This course provides a comprehensive account of the theory and practice of international trade and international monetary relations. Emphasizes is place on modern trade theory and applications, trade policies and arrangements, and international factor movements. Topics include international financial relations, including the balance of payments, exchange rate determination and regimes, international economic policy, and international banking.
LO-1. Understand the effects of economic independence on local economies.
LO-2. Discuss the importance of international trade for the U.S. economy.
LO-3. Compare and contrast the principle of absolute advantage and the principle of comparative advantage.
LO-4. Explain how the equilibrium terms of trade is influenced by changing supply and demand conditions.
LO-5. Identify the factors that underlie trade in business services.
LO-6. Evaluate the arguments in favor of trade restrictions.
LO-7. Identify the major nontariff barriers to trade.
LO-8. Evaluate the advantages and disadvantages of industrial policy.
LO-9. Understand the role of the World Trade Organization.
LO-10. Identify and evaluate the trade problems of the developing countries.
LO-11. Assess the recent economic performance of the East Asian Economies.
LO-12. Identify the stages of economic integration.
LO-13. Explain why a multinational enterprise is a source of conflict for source and host countries.
LO-14. Identify trends on the U.S. balance of payments.
LO-15. Discuss the operation of the foreign exchange market.
LO-16. Describe how exchange rates are determined in a free market.
LO-17. Explain the importance of the international monetary system.
LO-18. Identify the tools of economic policy.
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