1. Macroeconomic diagrams include aggregate demand, which is total expenditure on national output, and aggregate supply, which is total output firms are willing to supply at different price levels.
2. Shifts in aggregate demand and supply can be caused by changes in factors like consumption, investment, government spending, taxes, and costs of production.
3. International trade occurs due to factors like comparative advantage, where countries specialize in goods they have a lower opportunity cost of production for.
4. Countries can implement policies like tariffs, quotas, and subsidies to influence trade, which can create benefits like trade creation but also costs like trade diversion.
Price determination via the market mechanismHugo OGrady
Price determination via the market mechanism content slideshow. Designed for the Economic A level qualification. Can be used in revision and in class.
Subtopics:
The Price Market Mechanism & Market Equilibrium
The Impact of changes in Demand & Supply on Equilibrium
The Functions of the Price Mechanism
The Effectiveness of Markets in Allocating Resources
Price determination via the market mechanismHugo OGrady
Price determination via the market mechanism content slideshow. Designed for the Economic A level qualification. Can be used in revision and in class.
Subtopics:
The Price Market Mechanism & Market Equilibrium
The Impact of changes in Demand & Supply on Equilibrium
The Functions of the Price Mechanism
The Effectiveness of Markets in Allocating Resources
Theoretical Part Topics:
1. Introduction to International Trade
2. Trade Barrier & Imperfect Competition
3. Trade Body, Trade Law and Product introduction
4. World Apparel Market and BDG RMG Sector
5. Market and Demand Analysis
6. World Market analysis and Potentialities
7. Introduction to Marketing and Export Promotion
8. Communication Strategy
9. Process of Export and Import
A tariff is a charge a nation imposes on imports of goods and services from another nation. Certain tariffs, which are set by the government and collected by the customs authorities, stipulate a fixed fee on a specific kind of commodity.
In the present era, tariffs have less of an impact on global trade. The emergence of international organisations aimed at enhancing free trade, such as the World Trade Organization, is one of the main causes of the drop (WTO). Such groups can lessen the risk of retaliatory levies and make it more difficult for a nation to impose tariffs and taxes on imported goods. As a result, nations have switched to non-tariff barriers including quotas and export restrictions.
There are always issues that are taken into consideration when creating foreign policy. History and public opinion had a role in the trade conflict that erupted between South Korea and Japan. The decision-makers take this into account when determining their foreign policy toward Japan. The historical element that the South Korean side of the two countries still views the World War II era as unsolved is a frequent source of friction in the bilateral relations. The topic of compensation demands for South Korean forced labourers today still has a connection to the past.
The problem of recompense for the World War II era and official acknowledgement or an apology from Japan, according to Holsti, is one of the internal elements that makes South Korea most commonly used against Japan. Every year, the public's perception of Japan's previous atrocities against South Korea likewise tends to worsen. However, internal forces still outweigh external ones, which tend to deteriorate relations between the two nations.
Model Attribute Check Company Auto PropertyCeline George
In Odoo, the multi-company feature allows you to manage multiple companies within a single Odoo database instance. Each company can have its own configurations while still sharing common resources such as products, customers, and suppliers.
Operation “Blue Star” is the only event in the history of Independent India where the state went into war with its own people. Even after about 40 years it is not clear if it was culmination of states anger over people of the region, a political game of power or start of dictatorial chapter in the democratic setup.
The people of Punjab felt alienated from main stream due to denial of their just demands during a long democratic struggle since independence. As it happen all over the word, it led to militant struggle with great loss of lives of military, police and civilian personnel. Killing of Indira Gandhi and massacre of innocent Sikhs in Delhi and other India cities was also associated with this movement.
2024.06.01 Introducing a competency framework for languag learning materials ...Sandy Millin
http://sandymillin.wordpress.com/iateflwebinar2024
Published classroom materials form the basis of syllabuses, drive teacher professional development, and have a potentially huge influence on learners, teachers and education systems. All teachers also create their own materials, whether a few sentences on a blackboard, a highly-structured fully-realised online course, or anything in between. Despite this, the knowledge and skills needed to create effective language learning materials are rarely part of teacher training, and are mostly learnt by trial and error.
Knowledge and skills frameworks, generally called competency frameworks, for ELT teachers, trainers and managers have existed for a few years now. However, until I created one for my MA dissertation, there wasn’t one drawing together what we need to know and do to be able to effectively produce language learning materials.
This webinar will introduce you to my framework, highlighting the key competencies I identified from my research. It will also show how anybody involved in language teaching (any language, not just English!), teacher training, managing schools or developing language learning materials can benefit from using the framework.
A Strategic Approach: GenAI in EducationPeter Windle
Artificial Intelligence (AI) technologies such as Generative AI, Image Generators and Large Language Models have had a dramatic impact on teaching, learning and assessment over the past 18 months. The most immediate threat AI posed was to Academic Integrity with Higher Education Institutes (HEIs) focusing their efforts on combating the use of GenAI in assessment. Guidelines were developed for staff and students, policies put in place too. Innovative educators have forged paths in the use of Generative AI for teaching, learning and assessments leading to pockets of transformation springing up across HEIs, often with little or no top-down guidance, support or direction.
This Gasta posits a strategic approach to integrating AI into HEIs to prepare staff, students and the curriculum for an evolving world and workplace. We will highlight the advantages of working with these technologies beyond the realm of teaching, learning and assessment by considering prompt engineering skills, industry impact, curriculum changes, and the need for staff upskilling. In contrast, not engaging strategically with Generative AI poses risks, including falling behind peers, missed opportunities and failing to ensure our graduates remain employable. The rapid evolution of AI technologies necessitates a proactive and strategic approach if we are to remain relevant.
How to Make a Field invisible in Odoo 17Celine George
It is possible to hide or invisible some fields in odoo. Commonly using “invisible” attribute in the field definition to invisible the fields. This slide will show how to make a field invisible in odoo 17.
Synthetic Fiber Construction in lab .pptxPavel ( NSTU)
Synthetic fiber production is a fascinating and complex field that blends chemistry, engineering, and environmental science. By understanding these aspects, students can gain a comprehensive view of synthetic fiber production, its impact on society and the environment, and the potential for future innovations. Synthetic fibers play a crucial role in modern society, impacting various aspects of daily life, industry, and the environment. ynthetic fibers are integral to modern life, offering a range of benefits from cost-effectiveness and versatility to innovative applications and performance characteristics. While they pose environmental challenges, ongoing research and development aim to create more sustainable and eco-friendly alternatives. Understanding the importance of synthetic fibers helps in appreciating their role in the economy, industry, and daily life, while also emphasizing the need for sustainable practices and innovation.
2. Definition Aggregate Demand The total expenditure on the national output at different values of the price level over a given period of time. C onsumption or spending by households I nvestements = spending by firms on goods G overnment Spending X-M = Export minus Imports => net amount spent on economy’s output by rest of world Aggregate Supply Total output of goods and services, which all firms in the economy are willing and able to supply at different price levels over a period of time.
3. Reason for Shifts Aggregate Demand Reduction in income tax Consumption increase Reduction in interest rates Consumer spending and corporate investment increase Increase in government spending Boosting demand certain products, increasing earnings in sector Improved competitiveness performance Boosting export sales
5. Reasons for Shift Aggregate Supply Increase in short-run AS Reduction in Indirect Tax Reduction in Wage costs Reduction in raw material & import costs Favorable weather conditions Decrease in short-run AS Reverse of everything said.
8. Factor endowments Factors of production that a country has available to produce goods and services Australia has minerals
9. Specialization Exists where country specializes in production of goods and services where they have a comparative advantage in production. Trade to get goods and services in which they do not specialize.
10. Absolute Advantage Good exists where a country is able to produce more output than other countries using same inputs of factors of production.
11. Comparative Advantage A good exists where a country is able to produce a good at a lower opportunity cost of resources than another country.
14. Free Trade International trade takes place without any barriers, such as tariffs, quotas, and subsidies. Free trade in an economy Price SDomestic PEq Pworld Sworld D Qe 0 Q1 Quantity Q2
15. Tariff Duty that is placed upon imports to protect domestic industries from foreign competition and to raise revenue for government Tariff diagram Price SDomestic Deadweight Loss PEq STariff PTariff Pworld Sworld D Qe 0 Q3 Q1 Q4 Q2 Quantity
16. Quota Import barrier set upper limits on quantity or value of imports that may be imported into a country. Price SDomestic Loss Windfall gain by foreign producers PEq STariff PTariff Pworld Sworld D Qe 0 Q3 Q1 Q4 Q2 Quantity
17. Subsidy An amount of money paid by the government to a firm, per unit of output, to encourage output and to give firm an advantage over foreign competitors.
18. Voluntary Export Restraint Voluntary agreement between an exporting country and an importing country that limits volume of trade in particular product.
19. Infant Industry Argument Propose new industries should be protected from foreign competition until they are large enough to compete in international markets.
20. Dumping Selling of a good in another country at a price below its unit cost of production.
21. Anti-Dumping Legislation to protect an economy against import of a good at a price below its unit cost of production.
23. Free Trade Area Exists when agreement is made between countries agree to trade freely among members of the group, but are able to trade with countries outside free trade area in whatever ways they wish.
24. Customs Union Agreement made between countries, where countries agree trade freely among themselves, and they also agree to adopt common external barriers against any country attempting to import into the customs union.
25. Common Market Customs union with common policies on product regulation, and free movement of goods, services, capital, and labor.
26. Trade creation A benefit of greater economic integration Entry of country into a customs union leads to the transfer of production from a high cost producer to a low cost producer
27. Trade Creation Before Trading Bloc A B Low Cost Producer C High cost Producer Tariffs B
29. Trade Diversion A disadvantage of greater economic integration Entry of country into a customs union leads to the transfer of production from a low cost producer to a high cost producer
32. WTO World Trade Organization International body that sets rules for global trading and resolves disputes between its member countries. Also hosts negotiations concerning reduction of trade barriers between member nations.
34. Balance of Payments Record of value of all transactions between residents of a country with residents of all other countries over given time period.
35. Balance of Trade Measure of revenue received from exports of tangible goods minus expenditure on imports of tangible goods over a given time period.
36. Current Account Measure of flow of funds from trade in goods and services, plus net investment income flows (profit, interest, and dividends) and net transfers of money (foreign aid, grants, and remittances)
37. Capital Account Measure of buying & selling assets between countries. Assets are often separated to show assets that represent ownership and assets that represent lending.
38. Current Account Surplus Where revenue from exports of goods and services and income flows is greater than expenditure on import of goods and services and income flows over given time period.
39. Current Account Deficit Where revenue from export of goods & services & income flows is less than expenditure on import of goods & services & income flows over given time period.
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42. Marshall-Lerner Condition Depreciation, or devaluation, of a currency will only lead to improvement in current account balance if elasticity of demand for exports plus elasticity of demand for imports is <1.
48. Purchasing Power Parity Theory States that under floating exchange rate, exchange rates adjust to offset differential rates of inflation between countries that are trading partners in order to restore BoP equilibrium.
49. Terms of Trade Index that shows value of country’s average export prices relative to their average import prices.
51. Elasticity of Demand of Exports Measure of responsiveness of quantity demanded of exports when there is a change in relative price of exports. Increase in Demand for $ Price of $ in Yen S $20 $10 D1 D 0 Quantity of $
52. Elasticity of Demand for Imports Measure of responsiveness of quantity demanded of imports when change in relative price of imports. S Price of $ in Yen S1 $20 $10 D 0 Quantity of $
Editor's Notes
C – As consumption increases, the demand for the good or service increases. The price then increases in order to compensate, and the output of the goods/ service increases.I – More investment leads to greater output, resulting in the price level increasingG – As the government spends more on industries, in the forms of subsidies, more goods/services are produced. The price level increases as well as the output. X-M – The more exports a country has, the more currency it has saved. As a result, output increases to reflect the level of exports, and price level increases.
C – As consumption decreasesthe demand for the good or service decreases. The price then decreases in order to compensate, and the output of the goods/ service decreasesI – Less investment leads to less output, resulting in the price level decreasing and output of goods/services decreases.G – As the government spends less on industries, in the forms of subsidies, less goods/services are produced. The price level decreases as well as the output. X-M – The less exports a country has, the less currency it has saved. As a result, output decreases to reflect the level of exports, and price level decreases.
Japan has a comparative advantage in terms of Automobiles, but China has an advantage with Apparel. Neither country excels in the production of either good, but rather, specifically one.
Invisible BalanceMeasure of revenue received from exports of services minus expenditure on imports of services over given time period.
Theory suggests in short term, even if marshall-lerner condition is fulfilled, fall in value of currency will lead to worsening of current account deficit, before things improve in long term.
Demand for the $ increased from D to D1. This may have been caused by an increase in US interest rates, increased demand for US products, speculation that the $ will increase in value, or a more favorable investment climate in the $. Japanese citizens will spend more $s, increasing the demand for the $ on the foreign exchange market.
Supply of $ increased for S to S1, This may have been caused by an increase in foreign interest rates, increased demand for foreign products, speculation that the $ will decrease in value, or a more favorable investment climate in foreign countries, increasing the supply of $s on the foreign exchange market.