This is an open-book, take-home exam. The exam consists of three essay questions. You must answer two of the three questions. Each answer should be in the range of 400-1000 words. Anything less than 400 words per answer will probably not be enough to adequately answer the question. Anything more than 1000 words per answer will be considered excessive.

Citations should be included if your reference to a source is direct (e.g., a quote or statement of fact). Citations may be informal: title and date should suffice. ONLY USE THE SOURCES I PROVIDE FOR YOU, PLUS PRIOR KNOWLEDGE IS OKAY

Think before you write. Organize your answers carefully, define terms where appropriate, and at all times be sure to explain your reasoning. Good luck!

Questions

1. You are chief economic advisor to your nation’s president, and you are facing a crisis. The country’s balance of payments is in severe deficit, the domestic economy is in deep recession, and foreign investors are fleeing. Taking due account of both economic and political factors, what course of action (or actions) would you recommend?

2. The last twenty years have seen a rapid proliferation of regional trade agreements (also known as preferential trade agreements). Is this a good thing or a bad thing?

3. Nearly eight decades after Bretton Woods, the US dollar is still the world’s dominant international currency – way ahead of any other money in use for international purposes. But can that dominance last? Or is the greenback destined in time to be replaced by some rival such as the euro or China’s renminbi?

PLEASE ONLY USE SOURCES I PROVIDE, AND MAKE SURE TO SITE THEM AS WELL!

HERE ARE THE COMMENTS FROM THE LAST ASSIGNMENT YOU COMPLETED FOR ME, PLEASE ADVISE AND ADJUST PROPERLY! THANK YOU SO MUCH! IF YOU WANT TO GO BACK AND SEE THE LAST ASSIGNMENT THAT WE COMPLETED, THAT WOULD BE AMAZING.

Q1: This is not giving enough detail about the tariff or its consequences. – 6/10
Q2: Your answer is not going into enough detail, particularly about the implications of the BW institutions. – 6/10
Q3: By what mechanism does the hegemon ensure stability? Answer does not go into enough detail. – 6/10
Q4: You use contemporary examples to argue for the irreversibility of globalization. A closer look at previous historical episodes would strengthen your argument. Also, by focusing on the mechanisms of previous swings in globalization you could identify whether such trends are underway today. – 62/70