STUDY CHECK LIST (materials before the midterm I: Week 1 – Week4) 1. The definition of globalization 2. Two characteristics of globalization 3. Difference between interdependence and globalization 4. The positive and negative impacts of increased international connections (e.g. internet) 5. Difference among economic, political and social globalization 6. Two conflicting views on social globalization: positive views vs. negative views 7. Globalization can be limited or reversed in a number of ways. Why and how? 8. Eight main arguments of Globaphobia 9. Comparative advantage 10. Misconceptions of comparative advantage 11. Trade can make goods and services cheaper. Three reasons for this? 12. What are portfolio investments? 13. What are foreign direct investments? 14. Benefits and harms of immigrants 15. Imports do not reduce jobs because there are other sources of economic demand that replace the lost jobs through imports. List the two sources. How do they create jobs? 16.
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