Details of assessment:
|Assessment type||Individual academic essay|
|Word count:||500 words|
|Learning Outcomes Assessed||1. Identify and critically assess the major features of the Global Economy, the shifts in economic power, and FDI trends. 2. Employ Comparative Advantage and related trade models in analysing a country’s role in the world economy.|
‘’COVID-19 is uprooting economic globalization’’ (WEF, 2020). Discuss the impact of the novel coronavirus pandemic (Covid-19) on international trade for ONE of the countries listed below:
Summarise, yet critically discuss, the economic implications of Covid-19 for your chosen country. Aim to include a trade relationship with a main trading partner, FDI inflows and outflows and the country’s economic growth forecast. Drawing on the economic principles covered in this module, assess how the country has responded to the health pandemic with their economic policies i.e. examples of supply-side and/or demand-side economic policies, ensuring you relate/compare this against academic models we have addressed in our teaching.
Aspects to consider:
- Brief Introduction: what is globalisation and define some of the terms that will be included in your essay. Start off with the global perspective by providing a short appraisal of the current global internal trade situation and global FDI flows I.e. that international trade has contracted with FDI projected to contract by 40% this year (WEF, 2020)
- Then change from a global view to a national view, to include macroeconomic data for your country of choice (e.g. national unemployment rates, GDP trends etc.) and start to explore how Covid-19 has impacted that county’s economy and trade (identify how one key supply chain has been disrupted?). How has the country responded – I.e. supply side and or demand side economic policies?
- Deliver a brief industry example to support the points you are making to provide practical insights.
- Finally, share a selection of overall implications. For instance, is that country rethinking its international trade strategy to reduce their vulnerability to the global economic shock? Maybe consider, what is the longer-term outlook for their globalisation? Add critical analysis into these discussions.
- Conclusion – summarise your essay and the main points that have been addressed – do not add anything new in your conclusion section
- References – as a guide, aim for 1 reference per 100 words, so approximately 5 references for this whole essay.
*please focus your discussion on the economy and trade given that this is an assessment for your international strategic management module. Please do not use up your valuable word count going into depth about the health implications of the coronavirus pandemic – instead keep it focused on the business-side. Especially as this essay is very short at 500 words.
- Demonstrate a critical understanding of a range of theories of international production
- An ability to apply a number of perspectives in your critical evaluation of implications
- Evidence of extensive reading
- An ability to structure a coherent, critical argument
- Accurate use of the Harvard Referencing system.