Global Economy
Review for Final Exam
Here are some important concepts from the readings and lectures of this class, with which you
should be familiar. This list is not necessarily exhaustive of the important concepts of this class, but it
is a good starting point for review. It is possible that concepts not on this list could be on the exam.
Good luck studying!
Financial Bailout (causes, incentives, and problems with government aid package)
Utility
Relativity
Opportunity cost
Amorality of the market
Scarcity
Incentive structures
Perverse incentives
Tragedy of the Commons – and solutions
Short-term vs. long-term (of trade, for instance)
Societal/group vs. individual (for example, GDP and distribution of wealth, branding, effects of trade)
Positive and negative externalities
Public goods
Free riders
Moral Hazard
Too big to fail
Bubbles
Federal Reserve
Monetary supply
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- Winter '09
- skaperdas
- Deflation, Inflation, Protectionism, GDP GDP, World Bank ILO International, GDP GINI HDI
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