Week 5 - Week 5: Economic Integration and the Foreign...

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Week 5: Economic Integration and the Foreign Exchange Market INTRODUCTION: As business dealings in the financial world become increasingly more global, it has been necessary to develop new approaches to facilitate trade between nations. Those nations that are frequent trading partners often find it helpful to formulate different policies and procedures, referred to as an economic integration approach, that allow for more open, nonrestrictive trade. This week, you will be introduced to different types of economic integrations, such as a free-trade zone, a common market, and an economic union. You will also learn about the workings and uses of the foreign exchange market, including an analysis of both the “spot” markets and the “forward” markets. Combined with the discussion on economic integrations, this analysis sets the stage for understanding current international trade. Recall the last time you traveled to a country that used a currency different than your own. Consider the difficulties you encountered with financial transactions. Next, think about how the situation would be different when traveling in Europe, where all of the European countries use the same currency (the Euro). What are some of the benefits of this standard currency when crossing country borders? Learning Outcomes
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Week 5 - Week 5: Economic Integration and the Foreign...

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