Economics Project: Brexit Consequences and Impact on Global Trade

This project proposal examines the consequences of Brexit, Britain's departure from the European Union, and its impact on international business. It highlights the debate between a no-deal Brexit and the Norway model, considering the trade implications for the UK, which heavily relies on the EU for both imports and exports. The project outlines an e-poster that will cover the pre-Brexit scenario, the positive and negative impacts of Brexit, a comparison of the no-deal and Norway models, and potential strategies to mitigate the demerits. It references various sources to provide evidence of potential losses resulting from Brexit, focusing on the UK's economic performance and its dependency on the EU market.

Project Proposal: Brexit and its Relevant
Consequences
By:
Abstract
Brexit is the resigning of Britain from the European Union (EU). This decision is still pending
because of its adverse impact on the economic operation of United Kingdom (UK). A majority of
the population supports the Brexit movement due to the strict policies of EU, such as the
Agricultural policy and the Fisheries policy. However, there is a debate amid accepting the no-
deal Brexit and following the Norway model. The following project is based on the United
Kingdom’s decision of Brexit from the European Union, and its impact on the international
business. The trade operations of UK consist of imports from the EU’s market. In addition to
this, EU’s single market grabs a major proportion of exports from UK. Thus, EU helps in
generating revenue for UK’s exporting sector. The no-deal Brexit is the direct exit of UK
without signing of proper documents that harms the free-trade operation. The Norway model of
quitting aims at retaining the access of EU’s single market but freedom from policies and laws of
EU. However, the major problem of UK is the constant immigration from EU that possess
pressure on the economy. This project presents the issues and provides evidences of loss from
Brexit.
Outline of the Project
The e-Poster will consist of the following topics with relevant graphs, images and information:
Section Contents
Title  Title
 Author
Abstract  Introduction
 What are the impacts of Brexit on
UK’s economic performance?
Pre-Brexit Scenario  Market and trade operations between
the nations
 Positive and Negative impact of
Union
Consequences of Brexit  Negative effects possessed by Brexit
 Explanation with graphs of UK’s
dependency on EU’s market
Comparison between No-Deal and Norway
Model
 Detailed Comparison
 Possible ways to combat the demerits

of Brexit
Conclusion  Overview of the analysis

References
bankofengland.co.uk. (2019). [online] Available at:
https://www.bankofengland.co.uk/-/media/boe/files/report/2018/eu-withdrawal-
scenarios-and-monetary-and-financial-stability.pdf?
la=en&hash=B5F6EDCDF90DCC10286FC0BC599D94CAB8735DFB [Accessed 10
Oct. 2019].
bbc.com.news.uk (2019). Reality Check: What is the Norway model?. [online] Available at:
https://www.bbc.com/news/uk-46024649 [Accessed 10 Oct. 2019].
Brakman, S., Garretsen, H., & Kohl, T. (2018). Consequences of Brexit and options for a ‘Global
Britain’. Papers in Regional Science, 97(1), 55-72.
Pollitt, M. G. (2017). The economic consequences of Brexit: energy. Oxford Review of
Economic Policy, 33(suppl_1), S134-S143.
Shapiro, A., (2014). Multinational Financial Management, 10th edition, John Wiley & sons, New
Jersey. Ch 3.
spectator.co.uk (2018). Collins, D. and Collins, D. Why a no-deal Brexit is nothing to fear | The
Spectator. [online] The Spectator. Available at:
https://www.spectator.co.uk/2018/08/whos-afraid-of-the-wto/ [Accessed 10 Oct. 2019].

bankofengland.co.uk. (2019). [online] Available at:
https://www.bankofengland.co.uk/-/media/boe/files/report/2018/eu-withdrawal-
scenarios-and-monetary-and-financial-stability.pdf?
la=en&hash=B5F6EDCDF90DCC10286FC0BC599D94CAB8735DFB [Accessed 10
Oct. 2019].
bbc.com.news.uk (2019). Reality Check: What is the Norway model?. [online] Available at:
https://www.bbc.com/news/uk-46024649 [Accessed 10 Oct. 2019].
Shapiro, A., (2014). Multinational Financial Management, 10th edition, John Wiley & sons,
New Jersey. Ch 3.
spectator.co.uk (2018). Collins, D. and Collins, D. Why a no-deal Brexit is nothing to fear |
The Spectator. [online] The Spectator. Available at:
https://www.spectator.co.uk/2018/08/whos-afraid-of-the-wto/ [Accessed 10 Oct.
2019].