Welcome to EC 382 International Economics By Dr Jacqueline Khorassani Study Guide Week Eight You must study the following topics and send your questions to me by Wednesday October 24 1 What are other nontariff distortions and how do they affect the international trade and the welfare of the nations Government Procurement Technical Barriers to Trade Subsidies Labor and Environmental Standards Transportation costs 2 Chapter 8 1 2 3 General Questions Why do most countries provide protection to some domestic industries Why is the tariff on one specific good low and high on another good What has been the role of GATT WTO and other trade negotiations 3 What is a trade policy What is the role of special interest groups in policy formulation What is the public choice theory What is collective action What are the rent seeking consequences of government s trade policy What are the goals of a specific politician 4 Why is it easier to gain protection for a single product than a product group Why are the tariff schedules detailed and complicated Which industries are more likely to receive protection Why 5 What is dumping What are different types of dumping What are different ways of measuring dumping What are antidumping duties What are countervailing duties 6 The General Agreement on Tariffs and Trade GATT What is a contracting party under GATT How could a country become a contracting party What is MFN What are Multilateral Trade Negotiations MTN Describe the process Name the rounds of negotiations specific goals How many nations were involved 7 The World Trade Organization It s specific objectives The degree of success Future plans 8