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6 Pages • Topic Notes • Year Uploaded: 2023
Features of the Global Economy: Introduction to globalization: definition and key features Trends in global production, trade, and financial flows Economic Growth and Quality of Life: Differences between economic growth and development Measurement of economic growth (GDP, GNI) Factors contributing to economic growth Impact of growth on living standards and quality of life International Economic Relationships: Patterns of trade – who trades with whom and what they trade Trade in goods and services, including the role of comparative advantage International investment flows (FDI and FII) Impact of transnational corporations (TNCs) on global economic activity Exchange Rates: The concept and determination of exchange rates: fixed vs. floating Factors affecting exchange rate movements Effects of exchange rate changes on economies Protection and Free Trade: Reasons for and methods of protection (tariffs, quotas, subsidies) Arguments for and against protection The concept of free trade and its benefits Role of the World Trade Organization (WTO) and regional trade agreements Globalization and Economic Development: Economic development indicators (HDI, literacy rates, life expectancy) Challenges faced by developing economies and strategies to promote development The role of international financial organizations such as the International Monetary Fund (IMF) and the World Bank Case Studies: Typically, students might study a specific economy (like China or India) or a specific issue (like global environmental challenges or the global financial crisis) to understand its impact on the global economy.
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