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Problem Based Learning
International Agreements and Trade
This Problem Based Learning (PBL) exercise focuses on international trade. In recent years, there have been widespread pleas for the reduction of trade barriers and for liberalisation of trade. The assumption is that such reductions will lead to increases in trade, wealth creation and development, particularly for less developed countries who have traditionally had problems breaking into the markets of the developed world. The dismantling of the Multi-Fibre Agreement (MFA) is one such move but what evidence is there that this will have the benefits that supporters of its removal would claim? Our Guide for Educators provides advice on how to use this resource with both HE and FE students.
Learning Objectives:
At the end of the PBL exercise, students should understand and have covered:
- The difference between economic growth and economic development
- The advantages of international trade
- The principle of absolute and comparative advantage
- The principles behind international agreements such as the MFA
- The reasons for dismantling the MFA
- The consequences for the developed world and the developing world of the dismantling of the MFA
- The reasons for the shift in resources as a result of the removal of the agreement
- The implications of the move towards trade liberalisation for global trade and economic development
Resources:
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