Fair Trade?

Terms of Trade

Trade and economic development

• Import-substitution industrialization
• Export led industrialization
• Export processing zones

Assignment for Today

Read pp. 395-409 Come to class with a basic familiarity with the following concepts and ideas: capital markets, tax-haven countries, exchange rate, internationalization of banking,

Assignent For Next Time

Read pp. 409-427 Come to class with a basic understanding of the following concepts: barriers to trade, satisficers, tariffs, nontariff barriers, infant industry argument, GATT, quota, export restraint agreement, export quota, effects of tariffs and quotas, WTO, IMF World Bank, Regional integration, NAFTA, OPEC. Optional: Read Chapter 12