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International oil has been described as the lifeblood of industrial society. A National Security Council paper in 1953 noted that American Based multinational oil companies were instruments of U.S. foreign policy. The underlying assumption of the paper (and U.S. policy in 1954) was the interests of the companies and the U.S. government were parallel, if not identical. Is this assumption still valid? If not, how has the role of the companies changed over time? What were the major factors that contributed to the changes? Is it likely that international oil will always be primarily governed by geopolitical rather than economic factors and therefore that the role of governments will become increasingly dominant in the governance of international oil?
What are the limits of development theories? Theories are generalisations: • When LDCs share similarities, each country is unique economic, cultural, social and historical
Draw the line of competition
Problem: (a) Critically asses the difference between economic growth and economic development. (b) Describe the definition of economic development as a multidimensional pro
(a) Suppose that the British Pound is quoted at $1.4419-36 and the Swiss Franc is quoted at $0.6250-67. What is the direct quote for the British Pound in Zurich? Note that a direct
How do institutions influence development? Institutions development influence: Institutions matter since they give opportunities for people and firms to participate into
why do companies privitise? what is the objectives of privitisation? what are the advantages and disadvantages of privitisation?
What is social inclusion? Social Inclusion: Social inclusion implies the whole of society enjoys the advantages of economic activity (as income) and have complete access
advantages and disadvantages of commercial banking
How did foreign debt arise? Evaluation: Borrowing shows an injection of new resources in the domestic economy and also an opportunity for development. • When borrowed re
Are patterns of trade a problem? Generalising Less Developed Countries have a comparative advantage into primary products and employment intensive manufacturing; Developed Cou
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