ECO 358 Review topics, Chapters 7 – 11

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Presentation transcript:

ECO 358 Review topics, Chapters 7 – 11 ECO 358 Review topics, Chapters 7 – 11 * Candidate for analytical question Chapter 7 Most favored nation Fast track GATT – WTO Chapter 8 Import Substitution Industrialization* Primary exports Elasticity pessimism* Chapter 9 Free Trade Area / Customs Union / Common Market / Economic Union Monetary Union* European Union … some history September 1992 ERM collapse* Chapter 10 Factor Flows vs Merchandise Flows MNEs / TNCs: Why ? Vertical / horizontal integration Chapter 11 Balance of Payments Accounting* US Bof P facts Current Account Capital Account Balance of Payments Balance* (Im – X) = (I – S) + (G – T)