Economics 333
International Economics
Intersession 2015
Study Guide II
1.
2.
3.
4.
5.
6.
7.
8.
9.
10.
11.
12.
13.
14.
15.
16.
17.
18.
19.
20.
21.
22.
23.
24.
25.
26.
27.
28.
29.
30.
31.
32.
33.
34.
35.
36.
37.
38.
39.
40.
Know the factors that affect who trades with whom
Know the trends in what is being traded
Be able to show graphically how relative supply is determined
Be able to show graphically how relative demand is determined
Be able to show graphically how imports and exports are determined
Be able to show graphically biased economic growth
Be able to show graphically the impact of export-biased growth
Be able to show graphically the impact of import-biased growth
Be able to show graphically the effects of a tariff
Be able to show graphically the effects of an export subsidy
Know the difference between external and internal economies of scale
Know the implications of internal and external economies of scale on market structure
Know the sources of external economies of scale and how they work
Be able to show graphically the impact of trade with external economies of scale
Know how regions might be able to get an initial advantage in the production of a good
Be able to show graphically how a country might be able to retain an advantage even if
another country can produce a product cheaper
Be able to show graphically how a country might be worse off with trade than without it
Know what is meant by dynamic increasing returns and the learning curve
Be able to show graphically how dynamic increasing returns can lock in an advantage for a
country
Be able to show graphically how the equilibrium number of firms and price is determined in
a monopolistically competitive industry
Be able to show graphically the impact of trade on a monopolistically competitive industry
Be able to show graphically the relationship between productivity and a firm’s profitability
Be able to show graphically the effects of increased market size when there are differences
in productivity
Know what is meant by foreign controlled
Know what is meant by multinational
Know the difference between greenfield FDI and brownfield FDI
Know what is meant by horizontal FDI and when firms might engage in it*
Know what is meant by vertical FDI and when firms might engage in it*
Know the difference between offshoring and outsourcing
Know the reasons why a firm would go with vertical FDI and why it would go with
outsourcing
Know the consequences of outsourcing
Be able to show graphically how the import demand curve is determined
Be able to show graphically how the export supply curve is determined
Be able to show graphically the effects of a tariff
Be able to show graphically the effects of an export subsidy
Be able to show graphically the effects of an import quota
Know what is meant by voluntary export restraints and their impacts
Know what is meant by local content requirements and their impacts
Know what is meant by export credit subsidies
Know what is meant by national procurement
*Can be on a sheet that you can bring to the exam