IB Economics 4. the Global Economy

4.1.1 Benefits of International Trade

4.1.2 Absolute and Comparative Advantage (HL)

4.1.3 Limitations of the Theory of Comparative Advantage (HL)

4.2.1 Tariffs (HL)

4.2.2 Quota (HL)

4.2.3 Subsidy/Export Subsidy (HL)

4.2.4 Administrative Barriers

4.3.1 Arguments For Trade Protection

4.3.2 Arguments Against Trade Protection

4.3.3 Free Trade Versus Trade Protection

4.4.1 Preferential Trade Agreements

4.4.2 Trading Blocs

4.4.3 Advantages and Disadvantages of Trading Blocs

4.4.4 Monetary Union (HL)

4.4.5 The World Trade Organization (WTO)

4.5.1 Floating Exchange Rates

4.5.2 Changes in Demand and Supply of a Currency

4.5.3 Consequences of Changes to the Exchange Rate

4.5.4 Fixed Exchange Rates

4.5.5 Managed Exchange Rates

4.5.6 Fixed Versus Floating Exchange Rate Systems (HL Only)

4.6.1 Balance of Payments

4.6.2 Components of the Balance of Payments

4.6.3 Interdependence Between the Accounts

4.6.4 Relationship Between the Current Account and the Exchange Rate (HL Only)

4.6.5 Relationship Between the Financial Account and the Exchange Rate (HL Only)

4.6.6 Implications of a Persistent Current Account Deficit (HL Only)

4.6.7 Methods to Correct a Persistent Current Account Deficit (HL Only)

4.6.8 The Marshall-Lerner Condition and the J-Curve Effect (HL Only)

4.6.9 Implications of a Persistent Current Account Surplus (HL Only)

4.7.1 The Meaning of Sustainable Development

4.7.2 Sustainable Development Goals

4.7.3 Relationship Between Sustainability and Poverty (HL Only)

4.8.1 The Multidimensional Nature of Economic Development

4.8.2 Single Indicators

4.8.3 Composite Indicators

4.8.4 Strengths and Limitations of Approaches to Measuring Economic Development

4.8.5 Possible Relationship Between Economic growth and Economic Development

4.9.1 Poverty Traps and Poverty Cycles

4.9.2 Economic Barriers

4.9.3 Political and Social Barriers

4.9.4 Significance of Different Barriers to Economic Growth and/or Economic Development

4.10.1 Strategies to Promote Economic Growth and Economic Development

4.10.2 Strengths and Limitations of Strategies for Promoting Economic Growth and Economic Development

4.10.3 Strengths and Limitations of Government Intervention Versus Market-Oriented Approaches to Achieving Economic Growth and Economic Development

4.10.4 Meeting the Sustainable Development Goals