What are the potential costs-benefits of globalization

Reference no: EM132196800

Question: CHAPTER 1

1. What is meant by >globalization of markets= and >globalization of production'? What has led to greater globalization?

2. What are the potential costs/benefits of globalization?

3. How do decreasing trade barriers affect business?

4. What role has technology played in changing international business?

5. How has international business changed over the last 30 years?

6. Why there are fewer US multinationals in the international market place? What are multinationals and mini-nationals?

CHAPTER 6

7. What is Mercantilism and Neo-mercantilism?

8. What are the basic premises of the Absolute Advantage and Comparative (Relative) Advantage theories? Identify and calculate when a country has an absolute and/or comparative advantage.

9. What is the Heckscher-Ohlin Theory (factor endowments) of International Trade? What did Leontief predict in his study? Explain the paradox that Leontief identified.

10. What are the stages a new product passes through according to the International Product Life Cycle? Where does production takes place at each stage?

11. What does the New Trade Theory propose?

12. Explain Porter's Theory of National Competitive Advantage.

13. What are the 4 attributes of Porter's Diamond?

14. How can the government help industries attain first mover advantages?

CHAPTER 7

15. Differentiate between ad valorem, specific, compound, official prices, and variable levy tariffs. Explain what affect tariffs might have on firms and consumers.

16. What are quotas, voluntary export restraints, local content requirements, & and administrative barriers? Explain how these items might affect trade and consumers.

17. What are the benefits and costs of government subsidies?

18. What are the arguments for trade restrictions for protecting jobs, infant industries, dumping, strategic trade policy, and national defense?

19. What are the costs and benefits of government intervention in trade?

20. What inhibits the free flow of goods between countries?

21. Explain GATT's purpose. Discuss the results of the Uruguay Round.

22. What is the WTO and what is its trade dispute resolution process and its purpose.

CHAPTER 8:

23. Define portfolio investment and foreign direct investment. Identify some examples of FDI.

24. Why do firms go abroad?

25. What is the Balance of Payments? Identify what constitutes debits and credits to the BOP accounts. What is meant by equilibrium, surplus, & deficit?

26. What are the 4 main sections of the BOP and identify the type of transactions are reported in each section?

27. What are the costs and benefits of FDI (especially as it relates to Balance of Payments) to the host country?

28. What are the costs and benefits of FDI (especially as it relates to the Balance of Payments) to the home country?

Chapter 9:

29. What are the 5 levels of economic integration?

30. What are the results of decreasing trade barriers, especially as they relate to regional trade agreements?

31. Explain when and how the EEC/EC/EU were formed (e.g. Treaty of Rome, Maastricht Treaty, etc.). Describe the Euro, how the introduction of the Euro progressed, and the costs/benefits of a single currency.

32. What is the political structure of the European Union? What is each entity responsible for?

33. What are the main objectives of the Single European Act?

34. What is NAFTA and what are its main objectives? Identify the member countries.

Chapter 11:

35. What are the main components of the Bretton Woods Agreement?

36. What is the difference between the gold standard and the gold exchange? Discuss the failure of the gold exchange. What is meant by free float, fixed rates, & managed float?

37. What is the Jamaica Accord?

38. What are the roles of the IMF and World Bank? What are the >subsidiary= banks of the World Bank and their lending guidelines?

CHAPTER 10:

39. Describe current rates, forward rates, direct, & indirect quotes, and freely convertible currencies.

40. What are the factors that affect future exchange movements?

41. Calculate the results of a devaluation of a currency. Explain how trade is affected (costs of exports and imports) as a result of devaluation.

Reference no: EM132196800

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