1. 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)