International Trade

This document contains notes on globalisation; absolute/comparative advantage diagram; trade diagrams; trading bloc comparisons; currency in the forex market; key terms of international trade; exchange rate mechanism; balance of payments; World Trade Organisation; Marshall-Lerner Condition; exchange rates. This also includes a real-world example about currency movement (George Soros).

This document is a summary of market power: perfect competition, monopolistic competition, oligopoly, monopoly. It has comprehensive information on cost/revenue curves: ATC, AVC, AFC, MC, MC, AR. The pros and cons of economies of scale as well as the difference between external and internal EofS. There are real-world examples given in terms of natural monopolies.