Download Week 9

Welcome to
EC 382: International
Economics
By: Dr. Jacqueline Khorassani
Study Guide
Week Nine
(You must study the following topics and send your questions to me by Wednesday, October 31)
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1
• What are the antidumping laws?
• What are the countervailing duties?
2
You must know
everything in this Chapter (Chapter 8)
on GATT and WTO
3
Chapter 11:
General Questions
• Why is international trade an important part of the
overall economic activity?
• Is a trade deficit bad for an economy?
• What is the role of imports and exports in an
economy?
• How is the trade balance part of a larger economic
picture?
• What are a country’s balance of payments and their
role in the economy?
4
• What is GDP?
– What is included in it?
– What is excluded from it?
– What are the components of GDP?
• What is the difference between real and nominal GDP?
• How does GDP relate to saving, investment, government’s budget and
trade balance?
– What are leakages?
– What are injections?
• What are the 4 strategies to reduce trade imbalance?
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The Balance of
Payments Accounts
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•
•
What is it?
What is the current account balance?
– Merchandise Trade Balance?
– Balance on Services?
– Balance on Goods and Services?
– Balance on Investment Income?
– Balance on Goods, Services, and Income?
– What are unilateral transfers?
What is the capital & financial account balance?
–
Components?
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