Discuss the impact of Coronavirus since January 2020 has drastically affected the trade sector of both the developed and developing countries. It is in the agricultural sector that the battle for long term economic development will be won or lost (Todaro & Smith, 2015, p. 437). International trade has since been affected reducing both exports and imports, supply chains and value added.
1. In the first part of the essay discuss the importance of microeconomics of farmer behavior and agriculture development in the developing countries, giving specific examples. What
are the policy recommendations for agriculture development to achieve high growth, supporting with the country examples?
2. In the second part of the essay analyze how do the trade policies of developed countries
affect the ability of developing countries (i.e., Less Developed Countries) to benefit from
greater participation in the world economy? Give country examples to support your
answer.
Suggested Readings:
Todaro and Smith (2020) Chapters 9 and 12
See also country case studies for these Chapters 9 and 12, as well as Case Study 4,
Set Readings from Section B.5: Agricultural Transformation and Rural Development.
Set Readings from Section C.1: Trade Theory and Development.
See recent journal articles in these areas which follows well from the theory and examples
shown in sections B5 and C.1 articles.
