World Economy Mid-term exam (take-home) 2 nd semester 2015 Hyun-Hoon LEE (Kangwon National University)

Please answer the following four questions : 1.Explain how fast international trade has been growing in the world. What are the reasons for fast expansion of international trade? Explain benefits and costs of international trade. Explain pros and cons of globalization 2.Explain international trade in terms of global value chain (GVC). Explain the role of foreign direct investment and trade in intermediate goods for GVC. Using a commodity example, explain GVC. 3.Explain pros and cons of regionalism. Explain Trans-Pacific Partnership. What will be its impact on international trade and investment? 4.Explain why we need sustainable development? Critically explain green growth and inclusive growth strategies for sustainable development. Explain some examples of green growth strategies and of inclusive growth strategies. Critically explain Sustainable Development Goals (SDGs)

Guideline  Due date: 12:00 (noon), Thursday, 29 th October (Any belated submission will be subject to penalty.)  Please write your answers in MS Word, at least one-page long answer for each question (12 fonts, single space between lines, double space between paragraphs.  Answers should be logical and creative with your own views.  10 points maximum for each question, 40 points total.  A student's work should be his/her own. All submitted papers will be subject to textual similarity review for the detection of plagiarism.  Please your submission to

Hyun-Hoon Lee