Types of trading blocs
Examples of trading blocs
Types of trade protectionism.
Reasons for trade protectionism
Trade creation and trade diversion
Sources of possible conflict between trading blocs
The Common Agricultural Policy
The World Trade Organisation (WTO).
The UK’s changing international competitive situation.
Balance of payments
Remedies for a balance of payments disequilibrium.
Exchange rate systems.
What Determines The Value Of An Exchange
European Monetary Union.
Inward foreign direct investment by MNCs.
External shocks to the global economy.
The working of fiscal, monetary and supply side policies.
Real output and the NAIRU (Phillips Curve).