as well as bulleted sections to group relevant information as required, the content is well-organized. Excellent use of typeface, color, images, effects, and so on to improve readability and presenting content. The minimum length criterion of 10 slides/pages is reached.

Average Score

50-85%

40-38 points

More depth/information is required for the context and importance, otherwise the study detail will be unclear. There is no search history information supplied.

83-76 points

There is a review of important theoretical literature, however there is limited integration of research into problem-related ideas. The review is just partly focused and arranged. There is research that both supports and opposes. A summary of the material given is provided. The conclusion may or may not include a biblical integration.

52-49 points

The content is somewhat ordered, but there is no discernible organization. The use of typeface, color, graphics, effects, and so on may sometimes distract from the presenting substance. It is possible that the length criteria will not be reached.

Poor Quality

0-45%

37-1 points

The context and/or importance are lacking. There is no search history information supplied.

75-1 points

There has been an examination of relevant theoretical literature, but still no research concerning problem-related concepts has been synthesized. The review is just somewhat focused and organized. The provided overview of content does not include any supporting or opposing research. The conclusion has no scriptural references.

48-1 points

There is no logical or apparent organizational structure. There is no discernible logical sequence. The use of typeface, color, graphics, effects, and so on often detracts from the presenting substance. It is possible that the length criteria will not be reached.