Political Economy correct answers the social science that deals with political science and economics as a unified subject; the study of the interrelationships between political and economic processes. Concerned with how countries are managed and governed, taking into account both political and eco...
Political Economy correct answers the social science that deals with political science
and economics as a unified subject; the study of the interrelationships between political
and economic processes. Concerned with how countries are managed and governed,
taking into account both political and economic factors
Problematique correct answers GPE is the study of this - set of related problems
themes of GPE correct answers The Role and Reach of the state in:
1. domestic economic growth policy and execution
2. international economics - trade, international finance, monetary policy
3. foreign policy and diplomacy as it relates to economics and commerce
Theory/Theories - focus on the application of these theories
Integration correct answers How integrated is a given economy into the global
economy? Shallow vs deep integration
What are Gerber's four criteria or measures for judging the degree of integration?
correct answers Trade flows
capital flows
people flows
similarity of prices in separate markets
index of openness correct answers the ratio of trade to GDP
index of openness = (Exports+Imports)/GDP
does not reveal a country's trade policies or define its barriers to trade; it merely
indicates how open that economy is to global trade
Indicators of economic integration correct answers factor movements - capital and
labor mobility.
As national economies become more interdependent, labor and capital generally move
more easily across intl borders
international economic integration correct answers has brought benefits to many
nations but not necessarily all nations.
- technological innovation
- less expensive products
, - greater investments in scarce resource regions
three features of contemporary international economic relations correct answers 1.
deeper integration
2. multilateral organizations
3. regional trade agreements
Matrix correct answers conditions that pose challenges for businesses exporting to,
investing in, manufacturing in another foreign country.
political, economic, legal, social, financial, cultural and public health conditions
Globalization and Intl. Economic integration can be measured by: correct answers 1 -
trade flows
2- factor movements
3- convergence of prices (goods, factors, assets)
Is US economy more integrated with the world today than 100yrs ago? correct answers
openness indicator is 140% greater than in 1915
World trade has been growing faster than world output since 1950
overall composition of USA traded goods changed from agricultural to manufactured
goods
Slightly less integrate with the world economy bc we dont have as much of an open
door immigration policy
Capital Flow correct answers Paper Assets: Stocks, Bonds, Currency
What determines the level of investment correct answers the level of investment in
nearly all countries is still highly correlated with domestic savings rates
What about currency, crises, RTAs? correct answers the need to protect against
exchange rate risk is a key component of today's international financial markets and is a
primary difference from the fixed exchange rate standard of the past
the incidence of financial crises has not increased, and, as a metric of integration, it
implies no increase in capital market integration
growth of regional trade agreements is an indicator of increased integration
what are the new issues in intl trade and investment? in what sense do they expose
national economies to outside influences correct answers new issues involve policy
differences between nations that previously were considered the exclusive responsibility
of local or nation governments
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