Trade sanctions are usually part of broad economic sanctions that are imposed on countries for various reasons that are not necessarily related to trade.Your paper should include, but not limited to, the following:
1) What are trade sanctions? How do they fit into broad economic sanctions?
2) Discussion of the theoretical welfare effects on the world, that is, on the countries on which the sanctions are imposed and the sanction-imposing countries
3) Discussion of different arguments, in the literature, on the effectiveness of sanctions in achieving their stated objectives
4) Analysis of two specific trade sanctions by discussing the specific contents of the sanctions, their stated objectives, and their effects on all parties involved, whether the stated objectives were achieved.
Note: All references should be appropriately cited
Text: International Economics: Heterodox Approach. Hendrik van den Berg, 2nd edition, M.E. Sharpe, 2011. ECON 321