Nov 06 2008

Trading blocs and economic integration – IB student case studies

Published by at 2:18 pm under Free Trade,IB Economics,Trade,Trading blocs

A trading bloc is “a group of countries that join together in some form of agreement in order to increase trade between themselves and/or to gain economic benefits from cooperation on some level.”

Below is a list of some of the regional trading blocs. The assignment is to:

  • Identify the nations involved in your assigned trading bloc
  • Identify the kind of trading bloc (customs union, free trade area, common market, monetary union)
  • Discuss the impact that membership in the trading bloc has had on the economy of one member nation

Research your assigned trading bloc, prepare a short summary of the points above, and post your findings as a comment below.

  • Pacific Regional Trade Agreement (PARTA or PIF) – Christina, Myrthe and Manka
  • European Economic Area (EEA) – Lisa and Pia, Lis and Livia
  • Caribbean Community (CARICOM) – Catherine and Sean, Maddie
  • Union of South American Nations (Unasur/Unasul) – Eithan and Wilhelm, Alex and Gorka
  • East African Community (EAC) – Miguel and Ross, Nick and Dierdre
  • Southern African Customs Union (SACU) – Horia,
  • Greater Arab Free Trade Area (GAFTA) – Calvin, Magda and Robin
  • North American Free Trade Agreement (NAFTA) – Nic
  • Association of Southeast Asian Nations (ASEAN) – Matteo, Sebastian and Moritz
  • Central European Free Trade Agreement (CEFTA) – Meri and Natasha
  • African Economic Community (AEC) – Palmi and Celine

About the author:  Jason Welker teaches International Baccalaureate and Advanced Placement Economics at Zurich International School in Switzerland. In addition to publishing various online resources for economics students and teachers, Jason developed the online version of the Economics course for the IB and is has authored two Economics textbooks: Pearson Baccalaureate’s Economics for the IB Diploma and REA’s AP Macroeconomics Crash Course. Jason is a native of the Pacific Northwest of the United States, and is a passionate adventurer, who considers himself a skier / mountain biker who teaches Economics in his free time. He and his wife keep a ski chalet in the mountains of Northern Idaho, which now that they live in the Swiss Alps gets far too little use. Read more posts by this author

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