ECON303 - International Economics

LO-1. Understand the effects of economic independence on local economies.
LO-2. Discuss the importance of international trade for the U.S. economy.
LO-3. Compare and contrast the principle of absolute advantage and the principle of comparative advantage.
LO-4. Explain how the equilibrium terms of trade is influenced by changing supply and demand conditions.
LO-5. Identify the factors that underlie trade in business services.
LO-6. Evaluate the arguments in favor of trade restrictions.
LO-7. Identify the major nontariff barriers to trade.
LO-8. Evaluate the advantages and disadvantages of industrial policy.
LO-9. Understand the role of the World Trade Organization.
LO-10. Identify and evaluate the trade problems of the developing countries.
LO-11. Assess the recent economic performance of the East Asian Economies.
LO-12. Identify the stages of economic integration.
LO-13. Explain why a multinational enterprise is a source of conflict for source and host countries.
LO-14. Identify trends on the U.S. balance of payments.
LO-15. Discuss the operation of the foreign exchange market.
LO-16. Describe how exchange rates are determined in a free market.
LO-17. Explain the importance of the international monetary system.
LO-18. Identify the tools of economic policy.