Economics 300

International Organizations Homework

1.      Visit the World Trade Organization, www.wto.org, on the menu click on About WTO, then under Introductory Brochures you will find Understanding the WTO, under Basics you will find Principles of the trading system.

a.       List the principles of the trading system—with components when appropriate.

b.      Discuss the principle of no discrimination and explain what its two components mean.

2.      When the stimulus package of 2009 to fight the great recession was proposed, it included a provision that any projects financed by this package would have to follow a “buy American” policy. Would this violate WTO principles or not?  Why?

3.      Suppose the Food and Drug Administration is proposing to impose some health requirements on imported shrimp, but not on US shrimp, Would this violate WTO principles or not? Why?

4.      Go to the International Monetary Fund web site, www.imf.org, and list the goals of the IMF?

5.      What is the difference between the IMF and the World Bank?

6.      When the IMF provides a loan, it usually attaches conditions on the borrowing country. At the IMF site, there is a document explaining conditionality at the following site http://www.imf.org/external/np/exr/facts/conditio.htm. Please summarize it.

7.      Early in June 2012, the European Union loaned $125 billion dollars to Spain. Please, find more detail information about this: Why did Spain need the funds and were any conditions attached to the loans?