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Week 5 Problem Based Learning Assignment:
In this class, the Problem Based Learning Assignments will be individual PBLs. Instead of having one PBL that you will work on throughout the entire course you will complete a short PBL each week. In each PBL you will analyze a real-world example of how economic change, politics, and people can impact markets.
Topic: International Trade: NAFTA or TPP
The United States has entered into trade agreements with other countries in order to set rules and expectations to increase trade and commerce. Research either NAFTA or the TPP. How the deal you chose impact or will impact foreign trade. What were the benefits and any negative consequences of entering these types of trade agreements?
Complete each of the items below in your submission this week.
Identify the problem that is causing the desire for market intervention.
Identify groups that are impacted both positively and negatively from this policy.
Identify arguments for and against each side of the topic. What are the objectives of each side?
Analyze the potential economic impact on different groups for the different types of market interventions.
Define what the most important objectives should be in your opinion.
Propose a solution to meet the most important objectives. Justify your proposal.