Description
Big Ideas Chapter 18.19.20.22.24
Chapter 18:
1.Comparative vs. absolute advantage
2.Capital mobility and comparative vs. absolute advantage
3.Globalization vs. internationalization
4.Bretton Woods Institutions (IMF and World Bank)
- World Trade Organization (WTO)
Chapter 19:
- Perfect competition vs. mergers, patents, and transnational corporations
2.Trade vs. environment in the WTO
3.Standards-lowering competition
4.Wealth and power - Specialization and welfare
6.Trade and scale
7.Distribution and globalization
8.Food security and international trade
Chapter 20:
- Balance of payments (BOP)
- Current account
- Capital account
- Fixed vs. flexible exchange rates
- The Efficient Market Hypothesis
- The Financial Instability Hypothesis
7.Hedge, Speculative and Ponzi Investors
8.Liberalization
9.Speculation
10.Leverage - Moral hazard
- Adverse selection
Chapter 22:
1.Direct regulation
2.Command-and -control regulations
- Pigouvian taxes and subsidies
- Tradeable permits (quotas)
- Abatement costs
- Total allowable commercial catch (TACC)
- Individual transferrable quotas(ITQs)
8.Ecological tax reform
Chapter 24:
1.Pricing non market goods and services
2.Contingent valuation and pricing nature
3.Market vs. nonmarket values
4.Marco-allocation asymmetric information
5.Asymmetric information
6.Subsidies for nonmarket goods
7.Seigniorage
8.International subsidies for ecosystem preservation
9.Comprehensive efficiency identity
Sample Solution
