Answer two questions in two essay questions

answer the 2 following questions in 2 separate essays 6 pages each.

1. What kind of economic reform is occuring in China? Is it both good and bad for China as well as the global economy?

2. What are the global community’s criticisms about the WTO’s treatment of developing countries? Are their complaints valid?

Basic Terminology: Be able to incorporate as many of of the following basic political economic terms as possible into each of the two essays of choice from the second category. ** Do be certain to incorporate other useful data from the Wheelan text, and various suggested scholarly IPE books and articles as well.**

David Ricardo, “Comparative Advantage,” “The Iron Law of Wages,” and “Theory of Rents.”

Anne-Robert Turgot and Jean-Baptiste Say

Physiocrats

Charles Fourier and Count Sainte-Simon

Utilitarianism

Karl Marx

William Stanley Jevons and Leon Walras

Historical Economics and the Marshallian School

East Asian Model of Developement

Export Oriented Strategy

Rent Seeking

Structural Adjustment Programme

Efficiency Oriented Investment

Foreign Direct Investment

Horizontal Integration

Intangible Asset

Locational Advantages

Market Oriented Investment

Natural Resource Investment

Positive Externalities

Specific Asset

Vertical Integration

Calvo Doctrine

Export Processing Zone

Locational Incentives

Multilateral Agreement on Investment

Obsolescing Bargain Performance Requirement

Trade Related Investment Measures

United Nations on Permanent Sovereignty over Natural Resources

Balance of Payments and Balance of Payments Adjustment

Bretton Woods System

Capital Account

Conditionality

Current Account

Exchange Rate System and Exchange Restrictions

Fixed Exchange Rate System and Fixed but Adjustable Exchange Rate System

Floating Exchange Rate System

Foreign Exchange Market

Foreign Exchange Reserves

Fundamental Disequilibrium

Managed Float

Speculative Attacks

Stabilization Fund

European Monetary System

International Investment Position

Louvre Accord, Monetary Accord, and Plaza Accord

Target Zone

Phillips Curve

 

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