Coronavirus & Impact on International Trade

The coronavirus pandemic has had a massive impact on economic activity at every level of society. Using the economic framework we have learned this semester, please offer your reflections on how the crisis has impacted the economy and how you envision the economic recovery from the crisis will unfold.

Please use any of the topics we have discussed, including:

• the supply and demand framework
• the role of government in the economy
• how the crisis has impacted firms and households
• impact of the crisis on national income (GDP) and GDP per capita
• effect on the productive capacity of the economy
• International trade
• externalities
• effect on economic growth
• Unemployment
• role/effect of fiscal and monetary policy on stimulating economic activity

Please do not feel it is necessary to incorporate all these topics into your essay. It will make more sense to choose one or two subjects and elaborate or expand upon them.