IB Review Sheet Exam 2 Fall 2008

IB Review Sheet Exam 2 Fall 2008 - Review Topics Exam 2...

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Review Topics – Exam 2 This review sheet notes the specific material in the text and the readings most relevant to review for the exam. I’ve also included some major lecture themes – but keep in mind you are responsible for all the text and article readings, lecture material and class discussion. Also, please keep in mind that the exam tends to emphasize the lecture’s perspective of the material – but do note the comment later regarding Chapter 8 material from the text). Trade Theory: Chapter 5 (Note: this only includes the material from Chapter 5 that was NOT covered on the Exam 1. Hecksher-Ohlin was covered on that exam, but I suggest you review it briefly, just because it is the context for the Leontief Paradox which IS covered on this exam) What is the Leontief Paradox and what is it’s significance? What are the newer theories of trade (International Product Life Cycle, Cost/increasing efficiency, First-mover, Overlapping demand, Competitive Advantage)? For each, what type of trade pattern is being explained and what is the implication of each for government policy? For Porter’s theory of competitive advantage, what are examples of each of the different dimensions in the “diamond”? What implications does Porter’s theory have for government policy? What are the business implications of trade theory (pp. 190-192 ) pp. 183-185 What is Neo-mercantilism? What characterizes countries with neo-mercantilist philosophies? Balance of Payments (Note: This material is NOT in the textbook) What is the balance of payments? What is the importance of the BOP for businesses? (i.e., how is it used?) What are the four major BOP accounts, and what types of activity does each include/represent? (both traditional and Fed versions) How does the BOP accounting work? (basics…. NOT details) What are different BOP balances (i.e., merchandise trade balance)? What aspects of BOP are important in an economic analysis of a country? What is the relationship between the Merchandize Trade Balance and other BOP
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This note was uploaded on 10/31/2008 for the course IB 350 taught by Professor Gerber during the Spring '08 term at University of Texas at Austin.

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IB Review Sheet Exam 2 Fall 2008 - Review Topics Exam 2...

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