Economic and Financial Affairs Council (ECOFIN)Chairs: Andrew Park & Krystal Jiang
Email: andpar24@bergen.org & kryjia24@bergen.org Topic A: Financing against the Energy Crisis during the Russo-Ukrainian War As the Russo-Ukrainian War continues to impact the global community, it is important to note its effects on the global energy market. The conflict has caused nations to experience oil shortages in their home countries, and, therefore, higher gas prices. As the issue becomes more prevalent, nations are scrambling to find ways to remedy the current issue and explore alternative measures to import and export energy and other resources. In this committee, delegates will discuss the global energy market in relation to the Russo-Ukrainian War and find alternative solutions to fund energy sources such as oil. Delegates will also have to make decisions about whether or not they should source new types of energy or continue to find oil. Topic B: Promoting Global Collaboration in the Age of Tariffs and Embargoes If resolutions are symbolic of nations working together to collaborate, tariffs, embargoes, and related trade-restrictive measures are often symbolic of deteriorating relations. Tariffs, essentially taxes imposed by governments on international trade, aim to regulate, or even discourage, imports and exports. Proponents of enacting tariffs and related measures argue that it protects national economies from experiencing “dumping”: selling imported goods from other nations at a much lower price than national goods, thus hurting local businesses. Supporters also point that such measures help bring in income to governments, contribute to national GDP, and create more jobs. Those against the idea of enacting tariffs and such argue that it severs relations between nations, weakening multinational collaborative efforts. Adversaries also point to the fact that such efforts start “trade wars,” lower the quality of life for all citizens, slow economic growth, and prevent the spreading of ideas and innovation. In this committee, delegates will consider their country’s economic situation while debating on the merit of imposing, or deposing such trade-restrictive measures. In order to ensure the development of a future with robust national economies and a blooming global presence, delegates must find a way to collaborate whilst nations impose fiery sanctions on each other. 
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