How do historical materialists view the liberal free trade ideas and why? Evaluate and provide examples. Discuss the relevant KIEOs.

Select ONE of the following questions and provide an answer in 3000-3500 words:

1. Provide brief description of Realist (mercantilism, hegemonic theory, rationalist), Liberalist (orthodox, interventionist, institutionalist) and Critical (historical materialism, feminism, constructivism) theoretical perspectives. Provide analysis of similarities and differences of three approaches in terms of their explanation of relationship between politics and economics, the role of the state, nature and purpose of international economic system, and consequences of globalization.

2.Provide brief description of Realist (mercantilism, hegemonic theory, rationalist), Liberalist (orthodox, interventionist, institutionalist) and Critical (historical materialism, feminism, constructivism) theoretical perspectives. Evaluate three approaches regarding monetary relationships and appropriate measures in dealing with balance-of-payments deficit. Discuss the relevant KIEOs.

3. Provide brief description of Realist (mercantilism, hegemonic theory, rationalist), Liberalist (orthodox, interventionist, institutionalist) and Critical (historical materialism, feminism, constructivism) theoretical perspectives. How do the realist concepts of competitive advantage and strategic theory differ from the liberal concept of comparative advantage? How do historical materialists view the liberal free trade ideas and why? Evaluate and provide examples. Discuss the relevant KIEOs.

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