International economics deals with the economic relations among nations. The resulting interdependence is very important to the economic well-being of most nations of the world and is on the increase. The economic relations among nations differ from the economic relations among the various part of a nation. This gives rise to different problems, requiring somewhat different tools of analysis, and justifies International Economics as a distinct and separate branch of “Applied” Economics.
International economics deals with
1) The Pure Theory of Trade. This examines the basis for trade and the gains from trade.
2) The Theory of Commercial Policy. This studies the reasons for and the results of obstructions to the free flow of trade.
3) The Balance of Payments. This examines a nation’s total payments to and total receipts from the rest of the world. These involve the exchange of one currency with others.
4) Adjustment in the Balance of Payments. This deals with the mechanism of adjustment to balance of payments disequilibria under different international monetary systems.
Group 7
AGUILA, Don George Kinsee M.
DIMACULANGAN, Shella H.
DINGLASAN, Rydg Chrejt V.
MANTUANO, Dannah Francesca B.
OLAN, Elona Mathel B.
PAALA, Kaycee Ericka B.
PROMENTILA, Julie Anne E.
A2D - Macecon
This revision presentation explains and illustrates the concept of protectionism. The presentation explains the factors that motivate protectionism and the methods employed, including tariffs, import duties, dumping, currency manipulation and the favouring of domestic firms and industries.
International economics deals with the economic relations among nations. The resulting interdependence is very important to the economic well-being of most nations of the world and is on the increase. The economic relations among nations differ from the economic relations among the various part of a nation. This gives rise to different problems, requiring somewhat different tools of analysis, and justifies International Economics as a distinct and separate branch of “Applied” Economics.
International economics deals with
1) The Pure Theory of Trade. This examines the basis for trade and the gains from trade.
2) The Theory of Commercial Policy. This studies the reasons for and the results of obstructions to the free flow of trade.
3) The Balance of Payments. This examines a nation’s total payments to and total receipts from the rest of the world. These involve the exchange of one currency with others.
4) Adjustment in the Balance of Payments. This deals with the mechanism of adjustment to balance of payments disequilibria under different international monetary systems.
Group 7
AGUILA, Don George Kinsee M.
DIMACULANGAN, Shella H.
DINGLASAN, Rydg Chrejt V.
MANTUANO, Dannah Francesca B.
OLAN, Elona Mathel B.
PAALA, Kaycee Ericka B.
PROMENTILA, Julie Anne E.
A2D - Macecon
This revision presentation explains and illustrates the concept of protectionism. The presentation explains the factors that motivate protectionism and the methods employed, including tariffs, import duties, dumping, currency manipulation and the favouring of domestic firms and industries.
Trade policies in developing countries have been central to the analysis of international development economists over the past decades. The desire for rapid economic growth in developing countries has raised many questions about the relationship between trade and growth. This PPT examines the fact that the policies adopted in many developing countries have often been very different from those emanating from rational allocation models and have provided researchers/ students with a wide scope for analyzing their effects.
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
International trade is distorted by countries applying tariff and non tariff trade barriers.
Want more FREE resources? Checkout the B2B Whiteboard youtube channel:
www.youtube.com/b2bwhiteboard
Or join us on Facebook today: www.facebook.com/b2bwhiteboard
2. Theories of International Trade, Tariff and Non-tariff barriers and Trade ...Charu Rastogi
This presentation starts with an overview of the initial theories of international trade like mercantilism, theory of absolute advantage, theory of comparative advantage and factor proportions theory. It goes on to discuss trade barriers, tariff and non-tariff barriers and trade blocks.
6 Business–Government Trade Relations
Learning Objectives
After studying this chapter, you should be able to
1Describe the political, economic, and cultural motives behind governmental intervention in trade.
2List and explain the methods governments use to promote international trade.
3List and explain the methods governments use to restrict international trade.
4Discuss the importance of the World Trade Organization in promoting free trade.
A LOOKBACK
Chapter 5 explored theories that have been developed to explain the pattern that international trade should take. We examined the important concept of comparative advantage and the conceptual basis for how international trade benefits nations.
A LOOKAT THIS CHAPTER
This chapter discusses the active role of national governments in international trade. We examine the motives for government intervention and the tools that nations use to accomplish their goals. We then explore the global trading system and show how it promotes free trade.
A LOOKAHEAD
Chapter 7 continues our discussion of the international business environment. We explore recent patterns of foreign direct investment, theories that try to explain why it occurs, and the role of governments in influencing investment flows.
Lord of the Media
Hollywood, California — Time Warner (www.timewarner.com) is the world’s leading media and entertainment company and earns around $46 billion annually. Its businesses include television networks (HBO, Turner Broadcasting), publishing (Time, Sports Illustrated), and film entertainment (New Line Cinema, Warner Bros.). As Time Warner marches across the globe, people in almost every nation on the planet view its media creations.
New Line Cinema’s The Lord of the Rings trilogy (based on the tale by J.R.R. Tolkien) is the most successful film franchise in history. The final installment in the trilogy, The Lord of the Rings: The Return of the King, earned more than $1 billion at the worldwide box office. The entire trilogy earned nearly $3 billion worldwide and won 17 Academy Awards. New Line is now producing the prequel to The Lord of the Rings series, The Hobbit.
Source: David James/Warner Bros/Courtesy of Warner Bros./Bureau L.A. Co./CORBIS-NY.
Warner Bros.’s ongoing Harry Potter films, based on the novels of former British schoolteacher J.K. Rowling, have been magically successful. Kids worldwide snatched up Harry Potter books in every major language and now pour into cinemas to watch young Harry on the silver screen. Warner Bros. also hit it big in 2008 with the Batman film, The Dark Knight—one of the highest-grossing films ever. The company also produces mini-movies and games exclusively for its Web site.
Yet Time Warner must tread carefully as it expands its reach. Some governments fear that their own nations’ writers, actors, directors, and producers will be drowned out by big-budget Hollywood productions such as The Lord of the Rings and Harry Potter. Others fear the replacement of their tradition.
Trade policies in developing countries have been central to the analysis of international development economists over the past decades. The desire for rapid economic growth in developing countries has raised many questions about the relationship between trade and growth. This PPT examines the fact that the policies adopted in many developing countries have often been very different from those emanating from rational allocation models and have provided researchers/ students with a wide scope for analyzing their effects.
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
International trade is distorted by countries applying tariff and non tariff trade barriers.
Want more FREE resources? Checkout the B2B Whiteboard youtube channel:
www.youtube.com/b2bwhiteboard
Or join us on Facebook today: www.facebook.com/b2bwhiteboard
2. Theories of International Trade, Tariff and Non-tariff barriers and Trade ...Charu Rastogi
This presentation starts with an overview of the initial theories of international trade like mercantilism, theory of absolute advantage, theory of comparative advantage and factor proportions theory. It goes on to discuss trade barriers, tariff and non-tariff barriers and trade blocks.
6 Business–Government Trade Relations
Learning Objectives
After studying this chapter, you should be able to
1Describe the political, economic, and cultural motives behind governmental intervention in trade.
2List and explain the methods governments use to promote international trade.
3List and explain the methods governments use to restrict international trade.
4Discuss the importance of the World Trade Organization in promoting free trade.
A LOOKBACK
Chapter 5 explored theories that have been developed to explain the pattern that international trade should take. We examined the important concept of comparative advantage and the conceptual basis for how international trade benefits nations.
A LOOKAT THIS CHAPTER
This chapter discusses the active role of national governments in international trade. We examine the motives for government intervention and the tools that nations use to accomplish their goals. We then explore the global trading system and show how it promotes free trade.
A LOOKAHEAD
Chapter 7 continues our discussion of the international business environment. We explore recent patterns of foreign direct investment, theories that try to explain why it occurs, and the role of governments in influencing investment flows.
Lord of the Media
Hollywood, California — Time Warner (www.timewarner.com) is the world’s leading media and entertainment company and earns around $46 billion annually. Its businesses include television networks (HBO, Turner Broadcasting), publishing (Time, Sports Illustrated), and film entertainment (New Line Cinema, Warner Bros.). As Time Warner marches across the globe, people in almost every nation on the planet view its media creations.
New Line Cinema’s The Lord of the Rings trilogy (based on the tale by J.R.R. Tolkien) is the most successful film franchise in history. The final installment in the trilogy, The Lord of the Rings: The Return of the King, earned more than $1 billion at the worldwide box office. The entire trilogy earned nearly $3 billion worldwide and won 17 Academy Awards. New Line is now producing the prequel to The Lord of the Rings series, The Hobbit.
Source: David James/Warner Bros/Courtesy of Warner Bros./Bureau L.A. Co./CORBIS-NY.
Warner Bros.’s ongoing Harry Potter films, based on the novels of former British schoolteacher J.K. Rowling, have been magically successful. Kids worldwide snatched up Harry Potter books in every major language and now pour into cinemas to watch young Harry on the silver screen. Warner Bros. also hit it big in 2008 with the Batman film, The Dark Knight—one of the highest-grossing films ever. The company also produces mini-movies and games exclusively for its Web site.
Yet Time Warner must tread carefully as it expands its reach. Some governments fear that their own nations’ writers, actors, directors, and producers will be drowned out by big-budget Hollywood productions such as The Lord of the Rings and Harry Potter. Others fear the replacement of their tradition.
9 International Trade and Immigration Elite–Mass ConflictThe eli.docxevonnehoggarth79783
9 International Trade and Immigration Elite–Mass Conflict
The elite model portrays public policy as a reflection of the interests and values of elites. The model does not necessarily require that elites and masses be locked in conflict—conflict in which elites inevitably prevail at the expense of masses. Rather, the model envisions elites determining the direction of public policy, with the masses largely apathetic and poorly informed and/or heavily influenced by elite views. The model also acknowledges that elites may choose to pursue “public regarding” policies that benefit masses. Nonetheless, critics of the elite model often demand proof of elite–mass conflict over public policy and the subsequent shaping of policy to reflect elite preferences over mass well-being. Indeed, critics often demand proof that elites knowingly pursue policies that benefit themselves while hurting a majority of Americans. While this is not a fair test of elite theory, there is ample evidence that on occasion elites do pursue narrow self-serving interests.
In describing immigration and international trade policy, we rely on the elite model. Arguably, U.S. policy, especially in international trade, serves the interests of the nation’s largest multinational corporations at the expense of average American workers. We will argue that global trade policies have lowered average earnings and increased inequality in America. We will also argue that masses and elites have very different policy preferences regarding immigration.
The Global Economy
International trade—the buying and selling of goods and services between individuals and firms located in different countries—has expanded very rapidly in recent decades. Today, almost one-quarter of the world’s total output is sold in a country other than the one in which it was produced. Today the United States exports about 12 percent of the value of its gross domestic product (GDP) and imports about 17 percent.1 Exports and imports were only about 10 percent of GDP in 1980 (see Figure 9–1). Global competition heavily impacts the American economy.
FIGURE 9–1 U.S. World Trade
The “trade deficit”—the difference between what Americans import from abroad and what they export—has become wider over the years.
SOURCE: Bureau of Economic Analysis, www.bea.gov.
Currently, America’s leading trading partners are Canada, Mexico, China, Japan, Germany, Taiwan, Great Britain, South Korea, France, and Italy (see Figure 9–2). Note that some of these nations (Canada, Japan, Germany, for example) are advanced industrialized economies not unlike our own. But trade with developing countries (Mexico, China, Taiwan, South Korea, for example) is growing rapidly. And, as we shall see, it is trade with these nations that raises the most serious problems for America’s labor force.
Years ago America’s principal imports were oil and agricultural products not grown in the United States, for example, coffee. Today, however, our largest dollar-value import.
International Economics & Policy (VV2)
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June 3, 2024 Anti-Semitism Letter Sent to MIT President Kornbluth and MIT Cor...Levi Shapiro
Letter from the Congress of the United States regarding Anti-Semitism sent June 3rd to MIT President Sally Kornbluth, MIT Corp Chair, Mark Gorenberg
Dear Dr. Kornbluth and Mr. Gorenberg,
The US House of Representatives is deeply concerned by ongoing and pervasive acts of antisemitic
harassment and intimidation at the Massachusetts Institute of Technology (MIT). Failing to act decisively to ensure a safe learning environment for all students would be a grave dereliction of your responsibilities as President of MIT and Chair of the MIT Corporation.
This Congress will not stand idly by and allow an environment hostile to Jewish students to persist. The House believes that your institution is in violation of Title VI of the Civil Rights Act, and the inability or
unwillingness to rectify this violation through action requires accountability.
Postsecondary education is a unique opportunity for students to learn and have their ideas and beliefs challenged. However, universities receiving hundreds of millions of federal funds annually have denied
students that opportunity and have been hijacked to become venues for the promotion of terrorism, antisemitic harassment and intimidation, unlawful encampments, and in some cases, assaults and riots.
The House of Representatives will not countenance the use of federal funds to indoctrinate students into hateful, antisemitic, anti-American supporters of terrorism. Investigations into campus antisemitism by the Committee on Education and the Workforce and the Committee on Ways and Means have been expanded into a Congress-wide probe across all relevant jurisdictions to address this national crisis. The undersigned Committees will conduct oversight into the use of federal funds at MIT and its learning environment under authorities granted to each Committee.
• The Committee on Education and the Workforce has been investigating your institution since December 7, 2023. The Committee has broad jurisdiction over postsecondary education, including its compliance with Title VI of the Civil Rights Act, campus safety concerns over disruptions to the learning environment, and the awarding of federal student aid under the Higher Education Act.
• The Committee on Oversight and Accountability is investigating the sources of funding and other support flowing to groups espousing pro-Hamas propaganda and engaged in antisemitic harassment and intimidation of students. The Committee on Oversight and Accountability is the principal oversight committee of the US House of Representatives and has broad authority to investigate “any matter” at “any time” under House Rule X.
• The Committee on Ways and Means has been investigating several universities since November 15, 2023, when the Committee held a hearing entitled From Ivory Towers to Dark Corners: Investigating the Nexus Between Antisemitism, Tax-Exempt Universities, and Terror Financing. The Committee followed the hearing with letters to those institutions on January 10, 202
Biological screening of herbal drugs: Introduction and Need for
Phyto-Pharmacological Screening, New Strategies for evaluating
Natural Products, In vitro evaluation techniques for Antioxidants, Antimicrobial and Anticancer drugs. In vivo evaluation techniques
for Anti-inflammatory, Antiulcer, Anticancer, Wound healing, Antidiabetic, Hepatoprotective, Cardio protective, Diuretics and
Antifertility, Toxicity studies as per OECD guidelines
Welcome to TechSoup New Member Orientation and Q&A (May 2024).pdfTechSoup
In this webinar you will learn how your organization can access TechSoup's wide variety of product discount and donation programs. From hardware to software, we'll give you a tour of the tools available to help your nonprofit with productivity, collaboration, financial management, donor tracking, security, and more.
Embracing GenAI - A Strategic ImperativePeter 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.
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.
Read| The latest issue of The Challenger is here! We are thrilled to announce that our school paper has qualified for the NATIONAL SCHOOLS PRESS CONFERENCE (NSPC) 2024. Thank you for your unwavering support and trust. Dive into the stories that made us stand out!
3. Protectionism
Protectionism is the trade
measures or economic
policy imposed by countries’
governments to protect their
domestic businesses and
industries from foreign
competition.
The use of trade
barriers to protect
industries from
foreign competition.
Where politics,
foreign policy and
(occasionally)
rational economic
debate collide
4. Protectionism includes government policies
that restrict free trade between particular
countries, seeking to protect the local industries
and jobs from unfair foreign competition. The
most common types of protectionism measures
are tariffs, import quotas, and subsidies to local
producers.
Trade protectionism is a type of policy that
limits unfair competition from foreign
industries. It's a politically motivated
defensive measure. In the short run, it
works. But it is very destructive in the long
term. It makes the country and its
industries less competitive in international
commerce.
6. A tariff is a tax on imports, which can
either be specific or ad valorem .Tariffs
reduce supply and raise the price of
imports. This gives domestic equivalents
a comparative advantage. As such,
tariffs are distorting the market forces
and may prevent consumers from
gaining the benefit of all the advantages
of international specialisation and trade.
Tariffs
7. Quotas
Quotas have the effect of
restricting the maximum
amount of imports allowed into
an economy. Once again, they
reduce the amount of imports
entering an economy and
increase the equilibrium price
within the market. The
government receives no
revenue from a quota, as it
does with a tariff, unless it can
set up a system of licences.
8. The government could limit the amount
of foreign currency available for paying
for imports. These are not allowed
amongst member states of the
European Union (EU), for example, and
have become more difficult to sustain in
a world of highly mobile capital.
Exchange
controls
9. Export
subsidies
The government could limit the
amount of foreign currency
available for paying for
imports. These are not allowed
amongst member states of the
European Union (EU), for
example, and have become
more difficult to sustain in a
world of highly mobile capital.
10. Some quotas are voluntarily agreed
between countries. This happened on
a significant number of occasions
with Japanese firms during the
1990s. Where the quotas have been
agreed, they are known as Voluntary
Export Restraints . In fact over 200
VER's were in force in the early
1990s.
Voluntary
export
restraints
(VER's)
11. The impact of protectionism
on international trade:
The world has been transformed since China opened up in
1990. Never in human history have so many people been lifted
out of poverty in such a short time – more than one billion by
2010 and hundreds of millions more since. Nor is it hard to
know why. The high octane fuel powering the global economy to
these new peaks was the transformation brought about by
international supply chains.
But in any revolution there are losers as well as winners and
now the world has to learn how to accommodate the backlash.
The election in the United States of Donald Trump, the vote for
Brexit in the UK and the surge in support for economic
nationalism across Europe have given a voice to those who feel
left behind. The representatives of the discontented now have
their hands on the levers of power.
12. And in the protectionist stance of President Trump with his
tearing up of the Trans-Pacific trade treaty, the threats against
Mexico and China, the promise to bring jobs back to the United
States, the belligerent proclamation of America first, comes the
first serious challenge to the new globalised order.
People may think the clock cannot be turned back. But that is
not the lesson of history. Globalisation was the dominant
achievement of the late-Victorians, yet the great power rivalries
it engendered led to its destruction in the conflict of the First
World War.
However, there are also reasons for hope if only because the
world is already so deeply entwined.
13. 9 Reasons for Protectionism
Protecting the infant industry
Protecting jobs
Revenue
National security
Protect consumers from unsafe products
Discourage unethical practices
Protection from dumping
Narrowing BOP deficit
Cultural preservation
14. To safeguard domestic employment
To correct balance of payments disequilibrium
To prevent labour exploitation in developing economies
To prevent dumping
To safeguard infant industries
To enable a developing country to diversify
Source of government revenue
Strategic arguments
15. Arguments against
Protectionism In
International Trade
1. Encouragement to inefficient
Industries
2. Low Economic Utilization of Natural
Resources
3. Creation of Monopoly
4. Production as a claim
5. Loss to Consumers
6. Inequality in the Distribution of
National Income
7. Reduced Volume of Foreign Trade
8. Political Corruption
9. Strained Foreign Relations
16. “
Advantages
If a country is trying to grow strong in a new
industry, tariffs will protect it from foreign
competitors. That gives the new industry’s
companies time to develop their own competitive
advantages.
Protectionism also temporarily creates jobs for
domestic workers. The protection of tariffs, quotas
or subsidies allows domestic companies to hire
locally.
This benefit ends once other countries retaliate by
erecting their own protectionism.
17. Disadvantages
In the long term, trade protectionism weakens the industry. Without
competition, companies within the industry have no need to innovate.
There's no need to. Eventually, the domestic product will decline in
quality. It will be lower quality and more expensive than what foreign
competitors produce.
Job outsourcing is a result of declining U.S. competitiveness.
Competition has declined from decades of the United States not
investing in education. This is particularly true for high-tech,
engineering and science. Increased trade opens new markets for
businesses to sell their products. The Peterson Institute for
International Economics estimates that ending all trade barriers would
increase U.S. income by $500 billion.
Increasing U.S. protectionism will further slow economic growth. It
would cause more layoffs, not fewer. If the United States closes its
borders, other countries will do the same. This could cause layoffs
among the 12 million U.S. workers who owe their jobs to exports.