Introduction The present report focuses on the review and critical assessment of the articles devoted to business in the global conditions. This review will help to develop a deeper level of understanding of the principles of economic exchange between countries. In addition, it will update the author’s knowledge of ethical norms and practices. Summary and Key Takeaways The first article under analysis is called “Theories and Methods of Regional Integration and Free Trade Agreements.” It is written by Joan Tejedor and published in the Revista de Economía Mundia journal in 2017. The article provides an overview and analysis of the methods that allow assessing the economic effects of Free Trade Agreements (FTAs) between countries. Tejedor argues that globalization became partly the reason for the creation of trade agreements and economic cooperation treaties between countries (226). The origin of global trade agreements Tejedor ties to the earliest post-war agreement known as the General Agreement on Tariffs and Trade (GATT) (228). As a result of the collaboration within the framework of this organization, countries gained experience in global cooperation in the sphere of trade and elaborated the main methods of control and regulation in the area. For instance, rules for the inclusion of developing countries were established. In addition to that, the adoption of technology and innovation boosted the development and popularity of international investments. The latter will become the major instrument of trade and cooperation between countries that now influence the methods of FTAs’ assessment. The focus of the paper is the two modeling methods used for the assessment of the economic effects of FTAs such as Computable General Equilibrium (CGE) and gravity model. CGE compares the abstract general equilibrium structure of a market with the existing economic data to measure prices, supply, and demand. Various studies examining the CGE application discussed by the author conclude that it provides a comprehensive set of data that allows making conclusions and predictions about welfare, production, factor returns, trade volumes, etc. Gravity models, on the other hand, use an ex-post approach to assess the economic effects in a hypothetical environment. Such an approach allows controlling and monitoring the effects of all aspects of FTA measuring their impact on trade. The basic calculation formula estimates the relationship between Gross domestic product and import of goods. As opposed to CGE, the Gravity model does not measure FTAs’ impact on welfare, price, and customs income offering only production trade volume, and dynamic variables. The author concludes that the two methods allow measuring ex-ante and ex-post effects of FDA and both are valuable instruments of economic analysis (Tejedor 238). Critical Review The article offers a retrospective review of existing theories and methods of regional economic cooperation and provides a historical background of trade agreements between countries. The authors conducted thorough literature research to develop a solid theoretical background for their methodological study. Despite the fact that the methods were developed some time ago, research is rather timely. Free trade agreements become one of the leading instruments of bilateral cooperation in the sphere of economic exchange. The author succeeded in providing comprehensive research of the origins of trade agreements. However, there is a certain limitation in this part of the study. The author focuses mainly on the positive impact of free trade agreements, such as mutual economic, development, the comm